2014 (11) TMI 1059

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....ent petition are that the petitioner filed its return of income for the A.Y. 1999-2000 on 30.12.1999. Pursuant thereto, the return of the petitioner came to be processed on 22.03.2001. The petitioner filed revised return on 27.03.2001. Subsequent thereto, the petitioner was issued notice under Section 148 of the Act and final assessment order came to passed on 23.03.2005. Against the same, the petitioner preferred an appeal before the CIT(A), which came to be partly allowed, giving effect to the said order with effect from 31.08.2005. The petitioner and the respondent-Revenue, then, approached the Tribunal by way of appeals, raising various grounds. Pending the aforesaid appeals, the petitioner was issued notice under Section 263 of the Act....

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....: 21.08.2013, Tax Appeal No. 227 of 2013 and the allied matters; (3) "BROADWAY OVERSEAS LTD. VS. COMMISSIONER OF INCOME-TAX, JALANDHAR-1", [2014] taxmann.com 75 (Punjab & Haryana) (4) "COMMISSIONER OF INCOME TAX VS. ATUL INTERMEDIATES", [2014] 45 taxmann.com 275 (Gujarat) 7. Heard, learned Counsels for the parties and perused the material on record, including the order passed by the CIT(A) as well as the notice under Section 263 of the Act issued by the Revenue. 8. In this petition, a short question, which arise for our consideration, is that as to whether, the revenue could have issued notice under Section 263 of the Act, despite the fact that, against the original order of assessment, the assessee had preferred app....

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....revised return. It is pertinent to note that, thereafter, the final assessment order came to be passed on 23.03.2005, after modifying the claim of the assessee for deduction under Sections 80HHC and 80IA of the Act, i.e. after some addition / disallowances. The assessee, hence, preferred an appeal before the CIT(A), raising various grounds including the ground of modification of his claim for deduction under Section 80HHC and 80IA of the Act, which came to be partly allowed by the CIT(A). However, as the assessee and the revenue were not satisfied with the same, they preferred separate appeals, raising all the grounds including the modification of claim for deduction under Section 80HHC and 80IA of the Act etc. and the Tribunal fixed the ma....