Re-assessment proceedings were initiated against assessee on ground that assessee had received capitation fees or development fund in cash or kind which had not been disclosed in return, resulting in escapement of income. Re-assessment order was passed treating corpus donation received by assessee as general donation to trust and thereby re-computing exemption available under sections 11 and 12. \u00a0Commissioner passed revision order on 21-3-2024 against said re-assessment order dated 25-3-2022 on ground that Assessing Officer had not verified accumulation and application for year under consideration for purpose of object of trust for which amount was set apart. On appeal the Tribunal held that\u00a0 issue dealt by Commissioner in revision proceedings was altogether unrelated and different in character from issue dealt by Assessing Officer in re-assessment proceedings. The \u00a0issue raised by Commissioner to invoke revisionary proceedings had to necessarily relate to intimation passed under section 143(1). \u00a0On facts the revision order passed by Commissioner \u00a0is \u00a0beyond \u00a0period of\u00a0 two years\u00a0 hence the order is \u00a0barred by limitation \u00a0hence quashed. (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Accumulation of income-Corpus donation-Issue dealt in revision proceedings was unrelated in character from issue of corpus donation received by assessee which was dealt in re-assessment proceedings-Revision order was beyond period of two years-order is barred by limitation-Revision is quashed and set aside.[S. 11, 12A 143(1), 147, 148] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-55112","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ekU","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=55112"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55112\/revisions"}],"predecessor-version":[{"id":55113,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55112\/revisions\/55113"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}