C.I.T. vs M/S.BRITISH AIRWAYS

The Supreme Court addressed the issue of whether the assessee(s) could be declared as assessee(s) in default under Section 192 read with Section 201 of the Income Tax Act, 1961, despite the Department's stance on limitation. The Court noted that the assessee(s) had paid the differential tax and interest, and undertook not to claim a refund for the amounts paid. The question of law on limitation was left open, and the civil appeals filed by the Department were disposed of with no order as to costs.