2022 (9) TMI 1148

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ents: Mr.Abhishek Maratha, Sr.Standing Counsel. JUDGMENT MANMOHAN, J (Oral): 1. Present writ petition has been filed challenging the show cause notice dated 17th May, 2022 issued under Section 148A(b) of the Income Tax Act, 1961 ['the Act'] as well as order dated 29th June, 2022 issued under Section 148A(d) of the Act for the Assessment Year 2014-15. 2. On 18th August, 2022, this Court....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....informed the authorities that he had had no dealing with Mr.Naresh Manakchand Jain and also submitted details regarding the income earned by him during the year under consideration as well as his bank statement. Learned counsel for the petitioner states that the impugned order dated 29th June, 2022 was issued under Section 148A(d) of the Act rejecting the contentions of the Petitioner on ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ekchand Jain and his several associates who had been instrumental in manipulating prices of several penny stock scrips on the stock exchange. 4. He further states that the name of the assessee appears in the list of beneficiaries (at Sr.No.7779) who had done transaction in such scrips during the financial year under consideration i.e. financial year 2013-14. He has also shown the list of benefi....