Time limit is 4 years from the end of FY in which the order is passed. And A.O has to pass the order within 6 months from the end of the month in which application from the assessee is received.
Suppose the order was passed on 15/7/2012 so from the end of the FY in which the order was passed -
- 31/3/2013
So the time limit of 4 years ends on
- 31/3/2017
Can assessee make an application on 5/2/2017 ?
No rectification can be made after expiry of 4 years from the end of the financial year. The section states so - " No Amendment order shall be passed after the expiryof the said period. " Hence, the request will be ignored.
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