Rectification of order passed by AO himself as per section 143 (3)

[GYAN JAIN]

Wheterh AO can ractified the Order paases by himself u\s143(3) of the Income Tax Act, 1961

AI Summary

Can Assessing Officer Rectify Order Under Section 143(3)? Yes, Using Section 154 for Obvious Errors. A forum discussion addresses whether an Assessing Officer (AO) can rectify an order passed under section 143(3) of the Income Tax Act, 1961. Two contributors clarify that rectification is possible under section 154, which allows the same authority or a successor to correct mistakes apparent from the record. The process requires establishing that the mistake is evident and not related to interpretative issues. The AO must resolve the rectification request within a specified time. Participants are encouraged to share their experiences and outcomes regarding such rectifications.