In Brief
The Commissioner of Income Tax challenged a High Court order that set aside his revision of an assessment on the ground that the revision order was barred by limitation. The assessee received the revision order in November 2012, which was beyond two years from the end of the financial year (31 March 2012), though the order was passed on 26 March 2012. The Supreme Court held that the date the order is 'made' by the Commissioner—not the date it is received by the assessee—determines the limitation period. Since the order was passed on 26 March 2012, well within the two-year deadline, it was not barred by limitation. The Court allowed the appeal, holding that the High Court misinterpreted Section 263(2) by treating receipt as relevant to limitation."
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