TaxTMI 
TaxTMI 
2021 (10) TMI 363
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....x Appellate Tribunal (hereinafter referred to as the learned ITAT) in ITA No.2244/Mds/2012, the revenue has preferred the present appeal. 2. The facts leading to the present appeal in nutshell are as under: 2.1 The Assessing Officer (hereinafter referred to as the AO) passed an assessment order under Section 143 (3) of the Income Tax Act (hereinafter referred to as the Act) for the assessment year (AY) 2008-09 vide assessment order dated 30.12.2010. The Commissioner of Income Tax initiated revision proceeding under Section 263 of the Act to revise the assessment order passed by the learned Assessing Officer and issued a notice to the assessee respondent herein on 01.02.2012. The assessee - respondent herein filed written submissions on 07....
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.... the learned Commissioner was beyond the period of limitation prescribed/mentioned under Section 263 (2) of the Act. Vide order dated 04.04.2013 the learned ITAT accepted the contention on behalf of the assessee - respondent herein and allowed the appeal filed by the assessee by holding that the revision order passed by the learned Commissioner was passed beyond the period of limitation. 2.3 Feeling aggrieved and dissatisfied with the order passed by the learned ITAT quashing and setting aside the revisional order passed by learned Commissioner under Section 263 of the Act and holding that the order passed by the learned Commissioner was beyond the period of limitation prescribed under Section 263 (2) of the Act, the revenue - appellant he....
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....63 of the Act. It is submitted that the High Court has erred in holding that the revision order dated 26.03.2012 passed by the Commissioner under Section 263 of the Act was barred by period of limitation provided under Section 263 (2) of the Act. 3.1 It is submitted that the High Court has materially erred in holding that the order passed under Section 263 is barred by limitation provided under Section 263 (2) on the ground that order under Section 263 was served on the assessee - respondent herein on 29.11.2012 which was after the expiry of two years from the end of the financial year in which the order was sought to be revised. 3.2 It is vehemently submitted by learned ASG that subsection (2) of Section 263 of the Act provides that no o....
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.... in the facts and circumstances of the case, the High Court and the learned ITAT are right in holding that the order passed by the learned Commissioner passed under Section 263 was barred by period of limitation provided under Section 263 (2) of the Act? Whether the High Court is right in holding that the relevant date for the purpose of considering the period of limitation under Section 263(2) of the IT Act would be the date on which the order passed under Section 263 by the learned Commissioner is received by the assessee? 4.2 While deciding the aforesaid issues and question of law, Section 263 (2) of the Income Tax Act, which is relevant for our consideration is required to be referred to, which reads as under: "(2) No order shall be ....
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....1.2012. However as observed hereinabove, the date on which the order under Section 263 has been received by the assessee is not relevant for the purpose of calculating/considering the period of limitation provided under Section 263 (2) of the Act. Therefore the High Court as such has misconstrued and has misinterpreted the provision of subsection (2) of Section 263 of the Act. If the interpretation made by the High Court and the learned ITAT is accepted in that case it will be violating the provision of Section 263 (2) of the Act and to add something which is not there in the section. As observed hereinabove, the word used is "made" and not the "receipt of the order". As per the cardinal principle of law the provision of the statue/act is t....