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TMI Blog2023 (7) TMI 1216X X X X Extracts X X X X X X X X Extracts X X X X ..... e scheme of the statute, where limitation is provided with respect to other actions by the Department. The various High Courts, as referred to above, deemed reasonable time to be four years, as is coming out from the various provisions of the Income Tax Act itself. True, the provision was amended bringing in a limitation of four years, in 2010 and then later extended to six years and seven years. Providing a specific period of limitation by the Union Parliament indicates, though it is not applicable to the subject assessment orders, the wisdom of the legislature. The presumable object behind that is not to leave the matter to the vagaries of the Department officials. It is also pertinent that at first the reasonable limitation period pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4.2017; which question is reframed by us, as follows:- Whether in the facts and circumstances of the case, the Income Tax Appellate Tribunal (hereinafter referred to as the Tribunal ) was justified in setting aside the order passed by the Assessing Officer finding it to be beyond four years; deeming that to be a reasonable time, when there was no limitation provided under Sections 201(1) and 201(1A) of the Income Tax Act, 1961 (hereinafter referred to as the Act ? 3. The subject assessment years are 2002-03 and 2003-04, from which the two appeals arise from a common order, on an identical issue, disposed off by us jointly. 4. The brief facts to be noticed are that the assessment orders, under Sections 201(1) and 201(1A) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer at the first instance itself. The Tribunal remanded the matter without considering the issue and leaving it open to be agitated by the party, if on remand again the Assessing Officer passed an order prejudicial to the assessee. We fully agree with the Tribunal on this issue and no question of law arises therefrom. 7. Insofar as the reasonable time, as held by the Hon ble Supreme Court, it is trite that when no period of limitation is prescribed by a statute, even then the Department cannot pass orders after the expiry of a reasonable period. It has also been held in various decisions that the reasonable period can be understood from the provisions of the subject statute, disclosing the scheme of the statute, where l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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