Law:

Section:

Section 154 of the Income-tax Act, 1961 - Rectification of mistakes - Apparent from records - Assessment year 1996-97 - Assessee-company filed its return for relevant assessment year - Assessing Officer completed assessment under section 143(3) - Subsequently, Assessing Officer sought to rectify assessment order on ground that certain payment by way of provident fund contribution and Employees' State Insurance contribution was made by assessee beyond due dates - Whether since documents available before Assessing Officer did not apparently disclose what were due dates of said contributions, notice under section 154 could not have been issued - Held, yes - Whether, therefore, proceeding under section 154 was liable to be quashed - Held, yes FACTS The assessee-company was engaged in the business of manufacture and sale of jute goods. For the relevant assessment year, the assessee filed its return declaring assessable income as nil. The assessment was made under section 143(3). Subsequently, the Assessing Officer issued a notice to the assessee under section 154 proposing to rectify the assessment order on the ground that certain payments by way of provident fund contributions and employees' State Insurance contributions had been made by the assessee-company as an employer beyond the due dates. After hearing the assessee, the Assessing Officer passed the order of rectification disallowing certain sum on the ground that the said amount had been paid by the assessee after the due dates as per relevant Acts/Rules. The Tribunal upheld the rectification. On appeal : HELD The assessment order was passed by the Assessing Officer and thereafter, rectification proceeding was taken issuing a notice under section 154. The notice showed that the mistake alleged therein was not adding back disallowing of the provident fund contributions and Employees' State Insurance contributions paid after the due dates. [Para 20] From the records, it was apparent that the materials available at that stage before the Assessing Officer, only had the audit report along with the statement of particulars in the prescribed Form No. 3 CD and the statement of tax duty or other sum debited to the…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492