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2014 (10) TMI 178 - AT - Income TaxRevision u/s 263 – Bar of limitation - Income offered on expenses re-imbursed and deduction on reimbursable expenses – Held that:- The assessment originally completed under S.143(3) for the year was subsequently reopened by the AO only on the issue of disallowance made u/s 43B on account of service tax payable - Following the decision in Commissioner Of Income-Tax Versus Alagendran Finance Ltd. [2007 (7) TMI 304 - SUPREME Court] - the period of limitation as provided u/s 263(2) has to be reckoned from the date of the original assessment passed u/s 143(3) and not from the date of re-assessment passed under S.143(3) read with S.147 of the Act, as the issues on which assessment was sought to be revised were not the subject matter of re-assessment made under S.143(3) read with S.147 - the order passed by the DIT u/s 263 revising the assessment passed under S.143(3) on 31.12.2008 is barred by limitation, having been passed after a period of two years form the end of the financial year in which the order u/s 143(3) sought to be revised was passed – thus, upholding the preliminary legal ground raised by the assessee, the order u/s 263 is to be held as invalid – Decided in favour of assessee.
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