https://www.taxtmi.com/caselaws?id=794535 Revision under section 263 was barred by limitation because the issues taken up in revision were not the subject matter of the reassessment. The reassessment concerned accommodation entries, while the revisionary order addressed different matters, including section 50C valuation and bank deposits. In such a situation, limitation under section 263(2) runs from the original assessment order, not the reassessment order. As the revision was passed beyond two years from the end of the financial year in which the original assessment order was made, it was time-barred and quashed. en-us Wed, 01 Jul 2026 00:00:00 +0530 Tue, 07 Jul 2026 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794535 Revision under section 263 was barred by limitation because the issues taken up in revision were not the subject matter of the reassessment. The reassessment concerned accommodation entries, while the revisionary order addressed different matters, including section 50C valuation and bank deposits. In such a situation, limitation under section 263(2) runs from the original assessment order, not the reassessment order. As the revision was passed beyond two years from the end of the financial year in which the original assessment order was made, it was time-barred and quashed. Case-Laws Income Tax Wed, 01 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794535