Section 263 ITAT DELHI on May 14, 2020 Issues subject to revision u/s 263 were pertaining to original assessment u/s 143(3) and not the reopened assessment u/s 147; the limitation should also start from the original assessment. In this case as original assessment order u/s 143(3) of the act was passed on 16.01.2014, the revision thereof could have been taken up to 31.3.2016. Impugned order u/s 263 of the act was passed on 26/2/2019, therefore it is clearly beyond the limitation prescribed u/s 263 (2) of the act. JINDAL STEEL & POWER LTD. vs. PCIT
Section 263 ITAT DELHI on May 14, 2020 Issues subject to revision u/s 263 were pertaining to original assessment u/s 143(3) and not the reopened assessment u/s 147; the limitation should also start from the original assessment. In this case…
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