TMI Blog2021 (10) TMI 352X X X X Extracts X X X X X X X X Extracts X X X X ..... settled and does not require elaboration. Thus, we find merit in the plea of the assessee that limitation period in such case will have to be reckoned from the original assessment and not with reference to the subsequent post search assessment which is sought to be revised. seen with reference to the original assessments for the respective assessment years, apparently the limitation period for issuance of notice prescribed under Section 263(2) of the Act stood expired. The show-cause notice issued under Section 263(1) of the Act is thus, at the threshold, time barred and thus non est. The consequential revisional order under Section 263 for both the assessment years giving directions to the Assessing Officer for revision of the impugned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us nor prejudicial to the interest of the revenue. 3. The relevant facts, in brief, are that the return of income filed by the assessee for Assessment Years 2012-13 was subjected to scrutiny assessment under Section 143(3) of the Act vide order dated 24.02.2015. Similarly, the return of income filed for Assessment Year 2013-14 was processed under Section 143(1) of the Act and stood concluded on 30.09.2014 in the absence of issuance of notice under Section 143(2) of the Act. Subsequently, after both the returns stood concluded, a search was conducted in the premises of the assessee on 08.02.2017. Assessment was consequently carried out under Section 153A r.w.s. 143(3) of the Act vide order dated 28.12.2018 for both the assessment years in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent Years 2012-13 and 2013-14 in question are erroneous insofar as prejudicial to the interest of the revenue. He consequently set aside the assessments carried out under Section 153A with reference to the above said issue for proper verification. Aggrieved, the assessee preferred an appeal before the Tribunal. 5. When the matter was called for hearing, the learned Counsel for the assessee, at the outset, adverted our attention to the additional ground taken by the assessee and claimed that jurisdiction exercised by the revisional authority with reference to impugned order under Section 153A in itself is time barred under Section 263(2) of the Act. 6. The issue being fundamental and goes to the root of the matter, the additional groun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the time of issue of notice. The issuance of notice under Section 263(1) is thus time barred and the entire subsequent proceedings are non est in law. The revisional order passed in consequence of such non est notice is thus bad in law. The learned Counsel for the assessee made reference to the decision of the Hon'ble Supreme Court in the case of CIT vs. Alagendran Finance Ltd. (2007) 293 ITR 0001 and the decisions of Hon'ble High Court in the case of CWT Vs. A.K. Thanga Pillai (2001) 252 ITR 260 (Mad); CIT Vs. Kanubhai Engineers (P.) Ltd. (2000) 241 ITR 665 (Cal) for the proposition that an issue which is not the subject matter of the assessment order under revision could not be revised under Section 263 of the Act and the period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n. Thus, we find merit in the plea of the assessee that limitation period in such case will have to be reckoned from the original assessment and not with reference to the subsequent post search assessment which is sought to be revised. When seen with reference to the original assessments for the respective assessment years, apparently the limitation period for issuance of notice prescribed under Section 263(2) of the Act stood expired. The show-cause notice issued under Section 263(1) of the Act is thus, at the threshold, time barred and thus non est. The consequential revisional order under Section 263 for both the assessment years giving directions to the Assessing Officer for revision of the impugned assessment orders passed under Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
