TaxTMI 
TaxTMI 
2018 (10) TMI 2076
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....its grievance is that the ld. CIT(A) has erred in confirming additions of Rs. 66,77,879/- and Rs. 1,55,800/- without considering proviso to section 12AA(2) incorporated by the Finance Act (No. 2) Act, 2014 w.e.f. 1-10-2014 in the Asstt. Year 2009-10 and 2010-11 respectively 3. With the assistance of the ld. representatives, we have gone through the record carefully. Assessee-trust has filed its return of income for both the assessment years on 6.7.2010 declaring NIL income. The cases of the assessee in both the years were selected for scrutiny assessment and assessment orders were passed under section 143(2) on 28.11.2011. The ld.AO has determined taxable income of the assessee at 14,67,850/- and Rs. 14,17,273/- in the Asstt. Years 2009-....
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....d. Commissioner was of the view that this deduction was not admissible to the assessee. After hearing the assessee, he passed orders under section 263 in both the years on 24.3.2014. He set aside assessments on this issue and directed the AO to enhance the income of the assessee by these amounts. The conclusion drawn by the ld. CIT under section 263 in the last paragraph of the order reads as under: "4.2 However, assessee could not explain the claim of deduction of Rs. 1,33,983/- as TDS on stall rent and Rs. 21,817/- as TDS from its income. Therefore, the assessment order passed under section 143(3) on 28.11.2011 for Assessment Year 2009-10 is erroneous and prejudicial to the interest of Revenue. By the powers vested in CIT-I, Rajk....
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....cted the AO to enhance the income, hence giving effect to this order is not maintainable before the ld. CIT(A) in the present proceedings. Accordingly, the ld. First Appellate Authority dismissed both the assessee. At this stage, it is pertinent to take note of section 263, which reads as under: "263(1) The Commissioner may call for and examine the record of any proceeding under this Act, and if he considers that any order passed therein by the Assessing Officer is erroneous in so far as it is prejudicial to the interest of the revenue, he may, after giving the assessee an opportunity of being heard and after making or causing to be made such inquiry as he deems necessary, pass such order thereon as the circumstances of the case ju....
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.... order shall be made under sub-section (1) after the expiry of two years from the end of the financial year in which the order sought to be revised was passed. (3) Notwithstanding anything contained in sub-section (2), an order in revision under this section may be passed at any time in the case of an order which has been passed in consequence of, or to give effect to, any finding or direction contained in an order of the Appellate Tribunal, National Tax Tribunal, the High Court or the Supreme Court. Explanation.- In computing the period of limitation for the purposes of sub-section (2), the time taken in giving an opportunity to the assessee to be reheard under the proviso to section 129 and any period during which any pr....