HC Directs Fresh Adjudication for Reassessment on Alleged Bogus Purchase

Rajnish Yadav Vs ITO (Delhi High Court) Introduction: In a significant ruling, the Delhi High Court has directed a fresh adjudication in the case of Rajnish Yadav Vs ITO. The Income Tax Department alleged that Yadav benefited from accommodation entries provided by one Mr Sanjay Jain and made bogus purchases, which totalled up to Rs. 11,98,577/-. The crux of the case lies in a notice issued under Section 148A(b) of the Income Tax Act, 1961, for which the court found that relevant material had not been supplied to Yadav, hampering his ability to respond effectively. Analysis: This judgment reemp...