ALTDEV. MISCOM ON ALT ASSIGNMENT BTWN TWR TRACON AND FLC. RPTR FLC CLAIMS THEY NEVER HEARD AN ALT RESTR OF 1500 FT; BUT TRACON CHKED WITH THE TWR WHO SAID THEY HAD GIVEN THE ALT RESTR TO THE FLC.

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OUR FLT WAS CLRED FOR TKOF FROM RWY 9 AND INSTRUCTED TO TURN TO HDG 360 DEGS AND CONTACT DEP. OUR PRE-TAXI CLRNC WAS TO CLB TO 16000 FT; WHICH IS NORMAL FOR OUR RTE. I CHKED ON WITH DEP AND RPTED LEAVING 1500 FT FOR 16000 FT. THIS XMISSION WAS BLOCKED. DEP CTL SOON CAME ON FREQ AND SAID 'FLT XX; DSND TO 1500 FT IMMEDIATELY! TFC 12 O'CLOCK LESS THAN A MI AT 2500 FT.' AT THIS TIME WE WERE CLBING THROUGH 2000 FT AND IMMEDIATELY BEGAN A DSCNT. WE THEN SAW THE TFC DIRECTLY AHEAD AND ABOUT 500 FT ABOVE. THE CTLR CAME BACK ON AND SAID WE WERE INSTRUCTED TO 'MAINTAIN 1500 FT FOR TFC.' WE INFORMED HIM THAT WE RECEIVED NO SUCH RESTR FROM THE TWR. HE SAID HE WAS CHKING WITH THE TWR. MOMENTS LATER HE CAME BACK TO US AND SAID THE TWR DID TELL US TO MAINTAIN 1500 FT. NEITHER MYSELF NOR MY CAPT COULD REMEMBER HEARING AN ALT RESTR; AND I CERTAINLY DID NOT READ BACK SUCH A RESTR TO THE TWR. AN ACCIDENT WAS PREVENTED BY QUICK REACTION FROM THE CTLR. THE ALT RESTR WAS NEVER COMMUNICATED TO OUR FLC. WHILE THE TWR MAY HAVE SAID THIS RESTR; I NEVER READ BACK SUCH INSTRUCTIONS. WE FEEL THAT IF SUCH A RESTR WAS IMPORTANT; AND THIS WAS DEFINITELY THE CASE; THE TWR SHOULD HAVE CONFIRMED THAT WE WERE AWARE OF THE RESTR WHEN WE FAILED TO READ IT BACK. RWY HOLD SHORT INSTRUCTION ARE MANDATORY TO READ BACK; I FEEL IT SHOULD BE MANDATORY TO READ BACK ALT RESTRS AND QUESTIONED BY CTLRS WHEN NOT READ BACK.