“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

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

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

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

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

Meena Nayyar, New Delhi vs. ACIT, Central Circle-20, New Delhi

In the result, all the four appeals filed by the assessee are allowed

ITA 8723/DEL/2019[2014-15]Status: DisposedITAT Delhi06 Apr 2023AY 2014-15

For Appellant: Shri Anil Jain, CAFor Respondent: Ms. Sarita Kumari, CIT DR

Section 132Section 139Section 153A

short 'the Act') pursuant to search. 4. A search & seizure operation and survey operation under section132/132A of the Act was conducted by the Investigation Wing of the Department on 18.11.2016 in Nayyar Group of cases. Assessee’s residential premise was also covered. A notice u/s 153A

Meena Nayyar, New Delhi vs. ACIT, Central Circle-20, New Delhi

In the result, all the four appeals filed by the assessee are allowed

ITA 8722/DEL/2019[2013-14]Status: DisposedITAT Delhi06 Apr 2023AY 2013-14

For Appellant: Shri Anil Jain, CAFor Respondent: Ms. Sarita Kumari, CIT DR

Section 132Section 139Section 153A

Meena Nayyar, New Delhi vs. ACIT, Central Circle-20, New Delhi

In the result, all the four appeals filed by the assessee are allowed

ITA 8721/DEL/2019[2011-12]Status: DisposedITAT Delhi06 Apr 2023AY 2011-12

For Appellant: Shri Anil Jain, CAFor Respondent: Ms. Sarita Kumari, CIT DR

Section 132Section 139Section 153A

Naveen Kishor Mohnot, Mumbai vs. ITO-25(3)(5), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 325/MUM/2023[2011-2012]Status: DisposedITAT Mumbai05 Apr 2023AY 2011-2012

Bench: Shri S. Rifaur Rahman, Hon'Blenaveen Kishor Mohnot V. Income Tax Officer –25(3)(5) 3Rd Floor, Monami Apartments C-10, Room No. 609, 6Th Floor Behind Chandan Cinema, Juhu Pratyakshkar Bhavan Mumbai - 400049 Bandra Kurla Complex Bandra (E), Mumbai – 400051 Pan: Abgpj1360D (Appellant) (Respondent) Assessee Represented By : Shri Jayant Bhatt Department Represented By : Shri S.N. Kabra

Section 143(3)Section 250Section 271(1)(c)

that assessee has filed its return of income on 29.07.2011 declaring total income of ₹.6, 67,900/-. Based on the information received from the Investigation Wing that the assessee has dealt in sale and purchase of shares of M/s. VAS INFRASTRUCTURE LIMITED, which is a penny stock company. Accordingly ... observed that assessee claimed loss of ₹.46,964/- being short-term Capital loss. Assessing Officer in the Assessment Order discussed various findings of the Investigation Wing on the scrips relating to M/s. VAS Infrastructure Limited and the same is discussed in the Assessment Order at Page

Smt Rupa Himanshu Shrimankar, Mumbai vs. ACIT-24(3), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 3144/MUM/2022[2014-2015]Status: DisposedITAT Mumbai05 Apr 2023AY 2014-2015

Bench: Shri S. Rifaur Rahman, Hon'Blesmt Rupa Himanshu Shrimankar V. Acit – 24(3) 107, Sagar Avenue, S.V. Road Aayakar Bhavan Andheri (W), Mumbai - 400056 Mumbai - 400020 Pan: Avups8496B (Appellant) (Respondent) Assessee Represented By : Shri Kiran Mehta Department Represented By : Shri S.N. Kabra

Section 68Section 69C

incurred loss on sale of the above said scrip and claimed the loss. The Assessing Officer merely disallowed the same by relying on investigation wing report and not considered the merits and facts on record. In this regard he relied on the order of the Coordinate Bench in the case ... banking channels only and in that process assessee has suffered loss of ₹.7,74,308/-. The Assessing Officer mechanically applied the informations received from investigation wing and proceeded to disallow the loss claimed by the assessee as well as proceeded to make the sale proceeds as undisclosed income. The similar

Shri Rupal Jaian, Jaipur vs. ITO, Ward-1(2), Jaipur

In the result, appeal of the assessee is dismissed

ITA 209/JPR/2020[2014-15]Status: DisposedITAT Jaipur04 Apr 2023AY 2014-15

Bench: The Date Of Appeal.

For Appellant: Shri Saurabh Harsh, AdvocateFor Respondent: Shri Anoop Singh, (Addl. CIT)

Section 10(38)Section 133ASection 142(1)Section 143(2)Section 68

assessment proceedings, it is noticed that the assessee invested in shares, namely, M/s. Sunrise Asian Limited. On the basis of information received from Investigation Wing of the Department, SEBI discovered that various syndicates have arranged accommodation entry of bogus LTCG, Bogus STCG, Bogus Long/Short Term Capital Loss through trading ... Information in respect of trading of penny stock i.e. M/s. Sunrise Asian Ltd. is available in ITS data/AIR. In the statement recorded by the Investigation Wing of the Department under section 133A of the IT Act, 1961 the stake holders viz. Operators/Syndicate members/Brokers have admitted about complete procedure

Assistant Commissioner of Income Tax, Central Circle-1, Guwahati vs. Abci Infrastructures Private Limited, Kolkata

In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed

ITA 1/GTY/2023[2013-14]Status: HeardITAT Guwahati03 Apr 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

For Appellant: (1) That on the facts and in the circumstances of the case

Section 143(3)Section 147Section 148Section 153Section 153C

with any amount of due diligence at the time of assessment. It is only after the information in this regard was received from the investigation wing and further inquiry, examination and investigation were conducted by me that it came to light that the transaction discussed in the preceding paras ... learned Assessing Officer to have conducted proper enquiries in this regard. Merely placing reliance on the statements recorded by the officer of the Investigation Wing cannot justify the action of the Assessing Officer. It is settled law that the addition cannot be made solely based on third party information

Abci Infrastructures Private Limited, Kolkata vs. Assistant Commissioner of Income Tax, Central Circle-1, Guwahati

In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed

ITA 40/GTY/2022[2013-14]Status: HeardITAT Guwahati03 Apr 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

For Appellant: (1) That on the facts and in the circumstances of the case

Section 143(3)Section 147Section 148Section 153Section 153C

Faisal Ahmed Abbas, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 1(2), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 2891/MUM/2022[2006-2007]Status: DisposedITAT Mumbai03 Apr 2023AY 2006-2007

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blefaisal Ahmed Abbas V. Dcit – Central Circle – 1(2) 405, Venus Apartment Pratishtha Bhavan, 9Th Floor Lane – A, North Main Market Maharishi Karve Road Koregaon Park, Mumbai - 411001 Mumbai - 400020 Pan: Acppa6146G (Appellant) (Respondent) Assessee Represented By : Shri K. Gopal Department Represented By : Shri Ashish Kumar Deharia

Section 132Section 143(2)Section 153A

case of Shri Hassan Ali Khan 2 Faisal Ahmed Abbas and his wife Smt. Rheema Hassan Ali Khan was conducted on 05.01.2007 by the Investigation Wing, Mumbai. Simultaneously, search was also conducted in the case of the assessee. During this year assessee render services to various horse owners through

Ravindra K. Reshawala, Mumbai vs. The Dy. Comm. of Income Tax 17(1), Mumbai

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

ITA 2648/MUM/2022[2009-10]Status: DisposedITAT Mumbai03 Apr 2023AY 2009-10

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleravindra K. Reshamwala V. Dcit- Circle 17(1) 7/A Pil Court, 111 M.K. Road Kautilya Bhavan, Bandra Kurla Complex Bandra (E), Mumbai- 400051 Churchgate, Mumbai- 400020 Pan: Aaafr2227C (Appellant) (Respondent) Assessee Represented By : Shri. Piyush Chhajed & Shri Sumit Mantri Department Represented By : Shri. Saurabh Kumar Rai

Section 132Section 143(1)Section 143(2)Section 147Section 148Section 151(2)Section 35ASection 35A(1)

section 132 of the Income Tax 1961, was conducted on Navjeevan Charitable Trust on 27.10.2014. During the search action, it was found by the investigation wing that all the expenses of the Trust were mere book entries and no genuine expenses were made by the trust for the purpose ... donations received in cheques were returned in cash to all the donors after deducting nominal commission. Consequently, Survey Action conducted by the Investigation wing on some of the donors have conclusively proved that the Trust indeed returned by donations in cash," 4. During scrutiny proceedings, authorised representative of the assessee

Met Pro Chemicals, Mumbai vs. National Faceless Appeal Centre, Delhi

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

ITA 2611/MUM/2022[2012-13]Status: DisposedITAT Mumbai03 Apr 2023AY 2012-13

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Met Pro Chemicals V. Cit(A) Room No. 208, Alankar Building National Faceless Appeal Centre Samuel Street, Masjid Bunder Delhi Mumbai - 400003 Pan: Aabfm0950E (Appellant) (Respondent) Assessee Represented By : Shri Manoj Pandit Shri. Ashish Kumar Deharia Department Represented By :

Section 147Section 148Section 151(2)Section 35(1)(ii)

notice assessee submitted its submissions, after considering the submissions of the assessee Assessing Officer completed the assessment based on the findings unearthed by the investigation wing, Kolkata and proceeded to make addition of ₹.8,00,000/- and ₹.40,000/- towards bogus donation and commission on such bogus donation respectively

Kirit Gordhandas Shah, Mumbai vs. ITO-26(2)(1), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 4329/MUM/2019[2014-15]Status: DisposedITAT Mumbai03 Apr 2023AY 2014-15

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 131Section 142(1)Section 143(2)Section 147Section 148Section 35(1)Section 35(1)(iii)Section 80G

passing on the benefit to others. We observe from the record that Assessing Officer has merely relied on the orders and report from Investigation Wing, Kolkata and carried the investigation by recording statement u/s. 131 of the Act. We observe from the record that assessee has filed all the relevant ... cogent material available on record of the Assessing Officer that assessee has received back the donation paid. Merely relying on the report of Investigation Wing and applying the preponderance of probabilities to make the above addition is not proper. Assessee has given donation to SHGPH on good faith

Shri Ashnuth Goyal, Jaipur vs. ACIT, Ward -1(3), Jaipur

In the result, the appeal of the assessee is allowed

ITA 276/JPR/2020[2015-16]Status: DisposedITAT Jaipur03 Apr 2023AY 2015-16

Bench: Him. Thus, The Addition Of Rs. 30,04,864/- So Uphold Deserves To Be Deleted. Shri Ashnuth Goyal Vs Acit, Ward 1(3), Jaipur

For Appellant: Shri Manish Agarwal, CAFor Respondent: Smt. Monisha Choudhary, JCIT

Section 10(38)Section 68

Securities Transaction Tax) and other incidental charges. However, Ld. AO during the course of assessment proceedings, based on some information received from Investigation Wing of the Income Tax Department (obtained by them during searches/surveys conducted by them at various places throughout the country), issued show cause notice dated 28.11.2017 proposing ... said addition without considering the said mistake.At this juncture, it is submitted that for making addition, ld.AO has relied upon some information received from Investigation Wing Kolkata and statements recorded of one Sh. Jai Kishan Poddar during survey conducted u/s 133A on 11.09.2015 at the business premises of some

Shri Arnav Goyal, Jaipur vs. ITO, Ward-2(4), Jaipur

In the result, the appeal of the assessee is allowed

ITA 275/JPR/2020[2015-16]Status: DisposedITAT Jaipur03 Apr 2023AY 2015-16

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri Manish Agarwal, CAFor Respondent: Shri Chandra Prakash Meena,Addl.CIT

Section 10(38)Section 68

JAIPUR Transaction Tax) and other incidental charges. However, Ld. AO during the course of assessment proceedings, based on some information received from Investigation Wing of the Income Tax Department (obtained by them during searches/surveys conducted by them at various places throughout the country but none of them was related ... said addition without considering the said mistake.At this juncture, it is submitted that for making addition, ld.AO has relied upon some information received from Investigation Wing Kolkata and statements recorded of one Sh. Jai Kishan Poddar during survey conducted u/s 133A on 11.09.2015 at the business premises of some

Mrs Sonali Manoj Mathuria, Mumbai vs. The Income Tax Officer, Ward 20(3)(4), Mumbai

In the result, all the appeal of the assessee is allowed

ITA 46/MUM/2023[2011-12]Status: DisposedITAT Mumbai31 Mar 2023AY 2011-12

Bench: Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No.46/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2011-12) Mrs. Sonali Manoj Mathuria बिधम/ Ito, Ward-20(3)(4) Plot No. 521-A, R. P. 616, Piramal Chambers, Vs. Masani Road, Next To Lalbaug, Mumbai- Narayan Villa, Matunga (C. 400012. Rly), Mumbai-400019. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aadpk6404B (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri M. S. Mathuria Revenue By: Shri Anil Gupta सुनवाई की तारीख / Date Of Hearing: 01/03/2023 घोषणा की तारीख /Date Of Pronouncement: 31/03/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Cit(A)/Nfac, Delhi Dated 25.11.2022 For Ay. 2011-12. 2. The Main Grievance Of The Assessee Is Against The Action Of The Ld. Cit(A) Confirming The Addition Of Rs.6,22,807/-. 3. Brief Facts As Noted By The Ao Is That The Assessee Had Filed Her Return Of Income On 19.07.2011 Declaring Total Income Of Rs.5,04,890/-. Thereafter, The Assessee’S Case Was Reopened U/S 147 Of The Income Tax Act, 1961 (Hereinafter “The Act”) Based On Information From The Investigation Wing, Mumbai That Organized Racket Was Going On For Generating Bogus Entries Of Long Term Capital Gain (Ltcg) Through Transactions Of Penny Stocks Which Have Been Unearthed As A Result Of Investigation Carried Out By The Investigation Wing. As Per The Information One Of The Penny Stock Was M/S. Comfort Intech

For Appellant: Shri M. S. MathuriaFor Respondent: Shri Anil Gupta

Section 147Section 68

Thereafter, the assessee’s case was reopened u/s 147 of the Income Tax Act, 1961 (hereinafter “the Act”) based on information from the investigation wing, Mumbai that organized racket was going on for generating bogus entries of Long Term Capital Gain (LTCG) through transactions of penny stocks which have been ... unearthed as a result of investigation carried out by the Investigation Wing. As per the information one of the penny stock was M/s. Comfort Intech 2 A.Y. 2011-12 Sonali Manoj Mathuria Limited . According to the information, the assessee has transacted in this scrip to the tune of Rs.6

Mr. Hoshang Jamshed Mohta, Mumbai vs. ITO-35(1)(4), Mumbai

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

ITA 36/MUM/2023[2011-12]Status: DisposedITAT Mumbai31 Mar 2023AY 2011-12

Bench: Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No.36/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2011-12) Mr. Hoshang Jamshed बिधम/ Ito-35(1)(4) 8Th Floor Kautilya Mohta Vs. C/O. Kalyaniwalla & Mistry Bhavan, Avenue 3, G- Llp. Esplanade House, 29, Block, Bandra Kurla Hazarimal Somani Marg, Complex Bandra East, Fort, Mumbai-400001. Mumbai-400051. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Acopm4448G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Jitendra Jain Revenue By: Shri Anil Gupta सुनवाई की तारीख / Date Of Hearing: 01/03/2023 घोषणा की तारीख /Date Of Pronouncement: 31/03/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Cit(A)/Nfac, Delhi Dated 22.09.2022 For Ay. 2011-12. 2. The Main Grievance Of The Assessee Is Against The Action Of The Ld. Cit(A) Upholding Addition Of Rs.8,75,000/-. 3. Brief Facts Is That The Assessee Had Filed Return Of Income For Ay. 2011-12 On 25.07.2011 Declaring Total Income At Rs.5,08,820/-. Later, The Ao Got Information That Investigation Wing While Conducting Search In The M/S Sheth Developer Pvt. Ltd, It Was Found That The Said Party Had Accepted ‘On Money’ For Flats From The Buyers Of Flats. & The Assessee Was One Such Buyer Of A Flat & Had Paid Rs. 8,75,00/- For Purchase Of Flat No. 1003 In Vasant Lawns-Green Developed By Sheth Developers. According To Ao, The Assessee Has Paid/Cash ‘On Money’ Of Rs.8,75,000/- For Purchase Of An Immovable

For Appellant: Shri Jitendra JainFor Respondent: Shri Anil Gupta

Section 132(4)Section 4

filed return of income for AY. 2011-12 on 25.07.2011 declaring total income at Rs.5,08,820/-. Later, the AO got information that investigation wing while conducting search in the M/s Sheth Developer Pvt. Ltd, it was found that the said party had accepted ‘on money’ for flats from ... made such an allegation against the assessee. Without doing so, the AO has made an addition based on the information, he received from the investigation wing. On appeal, the Ld. CIT(A) has confirmed the addition mainly on the basis of the statement recorded during the search of the developer

M/S. Gurjar Gems Pvt. Ltd., Mumbai vs. ACIT, Circle 9(3)(2), Mumbai

In the result, the appeal of assessee is partly allowed

ITA 213/MUM/2023[2012-13]Status: DisposedITAT Mumbai31 Mar 2023AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2012-13 M/S Gurjar Gems Pvt. Ltd., Acit, Circle 9(3)(2), Plot No. F-17 Midc, Marol Aayakar Bhavan, Industrial Area, Opp. Seepz, Vs. Maharshi Karve Road, Andheri (E), Chakala Midc S.O., Mumbai-400020. Mumbai-400093. Pan No. Aaacg 3685 L Appellant Respondent Assessee By : Mr. Ravikant Pathak, Ar Revenue By : Mr. Milind S. Chavan, Dr : Date Of Hearing 24/03/2023 : Date Of Pronouncement 31/03/2023 Order

For Appellant: Mr. Ravikant Pathak, ARFor Respondent: Mr. Milind S. Chavan, DR

Section 143(3)Section 147Section 148

completed on 21/03/2015, wherein herein the the returned return income income was was accepted. accepted. Subsequently, on receipt of information from the investigation wing on receipt of information from the investigation wing on receipt of information from the investigation wing M/s Gurjar Gems Pvt. Ltd. 4 of the Income ... from the addition solely on the basis of the information received from the addition solely on the basis of the information received from the investigation wing without bringing any cogent material on record. without bringing any cogent material on record. without bringing any cogent material on record. Therefore, according

M/S West End Investment & Finance Consultancy Pvt Ltd, Mumbai vs. DCIT, Circle-4(2)(1), Mumbai

In the result, Appeal of the Assesses are allowed for the statistical purposes

ITA 3098/MUM/2022[2017-2018]Status: DisposedITAT Mumbai31 Mar 2023AY 2017-2018

Bench: Shri Amit Shukla, Jm & Shri Prashant Maharishi, Am आयकरअपीलसं./ I.T.A. No.3097 & 3098/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2016-17 & 2017-18) M/S. West & Dcit, Circle-4(2)(1), Investment & Finance Mumbai Consultancy P.Ltd Cit(A)-47, Mumbai. बिधम/ 38,2Nd Floor, Bombay Vs. Mutual Building, Dr. D.N.Road, Fort Mumbai- 400001 स्थायीलेखासं./जीआइआरसं./Pan No. Aaacw0973H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Deepak Tralshawala प्रत्यथीकीओरसे/Respondent By : Deepika Arora-Sr. Ar सुनवाईकीतारीख/ : 30.03.2023 Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : 31.03.2023

For Appellant: Shri Deepak TralshawalaFor Respondent: Deepika Arora-Sr. AR

Section 133(6)Section 139(1)Section 143(1)Section 143(3)Section 147Section 68

source of the funds given to the assessee company. Apart from that, once it has been found in the course of search by the investigation wing that one entry and operator „Shri. Mukesh Banka’ was providing accommodation entry through this company “M/s. Blossom Trexim Pvt. Ltd” which was managed ... reasons recorded for the AY 2016-17 and it is observed that, there was a credible information with the Assessing Officer received from the investigation wing and there was specific information that assessee have received 2 Crore loans form M/s. Blossom Trexim Pvt. Ltd” which was found to be providing

M/S West End Investment & Finance Consultancy Pvt Ltd, Mumbai vs. DCIT, Circle-4(2)(1), Mumbai

In the result, Appeal of the Assesses are allowed for the statistical purposes

ITA 3097/MUM/2022[2016-2017]Status: DisposedITAT Mumbai31 Mar 2023AY 2016-2017

For Appellant: Shri Deepak TralshawalaFor Respondent: Deepika Arora-Sr. AR

Section 133(6)Section 139(1)Section 143(1)Section 143(3)Section 147Section 68

Rahul Devchand Gogri, Mumbai vs. Commissioner of Income Tax, National Faceless Appeal Centre., Mumbai

In the result, appeal filed by the assessee is allowed

ITA 2793/MUM/2022[2011-2012]Status: DisposedITAT Mumbai31 Mar 2023AY 2011-2012

Bench: Shir Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blerahul Devchand Gogri V. Cit(A) National Faceless Appeal Centre 11, Rajmahal Shopping Centre Delhi Andheri – Kurla Road, Andheri (East) Mumbai - 400059 Income Tax Officer – 24(3)(5) Pan: Ahapg7920Q Piramal Chambers, Lalbaug Mumbai – 400 012 (Appellant) (Respondent) Assessee Represented By : Shri Bhandresh Doshi Department Represented By : Shri Ashish Kumar Deharia

Section 133(6)Section 143(1)Section 143(2)Section 148

same from the said party. 8. The assessee did not make any efforts to controvert the finding recorded by sales tax authorities followed by investigation wing of Income-tax department. The said dealers/sellers had already accepted before the sales tax authorities about their modus operandi of providing accommodation entry