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2015 (4) TMI 302 - HC - Income TaxReopening of assessment - royalty payment claimed as revenue expenditure - Held that:- Assessing Officer and Transfer Pricing Officer were not only aware of the payment of Royalty but had taken the same into consideration at every stage. The Assessing Officer infact expressly called for the said information. It cannot be held, therefore, that the Assessing Officer was not aware of the “Royalty” and had not taken the same into consideration before passing the assessment order under Section 143 of the Act. It is also important to note that proceedings had been initiated under Section 154 of the Act by the issuance of a notice dated 24.3.2011. However, the same were dropped holding that it was a debatable issue which would be apparent from the affidavit filed by D.C.I.T. Dated 20.11.2014 in the present case. The impugned notice under Sections 147 and 148, therefore, are clearly based only on change of opinion which is not permissible. - Decided in favour of assessee.
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