2026 (1) TMI 1037

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....- 30/11618/2015-16) arising out of the common order dated 31.03.2024 passed u/s 147/144 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') by the ACIT, Cc-32, New Delhi for AYs: 2016-17 & 2019-20. ITA No. 4384/Del/2025 (AY: 2016-17) 2. Hearing both the sides we find that the assessee now questions the notice u/s 148 dated 31.03.2023 alleging same is outcome of non application of mind and for that as a matter of fact we find that in the notice AO mentioned "I have information that a search was initiated under section 132 of the Act in your case or in the case of the person in respect of which you are the assessable under the Act on the date 17/09/2021. This notice is being issued after obtaining the pr....

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....mentioned hereunder: 1. As per information available with department, assessee has taken loan from M/S CEAConsultants Pvt. Ltd amounting to Rs. 1,00,00,000/- during the F. Y. 2018-19. Creditworthiness and genuineness of the transaction need to be verified." 5. Notably this show cause notice only seeks to make 'verification' in garb of reopening u/s 148 of the Act and nowhere talks of any search action or allegation of purported accommodation entry. 5.1 Impugned order passed u/s 148A(d) of the Act narrates as follows; "In this case, information related to M/s Optus Developers Pvt Ltd for F.Y. 2018-19 was communicated through Insight Portal to this office which was forwarded by the office of DDIT/ADIT(Inv), Un....