COMMISSIONER OF INCOME TAX Vs. NHK JAPAN BROADCASTING CORPORATION

JUDGEMENT

(1.) THE Revenue is aggrieved by an order dt. 10th March, 2006 passed by the Tribunal. Delhi Bench 'A' in ITA No. 3032/Del/2001 in respect of the financial year 1990 -91. After hearing learned Counsel for the parties, we admit this appeal and frame the following substantial question of law for consideration: Whether the Tribunal was correct in law in holding that the orders passed under Sections 201(1) and 201(1A) of the IT Act, 1961 are invalid and barred by time having been passed beyond a reasonable period

(2.) FILING of paper books is dispensed with. Since the question arising in this appeal has arisen in a large number of other appeals, we have heard the matter in full and proceed to deliver judgment rather than merely admitting the matter for taking it up in due course.

(3.) SOMETIME in December, 1999, the assessed was asked to explain why it should not be treated as an assessed in default and after it had filed its response, the AO passed an order treating it as being in default for the purposes of Section 201 of the IT Act 1961 (for short 'the Act'). The view taken by the AO was accepted by the Commissioner of Income -tax (Appeals) [CIT(A)] but was reversed by the Tribunal.