Section 154 of Income Tax Act 1962

Rectification by income tax authority when mistake Apparent from record 

(A) With a view to rectifying any mistake apparent from the record and income tax authority referred to in section 116 may, amend any order passed by it under the provisions of this act, or amend any intimation or deemed intimation under section 143(1); or amend any intimation under section 200A(1).

(B) Rectification can be done by any matter other than the matter considered as decided in appeal/revision.

(C) The authorities concerned may make an amendment of its own motion, and shall make such amendment if such mistake which has been brought to its notice by the assessee or by the conductor, and where the authority concerned is the commissioner (Appeals), by the Assessing Officer also.

(D) Opportunity of being heard to be given to assessee is necessary if rectification result into enhancement, etc.

(E) Order to rectification shall be made in writing.

(F) Where any such amendment has the effect of reducing the assessment or otherwise reducing the liability of the assessee or the detector, refund shall be granted to the assessee or deductor.

(G) Where any such amendment has the effect in enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee or the detector, the Assessing Officer shall serve on the assessee or the detector, as the case may be a notice of demand in the prescribed form specified the sum payable, and such notice on demand shall be issued under section 156 and the provision of this act apply accordingly.

(H) No amendment under the section shall be made after the expiry of four year from the end of the financial year in which the order sought to be amended was passed.

(I) Where an application for amendment under the section is made by the assessee or by the deductor to and Income Tax authorities, authorities fail pass and order, within a period of six month from the end of the month in which the application is received by it, making the amendment; or refusing to allow the claim.
Section 154 of Income Tax Act 1962 Section 154 of Income Tax Act 1962 Reviewed by Unknown on November 25, 2018 Rating: 5

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