Deputy Commissioner Of Income-Tax, ... vs Sharada Erectors Private Limited, Pune on 24 March, 2026
30. We find the Co-ordinate Bench of the Tribunal in the case of Om Shriniwas
Developers vs. ITO (supra) has held that where the Assessing Officer issued
reopening notice on ground that the assessee had sold flats below market rate and,
thus, provisions of section 43CA were attracted and since reopening notice was
issued based on documents which were submitted by assessee during original
assessment proceedings and the Assessing Officer had not brought on record any
new facts, therefore reopening notice was nothing but a change of opinion which
was not permissible. The relevant observations of the Tribunal read as under: