Case Law Details
Riya Gangwani Vs ACIT (Delhi High Court)
Introduction: The Delhi High Court (HC) dealt with a writ petition filed by Riya Gangwani against the Assistant Commissioner of Income Tax (ACIT) pertaining to the Assessment Year (AY) 2019-20. The matter revolved around reassessment notices and an order passed without proper consideration of the assessee’s replies. The Court’s intervention led to a critical ruling, setting aside the order in question.
Analysis:
1. Sequence of Events: The petitioner received two notices under Section 148A(b) of the Income Tax Act and responded to both. Despite providing the required documents, the Assessing Officer (AO) recorded that no response was received.
2. Principal Allegation: The case against Gangwani was based on fictitious transactions involving the purchase of shares and being a beneficiary of an accommodation entry.
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