https://www.taxtmi.com/caselaws?id=461594 ITAT Hyderabad dismissed the assessee's appeal seeking rectification under section 154 for capital gains computation. The assessee initially computed capital gains from mill sale (land, machinery, sheds) separately under long-term and short-term categories, then sought revision claiming it was one composite unit sale. The tribunal held this was not an apparent mistake rectifiable under section 154, citing T.S. Balaram case precedent. The error involved factual recomputation rather than obvious mistake correction. The tribunal granted liberty to approach alternative forums while dismissing the appeal. en-us Wed, 22 May 2024 00:00:00 +0530 Tue, 15 Apr 2025 08:34:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461594 ITAT Hyderabad dismissed the assessee's appeal seeking rectification under section 154 for capital gains computation. The assessee initially computed capital gains from mill sale (land, machinery, sheds) separately under long-term and short-term categories, then sought revision claiming it was one composite unit sale. The tribunal held this was not an apparent mistake rectifiable under section 154, citing T.S. Balaram case precedent. The error involved factual recomputation rather than obvious mistake correction. The tribunal granted liberty to approach alternative forums while dismissing the appeal. Case-Laws Income Tax Wed, 22 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461594