RECTIFICATION OF MISTAKES |
Question 1 (ID 02)
(a) In an order of assessment, the assessee noticed a mistake for which application u/s 154 was moved and the order was rectified. Subsequently, the assessee moved further application for rectification u/s 154 which was rejected by the Assessing Officer on the ground that the order once rectified cannot be rectified again. Is the contention of the Assessing Officer correct ?
(b) The return for was filed on time as per Section 139(1). The assessee during the course of assessment proceedings u/s 143(2), noticed certain omissions and therefore filed a revised return on 18.10.AY. The Assessing Officer ignoring the revised return so filed framed the order. Is the action of Assessing Officer correct ?
Question 2 (ID 03)
EIH Private Ltd’s assessment for year was completed under Section 143(3) on last due date of passing order. The company went in appeal on the same day of passing order to the Commissioner (Appeals) and the appeal was decided on 16th August after 4 years, and the appeal effect was duly given by the Assessing Officer on 25th August,. Thereafter, on 1st September, the Assessing Officer noticed a mistake in calculation of depreciation on a particular block of assets, which reduced the income by Rs.1.10 lakh. The assessing officer issued notice under section 154 for the purpose of rectifying the mistake. Is such rectification permissible ?