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TMI Blog2022 (4) TMI 1325X X X X Extracts X X X X X X X X Extracts X X X X ..... ition. 2. Admittedly, the re-opening has been proposed before the expiry of four years from the end of relevant assessment year, and therefore, even proviso to Section 147 will not apply. At the same time, it is settled that if an assessment has been completed under Section 143(3), re-opening cannot be proposed on the basis of change of opinion. In this case assessment under Section 143(3) has been completed. Let us now examine whether the notice is sustainable. 3. We have considered the reasons recorded and we are satisfied that the re-opening proposed is on the basis of change of opinion. Two issues are raised in the reasons for reopening. The first issue is, petitioner has, in the profit and loss account and balance sheet, shown closin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gs as could be seen from Item No.16 in the annexure to notice dated 8th October, 2018, issued under Section 142(1) of the Act and petitioner has replied to, the same vide petitioner's letter dated 8th November, 2021. Dr. Shivram states that this issue has not been discussed in the assessment order but still relying on Aaroni Commercials Ltd. vs. Deputy Commissioner of Income-tax-2(1) (2014) 44 taxmann.com 304 (Bombay) submitted that once a query has been raised and it has been replied to, the Assessing Officer is deemed to have applied his mind and considered the same even if that issue has not been discussed in the assessment order." 5. This Court, in paragraph 4 of the said order dated 27th January 2022 in Writ Petition No.102 of 202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessment. It is not necessary that an assessment order should contain reference and/or discussion to disclose its satisfaction in respect of the query raised. In this case, during the original assessment proceedings, a notice dated 19th October 2019 was issued under Section 142(1) of the Act by which petitioner was called upon to furnish copies of Index II(s) of three flats sold during the year. Petitioner responded by its letter dated 14th November 2019 and provided copies of Index II of flats sold during the year. Therefore, it is abundantly clear that the second issue relating to nine flats out of the twelve flats mentioned in the reasons for reopening was a subject of consideration of the Assessing Officer while completing the assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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