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2017 (4) TMI 971 - HC - Income TaxReopening of assessment - not deducting T.D.S. on the payment of Tanker Hire Charges to the resident of France - Held that:- From the objections it appears that payment of Tanker Hire Charges was made to the resident of U.K. and Singapore only. The learned counsel appearing on behalf of the revenue is not in a position to point out any tangible material available with the A.O. in support of his belief that any payment of Tanker Hire Charges was made to the resident of France, on which T.D.S. was required to be deducted. Under the circumstances, there is not tangible material available with the A.O. to form an opinion that the income chargeable to tax has escaped assessment within the meaning of section 147 of the Act.- Decided in favour of assessee. Interest paid to the banks situated outside India - Held that:- The reason is factually not correct. As per the specific case on behalf of the assessee so stated even in the objections, no amount of interest was paid to any of the banks situated outside India. Under the circumstances, assumption of jurisdiction to reopen the assessment on the aforesaid ground is on incorrect factual premise. Under the circumstances also the impugned reassessment proceedings deserve to be quashed and set aside. - Decided in favour of assessee.
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