COMMISSIONER OF INCOME TAX Vs. VINDHYA TALALINKS LTD

JUDGEMENT

(1.) This appeal is directed against an order dt.31.5.1999 passed by the Income Tax Appellate Tribunal, Jabalpur Bench, Jabalpur in Case No. ITA/132/Jab/1998, by which an appeal preferred by the respondent, against an order dt.25.3.1998 by the CIT, Jabalpur u/s 263 of the Income Tax Act 1961, was allowed and the order of Commissioner of Income Tax was set aside.

(2.) This appeal was admitted on 22.10.2001 on the following substantial question of law:

(3.) Learned counsel for the appellant submitted that the Tribunal erred in setting aside the order passed by the CIT, Jabalpur merely on the ground that the order passed u/s 263 was barred by limitation. The limitation shall commence from the date of order passed by the assessing officer in compliance of the order passed by the appellate authority and the order of CIT was well within the time. Reliance is placed to a judgment of Apex Court in Hind Wire Industries Ltd. Vs. Commissioner of Income Tax, 1995 212 ITR 639(SC) and also to a Division Bench of Karnataka High Court in Commissioner of Income Tax vs. Mysore Iron & Steel Ltd.,1996 159 ITR 57(KR).