GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
What's New Case Laws Highlights Articles News Forum Short Notes Statutory TMI SMS More ...
Extracts
Home List
← Previous Next →

Rectification of mistake apparent from records- a rarely useful remedy for tax payers in spite of clear provisions- whether recent instructions of CBDT will help assesses?

Income Tax - Direct Tax Code - DTC - By: - CA DEV KUMAR KOTHARI - Dated:- 19-2-2016 - Rectification of mistake apparent from records: Most of Tax Authorities have been conferred with power to rectify any mistake which is apparent from records. This authority can be exercised by authority himself, or on application of concerned parties namely the assessee and in some situations the assessing Officer or other lower authority who is affected by an order having some mistake in it. There are provisio .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

er in writing and also within prescribed time. However, very unfortunately, the approach adopted by the Assessing Officers and even senior officers is who care for provision ? and who care for tax payer ?. Not following instructions of CBDT is common practice: When clear cut mandatory provisions are not followed, it is doubtful that instructions of CBDT will be followed. This is also very unfortunate that the Assessing Officers and even senior authorities are not strictly following instructions .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nt portion of recent circular in this regard reads as follows: The supervisory officers should monitor the adherence of prescribed time limit and suitable administrative action may be initiated in cases where failure to adhere to the prescribed time frame is noticed. Considering past experience and ground realities, author feels that just to avoid administrative action (against officer), somehow order will be passed and it is most likely that rectification petition shall be dismissed on the simp .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d application because an application on which order has not been passed within six months, is considered by authorities as lapsed or no longer valid. Whereas, if we go by spirit of the provision, then it must be deemed that if an application has not been rejected within prescribed time, then it must be deemed to have been granted. Provisions of section 154 reproduced with highlights added: Rectification of mistake. 154.[(1) With a view to rectifying any mistake apparent from the record an income .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ority passing such order may, notwithstanding anything contained in any law for the time being in force, amend the order under that sub-section in relation to any matter other than the matter which has been so considered and decided.] (2) Subject to the other provisions of this section, the authority concerned- (a) may make an amendment under sub-section (1) of its own motion, and (b) shall make such amendment for rectifying any such mistake which has been brought to its notice [by the assessee .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

owed [the assessee or the deductor] [or the collector], a reasonable opportunity of being heard. (4) Where an amendment is made under this section, an order shall be passed in writing by the income-tax authority concerned. [(5) Where any such amendment has the effect of reducing the assessment or otherwise reducing the liability of the assessee or the deductor [or the collector], the Assessing Officer shall make any refund which may be due to such assessee or the deductor.][or the collector] (6) .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

(7) Save as otherwise provided in section 155 or sub-section (4) of section 186 no amendment under this section shall be made after the expiry of four years [from the end of the financial year in which the order sought to be amended was passed.] [(8) Without prejudice to the provisions of sub-section (7), where an application for amendment under this section is made [by the assessee or by the deductor] 23[or by the collector ]on or after the 1st day of June, 2001 to an income-tax authority refer .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rs. The CBDT has also directed the supervisory officers to monitor the adherence to the prescribed time limit and initiate suitable administrative action where failure to adhere to the prescribed time limit is noticed. The effective parts of the Circular reads as follows: Instruction No. 01/2016 Subject: Following the prescribed time-limit in passing order under sub-section (8) of section 154 of Income-tax Act, 1961-regd. Sub-section (8) of section 154 of the Income-tax Act, 1961 ('Act') .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ns. In such cases, the field authorities often take a view that since no action was taken within the prescribed time-frame, the application of the taxpayer is deemed to have lapsed, thereby not requiring any action. 2. The matter has been examined by the Board. In this regard, the undersigned is directed to convey that the aforesaid time-limit of six months is to be strictly followed by the Assessing Officer while disposing applications filed by the assessee/deductor/collector under section 154 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Latest Notifications:

    Dated      Category

20-7-2017 Cus (NT)

18-7-2017 IT

18-7-2017 CE (NT)

18-7-2017 CE

18-7-2017 GST CESS Rate

15-7-2017 Kerala SGST

14-7-2017 Andhra Pradesh SGST

14-7-2017 Cus (NT)

14-7-2017 Cus

13-7-2017 Co. Law

13-7-2017 Co. Law

13-7-2017 ADD

13-7-2017 ADD

12-7-2017 Jammu & Kashmir SGST

12-7-2017 Gujarat SGST

12-7-2017 Gujarat SGST

12-7-2017 CGST Rate

12-7-2017 UTGST Rate

12-7-2017 UTGST Rate

12-7-2017 IGST Rate

More Notifications


Latest Circulars:

19-7-2017 Income Tax

18-7-2017 Customs

17-7-2017 Customs

14-7-2017 Income Tax

13-7-2017 Central Excise

13-7-2017 Customs

13-7-2017 Central Excise

13-7-2017 Customs

7-7-2017 Income Tax

7-7-2017 Goods and Services Tax

More Circulars



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version