2015 (2) TMI 948

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.... 1. The Revenue is aggrieved by the order of the Income Tax Appellate Tribunal (ITAT) dated 25.11.2011, inasmuch as the ITAT affirmed an order of the CIT (Appeals) to the effect that the treatment of the assessee's company as one in default for the purpose of proceeding under Section 201 of the Income Tax Act(hereinafter referred to as "the Act"), is barred by time. 2. The relevant facts are....

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....HK Japan (supra) the Court had said that even though no specific period of limitation was prescribed for an action under Section 201 of the Act, the income tax authorities have to initiate proceedings within reasonable time and it was determined to be four years. 3. Learned counsel for the Revenue urges that the subsequent developments after NHK Japan (supra) have modified its ratio. He relies ....

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....Commissioner of Income Tax (TDS)-I vs. C.J.International Hotels Pvt. Ltd. in ITA No.57/2015, decided on 09.02.2015, has discussed elaborately two reasons for the Court to reject the submissions; (i) Section 201 itself was amended by introduction of Section 201(1A) of the Act; significantly that amendment was given retrospective effect from 01.04.1966; (ii) The Parliament consciously did n....