Patna HC: 4 Years Reasonable Limitation for Order u/s 201 of Income Tax Act

ITO Vs Indian Oil Corporation Ltd (Patna High Court)

Introduction: The Patna High Court recently dismissed an appeal filed by the Income Tax Department against Indian Oil Corporation Ltd (IOCL). The appeal pertained to the limitation period for an order under Section 201 of the Income Tax Act. The court examined whether a reasonable time limit should apply in the absence of a specific statutory limitation.

Analysis: The court found that the assessment orde

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