C.I.T vs. K.R.B.L. LTD

IN THE HIGH COURT OF DELHI AT NEW DELHI . 20.10.2008 . Present: Mr Sanjeev Sabharwal for the appellant. . + ITA No.1212/2008 . This appeal pertains to the assessment year 1998-99 and is directed against the order dated 29.2.2008 passed by the Income Tax Appellate Tribunal in ITA 3576/Del/2006. The Tribunal held that the proceedings initiated under Section 263 of the said Act by the Commissioner of Income Tax were without jurisdiction. The Tribunal has arrived at this conclusion as, in its opinion, two views were possible and the Assessing Officer had taken one of the possible views. This being the position, the provision of Section 263 could not be invoked, as rightly held by the Tribunal. No substantial question of law arises for our consideration. The appeal is dismissed. . BADAR DURREZ AHMED, J . RAJIV SHAKDHER, J October 20, 2008 mb . . 10 .