2013 (5) TMI 78

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....in appeal no. 559/Kol/2012 for the assessment 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 ....

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....tay of the operation of the order passed u/s. 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.....

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....y, the learned JCIT/Sr.DR has vehemently opposed 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....

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....ion of the Hon'ble Andhra Pradesh High Court in the 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 c....