9911796707
TMI Blog2020 (8) TMI 846X X X X Extracts X X X X X X X X Extracts X X X X ..... ing deduction u/s. 54, there would be no long term capital gain that would remain for taxation - HELD THAT:- There is a mistake apparent on the face of record inasmuch as even after allowing deduction u/s 54 of the Act, there would still be long term capital gain that would be chargeable to tax and therefore the question of period from which indexation benefit should be allowed to the assessee oug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961 [the Act] praying that the order of Tribunal dated 30.11.2019 suffers from a mistake apparent on the face of record and should be rectified. 2. The issue that arose for consideration in the aforesaid appeal was with regard to computation of long term capital gain. Three aspects of computation of long term capital gain was required to be examined in the appeal viz.:- i) Denial of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act, there would still be long term capital gain that would be chargeable to tax and therefore adjudication of the other two issues would also be vital. It was submitted that the order of Tribunal suffers from a mistake apparent on the face of record inasmuch as the Tribunal has proceeded on the basis that consequent to allowing deduction u/s. 54, there would be no long term capital gain that wo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion u/s 54 of the Act, there would still be long term capital gain that would be chargeable to tax and therefore the question of period from which indexation benefit should be allowed to the assessee ought to have been adjudicated. We accordingly recall the order of the Tribunal dated 30.12.2019 for the limited purpose of examining the question with reference to period for which the assessee shou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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