https://www.taxtmi.com/caselaws?id=10697 The court ruled that applications for rectification of mistakes under section 254(2) of the Income-tax Act must be filed within four years from the date of the order, whether initiated by the Tribunal or by application. The court rejected the argument that no time limit applied to applications by the assessee or Revenue, emphasizing the need for a statutory time limit to prevent indefinite amendments. The judgment clarified the legislative intent to establish a four-year limit for rectification applications to ensure the provision's effectiveness and operationality. Consequently, the court dismissed the writ petition for lacking merit, without imposing costs. en-us Mon, 04 Jul 2005 00:00:00 +0530 Tue, 21 Jul 2009 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10697 The court ruled that applications for rectification of mistakes under section 254(2) of the Income-tax Act must be filed within four years from the date of the order, whether initiated by the Tribunal or by application. The court rejected the argument that no time limit applied to applications by the assessee or Revenue, emphasizing the need for a statutory time limit to prevent indefinite amendments. The judgment clarified the legislative intent to establish a four-year limit for rectification applications to ensure the provision's effectiveness and operationality. Consequently, the court dismissed the writ petition for lacking merit, without imposing costs. Case-Laws Income Tax Mon, 04 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10697