2017 (8) TMI 1684

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..... limitation which can be applied in respect of proceedings under Section 201(1)/201(1A)? - HELD THAT:- As decided in Mass Awash Private Limited [ 2017 (7) TMI 664 - ALLAHABAD HIGH COURT ] In State of Orissa Versus Debaki Debi [ 1963 (10) TMI 17 - SUPREME COURT ], S. B. Gurbaksh Singh Versus Union of India [ 1976 (1) TMI 153 - SUPREME COURT ] and CST Versus Halari Store [ 1997 (9) TMI 516 - SUPREME .....

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..... 201(1A) of Act, 1961, in the case in hand, can it be said to be an exercise of power with unreasonable delay so as to invalidate such exercise of power. In the light of aforesaid we answer the question in favour of Revenue and against Assessee.
Hon'ble Sudhir Agarwal And Hon'ble Ravindra Nath MishraII JJ. For the Appellant : Alok Mathur For the Respondent : Namit Sharma ORDER 1. Hea .....

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..... ction u/s 201(1) of the Income Tax Act, 1961 is time barred despite subsection (3) of Section 201 expressly not providing for such time barring dale for charging of interest u/s 201(1A) of the Act." 4. The aforesaid question has already been considered by this Court in its judgment dated 10.07.2017 passed in Writ Petition (MB) No. 1088 of 2016 (M/s Mass Awash Private Limited Vs Commissioner .....

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..... , Court said, what a reasonable period in such case would depend on the facts and circumstances of each case. In State of Punjab and others Versus Bhatinda District Cooperative Milk Producers Union Limited (supra), Court said that what a reasonable period would be, it will depend on the nature of statute, rights and liabilities thereunder and other relevant factors. In State of Orissa Versus Debak .....

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..... in exercise of power under Section 201 and 201(1A) of Act, 1961, in the case in hand, can it be said to be an exercise of power with unreasonable delay so as to invalidate such exercise of power." 6. In the light of aforesaid we answer the question in favour of Revenue and against Assessee. Judgment of Tribunal to this extent is hereby set aside and only on this aspect matter is remanded to .....

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