Assessee, an Indian company and subsidiary of foreign company (Reuters UK), was engaged in distribution of their products to subscribers in India . Assessee requested for no-objection certificate as regards payment made to Reuters UK without deduction of tax at source and assessee was granted with same . Almost after six years, reassessment was initiated on ground that assessee had evaded payment of tax by procuring nil TDS certificate by misrepresenting facts and, thus, payment made by assessee was tax deductible at source .\u00a0 On writ the Court held that the\u00a0 rreasons for reopening of assessment listed out various clauses of agreement between assessee and Reuters UK and said agreement was made available to Assessing Officer by assessee when it applied for no-objection certificate . On facts, reasons recorded for reopening could not be accepted and reassessment was unjustified .\u00a0 ( AY. 1996 -97, 1997 -98 )<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment – After the expiry of four years – Certificate was issued for nil TDS \u2013 Reassessment notice on the ground that misrepresentation of facts \u2013 Agreement was made available when the certificate was issued \u2013 Reassessment is held to be not justified .[ S. 148 , 197, Art , 226 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-27015","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-71J","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/27015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=27015"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/27015\/revisions"}],"predecessor-version":[{"id":27016,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/27015\/revisions\/27016"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=27015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=27015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=27015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}