{"id":32213,"date":"2023-01-28T17:03:50","date_gmt":"2023-01-28T11:33:50","guid":{"rendered":"https:\/\/itatonline.org\/digest\/nishith-madanlal-desai-v-cit-2022-218-dtr-268-139-taxman-52-bom-hc\/"},"modified":"2023-01-28T17:03:50","modified_gmt":"2023-01-28T11:33:50","slug":"nishith-madanlal-desai-v-cit-2022-218-dtr-268-139-taxman-52-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/nishith-madanlal-desai-v-cit-2022-218-dtr-268-139-taxman-52-bom-hc\/","title":{"rendered":"Nishith Madanlal Desai v.CIT ( 2022) 218 DTR 268 \/ 139 Taxman 52 ( Bom)( HC)"},"content":{"rendered":"<p>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 \u00a0and answered. \u00a0The reassessment notice was issued on the ground that the interest expense cannot be allowed as a deduction to the assessee either under section 24(<em>b<\/em>) 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\u00a0. Accordingly the notice of reassessment and order disposing the objection was quashed . (AY.2006-07) \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147: Reassessment &#8211;  After expiry of four years \u2013 Income from other sources \u2013 Income from house property -Query had been raised regarding loan taken and utilisation thereof during assessment proceeding  and answered &#8211;  Reopening of assessment to disallow interest on such loan -Change of opinion  reassessment notice and objection disposing the objection was quashed [ S. 24(3), 56 ,  148 , Art , 226 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-32213","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8nz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=32213"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32213\/revisions"}],"predecessor-version":[{"id":32214,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32213\/revisions\/32214"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=32213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=32213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=32213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}