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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

Vishwanath Aggarwal, Delhi vs. The Addl. CIT, Central Range-05, Delhi

The appeals of the assessee are allowed and the penalty is deleted

ITA 617/DEL/2022[2012-13]Status: DisposedITAT Delhi26 Jul 2024AY 2012-13

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

For Appellant: Shri Sudesh Garg, Advocate &For Respondent: Ms Sapna Bhatia, CIT-DR
Section 132ASection 153ASection 269SSection 271DSection 271E

material on which huge reliance was placed. The penalties were levied solely by mechanically following the borrowed opinion of the DDIT(Inv.) or the Investigation wing without any independent application of mind. The penalties levied, therefore, are not sustainable in law or on facts. A compilation of the relevant cases ... made reference to the Addl. CIT for imposition of penalty u/s 27 ID & 27 IE based on the report of the Investigation Wing and no independent satisfaction was drawn by the AO. As the satisfaction of the AO was based on the report of the Investigation Wing

Vishwanath Aggarwal, Delhi vs. The Addl. CIT, Central Range-05, Delhi

The appeals of the assessee are allowed and the penalty is deleted

ITA 616/DEL/2022[2011-12]Status: DisposedITAT Delhi26 Jul 2024AY 2011-12

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

For Appellant: Shri Sudesh Garg, Advocate &For Respondent: Ms Sapna Bhatia, CIT-DR
Section 132ASection 153ASection 269SSection 271DSection 271E

material on which huge reliance was placed. The penalties were levied solely by mechanically following the borrowed opinion of the DDIT(Inv.) or the Investigation wing without any independent application of mind. The penalties levied, therefore, are not sustainable in law or on facts. A compilation of the relevant cases ... made reference to the Addl. CIT for imposition of penalty u/s 27 ID & 27 IE based on the report of the Investigation Wing and no independent satisfaction was drawn by the AO. As the satisfaction of the AO was based on the report of the Investigation Wing

Vishwanath Aggarwal, Delhi vs. The Addl. CIT, Central Range-05, Delhi

The appeals of the assessee are allowed and the penalty is deleted

ITA 615/DEL/2022[2010-11]Status: DisposedITAT Delhi26 Jul 2024AY 2010-11

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

For Appellant: Shri Sudesh Garg, Advocate &For Respondent: Ms Sapna Bhatia, CIT-DR
Section 132ASection 153ASection 269SSection 271DSection 271E

material on which huge reliance was placed. The penalties were levied solely by mechanically following the borrowed opinion of the DDIT(Inv.) or the Investigation wing without any independent application of mind. The penalties levied, therefore, are not sustainable in law or on facts. A compilation of the relevant cases ... made reference to the Addl. CIT for imposition of penalty u/s 27 ID & 27 IE based on the report of the Investigation Wing and no independent satisfaction was drawn by the AO. As the satisfaction of the AO was based on the report of the Investigation Wing

Vishwanath Aggarwal, Delhi vs. The Addl. CIT, Central Range-05, Delhi

The appeals of the assessee are allowed and the penalty is deleted

ITA 614/DEL/2022[2013-14]Status: DisposedITAT Delhi26 Jul 2024AY 2013-14

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

For Appellant: Shri Sudesh Garg, Advocate &For Respondent: Ms Sapna Bhatia, CIT-DR
Section 132ASection 153ASection 269SSection 271DSection 271E

material on which huge reliance was placed. The penalties were levied solely by mechanically following the borrowed opinion of the DDIT(Inv.) or the Investigation wing without any independent application of mind. The penalties levied, therefore, are not sustainable in law or on facts. A compilation of the relevant cases ... made reference to the Addl. CIT for imposition of penalty u/s 27 ID & 27 IE based on the report of the Investigation Wing and no independent satisfaction was drawn by the AO. As the satisfaction of the AO was based on the report of the Investigation Wing

Vishwanath Aggarwal, Delhi vs. The Addl. CIT, Central Range-05, Delhi

The appeals of the assessee are allowed and the penalty is deleted

ITA 613/DEL/2022[2011-12]Status: DisposedITAT Delhi26 Jul 2024AY 2011-12

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

For Appellant: Shri Sudesh Garg, Advocate &For Respondent: Ms Sapna Bhatia, CIT-DR
Section 132ASection 153ASection 269SSection 271DSection 271E

material on which huge reliance was placed. The penalties were levied solely by mechanically following the borrowed opinion of the DDIT(Inv.) or the Investigation wing without any independent application of mind. The penalties levied, therefore, are not sustainable in law or on facts. A compilation of the relevant cases ... made reference to the Addl. CIT for imposition of penalty u/s 27 ID & 27 IE based on the report of the Investigation Wing and no independent satisfaction was drawn by the AO. As the satisfaction of the AO was based on the report of the Investigation Wing

Vishwanath Aggarwal, Delhi vs. The Addl. CIT, Central Range-05, Delhi

The appeals of the assessee are allowed and the penalty is deleted

ITA 612/DEL/2022[2012-13]Status: DisposedITAT Delhi26 Jul 2024AY 2012-13

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

For Appellant: Shri Sudesh Garg, Advocate &For Respondent: Ms Sapna Bhatia, CIT-DR
Section 132ASection 153ASection 269SSection 271DSection 271E

material on which huge reliance was placed. The penalties were levied solely by mechanically following the borrowed opinion of the DDIT(Inv.) or the Investigation wing without any independent application of mind. The penalties levied, therefore, are not sustainable in law or on facts. A compilation of the relevant cases ... made reference to the Addl. CIT for imposition of penalty u/s 27 ID & 27 IE based on the report of the Investigation Wing and no independent satisfaction was drawn by the AO. As the satisfaction of the AO was based on the report of the Investigation Wing

Vishwanath Aggarwal, Delhi vs. The Addl. CIT, Central Range-05, Delhi

The appeals of the assessee are allowed and the penalty is deleted

ITA 611/DEL/2022[2010-11]Status: DisposedITAT Delhi26 Jul 2024AY 2010-11

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaitas No.611 To 618/Del/2022 Assessment Years: 2010-11, 2012-13, 2011-12,2013-14, 2010-11, 2011-12, 2012-13 & 2013-14 Vishwanath Aggarwal, Vs Addl. Cit, House No.98, Block C-2, Range-05, Janakpuri, Delhi. New Delhi – 110 058. Pan: Abxpa4825B (Appellant) (Respondent) Assessee By : Shri Sudesh Garg, Advocate & Shri Prince Bansal, Ca Revenue By : Ms Sapna Bhatia, Cit-Dr Date Of Hearing : 04.07.2024 Date Of Pronouncement : .07.2024 Order Per Anubhav Sharma, Jm: These Are Appeals Preferred By The Assessee Against The Orders Of The Commissioner Of Income Tax (Appeals) (Hereinafter Referred To As Ld. First Appellate Authority Or ‘The Ld. Faa’ For Short) In Appeals Filed Before Him Against The Penalty Orders Of The Ld. Assessing Officer (Hereinafter Referred To As The Ld. Ao, For Short). Further Details Of The Penalty Orders Of The Lower Authorities Are As Under:-

For Appellant: Shri Sudesh Garg, Advocate &For Respondent: Ms Sapna Bhatia, CIT-DR
Section 132ASection 153ASection 269SSection 271DSection 271E

material on which huge reliance was placed. The penalties were levied solely by mechanically following the borrowed opinion of the DDIT(Inv.) or the Investigation wing without any independent application of mind. The penalties levied, therefore, are not sustainable in law or on facts. A compilation of the relevant cases ... made reference to the Addl. CIT for imposition of penalty u/s 27 ID & 27 IE based on the report of the Investigation Wing and no independent satisfaction was drawn by the AO. As the satisfaction of the AO was based on the report of the Investigation Wing

ACIT Central Circle-2, Patna vs. Ahmad Ashfaque Karim, Patna

In the result, all the appeals of the revenue i

ITA 70/PAT/2021[2014-15]Status: DisposedITAT Patna25 Jul 2024AY 2014-15

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. Nos. 67 & 68/Pat/2021 Assessment Years: 2013-14 & 2014-15 Acit, Central Circle-2, Patna Vs. M/S. A1-Karim Educational Trust Katihar Lane, Bailey Road, Khajpura Patna-800014 (Pan: Aaatm6309G) (Appellant) (Respondent) &

For Appellant: Shri Sudipta Sannigrahi, C.AFor Respondent: Smt. Rinku Singh, CIT D/R
Section 250

through I.T.A. No. 67 & 68/Pat/2021, M/s. Al-Karim Educational Trust 69 & 70/Pat/2021 Nuzhat Nasreen & A.A. Karim Assessment Year: 2013-14 & 2014-15 4 the investigation wing, Delhi. Enquiry report has been forwarded by the ADIT (Inv.), Unit 1(1) Delhi. Result of the report is summarized as under: • As regards ... advance received allegedly in respect of sale of property House No. B-76, Khesara No. 635/245, village Jasola, New Delhi-110025 through the investigation wing, Delhi. Enquiry report has been forwarded by the ADIT (Inv.), Unit 1(1) Delhi. Result of the report is summarized as under: • As regards House

ACIT, Central Circle-2, Patna vs. Nuzhat Nasreen, L/H Ahmad Ashfaquekarim of Nuzhat Nasreen, Patna

In the result, all the appeals of the revenue i

ITA 69/PAT/2021[2014-15]Status: DisposedITAT Patna25 Jul 2024AY 2014-15

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. Nos. 67 & 68/Pat/2021 Assessment Years: 2013-14 & 2014-15 Acit, Central Circle-2, Patna Vs. M/S. A1-Karim Educational Trust Katihar Lane, Bailey Road, Khajpura Patna-800014 (Pan: Aaatm6309G) (Appellant) (Respondent) &

For Appellant: Shri Sudipta Sannigrahi, C.AFor Respondent: Smt. Rinku Singh, CIT D/R
Section 250

through I.T.A. No. 67 & 68/Pat/2021, M/s. Al-Karim Educational Trust 69 & 70/Pat/2021 Nuzhat Nasreen & A.A. Karim Assessment Year: 2013-14 & 2014-15 4 the investigation wing, Delhi. Enquiry report has been forwarded by the ADIT (Inv.), Unit 1(1) Delhi. Result of the report is summarized as under: • As regards ... advance received allegedly in respect of sale of property House No. B-76, Khesara No. 635/245, village Jasola, New Delhi-110025 through the investigation wing, Delhi. Enquiry report has been forwarded by the ADIT (Inv.), Unit 1(1) Delhi. Result of the report is summarized as under: • As regards House

ACIT, Central Circle-2, Patna vs. M/S Al-Karim Educational Trust, Patna

In the result, all the appeals of the revenue i

ITA 68/PAT/2021[2014-15]Status: DisposedITAT Patna25 Jul 2024AY 2014-15

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. Nos. 67 & 68/Pat/2021 Assessment Years: 2013-14 & 2014-15 Acit, Central Circle-2, Patna Vs. M/S. A1-Karim Educational Trust Katihar Lane, Bailey Road, Khajpura Patna-800014 (Pan: Aaatm6309G) (Appellant) (Respondent) &

For Appellant: Shri Sudipta Sannigrahi, C.AFor Respondent: Smt. Rinku Singh, CIT D/R
Section 250

through I.T.A. No. 67 & 68/Pat/2021, M/s. Al-Karim Educational Trust 69 & 70/Pat/2021 Nuzhat Nasreen & A.A. Karim Assessment Year: 2013-14 & 2014-15 4 the investigation wing, Delhi. Enquiry report has been forwarded by the ADIT (Inv.), Unit 1(1) Delhi. Result of the report is summarized as under: • As regards ... advance received allegedly in respect of sale of property House No. B-76, Khesara No. 635/245, village Jasola, New Delhi-110025 through the investigation wing, Delhi. Enquiry report has been forwarded by the ADIT (Inv.), Unit 1(1) Delhi. Result of the report is summarized as under: • As regards House

ACIT, Central Circle-2, Patna vs. M/S Al-Karim Educational Trust, Patna

In the result, all the appeals of the revenue i

ITA 67/PAT/2021[2013-14]Status: DisposedITAT Patna25 Jul 2024AY 2013-14

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. Nos. 67 & 68/Pat/2021 Assessment Years: 2013-14 & 2014-15 Acit, Central Circle-2, Patna Vs. M/S. A1-Karim Educational Trust Katihar Lane, Bailey Road, Khajpura Patna-800014 (Pan: Aaatm6309G) (Appellant) (Respondent) &

For Appellant: Shri Sudipta Sannigrahi, C.AFor Respondent: Smt. Rinku Singh, CIT D/R
Section 250

through I.T.A. No. 67 & 68/Pat/2021, M/s. Al-Karim Educational Trust 69 & 70/Pat/2021 Nuzhat Nasreen & A.A. Karim Assessment Year: 2013-14 & 2014-15 4 the investigation wing, Delhi. Enquiry report has been forwarded by the ADIT (Inv.), Unit 1(1) Delhi. Result of the report is summarized as under: • As regards ... advance received allegedly in respect of sale of property House No. B-76, Khesara No. 635/245, village Jasola, New Delhi-110025 through the investigation wing, Delhi. Enquiry report has been forwarded by the ADIT (Inv.), Unit 1(1) Delhi. Result of the report is summarized as under: • As regards House

Mohammad Lal Pasha, Warangal vs. Deputy Commissioner of Income Tax, Central Circle-2(4), Hyderabad

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

ITA 496/HYD/2024[2021-22]Status: DisposedITAT Hyderabad25 Jul 2024AY 2021-22

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

For Appellant: Shri A.V. Raghuram, AdvocateFor Respondent: Shri S. Mookambikeyan, Sr.A.R
Section 115BSection 132ASection 69

assessee carried the matter in appeal before the first appellate authority. Before the Ld.CIT(A), the assessee reiterated his arguments before the investigation wing and before the Assessing Officer and submitted that the cash belonging to Mr. Mohd Bashu Miya and he was carrying the money on behalf

Arif Mohammad, Warangal vs. DCIT., Central Circle-2(4), Hyderabad

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

ITA 495/HYD/2024[2021-22]Status: DisposedITAT Hyderabad25 Jul 2024AY 2021-22

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

For Appellant: Shri A.V. Raghuram, AdvocateFor Respondent: Shri S. Mookambikeyan, Sr.A.R
Section 115BSection 132ASection 69

assessee carried the matter in appeal before the first appellate authority. Before the Ld.CIT(A), the assessee reiterated his arguments before the investigation wing and before the Assessing Officer and submitted that the cash belonging to Mr. Mohd Bashu Miya and he was carrying the money on behalf

Hemantkumar Sumermal Bhansali, Mumbai vs. ACIT - 15(3), Matru Mandir Mumbai

In the result, appeal of the assessee is allowed

ITA 2181/MUM/2024[2009-10]Status: DisposedITAT Mumbai25 Jul 2024AY 2009-10

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

Section 133(6)Section 143(1)Section 148Section 69C

alone he has added the entire purchases of Rs.21,28,985/-. The ld. CIT(A) too has confirmed the said addition holding that the Investigation Wing has sent notices u/s.133(6) to these parties and which remain unserved and since, these parties appear in the list of hawala dealers identified ... impugned orders. The entire basis for making the addition on account of bogus purchases is that firstly, there was information received from Investigation Wing that sales tax department has published the list of hawala dealers. Assessee has also made purchases from following six parties during the year. Sr. Name

Ramesh Rikhavdas Shah, HUF, Mumbai vs. ACIT 24 (3), Mumbai

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

ITA 3546/MUM/2023[2014-15]Status: DisposedITAT Mumbai25 Jul 2024AY 2014-15

Bench: Justice (Retd.) Shri C.V. Bhadang, Hon’Ble & Shri B.R. Baskaran, Hon’Ble

For Appellant: Shri Mehul ShahFor Respondent: Smt. Mahita Nair, Sr.DR
Section 10(38)Section 68

respectively in the above said years and claimed exemption u/s 10(38) of the Act. 4. Subsequently, the AO received information from the Investigation Wing that the shares of M/s. Midland Polymers Limited is one of the penny stocks and its prices were manipulated by certain operators in order ... return filed by the assessee for the AY. 2015-16 was taken up for scrutiny. Based on the report received from the Investigation Wing, the AO held that the long term capital gains declared by the assessee is bogus in nature. Accordingly, he assessed the entire sale consideration received

Ramesh Rikhavdas Shah, HUF, Mumbai vs. ACIT 24 (3), Mumbai

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

ITA 3545/MUM/2023[2015-16]Status: DisposedITAT Mumbai25 Jul 2024AY 2015-16

Bench: Justice (Retd.) Shri C.V. Bhadang, Hon’Ble & Shri B.R. Baskaran, Hon’Ble

For Appellant: Shri Mehul ShahFor Respondent: Smt. Mahita Nair, Sr.DR
Section 10(38)Section 68

respectively in the above said years and claimed exemption u/s 10(38) of the Act. 4. Subsequently, the AO received information from the Investigation Wing that the shares of M/s. Midland Polymers Limited is one of the penny stocks and its prices were manipulated by certain operators in order ... return filed by the assessee for the AY. 2015-16 was taken up for scrutiny. Based on the report received from the Investigation Wing, the AO held that the long term capital gains declared by the assessee is bogus in nature. Accordingly, he assessed the entire sale consideration received

Neeraj Jain, Delhi vs. DCIT, Central Circle-31, New Delhi

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

ITA 1591/DEL/2023[2019-20]Status: DisposedITAT Delhi25 Jul 2024AY 2019-20

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Usassessment Year 2019-20

For Respondent: Shri Subhra Jyoti Chakraborty, CIT-DR
Section 131Section 132Section 143(2)Section 143(3)Section 153DSection 3Section 69A

made additions of remaining amount of Rs.1,32,61,467/-. While doing so, the AO observed that in the statement recorded before the Investigation Wing, the assessee had admitted undisclosed income of 5 Rs.1,20,00,000/-. The additions made by the AO was confirmed ... appreciation of facts. (b) The Statement of assessee before Investigation Wing does not form the basis of the action of the AO. The AO has not made addition of Rs.1,32,61,467/- on the basis of statement of the assessee. In fact neither the additions have been made based

M/S Dhanashree Developers P. Ltd., Mumbai vs. DCIT, New Delhi

In the result the appeal of the assessee is allowed

ITA 1848/DEL/2016[2010-11]Status: DisposedITAT Delhi25 Jul 2024AY 2010-11

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumarasstt. Year 2010-11 Dhanashree Developers P. Ltd. Vs. Dcit, Central 303, Western Edge-1, Western Circle-4, Express Highway, New Delhi. Above Metro Mall, Borivali (East) Mumbai 400066 Pan Aaccd6182F (Appellant) (Respondent)

For Appellant: Shri Tanzil Padvekar, AdvocateFor Respondent: Shri Ram Dhan Meena, Sr.DR
Section 143(2)Section 14A

assessee was given time to reconcile the accounts and file its reply. As per information received, statements of hawala dealers were recorded by the investigation wing of the Maharastra Sales Tax/VAT Department. The assessee failed to prove genuineness of purchases from hawala dealers. So, purchases amounting

Jitendra Kumar Jain(HUF), Kolkata vs. ITO, Ward-43(3), Kolkata

In the result, appeal of the assessee is allowed

ITA 22/KOL/2024[2012-13]Status: DisposedITAT Kolkata24 Jul 2024AY 2012-13

Bench: the start of the appellate proceedings or in course of appellate proceedings.”

Section 143(1)Section 143(3)Section 147Section 250Section 271(1)(c)

return of the assessee was duly processed under Section 143(1) of the Act. Subsequently, information from the Investigation Wing of the Department was received relating to misuse of stock exchange platform where the assessee’s name had been listed one of the beneficiary of accommodation entry in the garb

John Distilleries Pvt Ltd., Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 987/BANG/2023[2016-17]Status: DisposedITAT Bangalore24 Jul 2024AY 2016-17

Bench: Shri Chandra Poojari & Shri Keshav Dubey

discounts expenses and (2) Carriage outward expenses. In the said statement recorded u/s 131(1A) of the Act in the office of the investigation wing of the I T Department, the CMD of the Company had categorically stated that the company has maintained all the bills and vouchers related