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TMI Blog2022 (10) TMI 298X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessment year 2018-19 - HELD THAT:- As it is the petitioner s case that all the high value transactions have been reported by the petitioner in its return of income and is willing to place on record the sale/purchase deed before the Assessing Officer, this Court sets aside the impugned order passed u/s 148A(d) of the Act as well as the notice issued under Section 148 and remands the matter ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Present writ petition has been filed challenging the order dated 21st April, 2022 passed under Section 148A(d) of the Income Tax Act, 1961 ('the Act') along with notice dated 21st April, 2022 issued under Section 148 of the Act for the assessment year 2018-19 and proceedings initiated pursuant thereto. 2. Learned counsel for the Petitioner states that the Respondent initiated the proceedings und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ested the Respondent to provide details about the said transaction. 4. Issue notice. Mr.Sanjay Kumar, learned counsel for the respondents-revenue, accepts notice. He states that the petitioner had not provided sale/purchase deed to the Assessing Officer and had not explained the transaction qua the amount of Rs.3,79,08,575/-. 5. In rejoinder, learned counsel for the petitioner states that the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inding with regard to this fact at least in the order passed under Section 148A(d) of the Act. Further, as it is the petitioner's case that all the high value transactions have been reported by the petitioner in its return of income and is willing to place on record the sale/purchase deed before the Assessing Officer, this Court sets aside the impugned order passed under Section 148A(d) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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