Concluded assessments cannot be reopened merely based on suspicion: Delhi HC

Sanjay Kaul Vs ITO (Delhi High Court) Delhi High Court held that concluded assessments cannot be reopened merely based on suspicion. Accordingly, reassessment quashed as there is no tangible material to form ‘reason to believe’ that income has escaped assessment. Facts- The Petitioner has filed the present petition under Article 226 read with Article 227 of the Constitution of India, impugning a notice dated 30.03.2019 issued by the Respondent No.1 under Section 148 of the Income Tax Act, 1961 in respect of Assessment Year 2014-15. By way of the present petition, the Petitioner has essent...