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2011 (4) TMI 1519 - ITAT MUMBAIValidity of order passed by the Assessing officer u/s 154 r.w.s. 143(1)(a) - time barred mistake - limitation of four years laid down in section 154(7) - HELD THAT:-We are of the considered view that the ratio laid down in the case of Hind Wire Industries Ltd v. CIT [1995 (1) TMI 2 - SUPREME COURT] remains confined to a case where subject matter of second rectification is the same as the first rectification and it was only in such a situation that the time limit of second rectification proceedings gets extended by the fact of first rectification proceedings. In a situation in which the subject matter of second rectification proceedings is wholly unrelated to the subject matter of first rectification proceedings as is the situation in the present case, the time limit for second rectification proceedings remains unaffected by the first rectification proceedings. In view of the these discussion, as also bearing in mind entirety of the case, we are of the considered view that the impugned rectification order, having been passed well after the end of four years from the end of financial year, in which, intimation u/s 143(1)(a) passed, is time barred. In any event, by no stretch of logic, a rectification of mistake almost after eight years of processing an intimation u/s 143(1)(a) can be said to have been made within a reasonable time limit. We, accordingly, quash the impugned rectification order.
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