Clerical error in asset balances leads to increased capital gain; ITAT condones delay and restores matter to CITA

ITAT condoned a delay in filing due to clerical errors in asset balances, restoring the matter to CITA for reassessment. The article explains procedural safeguards, taxpayer remedies, and judicial reasoning for condonation. It illustrates administrative flexibility in rectifying inadvertent errors and highlights taxpayer protection mechanisms under income tax law.