AKIL KURESHI, J.

1. The petitioner has challenged a notice of reopening dated 31.3.2017 issued by the respondent Assessing Officer.

2. Brief facts are as under. The petitioner is a partnership firm and is engaged in the business of development of housing projects. For the assessment year 2010-2011, the petitioner had filed the return of income on 28.9.2010 declaring gross total income of Rs. 1.36 crores and after claiming deduction of Rs.1.10 crores under section 80-IB( 10) of the Income Tax Act, declared a total income of Rs.25.73 lacs. Such return was taken in scrutiny. The Assessing Officer raised multiple queries including calling for the details of housing projects completed by the assessee and the allotment of shops and houses in such complex. The petitioner duly complied with such questions. The Assessing Officer thereupon passed the order of assessment under section 143(3) of the Act on 27.11.2012.

3. To reopen such assessment, the Assessing Officer issued the impugned notice. In order to do so, he had recorded the following reasons :

“During the course of assessment Proceedings for the asst. year 2013-14, it was noticed that the assessee has sold flat no. 403 tower n