Relief to MPhasis Ltd: Reasonable Time Limit u/s 201 of Income Tax Act applicable to Non-Residents, rules Karnataka HC [Read Order]
The Court recognized the eligibility of the Assessee to be recognized in the scope of Section 201 of the Income Tax Act in light of lack of legislation passed by the Parliament
The Karnataka High Court ruled in a recent Income Tax Appeal before it, that limitation on the basis of ‘Reasonable Time Limit’ under Section 201 of the Income Tax Act, 1961 applies to Non-Residents as much as it does to Residents. The Appeal was filed by the Income Tax Department challenging an Order of the…
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