The Commissioner Of Income Tax-3,Mumbai v. Icici Bank Ltd

srk IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.6533 OF 2010 The Commissioner of Income Tax-3,Mumbai ...Appellant Versus ICICI Bank Ltd. ..Respondent Mr.Vimal Gupta for appellant. Ms.Aarti Vissanji with Mr.S.J.Mehta for respondent. CORAM : DR.D.Y.CHANDRACHUD &M.S. SANKLECHA, JJ. 8 February 2012. P.C.: Admit on the following substantial question of law: Whether on the facts and in the circumstances of the case and in law the Hon ble Tribunal’was right in holding that the Order of the CIT dated 28.03.2003 passed under Section 263 of the Income Tax Act setting aside the Assessment Order dated 26.03.2002 passed under Section 143 read with Section 147 of the Income Tax Act by the Assessing Officer is barred by limitation under Section 263(2) of the Income Tax Act? 2.Counsel appearing on behalf of the revenue and the counsel appearing on behalf of the assessee state that this appeal would be governed by the judgment rendered today in companion Appeal No.6375 of 2010. 3.For the reasons already indicated by this Court in its decision in companion appeal today, the question of law shall stand answered in favour of the assessee and against the revenue. 4.The Appeal is accordingly disposed of. There shall be no order as to costs. (Dr. D.Y. Chandrachud, J.) (M.S. Sanklecha, J.)