The Karnataka High Court held that the Income Tax Order passed in the present case was beyond the reasonable period or limitation period of 4 years
The Karnataka High Court, in a recent ruling, set aside the order passed under Sections 201(1) and 201(1A) of the Income Tax Act, 1961, as being beyond the reasonable period of 4 years. In this case, the assessee, Nilgiri Diary Farm, is engaged in the dairy product business. Certain payments were made by the assessee…
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