Notice u/s 263 Set Aside Due to Excessive Delay; No Limitation Period u/s 153(3) for Reassessment.

Notice u/s 263 Set Aside Due to Excessive Delay; No Limitation Period u/s 153(3) for Reassessment. https://www.taxtmi.com/highlights?id=47089 Revision u/s 263 - impugned notice which seeks to give effect to an order u/s 263 for revision u/s 143(3) falls u/s 153(3) and not u/s 153 (2A) - there is no limitation prescribed u/s 153(3) for reassessment or recomputation - However, the delay of 8 years and 7 months in initiating such proceedings is inordinate and therefore fatal to the Department - notice set aside en-us Tue, 11 Jun 2019 06:27:12 +0530 Mon, 10 Jun 2019 10:12:37 +0530 TaxTMI RSS Generator Notice u/s 263 Set Aside Due to Excessive Delay; No Limitation Period u/s 153(3) for Reassessment. https://www.taxtmi.com/highlights?id=47089 Revision u/s 263 - impugned notice which seeks to give effect to an order u/s 263 for revision u/s 143(3) falls u/s 153(3) and not u/s 153 (2A) - there is no limitation prescribed u/s 153(3) for reassessment or recomputation - However, the delay of 8 years and 7 months in initiating such proceedings is inordinate and therefore fatal to the Department - notice set aside Highlights Income Tax Tue, 11 Jun 2019 06:27:12 +0530 https://www.taxtmi.com/highlights?id=47089