https://www.taxtmi.com/caselaws?id=411751 The Appellate Tribunal dismissed the Revenue's miscellaneous application under section 254(2) of the Income Tax Act, concerning the time limit for passing orders u/s.201, 201(1) & 201(1A). The Tribunal held that the order, issued almost six years after the relevant assessment year, was not passed within a reasonable time frame as required by legal principles and precedents from various High Courts and the Supreme Court. The decision underscored the significance of timely exercise of statutory powers, despite the absence of explicit time limits in the Act. en-us Thu, 26 Aug 2021 00:00:00 +0530 Thu, 02 Sep 2021 08:59:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411751 The Appellate Tribunal dismissed the Revenue's miscellaneous application under section 254(2) of the Income Tax Act, concerning the time limit for passing orders u/s.201, 201(1) & 201(1A). The Tribunal held that the order, issued almost six years after the relevant assessment year, was not passed within a reasonable time frame as required by legal principles and precedents from various High Courts and the Supreme Court. The decision underscored the significance of timely exercise of statutory powers, despite the absence of explicit time limits in the Act. Case-Laws Income Tax Thu, 26 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411751