2022 (4) TMI 245

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....r the Petitioner : DR. A SARAF For the Respondent : ASSTT.S.G.I ORDER Heard Dr. A Saraf, learned senior counsel for the petitioner. Also heard Mr. R K D Choudhury, learned ASGI for the respondent in the Income Tax Department. 2. Issue notice, returnable on 01.04.2022. 2. The order disposing of the objections filed against the notice under Section 148 of the Income Tax Act, 1961 (in short, the....

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...., the necessary information was provided. Accordingly, the proceeding under Section 143(3) of the Act was completed. 4. In the communication dated 18.02.2022 the reasons for reopening of the assessment against the petitioner in respect of the assessment year 2015-2016 provides that the information had been received through the insight portal of the department regarding fictitious losses in equity....