AO duty bound to complete Income Tax rectification process within six months

Orient Overseas Container Line Limited Vs DCIT (ITAT Mumbai) ITAT Mumbai held that it is the duty imposed on the Assessing Officer to complete the rectification process within six months. Thus, by remanding the matter back to the file of Assessing Officer, it is directed to complete the rectification within one month. Facts- Assessee is a company incorporated under Companies Ordinance of Hong Kong. It is engaged in the business of operation of ships in international traffic. Post completion of assessment, assessee filed rectification application u/s. 154 of the Act on 05.04.2022 by bringing to...