https://www.taxtmi.com/caselaws?id=59702 The ITAT found that the Assessing Officer's failure to consider the claim for set off of brought forward losses and unabsorbed depreciation against capital gains and income from other sources was a mistake apparent from record and rectifiable under section 154. The ITAT referred to the Supreme Court's judgment in T.S. Balaram, ITO v. Volkart Bros. to clarify the definition of a mistake apparent from record. The case was remanded back to the CIT(A) for reconsideration on whether the assessee is entitled to the set off, and the appeal was treated as allowed for statistical purposes. en-us Fri, 27 Oct 2006 00:00:00 +0530 Wed, 12 Jun 2013 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59702 The ITAT found that the Assessing Officer's failure to consider the claim for set off of brought forward losses and unabsorbed depreciation against capital gains and income from other sources was a mistake apparent from record and rectifiable under section 154. The ITAT referred to the Supreme Court's judgment in T.S. Balaram, ITO v. Volkart Bros. to clarify the definition of a mistake apparent from record. The case was remanded back to the CIT(A) for reconsideration on whether the assessee is entitled to the set off, and the appeal was treated as allowed for statistical purposes. Case-Laws Income Tax Fri, 27 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59702