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TMI Blog2023 (12) TMI 644X X X X Extracts X X X X X X X X Extracts X X X X ..... n time as per section 154(7) of the Act. For determining the limitation period u/s. 154(7), the AO has adopted the date of the order u/s. 143(1) as his starting point. He has however ignored the fact that the final response from the CPC is dated 04-12-2018 which was in turn in response to objection raised by the assessee against the demand. We further note that the CIT(Appeals) has remitted the issue back to the AO for verifying the claim of assessee of brought forward losses and allow the same. We find no infirmity in the order of the CIT(Appeals). Appeal by the revenue is dismissed. - Shri George George K., Vice President And Shri Laxmi Prasad Sahu, Accountant Member For the Appellant : Shri S.K. Tulsiyan, Advocate For th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r on 04.12.2018. Thereafter, assessee filed rectification application u/s. 154 before the AO on 26.09.2022 which was rejected by the AO by observing that the rectification application u/s. 154 for AY 2016-17 is time barred. 3. Aggrieved, the assessee filed appeal before the CIT(Appeals). The CIT(Appeals) observed that the rectification application u/s. 154 filed by the assessee is within time as per section 154(7) of the Act and assessee is eligible for set off of unabsorbed depreciation from the income of the current year and allow the appeal of the assessee. Aggrieved, the revenue is in appeal before the ITAT. 4. The ld. DR submitted that the assessee did not file rectification application before the AO as per section 154(7) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led rectification application u/s. 154 on 26.09.2022 before the AO, which was rejected as time barred by limitation. On appeal, the CIT(Appeals) has held as follows :- 5. I have carefully considered the matter. Ground 1 both the appeals is general in nature. Grounds 2 3 for the AY 2016-17 are against the AO holding that the rectification application is barred by limitation u/s. 154(7). I find that for determining the limitation period u/s. 154(7), the AO has adopted the date of the order u/s. 143(1) as his starting point. He has however ignored the fact that the final response from the CPC is dated 04-12-2018 which was in turn in response to objection raised by the assessee against the demand. On these facts, I am of the view that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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