Sec 263

If there is a mistake in the Order passed u/s 263, then Rectification Provisions u/s 154 come into effect.

As per Sec 154, Rectification can be initiated either 1. By the Commissioner on his own motion or 2. On an Application by the Assessee.

Time Limit

1. If to be rectified by Commissioner on his own Motion, then the Time Limit is 4 Years from the End of the Year in Which the Order to be Rectified is passed.

2. If to be rectified on an Application of the Assessee, then Assesse shoul make the Application for Rectification within 4 Years from the End of the Year in Which the Order to be Rectified is passed. Then the IT Authority may Rectify the Order within 6 Months.

@ Mukul Jatwani

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