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TMI Blog2019 (6) TMI 1101X X X X Extracts X X X X X X X X Extracts X X X X ..... her on the facts and circumstances of the case and in law, the Appellate Tribunal is right in dismissing the appeal of the Revenue without appreciating the fact that as per the amended provisions of Section 201(3) of the Act by the Finance Act, 2012 with retrospective effect from 01/04/2010 the limitation for passing order u/s.201(1) of the Act in the case of the assessee for the year A.Y. 201011 expires only 31/03/2016 i.e. within six years from the end of the financial year in which the loan of ₹ 2.07 crores was given to Shri Prakash Khatri, Chairman and Managing Director of the assessee company, who was holding 98.20% shareholding in company during the period under consideration, which was constituted as deemed dividend u/s. 2(22)( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aw, the Appellate Tribunal is right in dismissing the appeal of the Revenue without appreciating the fact that Section 201(3) of the Act was amended by the Finance Act, 2012 with retrospective effect from 01/04/2010 whereby the limitation wad substituted from four years to six years for passing the order u/s. 201/(1) of the Act where the TDS statement had not been filed. [ B] Whether on the facts and circumstances of the case and in law, the Appellate Tribunal is right in dismissing the appeal of the Revenue without appreciating the fact that as per the amended provisions of Section 201(3) of the Act by the Finance Act, 2012 with retrospective effect from 01/04/2010 the limitation for passing order u/s.201(1) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ;ble High Court in para NO.15(ii) of the order held that no order under Section 201(1) of the Act can be passed for which limitation had already expired prior to amended Section 201(3) as amended by the Finance Act NO.2 of 2014 whereas the assessment year involved in the case of the assessee is A.Y. 201011 and the assessee had not deducted the tax at source as required under the provisions of Section 194 of the Act and accordingly as per the amended provisions of Section 201(3) of the Act by the Finance Act, 2012 with retrospective effect from 01/04/2010, the limitation for passing under order u/s. 201(1) of the Act in this case expires only on 31/03/2016 whereas the order u/s. 201(1) / 201(1A) of the Act has been passed on 18/09/2015 i.e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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