ARROW ALLOYS PVT. LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) THIS petition seeks quashing of order dated 20.12.2012 under Section 127 of the Income Tax Act, 1961 transferring the assessment cases of the petitioners from Guwahati to Delhi "for proper, coordinated and effective investigation as to their involvement on the issue of receipt of bogus share capital by Brahmaputra Group".

(2.) THE CIT, Central -II, New Delhi, vide letter dated 07.12.2012 stated that search operations under Section 132 of the Act were carried out in the Brahmaputra Group of Companies on 28.09.2010 on account of receipt of bogus share capital money from different companies. Names of the petitioners also figured in the said complaint. On that basis, assessment cases of the petitioners were proposed to be centralized with the DCIT, New Delhi, for investigation in respect of bogus share capital money received by the Brahmaputra Group.

(3.) WE have heard learned counsel for the parties.