https://www.taxtmi.com/caselaws?id=367805 The Tribunal held that the assessment order dated 31/03/2016 was barred by limitation under section 153-B of the Income Tax Act, 1961. As the order was deemed non-est due to being time-barred, the Principal Commissioner of Income Tax lacked jurisdiction to revise it under section 263. The dismissal of the Special Leave Petition by the Supreme Court did not constitute a judgment affecting the assessment order. The Tribunal also found the Assessing Officer's decision to restrict the disallowance of bogus purchases to a certain percentage was a plausible view, not subject to revision. Consequently, the Tribunal quashed the revision order, allowing all appeals of the assessee. en-us Wed, 05 Sep 2018 00:00:00 +0530 Wed, 26 Sep 2018 08:48:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367805 The Tribunal held that the assessment order dated 31/03/2016 was barred by limitation under section 153-B of the Income Tax Act, 1961. As the order was deemed non-est due to being time-barred, the Principal Commissioner of Income Tax lacked jurisdiction to revise it under section 263. The dismissal of the Special Leave Petition by the Supreme Court did not constitute a judgment affecting the assessment order. The Tribunal also found the Assessing Officer's decision to restrict the disallowance of bogus purchases to a certain percentage was a plausible view, not subject to revision. Consequently, the Tribunal quashed the revision order, allowing all appeals of the assessee. Case-Laws Income Tax Wed, 05 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367805