https://www.taxtmi.com/caselaws?id=430713 The Court dismissed the writ petition seeking to quash the order under Section 148A(d) and notice under Section 148 of the Income Tax Act, 1961 for AY 2015-16. The petitioner's objections on grounds of limitation and lack of material were rejected. The Court emphasized the need for assessment/reassessment procedures under the Act, stating that factual disputes cannot be resolved through writ jurisdiction. The petitioner's failure to provide evidence for the share purchase transaction and involvement in accommodation entries led to the dismissal of the petition, with the Court directing the Assessing Officer to decide the matter based on its merits. en-us Thu, 17 Nov 2022 00:00:00 +0530 Fri, 11 Aug 2023 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430713 The Court dismissed the writ petition seeking to quash the order under Section 148A(d) and notice under Section 148 of the Income Tax Act, 1961 for AY 2015-16. The petitioner's objections on grounds of limitation and lack of material were rejected. The Court emphasized the need for assessment/reassessment procedures under the Act, stating that factual disputes cannot be resolved through writ jurisdiction. The petitioner's failure to provide evidence for the share purchase transaction and involvement in accommodation entries led to the dismissal of the petition, with the Court directing the Assessing Officer to decide the matter based on its merits. Case-Laws Income Tax Thu, 17 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430713