TaxTMI 
TaxTMI 
2013 (5) TMI 78
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....ment year. 2007-08, which is against the order passed u/s. 263 by the learned Commissioner of Income-tax. Kolkata-III, Kolkata. 2. Shri D.S. Damle, FCA, learned AR represented on behalf of the assessee and Shri R. K.Saha, learned JCIT/Sr.DR represented on behalf of the revenue. 3. It was the submission by the learned AR of the assessee that the order giving effect to the order passed u/s. 263 of....
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.... 263, which is a subject matter of the appeal before the tribunal. He placed reliance on the decision of the Hon'ble Delhi High Court in W.P (C ) No. 4684/2010 dated 3rd August 2012 in the case of CIT (Central)-II vs. ITAT & Ors, wherein the Hon'ble Delhi High Court had held that the tribunal had the powers to stay the operation of the order passed u/s. 263 so as to prevent the multiplicity of pro....
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....d the stay petition filed by the assessee. It was the submission that the limitation to give effect to the order of the learned CIT passed u/s. 263 of the Act expires on 31-3-2013. It was the submission that by granting the stay to the assessee the proceedings would become infructuous in so far as the tribunal, being not a court, in the event that the order passed u/s. 263, which is the subject ma....
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....he case of Khalid Mehdi Khan (refer to supra) clearly shows that the Hon'ble A.P High Court has categorically held that while granting the stay or any other inter-locutary order, the tribunal shall have to be keep in mind the period of limitation prescribed u/s. 153(2A) and pass order in light of the same. Admittedly, the limitation in the present case expires on 31-3-03. The appeal of the assesse....