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2013 (7) TMI 545 - HC - Income TaxReassessment - Limitation period of reassessment order - Whether the appellate authorities were right in holding that issuance of notice under section 148 was clearly barred by limitation, as the same is beyond the period of four years instead of taking the extended period of six years as per section 149(1)(b) – Held that:- The reassessment proceedings were initiated clearly beyond the four years period. Therefore, the lower appellate authority as well the Tribunal were justified in passing the orders - the case does not fall under Part II of the proviso in order to escape from the limitation. If the conditions stipulated in Part II of the proviso do not exist, then, when an assessment order is passed under sub-section (3) of section 143, no action can be taken under section 147 of the Act after the expiry of four years from the end of the relevant assessment year - The end of the relevant assessment year and four years therefrom expires - When the reassessment order was barred by the law of limitation, the order passed by the authorities are in accordance with law. - Decided against the revenue.
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