The assessment was completed u/s. 143(3) of the Act was completed  on 12-3-2015. In the course of assessment proceedings notice was issued under section 142(1)) of the Act. The petitioner provided all the details as required. The rental income was assessed as income from house property and deduction was claimed u/s 24 of the Act. The  notice was issued u/s 148 of the Act on the ground that since the properties were not transferred from BCCL to petitioner  the income was assessable under the head business income or income from other sources and  the assessee is not entitle to the deduction under section 24 of the Act. On writ  allowing the petition  the Court held that the Assessing Officer had in his possession all the primary facts and it was for him to make necessary enquiries and draw proper inference as to whether the amount was to be allowed as deduction under section 24 of the Act. When the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not entitled on change of opinion to commence proceedings for re-assessment.  Notice of reassessment and order disposing the objection was quashed. (WP No. 2984 of 2019, dt-4-1-22) (AY. 2012-2013)

Bennett Property Holdings Company Ltd. v. DCIT (Bom.)(HC) (UR)