The assessment was completed u/s 143(3) of the Act . In the course of assessment proceedings specific query was raised regarding loan taken and utilisation thereof during assessment proceeding  and answered.  The reassessment notice was issued on the ground that the interest expense cannot be allowed as a deduction to the assessee either under section 24(b) or under section 57 of the Act. On writ allowing the petition the Court held that entire basis was from available records and once a conclusive view had been taken by Assessing Officer, another officer could not rely on same documents or information to take a view different from view already taken . Therefore reopening of assessment being mere change of opinion was not justified . Accordingly the notice of reassessment and order disposing the objection was quashed . (AY.2006-07)