Assessee deducted TDS on share purchase from non-residents, but AO recharacterized it unlawfully. Court upheld assessee's stance.

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....TDS u/s 195 - default u/s 201(1)/201(1A) - assessee deducted TDS at 10% plus surcharge on consideration paid for purchase of shares from non-resident sellers - TDS Officer re-characterized transaction from 'sale of shares' to 'sale of assets' - HELD: Assessee deducted TDS on payments made for share purchase and deposited it with Government - AO re-characterized nature of transaction in proceedings u/s 201 beyond jurisdiction - Undisputed facts show assessee not an 'assessee in default' - No infirmity in impugned order, upheld against revenue.....