- (1.) Heard Sri K.M. Sahai, Standing Counsel and Sri V.K. Agarwal appearing on behalf of the Respondent-Assessee (hereinafter referred as the 'Assessee').
(2.) By means of the present revision the order of the Tribunal dated 12.6.2003 for the assessment year 1990-91 has been challenged. The proceeding under Section 21 of the U.P. Trade Tax Act (called the 'Act' for short) has been initiated. The notice under Section 21 of the Act has been admittedly served within a period of eight years from the expiry of the financial year. There is no dispute in this regard. Learned Standing Counsel produced the record which shows that the notice has been served on 26.3.1999. The assessment order, however, has been passed on 30.9.1999 after expiry of eight years. The Tribunal has set aside the assessment order on the ground that it was passed beyond the period of eight years and, therefore, it was barred by limitation. Tribunal has held that under Section 21(2) of the Act the assessment order should have been passed within a period of eight years.
(3.) Learned Standing Counsel submitted that the Tribunal failed to look into Sub-section (3) of Section 21 of the Act which provides that if the notice is served within the period provided under Sub-section (2) of Section 21 of the Act the assessment order may be made within six months after expiration of such period. Therefore, the order passed on 30.9.1999 was within time. I find substance in the argument of learned Standing Counsel.;