Delhi HC Quashes Reassessment Due to Erroneous Grounds in Notice

Shri Tarlochan Lal Goel Vs ACIT (Delhi High Court) Delhi High Court examined the writ petition of Shri Tarlochan Lal Goel challenging the reopening of his assessment for the Assessment Year (AY) 2011-12. The petitioner had filed his Return of Income (ROI) on 28.02.2012, which was processed under Section 143(1) of the Income Tax Act. However, the Assessing Officer (AO) issued a notice under Section 148 for reassessment on 30.03.2018, citing three issues: income from contracts, investment in bonds, and interest on refunds. The AO incorrectly believed that the petitioner had failed to file the RO...