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2024 (2) TMI 609 - BOMBAY HIGH COURTReopening of assessment - deduction u/s 80IB in respect of income received from sale of flats in buildings - HELD THAT:- In the assessment order the details of the project have been stated. It is also stated that Assessee was claiming deduction u/s 80IB in respect of income received from sale of flats in buildings that Assessee had declared from residential units of buildings and declared profit subject to claim of deduction u/s 80-IB. There is also a note on deduction u/s 80-IB where the residential buildings No. 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 during the course of assessment proceedings leading to the order dated 25th March 2013. This change of opinion does not constitute justification and/or reasons to believe that income chargeable to tax has escaped assessment. Decided in favour of assessee.
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