Allowing the petition the Court held that, no material or report produced which was basis for information to reopen assessment-Order and notice quashed and set aside. Department given liberty to furnish additional materials in support of allegations made in show-cause notice and proceed in accordance with law. (AY.2018-19)
BEST Buildwell Pvt. Ltd. v ITO (2022) 447 ITR 26 / 216 DTR 454 / 288 Taxman 670 (Delhi)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-No material or report produced which was basis for information to reopen assessment-Order and notice quashed and set aside-Department given liberty to furnish additional materials in support of allegations made in show-cause notice and proceed in accordance with law. [S. 147, 148, 148A(b), 148A(d), Art. 226]