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“investigation wing”

ReassessmentSection 147Section 14712,584 judgments

The decision most relied on for investigation wing is PCIT v. RMG Polyvinyl (I) Ltd. (396 ITR 5), cited in 272 judgments on BharatTax.

Leading authorities on investigation wing

PCIT v. RMG Polyvinyl (I) Ltd.
396 ITR 5 · 2017 · High Court
272
citing judgments

Reassessment based solely on information from the Investigation Wing, without the Assessing Officer conducting further inquiry or demonstrating an independent application of mind, is unjustified and invalid.

109 TTJ 700 (Del) SMC Share Brokers Ltd. v. DCIT
293 ITR 43 · 2007 · High Court
264
citing judgments

Where an assessment order is merely a copy-paste of observations from an investigation wing's appraisal report without independent verification, it is not a valid basis for making additions to income.

Sarthak Securities Co. Pvt. Ltd. v. ITO
329 ITR 110 · 2010 · High Court
217
citing judgments

Reassessment proceedings under Section 147 are invalid if the Assessing Officer records satisfaction based on borrowed satisfaction or information without independently applying their mind and forming their own 'reason to believe' that income has escaped assessment. The AO must arrive at an independent conclusion, not merely act on a report from an investigation wing without due diligence.

ITO, 19(3) (4) Mumbai v. Shamim M Bharwani
69 Taxmann.com 65 · 2016 · Reported
142
citing judgments

Long Term Capital Gains (LTCG) from penny stock transactions are liable to be treated as bogus and added back under Section 68 as unexplained cash credits, especially when evidence suggests the involvement of entry operators providing accommodation entries.

1. Harikishan S. Virmani v. DCIT
394 ITR 146 · 2017 · High Court
97
citing judgments

Reassessment proceedings under section 147 cannot be initiated by the Assessing Officer based on borrowed satisfaction, vague information from the Investigation Wing, or incorrect jurisdictional facts without independent application of mind. Reopening beyond four years from the end of the relevant assessment year, especially where an original assessment was completed under section 143(3), requires specific conditions relating to the assessee's failure to disclose material facts.

ITO v. Purushottam Das Bangur
224 ITR 362 · 1997 · Supreme Court
90
citing judgments

Information received from the investigation wing constitutes valid 'reason to believe' for initiating reassessment proceedings under Sections 147/148, provided the Assessing Officer applies their mind to the material and does not act mechanically. Prompt issuance of a notice based on such information does not automatically imply a lack of due diligence or borrowed satisfaction.

AGR Investment v. Additional Commissioner
197 Taxmann 177 · 2011 · High Court
81
citing judgments

A reassessment under Section 147/148 is valid if initiated based on specific, non-vague information, even from an investigation wing, provided the Assessing Officer applies independent mind to form a 'reason to believe' that income has escaped assessment.

56 (Guj.) (para 6) v. Aaspas Multimedia Ltd. v. Dy. CIT
83 Taxmann.com 82 · 2017 · High Court
78
citing judgments

Information received from the Investigation Wing, identifying the assessee as a beneficiary of accommodation entries through share application from a third party, constitutes valid tangible material and 'reasons to believe' for initiating reassessment proceedings under Section 147 of the Income Tax Act.

Judgments citing investigation wing

Asstt.CIT, Central Circle-2, Kanpur vs. Shaheen Rabia, Kanpur

Appeals of the Department stand dismissed, whereas the five Cross Objections filed by the assessee stand allowed

ITA 235/LKW/2022[2019-20]Status: DisposedITAT Lucknow29 Oct 2024AY 2019-20

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudharyassessment Year: 2019-20 The Acit V. Tabrez Alam Central Circle – 2 16B/4E, Sultan Tanners Kanpur Compound Jajmau, Kanpur Tan/Pan:Aarpa0261A (Appellant) (Respondent) C.O. No.06/Lkw/2023 [In Ita No.233/Lkw/2022] Assessment Year: 2019-20 Tabrez Alam V. The Acit 16B/4E, Sultan Tanners Central Circle – 2 Compound Kanpur Jajmau, Kanpur Tan/Pan: Aarpa0261A (Cross Objector) (Respondent) Assessment Year: 2019-20 The Acit V. Mehtab Alam Central Circle – 2 16B/4E, Sultan Tanners Kanpur Compound Jajmau, Kanpur Tan/Pan:Aarpa0259L (Appellant) (Respondent) C.O. No.07/Lkw/2023 [In Ita No.234/Lkw/2022] Assessment Year: 2019-20 Mehtab Alam V. The Acit 16B/4E, Sultan Tanners Central Circle – 2 Compound Kanpur Jajmau, Kanpur Tan/Pan: Bezps4971J

Section 127Section 132Section 143(3)Section 271ASection 69

group, admitted in his statement on oath that profit was earned from trading of goat and bovine animals. In the affidavit filed before the Investigation Wing, Kanpur on 04.06.2018, the assessee had also admitted that she had carried out trading of goat/bovine/sheep and had earned profit from the same

Asstt. CIT, Central Circle-2, Kanpur vs. Mehtab Alam, Kanpur

Appeals of the Department stand dismissed, whereas the five Cross Objections filed by the assessee stand allowed

ITA 234/LKW/2022[2019-20]Status: DisposedITAT Lucknow29 Oct 2024AY 2019-20

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudharyassessment Year: 2019-20 The Acit V. Tabrez Alam Central Circle – 2 16B/4E, Sultan Tanners Kanpur Compound Jajmau, Kanpur Tan/Pan:Aarpa0261A (Appellant) (Respondent) C.O. No.06/Lkw/2023 [In Ita No.233/Lkw/2022] Assessment Year: 2019-20 Tabrez Alam V. The Acit 16B/4E, Sultan Tanners Central Circle – 2 Compound Kanpur Jajmau, Kanpur Tan/Pan: Aarpa0261A (Cross Objector) (Respondent) Assessment Year: 2019-20 The Acit V. Mehtab Alam Central Circle – 2 16B/4E, Sultan Tanners Kanpur Compound Jajmau, Kanpur Tan/Pan:Aarpa0259L (Appellant) (Respondent) C.O. No.07/Lkw/2023 [In Ita No.234/Lkw/2022] Assessment Year: 2019-20 Mehtab Alam V. The Acit 16B/4E, Sultan Tanners Central Circle – 2 Compound Kanpur Jajmau, Kanpur Tan/Pan: Bezps4971J

Section 127Section 132Section 143(3)Section 271ASection 69

group, admitted in his statement on oath that profit was earned from trading of goat and bovine animals. In the affidavit filed before the Investigation Wing, Kanpur on 04.06.2018, the assessee had also admitted that she had carried out trading of goat/bovine/sheep and had earned profit from the same

Asstt. CIT, Central Circle-2, Kanpur vs. Tabrez Alam, Kanpur

Appeals of the Department stand dismissed, whereas the five Cross Objections filed by the assessee stand allowed

ITA 233/LKW/2022[2019-20]Status: DisposedITAT Lucknow29 Oct 2024AY 2019-20

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudharyassessment Year: 2019-20 The Acit V. Tabrez Alam Central Circle – 2 16B/4E, Sultan Tanners Kanpur Compound Jajmau, Kanpur Tan/Pan:Aarpa0261A (Appellant) (Respondent) C.O. No.06/Lkw/2023 [In Ita No.233/Lkw/2022] Assessment Year: 2019-20 Tabrez Alam V. The Acit 16B/4E, Sultan Tanners Central Circle – 2 Compound Kanpur Jajmau, Kanpur Tan/Pan: Aarpa0261A (Cross Objector) (Respondent) Assessment Year: 2019-20 The Acit V. Mehtab Alam Central Circle – 2 16B/4E, Sultan Tanners Kanpur Compound Jajmau, Kanpur Tan/Pan:Aarpa0259L (Appellant) (Respondent) C.O. No.07/Lkw/2023 [In Ita No.234/Lkw/2022] Assessment Year: 2019-20 Mehtab Alam V. The Acit 16B/4E, Sultan Tanners Central Circle – 2 Compound Kanpur Jajmau, Kanpur Tan/Pan: Bezps4971J

Section 127Section 132Section 143(3)Section 271ASection 69

group, admitted in his statement on oath that profit was earned from trading of goat and bovine animals. In the affidavit filed before the Investigation Wing, Kanpur on 04.06.2018, the assessee had also admitted that she had carried out trading of goat/bovine/sheep and had earned profit from the same

Subhash Kumar Kedia, Hyderabad vs. Asst. Commissioner of Income Tax Central Circle-3(1), Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 707/HYD/2020[2015-16]Status: DisposedITAT Hyderabad29 Oct 2024AY 2015-16

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.707/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2015-16) Shri Subhash Kumar Kedia Vs. Asstt. C. I. T. Hyderabad Central Circle 3(1) Pan:Afvpk8915Q Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No. 405/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2015-16) Vs. Shri Bikash Kumar Asstt. C. I. T. Kedia Hyderabad Central Circle 3(1) Pan:Afapk8794E Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Vamshi Krishna, Dr सुनवाई की तारीख/Date Of Hearing: 09/10/2024 घोषणा की तारीख/Pronouncement: 29/10/2024 आदेश/Order Per Manjunatha, G. A.M These Two Appeals Filed By Different Assessees Are Directed Against The Separate, But Identical Orders Dated 31/01/2020 Of The Learned Cit (A)-11, Hyderabad Relating To Page 1 Of 33

For Appellant: Shri P Murali Mohan Rao, CAFor Respondent: : Shri Vamshi Krishna, DR
Section 143(3)Section 153ASection 68

with regard to the bogus nature of capital gain, but there is no reference to any material either in the form of report from Investigation Wing or any other material which suggests the role of the appellant in the alleged scam of bogus nature of capital gain provided by entry ... assessment order, but said reference is only in 3 lines without any details as to what is the findings of the Investigation Wing with regard to the modes operandi of entry providers and the role of appellant. In our considered view, there may be an alleged scam of providing entry

Bikash Kumar Kedia, Hyderabad vs. Asst. Commissioner of Income Tax, Central Circle-3(1), Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 405/HYD/2020[2015-16]Status: DisposedITAT Hyderabad29 Oct 2024AY 2015-16

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.707/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2015-16) Shri Subhash Kumar Kedia Vs. Asstt. C. I. T. Hyderabad Central Circle 3(1) Pan:Afvpk8915Q Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No. 405/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2015-16) Vs. Shri Bikash Kumar Asstt. C. I. T. Kedia Hyderabad Central Circle 3(1) Pan:Afapk8794E Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Vamshi Krishna, Dr सुनवाई की तारीख/Date Of Hearing: 09/10/2024 घोषणा की तारीख/Pronouncement: 29/10/2024 आदेश/Order Per Manjunatha, G. A.M These Two Appeals Filed By Different Assessees Are Directed Against The Separate, But Identical Orders Dated 31/01/2020 Of The Learned Cit (A)-11, Hyderabad Relating To Page 1 Of 33

For Appellant: Shri P Murali Mohan Rao, CAFor Respondent: : Shri Vamshi Krishna, DR
Section 143(3)Section 153ASection 68

with regard to the bogus nature of capital gain, but there is no reference to any material either in the form of report from Investigation Wing or any other material which suggests the role of the appellant in the alleged scam of bogus nature of capital gain provided by entry ... assessment order, but said reference is only in 3 lines without any details as to what is the findings of the Investigation Wing with regard to the modes operandi of entry providers and the role of appellant. In our considered view, there may be an alleged scam of providing entry

Subramanian Shanmuganathan, Chennai vs. PCIT, Madurai

In the result, both the appeals filed by the assessee are dismissed

ITA 315/CHNY/2022[2013-14]Status: DisposedITAT Chennai29 Oct 2024AY 2013-14

Bench: Shri Ss Viswanethra Ravi & Shri Jagadishआयकर अपील सं./Ita Nos.314 & 315/Chny/2022 िनधा;रण वष; /Assessment Years: 2012-13 & 2013-14

For Appellant: Shri N. Arjun Raj, AdvocateFor Respondent: Shri R. Clement Ramesh Kumar, CIT
Section 143Section 148Section 263

admitting total income of Rs. 15,91,970/- and agricultural income of Rs. 10 Lakhs. The A.O on the basis of information received from Investigation Wing that the assessee has purchased property at T. Nagar, Chennai along with his wife for Rs. 5.2 Cr. against document value of Rs.1.2

Subramanian Shanmuganathan, Chennai vs. PCIT, Madurai

In the result, both the appeals filed by the assessee are dismissed

ITA 314/CHNY/2022[2012-13]Status: DisposedITAT Chennai29 Oct 2024AY 2012-13

Bench: Shri Ss Viswanethra Ravi & Shri Jagadishआयकर अपील सं./Ita Nos.314 & 315/Chny/2022 िनधा;रण वष; /Assessment Years: 2012-13 & 2013-14

For Appellant: Shri N. Arjun Raj, AdvocateFor Respondent: Shri R. Clement Ramesh Kumar, CIT
Section 143Section 148Section 263

admitting total income of Rs. 15,91,970/- and agricultural income of Rs. 10 Lakhs. The A.O on the basis of information received from Investigation Wing that the assessee has purchased property at T. Nagar, Chennai along with his wife for Rs. 5.2 Cr. against document value of Rs.1.2

DCIT Central Circle 2(1), Mumbai vs. Abhinandan Suresh Jain, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 3146/MUM/2024[2012-13]Status: DisposedITAT Mumbai28 Oct 2024AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2012-13 Dcit Central Circle 2(1), Abhinandan Suresh Jain, 804, 8Th Floor, Pratistha Bhavan, C/8, Mamta Society, Lbs Marg, Vs. Cgo Building, Govardhan Nagar, Mulund (W), Maharishi Karve Road, Mumbai-400080. Mumbai-400020. Pan No. Affpj 2303 D Appellant Respondent

For Appellant: Mr. Jayant BhattFor Respondent: 22/10/2024
Section 10(38)Section 132Section 147

case was re-opened u/s.147 of the Act on the basis of information n the basis of information received from the investigation wing that assessee had entered into received from the investigation wing that assessee had entered into received from the investigation wing that assessee had entered into bogus transactions ... opened u/s.147 of the Act on the basis of information opened u/s.147 of the Act on the basis of information received from the investigation wing that assessee had entered into received from the investigation wing that assessee had entered into received from the investigation wing that assessee had entered into

Abdulla Mohamed Yusuf Patel, Mumbai vs. NFAC, Delhi

In the result, both the appeals of the assessee are allowed

ITA 3133/MUM/2024[2012-13]Status: DisposedITAT Mumbai28 Oct 2024AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

For Appellant: Mr. Ram Krishn Kedia, Sr. DRFor Respondent: Mr. Hari S. Raheja
Section 143(3)Section 148Section 234BSection 271(1)(c)Section 68

Rs.62,63,110/-. In In In view view view of of of information information information received received received from from from the the the Investigation Wing of Mumbai that assessee had deposited cash in Investigation Wing of Mumbai that assessee had deposited cash in Investigation Wing of Mumbai that assessee ... from the sake of clarity and brevity. Credible information was received from the sake of clarity and brevity. Credible information was received from the Investigation Wing regarding cash deposits having been made by the Investigation Wing regarding cash deposits having been made by the Investigation Wing regarding cash deposits having

Abdulla Mohamed Yusuf Patel, Mumbai vs. Assistant Commissioner of Income Tax 20(1), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 3132/MUM/2024[2011-12]Status: DisposedITAT Mumbai28 Oct 2024AY 2011-12

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

For Appellant: Mr. Ram Krishn Kedia, Sr. DRFor Respondent: Mr. Hari S. Raheja
Section 143(3)Section 148Section 234BSection 271(1)(c)Section 68

Rs.62,63,110/-. In In In view view view of of of information information information received received received from from from the the the Investigation Wing of Mumbai that assessee had deposited cash in Investigation Wing of Mumbai that assessee had deposited cash in Investigation Wing of Mumbai that assessee ... from the sake of clarity and brevity. Credible information was received from the sake of clarity and brevity. Credible information was received from the Investigation Wing regarding cash deposits having been made by the Investigation Wing regarding cash deposits having been made by the Investigation Wing regarding cash deposits having

Rubberwala Housing and Infrastructure Limited, Mumbai vs. ACIT Circle-5(3)(2), Mumbai

ITA 4129/MUM/2023[2014-15]Status: DisposedITAT Mumbai28 Oct 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Appellant: Mr. Prateek JainFor Respondent: Mr. R.R. Makwana, Sr. DR
Section 143(3)Section 43C

completed on 09.03.2015, wherein total income was assessed at Rs. Nil. Subsequently, information was received from the Investigation Wing, Mumbai that survey action u/s 133A was carried out at the premises of M/s Rubberwalla Housing and Infrastructure Ltd., wherein director of the Rubberwalla Housing and Infrastructure Ltd. namely Shri Tabrez

Dharamendra Bhandari (HUF), Gurgaon vs. Assistant Commissioner of Income Tax, Delhi

In the result, the appeal of the assessee is allowed

ITA 3787/DEL/2023[2013-14]Status: DisposedITAT Delhi28 Oct 2024AY 2013-14

Bench: Shri M. Balaganesh & Ms Madhumita Roydharamendra Bhandari (Huf), Vs. Cit(A), A-126, Sushant Lok-1, National Faceless Appeal Gurgaon, Haryana Centre, Delhi (Appellant) (Respondent) Pan:Aadhd2238J Assessee By : Shri R. S. Ahuja, Ca Shri Pushpdeep Singh, Adv Revenue By: Shri T James Singson, Cit Dr Date Of Hearing 02/08/2024 Date Of Pronouncement 28/10/2024

For Appellant: Shri R. S. Ahuja, CAFor Respondent: Shri T James Singson, CIT DR
Section 10(38)Section 143(3)Section 69C

under the category of ‘block deals’. 10. We are unable to persuade ourselves to accept to the contentions of the ld. DR that Kolkata Investigation Wing had conducted a detailed enquiry with regard to the scrip dealt by the assessee herein and hence whomsoever had dealt in this scrip, would ... baseless allegations against the assessee herein. Now another issue that arises is as to whether the ld. AO merely on the basis of Kolkata investigation wing report could come to a conclusion that the transactions carried out by the assessee as bogus. In our considered opinion

ACIT, New Delhi vs. M/S. Devine Infracon Pvt. Ltd., New Delhi

ITA 3068/DEL/2014[2010-11]Status: DisposedITAT Delhi28 Oct 2024AY 2010-11

Bench: M Balaganesh, Accontant Member & Ms Madhumita Royassessment Year: 2010-11 The Assistant Vs. M/S Divine Infracon Commissioner Of Income Private Limited, Plot Tax, Central Circle-09, No. 4, Sector-13, Jhandewalan, New Delhi, Dwarka City Centre, Room No.357, Ara Centre, Dwarka, New Delhi- E-2, Jhandewalan 110075 Extension, New Delhi Pan :Aaccd4476A (Appellant) (Respondent) Assessee By Shri Salil Aggarwal, Sr, Advocate Department By Shri T James Singson, Cit, Dr

Section 132Section 139(1)Section 143(2)Section 153ASection 68

Securities & Research Pvt. Ltd. and M/s. Vidya Shankar Investments Pvt. Ltd. The Assessing Officer reproduced the contents of the appraisal report prepared by the investigation wing for further enquiries and investigations to be undertaken by the Assessing Officer in case of Jagat group of cases on the basis ... material seized. The Assessing Officer did not segregate the transactions if any, indicated by the Investigation Wing pertaining to the appellant Page26 company and did not conduct enquiry/ investigation to detect undisclosed income from the material so seized. The Assessing Officer did not establish the flow of funds from

Halwasiya Properties Pvt. Ltd., Lucknow vs. Income Tax Officer-3(5), Lucknow

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

ITA 204/LKW/2022[F.Y. 2012-13]Status: DisposedITAT Lucknow25 Oct 2024

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2012-13 Halwasiya Properties Private Income Tax Officer-3(5), Lucknow Limited, Halwasiya Court, Vs. New, Pratyaksh Kar Bhawan, 57, Hazratganj, Lucknow- Ram Tirath Marg, Lucknow- 226001 226001 Pan:Aaach9708D (Appellant) (Respondent) Assessee By: Sh. Devashish Mehrotra, Adv Revenue By: Sh. Gayasuddin, Cit Dr. Date Of Hearing: 03.09.2024 Date Of Pronouncement: 25.10.2024 O R D E R Per Sh. Nikhil Choudhary: This Is An Appeal Filed Against The Order Of The Ld. Cit(A), Nfac Under Section 250 Of Income Tax Act Passed On 23.09.2022. The Grounds Of Appeal Are As Under:- “1. That The Order Passed By The Ld. Cit(A), Nfac Is Without Proper Opportunity & Contrary To The Principles Of Audi Alteram Partem And, Therefore, The Same Is Bad In Law & Deserves To Be Set Aside. 2. That On The Facts & Circumstances Of The Case As Well As In Law, The Cit(A), Nfac Is Not Justified In Treating The Loan Of Rs.50,00,000/- Taken By The Appellant As Fictitious Loan. 3. That The Ld. Cit(A), Nfac Has Erred In Law & On Facts & Circumstances Of The Case In Confirming The Addition Of Rs. 1,25,000/- For Alleged Accommodation Entry Of Loan @ 2.5% & Subjecting To Tax In The Hands Of The Appellant.

For Appellant: Sh. Devashish Mehrotra, AdvFor Respondent: Sh. Gayasuddin, CIT DR
Section 132Section 143(3)Section 148Section 250

ACIT-3, Lucknow vide order dated 30.03.2015. Subsequently, a search and seizure operation under section 132 of the Act, was conducted by the Investigation Wing in the case of Shri Shashwat Agarwal and Rich Udyog, group of companies. During the course of search, it was found that Shri Shaswat Agarwal ... Properties Pvt. Ltd. received an unsecured loan of Rs.50,00,000/- from M/s Big Broker House Stock Limited. Owing to the findings of the Investigation Wing and subsequent dismissal of writ petitions filed by two other group companies of the Shashwat Agarwal group, M/s Cityon Nano Technology Private Limited

Vimal Todi, Indore vs. Additional Commissioner of Income Tax, Indore

Appeals are allowed

ITA 190/IND/2024[2014-15]Status: DisposedITAT Indore25 Oct 2024AY 2014-15

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 132Section 153ASection 253(5)Section 269SSection 271D

this satisfaction of the AO as revealed from the reference letter is based on the information and document received from the Investigation Wing, Jaipur. Therefore, even if the said correspondence is considered as part of the proceedings of investigation carried out by the Jaipur Investigation Wing in case of Shri ... Sehgal, the limitation will reckon when the said investigation proceedings were completed and thereafter the information was sent by the Investigation Wing to the AO of the assessee. The Hon'ble Jurisdictional High Court in case of CIT vs. M.A. Presstressed Works 220 ITR 226 (Raj.) has considered the aspect

Vimal Todi, Indore vs. Additional Commissioner of Income Tax, Indore

Appeals are allowed

ITA 189/IND/2024[2013-14]Status: DisposedITAT Indore25 Oct 2024AY 2013-14

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 132Section 153ASection 253(5)Section 269SSection 271D

this satisfaction of the AO as revealed from the reference letter is based on the information and document received from the Investigation Wing, Jaipur. Therefore, even if the said correspondence is considered as part of the proceedings of investigation carried out by the Jaipur Investigation Wing in case of Shri ... Sehgal, the limitation will reckon when the said investigation proceedings were completed and thereafter the information was sent by the Investigation Wing to the AO of the assessee. The Hon'ble Jurisdictional High Court in case of CIT vs. M.A. Presstressed Works 220 ITR 226 (Raj.) has considered the aspect

Fazle Raoof Sheikh, Bhilwara vs. DCIT, Ajmer

44. As a_ result, appeals-ITA No

ITA 381/JPR/2024[2018-19]Status: DisposedITAT Jaipur25 Oct 2024AY 2018-19
For Appellant: Shri Sunil Porwal, C.A. ( Through V.C.)For Respondent: Mrs. Alka Gautam (CIT)
Section 132Section 143(2)Section 144Section 153ASection 69A

Mishra (Dadhich) S/o Shri Rameshwar Lal Dadhich, Resident of Harni Mahadev Road, Bhopalpura, Indira Colony, Bhilwara u/s 102 of CPC and informed to Investigation Wing on even date. Accordingly, the competent authority issued Warrant of Authorization u/s 132A, which was executed on 29.03.2018 and the entire cash of Rs.4 ... assessee was travelling and carrying with him Rs. 4 crore in cash, apprehended by ATS, Jaipur. Circumstantial evidences were also gathered by the Investigation Wing of the department such as "Call Data Record" of the assessee's mobile number 9829844444 was also enquired and it was found that assessee

Fazle Raoof Sheikh, Bhilwara vs. DCIT, Ajmer

44. As a result, appeals-ITA

ITA 380/JPR/2024[2017-18]Status: DisposedITAT Jaipur25 Oct 2024AY 2017-18

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

For Appellant: Shri Sunil Porwal, C.A. ( Through V.C.)For Respondent: Mrs. Alka Gautam (CIT)
Section 132Section 143(2)Section 144Section 153Section 153ASection 69A

Mishra (Dadhich) S/o Shri Rameshwar Lal Dadhich, Resident of Harni Mahadev Road, Bhopalpura, Indira Colony, Bhilwara u/s 102 of CPC and informed to Investigation Wing on even date. Accordingly, the competent authority issued Warrant of Authorization u/s 132A, which was executed on 29.03.2018 and the entire cash of Rs.4 ... assessee was travelling and carrying with him Rs. 4 crore in cash, apprehended by ATS, Jaipur. Circumstantial evidences were also gathered by the Investigation Wing of the department such as "Call Data Record" of the assessee's mobile number 9829844444 was also enquired and it was found that assessee

Fazle Raoof Sheikh, Bhilwara vs. DCIT, Ajmer

44. As a result, appeals-ITA

ITA 379/JPR/2024[2016-17]Status: DisposedITAT Jaipur25 Oct 2024AY 2016-17

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

For Appellant: Shri Sunil Porwal, C.A. ( Through V.C.)For Respondent: Mrs. Alka Gautam (CIT)
Section 132Section 143(2)Section 144Section 153Section 153ASection 69A

Mishra (Dadhich) S/o Shri Rameshwar Lal Dadhich, Resident of Harni Mahadev Road, Bhopalpura, Indira Colony, Bhilwara u/s 102 of CPC and informed to Investigation Wing on even date. Accordingly, the competent authority issued Warrant of Authorization u/s 132A, which was executed on 29.03.2018 and the entire cash of Rs.4 ... assessee was travelling and carrying with him Rs. 4 crore in cash, apprehended by ATS, Jaipur. Circumstantial evidences were also gathered by the Investigation Wing of the department such as "Call Data Record" of the assessee's mobile number 9829844444 was also enquired and it was found that assessee

Assistant Commissioner of Income Tax 4(1)(1), Mumbai vs. Ankur Agrawal, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 2308/MUM/2024[2011-12]Status: DisposedITAT Mumbai25 Oct 2024AY 2011-12

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailassessment Year: 2011-12 Acit 4(1)(1), Mumbai Ankur Agrawal 2401, 2402, Anmol Pride, Opp. Vs. Patel Auto Petrol Pump, Off Sv Road Goregaon West, Mumbai- 400062. Pan: Akopa 7201 P (Appellant) (Respondent)

For Appellant: Shri Neelkanth KhandelwalFor Respondent: Shri Ajay Chandra, CIT, DR
Section 143(1)Section 143(3)Section 147Section 148Section 250Section 271(1)(c)Section 68

judgment of the Hon'ble Delhi High Court was that mere reliance on the report of the 4 Ankur Agrawal A.Y. 2011-12 investigation wing without further corroboration does not justify the conclusion of treating the transaction as bogus and sham. The relevant part of the decision ... under Section 10(38), in a preplanned manner to evade taxes. The AO extensively relied upon the search and survey operations conducted by the Investigation Wing of the Income Tax Department in Kolkata, Delhi, Mumbai and Ahmedabad on penny stocks, which sets out the modus operandi adopted in the business