Time limit of six years is reasonable for passing order u/s. 201 of Income Tax Act

Vedanta Limited Vs DCIT (Madras High Court) Madras High Court held that time limit of six years is reasonable time for passing of order under section 201 of the Income Tax Act in respect of non-residents. Accordingly, order impugning assessment years beyond six years is set aside. Facts- The appellant company is engaged in the business of mining and exploration of metals and oil and natural gas. During the relevant financial years, the appellant entered into a Consultancy Agreement and Representative Office Agreement with Vedanta Resources Public Limited Company (VRPLC) which is a non-resident...