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2019 (1) TMI 1533 - HC - Income TaxRevision u/s 263 - claim under Section 80IB allowability - period of limitation under Section 263(2) - return filed under Section 153A - Held that:- We find that the reasons stated for revising the order under Section 263 which go to the root of the claim made under Section 80IB of the Act, which would apply to the entire amounts claimed; that in the revised return originally filed and in the return filed under Section 153A of the Act. Without revising the earlier order at Annexure-I, it would not be possible to disallow the claim further made under the return filed pursuant to notice issued under Section 153A of the Act by revising Annexure-C order. The grounds as stated in Section 263 order was available to the Revenue even as against the original order passed at Annexure-I. No interference of the allowance granted by the Assessing Officer having been attempted under Section 263 of the Act; the issue stands settled for that assessment year. As for the enhanced claim made under Section 80IB not being sustainable in a return filed pursuant to a notice issued under Section 153A; it was never raised by the CIT in the order under Section 263. In such circumstances, we are of the opinion that the limitation in so far as interfering with the claim under Section 80IB of the Act has to commence from the first order at Annexure-I, which is dated 31.08.2005. The order under Section 263 of the Act had been passed long after the limitation expired and hence we are unable to sustain the same. We answer the question of law in favour of the assessee and against the Revenue, in so far as the limitation aspect is considered. - Decided in favour of the assessee
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