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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

DCIT CC 4(4), Mumbai vs. Sanman Trade Impex Limited, Mumbai

The appeal of the Revenue is dismissed

ITA 3602/MUM/2023[2017-18]Status: DisposedITAT Mumbai24 Jul 2024AY 2017-18

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Investigation Wing regarding a survey conducted on Veritas Group on 23.03.2021. The AO has referred to new revelations emerging from the survey, the bogus claim

Sanman Trade Impex Limited, Mumbai vs. Assistant Commissioner of Income Tax Central Circle-4(4), Mumbai

ITA 3491/MUM/2023[2014-15]Status: DisposedITAT Mumbai24 Jul 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Investigation Wing regarding a survey conducted on Veritas Group on 23.03.2021. The AO has referred to new revelations emerging from the survey, the bogus claim ... true and complete manner during the original proceedings. In any case, the AO has been in receipt of fresh tangible material from the Investigation Wing. Hence, I am unable to uphold the view of the appellant that this tantamount to change of opinion. This view of mine also finds support

Sanman Trade Impex Limited, Mumbai vs. Assistant Commissioner of Income Tax-Central Circle 4(4), Mumbai

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

ITA 3474/MUM/2023[2015-16]Status: DisposedITAT Mumbai24 Jul 2024AY 2015-16

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Dr. Kishor Dhule, CIT-DRFor Respondent: Mr. Rakesh Joshi
Section 143(3)Section 69C

have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Investigation Wing is seen that the AO has received information from the Investigation Wing is seen that the AO has received information from the Investigation Wing regarding a survey ... been in receipt of fresh tangible material from the Investigation the AO has been in receipt of fresh tangible material from the Investigation Wing. Hence, I am unable to Wing. Hence, I am unable to uphold the view of the appellant that this uphold the view of the appellant that

Sanman Trade Impex Limited, Mumbai vs. Assistant Commissioner of Income Tax Central Circle-4(4), Mumbai

ITA 3473/MUM/2023[2016-17]Status: DisposedITAT Mumbai24 Jul 2024AY 2016-17

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Investigation Wing regarding a survey conducted on Veritas Group on 23.03.2021. The AO has referred to new revelations emerging from the survey, the bogus claim

Sanman Trade Impex Limited, Mumbai vs. Assistant Commissioner of Income Tax Central Circle-4(4), Mumbai

ITA 3472/MUM/2023[2017-18]Status: DisposedITAT Mumbai24 Jul 2024AY 2017-18

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Investigation Wing regarding a survey conducted on Veritas Group on 23.03.2021. The AO has referred to new revelations emerging from the survey, the bogus claim

Sanman Trade Impex Limited, Mumbai vs. Assistant Commissioner of Income Taxcentral Circle-4(4), Mumbai

In the result, appeals of the Revenue are dismissed whereas

ITA 3471/MUM/2023[2020-21]Status: DisposedITAT Mumbai24 Jul 2024AY 2020-21

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Investigation Wing regarding a survey conducted on Veritas Group on 23.03.2021. The AO has referred to new revelations emerging from the survey, the bogus claim

Sanman Trade Impex Limited, Mumbai vs. Assistant Commissioner of Income Tax- Central Circle 4(4), Mumbai

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

ITA 3470/MUM/2023[2021-22]Status: DisposedITAT Mumbai24 Jul 2024AY 2021-22

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Dr. Kishor Dhule, CIT-DRFor Respondent: Mr. Rakesh Joshi
Section 143(3)Section 69C

have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Investigation Wing is seen that the AO has received information from the Investigation Wing is seen that the AO has received information from the Investigation Wing regarding a survey ... been in receipt of fresh tangible material from the Investigation the AO has been in receipt of fresh tangible material from the Investigation Wing. Hence, I am unable to Wing. Hence, I am unable to uphold the view of the appellant that this uphold the view of the appellant that

Deputy Commissioner of Income Tax Central Circle 16, Delhi vs. Umrao Hotels and Resorts Private Limited, Delhi

In the result, assessee’s appeal is allowed and the appeal preferred by the Revenue is dismissed

ITA 3045/DEL/2023[2018-19]Status: DisposedITAT Delhi24 Jul 2024AY 2018-19

Bench: Shri G. S. Pannu & Ms. Madhumita Royi.T.A. Nos. 2867 /Del/2023 (Assessment Year : 2018-19) Umrao Hotels & Resorts Vs. Acit Pvt. Ltd., The Umrao, Nh- Central Circle – 16 48, Vill Samalkha, Near Delhi Rajori Crossing, New Delhi – 110037 Pan: Aaacu 6777 D (Appellant) .. (Respondent) & I.T.A. Nos. 3045/Del/2023 (Assessment Year : 2018-19) Dcit Vs. Umrao Hotels & Resorts Central Circle – 16 Pvt. Ltd., The Umrao, Nh- Delhi-110055 48, Vill Samalkha, Near Rajori Crossing, New Delhi - 110037 Pan: Aaacu 6777 D

For Appellant: Shri S. C. Garg, C.AFor Respondent: Shri T. James Singson, CIT-D.R
Section 132Section 142(1)Section 143(2)Section 143(3)Section 153ASection 153CSection 250

this that a search and seizure operation under Section 132 of the Act was conducted in Kohli Tent Group of cases by the Investigation wing, New Delhi on 03.05.2018. During the course of assessment proceedings, the Assessing Officer of the searched person recorded satisfaction on 12.02.2021 that information contained ... Action under section 132 of the Income Tax Act was conducted in Kohli Tent Group of cases by the Investigation Wing, New Delhi on 03.05.2018. The AO of Shri Sumit Kohli, the case of Kohli Tent Group In whose case action under section 132 of the Income

Umrao Hotels and Resorts Pvt. Ltd., Delhi vs. ACIT, Central Circle-16, Delhi

In the result, assessee’s appeal is allowed and the appeal preferred by the Revenue is dismissed

ITA 2867/DEL/2023[2018-19]Status: DisposedITAT Delhi24 Jul 2024AY 2018-19

Bench: Shri G. S. Pannu & Ms. Madhumita Royi.T.A. Nos. 2867 /Del/2023 (Assessment Year : 2018-19) Umrao Hotels & Resorts Vs. Acit Pvt. Ltd., The Umrao, Nh- Central Circle – 16 48, Vill Samalkha, Near Delhi Rajori Crossing, New Delhi – 110037 Pan: Aaacu 6777 D (Appellant) .. (Respondent) & I.T.A. Nos. 3045/Del/2023 (Assessment Year : 2018-19) Dcit Vs. Umrao Hotels & Resorts Central Circle – 16 Pvt. Ltd., The Umrao, Nh- Delhi-110055 48, Vill Samalkha, Near Rajori Crossing, New Delhi - 110037 Pan: Aaacu 6777 D

For Appellant: Shri S. C. Garg, C.AFor Respondent: Shri T. James Singson, CIT-D.R
Section 132Section 142(1)Section 143(2)Section 143(3)Section 153ASection 153CSection 250

this that a search and seizure operation under Section 132 of the Act was conducted in Kohli Tent Group of cases by the Investigation wing, New Delhi on 03.05.2018. During the course of assessment proceedings, the Assessing Officer of the searched person recorded satisfaction on 12.02.2021 that information contained ... Action under section 132 of the Income Tax Act was conducted in Kohli Tent Group of cases by the Investigation Wing, New Delhi on 03.05.2018. The AO of Shri Sumit Kohli, the case of Kohli Tent Group In whose case action under section 132 of the Income

Hero Motocorp Ltd (As Successor of Hero Investment P.Ltd), New Delhi vs. DCIT, Circle 11(1), New Delhi

The appeal is allowed

ITA 1053/DEL/2023[2011-12]Status: DisposedITAT Delhi24 Jul 2024AY 2011-12

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2011-12

Section 143(3)

HHML) raising queries regarding the impugned transaction which was duly replied by them vide reply dated 17.03.2011. Ld. Sr. Counsel has submitted that the Investigation Wing of the Department having pan India jurisdiction was fully aware of the transaction of acquisition of shares by the appellant from Honda ... same to have no further tax implication, after thorough examination and due application of mind, inasmuch as no adverse inference was drawn by the Investigation Wing. 20.8 Ld. Sr. Counsel has submitted that on 18.03.2011, the appellant duly filed Form 15CA before the Income tax Department clearly specifying that

Gilt Commodities Pvt. Ltd., Kolkata vs. I.T.O., Ward-3(1), Kolkata

In the result, the appeal filed by the assessee is allowed

ITA 1447/KOL/2019[2014-15]Status: DisposedITAT Kolkata23 Jul 2024AY 2014-15

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

this assessee. It has also been mentioned in the ld. AO’s order that in the present case specific information was received from the Investigation Wing alleging that the said assessee was indulging in bogus/non-genuine trading of shares who earned long or short term capital gains. 1.2. Aggrieved with this ... allegation by the ld. AO that the penny stocks were prone to price rigging and there was an adverse report submitted by the Investigation Wing of the Income Tax Department in such cases of trading, which were allegedly meant to result in bogus losses. The ld. Counsel for the assessee

ACIT, New Delhi vs. M/S Seh Realtors Pvt. Ltd., New Delhi

In the result, the appeal of the assessee is allowed, cross objections of the assessee is allowed and appeal of the revenue is dismissed

ITA 2693/DEL/2017[2013-14]Status: DisposedITAT Delhi23 Jul 2024AY 2013-14

Bench: Shri C. N. Prasad & Shri M. Balaganeshseh Realtors Pvt. Ltd, Vs. Acit, F-88, Okhla Indl. Area, Central Circle-8, Phase-1, New Delhi New Delhi (Appellant) (Respondent) Pan:Aagcs7537M Acit, Vs. Seh Realtors Pvt. Ltd, Central Circle-8, F-88, Okhla Indl. Area, New Delhi Phase-1, New Delhi (Appellant) (Respondent) Pan:Aagcs7537M Co No. 9/Del/2022 (In Ita No.2693/Del/2017) (Assessment Year: 2013-14) Acit, Vs. Seh Realtors Pvt. Ltd, Central Circle-8, F-88, Okhla Indl. Area, New Delhi Phase-1, New Delhi (Appellant) (Respondent) Pan:Aagcs7537M

For Appellant: Shri M. P. Rastogi, AdvFor Respondent: Shri Dharm Veer Singh, CIT DR
Section 132Section 143(3)Section 153ASection 153DSection 7

Central Range, the ld. JCIT is involved in the search assessment proceedings right from the time of receipt of appraisal report from the Investigation Wing and is involved with the Ld. AO from time to time while issuing various questionnaires to the assessee. The ld. JCIT in Central Range also ... JCIT is involved with the search assessment proceedings right from the time of receipt of appraisal report from the Investigation Wing, still, the ld. JCIT, while granting the approval u/s 153D of the Act has to independently apply ITA No.2693/Del/2017 CO No. 9/Del/2022 SEH Realtors Pvt. Ltd his mind dehors

M/S. Seh Realtors Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed, cross objections of the assessee is allowed and appeal of the revenue is dismissed

ITA 2503/DEL/2017[2013-14]Status: DisposedITAT Delhi23 Jul 2024AY 2013-14

Bench: Shri C. N. Prasad & Shri M. Balaganeshseh Realtors Pvt. Ltd, Vs. Acit, F-88, Okhla Indl. Area, Central Circle-8, Phase-1, New Delhi New Delhi (Appellant) (Respondent) Pan:Aagcs7537M Acit, Vs. Seh Realtors Pvt. Ltd, Central Circle-8, F-88, Okhla Indl. Area, New Delhi Phase-1, New Delhi (Appellant) (Respondent) Pan:Aagcs7537M Co No. 9/Del/2022 (In Ita No.2693/Del/2017) (Assessment Year: 2013-14) Acit, Vs. Seh Realtors Pvt. Ltd, Central Circle-8, F-88, Okhla Indl. Area, New Delhi Phase-1, New Delhi (Appellant) (Respondent) Pan:Aagcs7537M

For Appellant: Shri M. P. Rastogi, AdvFor Respondent: Shri Dharm Veer Singh, CIT DR
Section 132Section 143(3)Section 153ASection 153DSection 7

Central Range, the ld. JCIT is involved in the search assessment proceedings right from the time of receipt of appraisal report from the Investigation Wing and is involved with the Ld. AO from time to time while issuing various questionnaires to the assessee. The ld. JCIT in Central Range also ... JCIT is involved with the search assessment proceedings right from the time of receipt of appraisal report from the Investigation Wing, still, the ld. JCIT, while granting the approval u/s 153D of the Act has to independently apply ITA No.2693/Del/2017 CO No. 9/Del/2022 SEH Realtors Pvt. Ltd his mind dehors

Ajay Kumar Mohapatra, Cuttack vs. Income Tax Officer, Ward1(1), Cuttack

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

ITA 233/CTK/2024[2011-12]Status: DisposedITAT Cuttack22 Jul 2024AY 2011-12

Bench: Shri George Mathanआयकर अऩीऱ सं/Ita No.233/Ctk/2024 (ननधाारण वषा / Assessment Year :2010-2011) Ajay Kumar Mohapatra, Vs Ito, Ward-1(1), Cuttack Prop: M/S Bhabani Motors (India) At:Omp Square,Market Complex Po: College Square, Cuttack Pan No. :Aeqpm 9570 F (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri P.R.Mohanty, Advocate राजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 22/07/2024 घोषणा की तारीख/Date Of Pronouncement : 22/07/2024 आदेश / O R D E R This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 07.11.2022 In Din & Order No.Itba/Nfac/S/250/2022-23/1047066961 (1) For The Assessment Year 2011-2012. 2. As Per The Office Note, There Is A Delay Of 501 Days In Filing The Present Appeal. In This Regard, The Assessee Has Filed An Application Along With Affidavit Stating Therein Sufficient Reasons For Condonation Of Delay, Which Ld. Sr. Dr Did Not Object To It. Looking To The Facts & Circumstances Of The Case & The Reasons Stated By The Assessee In The Affidavit For Delay, We Condone The Delay Of 501 Days In Filing The Present Appeal & Proceed To Dispose Off The Appeal Of The Assessee Finally.

For Appellant: Shri P.R.Mohanty, AdvocateFor Respondent: Shri S.C.Mohanty, Sr. DR
Section 144Section 148

status of individual for the assessment year 2011-2012. The case of the assessee was reopened on the basis of information received from the Investigation Wing that the actual turnover of the business is much more than that of disclosed by the assessee in the return filed for the year

Mrs. Neelam Agrawal, Kolkata vs. ITO, Ward-37(1), Kolkata

In the result, appeal of the assessee is allowed

ITA 756/KOL/2024[2015-16]Status: DisposedITAT Kolkata22 Jul 2024AY 2015-16

Bench: Dr. Manish Borad & Shri Pradip Kumar Choubeyi.T.A. No.756/Kol/2024 Assessment Year: 2015-16 Mrs. Neelam Agarwal ………. Appellant (Pan: Adcpa3772G) Vs. Income Tax Officer, Ward-37(1), Kolkata. ………… Respondent Appearances By: Shri Sunil Surana, Ar Appeared For Appellant. Shri Abhijit Kundu, , Addl. Cit, Dr Appeared For Respondent. Date Of Concluding The Hearing : 03.07.2024 Date Of Pronouncing The Order : 22.07.2024 Order Per Manish Borad: This Appeal Filed By The Assessee Pertaining To The Assessment Year (In Short “Ay”) 2015-16 Is Directed Against The Revision Order Passed U/S 263 Of The Income Tax Act, 1961 In Short The “Act”) By Ld. Pr. Commissioner Of Income-Tax, Kolkat-13 [In Short Ld. “Pr. Cit”] Dated 15.03.2024 Arising Out Of The Assessment Order U/S 147 R.W.S. 144B Of The Act By Ao, Nfac, Delhi Dated 27.03.2022. 2. Grounds Of Appeal Raised By The Assessee Read As Under: “1. For That The Ld. Pcit Erred In Revising The Reassessment Order Which Was Itself Invalid & Bad In Law As Sanction For Reopening Of Assessment Proceedings Was Not Taken From Prescribed Authority As Per Section 151. I.T.A. No. 756/Kol/2024 Neelam Agarwal, Ay : 2015-16

Section 144BSection 147Section 148Section 151Section 263

furnished return of income for AY 2015-16 on 24.08.2015 declaring total income of Rs.12,65,780/-. Thereafter, based on information provided by Investigation Wing that the assessee has entered into transaction in penny stock companies namely, AMM Page 2 of 11 I.T.A. No. 756/Kol/2024 Neelam Agarwal ... challenged the reopening proceeding also on the ground that the Ld. AO has simply carried out the proceeding on the basis of information of Investigation Wing and no independent application Page 3 of 11 I.T.A. No. 756/Kol/2024 Neelam Agarwal, AY : 2015-16 of mind and verification has been carried

Ashok Onkardas Bissa, Mumbai vs. Income Tax Officer, Ward 41(4)(1), Mumbai

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

ITA 1964/MUM/2024[2014-15]Status: DisposedITAT Mumbai22 Jul 2024AY 2014-15

Bench: Shri Prashant Maharishi, Am & Shri Anikesh Banerjee, Jm Ashok Onkardas Bissa Income Tax Officer, Ground Floor, Devikutir, Ward 41(4)(1) Anand Nagar, Caves Road, Kautilya Bhavan, Bkc, Vs. Jogeshwari East, Bandra (East), Mumbai-400 060 Mumbai-400 051 (Appellant) (Respondent) Pan No. Ahopb7169E

For Appellant: Ms. Sidhi Pawar, ARFor Respondent: Shri Manoj Sinha, Sr. DR
Section 143(3)

unexplained cash credit under section. 68 of the IT, Act, 1961 ignoring the admitted fact on record and categorical finding of investigation wing of the department that the appellant was one of the entity in the chain to facilitate the accommodation entries for providing Long Term Capital Gains (LTCG ... assessee has purchased shares of sunrise Asian limited @ Rs 491/- per shares despite it is a matter of common knowledge based on inquiry of Investigation wing that this script is sued for providing bogus long term capital gain to the beneficiaries. Ld AO should have made inquiry [1] from

DCIT Central, Bhopal vs. Sharad Sharma, Bhopal

ITA 309/IND/2023[2012-13]Status: DisposedITAT Indore19 Jul 2024AY 2012-13

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniit(Ss)A No. 29/Ind/2023 (Ay: 2010-11) It(Ss)A No. 32/Ind/2023 (Ay: 2015-16) Shri Sharad Sharma, Acit, Central, बनाम/ H-3B, Nishant Colony, Gwalior Vs. 74 Bunglows, (Stationed At Bhopal) Tt Nagar, Bhopal (Pan: Amzps9791D) (Assessee/Appellant) (Revenue/Respondent)

Section 132Section 132(4)Section 143(3)Section 153A

following grounds:- (i) The declaration is not supported by seized incriminating material (ii) The declaration is not backed by investigation by AO or by investigation wing (iii) The declaration was made under mental pressure as the wife of Shri Deepak Sharma was diagnosed with breast cancer and they were

DCIT Central, Bhopal vs. Sharad Sharma, Bhopal

ITA 304/IND/2023[2015-16]Status: DisposedITAT Indore19 Jul 2024AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniit(Ss)A No. 29/Ind/2023 (Ay: 2010-11) It(Ss)A No. 32/Ind/2023 (Ay: 2015-16) Shri Sharad Sharma, Acit, Central, बनाम/ H-3B, Nishant Colony, Gwalior Vs. 74 Bunglows, (Stationed At Bhopal) Tt Nagar, Bhopal (Pan: Amzps9791D) (Assessee/Appellant) (Revenue/Respondent)

Section 132Section 132(4)Section 143(3)Section 153A

following grounds:- (i) The declaration is not supported by seized incriminating material (ii) The declaration is not backed by investigation by AO or by investigation wing (iii) The declaration was made under mental pressure as the wife of Shri Deepak Sharma was diagnosed with breast cancer and they were

Deepa Gupta, Hyderabad vs. ACIT, Central Circle-3(1), Hyderabad

In the result, all the appeals are allowed

ITA 59/HYD/2023[2012-13]Status: DisposedITAT Hyderabad18 Jul 2024AY 2012-13

Bench: Shri Manjunatha G. & Shri K.Narasimha Chary

For Appellant: Advocate Narahari BiswalFor Respondent: Shri CH Rajeswara Reddy, DR
Section 10(38)Section 132Section 143Section 143(3)Section 153ASection 68

learned Assessing Officer. According to the learned CIT(A), there is incriminating material in the form of various statements and documents gathered by the investigation wing along with SEBI report and also the fact that during the course of search, the assessee could not furnish any details of the transactions

Laxmi Memorial Education Trust, Mangalore vs. Deputy Commissioner of Income Tax, Central Circle - 1, Mangalore

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 756/BANG/2024[2021-22]Status: DisposedITAT Bangalore18 Jul 2024AY 2021-22

Bench: Shri Chandra Poojari & Shri Soundararajan K.Assessment Year: 2021-22

For Appellant: Shri Srinivas Kamath, A.RFor Respondent: Ms. Neera Malhotra, D.R
Section 132

Phone numbers of students/ parents were available as on the date of the search. Laxmi Memorial Education Trust, Mangalore Page 13 of 108 Investigation wing not called them and made independent enquiry of the alleged payment of fees in cash during the search or post search enquiry. In Page ... Question No.8 of his sworn statement dated 06-07-2021) However Mr. Dilip Kumar has filed a letter dated 17-08-2021 before the investigation wing, which has been reproduced in page 21 of assessment order, clarified that he was started bleeding through his nose. The same brought