The assessment was completed under section 143(3) of the Act on 22-2-2016.  The notice under section 148  dated 20-3-2020  was issued  on the  assessee. The assessee filed its objections to the re-opening and order rejecting objections dated 24th September, 2021 was passed. Assessment order  was  passed on 29th September, 2021 within five days. The assessee filed writ petition. Allowing the petition the Court held that  in  Asian Paints Ltd. v. DCIT, [2008] 296 ITR 90 (Bom)(HC), in when it was held that if the Assessing Officer does not accept the objections filed, he shall not proceed further in the matter within a period of four weeks from the date of service of the said order of the objections on the assessee. This court had also directed that all Income Tax Officers concerned shall follow the proceedings strictly in all such cased of re-opening of assessment.  Respondent are in breach of the order of this court. Accordingly the assessment order dated 29-9-2021  was set aside. Court also held that the re assessment notice is due to change of opinion accordingly,  notice dated 20-3-2020  and order passed rejecting the objections dated 24-9 2021 also set aside.   (WP. No. 7342 of 2021 dt.  19-1-2022) (AY. 2013-2014)

Nelco Ltd. v. ACIT (Bom.)(HC) (UR)