TMI Blog2002 (8) TMI 50X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income-tax has the power to revise the order of the Assessing Officer on the issues which are not taken in appeal before the Commissioner of Income-tax (Appeals), but if the limitation has expired, the Commissioner of Income-tax cannot revise the original order of the Income-tax Officer beyond the period of limitation. The period of limitation in this case is two years from the date of the orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n December 16, 1988. While framing the assessment, the assessee was granted deduction under section 32AB at the rate of 20 per cent. of the book profits. As the assessee was aggrieved on certain additions/disallowances made in the original order, he preferred an appeal before the Commissioner of Income-tax (Appeals). Out of three grounds taken before the Commissioner of Income-tax (Appeals), two g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l to the interests of the Revenue. After giving due opportunity of hearing to the assessee, the Commissioner of Income-tax made an order under section 263 of the Act directing the Assessing Officer to reframe the assessment after re-examining the claim of the assessee for deduction under section 32AB of the Act. In appeal before the Tribunal, the Tribunal held that the period of limitation start ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r of the Commissioner of Income-tax under section 263 of the Act. The admitted facts are that the original assessment order has been made on December 16, 1988. The assessee thereafter filed the appeal before the Commissioner of Income-tax (Appeals) but no ground was taken regarding deduction under section 32AB of the Act. Thereafter, the Commissioner of Income-tax (Appeals) has issued notice and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the issues which are not taken in appeal before the Commissioner of Income-tax (Appeals), but if the limitation has expired, the Commissioner of Income-tax cannot revise the original order of the Income-tax Officer beyond the period of limitation. The period of limitation in this case is two years from the date of the order sought to be revised, i.e., December 16, 1988, but the order of the Comm ..... X X X X Extracts X X X X X X X X Extracts X X X X
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