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2016 (3) TMI 1371 - ITAT MUMBAIRe-opening of assessment u/s 147 - basis of information received from State Bank of Surat about non-deduction of TDS - HELD THAT:- There is no details given by AO as to which the fact or material was not disclosed by the assessee which lead to escape assessment. Merely referring a bald assertion that “I have reason to believe that it is a failure of assessee part or not to add back the amount of ₹ 58,94,437/- to the total income u/s. 40(a)(ia) of the Act” is not sufficient to frame notice for re-opening concluded assessment beyond the four years. Thus the notice (impugned notice u/s. 48 is bad in law) and does not qualify a sustainable notice under the scrutiny of law, hence, the legal ground raised by the assessee is allowed and the re-opening of assessment is declared as invalid. Disallowance on expenditure u/s. 14A and interest levied u/s 234D of Act. As we have already concluded that reopening of assessment is invalid, hence, the disallowances or additions or consequential interest made in the re-assessment order are became academic.
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