Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Time limit for filing application u/s 54 of the Act

21 September 2023

Can we file rectification application under section 154 at any time or we need to file this application within 4 years from the end of relevant assessment year in which the order sought to be revised was passed??

please clarify, as I understand.. this time limit is for AO and not for us as Assessee.. Because Section 154(8) starts with "without prejudice to the above".

Reply
Follow
Share

5 Replies

sabyasachi mukherjee (27574 Points)
Replied 22 September 2023

Pls upload the order. Rectification can be made , there are specific provisions.

Upgrade to CAclubindia Pro. Subscribe Now!

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 22 September 2023

For which AY ?

Reason for correction?

sabyasachi mukherjee (27574 Points)
Replied 22 September 2023

Time limit for filing applicatio. under section 154 is still there.

PRABHAT KUMAR (142 Points)
Replied 22 September 2023

In one group case, a survey was conducted under section 132 and after that block assessment was framed under section 153A for AY 1995-96 to 2001-02 in all the cases of that group. We approached Settlement Commission for all the group cases and AO passed the order giving effect to the settlement commission order in 2011 wherein the AO also levied surcharge. In 2014, the supreme court decided the identical matter and held that surcharge can't be levied in these cases but we forgot to file rectification application.

Finally, in 2018, we file the rectification application before the AO but the AO rejected the application stating that rectification right is barred by the limitation.

Is AO correct in his opinion??

Because, as I understand provision of subsection 8 of sec 154 supercedes the provision of 154(7).

please clarify.

thanks and regards,