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2014 (5) TMI 780 - HC - Income TaxValidity of notice u/s 148 of the Act Bar of limitation Mere change of opinion - TDS not deducted Wrong claim of deduction of STT Held that:- Neither the notice issued u/s 148 nor the reasons furnished contained any allegation that the escapement of tax was on account of any failure on the part of the assessee to fairly and truly disclose any material - what is sought to be argued was the merits of the issue pertaining to the amount that ought to have been added to the assessee's income - It is not even suggested that any material had been withheld or that the AO had not applied his mind to the relevant material - such a contention could not have been raised as the assessee had clearly disclosed the entire record thus, the reopening on this ground is not maintainable. The assessee has furnished the details of the deductions of tax in respect of which he had claimed expenditure - it has deducted tax at source u/s 194J of the Act and a statement giving details was also enclosed - It is not contended that any information in this regard had not been disclosed - It is not suggested that the deduction had not been made in respect of any item other than that mentioned in the said query-sheet the assessee stated that it had deducted tax on Demat charges - it is not contended that any material had been withheld or that the tax not being deducted in respect of any payment other than the mentioned in the statement - It is difficult to understand on what basis it is alleged that the income had escaped tax on a deduction that had not been claimed - the reasons do not even allege that the assessee had failed to disclose fully and truly all material facts necessary for the assessment thus, the proposed reopening is only on the basis of a change in opinion which is not permissible Decided in favour of Assessee.
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