02 July 2011
if rectification order is not passed within 6 month from end of month in which appl. is filed. then, whether it will be deemed to be allowed in favour of A
02 July 2011
According to me in case of rectification if the company is not able to make correction than the person can apply to the CLB for making correction in Registrar of Member and the CLB will take step to order the Company to make correction in RM. But does not mean that if no order is given within 6 month the case is in his favor.
03 July 2011
Relevance is speedy disposal and nothing else.But consequence of AO's default is not seen in the section. However department make a stand based on the CBDT circular issued u/s 154(7) which is reproduced below-
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 authority even after the expiry of the statutory time limit, on merits and in accordance with law. Circular : No. 73 [F.No. 245/13/71-A & PAC], dated 7-1-1972.
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