https://www.taxtmi.com/caselaws?id=766228 The Delhi HC set aside reassessment proceedings initiated under section 148A(b) based on High Risk CRIU/VRU information regarding alleged bogus capital expenses from a fictitious entity. The court held that Revenue violated principles of natural justice by not providing the assessee an opportunity to respond to allegations about the entity's non-existence at the verified address. Despite conducting physical verification confirmed by a clarificatory letter, Revenue failed to issue further notice regarding the entity's alleged non-existence before passing the impugned order under section 148A(d). Since original assessment proceedings for AY 2018-19 were closed, proper procedure required putting incriminating material before the assessee before re-conferring jurisdiction on the AO. en-us Fri, 14 Feb 2025 00:00:00 +0530 Thu, 26 Mar 2026 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766228 The Delhi HC set aside reassessment proceedings initiated under section 148A(b) based on High Risk CRIU/VRU information regarding alleged bogus capital expenses from a fictitious entity. The court held that Revenue violated principles of natural justice by not providing the assessee an opportunity to respond to allegations about the entity's non-existence at the verified address. Despite conducting physical verification confirmed by a clarificatory letter, Revenue failed to issue further notice regarding the entity's alleged non-existence before passing the impugned order under section 148A(d). Since original assessment proceedings for AY 2018-19 were closed, proper procedure required putting incriminating material before the assessee before re-conferring jurisdiction on the AO. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766228