2022 (3) TMI 1294

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....Mr.Neeraj Kumar Gupta, Advocate Respondent Through Mr.Zoheb Hossain, senior standing counsel with Mr.Vipul Agrawal and Mr.Parth Semwal, Advocates. J U D G M E N T MANMOHAN, J (Oral): 1. Present Petition has been filed seeking quashing of the impugned Show Cause Notices dated 23rd February, 2022 and 14th March, 2022 issued for the Assessment Year 2018-19. 2. As per the impugned Show ....

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.... of the above-mentioned property for calculation of capital gains under Section 45 of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') for the Assessment Year 2018-19. 3. It is further stated in the impugned Notices that several discrepancies were found in the share transactions by the Petitioner in the year under consideration and the Petitioner was asked to explain as to why th....

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....dent vide impugned Show Cause Notices dated 23rd February, 2022 and 14th March, 2022 is arbitrary, unreasonable, illegal and is being issued in total disregard to the facts of the case. 6. Upon perusal of the paper book, this Court finds it strange that though the property in question was mortgaged in favour of Yes Bank, yet the property in question was sold to a company in which the wife of th....