1. The petitioner, a private Limited Company engaged in jewellery business, has filed this writ petition seeking to quash Exts.P6 series notices issued by the first respondent. The short facts are as under;
The petitioner receives old gold brought for exchange by its customers as part of its business. In order to assess the value of the old gold, it has to be melted and purified. For this purpose, the petitioner had entered into job work agreements with goldsmiths. Payments for the above activity were made through banking channels, after deducting the tax at source. While so, on 10.01.2018, a search and seizure under S.132 of the Income Tax Act was conducted at various premises of the petitioner. Consequently, proceedings under the Prohibition of Benami Property Transactions Act, 1988 ('the Act') was initiated alleging that eight goldsmiths engaged by the petitioner were actually functioning as benami entities of the petitioner. On initiation of the proceedings, the second respondent passed a provisio