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2016 (3) TMI 1282 - AT - Income TaxReopening of assessment - disallowing the amount of rent u/s 40 (a)(ia) for non deduction of tds - audit objection relied upon for reopening of assessment - Held that:- All material facts with regard to rent received and rent paid of board for advertisement business were disclosed by assessee in the return of income as well as at assessment stage. AO examined the issue at assessment stage thus, the Assessing Officer reopened the assessment merely on change of opinion on the basis of all the facts and material already available on record. No failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment year under appeal. AO merely on audit objection, reopened the assessment. The assessment is reopened for mistake/omission of the Assessing Officer alleged to have been committed at the original assessment stage which was the sole basis for re-opening of the assessment. The material on record clearly support the submission of assessee that rent paid was below ₹ 1,20,000/- therefore, provisions of Section 194I of the Income Tax Act may not attract in the case of the assessee. - Decided in favour of assessee.
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