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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

Crosslink Finlease Pvt. Ltd., New Delhi vs. ITO Ward - 6(4), New Delhi

In the result, the appeal is partly allowed for statistical

ITA 6267/DEL/2019[2009-10]Status: DisposedITAT Delhi27 Oct 2022AY 2009-10

Bench: Shri Saktijit Deyassessment Year: 2009-10 M/S. Cross Links Finlease Vs. Income Tax Officer, Pvt. Ltd. , Ward-6(4), B-1, Kalindi Colony, New Delhi New Delhi Pan :Aabcc3727A (Appellant) (Respondent)

Section 143(1)Section 147Section 14ASection 94(7)

return of income filed by the assessee was processed under section 143(1) of the Act. Subsequently, the Assessing Officer received information from Investigation Wing indicating that the assessee is one of the companies which has created fictitious profit and loss by misusing the client code modification facility in Future ... before me, learned counsel appearing for the assessee submitted that the reopening of assessment is merely on the basis of report received from the Investigation Wing without independent application of mind. He submitted, the reasons recorded do not reveal any finding of the Assessing Officer that the client code modification

Rameshkumar Laxmanlal Siroya, Mumbai vs. Income Tax Officer, WD-3(2)(6), Surat

In the result, assessee’s appeal ITA No

ITA 49/SRT/2022[2009-10]Status: DisposedITAT Surat26 Oct 2022AY 2009-10

Bench: Shri Pawan Singhआ.अ.सं./Ita Nos.48 & 49/Srt/2022 (Ay 2009-10) (Hearing In Virtual Court) Rameshkumar Laxmanlal Income Tax Officer, Ward- Siroya, 7/C Supari Baugh 3(2)(6), Anavil Business Vs Mension, Nirmala Niwas, 34 Center, Adajan Hazira Dr. Ambedkar Road, Parel, Road, Adajan, Mumbai-400012 Surat-395 007 Pan : Afaps 0153 D अपीलाथ"/Appellant ""यथ" /Respondent

Section 144Section 148Section 151Section 254(1)Section 271(1)(c)Section 274

assessee is a beneficiary 5 ITA Nos.48-49/SRT/2022 (A.Y 09-10) Rameshkumar L Siroya of bogus purchases shown from Bhanwarlal Jain and his group. The Investigation Wing made a search and seizure action on 03.10.2013. In the said search, certain incriminating material and evidence was allegedly recovered to show that Bhanwarlal

Rameshkumar Laxmanlal Siroya, Mumbai vs. Income Tax Officer, WD-3(2)(6), Surat

In the result, assessee’s appeal ITA No

ITA 48/SRT/2022[2009-10]Status: DisposedITAT Surat26 Oct 2022AY 2009-10

Bench: Shri Pawan Singhआ.अ.सं./Ita Nos.48 & 49/Srt/2022 (Ay 2009-10) (Hearing In Virtual Court) Rameshkumar Laxmanlal Income Tax Officer, Ward- Siroya, 7/C Supari Baugh 3(2)(6), Anavil Business Vs Mension, Nirmala Niwas, 34 Center, Adajan Hazira Dr. Ambedkar Road, Parel, Road, Adajan, Mumbai-400012 Surat-395 007 Pan : Afaps 0153 D अपीलाथ"/Appellant ""यथ" /Respondent

Section 144Section 148Section 151Section 254(1)Section 271(1)(c)Section 274

assessee is a beneficiary 5 ITA Nos.48-49/SRT/2022 (A.Y 09-10) Rameshkumar L Siroya of bogus purchases shown from Bhanwarlal Jain and his group. The Investigation Wing made a search and seizure action on 03.10.2013. In the said search, certain incriminating material and evidence was allegedly recovered to show that Bhanwarlal

Sri K. Madhavachary vs. Asst.Commissioner of It(Inv0, Hyd

The appeal is dismissed

ITTA/105/2004HC Telangana26 Oct 2022

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

For Appellant: SRl. A.V. KRISHNA KOUNDINYA Senior Counsel forFor Respondent: SRI B. NARASIMHA SARMA, SC for
Section 132Section 158Section 1aSection 260A

present appeal has been preferred bythe appellant/assessee. 9. According to leamed Senior Counsel for the appellant, in view of the report of the investigation wing of the Income Tax Department, Ahmedabad, it was a case of further/deeper investigation by the assessing officer to asceftain genuineness of the transactlon. Instead ... which was construed to be investment 2 ,/ from r.rnexplained sources. In this regard, assessing' officer considered the r-eport of the investigation wing of the Income Tax Depanment and thereafter recorded as follows: CLANDESTINE OPERATION IN SILVER BARS AND UNEXPLAINED INVESTMENT IN THIS BUSINESS: At the outset

M/S Kuber Roller Flour Mills, Chandigarh vs. ITO-Ward-2(1), Chandigarh

In the result, appeal of the assessee is allowed

ITA 145/CHANDI/2020[2011-12]Status: DisposedITAT Chandigarh26 Oct 2022AY 2011-12
For Appellant: Shri B.M. Monga, AdvocateFor Respondent: Smt. Amanpreet Kaur, Sr. DR
Section 131Section 133(6)Section 143(2)Section 148Section 250(6)

weigh bridge where the trucks were weighed with wheat ,called as dharam kanta parchi. 4. However, the AO has referred about the report from investigation wing of income tax department, Karnal where by the statement of Sh. Rajesh Mittal states he has not made any sales to us. Neither ... Appeals) allowed the appeal of the assesee stating: “Thus, the entire disallowance in this case is based on third party information gathered by the Investigation Wing of the Department, which have not been independently subjected to further verification by the AO who has not provided the copy of such statements

Nitya Infotech P.Ltd, New Delhi vs. ITO, Ward-18(3), New Delhi

In the result, appeal is “Dismissed"

ITA 7448/DEL/2018[2008-09]Status: DisposedITAT Delhi25 Oct 2022AY 2008-09

Bench: Sh. Kul Bharatdr. B. R. R. Kumarita No. 7448/Del/2018 : Asstt. Year : 2008-09 Nitya Infotech Pvt. Ltd. Vs Income Tax Officer, (Merged With M/S Vatsal Ward-18(3), Infraprojects Pvt. Ltd.), Plot No. M-7, New Delhi M-52/53, Ground Floor, Gali No. 10, Anand Prabat Industrial Area, New Delhi-110005 (Appellant) (Respondent) Pan No. Aaccn5446L Assessee By : Sh. Ved Jain, Adv. & Sh. Aman Garg, Ca Revenue By : Sh. Jeetender Chand, Sr. Dr Date Of Hearing: 25.10.2022 Date Of Pronouncement: 25.10.2022

For Appellant: Sh. Ved Jain, Adv. &For Respondent: Sh. Jeetender Chand, Sr. DR
Section 142(3)Section 147Section 148Section 68Section 69C

case, the learned CIT(A) has erred in confirming the action of the Ld. AO merely relying on the report of the investigation wing and without application of his own mind. 13. (i) On the facts and circumstances of the case the learned CIT(A) has erred both on facts

ITO, Ward 2(3)(8), Surat vs. Rakesh Kailashchand Jain, Surat

In the result the ground No

ITA 464/SRT/2019[2015-16]Status: DisposedITAT Surat21 Oct 2022AY 2015-16

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.449 To 451/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) Rakesh Kailashchand Jain, Vs. The Ito, Ward-2(3)(8), 330, Blue Diamond, Hath Falia, Surat. Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Appellant) (Respondent) आयकर अपील सं./Ita Nos.462 To 464/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) The Ito, Ward-2(3)(8), Vs. Rakesh Kailashchand Jain, Surat. 330, Blue Diamond, Hath Falia, Mahidharpura, Surat- 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Revenue) (Assessee) Assessee By Shri Rasesh Shah, Ca Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 09/09/2022 21/10/2022 Date Of Pronouncement

Section 143(3)

Shri Rajendra Jain Group. This office is in possession of information that a search and seizure action has been carried out by the Investigation Wing, Mumbai on the Shri Rajendra Jain Group which was indulged in providing of accommodation entries in the form of unsecured loans, bogus purchases/sales ... course of search which proved that these concerns were not into any genuine business. Such findings are enumerated. The above finding of the investigation Wing as summarized above clearly established the bogus nature of the transactions entered into by the Shri Rajendra Jain Group. The investigation Wing has carried

ITO, Ward 2(3)(8), Surat vs. Rakesh Kailashchand Jain, Surat

In the result the ground No

ITA 463/SRT/2019[2014-15]Status: DisposedITAT Surat21 Oct 2022AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.449 To 451/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) Rakesh Kailashchand Jain, Vs. The Ito, Ward-2(3)(8), 330, Blue Diamond, Hath Falia, Surat. Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Appellant) (Respondent) आयकर अपील सं./Ita Nos.462 To 464/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) The Ito, Ward-2(3)(8), Vs. Rakesh Kailashchand Jain, Surat. 330, Blue Diamond, Hath Falia, Mahidharpura, Surat- 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Revenue) (Assessee) Assessee By Shri Rasesh Shah, Ca Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 09/09/2022 21/10/2022 Date Of Pronouncement

Section 143(3)

Shri Rajendra Jain Group. This office is in possession of information that a search and seizure action has been carried out by the Investigation Wing, Mumbai on the Shri Rajendra Jain Group which was indulged in providing of accommodation entries in the form of unsecured loans, bogus purchases/sales ... course of search which proved that these concerns were not into any genuine business. Such findings are enumerated. The above finding of the investigation Wing as summarized above clearly established the bogus nature of the transactions entered into by the Shri Rajendra Jain Group. The investigation Wing has carried

ITO, Ward 2(3)(8), Surat vs. Rakesh Kailashchand Jain, Surat

In the result the ground No

ITA 462/SRT/2019[2013-14]Status: DisposedITAT Surat21 Oct 2022AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.449 To 451/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) Rakesh Kailashchand Jain, Vs. The Ito, Ward-2(3)(8), 330, Blue Diamond, Hath Falia, Surat. Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Appellant) (Respondent) आयकर अपील सं./Ita Nos.462 To 464/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) The Ito, Ward-2(3)(8), Vs. Rakesh Kailashchand Jain, Surat. 330, Blue Diamond, Hath Falia, Mahidharpura, Surat- 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Revenue) (Assessee) Assessee By Shri Rasesh Shah, Ca Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 09/09/2022 21/10/2022 Date Of Pronouncement

Section 143(3)

Shri Rajendra Jain Group. This office is in possession of information that a search and seizure action has been carried out by the Investigation Wing, Mumbai on the Shri Rajendra Jain Group which was indulged in providing of accommodation entries in the form of unsecured loans, bogus purchases/sales ... course of search which proved that these concerns were not into any genuine business. Such findings are enumerated. The above finding of the investigation Wing as summarized above clearly established the bogus nature of the transactions entered into by the Shri Rajendra Jain Group. The investigation Wing has carried

Rakesh Kailashchand Jain, Surat vs. ITO, Ward-2(3)(8), Surat

In the result the ground No

ITA 451/SRT/2019[2015-16]Status: DisposedITAT Surat21 Oct 2022AY 2015-16

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.449 To 451/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) Rakesh Kailashchand Jain, Vs. The Ito, Ward-2(3)(8), 330, Blue Diamond, Hath Falia, Surat. Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Appellant) (Respondent) आयकर अपील सं./Ita Nos.462 To 464/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) The Ito, Ward-2(3)(8), Vs. Rakesh Kailashchand Jain, Surat. 330, Blue Diamond, Hath Falia, Mahidharpura, Surat- 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Revenue) (Assessee) Assessee By Shri Rasesh Shah, Ca Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 09/09/2022 21/10/2022 Date Of Pronouncement

Section 143(3)

Shri Rajendra Jain Group. This office is in possession of information that a search and seizure action has been carried out by the Investigation Wing, Mumbai on the Shri Rajendra Jain Group which was indulged in providing of accommodation entries in the form of unsecured loans, bogus purchases/sales ... course of search which proved that these concerns were not into any genuine business. Such findings are enumerated. The above finding of the investigation Wing as summarized above clearly established the bogus nature of the transactions entered into by the Shri Rajendra Jain Group. The investigation Wing has carried

Rakesh Kailashchand Jain, Surat vs. ITO, Ward-2(3)(8), Surat

In the result the ground No

ITA 450/SRT/2019[2014-15]Status: DisposedITAT Surat21 Oct 2022AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.449 To 451/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) Rakesh Kailashchand Jain, Vs. The Ito, Ward-2(3)(8), 330, Blue Diamond, Hath Falia, Surat. Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Appellant) (Respondent) आयकर अपील सं./Ita Nos.462 To 464/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) The Ito, Ward-2(3)(8), Vs. Rakesh Kailashchand Jain, Surat. 330, Blue Diamond, Hath Falia, Mahidharpura, Surat- 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Revenue) (Assessee) Assessee By Shri Rasesh Shah, Ca Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 09/09/2022 21/10/2022 Date Of Pronouncement

Section 143(3)

Shri Rajendra Jain Group. This office is in possession of information that a search and seizure action has been carried out by the Investigation Wing, Mumbai on the Shri Rajendra Jain Group which was indulged in providing of accommodation entries in the form of unsecured loans, bogus purchases/sales ... course of search which proved that these concerns were not into any genuine business. Such findings are enumerated. The above finding of the investigation Wing as summarized above clearly established the bogus nature of the transactions entered into by the Shri Rajendra Jain Group. The investigation Wing has carried

Rakesh Kailashchand Jain, Surat vs. ITO, Ward-2(3)(8), Surat

In the result the ground No

ITA 449/SRT/2019[2013-14]Status: DisposedITAT Surat21 Oct 2022AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.449 To 451/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) Rakesh Kailashchand Jain, Vs. The Ito, Ward-2(3)(8), 330, Blue Diamond, Hath Falia, Surat. Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Appellant) (Respondent) आयकर अपील सं./Ita Nos.462 To 464/Srt/2019 Assessment Years: (2013-14 To 2015-16) (Physical Court Hearing) The Ito, Ward-2(3)(8), Vs. Rakesh Kailashchand Jain, Surat. 330, Blue Diamond, Hath Falia, Mahidharpura, Surat- 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahbpj4326J (Revenue) (Assessee) Assessee By Shri Rasesh Shah, Ca Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 09/09/2022 21/10/2022 Date Of Pronouncement

Section 143(3)

Shri Rajendra Jain Group. This office is in possession of information that a search and seizure action has been carried out by the Investigation Wing, Mumbai on the Shri Rajendra Jain Group which was indulged in providing of accommodation entries in the form of unsecured loans, bogus purchases/sales ... course of search which proved that these concerns were not into any genuine business. Such findings are enumerated. The above finding of the investigation Wing as summarized above clearly established the bogus nature of the transactions entered into by the Shri Rajendra Jain Group. The investigation Wing has carried

DCIT Khandwa, Khandwa vs. M/S Rajrajeshwar Cotton Corporation, Sendhwa

In the result, Revenue’s appeal as well as Assessee’s Cross-

ITA 573/IND/2019[2011`-12]Status: DisposedITAT Indore21 Oct 2022

Bench: Shri Siddhartha Nautiyal & Shri B.M. Biyani(Conducted Through Virtual Court) & C.O. No. 9/Ind/2020 Assessment Year: 2011-12 Dcit M/S Raj Rajeshwar Cotton Khandwa Corporation, बनाम/ Warla Road, Sendhwa, Vs. District - Khandwa (Appellant / Revenue) (Respondent / Assessee) Pan: Aagfr 6243 N Assessee By None Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2022 Date Of Pronouncement 21.10.2022

Section 143(3)Section 147Section 148Section 80I

found that there was no nexus with reasons recorded for initiating reassessment proceedings and the information received by the AO from the investigating wing accordingly reassessment was held to be bad in law". (vi) In the case of Deepraj Hospital (P.) Ltd vs ITO 41/AGRA/2017 AY 2010-11 Dated ... reopening void." (vii) ITO vs Reliance Corporation (2017) 55 ITR 69 (SN) (Mumbai) [Trib]. Reassessment solely made on the basis of information received from investigation wing as assessee as beneficiaries of accommodation entries was held to be valid when no cross examination allowed to the assessee

Jayshree Vinit Shah, Mumbai vs. ITO, WD- 24 (2)(2), Mumbai

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

ITA 185/MUM/2019[2014-15]Status: DisposedITAT Mumbai21 Oct 2022AY 2014-15
Section 131Section 142Section 143(2)Section 147BSection 250Section 68Section 69

selected for scrutiny for the reason that there was suspicious transaction relating to short term capital loss on shares as per information from Investigation wing and indulgence in penny stock activities. Notice u/s 143(2), dated 18.09.2015 and notice u/s 142 (1) was issued and served on the assessee. Sumons

Remy Diamonds Private Limited, Mumbai vs. Principal Commissioner of Income Tax - 5, Mumbai

In the result, the appeals filed by the assessee are allowed for statistical purpose

ITA 3900/MUM/2018[2010-11]Status: DisposedITAT Mumbai21 Oct 2022AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. Nos. 3898 To 3900/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2008-09 To 2010-11) Remy Diamonds Pvt. Ltd. बिधम/ The Principal Commissioner Gw-1060, G- Block, Bharat Of Income Tax-5 Vs. Diamond Bourse, Mumbai Aayakar Bhavan, M. K. Kurla Complex, Bandra (E), Road, Mumbai-400051 Mumbai-400051. आयकर अपील सं/ I.T.A. Nos. 5481 To 5483/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2008-09 To 2010-11) Remy Diamonds Pvt. Ltd. बिधम/ Dcit, Circle-5(3)(1) Gw-1060, G- Block, Bharat Room No.573, Aayakar Vs. Diamond Bourse, Mumbai Bhavan, M. K. Road, Kurla Complex, Bandra (E), Mumbai-400020. Mumbai-400051. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcr2195R (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Hiren Vepari Revenue By: Smt. Mahita Nair (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 13/09/2022 घोषणा की तारीख /Date Of Pronouncement: 21/10/2022 आदेश / O R D E R Per Bench:

For Appellant: Shri Hiren VepariFor Respondent: Smt. Mahita Nair (Sr. AR)
Section 132Section 147Section 263

been admitted by Shri Bhanwarlal Jain in his statement recorded u/s 132(4) on 11.10.2013. 5. Subsequent to the receipt of information from the Investigation Wing on the basis of Which the assessment has been reopened u/s 147, information has again been received from the investigating that the assessee company ... appellant without appreciating the fact that addition of alleged bogus purchases cannot be made solely on the basis of information received from the Investigation Wing of the department Mumbai without conducting independent inquiry into facts of the statement made by third parties. 2. The Ld. AO has erred in making

Remy Diamonds Private Limited, Mumbai vs. Principal Commissioner of Income Tax - 5, Mumbai

In the result, the appeals filed by the assessee are allowed for statistical purpose

ITA 3899/MUM/2018[2009-10]Status: DisposedITAT Mumbai21 Oct 2022AY 2009-10

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. Nos. 3898 To 3900/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2008-09 To 2010-11) Remy Diamonds Pvt. Ltd. बिधम/ The Principal Commissioner Gw-1060, G- Block, Bharat Of Income Tax-5 Vs. Diamond Bourse, Mumbai Aayakar Bhavan, M. K. Kurla Complex, Bandra (E), Road, Mumbai-400051 Mumbai-400051. आयकर अपील सं/ I.T.A. Nos. 5481 To 5483/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2008-09 To 2010-11) Remy Diamonds Pvt. Ltd. बिधम/ Dcit, Circle-5(3)(1) Gw-1060, G- Block, Bharat Room No.573, Aayakar Vs. Diamond Bourse, Mumbai Bhavan, M. K. Road, Kurla Complex, Bandra (E), Mumbai-400020. Mumbai-400051. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcr2195R (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Hiren Vepari Revenue By: Smt. Mahita Nair (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 13/09/2022 घोषणा की तारीख /Date Of Pronouncement: 21/10/2022 आदेश / O R D E R Per Bench:

For Appellant: Shri Hiren VepariFor Respondent: Smt. Mahita Nair (Sr. AR)
Section 132Section 147Section 263

been admitted by Shri Bhanwarlal Jain in his statement recorded u/s 132(4) on 11.10.2013. 5. Subsequent to the receipt of information from the Investigation Wing on the basis of Which the assessment has been reopened u/s 147, information has again been received from the investigating that the assessee company ... appellant without appreciating the fact that addition of alleged bogus purchases cannot be made solely on the basis of information received from the Investigation Wing of the department Mumbai without conducting independent inquiry into facts of the statement made by third parties. 2. The Ld. AO has erred in making

Remy Diamonds Private Limited, Mumbai vs. Principal Commissioner of Income Tax - 5, Mumbai

In the result, the appeals filed by the assessee are allowed for statistical purpose

ITA 3898/MUM/2018[2008-09]Status: DisposedITAT Mumbai21 Oct 2022AY 2008-09

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. Nos. 3898 To 3900/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2008-09 To 2010-11) Remy Diamonds Pvt. Ltd. बिधम/ The Principal Commissioner Gw-1060, G- Block, Bharat Of Income Tax-5 Vs. Diamond Bourse, Mumbai Aayakar Bhavan, M. K. Kurla Complex, Bandra (E), Road, Mumbai-400051 Mumbai-400051. आयकर अपील सं/ I.T.A. Nos. 5481 To 5483/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2008-09 To 2010-11) Remy Diamonds Pvt. Ltd. बिधम/ Dcit, Circle-5(3)(1) Gw-1060, G- Block, Bharat Room No.573, Aayakar Vs. Diamond Bourse, Mumbai Bhavan, M. K. Road, Kurla Complex, Bandra (E), Mumbai-400020. Mumbai-400051. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcr2195R (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Hiren Vepari Revenue By: Smt. Mahita Nair (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 13/09/2022 घोषणा की तारीख /Date Of Pronouncement: 21/10/2022 आदेश / O R D E R Per Bench:

For Appellant: Shri Hiren VepariFor Respondent: Smt. Mahita Nair (Sr. AR)
Section 132Section 147Section 263

been admitted by Shri Bhanwarlal Jain in his statement recorded u/s 132(4) on 11.10.2013. 5. Subsequent to the receipt of information from the Investigation Wing on the basis of Which the assessment has been reopened u/s 147, information has again been received from the investigating that the assessee company ... appellant without appreciating the fact that addition of alleged bogus purchases cannot be made solely on the basis of information received from the Investigation Wing of the department Mumbai without conducting independent inquiry into facts of the statement made by third parties. 2. The Ld. AO has erred in making

DCIT 13(1)(2), Mumbai vs. Pebble Bay Developers P.Ltd, Mumbai

In the result, appeal of the In the result, appeal of the Revenue is allowed for statistical purposes, is allowed for statistical purposes, whereas the application of the assessee under rule 27 is ...

ITA 5744/MUM/2017[2008-09]Status: DisposedITAT Mumbai21 Oct 2022AY 2008-09

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2008-09 Dy. Commissioner Of Income- M/S Pebble Bay Developers Tax-13(1)(2), Pvt. Ltd., 2Nd Floor, Room No. 218, Vs. Raheja Chambers, Linking Aayakar Bhavan, M.K. Road, Road, Main Avenue Santacruz Mumbai-400020. (West), Mumbai-400054. Pan No. Aaccg 1645 E Appellant Respondent Revenue By : Ms. Vranda Matkari, Dr Assessee By : Mr. Nishit Gandhi, Ar Date Of Hearing : 26/08/2022 Date Of Pronouncement : 21/10/2022

For Appellant: Mr. Nishit Gandhi, ARFor Respondent: Ms. Vranda Matkari, DR
Section 143(1)Section 148Section 69C

assumption of escapement of income; escapement of income; (g) reopening is on the mere borrowed reopening is on the mere borrowed satisfaction of the investigation wing without any application of mind. investigation wing without any application of mind. investigation wing without any application of mind. 2.2 It was contended that ... based on some purported that the notice issued by the AO is based on some purported information received from the investigation wing (ref. reasons at information received from the investigation wing (ref. reasons at information received from the investigation wing (ref. reasons at pgs.81 to 82 of PB). However

Jas Trading P.Ltd, Mumbai vs. ITO 9(2)(1), Mumbai

In the result we do not have any other option but to quash the reassessment proceedings

ITA 5850/MUM/2014[2005-06]Status: DisposedITAT Mumbai21 Oct 2022AY 2005-06

Bench: Shri Prashant Maharishi, Am & Shri Kavitha Rajgopal, Jm Ito 9(2)(1) Jas Trading P. Ltd 6D/603, Prem Nagar, S.V. Aaykar Bhavan, M.K.Rd Vs. Rd, Borivali (W) Mumbai- 400 020 (Appellant) (Respondent) Ito 9(2)(1) Jas Trading P. Ltd Aaykar Bhavan, M.K.Rd 6D/603, Prem Nagar, S.V. Vs. Rd, Borivali (W) Mumbai- 400 020 (Respondent) (Appellant) Pan No. Aaacj9837H Assessee By : Shri. Rahul Hakani. Revenue By : Shri. Achal Sharma (Cit Dr), Ms. Vranda U. Matkari Date Of Hearing: 25.07.2022. Date Of Pronouncement: 21.10.2022. O R D E R

For Appellant: Shri. Rahul HakaniFor Respondent: Shri. Achal Sharma (CIT DR)
Section 133ASection 143Section 147Section 148Section 40A

picked up for scrutiny and therefore was final. Subsequently, the reassessment proceedings were initiated because a survey under section 133A was conducted by investigation wing in case of Mr. Vinayak Kokate Who is the proprietor of three different firms. It was found that he was issuing bogus purchase bill

Jas Trading P.Ltd, Mumbai vs. ITO 9(2)(1), Mumbai

In the result we do not have any other option but to quash the reassessment proceedings

ITA 3603/MUM/2013[2006-07]Status: DisposedITAT Mumbai21 Oct 2022AY 2006-07

Bench: Shri Prashant Maharishi, Am & Shri Kavitha Rajgopal, Jm Ito 9(2)(1) Jas Trading P. Ltd 6D/603, Prem Nagar, S.V. Aaykar Bhavan, M.K.Rd Vs. Rd, Borivali (W) Mumbai- 400 020 (Appellant) (Respondent) Ito 9(2)(1) Jas Trading P. Ltd Aaykar Bhavan, M.K.Rd 6D/603, Prem Nagar, S.V. Vs. Rd, Borivali (W) Mumbai- 400 020 (Respondent) (Appellant) Pan No. Aaacj9837H Assessee By : Shri. Rahul Hakani. Revenue By : Shri. Achal Sharma (Cit Dr), Ms. Vranda U. Matkari Date Of Hearing: 25.07.2022. Date Of Pronouncement: 21.10.2022. O R D E R

For Appellant: Shri. Rahul HakaniFor Respondent: Shri. Achal Sharma (CIT DR)
Section 133ASection 143Section 147Section 148Section 40A

picked up for scrutiny and therefore was final. Subsequently, the reassessment proceedings were initiated because a survey under section 133A was conducted by investigation wing in case of Mr. Vinayak Kokate Who is the proprietor of three different firms. It was found that he was issuing bogus purchase bill