← All Phrases

“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 Ashtech (India) Private Limited, Mumbai City vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Mumbai

ITA 3222/MUM/2023[2013-14]Status: DisposedITAT Mumbai25 Apr 2024AY 2013-14

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

information of entry of bogus expenses booked by the expenses booked by the assessee, received from the Investigation Win received from the Investigation Wing, the Assessing g, the Assessing Officer reopened the assessment by way of issue of notice u/s 148 Officer reopened the assessment by way of issue ... assessee. The assessee however submitted that the persons whose statement whose statement had been recorded by the Investigation been recorded by the Investigation Wing were not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase

M/S Ashtech (India) Private Limited, Mumbai vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Mumbai

ITA 3221/MUM/2023[2015-16]Status: DisposedITAT Mumbai25 Apr 2024AY 2015-16

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

information of entry of bogus expenses booked by the expenses booked by the assessee, received from the Investigation Win received from the Investigation Wing, the Assessing g, the Assessing Officer reopened the assessment by way of issue of notice u/s 148 Officer reopened the assessment by way of issue ... assessee. The assessee however submitted that the persons whose statement whose statement had been recorded by the Investigation been recorded by the Investigation Wing were not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase

M/S Ashtech (India) Private Limited, Mumbai City vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Mumbai

ITA 3220/MUM/2023[2014-15]Status: DisposedITAT Mumbai25 Apr 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

information of entry of bogus expenses booked by the expenses booked by the assessee, received from the Investigation Win received from the Investigation Wing, the Assessing g, the Assessing Officer reopened the assessment by way of issue of notice u/s 148 Officer reopened the assessment by way of issue ... assessee. The assessee however submitted that the persons whose statement whose statement had been recorded by the Investigation been recorded by the Investigation Wing were not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase

Jaynik Mahendrakumar Shah, Mumbai vs. ITO Ward 24 (2) (1), Mumbai

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

ITA 3169/MUM/2023[2013-14]Status: DisposedITAT Mumbai25 Apr 2024AY 2013-14

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2013-14 Jaynik Mahendrakumar Shah, Earlier Ito Ward 24(2)(2), Mumbai Flat No. 802, 8Th Floor, Now Ito Ward 24(2)(1), Vs. Arunodaya Chsl, Juhu Lane, Piramal Chambers, Opp. New Indiastaff Colony, Mumbai-400012. Andheri (W), Mumbai-400069. Pan No. Abups 6099 L Appellant Respondent Assessee By : Ms. Bhargavi Raval : Ms. Rajeshwari Menon, Dr Revenue By Date Of Hearing : 18/04/2024 : 25/04/2024 Date Of Pronouncement

For Appellant: Ms. Bhargavi Raval
Section 148Section 69C

allegedly received from Kolkata on the basis of the information allegedly received from Kolkata on the basis of the information allegedly received from Kolkata Investigation wing stating that the shares sold by the appellant are nvestigation wing stating that the shares sold by the appellant are nvestigation wing stating that

Assistant Commissioner of Income Tax Central Circle 1 (4) Mumbai, Pratishtha Bhavan Mumbai vs. Ashtech India Pvt Ltd (E-Filing), Ashtech House Mumbai

ITA 3028/MUM/2023[2018-19]Status: DisposedITAT Mumbai25 Apr 2024AY 2018-19

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

information of entry of bogus expenses booked by the expenses booked by the assessee, received from the Investigation Win received from the Investigation Wing, the Assessing g, the Assessing Officer reopened the assessment by way of issue of notice u/s 148 Officer reopened the assessment by way of issue ... assessee. The assessee however submitted that the persons whose statement whose statement had been recorded by the Investigation been recorded by the Investigation Wing were not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase

Assistant Commissioner of Income Tax Central Circle 1(4) Mumbai, Pratishtha Bhavan Mumbai vs. Ashtech India Pvt Ltd (E-Filing), Ashtech House Mumbai

ITA 3027/MUM/2023[2014-15]Status: DisposedITAT Mumbai25 Apr 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

information of entry of bogus expenses booked by the expenses booked by the assessee, received from the Investigation Win received from the Investigation Wing, the Assessing g, the Assessing Officer reopened the assessment by way of issue of notice u/s 148 Officer reopened the assessment by way of issue ... assessee. The assessee however submitted that the persons whose statement whose statement had been recorded by the Investigation been recorded by the Investigation Wing were not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase

Assistant Commissioner of Income Tax Central Circle 1(4) Mumbai, Pratishtha Bhavan Mumbai vs. Ashtech India Pvt Ltd (E-Filing), Ashtech House

ITA 3026/MUM/2023[2013-14]Status: DisposedITAT Mumbai25 Apr 2024AY 2013-14

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Dr. K. Shivaram &

information of entry of bogus expenses booked by the expenses booked by the assessee, received from the Investigation Win received from the Investigation Wing, the Assessing g, the Assessing Officer reopened the assessment by way of issue of notice u/s 148 Officer reopened the assessment by way of issue ... assessee. The assessee however submitted that the persons whose statement whose statement had been recorded by the Investigation been recorded by the Investigation Wing were not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase of the not responsible for or handling diesel purchase

Surya Diam, Gujarat vs. ACIT CC -1(3), Mumbai

The appeal of the assessee is allowed

ITA 452/MUM/2022[2015-16]Status: DisposedITAT Mumbai25 Apr 2024AY 2015-16

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Mr. Ashok Kumar Ambastha, DR
Section 251(2)

assessee shown income from business, import & export and trading of cut and polished & rough diamonds. Subsequently, the Assessing Officer received information from the Investigation Wing, Mumbai that during the course of search carried out on 11.10.2013 u/s 132(4) of the Income-tax Act, 1961 (in short

M/S. Navkar India, Surat vs. ACIT CC -1(3), Mumbai

The appeal of the assessee is allowed

ITA 450/MUM/2022[2015-16]Status: DisposedITAT Mumbai25 Apr 2024AY 2015-16

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

For Respondent: Mr. Suchek Anchaliya
Section 147Section 251(2)

assessee shown income from business, import & export and trading of cut and polished & rough diamonds. Subsequently, the Assessing Officer received information from the Investigation Wing, Mumbai that during the course of search carried out on 11.10.2013 u/s 132(4) of the Income-tax Act, 1961 (in short

Deputy Commissioner of Income -Tax, Central Circle-1(1), Ahmedabad vs. Sanjay Prataprai Mehta, Bhavnagar

In the result, appeal of the Department is dismissed

ITA 897/AHD/2023[2014-15]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2014-15

Bench: Shri Siddhartha Nautiyal & Shri Makarand Vasant Mahadeokar

For Appellant: Shri Sudhendu Das, CIT DRFor Respondent: Shri Tushar P Hemani, Sr. Advocate & Shri
Section 10(38)Section 271(1)(c)

under section 10(38), in a preplanned manner to evade taxes. The AO extensively relied upon the search and survey operations conducted by the Investigation Wing of the Income-tax Department in Kolkata, Delhi, Mumbai and Ahmedabad on penny stocks, which sets out the modus operandi adopted in the business ... following the judgment of Hon’ble Delhi High Court (Supra),we hold that in absence of any specific finding against the assessee in the investigation wing report, the assessee cannot be held to be guilty or linked to the wrong acts of the persons investigated as far as long-term

The DCIT, Central Circle-1, Vadodara vs. M/S. Safal Homes, Ahmedabad

ITA 90/AHD/2021[2011-12]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2011-12

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

For Appellant: Shri Vartik Chokshi, ARFor Respondent: Shri Sudhendu Das, CIT-DR
Section 132(4)Section 143(3)Section 147Section 148

assessee in subsequent years. 7.1. We also note that the Assessing Officer has relied on the third-party information gathered by the Investigation Wing of the Department without independently verifying the same information, and also the fact that the assessee has been denied the opportunity to cross-examine the witness ... rightfully deleted the addition. 8. The Ground Nos. 1 to 7, raised by Department are solely based on the statement recorded by the Investigation Wing and not independently verified by the Assessing Officer, hence the same are dismissed. Ground No.8 is general in nature and, hence, no need any independent

R. Shobha Lodha, Chennai vs. ITO, Non Crop. Ward 9(1), Chennai

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

ITA 1072/CHNY/2023[2016-17]Status: DisposedITAT Chennai24 Apr 2024AY 2016-17

Bench: Shri Mahavir Singhand Shri S.R. Raghunatha

For Appellant: Shri D. Anand, AdvocateFor Respondent: Shri D. Hema Bhupal, JCIT
Section 10(38)Section 147Section 148Section 68

value of Rs.9,51,795/-. On verification of ITR-1 filed by assessee, the AO noted from the investigation report of the investigation wing that this company is engaged in providing entry i.e., profit on sale of shares in the shape of Long Term Capital Gain, which is claimed

Kuldeep Kishore Sharma, Jaipur vs. Assistant Commissioner of Income Tax, Central Circle-2, Jaipur

ITA 602/JPR/2023[2018-19]Status: DisposedITAT Jaipur24 Apr 2024AY 2018-19

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

For Appellant: Shri S. R. Sharma (CA) &For Respondent: Shri Ajay Malik (CIT) a
Section 131Section 132(1)Section 143(1)Section 153CSection 69A

assessment proceedings. Further, during the post search enquiry in case of Shri Jaipal Singh, a statement of the appellant was also recorded by the Investigation Wing and in the said statement, the appellant has explained/clarified that he advanced ... Thus it is evident and verifiable from the seized record itself and also from the statement of the appellant recorded by the investigation wing that the amount of loans and advances were only Rs. 20,35,000/- and not Rs. 30,35,000/- as determined and assessed

Kuldeep Kishore Sharma, Jaipur vs. Assistant Commissioner of Income Tax, Central Circle-2, Jaipur

ITA 601/JPR/2023[2017-18]Status: DisposedITAT Jaipur24 Apr 2024AY 2017-18

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

For Appellant: Shri S. R. Sharma (CA) &For Respondent: Shri Ajay Malik (CIT) a
Section 131Section 132(1)Section 143(1)Section 153CSection 69A

assessment proceedings. Further, during the post search enquiry in case of Shri Jaipal Singh, a statement of the appellant was also recorded by the Investigation Wing and in the said statement, the appellant has explained/clarified that he advanced ... Thus it is evident and verifiable from the seized record itself and also from the statement of the appellant recorded by the investigation wing that the amount of loans and advances were only Rs. 20,35,000/- and not Rs. 30,35,000/- as determined and assessed

Aadesh Commodities Pvt Ltd, Mumbai Suburban vs. National Faceless Assessment Centre, Delhi

In the result, appeal in ITA No

ITA 4035/MUM/2023[2015-16]Status: DisposedITAT Mumbai24 Apr 2024AY 2015-16

Bench: Shri Anikesh Banerjee & Miss. Padmavathy.Saadesh Commodities Pvt Ltd Vs National Faceless Assessment 401, Satyam Tower, 90 Feet Centre, Delhi Road, Asha Nagar, Kandivali (E), Mumbai-400 101 Pan : Aahca3726H Appellant Respondent

For Appellant: Shri Jay BhansaliFor Respondent: Shri R.R. Makwana, JCIT
Section 115BSection 143(2)Section 143(3)Section 147Section 151Section 250Section 68

shares prices has fallen down sharply anc substantially. The Id. CIT(A) has also observed that the investigation carried out by the Investigation Wing at Kolkata has already brought into light about the nefarious activities indulged in by (he brokers who work as a conduit to provide accommodation entries

Rakesh Kumar Aggarwal, Delhi vs. ACIT, Delhi

In the result, the appeal of the assessee is allowed

ITA 1912/DEL/2021[2012-13]Status: DisposedITAT Delhi23 Apr 2024AY 2012-13

Bench: Dr. B. R. R. Kumarms. Astha Chandra

For Appellant: Sh. Amit Goel, CA &For Respondent: Sh. Amit Katoch, Sr. DR
Section 143(3)Section 147Section 148

intention to impact the tax liabilities of the pair of clients whose codes are modified. Thus, a careful scrutiny of information received from the investigation wings and analysis of report, data of transactions and verification of ITR/Assessment Record lead to an irresistible conclusion that Client Code Modification had brim earned ... failed to disclose fully and truly all the material facts necessary for its assessment. Thus, a careful scrutiny of information received from the investigation wing and analysis of report, data of transactions and verification of ITR/Assessment Record lead to an irresistible conclusion that. Client Code Modification had been earned

Manju Devi Shah, Kolkata vs. ITO, Ward-50(4), Kolkata.

In the result, the appeal of the assessee stands allowed

ITA 1280/KOL/2023[2010-11]Status: DisposedITAT Kolkata22 Apr 2024AY 2010-11

Bench: Shri Sanjay Gargi.T.A. No.1280/Kol/2023 Assessment Year: 2010-11 Manju Devi Shah……………..…..…......................…...……………....Appellant P-281 Scheme Vim Cit Road, Kankurgachi, Kolkata-700054. [Pan: Amkps3650G] Vs. Ito, Ward-50(4), Kolkata.......…..........................................…..…..... Respondent Appearances By: Shri A. K. Tibrewal, Fca, Appeared On Behalf Of The Appellant. Shri Bibekananda Madhu, Jcit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 29, 2024 Date Of Pronouncing The Order : April 22, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 12.10.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Apart From Challenging The Additions On Merits Made/Confirmed By The Lower Authorities Of Rs.42,12,703/- U/S 68 Of The Act By Treating The Long-Term Capital Gains Earned By The Assessee As Bogus, Has Also Challenged The Very Validity Of The Reopening Of The Assessment. 3. Since, The Legal Grounds Relating To The Validity Of The Reopening Of The Assessment Hit At The Very Jurisdiction Of The Assessing Officer To

Section 147Section 148Section 151Section 250Section 68

Reopening of the assessment is not permitted for making fishing and roving enquiries. The Assessing Officer, after receipt of alleged information received from the Investigation Wing was supposed to correlate the same with the records and other facts of the case and thereafter, should have satisfied himself of escapement

Shah Construction Company Ltd, Mumbai vs. Dy Commissioner of Income Tax, Central Circle-1(3), Mumbai

Appeal is allowed

ITA 859/MUM/2023[2008-09]Status: DisposedITAT Mumbai22 Apr 2024AY 2008-09

Bench: SHRI B.R. BASKARAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri M. SubramanianFor Respondent: Dr. Kishor Dhule
Section 143(1)Section 143(3)Section 147Section 148Section 234BSection 36(1)(iii)

waived off 4.1 It may be appreciated that the assessing officer has initiated the reassessment proceedings on the basis of information received from the Investigation Wing of the Department. It is held that the reopening proceedings are valid if reopened on the basis of information received from investigation wing

Mr Manish Rajnarain Goswami, Mumbai vs. Assessing Officer, Mumbai

In the result, appeal filed by the assessee is allowed

ITA 3960/MUM/2023[2011-12]Status: DisposedITAT Mumbai19 Apr 2024AY 2011-12

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Blemanish Rajnarain Goswami V. Income Tax Officer – 16(1)(3) Aayakar Bhavan, M.K. Road Metropolitan Chsl Mumbai - 400020 B-6 / B-8, Nargisdas Road Pali Hill, Bandra (W) Mumbai - 400050 Pan: Addpg7655D (Appellant) (Respondent) Assessee Represented By : Shri Vijay Mehta Department Represented By : Smt Mahita Nair

Section 143(1)Section 147Section 148Section 68

ADIT (Investigation), Kolkata is placed at Page Nos. 11 to 18 of the Paper Book. We have carefully perused the said report of the investigation wing. We find that there is a reference of 18 parties having bank accounts in ICICI bank Page No. 5 Manish Rajnarain Goswami wherein substantial ... material and the formation of the reasons to believe that income had escaped assessment. In the present case too, the information received from the Investigation Wing cannot be said to be tangible material per se without a further inquiry being undertaken by the AO". 13. Incidentally it would

Smt Pawanben Pannalal Gulecha, Mumbai vs. The ITO, Ward-18(2)(5), Mumbai

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

ITA 2844/MUM/2023[2010-2011]Status: DisposedITAT Mumbai19 Apr 2024AY 2010-2011
Section 10(38)Section 143(3)Section 147Section 148Section 68

confirmed the addition on same reasoning. Smt. Pawanben Pannalal Gulecha 9 Before us, ld. Counsel submitted that the findings and report of the Investigation wing and observation of the ld. AO are general observations without any specific reference to the transaction of the assessee or anything directly adverse against ... penny stock used for providing accommodation entry. 13. Though the case of the assessee has been reopened based on information received from Investigation wing that a search and seizure action was conducted in the case of Shri Shirish Chandrakant Shah on 09/04/2013 wherein it was found that he was controlling