| |
| The Tax Publishers2020 TaxPub(DT) 2119 (Del-Trib) : (2020) 079 ITR (Trib) 0636 INCOME TAX ACT, 1961
Section 263(2)
Since issue subject to revision was pertaining to original assessment i.e. 16-1-2014 and not the reopened assessment i.e. 30-12-2016, therefore, impugned order under section 263 passed on 26-2-2019 being clearly beyond the limitation prescribed under section 263(2) was quashed.
|
Revision under section 263 - Erroneous and prejudicial order - Bar of limitation - Issue pertained to original assessment and not the reopened assessment
CIT sought to revise assessment order and order under section 263 was passed on 26-2-2019. Assessee challenged the order as barred by limitation on the ground that assessment order passed under section 143(3) on 16-1-2014. CIT sought to consider period of limitation from the date of passing of reassessment order under section 143(3) read with section 147, i.e., 30-12-2016. Assessee's case was that issue subject to revision had not been a subject matter of reassessment.Held: Since issue subject to revision was pertaining to original assessment and not the reopened assessment; limitation should also start from the original assessment. As original assessment order under section 143(3) was passed on 16-1-2014, revision thereof could have been taken up to 31-3-2016. Accordingly, impugned order under section 263 passed on 26-2-2019 being clearly beyond the limitation prescribed under section 263(2) was quashed.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
 SUBSCRIBE FOR FULL CONTENT
OR Try Reload the Page |