https://www.taxtmi.com/caselaws?id=449458 The Bombay HC ruled in favor of the assessee regarding reopening of assessment for Section 80IB deduction on income from flat sales. The court held that since the AO had already considered and discussed the Section 80IB deduction claim for residential buildings during original assessment proceedings, with the assessee responding to queries raised, the subsequent reopening was merely based on change of opinion. The court determined that change of opinion alone does not constitute valid reasons to believe income escaped assessment, making the reopening notice invalid. en-us Thu, 08 Feb 2024 00:00:00 +0530 Wed, 09 Jul 2025 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449458 The Bombay HC ruled in favor of the assessee regarding reopening of assessment for Section 80IB deduction on income from flat sales. The court held that since the AO had already considered and discussed the Section 80IB deduction claim for residential buildings during original assessment proceedings, with the assessee responding to queries raised, the subsequent reopening was merely based on change of opinion. The court determined that change of opinion alone does not constitute valid reasons to believe income escaped assessment, making the reopening notice invalid. Case-Laws Income Tax Thu, 08 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449458