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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Delhi High Court Dismisses Challenge to IT Officer's Order u/s 148A(d) for 2016-17 Tax Reassessment.</h1> In a 2022 Delhi High Court case, petitioners challenged an Income Tax Officer's order under Section 148A(d) of the Income Tax Act 1961, related to the Assessment Year 2016-17, following a search on Trade next Securities Ltd. The petitioners were accused of benefiting from accommodation entries through dummy accounts, allegedly evading taxes. They contested the reassessment's validity, arguing the income was disclosed as Short Term Capital Gains and that the notice was issued beyond the statutory period. The court dismissed the petitions, emphasizing that factual disputes should be resolved by the Assessing Officer, not through writ proceedings. The Apex Court upheld this decision.
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