Assessee-company had filed return declaring loss.  Assessing Officer completed assessment under section 143(3). The  Assessing Officer issued on assessee a notice under section 148A(b) alleging that information uploaded on INSITE portal had surfaced that assessee had carried out transactions in penny script and booked fictitious losses  Assessing Officer passed an order under section 148A(d)  On writ the Court held that   the assessee in reply to notice had given evidence that information uploaded on INSITE portal was incorrect and infact assessee had made a profit Since Assessing Officer had not reflected on information submitted by assessee and passed orders suitably,  order under section 148A(d) and notice under section 148 were to be quashed and set aside.  (AY. 2019-20)