https://www.taxtmi.com/caselaws?id=271076 The High Court affirmed the Tribunal's decision in a case concerning the time limitation for the revision of an income tax order under Section 263 of the Income Tax Act. The Court held that the two-year period for revision should be calculated from the date of the original order passed by the Assessing Officer. As the issue of book profits under Section 115JB was only addressed in the initial order and not revisited in subsequent proceedings, the Respondent's Appeal was allowed. The Court emphasized the importance of the original order in determining the time limit for revision, dismissing the Appeal as no substantial question of law arose. en-us Thu, 07 Jan 2016 00:00:00 +0530 Sat, 23 Jan 2016 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271076 The High Court affirmed the Tribunal's decision in a case concerning the time limitation for the revision of an income tax order under Section 263 of the Income Tax Act. The Court held that the two-year period for revision should be calculated from the date of the original order passed by the Assessing Officer. As the issue of book profits under Section 115JB was only addressed in the initial order and not revisited in subsequent proceedings, the Respondent's Appeal was allowed. The Court emphasized the importance of the original order in determining the time limit for revision, dismissing the Appeal as no substantial question of law arose. Case-Laws Income Tax Thu, 07 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271076