SKYLINE BUILDERS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The above appeals raise questions with respect to the claim under section 80IB of the Income Tax Act, 1961 [for brevity, 'the Act] for the assessment years 2001-2002, 2003-2004, 2005- 2006 and 2006-2007. The Tribunal, affirmed the order passed by the Commissioner of Income Tax [CIT] under Sec. 263 of the Act, revising the assessment made, allowing the claim under Sec. 80IB of the Act. The CIT found that the essential conditions of the claim is not satisfied. The Tribunal affirmed the order of the CIT under Sec. 263 of the Act, against which questions of law are raised in all the assessment years.

(2.) In the assessment year 2001-2002, there is a question of limitation, which admittedly had not been raised before any of the authorities under the Act. The question of limitation being a mixed question of fact and law, it could be raised at the point of an appeal under Sec. 260A of the Act also; if the facts are clear and require no adjudication. The dates are not in dispute with respect to the orders passed, which alone would enable an adjudication on the question of limitation. We hence frame the following question of law in so far as the appeal for the year 2001-2002:

(3.) The period of limitation under Sec. 263(2) of the Act is expiry of two years from the end of the financial year, in which the order sought to be revised was passed. There is quite a bundle of facts, in so far as the orders passed for the subject year. Annexure-A dated 10.12.2003 is the first order of assessment passed under Sec. 143(3) of the Act. Therein, there was no consideration of the claim under Sec. 80IB of the Act. The claim made by the assessee under Sec. 80IB of the Act through a revised return filed on 12.11.2003 was not allowed. An appeal was filed before the CIT, in which the ground of rejection of the claim was taken. The CIT (Appeals) by Annexure-B directed consideration of the claim. The claim as made in the return was considered by Annexure-I order and an order passed, allowing deduction of Rs. 70,651.00 under Sec. 80IB of the Act.