JUDGMENT

Rajiv Shakdher, J. (Oral)

CM No. 23514/2023

1. Allowed, subject to just exceptions.

W.P.(C) 5998/2023 & CM APPL. 23513/2023 [Application filed on behalf of the petitioner seeking interim relief]

2. Issue notice.

2.1. Mr Ruchir Bhatia, learned senior standing counsel, accepts notice on behalf of the respondents/revenue.

3. In view of the directions that we propose to pass, Mr Bhatia says, that he does not wish to file a counter-affidavit in the matter, and that he will advance arguments, based on the record presently available with the Court.

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

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

6. The principal allegation against the petitioner is, that it has availed bogus loan from an entity going by the name LTE Info Technologies Private Limited [in short, "LTE"].

7. It is alleged by the respondents/revenue, that the petitioner has ostensibly taken bogus loan amounting to Rs.1,28,00,000/-.

8. This allegation is embedded in the notice dated 27.02.2023, issued to the petitioner under Section 148A(b) of the In