https://www.taxtmi.com/caselaws?id=283876 The High Court, comprising S.C. Dharmadhikari and B.P. Colabawalla, JJ., found arguable questions in the Writ Petition challenging the show cause notice under Section 148 of the Income Tax Act, 1961. The Court admitted the petition, preventing the Assessing Officer from implementing the notice and rejecting the assessee's objections. An ad-interim order was issued, temporarily restraining the Assessing Officer from further action until the issues raised in the petition are resolved. The Court's detailed analysis of the transaction of shares and lack of substantial reasons in the response affidavit led to this outcome. en-us Mon, 22 Oct 2018 00:00:00 +0530 Sat, 19 Oct 2019 11:39:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283876 The High Court, comprising S.C. Dharmadhikari and B.P. Colabawalla, JJ., found arguable questions in the Writ Petition challenging the show cause notice under Section 148 of the Income Tax Act, 1961. The Court admitted the petition, preventing the Assessing Officer from implementing the notice and rejecting the assessee's objections. An ad-interim order was issued, temporarily restraining the Assessing Officer from further action until the issues raised in the petition are resolved. The Court's detailed analysis of the transaction of shares and lack of substantial reasons in the response affidavit led to this outcome. Case-Laws Income Tax Mon, 22 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283876