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2021 (10) TMI 673 - AT - Income TaxRevision u/s 263 by CIT - validity of the revision order passed beyond the period of limitation prescribed u/s 263(2) - reopening of assessment u/s 147 commenced in the case of assessee - HELD THAT:- As reopening of assessment as contemplated under section 147 of the Act is for the specific purpose of assessing the escaped income - in a reassessment proceeding, the assessing officer can only assess that income which has escaped assessment. The income which is subject matter of assessment in the original assessment proceedings or which was in the domain of the assessing officer in course of original assessment proceedings certainly cannot be considered in the re-assessment proceedings - If at all, any order which can be considered to be erroneous and prejudicial to the interest of revenue for non consideration of the issues raised by learned PCIT, certainly, it has to be the original assessment order passed u/s 143(3) of the Act and not the re-assessment order passed u/s 143(3) r.w.s. 147 - PCIT could have exercised her powers u/s 263 of the Act only in respect of the original assessment order passed under section 143(3). As the original assessment order having been passed on 06-02-2014, the impugned order passed under section 263 of the Act is barred by limitation in view of section 263(2) of the Act. At this stage, we consider it our duty to deal with the submissions of learned departmental representative that the assessee did not represent its case before learned PCIT and did not raise the issue of limitation. On perusal of records, it is seen that learned PCIT issued the show cause notice under section 263 of the Act on 08-03- 2021 and passed the impugned order on 19-03-2021 with undue haste. In fact, the assessee has raised specific grounds before us, being grounds 8 and 9, to the effect that neither hearing notice was issued to the assessee nor any opportunity of being heard was provided. - Decided in favour of assessee.
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