Amendment U/s. 254(2): Six month time limit for rectification is Prospective

Advocate Akhilesh Kumar Sah The Amendment Under Section 254(2) In Respect Of Time Limit Of Six Months For Rectification Is Prospective And Applicable To The Orders Passed After 01.06.2016. At present, as per section 254(2) of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’), the Appellate Tribunal may, at any time within six months from the end of the month in which the order was passed (substituted for “four years from the date of the order” by the Finance Act, 2016, w.e.f. 1-6-2016), with a view to rectifying any mistake apparent from the record, amend any order pass...