RUBIX TRADING PVT. LTD. Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) By consent of the learned Counsel for the parties, the petition is taken up for hearing and final disposal.

(2.) The petitioner has challenged a notice of reopening of assessment dated 29.03.2018. Brief facts are as under :-

(3.) The petitioner is a company registered under the Companies Act and is engaged in the business of development of real estate projects. For the Assessment Year 2013-14, the petitioner had filed its return of income on 30.11.2013 declaring loss of Rs.3,87,662/-. The return was taken in scrutiny by the Assessing Officer. The Assessing Officer passed an order of assessment under Section 143(3) of the Income Tax Act, 1961 ("the Act" for short) on 19.01.2016 accepting the petitioner's declared income.