A bench of Justice A.K. Sikri and Justice Ashok Bhushan refused to interfere with the Delhi High Court's order which had asked the firm, Sky Light Hospitality LLP, to join proceedings before the assessing officer.
Earlier in February the High Court had rejected the firm's plea challenging the Income Tax notice for re-assessment of its profits from land deals in Haryana and Rajasthan for the years 2010-11.
The firm had later moved the Supreme Court.
The High Court in its February 17 order while asking the firm to join proceedings took note of the tax evasion report and said: "After going through the reasons, we are satisfied that the 'reasons to believe' show and establish a live link and connect with the inference drawn that income had escaped assessment, which is required for issuance of notice."
The firm had argued that the 'reasons to believe' were mere reasons to suspect and do not establish that income had escaped assessment.
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.