Application of Section 14 of Limitation Act in Income Tax Proceedings
- News|Blog|Income Tax|
- < 1 minute
- By Taxmann
- |
- Last Updated on 8 April, 2022
Latest from Taxmann
CA Gaurav Jain & Shubham Gupta – [2022] 137 taxmann.com 45 (Article)
Most rights are subject to limitations that are necessary and reasonable in a democratic society for the realization of certain common goods such as social justice, public order and effective government or for the protection of the rights of others. The limitation is either engrained in the state itselfor in case no limitation is prescribed, resort can be had to the Law of Limitation, 1963. The Law of Limitation is a procedural law which is founded on public policy.
It is based on the the maxims “Interest Reipublicae Ut Sit Finis Litium” which means that litigation must come to an end and “vigilantibus non dormienti bus Jura subveniunt”, which means that the law assist those who are vigilant in their rights and not those who sleep on their own rights. However the law also recognizes that substantive rights must not be trump by procedural law.
Section 14 of the Limitation Act is one of such section, which is based on this principle to advance the cause of justice.
Click Here To Read The Full Article
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
