https://www.taxtmi.com/caselaws?id=256948 The Court dismissed the Revenue's appeal, affirming the decision that the assessee's company was not in default under Section 201 of the Income Tax Act. It was held that the time limitation for initiating proceedings under Section 201 was four years, as per precedent, and not the extended seven years as argued by the Revenue. The Court emphasized that the subsequent amendments to Section 201 were not retrospective, maintaining the applicability of the four-year limitation period. Consequently, no substantial question of law arose, leading to the dismissal of the Revenue's appeal. en-us Wed, 11 Feb 2015 00:00:00 +0530 Tue, 24 Feb 2015 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256948 The Court dismissed the Revenue's appeal, affirming the decision that the assessee's company was not in default under Section 201 of the Income Tax Act. It was held that the time limitation for initiating proceedings under Section 201 was four years, as per precedent, and not the extended seven years as argued by the Revenue. The Court emphasized that the subsequent amendments to Section 201 were not retrospective, maintaining the applicability of the four-year limitation period. Consequently, no substantial question of law arose, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 11 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256948