TMI Blog2015 (10) TMI 2025X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal or reference under this Act. Hence, in our considered opinion, the limitation u/s 150 (2) is not applicable in respect of appeal effect order to be passed u/s 153. Hence, this objection also has no merit. As per above discussion, we have seen that there is no merit in any of the contentions raised by the assessee in the Misc. Application. Therefore, we hold that there is no merit in the Misc. Application of the assessee. - Decided against assessee. - M.A. No.77/LKW/2015 - - - Dated:- 10-9-2015 - SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER For The Applicant : Shri P. K. Kapoor, C.A. For The Respondent : Shri Amit Nigam, D. R. ORDER PER A. K. GARODIA, A.M. This Misc. Application is filed by the assessee, the contents of which are running into 16 pages. From Para 11.1 to 14 of the Misc. Application being pages 9 to 12, it is stated that some technical aspects, such as validity of reassessment proceedings and validity of notice u/s 143(2) etc. were either not decided in the impugned Tribunal order or were wrongly decided. On this aspect, we do not find any merit in this Misc. Application because these issues are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the assessee has never come out and stated about the year in which the transfer took place. In fact, even the judgment of Hon ble High Court is on the basis of circumstantial evidence because the assessee has not brought on record any direct evidence about the year of transfer even before Hon ble High Court. In our considered opinion, under these facts, the consequential direction given by the tribunal is not suffering from any apparent mistake. 4. In Para 16.1 of the Misc. Application, it has been contended that this direction of the Tribunal to the Assessing Officer to tax the capital gain in assessment year 2002-03 is illegal for the reason that the same is barred by limitation. 5. In this regard, we would like to observe that it is stated by the Tribunal in Para 14.1 of the impugned Tribunal order that the Assessing Officer is directed to compute the capital gain in assessment year 2002-03 in accordance with law and tax the same. Hence, even if there is some illegality in the direction of the Tribunal, it cannot constitute an apparent mistake in the impugned Tribunal order particularly in view of express provisions of section 153 of the I T Act specifying time limit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1B) No order of assessment or reassessment shall be made under section 115WG after the expiry of nine months] from the end of the financial year in which the notice under section 115WH was served. (2) No order of assessment, reassessment or recomputation shall be made under section 147 after the expiry of one year] from the end of the financial year in which the notice under section 148 was served: Provided that where the notice under section 148 was served on or after the 1st day of April, 1999, but before the 1st day of April, 2000, such assessment, reassessment or recomputation may be made at any time up to the 31st day of March, 2002: Provided further that where the notice under section 148 was served on or after the 1st day of April, 2005,but before the 1st day of April, 2011] the provisions of this sub-section shall have effect as if for the words one year , the words nine months had been substituted :] Provided also that where the notice under section 148 was served on or after the 1st day of April, 2006 but before the 1st day of April, 2010] and during the course of the proceedings for the assessment or reassessment or recomputation of total incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r or Commissioner] or, as the case may be, the order under section 263 or section 264 is passed by the Principal Commissioner or Commissioner] on or after the 1st day of April, 2005 but before the 1st day of April, 2011], the provisions of this sub-section shall have effect as if for the words one year , the words nine months had been substituted : Provided also that where the order under section 254 is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Principal Commissioner or Commissioner on or after the 1st day of April, 2006 but before the 1st day of April, 2010, and during the course of the proceedings for the fresh assessment of total income, a reference under sub-section (1) of section 92CA- (i) was made before the 1st day of June, 2007 but an order under sub-section (3) of section 92CA has not been made before such date; or (ii) is made on or after the 1st day of June, 2007, the provisions of this sub-section shall, notwithstanding anything contained in the second proviso, have effect as if for the words one year , ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt or the prescribed authority, the contravention of the provisions of clause (21) or clause (22B) or clause (23A) or clause (23B) or sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, under clause (i) of the proviso to sub-section (3) of section 143 and ending with the date on which the copy of the order withdrawing the approval or rescinding the notification, as the case may be, under those clauses is received by the Assessing Officer; (iii) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited under sub-section (2A) of section 142 and- (a) ending with the last date on which the assessee is required to furnish a report of such audit under that subsection; or (b) where such direction is challenged before a court, ending with the date on which the order setting aside such direction is received by the Principal Commissioner or Commissioner], or (iv) the period commencing from the date on which the Assessing Officer makes a reference to the Valuation Officer under sub-section (1) of section 142A and ending with the date on which the report of the Val ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le to the Assessing Officer for making an order of assessment, reassessment or recomputation, as the case may be, is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly: Provided further that where a proceeding before the Settlement Commission abates under section 245HA, the period of limitation available under this section to the Assessing Officer for making an order of assessment, reassessment or re-computation, as the case may be, shall, after the exclusion of the period under sub-section (4) of section 245HA, be not less than one year; and where such period of limitation is less than one year, it shall be deemed to have been extended to one year; and for the purposes of determining the period of limitation under sections 149, 153B, 154, 155, 158BE and 231 and for the purposes of payment of interest under section 243 or section 244 or, as the case may be, section 244A, this proviso shall also apply accordingly. Explanation 2 : Where, by an order referred to in clause (ii) of sub-section (3), any income is excluded from the total income of the assessee for an as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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