https://www.taxtmi.com/caselaws?id=774385 The HC upheld the Tribunal's decision setting aside a revision order u/s 263 as time-barred. Revenue argued the two-year limitation period should be calculated from the reassessment order date (30.12.2009) rather than the original assessment order date (31.08.2006). The HC held that since the reassessment concerned capital gains computation while the Section 263 revision addressed Section 43B deductions covered in the original assessment, the limitation period must be reckoned from the original assessment order date. The revision order was therefore time-barred and properly set aside. en-us Tue, 01 Jul 2025 00:00:00 +0530 Tue, 08 Jul 2025 08:36:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774385 The HC upheld the Tribunal's decision setting aside a revision order u/s 263 as time-barred. Revenue argued the two-year limitation period should be calculated from the reassessment order date (30.12.2009) rather than the original assessment order date (31.08.2006). The HC held that since the reassessment concerned capital gains computation while the Section 263 revision addressed Section 43B deductions covered in the original assessment, the limitation period must be reckoned from the original assessment order date. The revision order was therefore time-barred and properly set aside. Case-Laws Income Tax Tue, 01 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774385