Reassessment proceedings couldn’t be initiated in absence of failure on part of assessee to disclose facts

INCOME TAX : Reassessment proceedings initiated by Assessing Officer on ground that External Development Charges (EDC) paid by assessee to Haryana Urban Development Authority (HUDA) were subject to TDS under section 194 and in absence of TDS, amount would be subject to disallowance under section 40(a)(ia) without giving any basis for forming said opinion, deserved to be set aside; SLP dismissed

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