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TMI Blog2018 (3) TMI 670X X X X Extracts X X X X X X X X Extracts X X X X ..... valuer's report itself indicates that if overhead terraces on the ninth floor and on the first floor, if included then the area of some of the flats would be in excess of 1,500 square feet each. Prima facie, the reasons recorded in support of the notice shows that the Assessing Officer has not applied his mind independently to the valuer's report and has merely relied upon the interpretation of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer Respondent No.1 under Section 148 of the Income Tax Act, 1961 (the Act). The impugned notice seeks to re-open the Petitioner's assessment for Assessment Year 2010-11. The regular assessment proceedings were completed on 31st January 2013 under Section 143(3) of the Act. The reasons recorded in support of the impugned notice proceeds to form a reasonable belief that income chargeabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with regard to the Respondent's claim for benefit under Section 80(IB) (10) of the Act in regard to the size of the flats and on verification it was found in excess of 1,500 square feet per flat. We also note that in the subsequent Assessment Year i.e. AY 2011-12, the Assessing Officer on examining the valuer's report which forms the basis of the audit objection found that the terraces on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at if overhead terraces on the ninth floor and on the first floor, if included then the area of some of the flats would be in excess of 1,500 square feet each. 5. Prima facie, the reasons recorded in support of the notice shows that the Assessing Officer has not applied his mind independently to the valuer's report and has merely relied upon the interpretation of law by the audit. This is n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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