Mr S. Shiroor.
Please note one thing. Section 154 is more effective than section 237. The reason is rectification u/s 154 is time bounding whereas under section 237 no time limit is prescribed. If you file application u/s 154, department is duty bound to pass your rectification order within six month from the end of the month in which you have filed the application. One more thing to be noted “Rectification order can be made only within 4 year from the end of the FY in which the order sought to be amended was passed” It means if assessment order for AY 2008-09 was supposed passed on 10/01/2009 then that order can be rectified only before 31/03/2013.
You may be thinking that if such limit applies to your case then you won’t be able to rectify your order, In such case you can opt to rectification under section 155(14) which is specifically made for this TDS mismatch cases. Here no time limit is there but as well as there is no time bounding duty on department is there to get the work on time.
I have given you whole picture of income tax. You can read it in detail so that you don’t have to visit again and again over there and if they are wrong in their work or they are not doing their work on time you can instruct the higher authority about the same.
I would advise you to stick to your rectification and don’t jump to refund u/s 237, because in that case you might have to start with zero. That will take again more time to complete the whole case.
Regards
CAclubindia
