Allowing the petition the Court held that\u00a0 the only information which was supplied to the assessee while issuing notice under section\u00a0148A(b)\u00a0of the Act was that according to the information received from \u201dother Income-tax authority\u201d the assessee’s capital gains of Rs. 2,67,97,850 during the previous relevant assessment year 2018-19, was not shown properly in the Income-tax return. The notice under section\u00a0148A(b)\u00a0of the Act did not disclose as to what information was in fact there with the Assessing Officer suggesting that the capital gains during the assessment year 2018-19 was not shown in the return. Hence the notice dated March 14, 2022, issued under section\u00a0148A(b)\u00a0of the Act, the order dated March 31, 2022 passed under section\u00a0148A(d)\u00a0of the Act and the notice dated March 31, 2022 under section\u00a0148\u00a0of the Act were not valid and quashed.( AY.2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Information must be definite and not vague \u2013 Validity of notice can be challenged by filing writ petition .[ S. 147 , 148, 148A(b) 148A(d) , Art. 226 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-41390","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-aLA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=41390"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41390\/revisions"}],"predecessor-version":[{"id":41391,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41390\/revisions\/41391"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=41390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=41390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=41390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}