9911796707
TMI Blog2024 (6) TMI 543X X X X Extracts X X X X X X X X Extracts X X X X ..... ies and on the basis whereof they proceeded to form the tentative opinion that income appeared to have escaped assessment. While responding to the aforesaid notice, all that the petitioner did was to call upon the respondents to produce the Suspicious Transaction Report [ STR ] or any other material on the basis of which those details may have been collated. In the reply there was neither a denial of the transactions having been entered into with M/s Metal Impex nor did the petitioner deem it appropriate to produce the GST invoices and other material which have been placed for our consideration along with the writ petition. Writ petitioner has failed to make out a case which may warrant interference under Article 226 of the Constitution. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f any) on the above mentioned issues on or before 29/03/2024 electronically at www.incometax.gov.in. xxxx xxxx xxxx ANNEXURE Background : - 1.1. The case of the assessee has been flagged as the potential case as per Risk Management Strategy formulated by the CBDT out of information uploaded on High Risk Transaction functionality of the Insight Portal. 2. Brief Facts: - 2.1 Return declaring income of Rs. 69.255 lakhs was filed on 25.10.2017. The same was processed under section 14(1)(a) on 02.03.2018. 2.2 Verification of STR in the case of M/s Metal Impex, Prop. Sh Naveen Tayal reveals that it is a shell entity and carrying out such high value transactions to provide accommodation entries to various beneficiaries including the abovementioned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . You are also required to provide a copy of the order of the relevant authority/court ordering merger/amalgamation. RAVINDER GUPTA CIRCLE 13(1), DELHI 4. As is manifest from the above, the respondents appear to have taken into consideration certain bank statements pertaining to M/s Metal Impex, Prop. Sh. Naveen Tayal [ Metal Impex ] with which the petitioner undisputedly had some dealings. It was alleged by the respondents that the aforesaid transactions were merely accommodation entries and on the basis whereof they proceeded to form the tentative opinion that income appeared to have escaped assessment. 5. While responding to the aforesaid notice, all that the petitioner did was to call upon the respondents to produce the Suspicious Trans ..... X X X X Extracts X X X X X X X X Extracts X X X X
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