https://www.taxtmi.com/caselaws?id=289843 The appeals by the assessee against the levy of interest under sections 201(1) and 201(1A) of the IT Act for multiple assessment years were successful. The Tribunal allowed the appeals for statistical purposes, quashing proceedings initiated after the prescribed limitation period. The issue on merits was remitted to the CIT(A) for further consideration. The Tribunal relied on the decision in the case of M/s Mahindra & Mahindra Ltd., establishing a 6-year limitation period for initiating proceedings in cases where income exceeded a certain threshold. en-us Tue, 04 Jan 2011 00:00:00 +0530 Wed, 26 Aug 2020 11:36:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289843 The appeals by the assessee against the levy of interest under sections 201(1) and 201(1A) of the IT Act for multiple assessment years were successful. The Tribunal allowed the appeals for statistical purposes, quashing proceedings initiated after the prescribed limitation period. The issue on merits was remitted to the CIT(A) for further consideration. The Tribunal relied on the decision in the case of M/s Mahindra & Mahindra Ltd., establishing a 6-year limitation period for initiating proceedings in cases where income exceeded a certain threshold. Case-Laws Income Tax Tue, 04 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289843