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TMI Blog2022 (10) TMI 548X X X X Extracts X X X X X X X X Extracts X X X X ..... Petitioner: Mr.Salil Kapoor, Advocate with Mr.Sumit Lalchandani, Mr.Vibhu Jain and Ms.Ananya Kapoor, Advocates. Respondents: Mr.Puneet Rai, Sr.Standing Counsel. JUDGMENT MANMOHAN, J (Oral): C.M.No.40737/2022 (exemption) Allowed, subject to all just exceptions. Accordingly, the application stands disposed of. W.P.(C) No.13404/2022 & C.M.No.40705/2022 1. Present writ petition has bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was issued a letter dated 26th May, 2022 under Section 148A(b) of the Act alleging that STPPL had advanced a sum of Rs.15 Crore to M/s Wave One Pvt. Ltd. despite there being no revenue earned by the assessee during the concerned year. 4. He states that the Petitioner filed a reply dated 9th June, 2022 explaining that the payment in question had been made by STPPL from the unsecured loan that it h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s dated 9th June, 2022 and 28th June, 2022. 8. Since the impugned order and the notice issued under Section 148 of the Act are non-reasoned, the same are set aside and the matter is remanded back to the Assessing Officer for a fresh consideration under Section 148A(d) of the Act. The Assessing Officer shall pass a fresh reasoned order in accordance with law within eight weeks. This Court clarifie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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