TaxTMI 
TaxTMI 
2022 (3) TMI 769
X X X X Extracts X X X X
X X X X Extracts X X X X
....(hereinafter referred to as "the Act") for A.Y. 2012-13 with the following grounds: "1. The Honorable CIT Appeals-2 has erred in facts and in law, in confirming Amt. of Rs. 9,27,148/- due to non deduction of TDS U/s. 40(a)(ia) of I.T. Act on Payment made to various Laborer on Cash basic. 2. The Honorable CIT Appeals-2 has erred in facts and in law, in confirming Amt. of Rs. 3,31,008/- as Interest income on advances given to party as a interest free advances. 3. The Honorable CIT Appeals-2 has erred in facts and in law, in confirming amount of Rs. 2,30,995/- U/s. 14A of I.T. Act against exempted Income disclosed in Profit & Loss account as a dividend Income. 4. The Assessment made is bad in law, invalid an....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... the Ld. AO finalized the assessment on 20.11.2014 without making any addition. It was further argued by him that the same ITO has initiated the proceeding by issuance of notice under Section 148 of the Act dated 18.12.2015 which is available at Page 2 & 3 of the Paper Book filed before us. According to the Ld. Senior Counsel the reason to believe that income in respect of certain items has escaped assessment is nothing but a change on opinion particularly when the assessment has been finalized on the same issue taking into consideration the relevant documents submitted by the assessee as per requirement of the Revenue. Under this circumstances he prays for quashing of the said proceeding initiated under Section 147/148 of the Act. In su....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 2. The assessee has debited processing expenses of Rs. 1909391/- in P & L account however the assessee has not deducted TDS on it. Therefore, the nature of payment gets covered under the there should limit laid down u/s. 194C of the I T Act for deducting TDS. The processing expenses required to disallowed. 3. As per the provisions of section 14A of the IT Act, 1961, no deduction shall be allowed in respect of expenditure incurred by assessee in relation to income which does not from part of the total income under this act. Further as per rule 8D of the income tax rules, 1962, expenditure in relation to income which does not from part of the total income shall be the aggregate of amount. An amount equal to one-half ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....assessment under Section 148 of the Act by recording reasons on 18.12.2015. According to us the same is nothing but change of opinion of the concerned officer which is per se bad in law particularly when the issue has already been settled after considering the entire set of documents in respect of the said claim as submitted by the assessee in terms of the notice under Section 142(1) dated 14.08.2014. 8. We further note that though the judgment of PCIT, Vadodara-2 vs. Sun Pharmaceutical Industries Ltd., reported in (2017) 79 taxmann.com 61 (SC) has been relied upon by the Ld. DR in support of reopening of assessment the Ld. DR has not been able to show as to how the said judgment is applicable to the case in hand before us. 9. On this....