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2022 (1) TMI 1232 - BOMBAY HIGH COURTValidity of Reopening of assessment u/s 147 - change of opinion - HELD THAT:- The issue raised is regarding the finished stocks which was for unsold flats 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. 2014 (2) TMI 659 - BOMBAY HIGH COURT 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. Mr. Suresh Kumar requests the matter be taken up after a week so that he can take instructions in the meanwhile. Stand over to 24th January, 2022. Respondents in the meanwhile shall not take any further steps pursuant to the order passed on 10th December, 2021, rejecting petitioner's objection.
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