https://www.taxtmi.com/caselaws?id=433428 The HC set aside the order under Section 148A(d) and the notice under Section 148 of the Income Tax Act, 1961, concerning alleged income escapement from a share purchase transaction. The court directed a de novo assessment by the AO, emphasizing the need to address whether the transaction was a capital account transaction and the applicability of Section 115A to the non-resident petitioner. The AO was instructed to provide a personal hearing, issue a detailed order, and consider the petitioner's objections, ensuring procedural fairness and adherence to legal standards. en-us Wed, 18 Jan 2023 00:00:00 +0530 Wed, 25 Oct 2023 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433428 The HC set aside the order under Section 148A(d) and the notice under Section 148 of the Income Tax Act, 1961, concerning alleged income escapement from a share purchase transaction. The court directed a de novo assessment by the AO, emphasizing the need to address whether the transaction was a capital account transaction and the applicability of Section 115A to the non-resident petitioner. The AO was instructed to provide a personal hearing, issue a detailed order, and consider the petitioner's objections, ensuring procedural fairness and adherence to legal standards. Case-Laws Income Tax Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433428