JUDGMENT

Rajiv Shakdher, J. (Oral)

1. Issue notice.

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

2. Given the directions that we propose to pass, Mr Bhatia says that no counter-affidavit is required to be filed in the matter and he will rely on the record presently available with the court.

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

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

4. The record shows that the petitioner was issued a notice dated 05.03.2023 under Section 148A(b) of the Income Tax Act, 1961 [in short, "1961 Act"], with regard to the bogus purchases allegedly made by it from two suppliers i.e., Jatalia Global Ventures Ltd. [in short, "JGVL"] and RCI Industries & Technologies Ltd. [in short, "RCI"].

4.1. The value of the bogus purchases qua each of these suppliers was placed at Rs.21,00,24,258/-. The cumulative value of the transactions with these two entities was, thus, pegged at Rs.49,40,45,269/-.

4.2. It appears that as per the said notice, the petitioner was required to file its resp