Rectification of Mistakes by AO
This query is : Resolved
04 March 2009
Hello all,
As per my reading of the sec. 154 i have understood that it is open for the AO to rectify any mistakes if it relates on the judments given by SC in any case even if such judment is passed after the completion of assessment by AO.Pls let me know whether my understabding of the concept is correct and pls correct me if i am wrong.
As per my reading of the sec. 154 i have understood that it is open for the AO to rectify any mistakes if it relates on the judments given by SC in any case even if such judment is passed after the completion of assessment by AO.Pls let me know whether my understabding of the concept is correct and pls correct me if i am wrong.
05 March 2009
On an application by the assessee the AO,on the situation cited, can rectify an assessment order. Ref:-Circular no.68 dated 17/11/1971 reported in 83 ITR (St) 6.
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