TaxTMI 
TaxTMI 
2024 (9) TMI 579
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....:- "1. On the facts and in the circumstances of the case, the learned CIT(A) erred in holding that the order u/s 154 dated 26/03/2021 is barred by the limitation and quashing the same. 2. On the facts and in the circumstances failed to appreciate of the case, the learned CIT(A) failed to the fact that the impugned rectification order dated 26/03/2021 has been made against the order u/s 250 dated 29/10/2019 and not against order u/s 143(3) dated 18/02/2016. 3. On the facts and in the circumstances of the case, the learned CIT(A) failed to appreciate the fact that the order sought to be amended was order u/s 250 dated 29/10/2019 which makes the rectification order dated 26/03/2021 well within the time limit of four years stipulated u/s ....
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....sessment was completed on 18/02/2016 by assessing loss at Rs. (10,98,97,162/-). Hon'ble CIT (A) has given the relief to the assessee. Accordingly order under section 250 was passed on 29/10/2019 by assessing loss of Rs. (10,99,09,162/-). It is on record that the rectification order under section 154 of the Act has been passed after the expiry of four years from the end of financial year in which the order sought to be amended was passed. 7.6 Now it is a substantial question of law that the rectification order u/s 154 passed by the AO on 26/03/2021, which was getting time barred by 31/03/2020, is valid or not. This issue is no longer Res-Integra as it has been already adjudicated by various judicial authorities. In the case of Shri P.S....
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....cted to a rectification on a later date, the commencing point of limitation remains the same date of the original order and not the later date of its subsequent rectification or subsequent application This view is supported by the Hon'ble Jurisdictional High Court in the case of Kothari (Madras) Ltd., vs. AG(ITO), (1989) 177 ITR 538 Mad. In the present case before us there is no controversy about first order or second order but order under rectification is only the order passed by CPC, Bengaluru u/s. 143(1) i.e., intimation or processing of return of income vide letter dated 05.03.2012 The rectification order by the AO u/s. 154 of the Act was passed only on 20.06.2016. It means, that the rectification order u/s. 154 of the Act in the pr....