Assessee-company, a resident of Singapore, made investment in equity shares of its Indian subsidiary. Assessing Officer issued notice under section 148A(b) on ground that source of funds with regard to said investment was not explained. Assessee placed before Assessing Officer, documents, with regard to investment, however, Assessing Officer was not convinced and proceeded to pass order under section 148A(d). On writ allowing the petition the Court held that  investment in shares in Indian subsidiary could not be treated as ‘income’ as same was in nature of ‘capital account transaction’ not giving rise to any income-Held, yes-Whether therefore, impugned notice issued under section 148A(b) and  order passed under section 148A(d) is   quashed. (AY. 2019-20)