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2013 (7) TMI 585 - DELHI HIGH COURTRevision u/s 263 - Period of limitation - Whether period of limitation will commence from first order of assessment or second order of re-assessment - Held that:- Commissioner of Income-Tax exercising its revisional jurisdiction reopened the order of assessment only in relation to lease equalisation fund which being not the subject of the reassessment proceedings, the period of limitation provided for under sub-section (2) of section 263 of the Act would begin to run from the date of the order of assessment and not from the order of reassessment. The revisional jurisdiction having, thus, been invoked by the Commissioner of Income Tax beyond the period of limitation, it was wholly without jurisdiction rendering the entire proceeding a nullity - once reassessment order was passed, original underassessment was set aside, to the extent of underassessment but not in respect of matters covered by the original assessment and not subject matter of reassessment proceedings or order - Following decision of Commissioner of Income Tax versus Alagendran Finance Limited [2007 (7) TMI 304 Supreme Court] - Decided against Revenue.
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