Rectification of mistake- Possible in this case?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2010 Dear Experts,
Kindly help me. IT Return for FY 06-07 filed within due date with tax audit report. As on 31.3.2009, it was revised and a loss of Rs.24L declared.(figures of income has changed to loss as compare to original return). Case selected for scrutiny and order passed on 31.12.2009 considering original return of income. My querry is, whether can we go for a rectification as time limit for appeal has expired. Can we argue that it is mistake apparent from record, hence rectification application is possible and c/f of loss is to be allowed?

CA Sanat Pyne

CA Sanat Pyne (Expert)
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06 December 2010 Yes, you can apply for rectification u/s 154 of IT Act. as the mistake is apparent from record.

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