9911796707
TMI Blog2024 (2) TMI 609X X X X Extracts X X X X X X X X Extracts X X X X ..... . 3,4,7 and 8 have been discussed. Therefore, once a query is raised during the assessment proceedings and Assessee has replied to it, it follows that the query raised was the subject of consideration of the AO while completing the assessment. Moreso, when the assessment order contains reference and/or discussion to disclose its satisfaction in respect of the query raised. Therefore, there can be no doubt in the present facts that the deduction claimed u/s 80-IB was a subject matter of consideration by the AO during the original assessment proceedings leading to passing of the assessment order. Therefore, the reopening of the assessment by the impugned notice is merely on the basis of change of opinion of the AO from that held earlier du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0(1B) (10) of the Income Tax Act, 1961 to the tune Of Rs. 21,53,45,489/- The scrutiny assessment u/s 143(3) of the Income Tax Act, 1961 was completed on 25.03.2013 determining total income at Rs. 3,09,060/-. 2. The assessee is a registered partnership firm engaged in the business activities of construction and development of the properties. It is seen from the record that during the previous year relevant to A.Y. 2010-11, the assessee had partly completed a project called Balaji Garden at Kopar (E), near Dombivali, consisting of 9 buildings (numbered building Nos. 1A/1B 2 to 8). The commencement certificate (C.C.) for the housing project was first issued by Kalyan Dombivali Municipal Corporation (KDMC) on 08.02.2007 for constructi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10) of the Income Tax Act, 1961. 6. In view of the above, I have reason to believe that income chargeable to tax has escaped assessment to the extent of Rs. 21,53,45,489/- for A.Y. 2010- 11. Therefore, the proposal for re-opening the case by issue of notice u/s 148 of the Income Tax Act is being made for kind perusal and approval. 3. Mr. Agrawal submitted detailed notices and questionnaires were received during the assessment proceedings and the provisions of Section 80-IB(10) of the Act in respect of Building No. 3,4,7 and 8 were extensively discussed and considered during the assessment proceedings. Therefore, according to Mr. Agrawal, it is nothing but a clear case of change of opinion and it does not constitute justification ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edings and Assessee has replied to it, it follows that the query raised was the subject of consideration of the AO while completing the assessment. Moreso, when the assessment order contains reference and/or discussion to disclose its satisfaction in respect of the query raised. 6. Therefore, there can be no doubt in the present facts that the deduction claimed under Section 80-IB of the Act was a subject matter of consideration by the AO during the original assessment proceedings leading to passing of the assessment order dated 25th March 2013. Therefore, the reopening of the assessment by the impugned notice dated 16th March 2015 is merely on the basis of change of opinion of the AO from that held earlier during the course of assessmen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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