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TMI Blog2019 (11) TMI 1195X X X X Extracts X X X X X X X X Extracts X X X X ..... ided the issue on the point of limitation we do not wish to elaborate on this aspect further. For the reasons given above we quash the order u/s 263 of the Act and allow the appeal of the assessee. - ITA No. 7 of 2019 - - - Dated:- 21-11-2019 - CHIEF JUSTICE THOTTATHIL B. RADHAKRISHNAN AND MD. NIZAMUDDIN JJ. For Appellant : Mr. S.N. Dutta, Advocate Mr. Asok Bhowmick, Advocate For Respondent : Mr. J.P. Khaitan, Sr. Advocate Mr. Indranil Nandi, Advocate The Court : Heard both sides. This appeal was admitted by this Court by an order dated 22nd January, 2019, on the following substantial questions of law :- 1. Whether on the facts and circumstances the deduction claimed by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . On 7th March, 2011 the Assessing Officer passed the order giving effect to the order of the CIT(Appeals) and on 23rd March, 2015 the Assessing Officer gave effect to the order of the Tribunal giving effect to the same on the issue of allowability of PWC Global Service Charges. On 10th April, 2018 the assessee filed an application under Section 154 of the Income Tax Act, 1961 for rectification of the order of the CIT(Appeals) on some issues and the Learned Tribunal upheld the order of the CIT(Appeals). Thereafter, the Assessing Officer passed an order under Section 154 of the Income Tax Act on 13th April, 2015. On 27th March, 2017 the CIT(Appeals) passed an order under Section 263 by setting aside the order dated 23rd March, 2015 passed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccountants Risk Policy. This was clearly beyond the scope of the order dated 23.03.2015. In other words, the action u/s 263 of the Act in so far as the premium paid was barred by limitation as laid down u/s 263(2) of the Act. We therefore quash the order u/s 263 of the Act on the ground of limitation. We may also add that even on merits we are of the view that the premium paid in question cannot be considered as one falling within the ambit of Explanation 1 to section 37 of the Act. Since we have decided the issue on the point of limitation we do not wish to elaborate on this aspect further. For the reasons given above we quash the order u/s 263 of the Act and allow the appeal of the assessee. Considering the submissions of the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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