The assessing officer has disallowed an expense while passing assessment order under section 143(3). But at a later date supreme court has allowed the expense.
Now at this time, time limit for filing rectification under section 154 has expired, so whether is there any rectification possible u/s 154 or any other remedy under the law available to the assessee.
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Rectification under section 154
Replies (6)
i think u still can file rectification u/s 151 using communication reference number of 143(3)
there is no rectification can be filed u/s 151, it is only for sanctions for issue of notice under section 147
This will not come under 154. The order u/s 143(3) will be modified as 'appeal effect order' after the department recevies the order of the court. In the mean time you may also file an application to AO stating the fact that the Hon'ble SC has allowed the expenditure and request him to pass the appeal effect order at earliest.
Suppose if the assessee has not filed any appeal anywhere, but the judgement that the supreme court has given relates to another assessee in respect of the same expense, then what will be the remedy for the assessee.
No remedy available as non filing of appeal means the assessee has agreed to the addition.
Only in a pending proceedings you can get the benefit of a judgment and not on a settled matter
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