https://www.taxtmi.com/caselaws?id=764445 The HC dismissed the petition, affirming that the petitioner was given sufficient time to respond to the notice under Section 148A(b) of the Income Tax Act, as the statutory period includes all days, not just working days. The court upheld the issuance of the notice under Section 148, finding it justified based on credible information that income had escaped assessment through transactions with a non-genuine entity. Additionally, the court agreed with the Assessing Officer's assessment that the transactions in question were not genuine, as the petitioner failed to demonstrate the movement of goods, supporting the inference of accommodation entries. en-us Mon, 16 Dec 2024 00:00:00 +0530 Fri, 10 Jan 2025 08:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764445 The HC dismissed the petition, affirming that the petitioner was given sufficient time to respond to the notice under Section 148A(b) of the Income Tax Act, as the statutory period includes all days, not just working days. The court upheld the issuance of the notice under Section 148, finding it justified based on credible information that income had escaped assessment through transactions with a non-genuine entity. Additionally, the court agreed with the Assessing Officer's assessment that the transactions in question were not genuine, as the petitioner failed to demonstrate the movement of goods, supporting the inference of accommodation entries. Case-Laws Income Tax Mon, 16 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764445