Rectification Order Issued After 4-Year Limit u/s 154 Deemed Time-Barred and Annulled in Favor of Taxpayer.

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....Rectification u/s 154 - Period of limitation as per section 154(7) - In the present case, the order u/s. 143(3) was passed on 26/12/2011 and the financial year is FY 2010-11. The impugned order passed dated 30/11/2018 is certainly beyond four years thereof. Hence, in our considered opinion, the assessee succeeds on the additional ground. The rectification order passed u/s. 154 in this case is accordingly time barred and hence, the same is squashed as such - AT....