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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

M/S Fancy Enterprises, Kolkata vs. A.O. Cir. 32, Kolkata

In the result, the appeal of the assessee is allowed as per terms indicated above

ITA 797/KOL/2024[2013-14]Status: DisposedITAT Kolkata23 Aug 2024AY 2013-14

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm M/S Fancy Enterprises Ao,Circle-2 2, Ganesh Chandra, Income Tax Office Avenue, Bentick Street, 10B Middleton, Calcutta Vs. Commerce House West Bengal-700071 West Bengal-700 013 (Appellant) (Respondent) Pan No. Aaaff5111B Assessee By : Shri Sunil Surana, Ar Revenue By : Shri P.P. Barman, Dr Date Of Hearing: 09.07.2024 Date Of Pronouncement : 23.08.2024

For Appellant: Shri Sunil Surana, ARFor Respondent: Shri P.P. Barman, DR
Section 143Section 143(3)Section 147Section 148

Section 143(3) on 26th March, 2016, assessing income at ₹45,46,997/-. Subsequently, the learned Assessing Officer based on the information from the investigation wing about the alleged bogus purchase made by the assessee from various concerns, recorded the reasons for the alleged bogus purchase ... other hand, the learned Departmental Representative vehemently argued supporting the orders of lower authorities and stated that the investigation wing have found that the assessee has entered into the transactions of accommodation entry by way of taking bogus purchase bills in order to reduce the tax liability. 07. We have

Assisstant Commissioner of Income Tax, Circle 20(1), Mumbai vs. Jignesh Harshad Mehta, Mumbai

In the result, appeals of the assessee and revenue are partly allowed

ITA 3182/MUM/2024[2012-13]Status: DisposedITAT Mumbai23 Aug 2024AY 2012-13

Bench: Shri Pavan Kumar Gadale & Smt. Renu Jauhrijignesh Harshad Mehta V/S. National Faceless Appeal 16/40, 10Th Floor, बनाम Centre, Delhi Navjeevan Society, Mumbai Central, Mumbai-400008 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabpm4811C Appellant/अपीलार्थी .. Respondent/प्रतिवादी Assistant Commissioner Of V/S. Jignesh Harshad Mehta Income Tax, Circle 20(1) बनाम 16/40, 10Th Floor, 6Th Floor, Piramal Navjeevan Society, Mumbai Chambers, Lalbaug, Central, Lower Parel, Mumbai-400008 Mumbai-400012 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabpm4811C Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Madhur AggarwalFor Respondent: Shri Krishnakumar
Section 143(1)Section 143(3)Section 147Section 148Section 250Section 69C

appreciated the facts of the case and modus operandi as a detailed investigation has been carried out by the Investigation Wing in the case of Rajendra Jain or his group entities." 2. "Whether on the facts and in circumstances of the case ... total income of Rs. 10,42,328/-. The return was processed u/s 143(1) of the Act. Subsequently, the AO received information from the Investigation Wing regarding accommodation entries taken by the assessee from Rajendra Jain Group Concerns. Accordingly, the case was reopened u/s 148 of the Act. The assessee

Income Tax Officer 13(1)(1) Mumbai, Mumbai vs. Nirnay Commodities and Derivatives Pvt Ltd, Mumbai

ITA 3013/MUM/2024[2012]Status: HeardITAT Mumbai23 Aug 2024

Bench: Shri Prashant Maharishi & Shri Raj Kumar Chauhan

Section 133(6)Section 143Section 148Section 68

show cause notice was issued by the learned assessing officer on 13/12/2019 to the assessee wherein after the coordinate enquiry made by the various investigation wing of the Bhopal and Indore it was found that total credit of Rs. 285,946,275/– has been recorded in the books ... wherein huge credits have been appearing in various bank accounts for last several years. There was a coordinated enquiry being carried out by the investigation wing situated at various places such as Bhopal and Indore etc. The director of the assessee found a most convenient mode and stated that

Income Tax Officer 13(1)(1) Mumbai, Mumbai vs. Nirnay Commodities and Derivatives Pvt Ltd, Mumbai

In the result all the appeals filed by the assessing officer are allowed

ITA 3011/MUM/2024[2013]Status: HeardITAT Mumbai23 Aug 2024

Bench: Shri Prashant Maharishi & Shri Raj Kumar Chauhan

For Appellant: None
Section 133(6)Section 143Section 148Section 68

show cause notice was issued by the learned assessing officer on 13/12/2019 to the assessee wherein after the coordinate enquiry made by the various investigation wing of the Bhopal and Indore it was found that total credit of Rs. 285,946,275/– has been recorded in the books ... wherein huge credits have been appearing in various bank accounts for last several years. There was a coordinated enquiry being carried out by the investigation wing situated at various places such as Bhopal and Indore etc. The director of the assessee found a most convenient mode and stated that

Income Tax Officer 13(1)(1) Mumbai, Mumbai vs. Nirnay Commodities and Derivatives Pvt Ltd, Mumbai

In the result all the appeals filed by the assessing officer are allowed for statistical purposes

ITA 3010/MUM/2024[2012]Status: HeardITAT Mumbai23 Aug 2024

Bench: Shri Prashant Maharishi & Shri Raj Kumar Chauhan

For Appellant: NoneFor Respondent: Shri S. Srinivasu, CIT, DR & Shri
Section 133(6)Section 143Section 148Section 68

show cause notice was issued by the learned assessing officer on 13/12/2019 to the assessee wherein after the coordinate enquiry made by the various investigation wing of the Bhopal and Indore it was found that total credit of Rs. 285,946,275/– has been recorded in the books ... wherein huge credits have been appearing in various bank accounts for last several years. There was a coordinated enquiry being carried out by the investigation wing situated at various places such as Bhopal and Indore etc. The director of the assessee found a most convenient mode and stated that

Income Tax Officer 13(1)(1) Mumbai, Mumbai vs. Nirnay Commodities and Derivatives Pvt Ltd, Mumbai

In the result all the appeals filed by the assessing officer are allowed for statistical purposes

ITA 2962/MUM/2024[2011]Status: HeardITAT Mumbai23 Aug 2024

Bench: Shri Prashant Maharishi & Shri Raj Kumar Chauhan

For Appellant: NoneFor Respondent: Shri S. Srinivasu, CIT, DR & Shri
Section 133(6)Section 143Section 148Section 68

show cause notice was issued by the learned assessing officer on 13/12/2019 to the assessee wherein after the coordinate enquiry made by the various investigation wing of the Bhopal and Indore it was found that total credit of Rs. 285,946,275/– has been recorded in the books ... wherein huge credits have been appearing in various bank accounts for last several years. There was a coordinated enquiry being carried out by the investigation wing situated at various places such as Bhopal and Indore etc. The director of the assessee found a most convenient mode and stated that

Jignesh Harshad Mehta, Mumbai vs. Commissioner of Income Tax (Appeals), Delhi

In the result, appeals of the assessee and revenue are partly allowed

ITA 2680/MUM/2024[2012-13]Status: DisposedITAT Mumbai23 Aug 2024AY 2012-13

Bench: Shri Pavan Kumar Gadale & Smt. Renu Jauhrijignesh Harshad Mehta V/S. National Faceless Appeal 16/40, 10Th Floor, बनाम Centre, Delhi Navjeevan Society, Mumbai Central, Mumbai-400008 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabpm4811C Appellant/अपीलार्थी .. Respondent/प्रतिवादी Assistant Commissioner Of V/S. Jignesh Harshad Mehta Income Tax, Circle 20(1) बनाम 16/40, 10Th Floor, 6Th Floor, Piramal Navjeevan Society, Mumbai Chambers, Lalbaug, Central, Lower Parel, Mumbai-400008 Mumbai-400012 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabpm4811C Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Madhur AggarwalFor Respondent: Shri Krishnakumar
Section 143(1)Section 143(3)Section 147Section 148Section 250Section 69C

appreciated the facts of the case and modus operandi as a detailed investigation has been carried out by the Investigation Wing in the case of Rajendra Jain or his group entities." 2. "Whether on the facts and in circumstances of the case ... total income of Rs. 10,42,328/-. The return was processed u/s 143(1) of the Act. Subsequently, the AO received information from the Investigation Wing regarding accommodation entries taken by the assessee from Rajendra Jain Group Concerns. Accordingly, the case was reopened u/s 148 of the Act. The assessee

Mansukh Arjanbhai Sureja, Mumbai vs. DCIT, Circle 42(1)(1), Mumbai

In the result, appeals of the assessee are allowed

ITA 4347/MUM/2023[2012-13]Status: DisposedITAT Mumbai23 Aug 2024AY 2012-13

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sandeep Singh Karhail, Hon’Ble

For Appellant: Shri Hariom Tulsiyan, A/RFor Respondent: Smt. Sanyogita Nagpal & Smt. Mahita Nair, Sr. D/R
Section 69C

approval was granted. C. That the Ld. Assessing officer merely acted mechanically and made fishing and roving inquires on the information supplied by the investigation wing about an alleged penny stock without applying his own mind which is evident from the fact that she relied on incorrect data for reopening

Ramesh Jasubhai Patel, Ghatlodia, Ahmedabad vs. Income Tax Officer, Pratyaksha Kar Bhavan, Ambawadi

ITA 438/AHD/2024[2015-16]Status: DisposedITAT Ahmedabad22 Aug 2024AY 2015-16

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar, Accountnat Member आयकर अपील सं / Ita Nos. 436 To 438/Ahd/2024 िनधा%रण वष%/Assessment Year: 2012-13, 2013-14 & 2015-16 बनाम Ramesh Jasubhai Patel, Income Tax Officer, Vs. A/7, Satkar Bungalow, Ward 4(2)(3), Ghatlodia, Ahmedabad Ahmedabad Gujarat-380061 Pan : Akspp 7877 N अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) िनधा%(रती की ओर से / Assessee By : Shri Prakash D. Shah, Ar *+थ- की ओर से / Revenue By : Smt. Trupti Patel, Sr Dr सुनवाई की तारीख/Date Of Hearing : 20.08.2024 घोषणा की तारीख /Date Of Pronouncement: 22.08.2024

For Appellant: Shri Prakash D. Shah, ARFor Respondent: Smt. Trupti Patel, Sr DR
Section 142(1)Section 144Section 147Section 148Section 249(2)Section 250

individual who filed his return of income for the respective assessment years as tabulated above. Thereafter, based on the information received from the Investigation Wing of Income-tax Department in Ahmedabad, regarding tax evasion in the case of the assessee, proceedings u/s. 147 of the were initiated and notices

Ramesh Jasubhai Patel, Ghatlodia, Ahmedabad vs. Income Tax Officer, Pratyaksha Kar Bhavan, Ambawadi

ITA 437/AHD/2024[2013-14]Status: DisposedITAT Ahmedabad22 Aug 2024AY 2013-14

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar, Accountnat Member आयकर अपील सं / Ita Nos. 436 To 438/Ahd/2024 िनधा%रण वष%/Assessment Year: 2012-13, 2013-14 & 2015-16 बनाम Ramesh Jasubhai Patel, Income Tax Officer, Vs. A/7, Satkar Bungalow, Ward 4(2)(3), Ghatlodia, Ahmedabad Ahmedabad Gujarat-380061 Pan : Akspp 7877 N अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) िनधा%(रती की ओर से / Assessee By : Shri Prakash D. Shah, Ar *+थ- की ओर से / Revenue By : Smt. Trupti Patel, Sr Dr सुनवाई की तारीख/Date Of Hearing : 20.08.2024 घोषणा की तारीख /Date Of Pronouncement: 22.08.2024

For Appellant: Shri Prakash D. Shah, ARFor Respondent: Smt. Trupti Patel, Sr DR
Section 142(1)Section 144Section 147Section 148Section 249(2)Section 250

individual who filed his return of income for the respective assessment years as tabulated above. Thereafter, based on the information received from the Investigation Wing of Income-tax Department in Ahmedabad, regarding tax evasion in the case of the assessee, proceedings u/s. 147 of the were initiated and notices

Ramesh Jasubhai Patel, Ghatlodia, Ahmedabad vs. Income Tax Officer, Pratyaksha Kar Bhavan Ambawadi

ITA 436/AHD/2024[2012-13]Status: DisposedITAT Ahmedabad22 Aug 2024AY 2012-13

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar, Accountnat Member आयकर अपील सं / Ita Nos. 436 To 438/Ahd/2024 िनधा%रण वष%/Assessment Year: 2012-13, 2013-14 & 2015-16 बनाम Ramesh Jasubhai Patel, Income Tax Officer, Vs. A/7, Satkar Bungalow, Ward 4(2)(3), Ghatlodia, Ahmedabad Ahmedabad Gujarat-380061 Pan : Akspp 7877 N अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) िनधा%(रती की ओर से / Assessee By : Shri Prakash D. Shah, Ar *+थ- की ओर से / Revenue By : Smt. Trupti Patel, Sr Dr सुनवाई की तारीख/Date Of Hearing : 20.08.2024 घोषणा की तारीख /Date Of Pronouncement: 22.08.2024

For Appellant: Shri Prakash D. Shah, ARFor Respondent: Smt. Trupti Patel, Sr DR
Section 142(1)Section 144Section 147Section 148Section 249(2)Section 250

individual who filed his return of income for the respective assessment years as tabulated above. Thereafter, based on the information received from the Investigation Wing of Income-tax Department in Ahmedabad, regarding tax evasion in the case of the assessee, proceedings u/s. 147 of the were initiated and notices

Tej Organisers Pvt.Ltd., Ahmedabad vs. Income Tax Officer, Ward-4(1)(1), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 50/AHD/2022[2012-13]Status: DisposedITAT Ahmedabad22 Aug 2024AY 2012-13

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Biren Shah & Shri Gulab Thakor, A.RsFor Respondent: Shri Ashok Kumar Suthar, Sr. DR
Section 143(1)Section 143(3)Section 147Section 148Section 271(1)(c)Section 274

balance of a loan advance to Shri Kanaiyo Mahendrakumar Thakkar, reported by the appellant as Rs. 3,61,06,692/- and information from the Investigation Wing, Ahmedabad, which indicated a closing balance of Rs. 6,56,58,436/-. The AO rejected the appellant's explanation due to the lack

Anchita Properties Pvt. Ltd., Kolkata vs. ITO, Ward-12(1), Kolkata.

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

ITA 637/KOL/2024[2013-14]Status: DisposedITAT Kolkata22 Aug 2024AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 637/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Income Tax Officer,………………………….……Respondent Ward-12(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 & I.T.A. No. 1067/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Principal Commissioner Of Income Tax,…Respondent Pcit, Kolkata-2, Office Of The Income Tax Officer, Ward-12(1), Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069

Section 133(6)Section 139(1)Section 143(2)Section 143(3)Section 147Section 148Section 250Section 263Section 68

those entities have been used as intermediary for routing of unaccounted fund of different beneficiary parties. While examining the information disseminated by the investigation wing it is observed that the account of Smart Udyog A/c No. 1784000002215 was opened with Yes Bank Limited and funds were credited/debited in form ... duly recorded the reasons for re-opening the assessment. There was tangible material on record in form of information from Directorate of Investigation Wing, Kolkata and the ITO, Ward- 10(4), Kolkata to form a ‘reason to believe' that income has escaped assessment. The reopening of the assessment was found

Anchita Properties Pvt. Ltd., Kolkata vs. P.C.I.T., Kolkata - 2, Kolkata

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

ITA 1067/KOL/2024[2013-2014]Status: DisposedITAT Kolkata22 Aug 2024AY 2013-2014

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 637/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Income Tax Officer,………………………….……Respondent Ward-12(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 & I.T.A. No. 1067/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Principal Commissioner Of Income Tax,…Respondent Pcit, Kolkata-2, Office Of The Income Tax Officer, Ward-12(1), Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069

Section 133(6)Section 139(1)Section 143(2)Section 143(3)Section 147Section 148Section 250Section 263Section 68

those entities have been used as intermediary for routing of unaccounted fund of different beneficiary parties. While examining the information disseminated by the investigation wing it is observed that the account of Smart Udyog A/c No. 1784000002215 was opened with Yes Bank Limited and funds were credited/debited in form ... duly recorded the reasons for re-opening the assessment. There was tangible material on record in form of information from Directorate of Investigation Wing, Kolkata and the ITO, Ward- 10(4), Kolkata to form a ‘reason to believe' that income has escaped assessment. The reopening of the assessment was found

D G Land Developers Private Limited, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle -4(4), Central Range - 4, Mumbai

ITA 411/MUM/2024[2013-14]Status: DisposedITAT Mumbai22 Aug 2024AY 2013-14
Section 132Section 133ASection 143(3)Section 153CSection 234BSection 234CSection 274Section 43C

Unit D G Land Developers Pvt. Ltd. 5 ITA Nos. 411, 407, 404, 403 & 402/MUM/2024 आयकर अपीलीय औधकरण COME TAX TRIBUNA (AIU) of the Investigation Wing Income-tax Department, Mumbai intercepted him on 16.12.2916, at Mumbai Airport on his arrival. 4.1 Thereafter, a survey proceeding u/s 133A

D G Land Developers Private Limited, Mumbai vs. Deputy Commissioner of Income Tax Central Circle - 12(2)(1), Mumbai

ITA 407/MUM/2024[2014-15]Status: DisposedITAT Mumbai22 Aug 2024AY 2014-15

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

Section 132Section 133ASection 143(3)Section 153CSection 234BSection 234CSection 274Section 43C

Rs.12.26 lakhs while travelling from Delhi to Mumbai, by Spice Jet Flight SG-161 on 16.12.2016. The Air Intelligence Unit (AIU) of the Investigation Wing Income-tax Department, Mumbai intercepted him on 16.12.2916, at Mumbai Airport on his arrival. 4.1 Thereafter, a survey proceeding u/s 133A

D G Land Developers Private Limited, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle -4(4), Mumbai

In the result, the appeals of the assessee for assessment year

ITA 404/MUM/2024[2015-16]Status: DisposedITAT Mumbai22 Aug 2024AY 2015-16

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

For Respondent: Mr. Sanjeev Mehta a/w Saurabh
Section 132Section 4

Intelligence Unit D G Land Developers Pvt. Ltd. ITA Nos. 411, 407, 404, 403 & 402/MUM/2024 (AIU) of the Investiga (AIU) of the Investigation Wing Income-tax Department tax Department, Mumbai intercepted him on 16.12.2916, at Mumbai Airport on his arrival. intercepted him on 16.12.2916, at Mumbai Airport on his arrival

D G Land Developers Private Limited, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle -4(4), Mumbai

In the result, the appeals of the assessee for assessment year

ITA 403/MUM/2024[2016-17]Status: DisposedITAT Mumbai22 Aug 2024AY 2016-17

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

For Respondent: Mr. Sanjeev Mehta a/w Saurabh
Section 132Section 4

Intelligence Unit D G Land Developers Pvt. Ltd. ITA Nos. 411, 407, 404, 403 & 402/MUM/2024 (AIU) of the Investiga (AIU) of the Investigation Wing Income-tax Department tax Department, Mumbai intercepted him on 16.12.2916, at Mumbai Airport on his arrival. intercepted him on 16.12.2916, at Mumbai Airport on his arrival

D G Land Developers Private Limited, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle -4(4), Mumbai

In the result, the appeals of the assessee for assessment year

ITA 402/MUM/2024[2017-18]Status: DisposedITAT Mumbai22 Aug 2024AY 2017-18

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

For Respondent: Mr. Sanjeev Mehta a/w Saurabh
Section 132Section 4

Intelligence Unit D G Land Developers Pvt. Ltd. ITA Nos. 411, 407, 404, 403 & 402/MUM/2024 (AIU) of the Investiga (AIU) of the Investigation Wing Income-tax Department tax Department, Mumbai intercepted him on 16.12.2916, at Mumbai Airport on his arrival. intercepted him on 16.12.2916, at Mumbai Airport on his arrival

Komal Kumarpal Shah, Kalyan Thane vs. Income Tax Officer, Kalyan

In the result, the appeal is allowed

ITA 2856/MUM/2023[A.Y.2011-12]Status: DisposedITAT Mumbai22 Aug 2024

Bench: Ms Kavitha Rajagopal & Shri Ratnesh Nandan Sahayassessment Year: 2011-12 Komal Kumarpal Shah Income Tax Officer 403, Zozwala Complex, Ward 3 (2) Vs. Agra Road, Rani Mansion, Kalyan. - 421301 Murbad Road- 421301. Pan: Azups5227N (Appellant) (Respondent) Present For : Assessee By : Shri Subodh Ratnaparkhi, C. A. : Shri R. R. Makwana- Sr. D.R. Revenue By : 23 . 07 . 2024 Date Of Hearing : 22 . 08 . 2024 Date Of Pronouncement

For Appellant: Shri Subodh Ratnaparkhi, C. AFor Respondent: 23 . 07 . 2024
Section 10(38)Section 143(3)Section 147Section 148Section 250Section 68

Income Tax Act as unexplained cash credit u/s. 68 of the Act on the basis of the information received from the Investigation Wing wherein the modus operandi adopted by the penny stock dealers was given in detail. The AO has discussed this in the body of the assessment order