BARBRIK PROJECTS LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) By way of present writ petition filed under Article 226 of the Constitution of India, the petitioner seeks quashment of order (Annexure P/1(a) passed under Clause (d) of Sec. 148A of the Income Tax Ac,t, 1961 (for short, "the Act, 1961") and notice issued under Sec. 148 of the Act, 1961.

(2.) The brief facts as reflected from the record are that the petitioner is a domestic company and engaged in execution of civil construction works. It has filed income tax return for assessment year 2018-2019 on 26/3/2019 declaring the total income at Rs.43,14,13,840.00. It has also been stated that the company is maintaining regular books of account as per Companies Act, 2013 and also under Sec. 44AB of the Act, 1961 through independent auditor wherein the financial statement is also prepared. It has been contended that regular assessment for assessment year 2018-2019 was completed under Sec. 143 (3) of the Act, 1961 and total income was determined as per return determining demand payable at Rs. Nil. Thereafter, respondent No.4 has issued notice under Clause (b) of Sec. 148A of the Act 1961 on 24/3/2022 (Annexure P/5) wherein the Assessing Authority has mentioned about the credible information which is extracted below.

(3.) The petitioner has submitted reply to the notice vide Annexure P/6 denying the allegations made in the notice contending that the notice was issued for providing opportunity of hearing being heard with respect to income chargeable to tax has escaped assessment as denied that any fake invoices that was used the same and the same is utilized for input tax credit. The petitioner prayed for supply of credible information along with copy of the fake invoices and copy of approval of the specified authority. The Assessing Authority considering the submissions has passed the order under Sec. 148A(d) (Annexure P/1) on 31/3/2022 wherein the Assessing Authority has observed as under.