https://www.taxtmi.com/caselaws?id=313059 ITAT Mumbai held that rectification u/s 154 regarding dividend distribution tax paid u/s 115O for computing book profit u/s 115JB was time-barred. The AO's first rectification order dated 13.03.2012 dealt with different issues, not book profit matters. Since the subsequent rectification order addressed book profit for the first time, the four-year limitation period ran from the original assessment order's financial year end (31.3.2009), making the rectification beyond prescribed limitation u/s 154(7). Assessee's appeal was allowed. en-us Fri, 13 Dec 2019 00:00:00 +0530 Thu, 21 Mar 2024 19:22:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313059 ITAT Mumbai held that rectification u/s 154 regarding dividend distribution tax paid u/s 115O for computing book profit u/s 115JB was time-barred. The AO's first rectification order dated 13.03.2012 dealt with different issues, not book profit matters. Since the subsequent rectification order addressed book profit for the first time, the four-year limitation period ran from the original assessment order's financial year end (31.3.2009), making the rectification beyond prescribed limitation u/s 154(7). Assessee's appeal was allowed. Case-Laws Income Tax Fri, 13 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313059