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2023 (4) TMI 340 - HC - Income TaxRectification of the Assessment Order u/s 143A - whether application for rectification had been filed beyond the period of limitation ? - action for reflection of the TDS deducted against the new PAN Number obtained by the petitioner - Application for granting permission u/s 119(2)(b) - issuance of new pan - TDS deductions not reflected in Form 26AS - Petitioner seeking to rectify its Income Tax return qua the TDS now being reflected under the correct PAN - Income Tax Authorities have also reflected the TDS amount of old PAN against the new PAN Number of the petitioner, as an Association of Persons - petitioner seeking condonation of delay beyond the period of six years from the end of the Assessment Year - HELD THAT:- When Section 119(2)(b) of the Income Tax Act authorizes the Board to issue instructions, directions or orders to the Income Tax Authorities to admit an application, or claim for any exemption, deduction, refund, or any other relief under the Act after the expiry of the period of limitation specified by or under the Act, along with the said power goes the power to prescribe the conditions, upon which such delayed applications may be entertained. Since the petitioner sought condonation of delay by resort of the very same Circular No. 9/2015, the petitioner has to accept the conditions prescribed in the said circular for entertainment of application seeking condonation of delay. Therefore, it is not correct for the petitioner to contend that the Board has no power to lay down an outer-limit of limitation, during which period an application for condonation of delay may be entertained. Rectification application could be filed by the petitioner within four years of the expiry of the Assessment Year. Admittedly, the petitioner did not do so. By resorting to Clause 3 of Circular No. 9/2015, the petitioner could have sought condonation of delay, in moving the rectification application by another two years. The petitioner did not file the rectification application either within the period of limitation, or even within the period for which the delay could be condoned, i.e. up to six years. The petitioner moved the rectification application only in the year 2021, i.e. after over 12 years. It is well settled that, with the expiry of limitation, the law bars the remedy even if the right is not extinguished. Therefore, the right of the petitioner, to avail of the remedy of rectification, stood barred by the law of limitation. The petitioner has only itself to blame for not availing of the remedy available to it within the period of limitation, or even within the period during which the application for condonation of delay could be entertained.
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