ERROR
Error : As seen from the records the rectification application is filed beyond 4 years from the latest intimation/order. As per section 154 rectification application cannot be entertained after 4 year from the end of the financial year in which the order sought to be rectified has been passed.The error you’re seeing while filing an ITR rectification for the assessment year 2019-2020 is due to Section 154 of the Income Tax Act, which specifies the time limit for filing rectification requests.
Explanation of the Error:
- According to Section 154, a rectification application must be filed within 4 years from the end of the financial year in which the order or intimation was passed.
- Since you are filing the rectification for the assessment year 2019-2020, the corresponding financial year is 2018-2019.
- The intimation under Section 143(1) (for processing your return) or any other order for the financial year 2018-2019 would have been issued between April 1, 2019, and March 31, 2020.
- As per the law, the rectification request must be submitted within 4 years from the end of FY 2018-2019, i.e., before March 31, 2024.
- Since it is after March 31, 2024, your rectification application is considered time-barred.
What Can Be Done:
- No Rectification Allowed After 4 Years: Unfortunately, since more than 4 years have passed from the financial year in which the original order was passed, the rectification request cannot be processed.
- Alternative Resolution:
- Review Legal Remedies: You may want to consult a tax professional or chartered accountant to explore other remedies, like applying to higher tax authorities, such as the Income Tax Appellate Tribunal (ITAT), if you believe there has been a substantial mistake.
- Condonation of Delay: In some rare cases, taxpayers can file an application to the CBDT (Central Board of Direct Taxes) for condonation of delay, but this is only granted under exceptional circumstances.
It’s important to file rectifications within the time limit to avoid such issues.