https://www.taxtmi.com/caselaws?id=211019 The HC ruled in favor of the revenue, determining that the absence of a prescribed limitation period in Sections 201(1) and 201(1A) of the Income-tax Act, 1961, does not render the Assessing Officer's order invalid due to delay and laches. The Court emphasized that no statutory time limit should be implied where none is specified, aligning with the SC's stance in Hindustan Times Ltd. v. Union of India. The appeals were allowed, and the matter was remitted to the Tribunal for a fresh decision on merits, consistent with the law. en-us Thu, 14 Jul 2011 00:00:00 +0530 Wed, 01 Nov 2023 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211019 The HC ruled in favor of the revenue, determining that the absence of a prescribed limitation period in Sections 201(1) and 201(1A) of the Income-tax Act, 1961, does not render the Assessing Officer's order invalid due to delay and laches. The Court emphasized that no statutory time limit should be implied where none is specified, aligning with the SC's stance in Hindustan Times Ltd. v. Union of India. The appeals were allowed, and the matter was remitted to the Tribunal for a fresh decision on merits, consistent with the law. Case-Laws Income Tax Thu, 14 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211019