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M/s Hindustan Dorr Laser : We had done their liason work for the matters of this concern we were dealing with Mr. Shanbaug and Mr. P.G. Baxi. In addition to above we had exchanged on some occasions M/s Special Steel Ltd., Hindustan Dorr Lever Ltd.
From this statement there is nothing on record to show that the petitioners had allowed the two bogus firms run by the Joshis' to sell the steel procured by them and thereby earned any income based on which the notice under Section 147 (sic-s. 148) could have been issued.