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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

Shri Kailash Chand Gehlot, Jaipur vs. ITO, Ward-5(3) Jaipur

ITA 1279/JPR/2019[2009-10]Status: DisposedITAT Jaipur06 Mar 2023AY 2009-10

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

Section 143(3)Section 147Section 234BSection 250

under section 132 of the IT Act was conducted at the residential and office premises of Shri Madan Mohan Gupta on 23.05.2013 by the Investigation Wing of the Income Tax Department, Jaipur. During the course of search and seizure operation on Shri Madan Mohan Gupta, various incriminating papers/documents were found ... expiry of four years from the end of the relevant assessment year by the AO merely acting mechanically on the information supplied by the Investigation wing about the accommodation entries provided by the assessee to certain entities without applying his own mind was led to be not justified. 2.5.4. Also

Shri Shrinivas Tripathi, Ajmer vs. Income Tax Officer, Ajmer

ITA 471/JPR/2018[2009-10]Status: DisposedITAT Jaipur06 Mar 2023AY 2009-10

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

Section 143(3)Section 147Section 234BSection 250

under section 132 of the IT Act was conducted at the residential and office premises of Shri Madan Mohan Gupta on 23.05.2013 by the Investigation Wing of the Income Tax Department, Jaipur. During the course of search and seizure operation on Shri Madan Mohan Gupta, various incriminating papers/documents were found ... expiry of four years from the end of the relevant assessment year by the AO merely acting mechanically on the information supplied by the Investigation wing about the accommodation entries provided by the assessee to certain entities without applying his own mind was led to be not justified. 2.5.4. Also

Shri Arvind Kumar Sengwa, Ajmer vs. Income Tax Officer, Ward-2-1, Ajmer

ITA 1123/JPR/2018[2009-10]Status: DisposedITAT Jaipur06 Mar 2023AY 2009-10

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

Section 143(3)Section 147Section 234BSection 250

under section 132 of the IT Act was conducted at the residential and office premises of Shri Madan Mohan Gupta on 23.05.2013 by the Investigation Wing of the Income Tax Department, Jaipur. During the course of search and seizure operation on Shri Madan Mohan Gupta, various incriminating papers/documents were found ... expiry of four years from the end of the relevant assessment year by the AO merely acting mechanically on the information supplied by the Investigation wing about the accommodation entries provided by the assessee to certain entities without applying his own mind was led to be not justified. 2.5.4. Also

ACIT, Jaipur vs. Madan Mohan Gupta, Jaipur

In the result, appeal of the assessee is allowed and appeals of the revenue

ITA 516/JPR/2017[2010-11]Status: DisposedITAT Jaipur06 Mar 2023AY 2010-11

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.L. Poddar (Advocate)For Respondent: Shri S. Najmi (CIT)
Section 147Section 292C

Chand Surana HUF and Shri Kushal Chand Surana and Shri Rajendra Kumar Jain, all these persons are colonizers and builders, on 23.05.2013 by the Investigation Wing of the Income Tax Department, Jaipur. The assessee was working as Deed Writer for past several years for the above named persons. 2.1 During

ACIT, Jaipur vs. Madan Mohan Gupta, Jaipur

In the result, appeal of the assessee is allowed and appeals of the revenue

ITA 515/JPR/2017[2009-10]Status: DisposedITAT Jaipur06 Mar 2023AY 2009-10

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.L. Poddar (Advocate)For Respondent: Shri S. Najmi (CIT)
Section 147Section 292C

Chand Surana HUF and Shri Kushal Chand Surana and Shri Rajendra Kumar Jain, all these persons are colonizers and builders, on 23.05.2013 by the Investigation Wing of the Income Tax Department, Jaipur. The assessee was working as Deed Writer for past several years for the above named persons. 2.1 During

ACIT, Jaipur vs. Madan Mohan Gupta, Jaipur

In the result, appeal of the assessee is allowed and appeals of the revenue

ITA 514/JPR/2017[2008-09]Status: DisposedITAT Jaipur06 Mar 2023AY 2008-09

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.L. Poddar (Advocate)For Respondent: Shri S. Najmi (CIT)
Section 147Section 292C

Chand Surana HUF and Shri Kushal Chand Surana and Shri Rajendra Kumar Jain, all these persons are colonizers and builders, on 23.05.2013 by the Investigation Wing of the Income Tax Department, Jaipur. The assessee was working as Deed Writer for past several years for the above named persons. 2.1 During

ACIT, Jaipur vs. Madan Mohan Gupta, Jaipur

In the result, appeal of the assessee is allowed and appeals of the revenue

ITA 513/JPR/2017[202007-0814-15]Status: DisposedITAT Jaipur06 Mar 2023

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.L. Poddar (Advocate)For Respondent: Shri S. Najmi (CIT)
Section 147Section 292C

Chand Surana HUF and Shri Kushal Chand Surana and Shri Rajendra Kumar Jain, all these persons are colonizers and builders, on 23.05.2013 by the Investigation Wing of the Income Tax Department, Jaipur. The assessee was working as Deed Writer for past several years for the above named persons. 2.1 During

Madan Mohan Gupta, Jaipur vs. ACIT, Jaipur

In the result, appeal of the assessee is allowed and appeals of the revenue

ITA 449/JPR/2017[2007-08]Status: DisposedITAT Jaipur06 Mar 2023AY 2007-08

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.L. Poddar (Advocate)For Respondent: Shri S. Najmi (CIT)
Section 147Section 292C

Chand Surana HUF and Shri Kushal Chand Surana and Shri Rajendra Kumar Jain, all these persons are colonizers and builders, on 23.05.2013 by the Investigation Wing of the Income Tax Department, Jaipur. The assessee was working as Deed Writer for past several years for the above named persons. 2.1 During

Income Tax Officer, Ward-2(1), Guwahati vs. M/S. Impala Industrial Enterprises Limited, Kolkata

ITA 247/GTY/2019[2010-11]Status: DisposedITAT Guwahati03 Mar 2023AY 2010-11

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 133(6)Section 143(3)Section 144Section 148Section 250

Kolkattathat M/s. S.S. Securities (i.e. the broker of the Appellant) also was only a paper entity as established from the report of the Investigation Wing, Mumbai. As per the report of the Deputy Director (Investigation), Unit 3(3), Kolkatta, M/s. S.S. Securities (i.e. the broker of the Appellant) also stated ... address as "202, Amrit Dham, Nityanand Nagar, Bakultala, Danesh Sheikh Lane, Howrah - 711009". However, the enquiry by the Investigation Wing at Kolkatta could not prove the existence of M/s. S.S. Securities at Kolkatta. Finally, in the said report of Deputy Director (Investigation), Unit 3(3), Kolkatta, the amount transferred

Gajraj Tradecom Pvt. Ltd., Kolkata vs. D.C.I.T., Circle - 6(1), Kolkata

In the result, appeal of the assessee is allowed

ITA 628/KOL/2022[2015-2016]Status: DisposedITAT Kolkata28 Feb 2023AY 2015-2016

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Girish Agrawal, Hon’Bleassessment Years: 2015-16 Gajraj Tradecom Pvt. Ltd. Deputy Commissioner Of 9/12, Lal Bazar Street Vs. Income Tax, Circle-6(1), Kolkata - 700001 Kolkata [Pan: Aaecg5268M] (Appellant) (Respondent) Assessee By : Shri Soumitra Choudhury, Advocate Revenue By : Shri P.P. Barman, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 29/12/2022 घोषणा की तारीख/Date Of Pronouncement : 28/02/2023 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Directed Against The Order Passed By The National Faceless Appeal Centre, Delhi, (Hereinafter The “Ld. Cit(A)”) Dated 27/09/2022 For Assessment Year 2015-16 Against The Assessment Order Passed U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Passed By Dcit, Circle-6(1), Kolkata, Dated 23/12/2017. 2. Assessee Has Taken As Many As Ten Grounds & The Issues Involved In These Grounds Relate To Disallowance Of Deduction Claimed U/S 35(1)(Iii) & 35Ac Of The Act For Contribution Made By It Under Respective Sections & In Respect Of Credit Of Rs.10,00,000/- Towards Advance Tax Paid, Not Given In Computation Of Tax As Reflected In Form 26As. Grounds Of Appeal Are Not Reproduced For The Sake Of Brevity.

For Appellant: Shri Soumitra Choudhury, AdvocateFor Respondent: Shri P.P. Barman, Addl. CIT
Section 143(3)Section 35(1)(iii)Section 35A

commission income. While arriving at such a view, ld. Assessing Officer has relied on reports of DDIT (Inv.), Kolkata and statements recorded by Investigation wing, in this respect. Ld. Assessing Officer issued commission to Investigation wing of Kolkata, seeking information in respect of genuineness of the establishments and also genuineness ... before ld. Assessing Officer. It was strongly contended before ld. CIT(A) that ld. Assessing Officer has simply relied on the report received from Investigation wing containing certain statements which formed basis of treating donations/contributions as bogus. It was also submitted that, ld. Assessing Officer has not made any effort

Shri. Sunil Kumar Jalan, Bangalore vs. Income Tax Officer, Ward- 6(3)(1), Bangalore

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

ITA 337/BANG/2020[2014-15]Status: DisposedITAT Bangalore28 Feb 2023AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.Shri Sunil Kumar Jalan Vs The Income Tax Officer - 6(3)(1) No.703, 7Th Floor, Ebony Bmtc Building, 80Ft Road A Wing, Godrej Woods Apts 6Th Block, Koramangla Near Hebbal Flyover Bengaluru 560095 Bangalore 560024 Pan – Acdpj0966D (Appellant) (Respondent) Assessee By: Shri P.K. Prasad, Advocate Revenue By: Dr. Sankar Ganesh K., Addl. Cit-Dr Date Of Hearing: 23.02.2023 Date Of Pronouncement: 28.02.2023 O R D E R Per: George George K., J.M. This Appeal At The Instance Of The Assessee Is Directed Against The Cit(A)’S Order Dated 25.11.2019. The Relevant Assessment Year Is 2014-15. 2. The Brief Facts Of The Case Are As Follows: - The Assessee Is An Individual Engaged In Granite Business. For The Assessment Year (Ay) 2014-15 Return Of Income Was Filed On 28.11.2014 Declaring Total Income Of Rs.13,52,370/- Consisting Of Income From House Property, Capital Gains & Business Income. The Assessment Was Selected For Scrutiny & Notice Under Section 143(2) Of The Income Tax Act, 1961 (The Act) Was Issued On 18.09.2015. The Assessee’S Ar Attended Hearing On 30.12.2016 & 2 Shri Sunil Kumar Jalan Produced The Books Of Accounts & Other Details. The Assessing Officer (Ao) Concluded The Assessment Under Section 143(3) Of The Act Vide Order Dated 30.12.2016 Making The Following Addition: -

For Appellant: Shri P.K. Prasad, AdvocateFor Respondent: Dr. Sankar Ganesh K., Addl. CIT-DR
Section 10(38)Section 143(2)Section 143(3)Section 144

reasons and merely on the basis of suspicion, presumptions and without due and independent application of mind on the generalised report of the Investigation Wing of Kolkata, in total defiance of natural justice by denying sharing of the information and evidences collected behind the back of the Appellant. Ground ... year for a consideration of Rs.2,10,91,591/-). The assessment was selected for scrutiny for the reason that information was received from the Investigation Wing of Kolkata that the price of some the shares of penny stock companies which included the company NCL Research and Financial Services Ltd. were

M/S. Carnation Agro Estate Pvt. Ltd, Mumbai vs. The PCIT -1, Mumbai

In the result, appeal filed by the assessee is allowed

ITA 437/MUM/2022[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12

Bench: Shri Vikas Awasthy () & Shri Amarjit Singh ()

Section 143(2)Section 148Section 263Section 68

facts and circumstances of the case and in law, the learned PCIT erred in solely relying upon the information furnished by the investigation wing to the Ld. A.O. for reopening the case, without considering the documents filed by the appellant during the course of reopening assessment proceedings, which after ... Subsequently, the Principal CIT, Mumbai-1 reiterated in his order that information was received in the case of Shri Sunil Tatkare group from the Investigation Wing which revealed about obtaining unsecured loan from the group concerns of Shri Sunil Tatkare. The Ld.PCIT stated that Assessing Officer had ignored the findings

ACIT 14(1)(1), Mumbai vs. M/S.Bhaveshwar Properties Private Limited, Mumbai

Appeal are allowed, while Ground No

ITA 3052/MUM/2022[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12
For Appellant: Shri Gyaneshwar KataramFor Respondent: Shri Chetan Kacha
Section 143(1)Section 143(3)Section 147Section 148Section 69B

Secondly, the re-opening was based on information provided by DCIT, CC-6(2), Mumbai (which was further based on information from Investigation Wing) and the reopening lacked the ingredients of Assessing Officer's 'opinion' and reasons to 'believe'. Lastly, the reasons for re-opening based on which re- opening ... DCIT, CC -6(2), ITA. No. 3052/Mum/2022 & CO No. 12/Mum/2023 Assessment Year: 2011-12 Mumbai which further was based on the direction of the Investigation Wing, the re- opening notice issued u/s 148 and re-assessment proceedings u/s 147 ought to be considered as void-ab-intio, unwarranted, unlawful

The Dy. Commissioner of Income Tax, Central Circle-5(1), Mumbai vs. M/S Skyway Infra Projects Private Limited, Mumbai

In the result, cross objections of the assessee are dismissed, cross objections of the assessee are dismissed, cross objections of the assessee are dismissed, whereas appeals of the revenue are par...

ITA 2665/MUM/2022[2013-14]Status: HeardITAT Mumbai28 Feb 2023AY 2013-14

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2013-14 & Assessment Year: 2014-15 & Assessment Year: 2015-16 & Assessment Year: 2016-17 & Assessment Year: 2017-18 & Assessment Year: 2018-19 & Assessment Year: 2019-20 & Assessment Year: 2020-21

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM

M/S. Wescon Finance & Leasing Pvt. Ltd, Mumbai vs. DCIT, Central Circle -1(4), Mumbai

In the result, appeal of the assessee is allowed

ITA 1635/MUM/2022[2010-11]Status: DisposedITAT Mumbai28 Feb 2023AY 2010-11
For Appellant: Shri Rajkumar singhFor Respondent: Shri Satyapal Kumar (Sr. AR)
Section 133ASection 143(1)Section 147Section 148

having PAN No. AAACWO0S534A is assessed to tax in this charge i.e. ITO Ward -13(3)(2), Mumbai. During the investigation by the Investigation Wing, Mumbai, it has come to there notice that M/s. Wescon Finance Leasing Pvt. Ltd. has received some loans and made following investment in M/s. Sikkim ... submitted that the AO’s satisfaction that income had escaped assessment, was based solely on the information received by the AO from Investigation Wing. Based solely on information received from the Investigation Wing, the AO formed his belief that M/s Sikkim Ferro Alloys Ltd along with its group entities (including

Mr Nilesh Bharani, Mumbai vs. DCIT CC 4(1), Mumbai

ITA 612/MUM/2020[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No. 612/Mum/2020 (निर्धारणवर्ा / Assessment Year: 2011-12)

For Appellant: Shri Vinod Kumar/SatishFor Respondent: Shri Murli Mohan
Section 132(1)Section 143(1)Section 143(3)Section 147Section 148Section 153ASection 153CSection 68Section 69

submitted that it is not at all important to peruse the date as to when the AO received the alleged seized material from the investigation wing of the department for the purpose of initiating the reassessment proceedings u/s 153A of the Act but what is important to appreciate ... above submissions because on query from the Bench during the hearing as to when the books of account seized from the assessee by the investigation wing during the said search were handed over to the Central Circle Mumbai, the CIT DR filed a letter dated 15/11/2022 with evidence showing that

Shri. Bakul Kunverji Rajal, Mumbai vs. Asst CIT CC 3(3), Mumbai

In the result, the appeals of the assessee are partly allowed for statistical purposes

ITA 7623/MUM/2019[1990-91]Status: DisposedITAT Mumbai28 Feb 2023AY 1990-91

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.7622/Mum/2019 (निर्धारण वर्ा / Assessment Year: 1989-90) & आयकर अपील सं/ I.T.A. No.7623/Mum/2019 (निर्धारण वर्ा / Assessment Year: 1990-91) Shri Bakul Kunverji Rajal बिधम/ Acit, Cc-3(3) 116, Mulji Devsi Building, Aayakar Bhavan, Room Vs. Ground Floor, New Chinch No. 401, M. K. Road, Bunder Road, Mumbai- Mumbai-400020. 400009. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabpr4005M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Haresh Shah Revenue By: Smt. Madhumalti Ghosh (Dr) सुनवाई की तारीख / Date Of Hearing: 04/01/2023 घोषणा की तारीख /Date Of Pronouncement: 28/02/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: The Assessee Had Preferred The Aforesaid Captioned Appeals Against The Order Of The Ld. Cit(A)-51, Mumbai Dated 13.09.2019 For Ay. 1989-90 & 1990-91. Since The Issues Involved In These Appeals Are Common, They Are Being Taken Up Together. 2. The First Ground Of The Appeal Has Not Been Pressed. Accordingly Ground No.1 Of The Appeals For Ays 1989-90 & 1990-91 Is Dismissed. 3. The Next Two Grounds Of Appeal In All The Four (4) Appeals Are Against The Addition/S Made By The Ao In The Assessment Orders Impugned Before Us, Which Are Summarized Below: -

For Appellant: Shri Haresh ShahFor Respondent: Smt. Madhumalti Ghosh (DR)
Section 132Section 132(4)Section 148Section 245C(1)Section 245DSection 245D(1)Section 245H

receipts (as tabulated above) were added by way of unaccounted income of the appellant. The AO further noted that the appraisal report of the Investigation Wing revealed that M/s Bakul Enterprises had maintained a bank account with Mandvi Cooperative Bank, which as per the appraisal report of the Investigation Wing ... available for the period 1st November 1988 to 16th April 1990 is Rs 20,10,511/- (as per the appraisal report prepared by the investigation wing). In this regard, the assessee was required to submit the copy of the Bank statement. However, the assessee has failed to submit the bank

Shri. Bakul Kunverji Rajal, Mumbai vs. Asst CIT CC 3(3), Mumbai

In the result, the appeals of the assessee are partly allowed for statistical purposes

ITA 7622/MUM/2019[1989-90]Status: DisposedITAT Mumbai28 Feb 2023AY 1989-90

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.7622/Mum/2019 (निर्धारण वर्ा / Assessment Year: 1989-90) & आयकर अपील सं/ I.T.A. No.7623/Mum/2019 (निर्धारण वर्ा / Assessment Year: 1990-91) Shri Bakul Kunverji Rajal बिधम/ Acit, Cc-3(3) 116, Mulji Devsi Building, Aayakar Bhavan, Room Vs. Ground Floor, New Chinch No. 401, M. K. Road, Bunder Road, Mumbai- Mumbai-400020. 400009. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabpr4005M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Haresh Shah Revenue By: Smt. Madhumalti Ghosh (Dr) सुनवाई की तारीख / Date Of Hearing: 04/01/2023 घोषणा की तारीख /Date Of Pronouncement: 28/02/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: The Assessee Had Preferred The Aforesaid Captioned Appeals Against The Order Of The Ld. Cit(A)-51, Mumbai Dated 13.09.2019 For Ay. 1989-90 & 1990-91. Since The Issues Involved In These Appeals Are Common, They Are Being Taken Up Together. 2. The First Ground Of The Appeal Has Not Been Pressed. Accordingly Ground No.1 Of The Appeals For Ays 1989-90 & 1990-91 Is Dismissed. 3. The Next Two Grounds Of Appeal In All The Four (4) Appeals Are Against The Addition/S Made By The Ao In The Assessment Orders Impugned Before Us, Which Are Summarized Below: -

For Appellant: Shri Haresh ShahFor Respondent: Smt. Madhumalti Ghosh (DR)
Section 132Section 132(4)Section 148Section 245C(1)Section 245DSection 245D(1)Section 245H

receipts (as tabulated above) were added by way of unaccounted income of the appellant. The AO further noted that the appraisal report of the Investigation Wing revealed that M/s Bakul Enterprises had maintained a bank account with Mandvi Cooperative Bank, which as per the appraisal report of the Investigation Wing ... available for the period 1st November 1988 to 16th April 1990 is Rs 20,10,511/- (as per the appraisal report prepared by the investigation wing). In this regard, the assessee was required to submit the copy of the Bank statement. However, the assessee has failed to submit the bank

Cotton Nation, Mumbai vs. ACIT-26(1), Mumbai

In the result, the appeal of the revenue is dismissed and both the appeals of the assessee are allowed

ITA 4182/MUM/2019[2014-15]Status: DisposedITAT Mumbai28 Feb 2023AY 2014-15

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm)

Section 68

Further, with regard to non-service of notices issued by the ADI, it is observed that all the lender companies have replied to the Investigation Wing as well as the Assessing Officer and the documents called for have been submitted as evident from the copies of the replies submitted ... companies, viz., M/s Lity Star Constructions Ltd (Rs.20.00 lakhs) and M/s Pushpanjali Commo Trade P Ltd (Rs.10.00 lakhs) in some other proceeding before the investigation wing. Thus, the fact remains that the above said statements have not been taken during the course of present assessment proceedings of the assessee. Hence

Cotton Nation, Mumbai vs. JCIT-26(1), Mumbai

In the result, the appeal of the revenue is dismissed and both the appeals of the assessee are allowed

ITA 4181/MUM/2019[2013-14]Status: DisposedITAT Mumbai28 Feb 2023AY 2013-14

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm)

Section 68

Further, with regard to non-service of notices issued by the ADI, it is observed that all the lender companies have replied to the Investigation Wing as well as the Assessing Officer and the documents called for have been submitted as evident from the copies of the replies submitted ... companies, viz., M/s Lity Star Constructions Ltd (Rs.20.00 lakhs) and M/s Pushpanjali Commo Trade P Ltd (Rs.10.00 lakhs) in some other proceeding before the investigation wing. Thus, the fact remains that the above said statements have not been taken during the course of present assessment proceedings of the assessee. Hence