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2015 (2) TMI 910 - HC - Income TaxProceeding under Section 201 - whether barred by time? - Held that:- Section 201 itself was amended, by introduction of Section 201(1) (A), significantly that amendment was given irrespective effect from 01.04.1966. The Parliament consciously did not amend Section 201 by inserting sub-section (3) with irrespective effect. ITAT correctly affirmed an order of the CIT (Appeals) to the effect that the treatment of the assessee’s company as one in default for the purpose of proceeding under Section 201 of the Income Tax Act, is barred by time. No substantial question of law arises - Decided against revenue.
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