Reopening of Assessment u/s 147 can’t be initiated after Expiry of 4 years on basis of failure of assessee in deducting TDS on Interest Payment: ITAT [Read Order]

TDS - ITAT - Interest - Assessment - TAXSCAN

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the reopening of the assessment under Section 147 of the Income Tax Act, 1961 cannot be initiated after the expiry of 4 years based on the failure of the assessee in deducting the Tax Deducted at Source (TDS) on interest payment. The assessee…

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