What are the consequences if the Assessing officer does not pass the rectification order with in the time limit specified u/s154(8) i.e. six months from the end of the month in which application for rectification is made.
Can the application made by the assessee for rectification be deemed to have been accepted if no order is passed by AO.?
share the details on which ground u sought rectification u/s 154
follow the ITO for delay reasons or rejection if done.
there may be some valid reason before ITO for not considering the rectification, and you may have to file appeal for getting relief.
| Originally posted by : aNkuR jAin.................... | ||
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yes, in that case the application will be deemed as accepted in assessee's favor....... |
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Hi Ankur Jain,
As per your above reply, if AO does not pass an order under section 154 within time limit of six months, then it will be deemed as accepted in assessee's favor, can you provide me the basis of this????........ Is there any Case law/Judgement or any any Circular passed by CBDT.???????????? Because, I couldn't find anything in respect of this. Please reply.
902. Board’s authorisation for taking action under section 154 beyond time limit specified under section 154(7) in cases where valid application has been field under section 154(2)(b) but was not disposed of within the said time limit – Order under section 119(2)(a)
In exercise of the powers conferred by clause (a) of sub-section (2) of section 119, the Central Board of Direct Taxes hereby orders that in all the cases where a valid application under clause (b) of sub-section (2) of section 154 had been filed by the assessee within the statutory time limit but was not disposed of by the authority concerned with in the time specified under sub-section (7) of section 154, it may be disposed of by that author ity even after the expiry of the statutory time limit, on merits and in accordance with law
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