Held that the assessment year involved was 2012-13 and four years end on March 31, 2016. However the show-cause notice was issued by the Assessing Officer on July 27, 2017 and order was passed on July 26, 2017 which was beyond four years. Therefore, the order passed was barred by limitation, not maintainable in law and is quashed. Quantum appeal quashed,penalty cannot be levied. (AY.2012-13)
Nisarahmed Abdulsattar Shaikh v. ITO (2023) 107 ITR 233 (Ahd.)(Trib.)
S. 206C : Collection at source-Trading-Alcoholic liquor-Forest produce-Scrap-Limitation-Assessment year 2012-13-Assessing Officer ought to have assessed order under section 206C(6A) on or before 31-3-2016-Order barred by limitation-Penalty-Failure to collect tax at source-Quantum appeal quashed-Penalty cannot be levied. [S. 206C(7),271CA]