CBDT Instruction on Section 154 Of The Income-Tax Act, 1961 – Rectification Of Mistake – Apparent From Records – Following Prescribed Time-Limit In Passing Order Under Section 154(8)


SECTION 154 OF THE INCOME-TAX ACT, 1961 – RECTIFICATION OF MISTAKE – APPARENT FROM RECORDS – FOLLOWING PRESCRIBED TIME-LIMIT IN PASSING ORDER UNDER SECTION 154(8) INSTRUCTION NO.1/2016 [F.NO.225/305/2015-ITA.II], DATED 15-2-2016 Sub-section (8) of section 154 of the Income-tax Act, 1961 (‘Act’) stipulates that where an application for amendment is made by assessee/deductor/collector with a view to…

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