investigation wing — 12,584 case laws

Viral Vinodchandra Joshi, Gandhinagar vs. The Income Tax Officer, Ward-2, Gandhinagar

Accordingly, these four appeals of the assessee(s) are allowed for statistical purposes

ITA 612/AHD/2023[2011-12]Status: DisposedITAT Ahmedabad08 Oct 2024AY 2011-12

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.609, 610 & 611/Ahd/2023 िनधा"रण वष" /Assessment Years : 2010-11, 2011-12 & 2012-13 Respectively Hema Viral Joshi The Income Tax Officer बनाम/ 9C Sector-19, Ward-2, Gandhinagar V/S. Gandhinagar – 382 019 (Gujarat) "थायी लेखा सं./Pan: Admpj 6455 B & आयकर अपील सं /Ita No.612/Ahd/2023 िनधा"रण वष" /Assessment Year : 2011-12 Viral Vinodchandra Joshi The Income Tax Officer बनाम/ 9C Sector-19, Ward-2, Gandhinagar V/S. Gandhinagar – 382 019 (Gujarat) "थायी लेखा सं./Pan: Abjpj 6812 H अपीलाथ%/ (Appellant) &' यथ%/ (Respondent) Assessee By : Shri Kushal Fofaria, Ar Revenue By : Shri Surendra Kumar, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 30/09/2024 घोषणा की तारीख /Date Of Pronouncement: 08/10/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

For Appellant: Shri Kushal Fofaria, ARFor Respondent: Shri Surendra Kumar, Sr.DR

Section 139Section 144Section 147Section 69A

assessment was reopened by the Assessing Officer (AO) under section 147 based on information received from the Income Tax Investigation Wing. The information indicated that the assessee had conducted significant financial transactions, specifically related to shares of Gandhinagar Hotels Ltd.. The AO noted that these transactions were not disclosed

Hema Viral Joshi, Gandhinagar vs. The Income Tax Officer, Ward-2, Gandhinagar

Accordingly, these four appeals of the assessee(s) are allowed for statistical purposes

ITA 611/AHD/2023[2012-13]Status: DisposedITAT Ahmedabad08 Oct 2024AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.609, 610 & 611/Ahd/2023 िनधा"रण वष" /Assessment Years : 2010-11, 2011-12 & 2012-13 Respectively Hema Viral Joshi The Income Tax Officer बनाम/ 9C Sector-19, Ward-2, Gandhinagar V/S. Gandhinagar – 382 019 (Gujarat) "थायी लेखा सं./Pan: Admpj 6455 B & आयकर अपील सं /Ita No.612/Ahd/2023 िनधा"रण वष" /Assessment Year : 2011-12 Viral Vinodchandra Joshi The Income Tax Officer बनाम/ 9C Sector-19, Ward-2, Gandhinagar V/S. Gandhinagar – 382 019 (Gujarat) "थायी लेखा सं./Pan: Abjpj 6812 H अपीलाथ%/ (Appellant) &' यथ%/ (Respondent) Assessee By : Shri Kushal Fofaria, Ar Revenue By : Shri Surendra Kumar, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 30/09/2024 घोषणा की तारीख /Date Of Pronouncement: 08/10/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

For Appellant: Shri Kushal Fofaria, ARFor Respondent: Shri Surendra Kumar, Sr.DR

Section 139Section 144Section 147Section 69A

assessment was reopened by the Assessing Officer (AO) under section 147 based on information received from the Income Tax Investigation Wing. The information indicated that the assessee had conducted significant financial transactions, specifically related to shares of Gandhinagar Hotels Ltd.. The AO noted that these transactions were not disclosed

Hema Viral Joshi, Gandhinagar vs. The Income Tax Officer, Ward-2, Gandhinagar

Accordingly, these four appeals of the assessee(s) are allowed for statistical purposes

ITA 610/AHD/2023[2011-12]Status: DisposedITAT Ahmedabad08 Oct 2024AY 2011-12

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.609, 610 & 611/Ahd/2023 िनधा"रण वष" /Assessment Years : 2010-11, 2011-12 & 2012-13 Respectively Hema Viral Joshi The Income Tax Officer बनाम/ 9C Sector-19, Ward-2, Gandhinagar V/S. Gandhinagar – 382 019 (Gujarat) "थायी लेखा सं./Pan: Admpj 6455 B & आयकर अपील सं /Ita No.612/Ahd/2023 िनधा"रण वष" /Assessment Year : 2011-12 Viral Vinodchandra Joshi The Income Tax Officer बनाम/ 9C Sector-19, Ward-2, Gandhinagar V/S. Gandhinagar – 382 019 (Gujarat) "थायी लेखा सं./Pan: Abjpj 6812 H अपीलाथ%/ (Appellant) &' यथ%/ (Respondent) Assessee By : Shri Kushal Fofaria, Ar Revenue By : Shri Surendra Kumar, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 30/09/2024 घोषणा की तारीख /Date Of Pronouncement: 08/10/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

For Appellant: Shri Kushal Fofaria, ARFor Respondent: Shri Surendra Kumar, Sr.DR

Section 139Section 144Section 147Section 69A

assessment was reopened by the Assessing Officer (AO) under section 147 based on information received from the Income Tax Investigation Wing. The information indicated that the assessee had conducted significant financial transactions, specifically related to shares of Gandhinagar Hotels Ltd.. The AO noted that these transactions were not disclosed

Hema Viral Joshi, Gandhinagar vs. The Income Tax Officer, Ward-2, Gandhinagar

Accordingly, these four appeals of the assessee(s) are allowed for statistical purposes

ITA 609/AHD/2023[2010-11]Status: DisposedITAT Ahmedabad08 Oct 2024AY 2010-11

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.609, 610 & 611/Ahd/2023 िनधा"रण वष" /Assessment Years : 2010-11, 2011-12 & 2012-13 Respectively Hema Viral Joshi The Income Tax Officer बनाम/ 9C Sector-19, Ward-2, Gandhinagar V/S. Gandhinagar – 382 019 (Gujarat) "थायी लेखा सं./Pan: Admpj 6455 B & आयकर अपील सं /Ita No.612/Ahd/2023 िनधा"रण वष" /Assessment Year : 2011-12 Viral Vinodchandra Joshi The Income Tax Officer बनाम/ 9C Sector-19, Ward-2, Gandhinagar V/S. Gandhinagar – 382 019 (Gujarat) "थायी लेखा सं./Pan: Abjpj 6812 H अपीलाथ%/ (Appellant) &' यथ%/ (Respondent) Assessee By : Shri Kushal Fofaria, Ar Revenue By : Shri Surendra Kumar, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 30/09/2024 घोषणा की तारीख /Date Of Pronouncement: 08/10/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

For Appellant: Shri Kushal Fofaria, ARFor Respondent: Shri Surendra Kumar, Sr.DR

Section 139Section 144Section 147Section 69A

assessment was reopened by the Assessing Officer (AO) under section 147 based on information received from the Income Tax Investigation Wing. The information indicated that the assessee had conducted significant financial transactions, specifically related to shares of Gandhinagar Hotels Ltd.. The AO noted that these transactions were not disclosed

Sri Utpal Das, Burdwan vs. ITO, Ward-1(3), Burdwan

In the result, appeal of the assessee is allowed

ITA 820/KOL/2023[2012-13]Status: DisposedITAT Kolkata08 Oct 2024AY 2012-13

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar]

Section 143(3)Section 147Section 148Section 148(2)

Apartment, 35, G.T. Road, Burdwan-7131013 during the FY 2011-12 relevant to AY 2012-13. It was also noted by the AO the Investigation Wing found that Shri Utpal Das was the direct beneficiary of the cash deposited by Smt. Mira Indra and noted that the notice also issued ... Income Tax Officer (Intelligence & Investigation), Durgapur that the transaction has been found there that Shri Utpal Das withdraws huge amount and thereafter the investigation wing noted that the AO has to proceed to reopen the case of the assessee on protective basis. Thus, there has not been any application

ACIT-CC-1(3), New Marine Lines, Churchgate vs. Ms. Shanti Enterprises, Vashi

In the result ground number 1 and 2 of the appeal for assessment year 2015 – 16 of the learned assessing officer are dismissed

ITA 1349/MUM/2024[2012-13]Status: DisposedITAT Mumbai08 Oct 2024AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shriraj Kumar Chauhan, Jm A.Y.2012-13 A.Y.2015-16 Acit-Central Circle-1(3), Bhagwati Developers, Mumbai 1306, 13Th Floor, Vs. Real Tech Park, Plot No.39/2, Sector-30A, Vashi Navi Mumbai Co No. 80/Mum/2024 A.Y. 2012-13 [Ita No. 1346/Mum/2024] Bhagwati Developers, Acit-Central Circle-1(3), 1306, 13Th Floor, Mumbai Real Tech Park, Plot No.39/2, Sector-30A, Vashi Navi Mumbai Pan Aalfb 5272C A.Y. 2012-13 Acit-Central Circle-1(3), Ms. Shanti Enterprises, Mumbai Office No. 1306, Real Tech Park, Plot No.39/2, Sector-30A Vashi Co No. 110/Mum/2024 A.Y. 2012-13 [Ita No. 1349/Mum/2024] Ms. Shanti Enterprises, Acit-Central Circle-1(3), Office No. 1306, Real Tech Mumbai Park, Plot No.39/2, Sector-30A Vashi (Appellant) (Respondent) Assessee By Shri Mani Jain & Shri Prateek Jain

Section 132Section 143Section 153ASection 69C

enquiry, especially when, the learned AO is confronted with report of investigation by a survey party. 52. If the enquiry made by the investigation wing is to be relied upon for making an addition, there would not have been any requirement of mentioning under section 68 of the act that

ACIT-CC-1(3), Mumbai vs. Bhagwati Developers, Navi Mumbai

In the result ground number 1 and 2 of the appeal for assessment year 2015 – 16 of the learned assessing officer are dismissed

ITA 1346/MUM/2024[2012-13]Status: DisposedITAT Mumbai08 Oct 2024AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shriraj Kumar Chauhan, Jm A.Y.2012-13 A.Y.2015-16 Acit-Central Circle-1(3), Bhagwati Developers, Mumbai 1306, 13Th Floor, Vs. Real Tech Park, Plot No.39/2, Sector-30A, Vashi Navi Mumbai Co No. 80/Mum/2024 A.Y. 2012-13 [Ita No. 1346/Mum/2024] Bhagwati Developers, Acit-Central Circle-1(3), 1306, 13Th Floor, Mumbai Real Tech Park, Plot No.39/2, Sector-30A, Vashi Navi Mumbai Pan Aalfb 5272C A.Y. 2012-13 Acit-Central Circle-1(3), Ms. Shanti Enterprises, Mumbai Office No. 1306, Real Tech Park, Plot No.39/2, Sector-30A Vashi Co No. 110/Mum/2024 A.Y. 2012-13 [Ita No. 1349/Mum/2024] Ms. Shanti Enterprises, Acit-Central Circle-1(3), Office No. 1306, Real Tech Mumbai Park, Plot No.39/2, Sector-30A Vashi (Appellant) (Respondent) Assessee By Shri Mani Jain & Shri Prateek Jain

Section 132Section 143Section 153ASection 69C

enquiry, especially when, the learned AO is confronted with report of investigation by a survey party. 52. If the enquiry made by the investigation wing is to be relied upon for making an addition, there would not have been any requirement of mentioning under section 68 of the act that

Quadeye Securities Pvt. Ltd., Kolkata vs. DCIT, Cir. 11(1), Kolkata

In the result, the appeal of the assessee stands allowed

ITA 792/KOL/2024[2011-12]Status: DisposedITAT Kolkata07 Oct 2024AY 2011-12

Bench: Shri Sanjay Garg & Shri Rakesh Mishrai.T.A. No.792/Kol/2024 Assessment Year: 2011-12 Quadeye Securities Pvt. Ltd..………...........………………....Appellant 184, Harish Mukherjee Road, 1St Floor, Kolkata-700026. [Pan: Aabce7790H] Vs. Dcit, Circle-11(1), Kolkata….………….…............................…..…..... Respondent Appearances By: Shri A. K. Tibrewal, Fca, Appeared On Behalf Of The Assessee. Shri Vineet Kumar, Addl. Cit- Sr. Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : July 08, 2024 Date Of Pronouncing The Order : October 07, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 29.02.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Is Aggrieved By The Action Of The Ld. Cit(A) In Confirming The Addition Made By The Assessing Officer On Account Of Disallowance Of Loss Of Rs.2,47,48,393/- Incurred By The Assessee In Commodities Dealing In National Multi Commodity Exchange Of India Limited (‘Nmce’) Platform & Further Making Addition Of Rs.4,92,263/- U/S 69C Of The Act On Account Of Alleged Commission That Might Have Been Paid By The Assessee In Booking The Aforesaid Bogus Loss In Commodity Trading.

Section 147Section 250Section 69C

that the assessment was reopened in the case of the assessee on the basis of following information received by the Assessing Officer from the Investigation Wing: “From ADIT (Inv.), Unit-2(1) & ADIT (Inv.), Unit-2(2), Kolkata During F.Y. 2010-11M/s Quadeye Securities Pvt. Ltd. (previously known ... that in the said 7 pages document, the Assessing Officer has based his reasoning solely on the ground that he has received information from Investigation Wing that the assessee has received accommodation entries in the shape of bank deposits amounting to Rs.3,25,00,000/-, which income has escaped assessment

Sharda Kanoria, Kolkata vs. ACIT, Cir-30, Kolkata.

In the result, appeal of the assessee isallowed

ITA 797/KOL/2023[2009-10]Status: DisposedITAT Kolkata07 Oct 2024AY 2009-10

Bench: Shri Manish Borad, Accountant Member Shri Sonjoy Sarma (Judicial Member)

Section 139(1)Section 142(3)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 250Section 68

documents/evidences produced by the appellant without bringing out any discrepancy in the same, wholly placing reliance on some alleged investigation report of the Investigation Wing which is totally unverified, behind the back information and without providing the appellant any opportunity for verification and/or rebuttal of the same as required ... further investigation/enquiry on the said finding of the Investigation Wing was conducted by the Ld. CIT(A) or the A.O. and nothing was brought on record to substantiate the said alleged Report. 4. That, on the facts and in the circumstances of the case and in law, the Order

Daksha Abani Das, Mumbai vs. Income Tax Office Ward 9(3)(1), Mumbai

ITA 4254/MUM/2023[2014-15]Status: DisposedITAT Mumbai07 Oct 2024AY 2014-15

Bench: the authorities. b). The learned CIT(A) did not consider the detailed submission made and the documents filed during the proceedings. 3. On the facts and circumstances of the case and in law, the CIT(A) erred in not considering the various judgments of the Tribunals which were directly having the same facts and also dealt with the company which the AO treated as a Penny Stock. 4. The appellant craves leave to add, amend, modify, cancel and or substitute any of the grounds of the

For Appellant: Shri Rajesh ShahFor Respondent: Shri R. R. Makwana

Section 10(38)Section 143(3)Section 68

data available on the website of moneycontrol.com available in public domain. The Assessment Order does not make reference to any information received from the investigation wing, or report of investigation wing to show that the Appellant was beneficiary of long-term capital accommodation entry. There is also no discussion regarding

Gemco International, Jaipur vs. Income Tax Officer Ward 2(1), Jaipur

In the result, the appeal filed by the assessee stands partly allowed with no order as to cost

ITA 410/JPR/2024[2012-13]Status: DisposedITAT Jaipur04 Oct 2024AY 2012-13

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri Vivek Bhargava, CAFor Respondent: Shri Gautam Singh Choudhary,JCIT-DR

Section 143(3)Section 147Section 148Section 153ASection 153C

facts in holding that the issue of not providing the copy of approval of jurisdictional PCIT, copy of letter from investigation wing. Mumbai and other documents was not raised before the Id. AO and hence rejected the ground no. 2 of the appeal without considering the written submission ... Court) in the matter of Shyam Sunder Khandelwal (Supra) also supports this view. Hon’ble Jaipur Bench of ITAT on material handed over by Investigation Wing, in the matter of Madho Lal Saini (supra) also supports this view. Relief Sought- We request you to quash the notice issued

Amar Pratap Steels Private Limited, Jaipur vs. ITO, Ward-7(2), Jaipur

In the result, appeal of the assessee is partly allowed

ITA 108/JPR/2024[2013-14]Status: DisposedITAT Jaipur03 Oct 2024AY 2013-14

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Rohan Sogani, CAFor Respondent: Sh. Monisha Choudhary, Addl. CIT

Section 143(2)Section 143(3)Section 36Section 68

were managed and controlled by Shri Praveen Kumar Jain through his relatives, agents and his accountants detected during the search & seizure operation conducted by Investigation Wing, Income Tax Department, Mumbai in the case of Shri Praveen Kumar Jain Group. The same are bogus unsecured loans made by the assessee with ... Therefore, the same are not to be relied upon. 4.3 From the facts of the case and as per information provided by the Investigation Wing, Mumbai it is understood that Sri Praveen Kumar Jain has been involved in providing accommodation entries to hundreds of companies and the data

The ACIT, Central Circle-3, Vadodara vs. M/S. Aikya Chemicals Pvt. Ltd., Vadodara

In the result, both the appeals of the Revenue are hereby dismissed

ITA 160/AHD/2021[2015-16]Status: DisposedITAT Ahmedabad01 Oct 2024AY 2015-16

Bench: Ms. Suchitra Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील (एसएस) सं./I.T (Ss).A. No. 81/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2014-15) बनाम/ Asstt. Commissioner Of M/S. Cube Mines & Income-Tax Minerals Pvt. Ltd. Vs. Central Circle-3, Vadodara 11/C Ground Floor, Jaishri Narayan Co-Operative Hsg. Society, Subhanpura, Gorwa, Vadodara, Gujarat 390015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccc5761D (Appellant) .. (Respondent) & आयकर अपील (एसएस) सं./I.T (Ss).A. No. 82/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2014-15) & आयकर अपील सं./I.T.A. No. 159/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2015-16) बनाम/ Asstt. Commissioner Of M/S. Iolite Cube Income-Tax Inframaterial Ltd. Vs. Central Circle-3, Vadodara 1, Chandamani Nagar, Vidhya Vihar School Lane, Subhanpura, Vadodara, "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacci5944A (Appellant) .. (Respondent) &

For Appellant: Shri Jigar Adhiyaru, A.RFor Respondent: Shri H. Phani Raju, CIT. DR

Section 132Section 153A

hearing of the appeal.” 8. Shri H. Phani Raju, Ld. CIT. DR submitted that the AO had relied upon the report of the Investigation Wing that BVPL was floated by an accommodation entry operator of Kolkata, namely, Shri Pankaj Agrawal who had admitted in his statement that

The ACIT, Central Circle-3, Vadodara vs. M/S. Iolite Cube Inframaterial Ltd., Vadodara

In the result, both the appeals of the Revenue are hereby dismissed

ITA 159/AHD/2021[2015-16]Status: DisposedITAT Ahmedabad01 Oct 2024AY 2015-16

Bench: Ms. Suchitra Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील (एसएस) सं./I.T (Ss).A. No. 81/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2014-15) बनाम/ Asstt. Commissioner Of M/S. Cube Mines & Income-Tax Minerals Pvt. Ltd. Vs. Central Circle-3, Vadodara 11/C Ground Floor, Jaishri Narayan Co-Operative Hsg. Society, Subhanpura, Gorwa, Vadodara, Gujarat 390015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccc5761D (Appellant) .. (Respondent) & आयकर अपील (एसएस) सं./I.T (Ss).A. No. 82/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2014-15) & आयकर अपील सं./I.T.A. No. 159/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2015-16) बनाम/ Asstt. Commissioner Of M/S. Iolite Cube Income-Tax Inframaterial Ltd. Vs. Central Circle-3, Vadodara 1, Chandamani Nagar, Vidhya Vihar School Lane, Subhanpura, Vadodara, "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacci5944A (Appellant) .. (Respondent) &

For Appellant: Shri Jigar Adhiyaru, A.RFor Respondent: Shri H. Phani Raju, CIT. DR

Section 132Section 153A

hearing of the appeal.” 8. Shri H. Phani Raju, Ld. CIT. DR submitted that the AO had relied upon the report of the Investigation Wing that BVPL was floated by an accommodation entry operator of Kolkata, namely, Shri Pankaj Agrawal who had admitted in his statement that

Prabhati Devi, Dausa vs. ITO Ward Dausa, Dausa

ITA 1031/JPR/2024[2011-12]Status: HeardITAT Jaipur01 Oct 2024AY 2011-12

For Appellant: Shri Sarwan Kumar Gupta, Advocate &For Respondent: Shri Gautam Singh Chaudhary, JCIT D/R

Section 144Section 147Section 148Section 234ASection 250

identical matter of "Hitesh Ashok Vaswani Vs DCIT (ITAT Ahmedabad) dated 12/11/2020” Hon'ble ITAT Ahemdabad held that "the information received from investigation wing, emanating from the search records would not per se empower the Assessing Officer to exercise the power of reassessment. Such information with regard to escapement ... question of jurisdiction. 88. The expression 'reason to believe' occurring in Section 147 of the Act inter-alia postulates that the information received from investigation wing, emanating from the search records would not per se empower the Assessing Officer to exercise the power of reassessment. Such information with regard

Kandoi Metal Powders Manufactruing Company, Jaipur vs. DCIT, CC-3, Jaipur

In the result, the appeal of the assessee is partly allowed

ITA 122/JPR/2022[2012-13]Status: DisposedITAT Jaipur01 Oct 2024AY 2012-13

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. S. L. Poddar (Adv.)For Respondent: Sh. A. S. Nehra (Addl. CIT) a

Section 139Section 143(3)Section 147Section 148

were provided and assessee was required to file information in response to the notice issued. 6. An inquiry was conducted by the investigation wing authorities. During investigation, it was found that various entities were indulged in giving and taking non-genuine accommodation entries in which assessee is one of those ... unverifiable purchases. The assessee submitted its reply on 13.12.2019 stating that the allegation is only based on third-party information gathered by the investigation wing of the department without any further verification on the part of the assessing officer. Therefore, no addition can be made by based on such information

Assistant Commissioner of Income Tax, Mumbai vs. Keshavji Nongha Shah, Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 862/MUM/2024[2014-15]Status: DisposedITAT Mumbai01 Oct 2024AY 2014-15

Bench: Shri B.R. Baskaran & Shri Sunil Kumar Singhassessment Year : 2014-15 Asst.Commissioner Of Income Keshavji Nongha Shah, Tax, M/S. Ankur Harganga Mahal, Piramal Chambers, Vs. Khodad Circle, Dadar T.T., Lalbaug, Mumbai Mumbai. Pan : Aaeps6097B (Appellant) (Respondent) For Assessee : Shri Nishit Gandhi, For Revenue : Shri P.D. Chougule,(Addl.Cit) Sr.Dr Date Of Hearing : 16-07-2024 Date Of Pronouncement : 01-10-2024 Order Per B.R. Baskaran, A.M :

For Appellant: Shri Nishit GandhiFor Respondent: Shri P.D. Chougule,(Addl.CIT) Sr.DR

Section 10(38)Section 131Section 133(6)Section 68

share. Consequently, the assessee received 20,00,000 shares of Re1.00 each in lieu of 2,00,000 shares of Rs.10/- each. The Investigation Wing had carried out investigation with regard to the price manipulations and generation of bogus long term capital gains in number of stocks, classified as penny ... shares for a consideration of Rs.7.04 crores and declared Long term capital gains of Rs.6.92 crores. Relying fully upon the report given by the Investigation wing, the AO took the view that the long term capital gain declared by the assessee on sale of shares of above mentioned company

Kalpana Saurabh Patwa, Ahmedabad vs. The PCIT-3, Ahmedabad

ITA 512/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad30 Sept 2024AY 2017-18

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

For Appellant: Shri Biren Shah &For Respondent: Shri Prithviraj Meena, CIT-DR

Section 144BSection 147Section 148Section 263

Kalhaar Blues and Greens" (KBG) Project developed by Navratna Organizers and Developers Pvt. Ltd. (NODPL). This information was based on a report from the Investigation Wing which indicated that, during a search operation on NODPL, the builder admitted to receiving "on-money" in cash payments for the sale of villas ... Ld.PCIT observed that the AO has not made any enquiry or conscious efforts to examine the facts reported by the Investigation Wing. Therefore, he issued the show cause notice to the assessee u/s.263 of the Act for both the assessment years. 2.6. In reply to the notices u/s.263

Kalpana Saurabh Patwa, Ahmedabad vs. The PCIT-3, Ahmedabad

ITA 511/AHD/2024[2015-16]Status: DisposedITAT Ahmedabad30 Sept 2024AY 2015-16

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

For Appellant: Shri Biren Shah &For Respondent: Shri Prithviraj Meena, CIT-DR

Section 144BSection 147Section 148Section 263

Kalhaar Blues and Greens" (KBG) Project developed by Navratna Organizers and Developers Pvt. Ltd. (NODPL). This information was based on a report from the Investigation Wing which indicated that, during a search operation on NODPL, the builder admitted to receiving "on-money" in cash payments for the sale of villas ... Ld.PCIT observed that the AO has not made any enquiry or conscious efforts to examine the facts reported by the Investigation Wing. Therefore, he issued the show cause notice to the assessee u/s.263 of the Act for both the assessment years. 2.6. In reply to the notices u/s.263

Saurabh Sumant Patwa, Ahmedabad vs. The PCIT-3, Ahmedabad

ITA 510/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad30 Sept 2024AY 2017-18

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

For Appellant: Shri Biren Shah &For Respondent: Shri Prithviraj Meena, CIT-DR

Section 144BSection 147Section 148Section 263

Kalhaar Blues and Greens" (KBG) Project developed by Navratna Organizers and Developers Pvt. Ltd. (NODPL). This information was based on a report from the Investigation Wing which indicated that, during a search operation on NODPL, the builder admitted to receiving "on-money" in cash payments for the sale of villas ... Ld.PCIT observed that the AO has not made any enquiry or conscious efforts to examine the facts reported by the Investigation Wing. Therefore, he issued the show cause notice to the assessee u/s.263 of the Act for both the assessment years. 2.6. In reply to the notices u/s.263

“investigation wing”

Leading authorities on investigation wing

Judgments citing investigation wing

Viral Vinodchandra Joshi, Gandhinagar vs. The Income Tax Officer, Ward-2, Gandhinagar

Hema Viral Joshi, Gandhinagar vs. The Income Tax Officer, Ward-2, Gandhinagar

Hema Viral Joshi, Gandhinagar vs. The Income Tax Officer, Ward-2, Gandhinagar

Hema Viral Joshi, Gandhinagar vs. The Income Tax Officer, Ward-2, Gandhinagar

Sri Utpal Das, Burdwan vs. ITO, Ward-1(3), Burdwan

ACIT-CC-1(3), New Marine Lines, Churchgate vs. Ms. Shanti Enterprises, Vashi

ACIT-CC-1(3), Mumbai vs. Bhagwati Developers, Navi Mumbai

Quadeye Securities Pvt. Ltd., Kolkata vs. DCIT, Cir. 11(1), Kolkata

Sharda Kanoria, Kolkata vs. ACIT, Cir-30, Kolkata.

Daksha Abani Das, Mumbai vs. Income Tax Office Ward 9(3)(1), Mumbai

Gemco International, Jaipur vs. Income Tax Officer Ward 2(1), Jaipur

Amar Pratap Steels Private Limited, Jaipur vs. ITO, Ward-7(2), Jaipur

The ACIT, Central Circle-3, Vadodara vs. M/S. Aikya Chemicals Pvt. Ltd., Vadodara

The ACIT, Central Circle-3, Vadodara vs. M/S. Iolite Cube Inframaterial Ltd., Vadodara

Prabhati Devi, Dausa vs. ITO Ward Dausa, Dausa

Kandoi Metal Powders Manufactruing Company, Jaipur vs. DCIT, CC-3, Jaipur

Assistant Commissioner of Income Tax, Mumbai vs. Keshavji Nongha Shah, Mumbai

Kalpana Saurabh Patwa, Ahmedabad vs. The PCIT-3, Ahmedabad

Kalpana Saurabh Patwa, Ahmedabad vs. The PCIT-3, Ahmedabad

Saurabh Sumant Patwa, Ahmedabad vs. The PCIT-3, Ahmedabad