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2023 (1) TMI 419 - HC - Income TaxReopening of assessment u/s 147 - allegation against Assessee involved in the issuance of “fake/bogus invoices” - bogus purchase transaction with FFPL - HELD THAT:- Interestingly, entities and companies which FFPL appears to have provided accommodation entries not only includes the petitioner but certain public limited companies/PSUs such as Bharat Heavy Electricals Ltd., Indian Oil Corporation Ltd., HMT Machine Tools Ltd., Hindustan Shipyard Ltd., Hindustan Aeronautics Ltd., Hindustan Petroleum Corporation Ltd., Godrej and Boyce Manufacturing Company Ltd. and Larsen and Toubro Ltd. There is no material to suggest, that accommodation entries were provided by FFPL to these companies. We may also note, that in this particular case, notice u/s 148A(b) was issued even without conducting an enquiry, as required u/s 148A(a) of the Act.The said provision requires approval of the specified authority for conducting an enquiry. In our view, had such an enquiry been conducted before issuance of the notice, then the kind of flaws that have emerged, to which we have made a reference above, would not have, possibly, occurred. Instead of conducting an independent enquiry, the respondents/revenue relied upon the information supplied by the CGST authorities. Thus we are inclined to quash the impugned order dated 26.03.2022 passed under Section 148A(d) of the Act, as also the consequential notice dated 26.03.2022 issued under Section 148 of the Act. Decided in favour of assessee.
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