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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

Assistant Commissioner of Income Tax, Central Circle -3(4), Hyderabad vs. Royal Engineering, Hyderabad

In the result, appeal of Revenue in ITA No

ITA 41/HYD/2021[2011-12]Status: DisposedITAT Hyderabad18 Oct 2023AY 2011-12

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Assistant Commissioner of Income Tax, Central Circle -3(4), Hyderabad vs. Royal Engineering, Hyderabad

In the result, appeal of Revenue in ITA No

ITA 40/HYD/2021[2010-11]Status: DisposedITAT Hyderabad18 Oct 2023AY 2010-11

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Ace Constructions, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 30/HYD/2021[2015-16]Status: DisposedITAT Hyderabad18 Oct 2023AY 2015-16

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Ace Constructions, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 29/HYD/2021[2013-14]Status: DisposedITAT Hyderabad18 Oct 2023AY 2013-14

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Ace Constructions, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 28/HYD/2021[2012-13]Status: DisposedITAT Hyderabad18 Oct 2023AY 2012-13

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Ace Constructions, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 27/HYD/2021[2011-12]Status: DisposedITAT Hyderabad18 Oct 2023AY 2011-12

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Ace Constructions, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 26/HYD/2021[2010-11]Status: DisposedITAT Hyderabad18 Oct 2023AY 2010-11

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Royal Engineering, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 18/HYD/2021[2015-16]Status: DisposedITAT Hyderabad18 Oct 2023AY 2015-16

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Royal Engineering, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 17/HYD/2021[2013-14]Status: DisposedITAT Hyderabad18 Oct 2023AY 2013-14

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Royal Engineering, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 16/HYD/2021[2012-13]Status: DisposedITAT Hyderabad18 Oct 2023AY 2012-13

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Royal Engineering, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 15/HYD/2021[2011-12]Status: DisposedITAT Hyderabad18 Oct 2023AY 2011-12

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Royal Engineering, Hyderabad vs. Deputy Commissioner of Income Tax Central Circle-3(4), Hyderabad

In the result, appeal of Revenue in ITA No

ITA 14/HYD/2021[2010-11]Status: DisposedITAT Hyderabad18 Oct 2023AY 2010-11

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्‍यर्थी / No.

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68

date given as 11.10.2019) retracting statement given by him during the search operation and now filed on 11.10.2019, which was never filed before the Investigation wing and the affidavit is filed after 2 years, which itself raises questions on its credibility and evidentiary value. h) The whole transactions were stated

Gajshkati Agrotech Private Limited, Mumbai vs. ITO, Ward 7(1)(1), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 1506/MUM/2023[2012-2013]Status: DisposedITAT Mumbai18 Oct 2023AY 2012-2013

Bench: Shri Aby T. Varkey, Jm & Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.1506/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) Gajshakti Agrotech Pvt. बिधम/ Ito, Ward-7(1)(1) Ltd. Aayakar Bhavan, Vs. Ground Floor, 414, Empire Churchgate, Mumbai- Business Centre Empire 400020. Industries Ltd. Senapati Bapat Marg, Lower Parel, Maharashtra- 400013. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabcg4838J (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Dharan Gandhi Revenue By: Shri Yogendra T Wakare (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 30/08/2023 घोषणा की तारीख /Date Of Pronouncement: 18/10/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Company Against The Order Of The Ld. Cit(A)/Nfac, Delhi Dated 26.03.2023 For Ay. 2012- 13. 2. The Main Grievance Of The Assessee Is Against The Action Of The Ld. Cit(A) Sustaining The Addition Of Rs.99,73,650/- On Account Of Speculation Profit Made By The Ao. 3. Brief Facts Are That The Assessee Company Was Engaged In The Business Of Manufacturing & Trading Of Agro Products & Other Commodities. The Assessee Filed Its Return Of Income On 29.09.2012 Declaring Loss Of Rs.2,85,374/-. Later, The Case Of The Assessee Was Selected For Scrutiny. & The Ao Noted That The Assessee Has Claimed Carry Forward Of Speculation Loss Of Rs.2,85,374/-. The Ao Asked The Assessee About The Details Of The Commodity Transaction Vide Order Sheet Noting Dated 13.01.2015. The Ao Notes That The Assessee Submitted Ledger Account Of Speculation Loss Wherein It Was Found

For Appellant: Shri Dharan GandhiFor Respondent: Shri Yogendra T Wakare (Sr. DR)
Section 133(6)

transfer of profit of some other client codes or by transfer of loss from some other client codes. According to the Ld. DR, the Investigation Wing of the revenue has found that fictitious profit and loss are created by some brokers by misusing the client code modification while doing sale

Saimandeep Industries of India, Ghaziabad vs. AO-Ward-51(92), Faridabad

In the result, the appeal of the assessee is allowed

ITA 1372/DEL/2022[2012-13]Status: DisposedITAT Delhi18 Oct 2023AY 2012-13

Bench: Chandra Mohan Garg & Shri Pradip Kumar Kedia

For Appellant: Shri Rakesh Garg, AdvFor Respondent: Ms. Meenakshi Dohre, Sr.DR
Section 147Section 271(1)(c)

return filed by the assessee was reopened under Section 147 of the Act having regard to the certain information obtained from the Investigation Wing of the Income Tax Department that the assessee is beneficiary of certain accommodation entries of bogus purchases. The assessee in the course of re-assessment proceedings

Hartron Sase Communications Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

In the result, the appeal of assessee is allowed in the manner as indicated above

ITA 1064/DEL/2018[2009-10]Status: DisposedITAT Delhi18 Oct 2023AY 2009-10

Bench: SHRI CHANDRA MOHAN GARG (Judicial Member), DR. B.R.R. KUMAR (Accountant Member)

For Appellant: Shri Anil Jain, CAFor Respondent: Shri Manish Tiwari, Sr. DR
Section 147Section 234ASection 68Section 69C

recorded for initiation of proceedings available at pages 24 to 26 of assessee paper book clearly reveals that the Assessing Officer received report of Investigation Wing New Delhi and thereafter evaluated contents thereof. The ld. Senior DR also submitted that during the course of search/survey action u/s. 132/133A ... point out that in para 3, the Assessing Officer directly jumped to record a conclusion that in view of the additional information/document received from Investigation Wing he has reason to believe that the assessee has willfully and knowingly concealed its particular of income to avoid the tax on the undisclosed

M/S. Premji Valji & Sons (Jewellers) P. Ltd., Rajkot vs. The DCIT, Circle - 2 (1), Rajkot

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

ITA 258/RJT/2022[2011-12]Status: DisposedITAT Rajkot18 Oct 2023AY 2011-12

Bench: Shri Waseem Ahmed (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

For Appellant: Shri R.D. Lalchandani, A.RFor Respondent: Shri V.J. Boricha, Sr. D.R
Section 132Section 143(3)Section 147Section 148Section 250

seen from the above that the AO has very systematically brought on record the information received by him from the Investigation Wing, Mumbai and I.T.A No. 258/Rjt/2022 A.Y. 2011-12 Page No 4 M/s. Premji Valji & Sons (Jewellers) Pvt. Ltd. vs. DCIT also pointed out that the belief has been ... noted that the reopening and subsequent addition is based on specific information received by the AO from the Investigation Wing. No particular enquiries regarding the purchase from Nazarimpex were made by the AO either in the regular scrutiny or the 1st reopening. It therefore cannot be said that the assessee

Surya Prakash Toshniwal, Kolkata vs. ITO, Kolkata

In the result, the appeal of the assessee stands allowed

ITA 209/KOL/2023[2013-14]Status: DisposedITAT Kolkata17 Oct 2023AY 2013-14

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.209/Kol/2023 Assessment Year: 2013-14 Surya Prakash Toshniwal……………………….…...……………....Appellant Room No.73, 7 Swallow Lane, Dalhousie, Kolkata-1. [Pan: Abnpt5132E] Vs. Ito, Ward-36(1), Kolkata......…..........................................…..…..... Respondent Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : 17.10.2023 Date Of Pronouncing The Order : 17.10.2023 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 16.01.2023 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 Taken Following Revised Grounds Of Appeal. “1. (A) For That The Ld. Cit(A) Ought To Have Quashed The Re-Assessment Proceedings Since The Same Was Initiated Without Recording Proper Reasons To Belief

Section 143(3)Section 147Section 148Section 250Section 68

which has been analyzed with respect to the materials available on records in this case. After analyzing the information received from Investigation Wing, written submission of the assessee in response to notice u/s 133(6) and other materials available on records, it has been found that the assessee has made ... otherwise required to disclose. The gist of the reasons recorded for reopening of the assessment is that the information was received from Investigation Wing that there were high value non-cash transactions made in the current account followed by immediate withdrawal by making fund transfers through RTGS in the bank

ITO-4(3)(1), Mumbai vs. M/S. Update Marketings Pvt Ltd., Mumbai

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

ITA 2232/MUM/2023[2016-17]Status: DisposedITAT Mumbai17 Oct 2023AY 2016-17

Bench: Shri Aby T. Varkey & Shri Amarjit Singhassessment Year: 2016-17 V. The Ito-4(3)(1), M/S.Update Marketings Pvt. Ltd., Mumbai. 404, Chartered House, Dr.C H Street, Marine Line, Mumbai-400 002. [Pan: Aaacu 0629 A] (Appellant) (Respondent) Department By : Shri Vithal Machindra Bhosale, Sr.Dr Assessee By : None Date Of Hearing : 05.10.2023 Date Of Pronouncement : 17.10.2023

For Appellant: NoneFor Respondent: Shri Vithal Machindra Bhosale, Sr.DR
Section 143(1)Section 148

basis for re-opening AY. 2016-17 M/s. Update Marketings Pvt. Ltd. :: 2 :: the assessment was that he received information from the DDIT (Investigation Wing) Unit-2(1), Mumbai, that the Directors of M/s.ABN Tradelink Pvt. Ltd., and its associates were not doing any real business/trading activity and instead, were ... under consideration total income of Rs.28,05,470/-. Later, the assessment was re-opened by the AO on the basis of information from the Investigation Wing that the assessee has transacted with group concerns of M/s.ABN Tradelink Pvt. Ltd., i.e. M/s.Radiance Multitrade Pvt. Ltd., & M/s.Aspire Steel & Engg. Pvt. Ltd. According

ACIT- CC-4(2), Mumbai vs. Inter Publicity Pvt. Ltd., Mumbai

ITA 2518/MUM/2021[2014-15]Status: DisposedITAT Mumbai17 Oct 2023AY 2014-15

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm) I.T.A. No. 662/Mum/2021 (A.Y. 2014-15)

Section 132Section 132(4)Section 143(3)Section 153ASection 68

assessee along with other group concerns/family members was subjected to search operations under section 132 of the Act on 09-03-2015 by the Investigation wing of the Income tax department. Consequent thereto, the assessments were completed in the hands of the assessee for the above said year under section ... read with section 153A of the Act. 3. The Kolkata investigation wing of the department had reported that many paper companies are indulging in providing accommodation entries in the form of share capital/share premium to various beneficiaries. It was noticed by the department that the assessee’s group has received

ACIT- CC- 4(2), Mumbai vs. Morpan Merchant Pvt. Ltd., Mumbai

ITA 2515/MUM/2021[2014-15]Status: DisposedITAT Mumbai17 Oct 2023AY 2014-15

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm) I.T.A. No. 2515/Mum/2021 (A.Y. 2014-15)

Section 132Section 143(3)Section 153ASection 68

assessee along with other group concerns/family members was subjected to search operations under section 132 of the Act on 09-03-2015 by the Investigation wing of the Income tax department. Consequent thereto, the assessments were completed in the hands of the assessee for the above said year under section ... read with section 153A of the Act. 2 M/s. Morpan Merchant Pvt. Ltd. 3. The Kolkata investigation wing of the department had reported that many paper companies are indulging in providing accommodation entries in the form of share capital/share premium to various beneficiaries. It was noticed by the department that