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Reasonable time limit for issue of notice u/s 201(1)/201(1A) is 4 years
Case Law Details
- Case Name
- Adabala Manmohan Vs ITO (ITAT Visakhapatnam)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Visakhapatnam
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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. ...
