Cut the pumpkin into bite-sized pieces and keep aside.
Heat the mustard oil to the smoking point. Let it cool a bit. Deep fry the pumpkin pieces on high heat until golden. Remove and keep aside.
In the same oil, add asafoetida, cloves, black cardamom, cinnamon, and cumin seeds. Allow them to crackle.
Turn off the heat. Add in the Kashmiri red chilli powder and mix. Add ½ cup water to stop the chillies from burning.
Turn the heat back on. Add in the turmeric powder and mix.
Next, add well-beaten curd and mix well.
Now add in the fennel powder and dry ginger powder. Cook for a few minutes.
Add the pumpkin pieces and salt. Add 1 cup water and mix well. Bring to a boil. Cook on medium to high heat until done.
Check the salt and add more if required. Adjust the gravy as per your taste.
The Kashmiri-style ash gourd is ready to serve. Serve hot with boiled rice or parathas.