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May 2026

Re-assessment — Original assessment completed u/s. 143(3) —Re-opening of assessment on same set of facts — Issue considered and accepted by the assessing officer in the original assessment — Re-opening on same issue — Change of opinion — Impermissible —Order u/s. 148A(d) and notice u/s. 148 quashed.

By Keshav Bhujle | Ritu Punjabi, Advocates
Reading Time 3 mins

9. Suresh P. Bhadani (HUF) vs. ITO:

TS-40-HC-2026-Guj:

A. Y. 2018-19: Date of order 06/01/2026:

Ss. 143(3), 147, 148 and 148(d) of ITA 1961

Re-assessment — Original assessment completed u/s. 143(3) —Re-opening of assessment on same set of facts — Issue considered and accepted by the assessing officer in the original assessment — Re-opening on same issue — Change of opinion — Impermissible —Order u/s. 148A(d) and notice u/s. 148 quashed.

The Karta of the Assessee HUF purchased an office, the agreement for purchase of which was executed on 20/06/2017 and thereafter registered sale deed was executed on 28/06/2017. The return of income for the A. Y. 2018-19 was filed declaring NIL total income. The case was selected for scrutiny and notice u/s. 143(2) of the Act was issued. The assessment was completed u/s. 143(3) of the Act accepting the returned income of the assessee.

Subsequently, in March 2022, re-assessment proceedings were initiated for the reason that the difference in price at which the property was purchased by the assessee and the valuation as per the stamp duty was taxable in the hands of the assessee u/s. 56(2)(x) of the

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