2026 (3) TMI 283

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....r. Jitendra Singh with Ms. Shivali Mhatre and Mr. Rajesh Gaikwad, Advocates. ORDER PER, GAUTAM A. ANKHAD, J. 1. The present Appeal is filed against the order dated 12th March 2018 passed by the Income Tax Appellate Tribunal, Pune, whereby the Tribunal held that the proceedings initiated by the Assessing Officer under Section 201(1) of the Income Tax Act, 1961 for the first three quarters ....

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.... limitation prescribed under Section 201(3) had expired. In respect of the fourth quarter, since the TDS Return was filed on 15th June 2009, i.e. in the subsequent financial year, the limitation would have to be computed from the end of that financial year. The Tribunal accepted this contention and held that the proceedings for the first three quarters was held to be time-barred, while those relat....

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....s to be filed in the following financial year. Since the TDS Returns for the first three quarters were filed in financial year 2008-09, the order dated 15th March 2012 was beyond two years from the end of that financial year. However, the Return for the fourth quarter was filed on 15th June 2009, i.e. in financial year 2009-10 and the order dated 15th March 2012 was within two years from the end o....

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....n which the TDS statement is filed. The commencement of limitation is thus linked to the filing of the TDS Return. Since, under Rule 31A, TDS statements are mandatorily filed on a quarterly basis, the computation of limitation must necessarily operate quarter-wise. In the present case, the TDS Returns for the first three quarters were filed in financial year 2008-09. The order under Section 201(3)....