August 2023
Section 154(1A) & 154(7) — Rectification of mistake — Limitation period — Order giving effect to the Appellate order — Issue sought to be rectified not subject matter of appeal — Period of limitation will be reckoned from the date of original assessment order in respect of points not subjected to appellate jurisdiction.
By Ajay R. Singh, Advocate
10. PCIT – 14 vs. M/s Godrej Industries Ltd
[ITA NO. 409 OF 201
Dated: 28th June, 2023
A.Y.: 2001-02 (Bom.) (HC)]
Section 154(1A) & 154(7) — Rectification of mistake — Limitation period — Order giving effect to the Appellate order — Issue sought to be rectified not subject matter of appeal — Period of limitation will be reckoned from the date of original assessment order in respect of points not subjected to appellate jurisdiction. The Assessee-respondent filed on 30th October, 2001, its return of income for A.Y. 2001-02 declaring income of nil, after set off of brought forward losses and depreciation and declared a book profit of Rs. 33,13,25,132. The case was selected for scrutiny and notice under section 143(2) of the Act was issued to the assessee. In the assessment order made under section 143(3) of the Act, the AO made various additions and deletions. The assessment order dated 27th February, 2004 was impugned in the appeal filed by assessee before CIT(A). By an order dated 5th October, 2004, CIT(A) partly allowed the appeal of assessee. The said order dated 5th October, 2004, was challenged by assessee in appeal filed before ITAT. The revenue also filed an appeal before ITAT against order passed by CIT(A) which came to be disposed on 30th August, 2007. ITAT disposed the appeal filed by the assessee on 5th September, 2007 by giving partial relief.
Consequent to the order of ITAT, the order giving
