https://www.taxtmi.com/caselaws?id=759989 ITAT Mumbai allowed the appeal and deleted the addition made under intimation order u/s 143(1). The assessing officer erroneously reduced sale consideration of short term capital gains instead of aggregate capital gains from business income during return processing, converting business loss into profit. CIT(A) failed to condone delay and adjudicate on merits. ITAT found the error apparent from return perusal, set aside CIT(A)'s order, and allowed all grounds raised by appellant, deleting the contested addition. en-us Mon, 07 Oct 2024 00:00:00 +0530 Fri, 11 Oct 2024 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759989 ITAT Mumbai allowed the appeal and deleted the addition made under intimation order u/s 143(1). The assessing officer erroneously reduced sale consideration of short term capital gains instead of aggregate capital gains from business income during return processing, converting business loss into profit. CIT(A) failed to condone delay and adjudicate on merits. ITAT found the error apparent from return perusal, set aside CIT(A)'s order, and allowed all grounds raised by appellant, deleting the contested addition. Case-Laws Income Tax Mon, 07 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759989