9911796707
TMI Blog2024 (7) TMI 1095X X X X Extracts X X X X X X X X Extracts X X X X ..... sons, it is apparent that the AO on the same material has arrived at a reason to believe that the income has escaped assessment though the petitioner has explained the same during the regular assessment proceedings and there is no failure on part of the petitioner to fully and truly disclose all material facts during the assessment for the year under consideration. It is a mere change of opinion on part of the AO and the impugned notice is without jurisdiction and also hit by the Proviso to Section 147 of the Act. Decided in favour of assessee. - HONOURABLE MR. JUSTICE BHARGAV D. KARIA AND HONOURABLE MR. JUSTICE NIRAL R. MEHTA Appearance: For the Petitioner(s) No. 1: Mr Tushar Hemani, Sr. Advocate With Ms Vaibhavi K Parikh (3238). For the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the same. 3.2 The petitioner by letter dated 08th September, 2017 provided the details with regard to the TDS query that as per the I.T. Return, total TDS credit was Rs. 19,24,879/- as against total TDS of Rs. 19,58,251/- as per Form 26AS and explained the difference of Rs. 33,372/-. It was explained by the assessee that the TDS of Rs. 33,356/- effected by Paschim Gujarat Vij Company Limited (for short PGVCL ) and TDS of Rs. 16/- effected by Go Airlines India Ltd. has been deducted, comprises of amount totaling to Rs. 33,372/-. It was explained that PGVCL deducted TDS on interest given on the electricity security deposit in respect of Navalgadh Unit, however the petitioner has sold the said unit to one M/s.Salasar Agropanel Pvt. Ltd. in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deration. Whereas the total TDS in the account of the assessee as reflected in 26AS data is Rs. 1958251/- Therefore, the assessee made short claim of TDS amounting to Rs. 33,372/- and hence the assessee company has not offered corresponding income to that extent. 3. ANALYSIS OF INFORMATION: The assessee company in its return of income claimed TDS of Rs. 1958251/-, whereas the TDS as per 26AS is Rs. 1924879/-. Therefore, it is clear that the assessee company did not claim TDS amounting to Rs. 33372/-. Hence, the assessee company has not offered income corresponding to the unclaimed TDS of Rs. 33372/-. Hence, the assessee's income for the year under consideration has escaped assessment because of failure on the part of the assessee to dis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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