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2020 (1) TMI 563 - HC - Income TaxReopening of assessment u/s 147 - 'reason to believe' or 'reason to suspect' - objections of the petitioner were rejected by a non-speaking and cryptic order - information already available on record - HELD THAT:- Provisions of Section 147 confers the power upon the Assessing Officer to reopen an assessment and the said power has to be exercised only if there are reasons to believe that any income chargeable to tax has escaped assessment, meaning thereby, existence of the reasons and formation of the believe on the basis of such reasons, is an essential condition for invoking provisions of Section 147. The reasons to believe is not the same thing as the reasons to suspect as has been held in the case of Das Friends Builder Private Limited v/s DCIT [2005 (8) TMI 38 - ALLAHABAD HIGH COURT]. A similar view has been taken by the Delhi High Court in the case of Ashok Kumar Singh v/s CIT [1980 (7) TMI 41 - DELHI HIGH COURT] and in the case of CIT v/s Kelvinator India Limited [2002 (4) TMI 37 - DELHI HIGH COURT]. In the present case, there was no suppression on the part of the assessee and merely because there is a change in opinion, reopening could not have been done in the manner and method it has been done in the present case. There was no additional material for formation of the believe as contemplated under Section 147 - Decided in favour of assessee.
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