https://www.taxtmi.com/caselaws?id=431173 The Tribunal ruled in favor of the assessee, finding that the adjustment of sale proceeds of an immovable property by the Centralized Processing Centre (CPC) was incorrect. The Tribunal held that the CPC's actions resulted in double taxation, as the sale proceeds were already disclosed under the capital gains head. The Tribunal directed the deletion of the erroneous adjustment, emphasizing the need to rectify the mistake apparent from the record. As a result, the appeal was allowed in favor of the assessee. en-us Thu, 01 Dec 2022 00:00:00 +0530 Wed, 07 Dec 2022 10:28:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431173 The Tribunal ruled in favor of the assessee, finding that the adjustment of sale proceeds of an immovable property by the Centralized Processing Centre (CPC) was incorrect. The Tribunal held that the CPC's actions resulted in double taxation, as the sale proceeds were already disclosed under the capital gains head. The Tribunal directed the deletion of the erroneous adjustment, emphasizing the need to rectify the mistake apparent from the record. As a result, the appeal was allowed in favor of the assessee. Case-Laws Income Tax Thu, 01 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431173