Notice u/s 154 of income tax
This query is : Resolved
20 February 2013
A notice has been received on Dtd. 02/03/2011 of I.T Act. In the case of A.Y 2005-06 order Dtd. 06/09/2007 on objection raised by Audit party. Order U/s 154 is not passed so far. Can order u/s 154 shall be pass now. (after four years of the assessment order) or notice u/s 148 be issued.
20 February 2013
The prescribed time limit U/s 154(7) is 4 years from the end of the financial year in which the order sought to be amended was passed.
.
4 Years to be counted after 31.03.2008.
.
If the order has been AMENDED by noticing a
mistake apparent from the records, the order in question is a valid order.
.
.
4 Years to be counted after 31.03.2008.
.
If the order has been AMENDED by noticing a
mistake apparent from the records, the order in question is a valid order.
.
22 February 2013
Order u/s 154 can't be pass after 4 years but notice u/s 142 and 148 can be issue.
22 February 2013
No order can be passed afte 4 years unless the application for rectification has been made by the assessee within 4 years.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Rental income of jointly held property
- FEMA regulation Act. for inward remitance
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
