ITAT explains time period for passing of Section 154 Order

ADM Agro Industries Latur & Vizag Pvt. Ltd Vs DCIT (ITAT Delhi) The grievance of the assessee is that impugned order passed by the A.O is illegal and barred by time. Section 154(7) of the Act prescribes the limitations for the passing order u/s 154 of the Act. For the sake of clarity, same is reproduced here as under:- “(7) Save as otherwise provided in section 155 or sub­section (4) of section 186, no amendment under this section shall be made after the expiry of four years from the end of the financial year in which the order sought to be amended was passed.” A plain reading of the ...