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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 ..... he Assessing Officer had benefit of the judgment of the Delhi High Court relied upon by the Assessing Officer wanting to re-open the assessment but still did not find anything wrong in the case made out by petitioner and proceeded to pass the assessment order. Market value being more than the agreement value and applicability of Section 43CA(1) - As held by this Court in Aaroni Commercials Ltd . [ 2014 (2) TMI 659 - BOMBAY HIGH COURT ] once a query is raised during assessment proceedings and assessee has replied to it, it follows that the query raised was a subject matter of consideration of the Assessing Officer while completing the assessment. It is not necessary that an assessment order should contain reference and/or discussio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 148 of the Income Tax Act, 1961 (the said Act) for A.Y. 2017-18 and the order dated 10th December 2021 rejecting petitioner s objections. The subsequent notices issued have also been included in the petition. 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lats of two projects at Kandivali and Bandra and according to respondents, petitioner's has not offered tax under the head income from house property. Dr. Shivram states that the same issue was raised during the assessment proceedings 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me-tax -2(1) (2014) 44 taxmann.com 304 (Bombay) once a query is raised during assessment proceedings and assessee has replied to it, it follows that the query raised was a subject matter of consideration of the Assessing Officer while completing the assessment. 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 I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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