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Notice u/s 154 of income tax

This query is : Resolved 
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(Querist)
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.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
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.
.
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chetan

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chetan (Querist)
20 February 2013 but Four years completed on March 31st, 2012
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chetan

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chetan (Querist)
20 February 2013 order u/s 154 has not passed so far.
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NITIN SHARMA

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NITIN SHARMA (Expert)
22 February 2013 Order u/s 154 can't be pass after 4 years but notice u/s 142 and 148 can be issue.
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Soumitra Basu

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Soumitra Basu (Expert)
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.
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