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TMI Blog2023 (3) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... ratha, SSC IT Department, for respondent/revenue O R D E R CM APPL. 3180/2023 1. Allowed, subject to just exceptions. W.P.(C) 831/2023 and CM APPL. 3179/2023 [Application filed on behalf of the petitioner seeking interim relief] 2. Issue notice. 2.1 Mr Abhishek Maratha accepts notice on behalf of the respondent/revenue. 3. In view of the directions that we propose to pass, Mr Maratha says t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ice dated 30.05.2022, is not aligned with the impugned order dated 19.07.2022. 7. A perusal of the impugned notice issued under Section 148A(b) of the Act is indicative of the fact that qua the petitioner, two principal allegations were raised. (i) First, he had taken a fictitious loan in FY 2015-16, amounting to Rs.18,35,000/- from an accommodation entry provider, one Mr Jignesh Shah. (ii) S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d not dealt in shares of unlisted companies. (ii) Two, the petitioner had bought 8000 equity shares of an entity going by the name of Shilpi Cables Technologies Limited on 21.01.2016 @ Rs.50 per share. (iii) Three, in addition, thereto, the petitioner had brought 12,500/- equity shares of another entity, namely, Delta Corp Limited on 29.02.2016, for Rs.49 per share. (iii) Lastly, the shares ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the rate of 15% under Section 111A of the Act, in AY 2017-18. 9. It is not in dispute that insofar the explanation offered by the petitioner that it had not entered into any transaction with Mr Jignesh Shah is concerned, it had been accepted. 9.1. However, in the impugned order, the Assessing Officer (AO) seems to have completely gone off the rails i.e., in a completely different direction, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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