Delhi HC Directs AO to Furnish Evidence in Bogus Sales Case

Amit Gupta Vs ACIT (Delhi High Court) Delhi High Court has issued a notice in a writ petition challenging a reassessment order and notice under Sections 148A(d) and 148 of the Income Tax Act, 1961, for Assessment Year 2018-19. The case, involving petitioner Amit Gupta against the Assistant Commissioner of Income Tax (ACIT), centers on allegations of the petitioner engaging in bogus sales and subsequently returning cash to purported buyers. While allowing the Assessing Officer (AO) to continue with the assessment proceedings, the High Court has stipulated that any adverse order shall not be giv...