Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (9) TMI 444 - AT - Income TaxRectification u/s 154 - Period of limitation as per section 154(7) - whether order passed four years after the end of the financial year is time barred? - HELD THAT:- As the order dated 30/11/2018 passed u/s. 154 of the Act in which the impugned additions had been made are with reference to the original order of assessment, dated 26/12/2011. The time limit specified in the Act of four years is certainly crossed in the order dated 30/11/2018 passed in the present case. Hence, this order u/s. 154 is certainly time barred inasmuch as it has been passed four years after the end of the financial year in which order sought to be amended was passed. In the present case, the order u/s. 143(3) was passed on 26/12/2011 and the financial year is FY 2010-11. The impugned order passed dated 30/11/2018 is certainly beyond four years thereof. Hence, in our considered opinion, the assessee succeeds on the additional ground. The rectification order passed u/s. 154 in this case is accordingly time barred and hence, the same is squashed as such - Decided in favour of assessee.
|