The HC set aside the order passed u/s 148A(d) and notice issued u/s 148, and remanded the matter to the...

The High Court annulled the order under Section 148A(d) and the notice under Section 148, remanding the case to the Assessing Officer for reconsideration. The court found the revenue's claim that the petitioner received cash to be incorrect, as the ledger indicated cash payment for supplies. The Assessing Officer failed to allege any banking transactions followed by cash returns. The court instructed the Assessing Officer to thoroughly evaluate the petitioner's statements and responses. .....

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