The assessee is builder. The\u00a0 assessment was completed u\/s. 143(3) Subsequently AO\u00a0 reopened\u00a0 the assessment\u00a0\u00a0 on the ground that record of assessee was checked and it was found that it was a builder and, therefore, to verify intelligence gathered by Intelligence Wing, it was necessary to carry out detailed inquiry, and\u00a0 the assessee had developed society land which according to information received did not contain any agreement. Assessee repeatedly pointed out to AO that it had neither developed any such project nor claimed exempt income arising out of such project. AO rejected the objection filed by the assessee. On writ the Court held that from reasons recorded it was very clear that AO wished to carry out a fishing inquiry. Accordingly the reopening of assessment could not be permitted for carrying out fishing inquiries. (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment\u2013Fishing enquiry\u2013Information from intelligence wing-Builder-Make detailed enquiry-Reassessment is held to be bad in law. [S. 28(i), 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":[1],"tags":[],"class_list":["post-8895","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2jt","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8895","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=8895"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8895\/revisions"}],"predecessor-version":[{"id":8896,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8895\/revisions\/8896"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}