Section 154

Section 143(1)(a)(i) intimation not required on commencement of regular Section 143(2) assessment

Income Tax - On commencement of regular assessment proceedings u/s 143(2) of Act , there is no need for intimation u/s 143(1)(a)(i) Where the summary procedure under section 143(1)(a)(i) has been adopted, there is scope available for the revenue to make assessment u/s 143(3) of the Act. But the converse is not available. A regular assessment proceedin...

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How to Raise Income Tax Rectification Request on Portal

Income Tax - How to Raise Income Tax Rectification Request on Portal – FAQs Q.1 When do I need to submit a rectification request? Ans. A request for rectification can be submitted on the e-Filing portal if there is any mistake apparent from record, in an Intimation issued u/s 143(1) or order u/s 154 by the CPC or […]...

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Rectification of Mistake under Section 154 of Income Act, 1961

Income Tax - Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order which is subject to appeal or revision, Initiation of rectification by whom, Time-limit for rectification, The procedure to be followed for making an application for rectification, etc....

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Section 154 of Income Tax Act – Rectification of mistake

Income Tax - Section 154 of the Income Tax Act is a very important Section and as per this section the assessee or department has a right to rectify any arithmetical error in an assessment order or assessment intimation. Section 154(1A) authorizes the Assessing Officer to give appeal effect. The assessee can file an application to CPC in […]...

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Steps for Rectification of Income Tax order/Intimation

Income Tax - Rectification of Order/Intimation The return filed by the taxpayer will be processed by Income Tax Department (ITD) and intimation will be sent to the assessee under section 143(1) based on details disclosed by the taxpayer and rules deployed at the processing center of ITD. In case, the taxpayer wants to seek rectification of a mistake [...

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AO should accept rectification application related to difference in Form No. 26AS and Amount claimed in ITR

Income Tax - Even after due efforts taken by the Government to ensure compliance relating to filing of TDS returns by the deductors, the defaults on behalf of deductors continue for one or the other reason...

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CBDT requests taxpayer to avail facility for online rectification

Income Tax - Taxpayers who are not satisfied with the outcome of processing of their Income Tax Return by the Centralized Processing Centre, Bengaluru can avail of the facility of online filing and tracking of rectification requests available on http://incometaxindiaefiling.gov.in/...

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I-T Dept introduces new facility for online submission of rectification request

Income Tax - Department introduces new facility for online submission of rectification request in cases where processing was completed by CPC Bangalore. Please review the guide for common errors to first rectify the return submitted and generate the rectification xml using excel utility (same utility is to be used)....

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Section 263 need not be invoked for computational error: ITAT

Manoj Singhal Vs PCIT (ITAT Delhi) - Manoj Singhal Vs PCIT (ITAT Delhi) On going through the details, we find that the deduction claimed u/s 54F was Rs.6,12,10,100/- whereas the deduction eligible was Rs.6,11,19,500/-. Thus, there is a computational difference of Rs.90,600/- in the claim of deduction u/s 54F which could have been recti...

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Limitation Period for second rectification should reckon from original order date

Karnataka Power Corporation Limited Vs ACIT (ITAT Bangalore) - Karnataka Power Corporation Limited Vs ACIT (ITAT Bangalore) Hon’ble jurisdictional High Court in the case of M/s. Kothari Industrial Corporation Limited v. The Agricultural Income Tax Officer reported in 230 ITR 306 had held that the period of limitation for a second rectification should be recko...

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Section 154: AO cannot revise matter decided in appeal/revision

Nikon India Pvt. Ltd. Vs DCIT (ITAT Delhi) - Nikon India Pvt. Ltd. Vs DCIT (ITAT Delhi) Section 154(1A) lays down that rectification can be done for any matter other than the matter considered and decided in appeal/revision. Thus, whene any matter had been considered and decided in any proceeding by way of appeal or revision, rectification of ...

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Section 80P Deduction eligible to Co-Op Bank Primarily engaged in Banking Business

The Chombal Service Co-operative Bank Limited Vs ITO (ITAT Cochin) - The issue under consideration is whether co-operative bank is eligible for deduction under section 80P of income tax Act, 1961 ? Co-Operative Bank is Also Eligible for Deduction u/s 80P if they Primarily Engaged in Business of Banking...

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Settlement Commission cannot re-open its concluded proceedings by invoking section 154 to levy interest

CIT Vs M.A. Jacob & Company (Madras High Court) - CIT Vs M.A. Jacob & Company (Madras High Court) The order passed on the Settlement Applications filed by the assessee is dated 07.01.2000. The second order of ITSC was passed on 19.02.2004. After those orders passed by ITSC on the issue in question, concerning the assessee, in the year 2010, the...

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CBDT requests taxpayer to avail facility for online rectification

NA - (01/04/2016) - Taxpayers who are not satisfied with the outcome of processing of their Income Tax Return by the Centralized Processing Centre, Bengaluru can avail of the facility of online filing and tracking of rectification requests available on http://incometaxindiaefiling.gov.in/...

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Dispose Rectification Application U/s. 154 in writing : CBDT

Instruction No. 02/2016 - (15/02/2016) - Instruction No. 02/2016 Section 154 of the Act mandates that rectification order shall be passed in writing by the Income Tax authorities. Therefore, on consideration of the matter, the Board hereby directs that all rectification applications must be disposed of after passing an order in writing, to...

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Pass Rectification Order U/s 154 within 6 Months: CBDT

Instruction No. 01/2016 - (15/02/2016) - Instruction No. 01/2016 section 154 stipulates that where application for amendment is made by assessee/deductor/collector with a view to rectify any mistake apparent from record, the income-tax authority concerned shall pass an order, within a period of six months from the end of the month in whic...

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Expeditious disposal of applications for rectification under section 154

225/148/2015-ITA-II - (05/06/2015) - 225/148/2015-ITA-II Expeditious disposal of applications for rectification under section 154 of the Income-tax Act, 1961 (Act) during the Financial Year 2015-16 - reg.- Union Finance Minister in his key-note address has also exhorted the Income-tax Department to be prompt in redressing the grievance...

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Rectification U/s. 154 – CBDT procedure for receipt & disposal

INSTRUCTION NO. 3/2013 - (05/07/2010) - INSTRUCTION NO. 3/2013 Hon'ble Delhi High Court vide Judgment in case of Court On its Own Motion v. UOI and Ors. in W.P. (C) 2659/2012 dated 14.03.2013 has issued several Mandamuses for necessary action by income-tax Department one of which is regarding maintenance of "Rectification Register" in whi...

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Recent Posts in "Section 154"

Section 143(1)(a)(i) intimation not required on commencement of regular Section 143(2) assessment

On commencement of regular assessment proceedings u/s 143(2) of Act , there is no need for intimation u/s 143(1)(a)(i) Where the summary procedure under section 143(1)(a)(i) has been adopted, there is scope available for the revenue to make assessment u/s 143(3) of the Act. But the converse is not available. A regular assessment proceedin...

Read More
Posted Under: Income Tax |

How to Raise Income Tax Rectification Request on Portal

How to Raise Income Tax Rectification Request on Portal – FAQs Q.1 When do I need to submit a rectification request? Ans. A request for rectification can be submitted on the e-Filing portal if there is any mistake apparent from record, in an Intimation issued u/s 143(1) or order u/s 154 by the CPC or […]...

Read More
Posted Under: Income Tax |

Section 263 need not be invoked for computational error: ITAT

Manoj Singhal Vs PCIT (ITAT Delhi)

Manoj Singhal Vs PCIT (ITAT Delhi) On going through the details, we find that the deduction claimed u/s 54F was Rs.6,12,10,100/- whereas the deduction eligible was Rs.6,11,19,500/-. Thus, there is a computational difference of Rs.90,600/- in the claim of deduction u/s 54F which could have been rectified u/s. 154. The provisions of section...

Read More

Rectification of Mistake under Section 154 of Income Act, 1961

Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order which is subject to appeal or revision, Initiation of rectification by whom, Time-limit for rectification, The procedure to be followed for making an application for rectification, etc....

Read More
Posted Under: Income Tax |

Section 154 of Income Tax Act – Rectification of mistake

Section 154 of the Income Tax Act is a very important Section and as per this section the assessee or department has a right to rectify any arithmetical error in an assessment order or assessment intimation. Section 154(1A) authorizes the Assessing Officer to give appeal effect. The assessee can file an application to CPC in […]...

Read More
Posted Under: Income Tax |

Steps for Rectification of Income Tax order/Intimation

Rectification of Order/Intimation The return filed by the taxpayer will be processed by Income Tax Department (ITD) and intimation will be sent to the assessee under section 143(1) based on details disclosed by the taxpayer and rules deployed at the processing center of ITD. In case, the taxpayer wants to seek rectification of a mistake [...

Read More
Posted Under: Income Tax |

Limitation Period for second rectification should reckon from original order date

Karnataka Power Corporation Limited Vs ACIT (ITAT Bangalore)

Karnataka Power Corporation Limited Vs ACIT (ITAT Bangalore) Hon’ble jurisdictional High Court in the case of M/s. Kothari Industrial Corporation Limited v. The Agricultural Income Tax Officer reported in 230 ITR 306 had held that the period of limitation for a second rectification should be reckoned from the date of original order, if ...

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Filing of Rectification request under section 154 of Income Tax Act

In case, if the taxpayer wants to seek rectification of a mistake in an order or intimation, which is apparent from the record, then the taxpayer can seek ‘Rectification under Section 154’....

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Posted Under: Income Tax | ,

Section 154: AO cannot revise matter decided in appeal/revision

Nikon India Pvt. Ltd. Vs DCIT (ITAT Delhi)

Nikon India Pvt. Ltd. Vs DCIT (ITAT Delhi) Section 154(1A) lays down that rectification can be done for any matter other than the matter considered and decided in appeal/revision. Thus, whene any matter had been considered and decided in any proceeding by way of appeal or revision, rectification of such matter cannot be done by […]...

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Section 80P Deduction eligible to Co-Op Bank Primarily engaged in Banking Business

The Chombal Service Co-operative Bank Limited Vs ITO (ITAT Cochin)

The issue under consideration is whether co-operative bank is eligible for deduction under section 80P of income tax Act, 1961 ? Co-Operative Bank is Also Eligible for Deduction u/s 80P if they Primarily Engaged in Business of Banking...

Read More

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