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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. S. Ramashandra Setty & Sons, Hassan vs. Income Tax Officer, Ward-1, Hassan

In the result, appeal of the assessee in ITA

ITA 1156/BANG/2023[2017-18]Status: DisposedITAT Bangalore10 Jun 2024AY 2017-18

Bench: Shri Chandra Poojari & Shri Keshav Dubey

For Appellant: Shri C. Ramesh, A.RFor Respondent: Ms. Neera Malhotra, D.R
Section 115BSection 132(4)Section 250Section 69B

ITA Nos.1156 & 1163 to 1166/Bang/2023 M/s. S. Ramachandra Setty & Sons, Hassan IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE

Dharmendra Jayantilal Shah, Mumbai vs. ACIT-31(1), Mumbai

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

ITA 3897/MUM/2023[2013-14]Status: DisposedITAT Mumbai10 Jun 2024AY 2013-14

Bench: Shri Narender Kumar Choudhry, Judicialmember & Shri Girish Agrawal

For Appellant: Shri Rajkumar Singh, ARFor Respondent: Smt. Mahita Nair,Sr. DR
Section 10(38)Section 143(3)Section 147Section 148Section 68

income at Rs.20,80,080/-. Case of the assessee was re-opened by issuing notice u/s. 148, dated 27.01.2017 based on information from the investigation wing of the Department that, the assessee had transacted in certain shares characterised by the Department as penny scrips. After necessary investigation and examination, this ... conclusion by observing that there is unusual rise in the price of the shares sold by the assessee which has been investigated by the Investigation Wing of the Department to establish that cash has been routed from various accounts to provide accommodation to the assessee and that assessee has failed

Dharmendra Jayantilal Shah, Mumbai vs. ACIT-31(1), Mumbai

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

ITA 3879/MUM/2023[2014-15]Status: DisposedITAT Mumbai10 Jun 2024AY 2014-15

Bench: Shri Narender Kumar Choudhry, Judicialmember & Shri Girish Agrawal

For Appellant: Shri Rajkumar Singh, ARFor Respondent: Smt. Mahita Nair,Sr. DR
Section 10(38)Section 143(3)Section 147Section 148Section 68

income at Rs.20,80,080/-. Case of the assessee was re-opened by issuing notice u/s. 148, dated 27.01.2017 based on information from the investigation wing of the Department that, the assessee had transacted in certain shares characterised by the Department as penny scrips. After necessary investigation and examination, this ... conclusion by observing that there is unusual rise in the price of the shares sold by the assessee which has been investigated by the Investigation Wing of the Department to establish that cash has been routed from various accounts to provide accommodation to the assessee and that assessee has failed

Gouri Madan, New Delhi vs. ACIT, Central Circle-17, New Delhi

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

ITA 2816/DEL/2022[2017-18]Status: DisposedITAT Delhi10 Jun 2024AY 2017-18

Bench: Shri Kul Bharat & Shri M.Balaganesh[Assessment Year : 2017-18] Gouri Madan, Vs Ito, 19/14, East Punjabi Bagh, Ward-44(6), New Delhi-110026 New Delhi. Pan-Aospm7266A Appellant Respondent [Assessment Year : 2017-18] Gouri Madan, Vs Acit, 19/14, East Punjabi Bagh, Central Circle-17, New Delhi-110026 New Delhi. Pan-Aospm7266A Appellant Respondent Appellant By Shri Ashok Khandelwal, Ca & Shri Akash Khandelwal, Ca Respondent By Shri Vivek Kumar Upadhyay, Sr.Dr Date Of Hearing 09.04.2024 Date Of Pronouncement 10.06.2024

Section 132

present appeal are that a search and seizure operation u/s 132 of the Income Tax Act, 1961 (“the Act”) was carried out the Investigation Wing of the Income Tax Department on 22.10.2016. The residential premises of the assessee was also covered. Thereafter, the assessee filed her return of income, declaring

DCIT, New Delhi vs. M/S. Granada Services Pvt. Ltd., New Delhi

In the result, Appeal filed by the Revenue in ITA Nos

ITA 5379/DEL/2015[2012-13]Status: DisposedITAT Delhi10 Jun 2024AY 2012-13

Bench: Shamim Yahya & Sh. Yogesh Kumar U.S.Ita No. 5375/Del/2015, (A.Y. 2008-09) Dcit Vs. Granada Services Pvt. Ltd. Central Cirle-19, Room B-44, Malcha Marg, Chanakya No. 104, Ara Centre, E-2, Puri, Jhandewalan Extension New Delhi New Delhi Pan: Aaacg0361K

Section 10ASection 153A

services and infrastructural support to its customer. A search and seizure operation u/s 132 of the Income Tax Act, 1961 was conducted by the Investigation Wing of the department on 22.03.2012 in M/s Focus Energy Group of cases and simultaneously the appellant's premises at A- 37. Sector-60, Noida

DCIT, New Delhi vs. M/S. Granada Services Pvt. Ltd., New Delhi

In the result, Appeal filed by the Revenue in ITA Nos

ITA 5378/DEL/2015[2011-12]Status: DisposedITAT Delhi10 Jun 2024AY 2011-12

Bench: Shamim Yahya & Sh. Yogesh Kumar U.S.Ita No. 5375/Del/2015, (A.Y. 2008-09) Dcit Vs. Granada Services Pvt. Ltd. Central Cirle-19, Room B-44, Malcha Marg, Chanakya No. 104, Ara Centre, E-2, Puri, Jhandewalan Extension New Delhi New Delhi Pan: Aaacg0361K

Section 10ASection 153A

services and infrastructural support to its customer. A search and seizure operation u/s 132 of the Income Tax Act, 1961 was conducted by the Investigation Wing of the department on 22.03.2012 in M/s Focus Energy Group of cases and simultaneously the appellant's premises at A- 37. Sector-60, Noida

DCIT, New Delhi vs. M/S. Granada Services Pvt. Ltd., New Delhi

In the result, Appeal filed by the Revenue in ITA Nos

ITA 5377/DEL/2015[2010-11]Status: DisposedITAT Delhi10 Jun 2024AY 2010-11

Bench: Shamim Yahya & Sh. Yogesh Kumar U.S.Ita No. 5375/Del/2015, (A.Y. 2008-09) Dcit Vs. Granada Services Pvt. Ltd. Central Cirle-19, Room B-44, Malcha Marg, Chanakya No. 104, Ara Centre, E-2, Puri, Jhandewalan Extension New Delhi New Delhi Pan: Aaacg0361K

Section 10ASection 153A

services and infrastructural support to its customer. A search and seizure operation u/s 132 of the Income Tax Act, 1961 was conducted by the Investigation Wing of the department on 22.03.2012 in M/s Focus Energy Group of cases and simultaneously the appellant's premises at A- 37. Sector-60, Noida

DCIT, New Delhi vs. M/S. Granada Services Pvt. Ltd., New Delhi

In the result, Appeal filed by the Revenue in ITA Nos

ITA 5376/DEL/2015[2009-10]Status: DisposedITAT Delhi10 Jun 2024AY 2009-10

Bench: Shamim Yahya & Sh. Yogesh Kumar U.S.Ita No. 5375/Del/2015, (A.Y. 2008-09) Dcit Vs. Granada Services Pvt. Ltd. Central Cirle-19, Room B-44, Malcha Marg, Chanakya No. 104, Ara Centre, E-2, Puri, Jhandewalan Extension New Delhi New Delhi Pan: Aaacg0361K

Section 10ASection 153A

services and infrastructural support to its customer. A search and seizure operation u/s 132 of the Income Tax Act, 1961 was conducted by the Investigation Wing of the department on 22.03.2012 in M/s Focus Energy Group of cases and simultaneously the appellant's premises at A- 37. Sector-60, Noida

DCIT, New Delhi vs. M/S. Granada Services Pvt. Ltd., New Delhi

In the result, Appeal filed by the Revenue in ITA Nos

ITA 5375/DEL/2015[2008-09]Status: DisposedITAT Delhi10 Jun 2024AY 2008-09

Bench: Shamim Yahya & Sh. Yogesh Kumar U.S.Ita No. 5375/Del/2015, (A.Y. 2008-09) Dcit Vs. Granada Services Pvt. Ltd. Central Cirle-19, Room B-44, Malcha Marg, Chanakya No. 104, Ara Centre, E-2, Puri, Jhandewalan Extension New Delhi New Delhi Pan: Aaacg0361K

Section 10ASection 153A

services and infrastructural support to its customer. A search and seizure operation u/s 132 of the Income Tax Act, 1961 was conducted by the Investigation Wing of the department on 22.03.2012 in M/s Focus Energy Group of cases and simultaneously the appellant's premises at A- 37. Sector-60, Noida

DCIT, New Delhi vs. Iservices India Pvt. Ltd., New Delhi

In the result, Appeal filed by the Revenue in ITA Nos

ITA 5372/DEL/2015[2010-11]Status: DisposedITAT Delhi10 Jun 2024AY 2010-11

Bench: Shamim Yahya & Sh. Yogesh Kumar U.S.Ita No. 5375/Del/2015, (A.Y. 2008-09) Dcit Vs. Granada Services Pvt. Ltd. Central Cirle-19, Room B-44, Malcha Marg, Chanakya No. 104, Ara Centre, E-2, Puri, Jhandewalan Extension New Delhi New Delhi Pan: Aaacg0361K

Section 10ASection 153A

services and infrastructural support to its customer. A search and seizure operation u/s 132 of the Income Tax Act, 1961 was conducted by the Investigation Wing of the department on 22.03.2012 in M/s Focus Energy Group of cases and simultaneously the appellant's premises at A- 37. Sector-60, Noida

Ajay Bhagwati Chauhan, Mumbai vs. Deputy Commissioner of Income Tax, Circle-5(1)(1), Mumbai

ITA 752/MUM/2024[2014-15]Status: DisposedITAT Mumbai06 Jun 2024AY 2014-15

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

For Appellant: Shri Gaurav KabraFor Respondent: Shri Sunny Kachhwaha
Section 142(1)Section 143(1)Section 143(3)Section 250Section 69

view of the statements recorded under oath by the Director and staff of M/s. Nish Developers Pvt. Ltd, and the findings of the Investigation Wing. Accordingly, the sum of Rs.199.90 lakh was added to the total income of the assessee as undisclosed income ... make any addition on account of “on money”. The learned AR submitted that the AO has merely relied on the information received from the Investigation Wing and made no independent inquiry. 7. On the other hand, the learned Departmental Representative (“learned DR") vehemently relied upon the order passed

Gurvinder Singh Duggal, New Delhi vs. ACIT Central Circle-06, New Delhi

In the result, the appeals of the assessee are allowed

ITA 863/DEL/2021[2018-19]Status: DisposedITAT Delhi06 Jun 2024AY 2018-19

Bench: Shri M. Balaganesh & Shri Vimal Kumar

For Appellant: Shri Neeraj Mangla, CAFor Respondent: Ms. Anu Krishna Aggarwal, CIT DR
Section 115BSection 132Section 143(3)Section 153ASection 153DSection 154Section 250Section 69ASection 69C

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 his mind dehors the conclusions drawn either by the Investigation Wing

Gurvinder Singh Duggal, New Delhi vs. ACIT Central Circle-06, New Delhi

In the result, the appeals of the assessee are allowed

ITA 862/DEL/2021[2017-18]Status: DisposedITAT Delhi06 Jun 2024AY 2017-18

Bench: Shri M. Balaganesh & Shri Vimal Kumar

For Appellant: Shri Neeraj Mangla, CAFor Respondent: Ms. Anu Krishna Aggarwal, CIT DR
Section 115BSection 132Section 143(3)Section 153ASection 153DSection 154Section 250Section 69ASection 69C

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 his mind dehors the conclusions drawn either by the Investigation Wing

Gurvinder Singh Duggal, New Delhi vs. ACIT Central Circle-06, New Delhi

In the result, the appeals of the assessee are allowed

ITA 861/DEL/2021[2016-17]Status: DisposedITAT Delhi06 Jun 2024AY 2016-17

Bench: Shri M. Balaganesh & Shri Vimal Kumar

For Appellant: Shri Neeraj Mangla, CAFor Respondent: Ms. Anu Krishna Aggarwal, CIT DR
Section 115BSection 132Section 143(3)Section 153ASection 153DSection 154Section 250Section 69ASection 69C

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 his mind dehors the conclusions drawn either by the Investigation Wing

Gurvinder Singh Duggal, New Delhi vs. ACIT Central Circle-06, New Delhi

In the result, the appeals of the assessee are allowed

ITA 860/DEL/2021[2012-13]Status: DisposedITAT Delhi06 Jun 2024AY 2012-13

Bench: Shri M. Balaganesh & Shri Vimal Kumar

For Appellant: Shri Neeraj Mangla, CAFor Respondent: Ms. Anu Krishna Aggarwal, CIT DR
Section 115BSection 132Section 143(3)Section 153ASection 153DSection 154Section 250Section 69ASection 69C

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 his mind dehors the conclusions drawn either by the Investigation Wing

Sanjay Namdev Tilekar, Pune vs. Income Tax Officer, Ward 14(5) Pune, Pune

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 382/PUN/2024[2009-10]Status: DisposedITAT Pune05 Jun 2024AY 2009-10

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.382/Pun/2024 िनधा"रण वष" / Assessment Year: 2009-10 Sanjay Namdev Tilekar, Vs. Ito, Ward-14(5), Pune. Row House No.6, Manjari Green, Manjari Stud Farm, Phase One, Pune- 412307. Pan : Ahwpt3174F Appellant Respondent Assessee By : Shri Pramod S. Shingte Revenue By : Shri Sourabh Nayak Date Of Hearing : 29.05.2024 Date Of Pronouncement : 05.06.2024 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 28.03.2023 Passed By Ld Cit(A)/Nfac, Delhi For The Assessment Year 2009-10. 2. The Present Appeal Is Filed Belatedly With 281 Days. The Appellant Furnished An Affidavit Along With Death Certificate Of His Wife, Praying For Condonation Of Delay Of 281 Days In The Circumstances Mentioned Therein. Ld. Dr Could Not Controvert The Averments Made In The Above Affidavit. We Are Of The Considered

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Sourabh Nayak
Section 143(3)Section 147Section 148Section 250(6)Section 54BSection 55A

case and in law the Learned Assessing Officer erred in initiating the proceedings under section 147 solely on the basis of satisfaction of investigation wing and since there is no separate satisfaction recorded by the Assessing Officer, therefore the entire proceedings are void -ab-initio. 4. On the facts

ACIT-19(1), Mumbai vs. Adihemshree Financial, Rockside Apartment

In the result, all the appeals filed by the revenue are dismissed

ITA 936/MUM/2024[2014-15]Status: DisposedITAT Mumbai05 Jun 2024AY 2014-15

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

claimed the set-off of loss against the business income earned during the year. 7. Taking a leaf out of the report of Investigation Wing, Kolkata / SEBI / Investigation Wing, Mumbai, the Assessing Officer formed a belief that the promotors / brokers / operators have in collusion rigged the prices of shares ... hundred crores. It was also contended that the name of the assessee was not there in any of the enquiries made by the Investigation Wing, Kolkata, Investigation Wing, Mumbai / Investigation done by the SBEI. Strong reliance was placed on the decision of the Tribunal in the case of the sister

ACIT-19(1), Mumbai vs. Adihemshree Financial, Mumbai

In the result, all the appeals filed by the revenue are dismissed

ITA 935/MUM/2024[2015-16]Status: DisposedITAT Mumbai05 Jun 2024AY 2015-16

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

claimed the set-off of loss against the business income earned during the year. 7. Taking a leaf out of the report of Investigation Wing, Kolkata / SEBI / Investigation Wing, Mumbai, the Assessing Officer formed a belief that the promotors / brokers / operators have in collusion rigged the prices of shares ... hundred crores. It was also contended that the name of the assessee was not there in any of the enquiries made by the Investigation Wing, Kolkata, Investigation Wing, Mumbai / Investigation done by the SBEI. Strong reliance was placed on the decision of the Tribunal in the case of the sister

Nisha Goel, Delhi vs. Income Tax Officer, Ward 52(3), Ward

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

ITA 2767/DEL/2023[2012-13]Status: DisposedITAT Delhi04 Jun 2024AY 2012-13

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasadिनधा"रणवष"/Assessment Year: 2012-13

Section 144Section 147Section 151

reveals that there are three parts to it. In the first part, the AO has reproduced the precise information he has received from the Investigation Wing of the Revenue. This information is in the form of details of the amount of credit received, the payer, the payee, their respective banks ... accommodation entry given (sic giver)". The AO adds that the said accommodation was "a known entry operator" the source being "the report of the Investigation Wing". 21. The third and last part contains the conclusion drawn by the AO that in view of these facts, "the alleged transaction

Vipul Kumar Modi, Jaipur vs. Principal Commissioner of Income Tax, Jaipur -I

In the result, appeal of the assessee is allowed

ITA 310/JPR/2024[2016-2017]Status: DisposedITAT Jaipur03 Jun 2024AY 2016-2017

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Sidharth Ranka &For Respondent: Shri Anil Dhaka (CIT) a
Section 142(1)Section 143(1)Section 147Section 263

issue of bogus long term capital gain properly and failed to make inquiry / investigation which was required considering the detailed information received from the Investigation Wing in this case which covered various aspects such as introduction, identification of this penny stock company. detailed modus operand of obtaining of bogus LTCG ... favour of revenue, action taken by SEBI in this stock etc. 6.3 The AO failed to consider this detailed information received from the Investigation Wing, Mumbai. The AO did not make any inquiry from the penny stock companies, stock exchange, brokers etc. to examine the genuineness and correctness