52[Rectification of mistakes.
35. (1) With a view to rectifying any mistake
apparent from the record—
(a) the 53[Assessing
Officer] may amend any order of assessment or of refund or any other order
passed by him;
54[(aa) a wealth-tax authority may amend any intimation
or deemed intimation under sub-section (1) of section 16;]
55[56[(aaa)] the
Valuation Officer may amend any order passed by him under section 16A;]
57[(b) the 58[Joint]
Director or 58[Joint] Commissioner or Director or Commissioner or Deputy
Commissioner (Appeals) or Commissioner (Appeals) may amend any order passed by
him under section 18A;]
59[(c) the
Deputy Commissioner (Appeals) or Commissioner (Appeals) may amend any order
passed by him under section 23 60[or
section 23A];
(d) the
Commissioner may amend any order passed by him under section 25;
(e) the
Appellate Tribunal may amend any order passed by it under section 24.]
(2) Where the amount of tax, penalty or interest determined as a result
of the first appeal or revision against the order referred to in sub-clause (iii) of clause (m) of section 2 61[, as it existed immediately before its
amendment by the Finance Act, 1992,] is paid within six months of the date of
the order passed in such appeal or revision, the 62[Assessing Officer] may, notwithstanding
anything to the contrary in this Act, rectify the assessment by allowing a
deduction to the extent the tax, penalty or interest so paid stood disallowed
therein as if such rectification were a rectification of a mistake apparent
from the record.
(3) Subject to the other provisions of this section, the authority
concerned—
(a) may
make an amendment under sub-section (1) or sub-section (2) of its own motion;
(b) shall
make such amendment for rectifying any such mistake which has been brought to
its notice by the assessee, and where the authority concerned is the 63[Valuation Officer or the ] 64[Deputy Commissioner (Appeals)] 65[or the Commissioner (Appeals)] or the Appellate Tribunal,
by the 66[Assessing Officer] also.
(4) An
amendment, which has the effect of enhancing an assessment or reducing a refund
or otherwise increasing the liability of the assessee, shall not be made under
this section unless the authority concerned has given notice to the assessee of
its intention so to do and has allowed the assessee a reasonable opportunity of
being heard.
(5) Where an amendment is made under this section, an order shall be
passed in writing by the wealth-tax authority concerned or the Tribunal, as the
case may be.
(6) Where any such amendment has the effect of enhancing the assessment
or reducing a refund already made, the 67[Assessing Officer] shall serve on the
assessee a notice of demand in the prescribed form specifying the sum
payable and such notice of demand shall be deemed to be issued under section 30
and the provisions of this Act shall apply accordingly.
68[(6A) Where any amendment made by the Valuation Officer under clause (aa)
of sub-section (1) has the effect of enhancing the valuation of any asset, he
shall send a copy of his order to the 67[Assessing Officer] who shall thereafter proceed to amend the order of
assessment in conformity with the order of the Valuation Officer and the
provisions of sub-section (6) shall apply accordingly.]
(7) No amendment under this
section shall be made after the expiry of four years—
(a) in
the case of an amendment under sub-section (2), 69[from the end of the financial year in which the order was
passed in the first appeal or revision] referred to in that sub-section; and
(b) in
any other case, 70[from
the end of the financial year in which the order sought to be amended was
passed].
71[(7A) Notwithstanding anything contained in sub-section (7), where the
valuation of any asset has been enhanced by the Valuation Officer under this
section, the consequential amendment to the order of assessment may be made by
the 72[Assessing Officer] at any time before the
expiry of one year from the date of the order of the Valuation Officer under
this section.]
(8) Where any matter has been considered and decided in a proceeding by
way of an appeal or revision relating to an order referred to in sub-section
(1), the authority passing such order may, notwithstanding anything contained
in any other law for the time being in force, amend the order under this
section in relation to any matter other than the matter which has been so considered
and decided.]