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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

Income Tax Officer-23(3)(1), Mumbai vs. Satguru Gems, Mumbai

In the result, both the appeals of the R

ITA 4644/MUM/2023[2012-13]Status: DisposedITAT Mumbai30 Aug 2024AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

For Appellant: Ms. Rajeshwari Menon, Sr. DRFor Respondent: Mr. K A Viadyalingan

case of Shri Rajendra Jain and other on ajendra Jain and other on 03.10.2013 03.10.2013 03.10.2013 by by by the the the Investigation Investigation Investigation Wing Wing Wing of of of the the the Income-tax Income Income Department, Mumbai wherein he found that various concerns Department, Mumbai wherein ... entries of sales of were engaged in providing accommodation entries of were engaged in providing accommodation entries of diamonds etc. to various persons. The Investigation Wing found diamonds etc. to various persons. The Investigation Wing found diamonds etc. to various persons. The Investigation Wing found that assessee

Income Tax Officer-23(3)(1), Mumbai vs. Satguru Gems, Mumbai

In the result, both the appeals of the R

ITA 4613/MUM/2023[2011-12]Status: DisposedITAT Mumbai30 Aug 2024AY 2011-12

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

For Appellant: Ms. Rajeshwari Menon, Sr. DRFor Respondent: Mr. K A Viadyalingan

case of Shri Rajendra Jain and other on ajendra Jain and other on 03.10.2013 03.10.2013 03.10.2013 by by by the the the Investigation Investigation Investigation Wing Wing Wing of of of the the the Income-tax Income Income Department, Mumbai wherein he found that various concerns Department, Mumbai wherein ... entries of sales of were engaged in providing accommodation entries of were engaged in providing accommodation entries of diamonds etc. to various persons. The Investigation Wing found diamonds etc. to various persons. The Investigation Wing found diamonds etc. to various persons. The Investigation Wing found that assessee

Sachin Chirania, Mumbai vs. The Income Tax Officer, Navi Mumbai

ITA 4408/MUM/2023[2012-13]Status: DisposedITAT Mumbai30 Aug 2024AY 2012-13

Bench: Ld. Commissioner of Income Tax (Appeals). 4. On the facts and the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in not taking cognizance of the stated legal position that Assessing Officer was bound to provide reasons within reasonable time for which he took six months and did not dispose of the objections filed by the assessee before completion of

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri R. R. Makwana
Section 144Section 147Section 148Section 69A

Limited on the grounds that the aforesaid script was identified as a penny 3 Assessment Year: 2012-13 stock by the report of the investigation wing. In appeal before the CIT(A), the Appellant challenged the validity of reassessment proceedings as well as the additions ... effect in paragraph 8 of the order passed by the CIT(A). Since Tilak Ventures Limited was a penny stock company identified by the investigation wing, the Assessing Officer as well as CIT(A) were correct in rejecting Appellant claim for exemption under Section

Alka Commodities Limited, Mumbai vs. Income Tax Officer 4(1)(3), Mumbai

In the result, the appeal of the assessee is allowed

ITA 2983/MUM/2023[2014-15]Status: DisposedITAT Mumbai30 Aug 2024AY 2014-15

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri B.R. Baskaranassessment Year 2014-15

For Appellant: Shri Aditya Maheshwari, C.AFor Respondent: Shri Manoj Kumar Sinha, Sr. DR
Section 132Section 132(4)Section 143(1)Section 147Section 148

heard the Ld.DR, who submitted that the AO has reopened the assessment on the basis of the information received from the Investigation wing with regard to the bogus accommodation entries. 7. We heard the parties and perused the record. Admittedly, the AO has examined the alleged bogus accommodation entries consisting

Anil Chaudhary, New Delhi vs. ACIT Central Circle-17, New Delhi

In the result, appeals filed by the assessee are allowed

ITA 2938/DEL/2023[2017-18]Status: DisposedITAT Delhi30 Aug 2024AY 2017-18

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

Appeals) allowed the appeal of the assessee stating: “Thus, the entire disallowance in this case is based on third party information gathered by the Investigation Wing of the Department, which have not been independently subjected to further verification by the AO who has not provided the copy of such statements

Anil Chaudhary, New Delhi vs. ACIT Central Circle-17, New Delhi

In the result, appeals filed by the assessee are allowed

ITA 2937/DEL/2023[2016-17]Status: DisposedITAT Delhi30 Aug 2024AY 2016-17

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

Appeals) allowed the appeal of the assessee stating: “Thus, the entire disallowance in this case is based on third party information gathered by the Investigation Wing of the Department, which have not been independently subjected to further verification by the AO who has not provided the copy of such statements

Anil Chaudhary, New Delhi vs. ACIT Central Circle-17, New Delhi

In the result, appeals filed by the assessee are allowed

ITA 2936/DEL/2023[2015-16]Status: DisposedITAT Delhi30 Aug 2024AY 2015-16

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

Appeals) allowed the appeal of the assessee stating: “Thus, the entire disallowance in this case is based on third party information gathered by the Investigation Wing of the Department, which have not been independently subjected to further verification by the AO who has not provided the copy of such statements

Anil Chaudhary, New Delhi vs. ACIT Central Circle-17, New Delhi

In the result, appeals filed by the assessee are allowed

ITA 2935/DEL/2023[2014-15]Status: DisposedITAT Delhi30 Aug 2024AY 2014-15

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

Appeals) allowed the appeal of the assessee stating: “Thus, the entire disallowance in this case is based on third party information gathered by the Investigation Wing of the Department, which have not been independently subjected to further verification by the AO who has not provided the copy of such statements

Shah Jitendrakumar Mafatlal HUF, Ellisbridge, Ahmedabad vs. PCIT, Ahmedabad-1, Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 645/AHD/2024[2014-15]Status: DisposedITAT Ahmedabad29 Aug 2024AY 2014-15

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Sulabh Padshah, A.RFor Respondent: Shri Arvind Kumar, CIT DR
Section 143(3)Section 147Section 151Section 263

specifically mentioned that the reason for scrutiny selection is “suspicious transactions relating to long-term capital gain on shares as per inputs from the investigation wing”. Accordingly, during the course of original assessment proceedings, the assessing officer, on the basis of return of income and submissions and evidences filed

Deep Energy Resources Ltd. (Formerly Deep Industries Ltd.), Ahmedabad vs. The ACIT, Circle-1(1)(1), Ahmedabad

In the result, the matter is restored to the file of Ld

ITA 461/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad29 Aug 2024AY 2016-17

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

For Appellant: Shri Sakar Sharma, A.RFor Respondent: Shri Ketan Gajjar, Sr. DR
Section 132Section 143(2)Section 143(3)Section 147Section 148Section 68Section 69C

paper concerns of Shri Shripal Vora, a famous entry operator. During the search under Section 132 of the Act done by the Investigation Wing on Shripal Vora, the statement of Shripal Vora was recorded. In his statement, Shri Shripal Vora categorically deposed that he is an accommodation entry provider through ... paper company and only entry provider. The said company was not found at it’s registered address during the enquiry conducted by the Investigation Wing. Accordingly, the Assessing Officer was of the view that Shri Shripal Vora is only the operator of these paper concerns and these company

Deputy Commissioner of Income Tax, Central Circle-1(4), Hyderabad vs. Pioneer Builders, Hyderabad

In the result, the appeals of Revenue in ITA Nos

ITA 64/HYD/2024[2019-20]Status: DisposedITAT Hyderabad29 Aug 2024AY 2019-20

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

For Appellant: Shri A.V. Raghuram, Advocate for assessee at Sl.Nos.1 to 3For Respondent: Date of Hearing
Section 127Section 132Section 133ASection 142(1)Section 143(2)Section 143(3)

Taxmann.com 64 (SC) has held that "no addition can be made on the basis of third-party information gathered by the Investigation Wing of the Department which has not been submitted to further verification by the Assessing Officer and he had not provided copy of such statement to the assessee ... tune of Rs.22,79,85,038/- based on the impounded material vide DSR/1. The total unaccounted receipts year wise as worked out by the investigation wing was as under : A.Y. Unaccounted receipts A.Y. 2019-20 Rs.3,98,96,489/- A.Y. 2020-21 Rs.18,80,88,549/- Further, during the course

Deputy Commissioner of Income Tax, Central Circle-1(4), Hyderabad vs. Pioneer Builders, Hyderabad

In the result, the appeals of Revenue in ITA Nos

ITA 57/HYD/2024[2020-21]Status: DisposedITAT Hyderabad29 Aug 2024AY 2020-21

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

For Appellant: Shri A.V. Raghuram, Advocate for assessee at Sl.Nos.1 to 3For Respondent: Date of Hearing
Section 127Section 132Section 133ASection 142(1)Section 143(2)Section 143(3)

Taxmann.com 64 (SC) has held that "no addition can be made on the basis of third-party information gathered by the Investigation Wing of the Department which has not been submitted to further verification by the Assessing Officer and he had not provided copy of such statement to the assessee ... tune of Rs.22,79,85,038/- based on the impounded material vide DSR/1. The total unaccounted receipts year wise as worked out by the investigation wing was as under : A.Y. Unaccounted receipts A.Y. 2019-20 Rs.3,98,96,489/- A.Y. 2020-21 Rs.18,80,88,549/- Further, during the course

Deputy Commissioner of Income Tax, Central Circle-1(4), Hyderabad vs. Pioneer Builders, Hyderabad

In the result, the appeals of Revenue in ITA Nos

ITA 56/HYD/2024[2019-20]Status: DisposedITAT Hyderabad29 Aug 2024AY 2019-20

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

For Appellant: Shri A.V. Raghuram, Advocate for assessee at Sl.Nos.1 to 3For Respondent: Date of Hearing
Section 127Section 132Section 133ASection 142(1)Section 143(2)Section 143(3)

Taxmann.com 64 (SC) has held that "no addition can be made on the basis of third-party information gathered by the Investigation Wing of the Department which has not been submitted to further verification by the Assessing Officer and he had not provided copy of such statement to the assessee ... tune of Rs.22,79,85,038/- based on the impounded material vide DSR/1. The total unaccounted receipts year wise as worked out by the investigation wing was as under : A.Y. Unaccounted receipts A.Y. 2019-20 Rs.3,98,96,489/- A.Y. 2020-21 Rs.18,80,88,549/- Further, during the course

Deputy Commissioner of Income Tax, Central Circle-1(4), Hyderabad vs. Dsr Infrastructure Private Limited, Hyderabad

In the result, the appeals of Revenue in ITA Nos

ITA 54/HYD/2024[2020-21]Status: DisposedITAT Hyderabad29 Aug 2024AY 2020-21

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

For Appellant: Shri A.V. Raghuram, Advocate for assessee at Sl.Nos.1 to 3For Respondent: Date of Hearing
Section 127Section 132Section 133ASection 142(1)Section 143(2)Section 143(3)

Taxmann.com 64 (SC) has held that "no addition can be made on the basis of third-party information gathered by the Investigation Wing of the Department which has not been submitted to further verification by the Assessing Officer and he had not provided copy of such statement to the assessee ... tune of Rs.22,79,85,038/- based on the impounded material vide DSR/1. The total unaccounted receipts year wise as worked out by the investigation wing was as under : A.Y. Unaccounted receipts A.Y. 2019-20 Rs.3,98,96,489/- A.Y. 2020-21 Rs.18,80,88,549/- Further, during the course

Deputy Commissioner of Income Tax, Central Circle-1(4), Hyderabad vs. Dsr Infrastructure Private Limited, Hyderabad

In the result, the appeals of Revenue in ITA Nos

ITA 53/HYD/2024[2019-20]Status: DisposedITAT Hyderabad29 Aug 2024AY 2019-20

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

For Appellant: Shri A.V. Raghuram, Advocate for assessee at Sl.Nos.1 to 3For Respondent: Date of Hearing
Section 127Section 132Section 133ASection 142(1)Section 143(2)Section 143(3)

Taxmann.com 64 (SC) has held that "no addition can be made on the basis of third-party information gathered by the Investigation Wing of the Department which has not been submitted to further verification by the Assessing Officer and he had not provided copy of such statement to the assessee ... tune of Rs.22,79,85,038/- based on the impounded material vide DSR/1. The total unaccounted receipts year wise as worked out by the investigation wing was as under : A.Y. Unaccounted receipts A.Y. 2019-20 Rs.3,98,96,489/- A.Y. 2020-21 Rs.18,80,88,549/- Further, during the course

D S R Infrastructure Private Limited, Hyderabad vs. DCIT., Central Circle-1(4), Hyderabad

In the result, the appeals of Revenue in ITA Nos

ITA 51/HYD/2024[2020-21]Status: DisposedITAT Hyderabad29 Aug 2024AY 2020-21

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

For Appellant: Shri A.V. Raghuram, Advocate for assessee at Sl.Nos.1 to 3For Respondent: Date of Hearing
Section 127Section 132Section 133ASection 142(1)Section 143(2)Section 143(3)

Taxmann.com 64 (SC) has held that "no addition can be made on the basis of third-party information gathered by the Investigation Wing of the Department which has not been submitted to further verification by the Assessing Officer and he had not provided copy of such statement to the assessee ... tune of Rs.22,79,85,038/- based on the impounded material vide DSR/1. The total unaccounted receipts year wise as worked out by the investigation wing was as under : A.Y. Unaccounted receipts A.Y. 2019-20 Rs.3,98,96,489/- A.Y. 2020-21 Rs.18,80,88,549/- Further, during the course

DCIT., Central Circle-1(4), Hyderabad vs. Dsr Infrastructure Private Limited, Hyderabad

In the result, the appeals of Revenue in ITA Nos

ITA 50/HYD/2024[2019-20]Status: DisposedITAT Hyderabad29 Aug 2024AY 2019-20

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

For Appellant: Shri A.V. Raghuram, Advocate for assessee at Sl.Nos.1 to 3For Respondent: Date of Hearing
Section 127Section 132Section 133ASection 142(1)Section 143(2)Section 143(3)

Taxmann.com 64 (SC) has held that "no addition can be made on the basis of third-party information gathered by the Investigation Wing of the Department which has not been submitted to further verification by the Assessing Officer and he had not provided copy of such statement to the assessee ... tune of Rs.22,79,85,038/- based on the impounded material vide DSR/1. The total unaccounted receipts year wise as worked out by the investigation wing was as under : A.Y. Unaccounted receipts A.Y. 2019-20 Rs.3,98,96,489/- A.Y. 2020-21 Rs.18,80,88,549/- Further, during the course

D S R Infrastructureprivate Limited, Hyderabad vs. DCIT., Central Circle- 1(4), Hyderabad

In the result, the appeals of Revenue in ITA Nos

ITA 49/HYD/2024[2019-20]Status: DisposedITAT Hyderabad29 Aug 2024AY 2019-20

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

For Appellant: Shri A.V. Raghuram, Advocate for assessee at Sl.Nos.1 to 3For Respondent: Date of Hearing
Section 127Section 132Section 133ASection 142(1)Section 143(2)Section 143(3)

Taxmann.com 64 (SC) has held that "no addition can be made on the basis of third-party information gathered by the Investigation Wing of the Department which has not been submitted to further verification by the Assessing Officer and he had not provided copy of such statement to the assessee ... tune of Rs.22,79,85,038/- based on the impounded material vide DSR/1. The total unaccounted receipts year wise as worked out by the investigation wing was as under : A.Y. Unaccounted receipts A.Y. 2019-20 Rs.3,98,96,489/- A.Y. 2020-21 Rs.18,80,88,549/- Further, during the course

Ram Awatar Dhoot, Kolkata vs. Ward 22(4) Kolkata, Kolkata

In the result, the appeal of the assessee stands allowed

ITA 91/KOL/2024[2015-16]Status: DisposedITAT Kolkata29 Aug 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.91/Kol/2024 Assessment Year: 2015-16 Ram Awatar Dhoot…...…………….....……………………....………....Appellant 29B, Rabindra Sarani Floor, Room No.10E, Kolkata-700073. [Pan: Adepd7419F] Vs. Ito, Ward-22(4), Kolkata…...................................................…..…..... Respondent Appearances By: Shri Ram Awatar Dhoot, Self, Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit- Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : August 27, 2024 Date Of Pronouncing The Order : August 29, 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 26.12.2023 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 Has Agitated Against The Levy/Confirmation Of Penalty U/S 271(1)(C) Of The Act. 3. The Brief Facts Of The Case Are That The Assessee Had Claimed Long- Term Capital Gains On Account Of Sale Of Shares At Rs.14,94,407/-. During The Assessment Proceedings, The Assessee Produced Relevant Documents To Substantiate His Claim, However, The Assessing Officer Held That As Per The Report Received From The Investigation Wing, There

Section 250Section 271(1)(c)

assessment proceedings, the assessee produced relevant documents to substantiate his claim, however, the Assessing Officer held that as per the report received from the Investigation Wing, there I.T.A. No.91/Kol/2024 Assessment Year: 2015-16 Ram Awatar Dhoot was large scale price rigging of certain scrips, whereby, the bogus long- term capital ... Online Calcutta 1572 confirmed the addition made by the Assessing Officer observing that in the light of the report of the investigation wing, there were preponderance of probabilities of the long-term capital gains being claimed as bogus. The Assessing Officer also initiated penalty proceedings

Narendra Kumar Agrawal, Burhanpur vs. PCIT Indore-1, Indore

In the result, appeal of the assessee is allowed

ITA 345/IND/2024[2016-17]Status: DisposedITAT Indore29 Aug 2024AY 2016-17

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaninarendra Kumar Agrawal Pcit (1) 203, Ck Campus Aaykar Bhawan Bahadarpur Road Vs. Indore Burhanpur (Appellant / Assessee) (Respondent/ Revenue) Pan: Adapa0131B Assessee By Shri S.N. Agrawal & Pankaj Mogra, Ars Revenue By Shri Ram Kumar Yadav, Cit-Dr Date Of Hearing 20.08.2024 Date Of Pronouncement 29.08.2024

Section 142(1)Section 143(3)Section 144BSection 147Section 148Section 263

through M/s Xpro Securities. The Pr. CIT has highlighted the crucial facts in show cause notice that during the investigation carried out by Mumbai Investigation wing the entity of M/s Xpro security was found to be providing bogus entries of loss/profit. The assesse has not complied with the show cause