TMI Blog2017 (1) TMI 1192X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that with respect to the flats sold in AY 2006-2007, the assessee must have received on-money. From the record available, it appears that there is no further tangible material available with the Assessing Officer to form a belief that the assessee had received on-money with respect to the flats sold in A.Y 2006-2007 and/or had received any on-money in the AY 2006-2007. With respect to addition made in respect of on-money received in A.Y 2007-2008, the same has been subsequently set-aside by the learned CIT [A], against which an appeal was preferred which has been dismissed on the ground of low tax effect. Considering the aforesaid facts and circumstances of the case and solely on the observations made by another Assessing Officer with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. The original assessment for AY 2006-2007 was a scrutiny assessment under Section 143 [3] of the Act which was framed and finalized as far back as on 13th December 2007. Necessary particulars/queries were asked before framing the scrutiny assessment; including the flats sold by the assessee and the gross profit earned by the assessee, and thereafter only, the Assessing Officer framed the scrutiny assessment under Section 143 [3] of the Act. 2.1 Thereafter, beyond the period four years from the relevant assessment year, the Assessing Officer has issued impugned Notice under section 148 of the Act by which the assessment for A.Y 2006-2007 is sought to be reopened on the ground that the income chargeable to tax has escaped assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted that on the basis of the observations made in the subsequent assessment years with respect to the flats sold in the subsequent years, the finalized scrutiny assessment cannot be reopened. It was submitted that the entire issue was gone into by the Assessing Officer while framing the scrutiny assessment. It was submitted that even the basis on which the assessment is reopened ie ., observations made for A.Y 2007-08, the addition made by the Assessing Officer on on-money with respect to the flats sold in A.Y 2007-08, have been set-aside by the learned CIT [A] and the Appeal before the learned Tribunal was dismissed on the ground of low tax effect. That thereafter, the Assessing Officer has disposed of the objections vide communication ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ile framing the scrutiny assessment, and therefore, the subsequent reopening can be said to be a change of opinion by the subsequent/another Assessing Officer, which is not permissible. It is submitted that there was no nondisclosure on the part of the assessee in not disclosing the true and correct facts. It is, therefore, submitted that the assumption of jurisdiction to reopen the assessment beyond the period of four years is bad in law and deserves to be quashed and set-aside. 4. The present petition is vehemently opposed by Shri Nitin Mehta, learned advocate appearing on behalf of the Revenue. It is submitted that the flats which were sold in AY 2006-2007 and the flats which were sold in AY 2007-2008 were out of the same scheme f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er flats viz . Flat Nos. 203, 303 503 and the same was ensured by the assessee. Therefore, a detailed inquiry was made with respect to the price at which these flats were sold in the relevant assessment year. Hence, the subsequent reopening can be said to be on change of opinion by another Assessing Officer, and therefore, the same is not permissible. 7. From the material available on record, it appears that with respect to flats sold in AY 2006-2007, as a detailed questionnaire was asked by the Assessing Officer before framing the scrutiny assessment under section 143 [3] of the Act which was supplied by the assessee and only thereafter, the Assessing Officer framed the scrutiny assessment for AY 2006-2007. From the reasons recorded ..... X X X X Extracts X X X X X X X X Extracts X X X X
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