Illegal transfer of PAN – Prima–facie evidence exist against CCIT: HC

Anup Kumar Lakhotia Vs Union of India (Jharkhand High Court) The learned court below found that exercise of power u/s 264 of I.T. Act as well as transfer of PAN were used with malafide and ill intention and thus there is sufficient material against this accused petitioner for the purpose of framing of charge for the alleged offence. Thus, the materials which been collected during investigation prima-facie reveal that the assessment orders resulting in huge addition of income interalia, against the companies of the petitioner on account of unverifiable investors in the companies through shell c...