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2023 (3) TMI 103 - HC - Income TaxReopening of assessment u/s 147 - order of the selfsame u/s 148 A(d) - investigation wing had carried out a search action u/s 132 - HELD THAT:- There is no link of the assessee with the entire material, which had been found out during the search action. According to him, the booking had been done for the assessment year 2014-15 and on the strength of the rate card those rates cannot be thrust upon the petitioner when the entire transaction was through the Banking channel. Issue Notice, returnable on 17.01.2023. The assessment process can continue, however, no final assessment order shall be passed. We are expecting the respondent authority to file affidavit-in-reply and also point out a link in this case.
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