The Petitioner has filed a Writ Petition against order passed under Section 148A(d) and notice issued under Section 148 on the ground that both order and notice are without jurisdiction as income alleged to have escaped assessment is below jurisdictional requirement of Rs. 50 lakhs. The Petitioner claims to have paid Long Term Capital Gain and Short-Term Capital Gain while as per impugned order, amount of penny stocks sold amounting to Rs. 50,10,500/- has escaped assessment. The Court while disposing off the Writ Petition without interfering in the impugned order observed that the petitioner has failed to provide bifurcation between Long Term Capital Gain and Short-Term Capital Gain along with calculation of income furnished on record.  Writ petition was dismissed .  (AY. 2015 -16 )