Court Finds New Evidence of Share Price Manipulation by Mahanivesh Ltd; No Writ Jurisdiction Interference Needed.

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....Reopening of assessment u/s 147 - Thus this Court is of the view that despite lapse of four years and a scrutiny assessment, there is fresh tangible material in the present case in the form of information of beneficiaries of bogus LTCL/STCL report prepared by the office of Deputy Director of Income Tax (Investigation) which reveals that Mahanivesh (India) Ltd. is a penny stock whose share price was manipulated in trade by way of a complex web of pre-arranged or artificial transactions to book long term/short term capital gain/loss to the beneficiaries. - this Court is of the view that the matter requires no interference in writ jurisdiction - HC....