Case Law Details
Bharat Heavy Electricals Ltd. Vs PCIT (Delhi High Court)
High Court is of the view that it is highly unlikely that the petitioner i.e. Bharat Heavy Electricals Ltd. (BHEL) would be engaged in input tax credit fraud as alleged by the Respondents. Accordingly, till further orders, no action shall be taken in pursuance to the impugned order and notice dated 31st March, 2022.
FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT
Present writ petition has been filed challenging the order dated 31st March, 2022 passed under Section 148A(d) and notice dated 31st March, 2022 under Section 148 of the Income Tax Act, 1961 (for short the ‘Act’) for the Assessment Year 20 18-19.
Learned counsel for the petitioner states that Petitioner is a reputed PSU which has been awarded ‘Maharatna’ status in the past. He further states that the petitioner is under the direction supervision of Union Government and has strict internal controls. He states that the Petitioner had filed returned income of Rs. 1,707/- crores for the Assessment Year 2018- 19.)
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