Assessee filed return of income under section 139(1). An intimation under section 143(1) was issued, accepting returned income. Thereafter, a notice under section 148A/148 was issued, after obtaining prior approval of CBDT. Notice indicated that information was flagged on ‘Insight Portal’ in accordance with Risk Management Strategy formulated by CBDT that assessee had made unaccounted transactions of investment which were not found genuine on basis of corroborative evidence and admission of a party. On writ it was contended that the  assessee had not been furnished information with all requisite details including name of party with whom he was said to have transacted and, therefore, there was a clear violation of requirement of principles of natural justice and also statutory requirement under law. Allowing the petition the Court held that    in absence of basic details of name of persons with whom assessee was said to have made unexplained transactions, no reply could have been given by assessee. Accordingly the  notice issued under section 148/148A and consequential proceedings pursuant thereto were  set aside.(AY. 2018-19)