TMI Blog2017 (7) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... (International Taxation) [2017 (7) TMI 664 - ALLAHABAD HIGH COURT]. We find that both the substantial questions of law formulated above have to be answered in favour of Revenue and against Assessee. However, delay occurred in passing order under Section 201(1) and 201(1A) of Act, 1961, whether justified or not is a question of fact which has to be examined independently on the basis of facts of each individual case.In the present case, this aspect has not been looked into by Tribunal in the light of judgment bove, we, therefore, remand the matter to Tribunal and direct that it shall consider this aspect - Income Tax Appeal No. 73 of 2005 - - - Dated:- 10-7-2017 - Hon'ble Sudhir Agarwal And Hon'ble Ravindra Nath Mishra-II, JJ. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acts in brief are that M/s Indo Gulf Corporation Limited i.e. the respondent, (herein after referred to as Assessee-IGCL) brought out Euro Dollar issue of GDR (Global Depository Receipt) for US Dollar of 100 Million. Assessee-IGCL employed some non-resident Lead Managers for assisting it in all aspects of consultancy for preparing documents connected with bringing out the issue, dealing with various regulatory authorities in India and abroad, Due Diligence Certificate, arranging road shows and all other connected matters inclusive of managing and under-writing the issue. It was liable to deduct TDS under Section 195 on the payment made to lead Manager and its associates, but no such deduction was made and hence, no TDS was deposited in Gov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal has decided the Appeal vide judgment dated 06.07.2004 only on the ground that default in non-deduction of TDS relates to A.Y. 1994-95 while ultimate order of demand was passed in March 2002. Therefore, it is barred by limitation of four year in the light of judgment in Sahara Airlines Limited Vs. Deputy Commissioner of Income Tax 2002 (83) ITD 11. (Tribunal Allahabad). 5. The question, whether any specific period of limitation like a statutory period can be applied in such a case when no time limit has been provided by legislature in a particular statute, has been considered by this Court in detail in Writ Petition No. 1088 (M/B) of 2016: M/s Mass Awash Private Limited Vs. Commissioner of Income Tax (International Taxation) and anot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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