Rectification of mistake apparent under:
ASection 154
BSection 144
CSection 147
DSection 263
Answer & Solution
Correct answer: A. Section 154
1. Section 154: authority can rectify mistake apparent from record.
2. Suo motu or on application.
3. Time limit: 4 years from end of FY of order. Hearing required if reducing refund/increasing liability.
_Source: ICAI BoS CA Final Paper 7, Ch 15 "Assessment Procedure"_
Related questions
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