https://www.taxtmi.com/caselaws?id=245273 The Tribunal upheld the legality of the reopening of assessment under Section 148 of the Income Tax Act, emphasizing that the original assessment completed under Section 143(1) did not involve detailed scrutiny. The Tribunal ruled in favor of the Assessing Officer's method of determining the cost of construction per square foot based on the total constructed area rather than the saleable area. The decision highlighted that the cost should include common areas and facilities, leading to the dismissal of the assessee's appeal. en-us Fri, 07 Mar 2014 00:00:00 +0530 Tue, 25 Mar 2014 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245273 The Tribunal upheld the legality of the reopening of assessment under Section 148 of the Income Tax Act, emphasizing that the original assessment completed under Section 143(1) did not involve detailed scrutiny. The Tribunal ruled in favor of the Assessing Officer's method of determining the cost of construction per square foot based on the total constructed area rather than the saleable area. The decision highlighted that the cost should include common areas and facilities, leading to the dismissal of the assessee's appeal. Case-Laws Income Tax Fri, 07 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245273