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Section 154

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Period of limitation prescribed under Income-tax Act, 1961

Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...

November 3, 2023 2235 Views 1 comment Print

Rectification of Mistake Under Section 154: A Comprehensive Guide

Income Tax : Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order ...

November 2, 2023 209931 Views 29 comments Print

Total Revamp required in process of rectification, stay of collection of taxes & Appeal 

Income Tax : Proposed reforms in tax procedures: shorten rectification processing time, allow partial payment for appeals, and streamline colle...

September 28, 2023 996 Views 0 comment Print

What to do if rectification request is not considered by Assessing Officer?

Income Tax : If any mistake is apparent from the record, the Income-tax authority can rectify such mistake. An order of rectification is requ...

March 21, 2023 5136 Views 1 comment Print

Section 154: Rectification of Mistake & Section 155: Other Amendments

Income Tax : Apeksha Gupta Sometimes there may be a mistake in any order passed by the Assessing Officer. In such a situation, mistake which is...

January 5, 2023 11361 Views 0 comment Print


Latest News


Representation – Challenges in Certain Income Tax Provisions

Income Tax : KSCAA has made a Representation on Challenges in Income Tax Related to Rectification Proceedings, Order Giving Effect, Delay in P...

March 15, 2022 6564 Views 2 comments Print

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 defaul...

January 24, 2018 1521 Views 0 comment Print

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, Be...

April 1, 2016 4333 Views 1 comment Print

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 B...

December 7, 2010 615 Views 0 comment Print


Latest Judiciary


Loss on Government Securities Sale & Depreciation: ITAT allows Bank’s Claim

Income Tax : ITAT Ahmedabad allows a bank's loss on the sale of government securities and depreciation, citing regulatory compliance and busin...

May 14, 2024 402 Views 0 comment Print

Letters of Comfort will construe as an International Transaction u/s 92B

Income Tax : Issuance Of Letters Of Comfort/Support will Construe As International Transaction U/s 92B considering corporate guarantee issued b...

May 13, 2024 459 Views 0 comment Print

Section 154 Rectification Time Limit Begins Upon Assessee’s Receipt of Order

Income Tax : ITAT held that time limit for filing rectification applications starts only when assessee is aware of order passed, not from date ...

May 12, 2024 669 Views 1 comment Print

Delayed payment of Employees’ Contributions to PF, No Section 36(1)(va) Deduction

Income Tax : Trimbak Konher Patil vs ITO: Bangalore ITAT decision clarifies that if employees' contributions are not paid on time as per PF Act...

May 8, 2024 594 Views 0 comment Print

Notional Interest Income Not Taxable under Real Income principle: ITAT Mumbai

Income Tax : Mumbai ITAT ruling exempts notional interest credited as per accounting standards from taxation, citing real income principle. Det...

May 7, 2024 2667 Views 0 comment Print


Latest Notifications


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, Be...

April 1, 2016 4333 Views 1 comment Print

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

Income Tax : Instruction No. 02/2016 Section 154 of the Act mandates that rectification order shall be passed in writing by the Income Tax auth...

February 15, 2016 2550 Views 0 comment Print

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

Income Tax : Instruction No. 01/2016 section 154 stipulates that where application for amendment is made by assessee/deductor/collector with a...

February 15, 2016 5571 Views 1 comment Print

Expeditious disposal of applications for rectification under section 154

Income Tax : 225/148/2015-ITA-II Expeditious disposal of applications for rectification under section 154 of the Income-tax Act, 1961 (Act) dur...

June 5, 2015 1258 Views 0 comment Print

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

Income Tax : 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/...

July 5, 2013 10001 Views 0 comment Print


Latest Posts in Section 154

Loss on Government Securities Sale & Depreciation: ITAT allows Bank’s Claim

May 14, 2024 402 Views 0 comment Print

ITAT Ahmedabad allows a bank’s loss on the sale of government securities and depreciation, citing regulatory compliance and business activity.

Letters of Comfort will construe as an International Transaction u/s 92B

May 13, 2024 459 Views 0 comment Print

Issuance Of Letters Of Comfort/Support will Construe As International Transaction U/s 92B considering corporate guarantee issued by assessee could not be compared with the letters of comfort and therefore agreed with the computation of arm’s length rate of 0.04%.

Section 154 Rectification Time Limit Begins Upon Assessee’s Receipt of Order

May 12, 2024 669 Views 1 comment Print

ITAT held that time limit for filing rectification applications starts only when assessee is aware of order passed, not from date of order itself. Since there was no proof of intimation being served on assessee, time-barred argument by tax authorities was dismissed.

Delayed payment of Employees’ Contributions to PF, No Section 36(1)(va) Deduction

May 8, 2024 594 Views 0 comment Print

Trimbak Konher Patil vs ITO: Bangalore ITAT decision clarifies that if employees’ contributions are not paid on time as per PF Act, employer can’t claim deduction u/s 36(1)(va).

Notional Interest Income Not Taxable under Real Income principle: ITAT Mumbai

May 7, 2024 2667 Views 0 comment Print

Mumbai ITAT ruling exempts notional interest credited as per accounting standards from taxation, citing real income principle. Details of ACIT vs Kesar Terminals and Infrastructure Ltd.

ITAT Mumbai allows TDS credit despite income not being taxable in India

May 5, 2024 507 Views 0 comment Print

Even if income of Non-resident on which tax is deducted, is not taxable in India, credit is to be given for TDS on such income and excess TDS is to refunded to taxpayer.

ITAT allows deduction of interest paid on Perpetual Non-Convertible Debentures (PNCD)

April 21, 2024 498 Views 0 comment Print

ITAT Mumbai grants relief to Tata Steel Limited, allowing deduction of interest paid on Perpetual Non-Convertible Debentures (PNCD) under section 36(1)(iii) of the Act. 

Section 149 of Customs Act is an additional remedy for amendment of Bill of Entry: Kerala HC

April 20, 2024 3096 Views 0 comment Print

Kerala High Court held that Section 149 of the Customs Act is an additional remedy available to the person who seek amendment of the Bill of Entry. Thus, modification of the assessment order can be either under section 128 or under other relevant provisions of the Act i.e. Section 149.

PCIT cannot assume revisional jurisdiction on debatable issue of Tax on Interest u/s 28 of land Acquisition Act

April 19, 2024 354 Views 0 comment Print

Analysis of Om Prakash Vs PCIT (ITAT Delhi) case reveals PCIT’s jurisdiction limitations on tax issues under Land Acquisition Act Section 28.

Bombay HC Directs Disciplinary Action Against AO for 6-Year Delay in Rectification Order

April 14, 2024 18096 Views 0 comment Print

Bombay High Court directs disciplinary action against AO for not deciding on an individual’s rectification application for six years under the Income Tax Act.

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