2007 (5) TMI 184 - DELHI HIGH COURT

AO issued reassessment notice u/s 148 merely on basis of information that assessee had taken a bogus entry of capital gains by paying cash along with some premium for taking a cheque for that amount – information neither indicate the source of capital gains, nor shares which were transferred – Correctness of information not verified by AO before issue of notice – there is no reason to believe to issue reassessment notice, so action of AO was not sustainable