“investigation wing”

Laxmipati Impex Private Limited, Mumbai vs. ITO, Ward-1(2)(2), Mumbai

In the result appeal filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi (Am)

assessing officer of ₹ 980,000 on account of purchases made from Ankita enterprises has been made only on the basis og finding of the investigation Wing that party was engaged in providing bogus bills without actual sales. The assessee has produced the purchase bills, and ledger account of the above

Manju Hiralal Bafna, Mumbai vs. ITO 19(2)(3), Mumbai

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

shares for a consideration of Rs.4.22 crores and declared Long term capital gains of Rs.4.07 crores. Relying fully upon the report given by the Investigation wing, the AO took the view that the long term capital gain declared by the assessee on sale of shares of M/s Grandma Trading ... also issued further notice u/s 142(1) of the Act asking the assessee to explain the investments viz-a-viz the report of the investigation wing. The assessee duly filed her reply. But the assessing officer, referring to the poor fundamentals and investigation report, took the view that the long

Jitendra Udaylal Jain, Maharashtra vs. National Faceless Appeal Centre (NFAC), Delhi

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

Bench: Shri Pavan Kumar Gadale & Shri Girish Agrawal

return of income was processed u/s 143(1) of the Act. Subsequently, the AO has received information from Kolkata Investigation Wing on the shares traded by the assessee and the A.O after recording the reasons for reopening of assessment has issued notice u/sec 148 of the Act and the asssessee ... sale contract notes, bank statement and demat account, statements in respect of shares purchase and relied on the modus operandi, report of the Kolkata Investigation Wing, statements recorded in the survey operations U/sec 133A of the Act on the share brokers and has doubted the earning of long term capital

Indu Mahendra Shah (L/H of Late Shri Mahendra G. Shah), Mumbai vs. ACIT, Circle-20(2), Mumbai

Appeal are dismissed as being infructuous

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

income of the Assessee was accepted as the assessed income. Subsequently, on the basis of information received from Deputy Director of Income Tax (Investigation Wing), Unit-8(3), Mumbai, vide letter dated 23/03/2018, reassessment proceedings under Section 147 of the Act were initiated in the case of the Assessee ... year. The reasons recorded state that the re-assessment proceedings were initiated on the basis of report received from Deputy Director of Income Tax (Investigation Wing), Unit-8(3), Mumbai vide letter dated 23/03/2018. We note that the aforesaid report was not available with the Assessing Officer at the time

Income Tax Officer -19(2)(2), Mumbai vs. Khodiyar Impex, Mumbai

In the result, the appeal of the revenue is dismissed

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailincome Tax Officer- Vs. Khodiyar Impex 19(2)(2), 503, Piramal 15-A, Sopariwala Estate, Chambers, Income Tax Prasad Chambers Office, Parel, Compound, Opera House Maharashtra – 400012 Maharashtra- 400004 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aadfk2874R Appellant .. Respondent

Subsequently, the case was reopened by issuing of notice u/s 148 of the Act on 27.03.2014. The assessing officer received information from the Investigation wing Mumbai that P a g e | 3 Income Tax Officer-19(2)(2) Vs. Khodiyar Impex search and survey action was carried ... Investigation Wing, Mumbai on 03.10.2013 in the case of Bhanwarlal Jain Group who were involved in providing accommodation entries in the forms of issuing of bogus sales/purchase bills without supplying any goods. As per the list of the parties forwarded by the DGIT(Investigation) details of accommodation entries availed

Smt Pawan Paras Jain, Mumbai vs. Assessment Unit Income Tax Department, Mumbai

In the result, ITA No.1317/Mum/2024 is allowed for statistical purposes

Bench: Shri Anikesh Banerjee & Shri Gagan Goyal

persons whose testimony was relied upon for making impugned addition. 4. The learned lower authorities have grossly erred in relying on the report of Investigation Wing Kolkata without independently conducting any inquiry in the matter. 5. The learned lower authorities have grossly erred in making / upholding impugned addition of Rs.49

R Ramesh & Co., Mumbai vs. ACIT-19(3), Mumbai

In the result appeal of the assessee for assessment year 2012 – 13 is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

assessee based on information received from the Page 1 of 10 ITA No 106 & 107/MUM/2023 AY 2011-12 & 2012-13 M/s R Ramesh & co investigation wing that assessee has obtained bogus purchases from three bogus hawala parties of Rs. 8,034,771 which was added by the learned assessing officer

R Ramesh & Co., Mumbai vs. ACIT-19(3), Mumbai

In the result appeal of the assessee for assessment year 2012 – 13 is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

assessee based on information received from the Page 1 of 10 ITA No 106 & 107/MUM/2023 AY 2011-12 & 2012-13 M/s R Ramesh & co investigation wing that assessee has obtained bogus purchases from three bogus hawala parties of Rs. 8,034,771 which was added by the learned assessing officer