JUDGMENT

[Physical Hearing/Hybrid Hearing (as per request)]

Rajiv Shakdher, J. (Oral)

CM No.28352/2023

1. Allowed, subject to just exceptions.

W.P.(C) 7297/2023 and CM No.28353/2023[Application filed on behalf of the petitioner seeking interim relief]

2. Issue notice.

3. Mr Aseem Chawla, learned senior standing counsel, accepts notice on behalf of the respondents/revenue.

4. Given the direction that we propose to issue, Mr Chawlasays that he does not wish to file a counter-affidavit in the matter, and he will argue the matter, based on the record presently available with the Court.

5. Therefore, with the consent of the counsel for parties, the writ petition is taken up for hearing and final disposal, at this stage itself.

6. This writ petition concerns Assessment Year (AY) 2019-20.

7. Via this writ petition, challenge has been laid to the order dated 07.04.2023 passed under Section 148A(d) of the Income Tax Act, 1961 [in short, "Act"].

7.1. Besides this, challenge is also laid to the consequential notice of even date i.e., 07.04.2023 issued under Section 148 of the Act.

8. The principal allegation levelled against the petitioner is, that it has entered into fictitious transact