Passing of order u/s. 201(1) and 201(1A) beyond four year held as barred by limitation: Karnataka HC

Nilgiri Dairy Farm Private Limited Vs ITO (Karnataka High Court) Karnataka High Court held that passing of order under section 201(1) and 201(1A) of the Income Tax Act beyond period of four year is barred by limitation. Accordingly, impugned order set aside. Facts- The assessee company is engaged in the business of dairy products has made certain payments towards consultancy charges to a Singapore based company. Under letter dated 31.1.2014 appellant was asked to explain as to why payment made to the Singapore based company i.e., MJR Consultancy Pvt. Ltd., during the above stated financial yea...