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Merely stating in show cause notice u/s148A(b) that there are fictitious or bogus transactions relying on some suspicious transaction report without mentioning complete detail would make such notice bad and also illegal as per law for an AO to proceed further with notice u/s 148 vide (2023] 22 ITR-OL 679 (Guj). So long as the details are not complete and proper it is always a prerogative of the taxpayer to question such notice and reopening. In this case the AO issued the following show cause notice u/s148A (b): “ the information uploaded in the insight portal and flagged as high risk transaction, an inquiry was carried out in the case of the petitioner and it was found that the assessee has entered into fictitious transactions of bogus purchases amounting to Rs. 69.61 crores (rounded off) for the financial year 2017-18 relevant to the assessment year 2018-19. On verification of documents available on record, it is noticed that the assessee-company had made this transaction. In view of these information, show-cause notice was issued as to why the notice under section 148 be not issued.” The Court quashed the notice and the order and further directed the AO to provide the details of 69.61 crs. Also the AO cannot assume that the assessee was aware of the transaction details no matter whatsoever as in this case the investigation may have shared such details earlier to his knowledge .

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