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2014 (6) TMI 7 - ITAT DELHIPower of the CIT for revision u/s 263 – Period of limitation u/s 153A - Validity of order of recalculation of deduction u/s 80IB and 80HHC of the Act – whereas the issue of deduction u/s 80HHC was the subject matter of proceedings upto the stage of the Hon'ble High Court, that of deduction u/s 80IB was contested upto before the Tribunal. The issue is as to whether in such a circumstance, it was within the ambit of the powers of the Id. ClT to invoke the provisions of Section 263 of the Act to revise the assessment order in respect of the issue of deduction u/s 80HHC and 80IB. Held that:- Following Saw Pipes Ltd. vs. Addl. CIT [2005 (4) TMI 264 - ITAT DELHI-D] - as a result of the search conducted, no incriminating material was found and so, the issues of deduction u/s 80HHC and 80lB of the Act could not have been the subject matter of assessment u/s 153A of the Act – the order relates back to the assessment order dated 30.11.04, passed u/s 143 (3), and neither of the issues at hand are the subject matter of assessment in the order passed u/s 153A - once the issue of deductions u/s 80HHC and 80lB of the Act could not be the subject matter of assessment u/s 153A, obviously, the order passed u/s 153A is not revisable by invoking the provisions of Section 263. Deduction u/s 80HHC and deduction u/s 801B, have been the subject matter of appeal, as above. That being so, the assessment order dated 30.11.04, passed u/s 143 (3) of the Act, cannot, by any stretch of imagination, be said to have become irrelevant or shall abate – Relying upon CIT vs. Smt. Shaila Aggarwal [2011 (11) TMI 213 - ALLAHABAD HIGH COURT] - Section 153A does not have the effect of abatement of an appeal pending against the regular assessment – the proceedings have already terminated are not allowable for abatement unless the statute expressly provides for it. The limitation period for passing the order u/s 263 would start running from the date of the passing of the original assessment order, i.e., 30.11.04 - That being so, the limitation expired on 31.03.07, whereas the notice u/s 263 itself was issued on 24.01.12 – Decided in favour of Assessee.
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