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2017 (5) TMI 217 - AT - Income TaxReopening of assessment - as per the TDS certificate dated 29.5.2003 issued by ONGC at ₹ 15,64,92,615/- should be considered and the figure on which earlier assessment has been framed is not correct - Held that:- From the perusal of the said TDS certificate and details of the payment mentioned therein, we find that there is one payment of ₹ 4,64,73,960/- has been mentioned to be relating to 31.03.2002, i.e., pertaining to A.Y. 2002-03. This amount as pointed out by the Ld. Sr. Counsel, stands assessed by the Assessing Officer in the A.Y. 2002-03 in the order passed u/s 143(3) dated 18.10.2004. Once, the amount outstanding as on 31.3.2002 as mentioned in the TDS certificate has been taxed in the A.Y. 2002-03, then there remains no basis for holding that this amount has been left to be taxed in the A.Y. 2003-04 at the time of passing of the original assessment order. Thus, on this ground alone, we find that there cannot be any ‘reason to believe’ for reopening the assessment u/s 147 and taxing the additional revenue which already stands assessed and taxed in the earlier assessment year. Accordingly, the ground raised by the revenue is dismissed.
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