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2018 (3) TMI 803

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..... of the change in shareholding pattern during the assessment proceedings. The grievance of the Revenue that the Petitioner failed to bring to the notice of the AO the application of Section 79 is a question of application of law and has nothing to do with the obligation as the Assessee makes full and true disclosure of all facts during the regular assessment proceedings. If all facts are truly and fully disclosed then reopening notice beyond the period of four years is barred by virtue of proviso to Section 147. Thus, prima facie, the first ground is not sustainable. Payment made in foreign exchange to players for performance in India during the previous year without having deducted tax at source - Held that:- So far as the second gr .....

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..... ate with Mr. Nishant Thakkar with Ms. Jasmin Amalsadvala i/by PDS Legal, Advocates for the Petitioner. Mr. N.C. Mohanty, Advocate for the Respondents. P.C: Heard. 2. Rule. 3. This Petition under Article 226 of the Constitution of India challenges the notice dated 31.3.2017 issued by the Assessing Officer under Section 148 of the Income-Tax Act, 1961 (The 'Act') seeking to reopen the assessment for the Assessment Year 2010-2011. On 28.3.2013 the Petitioner had been assessed to tax in regular assessment proceedings under Section 143(3) of the Act. The impugned notice is admittedly beyond the period of 4 years from the end of the relevant Assessment Year. Therefore, it could only be issued on satisfaction of the .....

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..... with annual return filed with the Registrar of Companies. Thus, the change in the shareholding pattern in two Assessment Years in the required format was forwarded to the Assessing Officer. Thus, prima facie there was complete disclosure of all facts by the Petitioner in respect of the change in shareholding pattern during the assessment proceedings. The grievance of the Revenue is that the Petitioner failed to bring to the notice of the Assessing Officer the application of Section 79 of the Act on the aforesaid facts. This is a question of application of law and has nothing to do with the obligation as the Assessee makes full and true disclosure of all facts during the regular assessment proceedings. If all facts are truly and fully discl .....

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..... what inferences whether of facts or law he would draw from the primary facts. 5. Thus, prima facie, the first ground is not sustainable. 6. So far as the second ground is concerned, we note that it proceeds on the fundamental erroneous basis that the relevant previous year subject to the Assessment Year 2010-2011, Indian Premier League was performed in India when in fact, it has admittedly played in South Africa and not in India. During the assessment proceedings, the Assessee was called upon by letter dated 6.11.2012 to give details of all expenses along with TDS if applicable. The Petitioner in response on 22.11.2012 had given complete details of expenses during the relevant previous year to the subject assessment year 2010-11. .....

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