Date of Intimation u/s. 143(1) Determines Limitation Period: Reassessment vs. Revision Issues

Anushree Maheshwari Vs PCIT-1 (ITAT Surat) Date of intimation u/s. 143(1) to be considered for limitation period as reassessment and revisionary proceedings issue are different ITAT Surat held that since issue of re-assessment proceedings and issue of revisionary proceedings are different, period of two years would start from the date of intimation u/s. 143(1). Thus, since revisionary proceedings initiated beyond two years bracket the same is liable to be set aside. Facts- Post completion of assessment, information was received from DDIT(Inv.) Unit-5(2), Mumbai that the share of Gemstone Inves...