{"id":65459,"date":"2026-11-05T13:46:52","date_gmt":"2026-11-05T08:16:52","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ankit-agarwal-v-pcit-2026-487-itr-541patnahc\/"},"modified":"2026-11-05T13:46:52","modified_gmt":"2026-11-05T08:16:52","slug":"ankit-agarwal-v-pcit-2026-487-itr-541patnahc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ankit-agarwal-v-pcit-2026-487-itr-541patnahc\/","title":{"rendered":"Ankit Agarwal v. PCIT (2026) 487 ITR 541(Patna)(HC)"},"content":{"rendered":"<p>On writ, the Court held that the assessment order and demand notice were issued based on information from the Insight Portal that the assessee failed to file a return for the relevant assessment year and alleging deposits and certain transactions. On facts, no material to support the information.\u00a0 Reassessment proceedings based on false and wrong information furnished in the initial notice under section 148A(b). Assessing Officer disallowing claim of long-term capital gains, treating share transactions as bogus. Allowing the petition, the Court held that\u00a0 reassessment proceedings initiated based on incorrect information in the notice vitiated the notices and orders, which were quashed and set aside<strong>.<\/strong>(AY. 2015-16)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-After three years-Bar of limitation-Alleging deposits and certain transactions-No material to support information-Long-term capital gains-Share transactions as bogus-Reassessment proceedings initiated based on incorrect information in notice vitiated-Notices and orders quashed and set aside.[S. 147, 148A(b), 148A(d), 149(1), 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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-65459","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-h1N","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65459","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=65459"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65459\/revisions"}],"predecessor-version":[{"id":65460,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65459\/revisions\/65460"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=65459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=65459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=65459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}