https://www.taxtmi.com/caselaws?id=457022 Delhi HC set aside reassessment order u/s 148A(d) and notice u/s 148 in case involving alleged bogus LTCG from penny stock trading. Court found petitioner was sufficiently informed about reassessment basis regarding Mahanivesh scrip transactions, but AO failed to provide detailed Investigation Wing report despite petitioner's request. HC held this denied effective opportunity to respond to findings about transactions with Allied Nippon Limited and Lawrence Cold Storage Pvt. Ltd. Matter remanded with direction for petitioner to file additional reply within two weeks, and AO to pass fresh order u/s 148A(b) within eight weeks thereafter. en-us Wed, 28 Sep 2022 00:00:00 +0530 Sat, 31 Aug 2024 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457022 Delhi HC set aside reassessment order u/s 148A(d) and notice u/s 148 in case involving alleged bogus LTCG from penny stock trading. Court found petitioner was sufficiently informed about reassessment basis regarding Mahanivesh scrip transactions, but AO failed to provide detailed Investigation Wing report despite petitioner's request. HC held this denied effective opportunity to respond to findings about transactions with Allied Nippon Limited and Lawrence Cold Storage Pvt. Ltd. Matter remanded with direction for petitioner to file additional reply within two weeks, and AO to pass fresh order u/s 148A(b) within eight weeks thereafter. Case-Laws Income Tax Wed, 28 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457022