Four Years Is Reasonable Time of Limitation in Absence limitation provided in Statute for an order u/s 201 of Income Tax Act: Patna HC Dismisses Appeal Against Indian Oil Corporation

By Yogitha S. Yogesh - On July 26, 2023 5:00 pm - 2 mins read

Limitation in Absence limitation provided in Statute - Income Tax Act - Absence limitation - Patna HC Dismisses Appeal Against Indian Oil Corporation - taxscan

The Patna High Court while dismissing the appeal against Indian Oil Corporation Ltd, has held that four years is a reasonable time of limitation in the absence of limitation provided in statute for an order under section 201 of the Income Tax Act, 1961. The Revenue challenged the impugned orders of the Tribunal in favour…

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