Reasonable time limit for issue of notice u/s 201(1)/201(1A) is 4 years

Adabala Manmohan Vs ITO (ITAT Visakhapatnam) Reasonable time limit for issue of notice u/s 201(1)/201(1A) is 4 years In this case the admitted facts are that the assessee has purchased a property during the FY 2010-11 relevant to the AY 2011-12 on 7/3/2011. The assessee has paid a sum of Rs. 54,22,000/- out of which Rs. 50,39,500/- was paid to the NRI. As per the provisions of section 195 of the Act, the assessee is required to deduct tax at source on payments made to non-residents. In the instant case, the assessee required to deduct the tax at source on the sums chargeable to capital gains. ...