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JUDGMENT S. Ravindra Bhat, J. - Two questions have sought to be urged on behalf of the Revenue in the present appeals directed against the judgment of the ITAT. These are, firstly, to initiate proceedings against the assessee in default who does not deduct tax and secondly on merits the applicability of Section 2 (22) (e), in the circumstances of the case. 2. Theses appeals concern the Assessment Years 1999-2000, 2000-01 and 2001-02. Ms. Harjit Kaur, concededly a shareholder of M/s Pure Drinks (New Delhi) Ltd. had borrowed amounts from C.J. International Hotels Pvt. Ltd. i.e., the assessee. The Assessing Officer (AO) sought to bring them to tax under Section 2 (22) (e) reasoning that since she had more than 10% stake in the assessee company, and that the other conditions spelt out in Section 2 (22) (e) were satisfied, it had to be treated as deemed dividend. The assessee contended in the appeal that the initiation of proceedings under Section 201 was barred; it was contended on merits that Harjit Kaur was a shareholder in M/s Pure Drinks (New Delhi) Ltd. and could not be considered as a shareholder in C.J. International Hotels Pvt. Ltd. The other contention was that the said individual could not be considered even as a beneficial shareholder of the assessee. Both the contentions were accepted by the CIT (A) and the ITAT. 3. Mr. Kamal Sawhney, Sr. Standing Counsel in support of the Revenue's appeal argues that given the terms of Section 201, no limitation can be imputed and that if Parliament had so intended like other instances in the Income Tax Act, a specific period would have been engrafted. He also relied upon specific amendments made to secure Section 201 by virtue of Finance Act 2/2009 w.e.f. 1.4.2010 and the other 2/2014 w.e.f. 1.10.2014. It was argued next that since the shareholder was a direct beneficiary and a beneficial owner of shares of the assessee, the AO acted correctly within jurisdiction in invoking Section 2 (22) (e). 4. Counsel for the assessee points out that the ruling of this Court as to the period of limitation, i.e., CIT v. NHK Japan Broadcasting Corpn. [2008] 305 ITR 137/172 Taxman 230 (Delhi) and CIT v. Hutchison Essar Telecome Ltd.…

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