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2010 (10) TMI 247 - AT - Income TaxDepreciation - Rectification of mistakes - service of the order of assessment u/s. 154 of the Act and the service of notice of demand u/s.156 of the Act - The order u/s.154 merely refers to the fact that there was excess depreciation allowed in the order u/s. 143(3) of the Act by Rs. 5,53,080/- and the Assessee by letter dated 7/7/99 accepted the proposed rectification. If the order u/s.154 was passed on the basis of admission of the Assessee, there is no explanation as to why the order was passed only on 24/01/2000 i.e., after a period of more than 6 months, even without referring to any of the other correspondence on the issue between the Assessee and the AO. - All the above circumstances clearly go to show that the order u/s.154 was not passed on 24/01/2000. The above circumstance also shows that there no evidence to show that the tax calculation in Form No. ITNS 150 was in fact made within the period of limitation. - Held that: - the order u/s.154 is not legal as the same has been passed beyond the period of limitation. - Decided in favor of assessee.
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