ITAT condones 4 Years delay in filing Section 154 Rectification Application

Bansal Propbuild Private Limited Vs CIT (ITAT Jaipur) The Bench observed that the assessee is engaged in agriculture produce and the same was sold during the year under consideration. However the AO has not treated as agriculture income. The assessee has filed application under Section 154 of the Act on 10.01.2019 mentioning therein that the assessee company has shown income of Rs. 7,22,991/- which is exempt from tax. The prayer of the assessee is that application filed by the assessee under section 154 of the Act was not properly disposed off without providing adequate opportunity to the asse...