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Bhura Exports Ltd.,, Kolkata vs Assessee on 4 November, 2009 cites

Mudit Refrigeration Industries (P) ... vs Assistant Commissioner Of Income Tax ... on 24 April, 2002

Interest leviable under section 201 (lA) is mandatory for non-deduction of tax at source, where it is required to deducted or where after deduction the deducted amount is not deposited with the Government. It does not admit of any discretion even where such omission or such shortfall in deduction or deposit arises for bona fide reasons. It was so held in Kanoi Industries P. Ltd. V. Asst.
Income Tax Appellate Tribunal - Allahabad Cites 18 - Cited by 24 - Full Document

The Asst. Commissioner Of Income-Tax vs Shri Hiromi Hirose, Japan Broadcasting ... on 31 August, 2006

Section 201 (1)/201(1 A) falls under chapter XVII of IT Act 1961. The limitation period for recovery was incorporated in section 231 of IT Act 1961 which was omitted by Finance Act 1987 with effect from 01-04-1989. In other words there is no limitation period for taking action u/s. 201/201(1A). In fact there is no limitation for taking action under section 201/201(1A) but certain judicial decisions are in favour of laying down time limit for initiating action u/s. 201/201(1A) and most of them have fixed time limit of four years viz. CIT Vs. NHK Corporation 305 ITR 137 Delhi, Mangalore Refinery and Petrochemical Ltd. Vs. Deputy Director of Income Tax 311 ITR (AT) 91 (Mumbai), Raymond Woolen Mills Ltd. Vs. ITO (1996) 57 lTD 536 (Bom) etc. The decision taken by Hon'ble ITAT and Hon'ble High Court is in favour of passing the order within four years as notime0 limit has been prescribed in the statute On careful reading of the above decisions, it is a clear that none.of the decisions has taken into account the quantum of escapement of income or tax. The same parameter cannot be laid down for escapement of tax of Rs.10000/- and Rs.10,00,000/-. The Income Tax Act has distinguished the time limit for initiating action with reference to quantum of income escaped. Sec. 148/149 prescribed the time limit of four years where income has escaped assessment amounting to Rupees less them 100000/-, where as the time limit will be six 5 years where escapement of income is Rs. 1,00,000/- or more. In the present case the tax and interest u/s. 201/201(1A) is Rs. 21,64,472/-. The time limit for initiating action for this amount of tax should be maximum period available in statue. Income Tax Act permits reopening of assessment for 6 years. In present case the order is passed with in 5 years. In my view this is reasonable.
Income Tax Appellate Tribunal - Delhi Cites 13 - Cited by 68 - Full Document

Mangalore Refinery And Petrochemicals ... vs Dy. Director Of Income-Tax (It) on 17 January, 2007

Section 201 (1)/201(1 A) falls under chapter XVII of IT Act 1961. The limitation period for recovery was incorporated in section 231 of IT Act 1961 which was omitted by Finance Act 1987 with effect from 01-04-1989. In other words there is no limitation period for taking action u/s. 201/201(1A). In fact there is no limitation for taking action under section 201/201(1A) but certain judicial decisions are in favour of laying down time limit for initiating action u/s. 201/201(1A) and most of them have fixed time limit of four years viz. CIT Vs. NHK Corporation 305 ITR 137 Delhi, Mangalore Refinery and Petrochemical Ltd. Vs. Deputy Director of Income Tax 311 ITR (AT) 91 (Mumbai), Raymond Woolen Mills Ltd. Vs. ITO (1996) 57 lTD 536 (Bom) etc. The decision taken by Hon'ble ITAT and Hon'ble High Court is in favour of passing the order within four years as notime0 limit has been prescribed in the statute On careful reading of the above decisions, it is a clear that none.of the decisions has taken into account the quantum of escapement of income or tax. The same parameter cannot be laid down for escapement of tax of Rs.10000/- and Rs.10,00,000/-. The Income Tax Act has distinguished the time limit for initiating action with reference to quantum of income escaped. Sec. 148/149 prescribed the time limit of four years where income has escaped assessment amounting to Rupees less them 100000/-, where as the time limit will be six 5 years where escapement of income is Rs. 1,00,000/- or more. In the present case the tax and interest u/s. 201/201(1A) is Rs. 21,64,472/-. The time limit for initiating action for this amount of tax should be maximum period available in statue. Income Tax Act permits reopening of assessment for 6 years. In present case the order is passed with in 5 years. In my view this is reasonable.
Income Tax Appellate Tribunal - Mumbai Cites 39 - Cited by 2 - Full Document

Raymond Woollen Mills Ltd. vs Income-Tax Officer And Ors. on 17 December, 1997

Section 201 (1)/201(1 A) falls under chapter XVII of IT Act 1961. The limitation period for recovery was incorporated in section 231 of IT Act 1961 which was omitted by Finance Act 1987 with effect from 01-04-1989. In other words there is no limitation period for taking action u/s. 201/201(1A). In fact there is no limitation for taking action under section 201/201(1A) but certain judicial decisions are in favour of laying down time limit for initiating action u/s. 201/201(1A) and most of them have fixed time limit of four years viz. CIT Vs. NHK Corporation 305 ITR 137 Delhi, Mangalore Refinery and Petrochemical Ltd. Vs. Deputy Director of Income Tax 311 ITR (AT) 91 (Mumbai), Raymond Woolen Mills Ltd. Vs. ITO (1996) 57 lTD 536 (Bom) etc. The decision taken by Hon'ble ITAT and Hon'ble High Court is in favour of passing the order within four years as notime0 limit has been prescribed in the statute On careful reading of the above decisions, it is a clear that none.of the decisions has taken into account the quantum of escapement of income or tax. The same parameter cannot be laid down for escapement of tax of Rs.10000/- and Rs.10,00,000/-. The Income Tax Act has distinguished the time limit for initiating action with reference to quantum of income escaped. Sec. 148/149 prescribed the time limit of four years where income has escaped assessment amounting to Rupees less them 100000/-, where as the time limit will be six 5 years where escapement of income is Rs. 1,00,000/- or more. In the present case the tax and interest u/s. 201/201(1A) is Rs. 21,64,472/-. The time limit for initiating action for this amount of tax should be maximum period available in statue. Income Tax Act permits reopening of assessment for 6 years. In present case the order is passed with in 5 years. In my view this is reasonable.
Supreme Court of India Cites 0 - Cited by 717 - Full Document
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