W.P. (C) 1393/2002 Page 1 of 28
2. By an order dated 26th November 2002, the Court directed that the
proceedings in terms of the abovesaid notice under Section 148 of the Act
may continue before the Assessing Officer („AO‟) but no final order shall
be passed during the pendency of the writ petition.
3. The Petitioner was earlier a partner of M/s. Rangwala Enterprises. The
other partner was Ms. Ritu Rangwala. The business of the firm was taken
over by the Petitioner as a sole proprietor on 1 st December 1998 as a
going concern with all its assets and liabilities. It is stated that the
Petitioner was also a deriving income from letting out of property, i.e.,
Flat at G-4, Arunachal, 19, Barakhamba Road, New Delhi in which the
Petitioner has 47% share. Besides, the Petitioner has also income under
head long term capital gains and other sources like interest from savings
bank account and others.
Source: Indian Kanoon