https://www.taxtmi.com/caselaws?id=428801 The Court upheld the Revenue's reassessment proceedings under Section 148A(d) of the Income Tax Act, 1961 for AY 2016-17, initiated based on new information regarding alleged bogus share capital transactions. The Court emphasized the need for the Assessing Officer to examine the genuineness of the transactions involving M/s BDR Builders and Developers Pvt. Ltd. The petitioner's challenge was dismissed as the Court found no arbitrariness in the reassessment process, highlighting the importance of following statutory procedures and refraining from seeking relief through writ jurisdiction unless under exceptional circumstances. en-us Fri, 09 Sep 2022 00:00:00 +0530 Mon, 10 Oct 2022 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428801 The Court upheld the Revenue's reassessment proceedings under Section 148A(d) of the Income Tax Act, 1961 for AY 2016-17, initiated based on new information regarding alleged bogus share capital transactions. The Court emphasized the need for the Assessing Officer to examine the genuineness of the transactions involving M/s BDR Builders and Developers Pvt. Ltd. The petitioner's challenge was dismissed as the Court found no arbitrariness in the reassessment process, highlighting the importance of following statutory procedures and refraining from seeking relief through writ jurisdiction unless under exceptional circumstances. Case-Laws Income Tax Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428801