SONANSH CREATIONS PVT LTD vs ASSISSTANT COMMISSIONER OF INCOME TAX AND ANR.

Judgment text excerpt

IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 10.01.2025 + W.P.(C) 12316/2022 SONANSH CREATIONS PVT LTD. ..... Petitioner versus ASSISTANT COMMISSIONER OF INCOME TAX AND ANR. ..... Respondents Advocates who appeared in this case: For the Petitioners :Mr. C.S. Aggarwal, Senior Advocate with Mr. Ravi Pratap Mall and Mr. Uma Shankar, Advocates. For the Respondents :Mr. Sunil Agarwal, Mr. Shivansh B. Pandya, Mr. Viplav Acharya & Mr. Utkarsh Tiwari, Advocates. CORAM HON’BLE THE ACTING CHIEF JUSTICE HON’BLE MS. JUSTICE SWARANA KANTA SHARMA JUDGMENT VIBHU BAKHRU, ACJ 1. The petitioner has filed the present petition impugning a notice dated 01.06.2022 issued under Section 148A(b) of the Income Tax Act, 1961 (hereafter the Act); an order dated 30.07.2022 (hereafter the impugned order) passed under Section 148A(d) of the Act; and a notice dated 30.07.2022 issued under Section 148 of the Act seeking to reopen the petitioner’s assessment for the assessment year (AY) Signature Not Verified Digitally Signed By:GANGA SINGH RAWAT W.P.(C) No.12316/2022 Page 1 of 26 Signing Date:10.01.2025 19:22:43 2017-18. The said notices under Sections 148A(b) and 148 of the Act are hereafter also referred as the impugned notices. FACTUAL CONTEXT 2. The petitioner is a company incorporated in India. Prior to 30.09.2019, the petitioner was known as Sonali Realtech Pvt. Ltd. (hereafter Sonali). The impugned notices have been issued to initiate proceedings for re-assessment of income of M/s Tulsi Tracom Pvt. Ltd. (hereafter Tulsi). Tulsi was merged with the petitioner with effect from 01.04.2018 pursuant to an order dated 26.09.2019 passed by the National Company Law Tribunal (NCLT). As noted above, the petitioner was then known as Sonali. 3. Tulsi had filed its return of income on 30.