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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

Principal Commissioner of Income Tax 1 vs. Parbati Mohapatra

ITA/19/2022HC Orissa08 Feb 2023

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN

Prashant Aggarwal, New Delhi vs. ACIT Central Circle-6, New Delhi

In the result, the appeal of the assessee is dismissed

ITA 9754/DEL/2019[2017-18]Status: DisposedITAT Delhi08 Feb 2023AY 2017-18

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. Ved Jain, AdvFor Respondent: Sh. T. Kipgen, CIT DR
Section 115BSection 131Section 132Section 142(1)Section 69A

properties. 4. A Search & seizure operation u/s 132 of the Act was conducted on Ashish Begwani Group of cases on 22.10.2016 by the Investigation Wing, Unit-8(2), New Delhi. Thereafter, warrant of authorization was also executed in the case of the assessee on 09.11.2016 at Locker

DCIT Central Circle-8, New Delhi vs. Vatika Ltd, Gurgaon

ITA 1517/DEL/2020[2011-12]Status: DisposedITAT Delhi07 Feb 2023AY 2011-12

Bench: Sh. Shamim Yahya & Sh. Anubhav Sharma

Section 132Section 139(1)Section 143(3)Section 153A

Assessment shows that the Assessing officer considered to make the addition on the basis of search operation conducted against India Bulls Group by the Investigation Wing, Mumbai on 12.07.2016. It has been further observed by the Assessing Officer that during the search ITA No. 1517./Del/2020 Vatika Ltd., Gurgaon

Ajay Kumar Tantia, Kolkata vs. Income Tax Officer, Ward-4(1), Guwahati

In the result, effective grounds raised by the assessee are partly allowed as per terms indicated hereinabove and other grounds being general in nature need no adjudication

ITA 328/GTY/2019[2014-15]Status: DisposedITAT Guwahati06 Feb 2023AY 2014-15

Bench: Shri Rajpal Yadav, Vice- & Shri Manish Boradi.T.A. No.328/Gty/2019 Assessment Year: 2014-15 Ajay Kumar Tantia, Kolkata.....…..…………....................……….……Appellant 7B, Ground Floor, Kiran Shankar Roy Road, Kolkata-1. [Pan: Abkpt3130B] Vs. Ito, Ward-4(1), Guwahati ……..…............…….......................…..…..Respondent Appearances By: Shri S. P. Bhati, Fca, Appeared On Behalf Of The Appellant. Shri Amit Kumar Pandey, Jcit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 31, 2023 Date Of Pronouncing The Order : February 06, 2023 Order Per Manish Borad: This Appeal At The Instance Of The Assessee Pertaining To The Assessment Year (In Short “Ay”) 2014-15 Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals), Guwahati-2, Guwahati [In Short Ld. “Cit(A)”] Dated 31.05.2019 Which Is Arising Out Of The Order U/S 143(3) Of The Assessing Officer Dated 23.12.2016. 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

Section 143(2)Section 143(3)Section 68

penny stock companies. The scrips were identified by the ld. Assessing Officer as penny stock on the basis of information received by the Investigation Wing of the Income Tax Department in various cases. The ld. Assessing Officer observed that in one script, the assessee has earned short-term capital gain

Shri Yogesh P.Thakkar, Mumbai vs. The DCIT CC-3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1612/MUM/2021[2015-16]Status: DisposedITAT Mumbai03 Feb 2023AY 2015-16
Section 10(38)Section 143(3)Section 153Section 69C

full of many such companies where inspite of weak financial results, the shares hold good prices. e. None of the people examined by the Investigation Wing have stated the name of the assessee in their depositions or that the investigation has revealed the name of the assessee ... income into his books of account in the form of bogus capital gains. Moreover, the statements of various accommodation entry providers recorded by the Investigation Wing further lend credence to the fact that the assessee took accommodation entries. Now since it has been established that accommodation entries were taken

Dineshchandra D. Chhajed, Mumbai vs. DCIT CC3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1611/MUM/2021[2015-16]Status: DisposedITAT Mumbai03 Feb 2023AY 2015-16
Section 10(38)Section 143(3)Section 153Section 69C

full of many such companies where inspite of weak financial results, the shares hold good prices. e. None of the people examined by the Investigation Wing have stated the name of the assessee in their depositions or that the investigation has revealed the name of the assessee ... income into his books of account in the form of bogus capital gains. Moreover, the statements of various accommodation entry providers recorded by the Investigation Wing further lend credence to the fact that the assessee took accommodation entries. Now since it has been established that accommodation entries were taken

Shri Nitin Popatlal Thakkar, Mumbai vs. The Dy.Citi Cent. Cir -3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1610/MUM/2021[2013-14]Status: DisposedITAT Mumbai03 Feb 2023AY 2013-14
Section 10(38)Section 143(3)Section 153Section 69C

full of many such companies where inspite of weak financial results, the shares hold good prices. e. None of the people examined by the Investigation Wing have stated the name of the assessee in their depositions or that the investigation has revealed the name of the assessee ... income into his books of account in the form of bogus capital gains. Moreover, the statements of various accommodation entry providers recorded by the Investigation Wing further lend credence to the fact that the assessee took accommodation entries. Now since it has been established that accommodation entries were taken

Shri Nitin Popatlal Thakkar, Mumbai vs. The DCIT Cent.Cir-3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1609/MUM/2021[2014-15]Status: DisposedITAT Mumbai03 Feb 2023AY 2014-15
Section 10(38)Section 143(3)Section 153Section 69C

full of many such companies where inspite of weak financial results, the shares hold good prices. e. None of the people examined by the Investigation Wing have stated the name of the assessee in their depositions or that the investigation has revealed the name of the assessee ... income into his books of account in the form of bogus capital gains. Moreover, the statements of various accommodation entry providers recorded by the Investigation Wing further lend credence to the fact that the assessee took accommodation entries. Now since it has been established that accommodation entries were taken

Smt Harhsa Nitin Thakkar, Mumbai vs. The Dy. Citi Cent. Cir -3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1608/MUM/2021[2014-15]Status: DisposedITAT Mumbai03 Feb 2023AY 2014-15
Section 10(38)Section 143(3)Section 153Section 69C

full of many such companies where inspite of weak financial results, the shares hold good prices. e. None of the people examined by the Investigation Wing have stated the name of the assessee in their depositions or that the investigation has revealed the name of the assessee ... income into his books of account in the form of bogus capital gains. Moreover, the statements of various accommodation entry providers recorded by the Investigation Wing further lend credence to the fact that the assessee took accommodation entries. Now since it has been established that accommodation entries were taken

Nisha Yogesh Thakkar, Mumbai vs. DCIT CC 3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1607/MUM/2021[2015-16]Status: DisposedITAT Mumbai03 Feb 2023AY 2015-16
Section 10(38)Section 143(3)Section 153Section 69C

full of many such companies where inspite of weak financial results, the shares hold good prices. e. None of the people examined by the Investigation Wing have stated the name of the assessee in their depositions or that the investigation has revealed the name of the assessee ... income into his books of account in the form of bogus capital gains. Moreover, the statements of various accommodation entry providers recorded by the Investigation Wing further lend credence to the fact that the assessee took accommodation entries. Now since it has been established that accommodation entries were taken

Smt. Harsh A Nitin Thakkar, Raigad vs. The DCIT Cent. Cir -3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1606/MUM/2021[2013-14]Status: DisposedITAT Mumbai03 Feb 2023AY 2013-14
Section 10(38)Section 143(3)Section 153Section 69C

full of many such companies where inspite of weak financial results, the shares hold good prices. e. None of the people examined by the Investigation Wing have stated the name of the assessee in their depositions or that the investigation has revealed the name of the assessee ... income into his books of account in the form of bogus capital gains. Moreover, the statements of various accommodation entry providers recorded by the Investigation Wing further lend credence to the fact that the assessee took accommodation entries. Now since it has been established that accommodation entries were taken

Shri Yogesh P. Thakkar, Panvel vs. The DCIT, CC-3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1605/MUM/2021[2014-15]Status: DisposedITAT Mumbai03 Feb 2023AY 2014-15
Section 10(38)Section 143(3)Section 153Section 69C

full of many such companies where inspite of weak financial results, the shares hold good prices. e. None of the people examined by the Investigation Wing have stated the name of the assessee in their depositions or that the investigation has revealed the name of the assessee ... income into his books of account in the form of bogus capital gains. Moreover, the statements of various accommodation entry providers recorded by the Investigation Wing further lend credence to the fact that the assessee took accommodation entries. Now since it has been established that accommodation entries were taken

Lupin Ltd., Mumbai vs. The Dy CIT, Circle-3(4), Mumbai

In the result, the appeal filed by the assessee and the revenue are treated as partly allowed

ITA 1920/MUM/2020[2009-10]Status: DisposedITAT Mumbai03 Feb 2023AY 2009-10

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

Section 115JSection 131Section 132(3)Section 132(4)Section 139(1)Section 143(1)Section 143(2)Section 153A

income filed u/s 153A of the Act. 7.2 The AO did not accept the contentions of the assessee for the following reasons:- (a) The Investigation wing of department had investigated the transactions carried on by a person named Sri Naresh Kantilal Shah through various concerns in his name

ACIT, New Delhi vs. M/S. Dhadda International, Delhi

In the result, the appeals filed by the Revenue are partly allowed

ITA 6692/DEL/2016[2008-09]Status: DisposedITAT Delhi03 Feb 2023AY 2008-09
For Appellant: Shri K. Sampath, AdvocateFor Respondent: Shri Vipul Kashyap, Sr. DR
Section 132Section 147Section 271(1)(c)

erred in law in deleting the addition without appreciating the fact of the case.” 5. In this case, AO noted that DDIT, Investigation Wing, Murthal vide letter dated 13.03.2014 informed that search and seizure was carried out under section 132 of the Income-tax Act, 1961 (for short ... Rs.27,35,720/- 6 Parvati Exports AAEFP2530Q 2007-08 Rs.77,03,755/- Total Rs.2,87,58,745/- 6. AO further observed that Investigation Wing further informed that bogus unsecured loans and sales were being routed in benami concerns. Assessee in response responded that these are genuine transactions of the purchases

ACIT, New Delhi vs. M/S. Dhadda International, Delhi

In the result, the appeals filed by the Revenue are partly allowed

ITA 6691/DEL/2016[2007-08]Status: DisposedITAT Delhi03 Feb 2023AY 2007-08
For Appellant: Shri K. Sampath, AdvocateFor Respondent: Shri Vipul Kashyap, Sr. DR
Section 132Section 147Section 271(1)(c)

erred in law in deleting the addition without appreciating the fact of the case.” 5. In this case, AO noted that DDIT, Investigation Wing, Murthal vide letter dated 13.03.2014 informed that search and seizure was carried out under section 132 of the Income-tax Act, 1961 (for short ... Rs.27,35,720/- 6 Parvati Exports AAEFP2530Q 2007-08 Rs.77,03,755/- Total Rs.2,87,58,745/- 6. AO further observed that Investigation Wing further informed that bogus unsecured loans and sales were being routed in benami concerns. Assessee in response responded that these are genuine transactions of the purchases

M/S Dhadda International, Delhi vs. ACIT, New Delhi

In the result, the appeals filed by the Revenue are partly allowed

ITA 6409/DEL/2016[2008-09]Status: DisposedITAT Delhi03 Feb 2023AY 2008-09
For Appellant: Shri K. Sampath, AdvocateFor Respondent: Shri Vipul Kashyap, Sr. DR
Section 132Section 147Section 271(1)(c)

erred in law in deleting the addition without appreciating the fact of the case.” 5. In this case, AO noted that DDIT, Investigation Wing, Murthal vide letter dated 13.03.2014 informed that search and seizure was carried out under section 132 of the Income-tax Act, 1961 (for short ... Rs.27,35,720/- 6 Parvati Exports AAEFP2530Q 2007-08 Rs.77,03,755/- Total Rs.2,87,58,745/- 6. AO further observed that Investigation Wing further informed that bogus unsecured loans and sales were being routed in benami concerns. Assessee in response responded that these are genuine transactions of the purchases

M/S Dhadda International, Delhi vs. ACIT, New Delhi

In the result, the appeals filed by the Revenue are partly allowed

ITA 6408/DEL/2016[2007-08]Status: DisposedITAT Delhi03 Feb 2023AY 2007-08
For Appellant: Shri K. Sampath, AdvocateFor Respondent: Shri Vipul Kashyap, Sr. DR
Section 132Section 147Section 271(1)(c)

erred in law in deleting the addition without appreciating the fact of the case.” 5. In this case, AO noted that DDIT, Investigation Wing, Murthal vide letter dated 13.03.2014 informed that search and seizure was carried out under section 132 of the Income-tax Act, 1961 (for short ... Rs.27,35,720/- 6 Parvati Exports AAEFP2530Q 2007-08 Rs.77,03,755/- Total Rs.2,87,58,745/- 6. AO further observed that Investigation Wing further informed that bogus unsecured loans and sales were being routed in benami concerns. Assessee in response responded that these are genuine transactions of the purchases

Late Sunil D Gulati, Mumbai vs. Commissioner of Income Tax -Central Circle-39, Mumbai

In the result, the appeals of the assessee for assessment year

ITA 2092/MUM/2022[2009-10]Status: DisposedITAT Mumbai02 Feb 2023AY 2009-10

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 & Assessment Year: 2009-10 Late Sunil D Gulati, Cit-Central Circle 39, 603, Elco Residency, Almeda Room No. 1924, 19Th Floor, Vs. Park Behind Elco Market, Air India Building, Nariman Bandra (West), Point, Churchgate, Mumbai-400050. Mumbai-400020. Pan No. Aehpg 8703 R Appellant Respondent

For Respondent: Assessee by Mr. Hitesh Shah, AR
Section 143(3)Section 68

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI RAHUL

Late Sunil D Gulati, Mumbai vs. Commissioner of Income Tax -Central Circle-39, Mumbai

In the result, the appeals of the assessee for assessment year

ITA 2091/MUM/2022[2008-09]Status: DisposedITAT Mumbai02 Feb 2023AY 2008-09

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 & Assessment Year: 2009-10 Late Sunil D Gulati, Cit-Central Circle 39, 603, Elco Residency, Almeda Room No. 1924, 19Th Floor, Vs. Park Behind Elco Market, Air India Building, Nariman Bandra (West), Point, Churchgate, Mumbai-400050. Mumbai-400020. Pan No. Aehpg 8703 R Appellant Respondent

For Respondent: Assessee by Mr. Hitesh Shah, AR
Section 143(3)Section 68

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI RAHUL

Dharambir Khattar, Gurgaon vs. ACIT, Central Circle-6, New Delhi

ITA 821/DEL/2020[2011-12]Status: DisposedITAT Delhi02 Feb 2023AY 2011-12
Section 142(1)Section 143(2)Section 147Section 148Section 151Section 68Section 69A

erred in upholding assessment which was completed by Ld. Assessing officer without application of his mind and only in compliance of directions issued by investigation wing through seniors of assessing officer thereby Page 2 of 6 Dharambir Khattar Vs. ACIT violated principles governing administration of justice by quasi-judicial authorities