nikhil.r.gondhalekar (articled assistant) (64 Points)
01 March 2010In A.Y 85-86 to 90-91 Exp 'X' was allowed.order made on 23.01.92 also allowed exp 'X'.CIT revised order on 23.12.93 to disallow it.Matter went on to SC which disallowed 'X' on 1.1.2009.
So, what does Sec 148,149,150(1),150(2),263,153 Exp2 have to say about '4/6 A.Y's to be considered ' TO GIVE EFFECT TO THE DIRECTION OF ORDER"?? (which are the 6 A.Y assuming 153 exp2 applies)
Please advise.
Amir
(Learner)
(4016 Points)
Replied 01 March 2010
Dear Nikhil,
Sec 153 (specially Explanation to Sec 153) is such a deadly weapon in the hands of Department from which all tax evaders are scared of.
If AO wants then he can go & make additions in ALL those years in which assessee has claimed Expense "X"
No limit.
nikhil.r.gondhalekar
(articled assistant)
(64 Points)
Replied 01 March 2010
Ok.
But Sec 150(2) has diluted the scope Exp.2 so which years are scoped out of above example??? since it has been made "subject matter of revision or appeal" as per s.150(2)
CAclubindia
