Validity of reopening of assessment - need for a direct link between the portal's information and the income allegedly escaping assessment

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....nder Section 148. Key Issues * Challenged Income Tax Order: The petitioner challenges an order and notice related to transactions specified in an annexure, claiming that the transactions led to income escaping assessment. * Basis of Notice: The Income Tax Department based its notice on information obtained from the Insight Portal as part of its risk management strategy. * Allegations ....

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....ransactions and gifts alleged by the petitioner, which were crucial for assessing the income. * Discrepancies in Show Cause Notice and Order: The court found discrepancies between the show cause notice and the impugned order, particularly regarding the differential sum assessable under Section 56(2)(vii)(b) of the Income Tax Act. * Quashing of the Impugned Order: The court quashed the impu....