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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

M/S Omkar Engineer and Contractor, Sangrur vs. Pcti, Patiala

The appeals of the assessees stand allowed

ITA 484/CHANDI/2022[2012-13]Status: DisposedITAT Chandigarh30 Sept 2022AY 2012-13

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadav

For Appellant: Sh. Ashwani Kumar, CAFor Respondent: Sh. Sarabjit Singh, CIT DR
Section 133(6)Section 148Section 44A

work claimed to have been carried out by the assessee firm and that the AO had just relied upon the information available from the investigation wing and had passed the assessment order without conducting any relevant inquiries. It was the Ld. PCIT’s observation that the conclusion

M/S Maa Bhagwati Enterprises, Sangrur vs. PCIT, Patiala

The appeals of the assessees stand allowed

ITA 483/CHANDI/2022[2012-13]Status: DisposedITAT Chandigarh30 Sept 2022AY 2012-13

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadav

For Appellant: Sh. Ashwani Kumar, CAFor Respondent: Sh. Sarabjit Singh, CIT DR
Section 133(6)Section 148Section 44A

work claimed to have been carried out by the assessee firm and that the AO had just relied upon the information available from the investigation wing and had passed the assessment order without conducting any relevant inquiries. It was the Ld. PCIT’s observation that the conclusion

M/S Shiv Shakti Construction, Sangrur vs. PCIT, Patiala

The appeals of the assessees stand allowed

ITA 481/CHANDI/2022[2012-13]Status: DisposedITAT Chandigarh30 Sept 2022AY 2012-13

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadav

For Appellant: Sh. Ashwani Kumar, CAFor Respondent: Sh. Sarabjit Singh, CIT DR
Section 133(6)Section 148Section 44A

work claimed to have been carried out by the assessee firm and that the AO had just relied upon the information available from the investigation wing and had passed the assessment order without conducting any relevant inquiries. It was the Ld. PCIT’s observation that the conclusion

Aniruddha N. Malpani, Mumbai vs. DCIT- CC - 3 (2), Mumbai

ITA 3924/MUM/2019[2010-11]Status: DisposedITAT Mumbai30 Sept 2022AY 2010-11
For Appellant: Shri Hiro RaiFor Respondent: Shri Rakesh Garg
Section 132Section 143(3)Section 153C

material and prior to operation of the last prohibitory order to the search action the issue relating to capital gain/loss was examined by the Investigation Wing and ITA Nos. 3917-3921/Mum/2019, ITA Nos. 3924-3928/Mum/2019, ITA Nos. 4120, 4122, 4123 & 4114/Mum/2019 statement of the Assessee and his wife

Anjali A. Malpani, Mumbai vs. DCIT - CC- 3(2), Mumbai

ITA 3917/MUM/2019[2010-11]Status: DisposedITAT Mumbai30 Sept 2022AY 2010-11
For Appellant: Shri Hiro RaiFor Respondent: Shri Rakesh Garg
Section 132Section 143(3)Section 153C

material and prior to operation of the last prohibitory order to the search action the issue relating to capital gain/loss was examined by the Investigation Wing and ITA Nos. 3917-3921/Mum/2019, ITA Nos. 3924-3928/Mum/2019, ITA Nos. 4120, 4122, 4123 & 4114/Mum/2019 statement of the Assessee and his wife

DCIT -CC- 8(4), Mumbai vs. Bermaco Energy System Ltd., Mumbai

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are dismissed

ITA 3752/MUM/2018[2008-09]Status: DisposedITAT Mumbai30 Sept 2022AY 2008-09

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

Section 132Section 143(3)Section 153ASection 250Section 44A

Officer alleged that there was no business activity carried out in the factory premises of the assessee company as per the findings of the Investigation Wing and held that the said expenses incurred by the assessee are in the nature of bogus expenses. The assessee replied for the said allegation ... basis that statement under section 132(4) was recorded without any force, coercion or undue pressure. The Ld.CIT(A) has also stated that the Investigation Wing, while carrying out enquiries pertaining to the concerned parties could not trace out some of the parties at the address and concluded that

DCIT -CC- 8(4), Mumbai vs. Bermaco Energy System Ltd., Mumbai

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are dismissed

ITA 3751/MUM/2018[2007-08]Status: DisposedITAT Mumbai30 Sept 2022AY 2007-08

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

Section 132Section 143(3)Section 153ASection 250Section 44A

Officer alleged that there was no business activity carried out in the factory premises of the assessee company as per the findings of the Investigation Wing and held that the said expenses incurred by the assessee are in the nature of bogus expenses. The assessee replied for the said allegation ... basis that statement under section 132(4) was recorded without any force, coercion or undue pressure. The Ld.CIT(A) has also stated that the Investigation Wing, while carrying out enquiries pertaining to the concerned parties could not trace out some of the parties at the address and concluded that

DCIT - CC - 8(4), Mumbai vs. Bermaco Energy System Ltd., Mumbai

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are dismissed

ITA 3750/MUM/2018[2010-11]Status: DisposedITAT Mumbai30 Sept 2022AY 2010-11

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

Section 132Section 143(3)Section 153ASection 250Section 44A

Officer alleged that there was no business activity carried out in the factory premises of the assessee company as per the findings of the Investigation Wing and held that the said expenses incurred by the assessee are in the nature of bogus expenses. The assessee replied for the said allegation ... basis that statement under section 132(4) was recorded without any force, coercion or undue pressure. The Ld.CIT(A) has also stated that the Investigation Wing, while carrying out enquiries pertaining to the concerned parties could not trace out some of the parties at the address and concluded that

DCIT -CC -8 (4), Mumbai vs. Bermaco Energy System Ltd., Mumbai

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are dismissed

ITA 3749/MUM/2018[2009-10]Status: DisposedITAT Mumbai30 Sept 2022AY 2009-10

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

Section 132Section 143(3)Section 153ASection 250Section 44A

Officer alleged that there was no business activity carried out in the factory premises of the assessee company as per the findings of the Investigation Wing and held that the said expenses incurred by the assessee are in the nature of bogus expenses. The assessee replied for the said allegation ... basis that statement under section 132(4) was recorded without any force, coercion or undue pressure. The Ld.CIT(A) has also stated that the Investigation Wing, while carrying out enquiries pertaining to the concerned parties could not trace out some of the parties at the address and concluded that

Bermaco Energy System Limited, Mumbai vs. DCIT, CC- 47, Mumbai

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are dismissed

ITA 2854/MUM/2018[2009-10]Status: DisposedITAT Mumbai30 Sept 2022AY 2009-10

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

Section 132Section 143(3)Section 153ASection 250Section 44A

Officer alleged that there was no business activity carried out in the factory premises of the assessee company as per the findings of the Investigation Wing and held that the said expenses incurred by the assessee are in the nature of bogus expenses. The assessee replied for the said allegation ... basis that statement under section 132(4) was recorded without any force, coercion or undue pressure. The Ld.CIT(A) has also stated that the Investigation Wing, while carrying out enquiries pertaining to the concerned parties could not trace out some of the parties at the address and concluded that

Bermaco Energy System Limited, Mumbai vs. DCIT - CC- 47, Mumbai

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are dismissed

ITA 2853/MUM/2018[2008-09]Status: DisposedITAT Mumbai30 Sept 2022AY 2008-09

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

Section 132Section 143(3)Section 153ASection 250Section 44A

Officer alleged that there was no business activity carried out in the factory premises of the assessee company as per the findings of the Investigation Wing and held that the said expenses incurred by the assessee are in the nature of bogus expenses. The assessee replied for the said allegation ... basis that statement under section 132(4) was recorded without any force, coercion or undue pressure. The Ld.CIT(A) has also stated that the Investigation Wing, while carrying out enquiries pertaining to the concerned parties could not trace out some of the parties at the address and concluded that

Bermaco Energy System Limited, Mumbai vs. DCIT- CC-47 Mumbai, Mumbai

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are dismissed

ITA 2852/MUM/2018[2007-08]Status: DisposedITAT Mumbai30 Sept 2022AY 2007-08

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

Section 132Section 143(3)Section 153ASection 250Section 44A

Officer alleged that there was no business activity carried out in the factory premises of the assessee company as per the findings of the Investigation Wing and held that the said expenses incurred by the assessee are in the nature of bogus expenses. The assessee replied for the said allegation ... basis that statement under section 132(4) was recorded without any force, coercion or undue pressure. The Ld.CIT(A) has also stated that the Investigation Wing, while carrying out enquiries pertaining to the concerned parties could not trace out some of the parties at the address and concluded that

ACIT Cir 7(3)(1), Mumbai vs. Parenteral Drugs (India) Ltd., Mumbai

In the result, appeal of the Revenue is dismissed

ITA 2777/MUM/2018[2009-10]Status: DisposedITAT Mumbai30 Sept 2022AY 2009-10

Bench: Us.

Section 143(3)Section 148Section 151Section 68Section 80I

depreciation claimed by the assessee amounting to Rs. 2,76,50,141/-, without appreciating the fact that the information has been received from the Investigation Wing and the inference are based on actual findings and evidence gathered during the course of survey action.". 2. "On the facts ... that the assessee has failed to discharge its onus to furnish the evidences in support of its claim to negate the finding of the Investigation Wing and the Assessing Officer of M/s Anitas Exports Pvt. Ltd.. 3. The appellant craves leave to amend or alter any ground

Deputy Commissioner of Income-Tax, Circle - Ichalkranji, Ichalkranji vs. Manisha Rajendra Shete, Kolhapur

Appeals are allowed in above terms

ITA 666/PUN/2019[2015-16]Status: DisposedITAT Pune29 Sept 2022AY 2015-16

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No.664/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Nilawati Neminath Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8442 H Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.665/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Niranjan Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Botps 0314 D Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.666/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Manisha Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8514 N Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 29/09/2022

Section 10(38)Section 143(3)Section 68

gaining Rs. 90,81,153/- in one year from a meager investment of Rs.5,00,000/-. AO further relied more on the report of Investigation Wing, Kolkata in the form of statement recorded in respect of Sh. Dokania and his confession of the modus operandi adopted by him in making ... hold that the said orders of SEBI is no evidence against the assessee, much less to speak of direct evidence. The enquiry by the Investigation Wing and/or the statements of several persons recorded by the Investigation Wing in connection with the alleged bogus transactions in the shares of KAFL also

Deputy Commissioner of Income-Tax, Ichalkaranji Circle, Ichalkaranji vs. Niranjan Rajendra Shete, Kolhapur

Appeals are allowed in above terms

ITA 665/PUN/2019[2015-16]Status: DisposedITAT Pune29 Sept 2022AY 2015-16

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No.664/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Nilawati Neminath Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8442 H Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.665/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Niranjan Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Botps 0314 D Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.666/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Manisha Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8514 N Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 29/09/2022

Section 10(38)Section 143(3)Section 68

gaining Rs. 90,81,153/- in one year from a meager investment of Rs.5,00,000/-. AO further relied more on the report of Investigation Wing, Kolkata in the form of statement recorded in respect of Sh. Dokania and his confession of the modus operandi adopted by him in making ... hold that the said orders of SEBI is no evidence against the assessee, much less to speak of direct evidence. The enquiry by the Investigation Wing and/or the statements of several persons recorded by the Investigation Wing in connection with the alleged bogus transactions in the shares of KAFL also

Deputy Commissioner of Income-Tax, Ichalkaranji Circle, Ichalkaranji vs. Nilawati Neminath Shete, Kolhapur

Appeals are allowed in above terms

ITA 664/PUN/2019[2015-16]Status: DisposedITAT Pune29 Sept 2022AY 2015-16

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No.664/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Nilawati Neminath Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8442 H Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.665/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Niranjan Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Botps 0314 D Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.666/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Manisha Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8514 N Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 29/09/2022

Section 10(38)Section 143(3)Section 68

gaining Rs. 90,81,153/- in one year from a meager investment of Rs.5,00,000/-. AO further relied more on the report of Investigation Wing, Kolkata in the form of statement recorded in respect of Sh. Dokania and his confession of the modus operandi adopted by him in making ... hold that the said orders of SEBI is no evidence against the assessee, much less to speak of direct evidence. The enquiry by the Investigation Wing and/or the statements of several persons recorded by the Investigation Wing in connection with the alleged bogus transactions in the shares of KAFL also

Jay Kumar Dubey, Howrah vs. I.T.O., Ward-46(4), Kolkata

In the result, appeals of all the captioned assessees are dismissed

ITA 841/KOL/2019[2014-15]Status: DisposedITAT Kolkata29 Sept 2022AY 2014-15

Bench: Shri Rajpal Yadav & Shri Girish Agrawal

Section 10(38)Section 143(3)Section 68

based his decision of treating the impugned transaction of sale of shares as bogus transaction by relying on the report of Investigation Wing of the Department wherein the Investigation Wing of the Department had studied the modus operandi of rigging the 7 ITA No.841/Kol/2019 & Ors. Jay Kumar Dubey

Shri Jayanta Dey, Hooghly vs. ITO, Ward - 24(1), Hooghly

In the result, appeals of all the captioned assessees are dismissed

ITA 79/KOL/2019[2014-15]Status: DisposedITAT Kolkata29 Sept 2022AY 2014-15

Bench: Shri Rajpal Yadav & Shri Girish Agrawal

Section 10(38)Section 143(3)Section 68

based his decision of treating the impugned transaction of sale of shares as bogus transaction by relying on the report of Investigation Wing of the Department wherein the Investigation Wing of the Department had studied the modus operandi of rigging the 7 ITA No.841/Kol/2019 & Ors. Jay Kumar Dubey

Ramesh Goyal, Siliguri vs. I.T.O., Ward-2(2), Siliguri

In the result, appeals of all the captioned assessees are dismissed

ITA 543/KOL/2019[2014-15]Status: DisposedITAT Kolkata29 Sept 2022AY 2014-15

Bench: Shri Rajpal Yadav & Shri Girish Agrawal

Section 10(38)Section 143(3)Section 68

based his decision of treating the impugned transaction of sale of shares as bogus transaction by relying on the report of Investigation Wing of the Department wherein the Investigation Wing of the Department had studied the modus operandi of rigging the 7 ITA No.841/Kol/2019 & Ors. Jay Kumar Dubey

Sukhla Hazra Choudhury, Burdwan vs. A.C.I.T., Circle-1, Burdwan

In the result, appeals of all the captioned assessees are dismissed

ITA 457/KOL/2019[2015-16]Status: DisposedITAT Kolkata29 Sept 2022AY 2015-16

Bench: Shri Rajpal Yadav & Shri Girish Agrawal

Section 10(38)Section 143(3)Section 68

based his decision of treating the impugned transaction of sale of shares as bogus transaction by relying on the report of Investigation Wing of the Department wherein the Investigation Wing of the Department had studied the modus operandi of rigging the 7 ITA No.841/Kol/2019 & Ors. Jay Kumar Dubey