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TMI Blog2021 (12) TMI 559X X X X Extracts X X X X X X X X Extracts X X X X ..... ar under consideration was disallowed by the AO vide an order u/s 143(1), two remedies were available to the assessee i.e. to move the application u/s 154 for rectification before the AO or to file an appeal before the Ld. CIT(A). In the present case, the assessee availed the first remedy by filing an application u/s 154 before the AO and since no relief was forthcoming by availing the said remedy in as much as the application filed u/s 154 remained to be disposed of by the AO, the assessee after waiting for a reasonable time availed the second remedy which was available by filing the appeal before the Ld. CIT(A) - assessee cannot be said to have not acted diligently and is guilty of negligence. Delay of nine months in filing the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the intimation issued u/s 143(1) of the Act on 30.08.2018, Dy. CIT, CPC, Bangalore however did not allow the claim of the assessee for set of off brought forward Short Term Capital Loss pertaining to A.Y. 2009-10 against the Short Term Capital Gain earned during the year under consideration and determined the total income of the assessee chargeable to tax at ₹ 15,95,880/-. 3. Against the order u/s 143(1) by the AO, an appeal was preferred by the assessee before the Ld. CIT(A) with the delay of nine months. The said delay was sought to be condoned by the assessee on the ground that an application u/s 154 was filed by him seeking rectification of the intimation issued by the AO u/s 143(1) of the Act and since the said application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same as barred by limitation. 5. It is well settled that the term sufficient cause is to be construed liberally in order to advance the substantial cause of justice and not to shut the door on the assessee to avail the remedial measure provided under the statute. When the claim of the assessee for set of off for brought forward Short Term Capital Loss of the earlier years against the Short Term Capital Gain of the year under consideration was disallowed by the AO vide an order u/s 143(1), two remedies were available to the assessee i.e. to move the application u/s 154 for rectification before the AO or to file an appeal before the Ld. CIT(A). In the present case, the assessee availed the first remedy by filing an application u/s 15 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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