Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
TDS under s. 194C is attracted at the earlier of credit or payment. Since the liability for external development charges arose on credit in AY 2012-13, any default under s. 201(1) and interest under s. 201(1A) could be fastened only for AY 2012-13; the assessee could not be treated as an assessee-in-default for AY 2014-15 for the same amounts. Further, applying s. 201(3), the limitation ran from the relevant credit event, and the last date to pass an order was 31-03-2019; the order dated 25-03-2021 was time-barred and was set aside. - ITAT
TDS under s. 194C is attracted at the earlier of credit or payment. Since the liability for external development charges arose on credit in AY 2012-13, any default under s. 201(1) and interest under s. 201(1A) could be fastened only for AY 2012-13; the assessee could not be treated as an assessee-in-default for AY 2014-15 for the same amounts. Further, applying s. 201(3), the limitation ran from the relevant credit event, and the last date to pass an order was 31-03-2019; the order dated 25-03-2021 was time-barred and was set aside. - ITAT
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