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2021 (4) TMI 1173 - HC - Income TaxDefault u/s 201(1) and 201(1A) - Petitioners submits that impugned order is misconceived, untenable and grossly delayed and is barred by limitation - HELD THAT:- As respondents submits that insofar as GIA US is concerned, while the tribunal had held that GIA US has no permanent establishment in India and the Revenue has preferred an appeal in these writs and the same is pending. With regard to the submission on behalf of the Petitioners about limitation, he submits that the limitation for passing order under Section 201 is governed by Section 201(3) therefore, submits that the notice dated 08.03.2021 is within the prescribed period of limitation of seven years as above. As submitted on behalf of the petitioners that the Respondents have not been able to show, as to how this provision would hold the present facts and circumstances when reference herein is to payment to non-residents and not to residents as contemplated in the said sub-section. In view of aforesaid, prima facie, there appears to be some substance in the Petitioners’ submissions. Hence, rule. Rule is made returnable early. Put up the matters for hearing in the 2nd week of July, 2021. In the meanwhile, there shall be no coercive action pursuant to impugned order/notices.
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