2023 (6) TMI 620

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....TARUN GULATI, SENIOR ADVOCATE FOR SRI. AJAY J N, ADVOCATE RESPONDENTS: SRI. K.V. ARAVIND, ADVOCATE ORDER The petitioner has called in question the correctness of the order at Annexure-B dated 31.3.2023 passed by respondent No.1 under Section 148 of the Act along with the impugned order dated 31.3.2023 at Annexure-A passed under Section 148A(d) of the Income Tax Act, 1961 (hereinafter refe....

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....es not amount to income and has also submitted that the table further points out that the transactions at Sl.Nos.3,4, 5 and 7 of the table are pure reimbursement of the expenditure incurred and does not constitute income of the assessee while transaction at Sl.No.2 is refund of excess share application money and does not constitute income of the assessee. It is further pointed out that the transac....

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....le to tax'. 5. Perused the impugned order passed under Section 148A(d) of the Act and the reasons at paragraph(7). Clearly there is no consideration of the replies at Annexures G and J. The impugned order is passed stating that there are no details furnished with regard to source of remittances and purchases. However, a bare perusal of the table which is a part of the reply at Annexure &#39....