AO passed order u/s. 148A(d) on the basis of information received that the assessee was one of the beneficiaries of cash transactions of one finance broker whose premises were searched. On  writ the  Court held that the Assessing Officer had thoroughly examined the information, decoded the data and hence,, it cannot be stated that the order passed under clause (d) of section 148 is a non-speaking order nor the order to be branded as outcome of non-application of mind. The Divisions Bench upheld the order passed by the Single Judge Bench on the ground that the Assessing Officer had passed well-reasoned order and the questions raised by the assessee involved disputed questions of facts. The Court also observed that there were several stake holders in the entire process which required deeper probe into the matter and such an exercise could not be done in exercise of writ jurisdiction.(AY. 2016-17)