https://www.taxtmi.com/caselaws?id=239882 The Tribunal ruled in favor of the assessee, holding that the Commissioner's order invoking suo motu jurisdiction under Section 263 was time-barred. The Tribunal emphasized that the initiation of proceedings under Section 263 should be based on the original assessment order accepting the book profit, not subsequent orders following the First Appellate authority's decision. The Tribunal considered the assessing authority's acceptance of the book profit computation on 28.12.2007 as the relevant criterion for the limitation issue, dismissing the appeal on the grounds that the initiation of proceedings under Section 263 was not justified based on the timing and reference point of the assessment order. en-us Thu, 07 Nov 2013 00:00:00 +0530 Sat, 23 Nov 2013 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239882 The Tribunal ruled in favor of the assessee, holding that the Commissioner's order invoking suo motu jurisdiction under Section 263 was time-barred. The Tribunal emphasized that the initiation of proceedings under Section 263 should be based on the original assessment order accepting the book profit, not subsequent orders following the First Appellate authority's decision. The Tribunal considered the assessing authority's acceptance of the book profit computation on 28.12.2007 as the relevant criterion for the limitation issue, dismissing the appeal on the grounds that the initiation of proceedings under Section 263 was not justified based on the timing and reference point of the assessment order. Case-Laws Income Tax Thu, 07 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239882