TaxTMI 
TaxTMI 
2021 (12) TMI 453
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.... record and the arguments, are that the assessee is a private limited company engaged in the business of power generation and the whole electricity generated by the assessee has been supplied to the Himachal Pradesh State Electricity Board only. For assessment year 2010-11, the assessee declared an income of Rs. 1,44,79,210/-and paid the tax to the tune of Rs. 1,20,47,338/-under the provisions of section 115 JB of the Income Tax Act, 1961 (for short "the Act"). 3. During the year, the assessee reimbursed operation and maintenance charges to the tune of Rs. 16,60,601/- to Himachal Pradesh Electricity Board on actual basis, there was no element of profit involved in the above-mentioned charges/bills, and since according to the assessee, it i....
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....1) &201(1A) of the Act was barred by limitation in view of amendments made by successive Finance Acts. Ld. AR placed reliance on the amendments made to section 201 (3) of the Act by finance Act, 2009, finance Act, 2012 and finance Act 2014 and also the decision of the Hon'ble Gujarat High Court in the case of Tata Tele Services vs. Union of India (2016) 385 ITR 497 followed by the coordinate benches of the Tribunal in the cases of HCL technologies Ltd vs. ACIT 2020 (7) TMI 643-ITAT-Delhi and M/s Dish TV India Ltd vs. DCIT 2021 (1) TMI 681-ITAT-Delhi. 6. Ld. DR placed reliance on the orders of the authorities below and submitted that in view of the provisions of 201(1) of the Act (3) as amended by the finance Act, 2014 the impugned order pa....
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....by the limitation was substituted from four years to six years for passing the order where the TDS statement had not been filed is as under: " (6) in sub-section (3), in clause (ii), for the words "four years", the words "six years" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2010;" Subsequently Section 201(3) of the Act was again amended on 01/10/2014 by Finance (No. 2) Act, 2014 w.e.f. 01/10/2014 wherein Section 201 (3)(i) was omitted and accordingly, the distinction between cases where statement has been filed and such statements was not filed was removed and the amendment prescribed a common period of limitation i.e. seven years from the end of financial year in which payme....
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....Court in the case of Tata Teleservices Versus Union Of India [2016] 385 ITR 497 wherein Hon'ble Court has held that: "15.00. Considering the law laid down by the Hon'ble Supreme Court in the aforesaid decisions, to the facts of the case on hand and more particularly considering the fact that while amending section 201 by Finance Act, 2014, it has been specifically mentioned that the same shall be applicable w.e.f. 1/10/2014 and even considering the fact that proceedings for F. Y. 2007-08 and 2008-09 had become time barred and/or for the aforesaid financial years, limitation under section 201(3)(i) of the Act had already expired on 31/3/2011 and 31/3/2012, respectively, much prior to the amendment in section 201 as amended by Finance A....