Assessee-NRI, made an investment by purchasing certain equity shares of an Indian company through automatic route of FDI.  Subsequently, he sold said shares as per valuation under section 56(2)(vii) to six different persons due to commercial reasons.  Revenue issued a show-cause notice under section 148A seeking details from assessee with respect to his NRI identity and genuineness of transaction of sale of shares. Thereafter, an order under section 148A(d) was passed concluding that income chargeable to tax had escaped assessment. On writ the Court held that  the  assessee had furnished documentary evidences like passport, etc., for establishing that he was a non-resident Indian with a detailed reply and supporting documents. The order had been passed in complete disregard to details which were furnished by assessee, it was in breach of principles of natural justice. Accordingly  the matter was  sent back to concerned officer from stage where he committed serious error in not complying with statutory requirements. Accordingly the order passed under section 148A(d) was quashed and set-aside. (AY. 2015-16)