Bombay HC Quashed Assessment Order as No SCN Issued Under Section 69

Vivek Jaisingh Asher Vs ITO (Bombay High Court) The Bombay High Court examined a writ petition challenging an assessment order passed under Sections 143(3) read with 144B of the Income Tax Act for Assessment Year 2020–21. The petitioner had filed a return declaring income of ₹3,11,410, and the case was selected for scrutiny to examine capital gains deduction. A show cause notice dated 23 August 2022 was issued proposing to treat the stamp duty value of a flat received upon surrender of tenancy rights as deemed income under Section 56(2)(x) and to deny deduction under Section 54F. The petit...