Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (11) TMI 650 - AT - Income TaxOrder u/s 201(1) and 201(1A) - barred by limitation - order passed within reasonable time - Held that:- Statutory powers should be exercised within a reasonable time even if no time limit is prescribed. Finality of the issue is the underlying principle embedded and is the core of every action under the law. If the legislature is silent in prescribing a particular time limit, then the action can only be taken within a reasonable time Assessing Officer passed the orders after expiry of eight years from the date of issuance of notice, therefore, the order passed by the are barred by limitation. Consequently, we set aside the orders passed by the Ld. Commissioner of Income Tax (Appeal) as the orders passed by the Assessing Officer are barred by limitation. All these appeals of the assessee, are, therefore, allowed.
|