“investigation wing”

Sirona Dental Systems Private Limited, Mumbai vs. ACIT, Circle 14(1)(2), Mumbai

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI OMKARESHWAR CHIDARA ( (Accountant Member)

which was claimed to be exempt under Section 10(38) of the Act. The Assessing Officer took into consideration the report of the Investigation Wing and thereafter, recorded the statement of the Assessee under Section 131 of Act. Sequent thereto, a show cause notice, dated 12/12/2017, was issued ... vacuum, especially when dealing with a large- scale, orchestrated scheme. The statements of Shri Anil Agarwal (the operator) and others were recorded by the Investigation Wing and were not merely hearsay but formed part of a larger investigation report that uncovered a specific modus operandi. The Assessee's transaction perfectly

Income Tax Officer, Mumbai vs. Deepak Govindbhai Gangani, Mumbai

Bench: Shri Narender Kumar Choudhryassessment Year: 2012-13

Revenue’s appeal. However, considering the case on merits, it is observed that according to the Assessing Officer (AO), as per information received from Investigation Wing, Mumbai to the effect that the Assessee has transacted in a penny stock scrip M/s. Aarya Global Shares Securities Ltd. and M/s. Exelon Infrastructure

M/S Shah Traders, Mumbai vs. Commissioner of Income Tax-(Appeals) NFAC, Mumbai

In the result, the appeal by the assessee is allowed for statistical purposes

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhailm/S. Shah Traders, Dw-6251, Bharat Diamond Bourse, Bandra Kurla Complex, G-Block, Bandra East Mumbai – 400051 ............... Appellant Pan : Aabfs6536J V/S Dcit, Circle – 19(3), Piramal Chamber, Lalbaug Parel, ……………… Respondent Mumbai - 400012

stating that the transactions are only paper transactions that the appellant has taken accommodation entries, by merely relying on the information received from investigation wing and without conducting any independent enquiry. The Learned CIT further erred in not considering the decisions of various High Courts and Tribunals cited ... return filed by the assessee was processed under section 143(1) of the Act. Subsequently, the information was received from the Investigation Wing, Mumbai regarding survey action under section 133A of the Act conducted in the case of M/s Swastik Corporation, during which statement of the proprietor of the aforesaid

DCIT, Central Circle - 7(1), Mumbai vs. Supreme Holdings and Hospitality (India) Limited, Pune

In the result, appeal of the Revenue and Cross Objection of the assessee are dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Letter of Credit without any credentials at the time of Bill Discounting or for any other purpose, but nowhere there is any finding of investigation wing or any material found or statement during the search, that some unaccounted money has been given by the assessee company to 19 ITA No.1437/Mum/2024

Tejash Ramesh Shah, HUF, Mumbai vs. ITO 25 (3) - 1, Mumbai

In the result, the appeals of the assessee bearing ITA Nos

Bench: Shri Anikesh Banerjee & Miss Padmavathy S.

heard the parties and perused the record. We notice that the assessing officer has primarily placed reliance on the report given by the Investigation wing of the Income tax department, Kolkatta in order to arrive at the conclusion that the long term capital gains reported by the assessee in both ... years is bogus in nature. We notice that the investigation report prepared by Investigation wing, manipulation of prices of certain shares and generation of bogus capital gains. We notice that the AO has placed reliance on the said report without bringing any material on record to show that the transactions

Parag Motilal Savla, Mumbai vs. Assessing Officer, NFAC, Delhi

In the result, the assessee’s appeal is partly allowed

Bench: SHRI BR BASKARAN (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

income on 26.09.2013 for A.Y. 2013-14, declaring total income of Rs. 29,13,171/-. On the basis of an information uploaded by the investigation wing of the department, it came to the notice of learned assessing officer that a search and seizure action ... issue of the notice u/s 148 dt. 31.03.2021, only on the basis of information received from the Investigation Wing, of the Income Tax Department, without there being any independent and valid reason to believe that any income chargeable to tax had escaped assessment and therefore the re-opening of assessment

Pravin Harchandrai Agarwal (HUF), Bhiwandi vs. Income Tax Ward 1(1), Kalyan

In the result, the assessee succeeds in the present appeal

Bench: Shri Narender Kumar Choudhryassessment Year: 2011-12 Shri Sanjay Haresh The Income Tax Officer, Mulchandani Ward, 19 (3) (1), 4-C Ajanta Apartments, M L Vs. Piramal Chamber, Dhanukar Marg, Peddar Road, Mumbai – 400013. Mumbai – 40026 Pan – Aadpm 3393 B (Appellant) (Respondent) Present For: Assessee By : Shri Harsh Kapadia & Nitin Khinchi, Ld. Ars Revenue By : Shri Sandeep Jumale, Ld. Sr. Dr Date Of Hearing : 20.11.2025 Date Of Pronouncement : 30.12.2025 O R D E R Per : Narender Kumar Choudhry: This Appeal Has Been Preferred By The Assessee Against The Order Dated 08.07.2025, Impugned Herein, Passed By The National Faceless Appeal Centre (Nfac)/Ld. Commissioner Of Income Tax (Appeals) (In Short Ld. Commissioner) U/S 250 Of The Income Tax Act, 1961 (In Short ‘The Act’) For The A.Y. 2011-12. 2. In The Instant Case, The Assessee Along With His Uncle Had Purchased A Flat In Iscon Platinum, Ahmedabad On A Consideration Of Rs. 59,30,000/- Through Cheques. Subsequently, Search Under Section 132 Of The Act Was Conducted By The Investigation Wing, In The Case Of Jp Iscon

Platinum, Ahmedabad on a consideration of Rs. 59,30,000/- through cheques. Subsequently, search under Section 132 of the Act was conducted by the Investigation Wing, in the case of JP ISCON 2 Shri Sanjay Haresh Mulchandani Group and related Assessee, wherein certain incriminating documents /evidences were seized in respect

Ajay Shankarlal Bankda HUF, Mumbai vs. ITO-41(4)(1), Mumbai

In the result, appeal of the Revenue is dismissed and appeal of the assessee is partly allowed

Bench: SHRI B.R. BASKARAN (Accountant Member), SHRI ANIKESH BANERJEE (Judicial Member)

here that statement of Jatin Shah that diary belongs to him and all the transaction recorded therein pertains to him was accepted by the Investigation Wing. 8. The case of the assessee before the ld. AO as well as before the First Appellate Authority was that, firstly, Shri Jatin Shah ... arrangement of such transactions, he was receiving a certain percentage of brokerage/commission in cash However, in order to buy peace of mind before the investigation wing, Shri Jatin Shah has offered income on account of the said diaries on peak credit basis of Rs. 49.35 Crores. The year wise segregation