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2022 (6) TMI 331 - AT - Income TaxRevision u/s 263 - period of limitation - survey u/s. 133A was conducted by Investigation Wing and the case was re-assessed u/s. 143(3) r.w.s. 147 - HELD THAT:- As stated that the subsequent survey u/s. 133A was conducted by Investigation Wing and the case was re-assessed u/s. 143(3) r.w.s. 147 of the Act dated 22.12.2017. Also argued that the passing order on 27.03.2021, is clearly barred by limitation in the provision u/s. 263(2) of the Act. In support of this contention, the Ld. Representative of the assessee has placed reliance upon the decision in the case of Ashoka Buildcon Ltd. [2010 (4) TMI 152 - BOMBAY HIGH COURT] and Western India Turf Club [2021 (10) TMI 673 - ITAT MUMBAI] However, on the other hand, the Ld. Representative of the Department has refuted the said contention. The factual position is not in dispute. The original assessment was completed on 21.03.2021 u/s. 143(3) of the Act. However, the case of the assessee was again reopened and the assessment u/s. 143(3) r.w.s. 147 of the Act was completed 22.12.2017. No doubt, original assessment order is liable to be considered to reckon the limitation and accordingly passing the order on 21.03.2021 u/s. 263(2) of the Act is clearly barred by limitation which is beyond two years. Therefore, we set aside the order passed by the Ld. PCIT in question. Accordingly, we decide this issue in favour of the assessee against the revenue.
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