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TMI Blog2020 (4) TMI 810X X X X Extracts X X X X X X X X Extracts X X X X ..... to Section 150 will apply only when the limitation had already expired by the time before the assessment order for the Assessment Year 2006-07 was made. If not, there is a saving of limitation u/s 150(1) - It is for this reason, the Income Tax Appellate Tribunal [ 2015 (8) TMI 1500 - ITAT CHENNAI] held that such recomputation will be subject to limitation. No merits in the present Writ Petitions. The petitioner is directed to participate in the proceedings before the respondent. Since the dispute pertains to the AY 2003-04 to 2005-06, the petitioner is directed to file objections/ representations, if any, within a period of thirty days from the date of receipt of a copy of this order. X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal. 6. The Income Tax Appellate Tribunal by its order dated 24.08.2015 upheld the aforesaid order of the Commissioner of Income Tax (Appeals). 7. The Income Tax Appellate Tribunal while upholding the order of the Commissioner of Income Tax (Appeals) however held that the order directing the computation of deduction under Section 10B will be subject to limitations provided under the Income Tax Act, 1961. 8. It is the contention of the petitioner that the order dated 31.08.2012 of the Commissioner of Income Tax (Appeals) had merged with the order dated 24.08.2015 of the Income Tax Appellate Tribunal and therefore it was not open for the respondent to invoke Section 148 in the light of Section 150(2) of the Income Tax Act, 1961. 9. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Likewise, the last date for reopening the assessment for the purpose of 1st proviso to Section 147 of the Income Tax Act, 1961 expired on 31st March, 2010, 2011 and 2012 respectively and therefore invocation of Section 148 was barred under Section 154(2) of the Income Tax Act, 1961. 12. Per contra, the learned counsel for the respondent would submit that the limitation is protected under Section 153 of the Income Tax Act, 1961 to reopen the assessment under Section 148 to give effect to the order of the Tribunal and that of the Commissioner of Income Tax (Appeals). 13. It is submitted that in any event, it is open for the petitioner to make the submissions before the respondent Assessing Officer and if the petitioner has a valid case, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1961, a notice under Section 148 of the Income Tax Act, 1961, can be issued notwithstanding anything contained in Section 149 of the Act for the purpose of making an assessment or re-assessment or recomputation in consequence of or to give effect to any finding or direction contained in an order passed by any authority in any proceeding under the Act by way of appeal, reference or revision or by a court in any proceeding under any other law. 19. Sub-Section 1 of Section 150 of the Income Tax Act, 1961 will not apply only where any assessment, re-assessment or recomputation in respect of which the assessment, re-assessment or recomputation could not have been made at the time the order which was the subject matter of appeal, reference o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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