TMI Blog2014 (12) TMI 393X X X X Extracts X X X X X X X X Extracts X X X X ..... iating an action of reassessment was in contemplation of the AO at the time of the original assessment and a full reply had been given by the Chartered Accounts reconciling the differences pointed out by the AO – the AO in the assessment order dated 30.03.2008 had not made any additions after being fully satisfied by the reply submitted on behalf of the petitioner / assessee - It is clear that the attempt to reopen the assessment on this ground would be nothing but an attempt at changing the earlier opinion, which is not permissible in law – the facts had been fully and truly disclosed before the AO at the time of the original assessment. TDS deducted u/s 40(a)(ia) or not – Held that:- Assessee pointed out that the payments were made to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o fully and truly disclose all material particulars necessary for his assessment; and (b) because of such failure income has escaped assessment. 2. According to the learned counsel for the petitioner, there is no failure on the part of the assessee / petitioner in disclosing all the material particulars. Furthermore, it is contended that the reopening is premised on a mere change of opinion which is also not permissible. 3. Alongwith the notice dated 26.03.2014, the recorded reasons for reopening the assessment were supplied to the petitioner. The said reasons were as under:- REASONS FOR REOPENING THE CASE U/S 147 The assessment in this case was completed u/s 143(3) on 30.3.2008 at an income of ₹ 1,58,73,600/-. On exam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 147. The petitioner filed objections on 02.05.2014 which were considered and rejected by the Assessing Officer by an order dated 09.05.2014. The petitioner is aggrieved by the said notice dated 26.03.2014 and the rejection order dated 09.05.2014. 4. The learned counsel for the department / revenue defended the action taken by the Assessing Officer. She reiterates the stand taken in the counter affidavit and submits that this is a fit case for reopening of assessment. 5. Having considered the arguments advanced by the counsel for the parties, it is evident that the recorded reasons disclose two points which have purportedly led to the issuance of the impugned notice. The first point was that on examination of the records it was f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ining the difference in the amount as per TDS certificates and the amount shown as turnover in the profit and loss account. In this regard we explain that the amount shown in the TDS certificates are inclusive of all taxes like Service Tax, Works Contract Tax, VAT/ CST whereas the amount taken as turnover in the profit and loss account is exclusive of all taxes. The taxes appearing on the bills are accounted as liability and hence appears in the balance, if remains payable. Further in case there is some recovery on account of freight / Octroi etc that will be credited to the respective expense head and not included in the turnover. This accounting procedure is followed by the assessee for last many years and there is no change in that. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order and oblige. Thanking You Your's Faithfully For Satinder Saini Co . Chartered Accountants (S K Saini) It is evident from the above extract that the very same difference which is sought to be made the subject matter of the reasons for initiating an action of reassessment was in contemplation of the Assessing Officer at the time of the original assessment and a full reply had been given by the petitioner s Chartered Accounts reconciling the differences pointed out by the Assessing Officer. Thereafter, the Assessing Officer in the assessment order dated 30.03.2008 had not made any additions after, apparently, being fully satisfied by the reply submitted on behalf of the petitioner / assessee. It is, therefore, clear th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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