Limitation Period u/s 263(2) of Income Tax Act begins from date of Original Assessment Order not from Reassessment Order: ITAT quashes Revision Order

By Aparna. M - On May 10, 2023 2:00 pm - 3 mins read

Limitation Period - Income Tax Act - Original Assessment Order - Assessment Order - Reassessment Order - ITAT - Revision Order - ITAT quashes Revision Order - Taxscan

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the limitation period under section 263(2) of Income Tax Act, 1961 begins from the date of original assessment order not from reassessment order. Hence, the bench quashed the revision order passed by the PCIT. Assessee Bonjour Estates (P) Ltd. filed the above…

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