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Amendment U/s. 254(2): Six month time limit for rectification is Prospective
Case Law Details
- Case Name
- Lucent Technologies GRL LLC Vs. ADIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2003-04
- Courts
- All ITAT, ITAT Mumbai
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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...
