CIRCULAR NO
4/2012, Dated: June 20, 2012
Subject: - Rectification/ Reconciliation of arrear demand disputed by the Assessee- correction by the Assessing Officer- Regarding.
The Board has
been apprised that in certain cases the assessees have disputed the
figures of arrear demands shown as outstanding against them in the
records of the Assessing Officer. The Assessing Officers have expressed
their inability to correct/ reconcile such disputed arrear demand on the
ground that the period of limitation of four years as provided under
sub section (7) of section 154 of the Act has expired.
Further, in some
cases, the Assessing Officers have uploaded such disputed arrear demand
on the Financial Accounting System (FAS) portal of Centralized
Processing Center (CPC), Bengaluru which has resulted in adjustment of
