ONIR Infraspace Private Limited Vs ITO (Gujarat High Court)
The petitioner, ONIR Infraspace Private Limited, challenged notices and an order issued by the respondent under Sections 148A(b), 148A(d), and 148 of the Income Tax Act, 1961, before the Gujarat High Court under Article 226 of the Constitution of India. The petitioner is a company incorporated on 17 October 2019 and filed its income tax return for the Assessment Year (AY) 2020-21 on 27 November 2020, declaring total income of ₹2,58,250, which was processed under Section 143(1) on 28 March 2021, accepting the return.
Read SC Judgment: Section 148A(b) Notice Cannot Be Used to Collect Information: SC
On 5 March 2024, the respondent issued a notice under Section 148A(b) requiring the petitioner to furnish information regarding the source, genuineness, and creditworthiness of persons who provided loans to the petitioner. The petitioner filed a detailed reply on 16 March 2024, objecting to the validity of the notice, arguing that it did not disclose any escaped income but instead appeared to be an inquiry under Section 148A(a). Despite this, the respondent rejected the objection under Section 148A(d) on 24 March 2024 and issued a consequential notice under Section 148 for reopening the assessment.
