SUDHIR AGARWAL,J. - (1.) Heard Sri Pradeep Agarwal, learned counsel for appellant, and Sri Siddharth Dhaon, counsel for respondents.
(2.) This is Assessee's appeal under section 260A of Income Tax Act, 1961 (hereinafter referred to as "Act 1961") who is aggrieved by judgment and order dated 07.01.2014 passed by Income Tax Appellate Tribunal, Lucknow Bench, Lucknow (hereinafter referred to as "Tribunal") in Income Tax Appeal no. 702/LKW/2013 relating to Assessment Year 200304. Appellant has formulated nine substantial questions of law which basically relate to interpretation and consequence of expression "from the date of orders sought to be amended," under Section 154 (7) of Act 1961". The aforesaid questions excluding, question no. 5, read as under:" (i) Whether the consequential order passed by the assessing authority suomoto under section 154 of the Act to give effect to remand report sought by the CIT (A) for complying the directions issued in ITA No. 239/LUC/2007 decided by the ITAT on 13.6.2008 on 25.1.2011 will be deemed to the rectified order of the original assessment. (ii) Whether the learned Tribunal was justified in holding that the consequential order passed by the assessing officer cannot be called to be rectified order and the doctrine of merger would not apply. The original assessment would not be called to have been merged with the order of the assessing officer passed consequent to the directions of the Appellate Authorities. (iii) Whether the word "order" in the expression "from the date of orders sought to be amended" in Section 154 (7) of the Act means the original order or it could be any order including the amended order or rectified order. (iv) Whether the learned Tribunal was justified to hold that the Application under section 154 dated 18.5.2011 filed by the Appellant to claim the set off long term capital loss of Rs. 12,49,130/was barred by time since the original order of assessment was passed on 31.3.2006. (v) Whether the learned Tribunal misdirected himself in law by calculating limitation under section 154 (7) of the Income Tax Act, 1961 with reference only to the date of original order of assessment. (vi) Whether the learned Tribunal was justified to hold that the limitation can only start from the original assessment order for rectification and not from the date of rectified order dated 25.1.2011. (vii) Whether the learned Tribunal was justified in holding that the order passed at the direction of the CIT (Appeals) and the Tribunal that the order dated 25.1.2011 passed by the assessing officer cannot be said to have been merged in the original order. (viii) Whether the learned Tribunal was justified in recording perverse findings of fact as well as the interpretation of section 154 of the Income Tax Act without application of mind, which is against the legislative spirit of the Act."
(3.) We have excluded Question no. 5 since Tribunal has decided appeal on the ground of limitation and therefore, Question no. 5 does not arise from the judgment of Tribunal.;