Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 775 - AT - Income TaxRectification of mistake u/s 254 - period of limitation - scope of amendment - HELD THAT:- Under the new amended provision, by strict application the period of limitation in the instant case will expire on 31.08.2016 but by reasonable interpretation, the limitation in the such cases where the unexpired period under the old law was more than six months on the date of amendment, then the limitation under the new provision shall be calculated six months from the date amended provision came into effect, and in those cases, where the unexpired period of limitation under the old law is less than six months as on the date of amendment, then the said unexpired period shall be allowed under the new amended provision effective from 01.06.2016. Thus, keeping in view factual matrix of the instant case, the MA ought to have been filed by assessee latest by 30.11.2016 viz. six months from the date new amended provision came into effect, as on the date of amendment on 01.06.2016, in the instant case, the unexpired limitation period under the old law was more than six month. The assessee has filed this MA on 20.01.2017 which is clearly time barred keeping in view amended provisions of Section 254(2), and hence this MA is not maintainable.
|