No notice should be issued under Section 148A(b) in absence of undeclared/unexplained income

Zoom Insurance Brokers Pvt. Ltd Vs ACIT (Delhi High Court) Conclusion: Amount of ₹82,25,822/- had already been disclosed in its return and books of account, could not be examined in writ jurisdiction. Whether the said sum represents a genuine brokerage transaction or a spurious/bogus entry was a matter of factual verification, which fell within the domain of the AO. Held: In the instant case, the grievance of assessee was directed against the impugned notices dated 24.03.2025 and 28.05.2025 issued under Section 148A(1); the order passed under Section 148A(3); and the consequential notice iss...