Megbuild Developers Private Limited v. Income Tax Officer Ward - 17(1)

$~94 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 4812/2023 & CM APPL. 18540/2023 MEGBUILD DEVELOPERS PRIVATE LIMITED ..... Petitioner Through:

Mr. Anil Kumar Jain, Adv.

versus INCOME TAX OFFICER WARD - 17(1) ..... Respondent Through:

Mr. Abhishek Maratha, Sr.SC along with Mr. Parth Semwal, Jr.SC and Ms. Nupur Sharma, Adv.

CORAM:

HON'BLE MR. JUSTICE YASHWANT VARMA HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV

O R D E R

% 20.03.2024 1.

This writ petition has been preferred seeking the following reliefs:- "1.

Issue a writ of Certiorari or writ of mandamus or appropriate writ, direction or order a. To quash notice issued under section 148 dated 02/03/2023 of the Act.

2.

Pass any other Order that this Hon'ble Court may deem fit and proper in the interest of equity, justice and fair play." 2.

The challenge principally relates to the initiation of action under Section 148 of the Income Tax Act, 1961 ["Act"]. 3.

As is evident from the order passed under Section 148A(d) of the Act, the respondents have alluded to transactions between the petitioner/ assessee and one M/s Satsai Finlease Private Limited which is stated to be a shell company managed and operated by an entry operator.

4.

From the material which has been placed for our consideration The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/03/2024 at 11:29:45

by Mr. Maratha, learned counsel for the respondents, we find that M/s Satsai Finlease Private Limited is stated to have a paid up capital of INR 4 crores and is alleged to have advanced credit to the petitioner in excess of INR 3 crores.

5.

Bearing in mind the aforesaid, we are of the considered opinion that sufficient material existed for formation of opinion that income was likely to have escaped assessment.

6.

In view of the aforesaid, we find no merit in the challenge which stands raised and consequently, the writ petition fails and shall stand dismissed.

YASHWANT VARMA, J.

PURUSHAINDRA KUMAR KAURAV, J.

MARCH 20, 2024/MJ The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/03/2024 at 11:29:45