2020 (12) TMI 1381

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..... of fresh assessment in pursuance of an order u/s.263 of the Act, setting aside or cancelling an assessment, may be made at any time before the expiry of nine months from the end of the financial year in which the order u/s.263 of the Act is passed by the Commissioner. Therefore, the order giving effect to that order passed by the AO dated 26.02.2016 is clearly beyond the time limit allowed u/s .....

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..... Chennai-9 by an order u/s.263 of the Act in C.No.12/263(ET)/CIT-9/14-15 dated 19.12.2014, inter alia, set aside with certain directions to the AO to pass order as per law. The AO gave effect to the order u/s.263 of the Act, by an order dated 26.02.2016 determining the income at Rs.2,37,76,280/-. On appeal, the ld.CIT(A) dismissed the appeal in ITA No.75/CIT(A)- 5/2016-17 dated 27.09.2018. Aggriev .....

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..... h the order u/s.263 of the Act is passed by the Commissioner. Therefore, the order giving effect to that order passed by the AO dated 26.02.2016 is clearly beyond the time limit allowed u/s.153(3) of the Act and hence the ld.AR s plea is sustained. The order of the AO dated 26.02.2016 is quashed. 5. In the result, the assessee s appeal is allowed. Order pronounced on 23 rd December, 2020 at .....

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