Limitation u/s 263 of Ties to Original Assessment Order when Reassessment Order is Distinct and Different: Rajasthan HC [Read Order]

When the issues before the Commissioner under Section 263 are distinct from those in the reassessment, the limitation period is based on the original assessment order
By Navasree A.M - On August 27, 2024 3:44 pm - 2 mins read
Rajasthan HC - Rajasthan High Court - under Section 263 of the Income Tax Act - Income Tax Act - Income Tax - Reassessment Order - Assessment Order - High Court news - Income Tax News - taxscan

The Rajasthan High Court set aside the notice issued under Section 263 of the Income Tax Act, 1961 stating the limitation invoking revisionary powers relate back to original income tax assessment order when the reassessment order issued is distinct and different. Jainsons Agrochem Industries, the petitioner who filed an income tax return on September 24,…

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