Fictitious transaction requires full-fledged investigations – Writ not maintainable

Accord Capital Markets Private Limited Vs ITO (Calcutta High Court)

By this writ petition, petitioner has challenged the impugned order dated 29^th July, 2022, under Section 148A(d) of the Income Tax Act, 1961 relating to assessment year 2015-16 mainly on the two grounds that the impugned order has been passed without approval from the specified Authority under Section 151 (ii) of the Income Tax Act, 1961 before passing the aforesaid impugned order under Section 1 48A(d) of the Act and secondly, on the ground that

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