Penny stock/accommodation entry – Reassessment notice must contain relevant documents 

Balesh Jain Sons HUF VS ACIT (Delhi High Court) 1. Present writ petition has been filed challenging the show cause notice dated 17th May, 2022 issued under Section 148A(b) of the Income Tax Act, 1961 [‘the Act’] as well as order dated 29th June, 2022 issued under Section 148A(d) of the Act for the Assessment Year 2014-15. 2. On 18th August, 2022, this Court had issued notice in the present writ petition. The relevant portion of the order dated 18th August, 2022 is reproduced hereinbelow:- “Learned counsel for the petitioner states that the Petitioner filed its return of income for the re...