JUDGMENT :

ASHOKKUMAR C. JOSHI, J.

1. This petition, under Article 226 of the Constitution of India, is filed by the petitioner – Priya Blue Industries Private Limited – assessee seeking to quash and set aside the Notice dated 30.03.2019 issued by the respondent authority under section 148 of the Income Tax Act, 1967 (herein after referred to as “the Act”) for the Assessment Year 2012-13, as it has reason to believe that the income chargeable to tax for the assessment year under consideration has escaped assessment within the meaning of section 147 of the Act.

2. The facts in nutshell of the case of the petitioner are that the petitioner is a Company incorporated under the Companies Act, 1956 and engaged in the business of ship breaking. During the Financial Year 2011-12, relevant to Assessment Year 2012-13 (i.e. the year under consideration), the petitioner made total sales of Rs.26,266.19 lakh, which included the sales made to M/s. Harsh Enterprise also for which, the entire sales proceeds were received during the year under consideration. The same was duly reflected in the Audited Annual Accounts. The case of the petitioner for the year under consideration was selected for scrutiny