HC Nullifies ITAT Order on Information Sharing with SEBI, ED, MCA & ROC

Naresh Manakchand Jain Vs Registrar, Income-tax Appellate Tribunal (Bombay High Court)

The Bombay High Court recently rendered a crucial decision, quashing an order by the Income-tax Appellate Tribunal (ITAT) that directed the Assessing Officer (AO) to share information with SEBI, ED, MCA, and ROC. The case involves alleged bogus accommodation entries, money laundering, and a significant number of beneficiaries.

Background and Appeals: The petitioner, Naresh Manakchand Ja

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