Limitation period U/s.154(7) for rectification begins from date of appeal order

S. 154 (7) provides that a rectification order can be passed within four years “from the end of the financial year in which the order sought to be amended was passed”. The AO passed an assessment order u/s 143 (3) on 24.11.1998 in which he committed the mistake of reducing the depreciation instead of adding to the income resulting in double deduction. The assessee went up in appeal on other issues to the CIT (A) who decided the appeal on 28.6.2004. The AO gave effect to the CIT (A)’s order vide order dated 23.7.2004. The AO thereafter passed an order u/s 154 dated 26.4.2006 by which he r...