2025 (11) TMI 52

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.... For the Petitioner Through: Mr Ruchesh Sinha, Ms Monalisa Maity, Ms Shilpa Chaudhary and Ms Upasna Vashistha, Advocates. For the Respondents Through: Mr. Gaurav Gupta, SSC, Mr. Shivendra Singh, JSC, Mr. Yojit Pareek, JSC, Ms. Prakriti Rastogi, Advocates. V. KAMESWAR RAO, J. (ORAL) 1. The petitioner has filed this petition with the following prayers:- "a) That this Hon'ble High ....

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....8 of the Income Tax Act 1961 and/or in any proceedings initiated thereunder for the A.Y 2019-20;" 2. In effect, the petitioner is challenging the impugned notice dated 29.03.2025 issued under Section 148A(1) of the Income Tax Act, 1961 (the Act) and order passed under Section 148A (3) and notice under Section 148 of the Act dated 30.06.2025. This case relates to the Assessment Year (AY) 2019-20....

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....139(1) of the Act declaring net taxable income of Rs.2,19,30,970/-. The case of the assessee was reopened in the month of March, 2023 u/s 148A on the identical issue and assessed at Rs. 25,02,16,448/- by NFAC u/s 147 r.w.s 144B vide order dated 17.03.2025. On perusal of the impugned order, your honor will appreciate that an addition of Rs.22,82,85,479/- has been made on account of alleged....

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....etween the assessee and impugned party for Rs. 27,72,53,102/-. Therefore, your honour is requested to provide us complete information in respect of impugned sum of Rs. 27,72,53,102/-. The assessee reiterates that there is no escapement of income as alleged in the notice as the transactions between the assessee and M/s. Mekaster Finlease Ltd. has already been held as accommodation entries ....