https://www.taxtmi.com/caselaws?id=239644 Proceedings giving effect to a revisionary order under section 263 were sought to be stayed, and the Tribunal examined whether such stay would also pause limitation under section 153. It accepted the Revenue's objection that the exclusion in Explanation 1 to section 153 did not extend to the period of stay granted by the Tribunal. The Tribunal also found no useful purpose in staying the consequential proceedings, as that would only delay the assessee's response to the Assessing Officer's requisition, while treating the request for early hearing of the appeal as appropriate. Stay of the proceedings was refused and the stay petition was dismissed. en-us Fri, 24 May 2013 00:00:00 +0530 Tue, 19 Nov 2013 06:19:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239644 Proceedings giving effect to a revisionary order under section 263 were sought to be stayed, and the Tribunal examined whether such stay would also pause limitation under section 153. It accepted the Revenue's objection that the exclusion in Explanation 1 to section 153 did not extend to the period of stay granted by the Tribunal. The Tribunal also found no useful purpose in staying the consequential proceedings, as that would only delay the assessee's response to the Assessing Officer's requisition, while treating the request for early hearing of the appeal as appropriate. Stay of the proceedings was refused and the stay petition was dismissed. Case-Laws Income Tax Fri, 24 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239644