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2016 (6) TMI 334 - AT - Income TaxRectification of mistake - period of limitation - assessment of income u/s 115JA - Held that:- In the present case, limitation would begin to run from the date i.e 30-03- 2001 on which the original order of assessment was passed U/S 143(3) of the Act for the reason the jurisdiction under s. 154 is sought to be exercised in respect of issues which did not form the subject-matter of the rectification proceedings under s. 154 dt. 11.01.2005 and 18.02.2005 and the AO also failed to make any reference of Sec 115JA in the notice dt:23-02-2005 issued sought to rectify the order dt:28-02-2005, but, however, made computation under book profit U/S 115JA of the Act for the first time vide Sec 154 notice dt:16-02-2009. As stated above AO has passed subsequent rectification orders and he has not made any reference on the said issue but he resorted to rectify the mistake while passing the subsequent order passed u/s 143(3)/251/154/154/251/251/154 of the Act. We find that from the end of the financial year i.e. 1997-98 the AO is bound to make the rectification order within four years and in this case the AO has passed rectification order u/s 154 on 30-03-2009 is barred by limitation as it is beyond four years from the original assessment order dated 30.03.2001. Therefore, we are of the opinion that the impugned order dt: 30-03-2009 passed by the AO is held to be invalid by treating the same as barred by limitation - Decided in favour of assessee.
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