The assessment is\u00a0 reopened\u00a0\u00a0 on ground that assessee was not eligible for deduction under section 80IB(10) as it had failed to complete requirement stated in section 80IB(10) towards time limit for completion of housing project.\u00a0 During original assessment proceedings, deduction under section 80IB(10)\u00a0 was subject matter of consideration by Assessing Officer Assessing Officer raised a query regarding same and assessee had replied to it.\u00a0 There was also a note on deduction under section 80IB(10)\u00a0 where in\u00a0 residential buildings in question had been discussed. On writ the court held that\u00a0\u00a0 reopening of assessment merely on basis of change of opinion of Assessing Officer from that held earlier during course of assessment proceedings would not constitute justification and\/or reason to believe that income chargeable to tax had escaped assessment.\u00a0 \u00a0(AY. 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-With in four years-Housing projects-Failure to complete the project within time limit-Change of opinion-Notice and order disposing the objection is quashed. [S.80IB(10), 143(3), 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-46681","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-c8V","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/46681","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=46681"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/46681\/revisions"}],"predecessor-version":[{"id":56438,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/46681\/revisions\/56438"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=46681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=46681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=46681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}