Period of limitation to seek rectification under sec. 254 to be counted from date of actual receipt of order

Section 254 of the Income-tax Act, 1961 - Appellate Tribunal - Powers of (Power to rectify mistakes) - Assessment year 1996-97 - Whether once it is found that rectification application under section 254(2) has been submitted within a period of four years from date of actual receipt of judgment and order passed by Tribunal, which is sought to be reviewed, same is required to be decided on merits and in such a situation assessee is not required to give any explanation for period between actual date of receipt of judgment and order, which is sought to be reviewed and date on which miscellaneous application is submitted - Held, yes [Paras 12 and 13] [In favour of assessee]

Refer:[2014] 44 taxmann.com 302 (Gujarat)

HIGH COURT OF GUJARAT
Peterplast Synthetics (P.) Ltd.
v.
Assistant Commissioner of Income-tax