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2023 (1) TMI 1230 - HC - Income TaxReopening of assessment u/s 147 - order issued u/s 148A(b) - high value shares transaction/activities - HELD THAT:- No information has been furnished to the petitioner as to how income chargeable to tax has escaped assessment, and since the order passed u/s 148A(d) of the Act only suggests that the assessee has not established his credit worthiness and failed to prove the source of investment, we are of the view that the best way forward would be to set aside the impugned order passed u/s 148A(d) with the following directions: Assessing Officer will carry out a de novo exercise from the stage at which notice under Section 148A(b) is positioned. Before proceeding further, the AO will furnish the relevant information concerning the petitioner, after redacting information which concerns third parties.
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