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2012 (5) TMI 88 - HC - Income TaxITAT held that Order u/s 201(1) & 201(IA) passed by the A.O. beyond four years was time barred – Held that:- Not to disturb the time limit of four years prescribed by the Tribunal and in view of terms of the decision in STATE OF PUNJAB Versus BHATINDA DISTRICT CO-OP. MILK P. UNION LTD. [2007 -TMI - 48068 - SUPREME COURT OF INDIA] action must be initiated by the competent authority under the Income-tax Act, where no limitation is prescribed as in section 201 of the Act within that period of four years - action of the Revenue cannot be said to be within the period of limitation prescribed under the Act – against revenue.
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