2016 (8) TMI 953

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....facturing/marketing of mosquito repellent, mats, coils etc., filed its return of income on 27/10/205, declaring income at Rs. NIL. The AO completed the assessment, u/s.143 (3) of the Act, on 28/11/2008, determining the income of the assessee at Rs. 6.46 crores under the normal provisions and at Rs. 40.89 crores under the MAT provisions(u/s.115 JB of the Act).Aggrieved by the 143(3) order of the AO, the assessee preferred an appeal before the First Appellate Authority (FAA). An order giving effect to the order of the FAA was passed on 12/10/2011,revising the total income of the assessee at Rs. 3.05 lakhs under normal provisions and at Rs. 40.89 crores u/s.115JB. On verification of the records,the AO held that the assessee had debited an a....

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....te proceedings this issue was not raised before him,that for counting the limitation period date to be recognised was date on which the original assessment was passed, that the order u/s.154 had to be passed within four years from the end of the assessment year in which the original assessment order was completed. Accordingly, he held that order passed by the AO on 17/01/2014 was barred by limitation. 4. During the course of hearing before us, the Departmental Representative (DR) relied upon the case of Tony Electronics Ltd. (320 ITR 378) of the Honorable Delhi High Court. The Authorised Representative(AR)relied upon the order of the FAA and referred to the cases of Seksaria Cotton Mills Ltd.(124ITR 570);Kirloskar Systems Ltd.(220Taxmann....