← All Phrases

“investigation wing”

ReassessmentSection 147Section 14712,584 judgments

The decision most relied on for investigation wing is Sarthak Securities Co. Pvt. Ltd. v. ITO (329 ITR 110), cited in 217 judgments on BharatTax.

Leading authorities on investigation wing

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.

PCIT v. M/s. Kesoram Industries 57
417 ITR 334 · 2019 · High Court
96
citing judgments

An assessment completed under Section 143(3) cannot be reopened after four years solely based on third-party information or opinions, such as from an Investigation Wing, without the Assessing Officer applying their own independent mind to the material and having new, independent material on record.

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.

Aradhna Estate Pvt. Ltd. v. DCIT
91 Taxmann.com 119 · 2018 · High Court
56
citing judgments

The Assessing Officer is justified in reopening assessment proceedings based on information received from the Investigation Wing, even when recording findings also rely on documents already on record, provided all procedural requirements for reassessment are met.

Judgments citing investigation wing

R.S.Poultry Supplier, Sambhal vs. ITO Sambhal, Sambhal

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

ITA 857/DEL/2020[2011-12]Status: DisposedITAT Delhi22 Apr 2022AY 2011-12

Bench: Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.857/Del/2020 िनधा"रणवष"/Assessment Year: 2011-12 बनाम R.S. Poultry Supplier, Ito Mohalla Jagat, Sambhal, Vs. Sambhal. Uttar Pradesh. Pan No. Aalfr5302D अपीलाथ" Appellant ""यथ"/Respondent

Section 131Section 133ASection 148

Poultry & Supplier a partnership firm was run by Mohd. Razwan. Ld. Dr submits that a statement of Mohd. Rizwan was also recorded by the Investigation Wing by confronting the entries from the impounded documents which Mohd. Rizwan failed to I.T.A.No.857/Del/2020 explain. Based on these documents impounded in the course

Pamas Commodities Private Limited, New Delhi vs. ITO Ward - 19(3), New Delhi

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

ITA 12/DEL/2021[2011-12]Status: HeardITAT Delhi21 Apr 2022AY 2011-12

Bench: Shri Amit Shukla

For Appellant: Shri Neelesh Kumar Jain, CAFor Respondent: Shri Om Prakash, Senior DR
Section 115BSection 143(3)Section 147Section 148Section 151Section 68Section 69C

apply his mind while recording the reasons u/s 147 of the Act. The Reasons were recorded mechanically on borrowed satisfaction of Investigation Wing, without scrutiny of the return of income and Audited Final Accounts available on the Portal. 2. That the Learned Commissioner of Income Tax (Appeals) has also failed

M/S. Nitesh Estates Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle- 5(1)(2), Bangalore

In the result appeal filed by assessee stands allowed on legal issue raised in ground no

ITA 1486/BANG/2019[2009-10]Status: DisposedITAT Bangalore20 Apr 2022AY 2009-10

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2009-10 M/S. Nitesh Estates The Deputy Ltd., Commissioner Of Nitesh Time Square, Income Tax, 7Th Floor, #8, M.G. Road, Circle – 5 [1][2], Bangalore – 560 001. Vs. Bangalore. Pan: Aabcn9267C Appellant Respondent Assessee By : Shri V. Srinivasan, Advocate : Shri Sankar Ganesh K, Jcit Revenue By (Dr) Date Of Hearing : 04-02-2022 Date Of Pronouncement : 20-04-2022 Order Per Beena Pillaipresent Appeal Has Been Filed By Assessee Against Order Dated 28/03/2019 Passed By The Ld. Cit(A)-5, Bangalore For Assessment Year 2009-10 On Following Grounds Of Appeal: “1. The Orders Of The Authorities Below In So Far As They Are Against The Appellant Are Opposed To Law, Equity, Weight Of Evidence, Probabilities, Facts & Circumstances Of The Case. 2. The Order Of Re-Assessment Is Bad In Law & Void-Ab- Initio For Want Of Requisite Jurisdiction Especially, The Mandatory Requirements To Assume Jurisdiction U/S 148 Of The Act Did Not Exist & Have Not Been Complied With & Consequently, The Re-Assessment Requires To Be Cancelled. 3. The Learned Cit[A] Ought To Have Appreciated That There Was No Fresh Material To Show That Income Had Escaped Assessment Especially When There Was A Scrutiny

For Appellant: Shri V. Srinivasan, Advocate
Section 143Section 143(3)Section 147Section 148Section 234

being a quasi judicial authority, is expected to arrive at a subjective satisfaction independently on an objective criteria. (xi) While the report of the Investigation Wing might constitute the material, on the basis of which, the Assessing Officer forms the reasons to believe, the process of arriving at such satisfaction ... Court cannot be substituted for the "reasons to believe". (xiv) The decision to reopen the assessment on the basis of the report of the Investigation Wing cannot always be condemned or dubbed as a fishing or roving inquiry. The expression "reason to believe" appearing in Section 147 suggests that

ITO 10 (3)(1), Mumbai vs. New Empire Infrastructure Pvt. Ltd., Mumbai

In the result, this appeal by the revenue stands allowed for statistical purposes

ITA 6360/MUM/2019[2014-15]Status: DisposedITAT Mumbai18 Apr 2022AY 2014-15

Bench: Shri Shamim Yahya, Am & Shri Rahul Chaudhary, Jm

Section 131Section 131(1)(d)Section 68

behalf of the assessee, despite several notices. We note that in this case assessee has obtained unsecured loans from Kolkatta based parties found by investigation wing to be engaged in bogus accommodation entry business. The AO has found that these companies have meager net profit and huge share capital

Income Tax Officer, Ward-2 (3) (7), Surat vs. Dilkhush Babel, Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 1/SRT/2020[2012-13]Status: DisposedITAT Surat13 Apr 2022AY 2012-13

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Dilkhush Babel, Mumbai vs. ITO, Ward 2(3)(7), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 538/SRT/2019[2012-13]Status: DisposedITAT Surat13 Apr 2022AY 2012-13

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Ashish Mohan Mahawar, Mumbai vs. Income Tax Officer Ward 2(3)(7), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 42/SRT/2019[2008-09]Status: DisposedITAT Surat13 Apr 2022AY 2008-09

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Dilkhush Babel, Mumbai vs. Income Tax Officer Ward 2(3)(7), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 41/SRT/2019[2014-15]Status: DisposedITAT Surat13 Apr 2022AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Dilkhush Babel, Mumbai vs. Income Tax Officer Ward 2(3)(7), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 40/SRT/2019[2013-14]Status: DisposedITAT Surat13 Apr 2022AY 2013-14

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Income Tax Officer Ward 2(3)(7), Surat vs. Dilkhush Annraj Babel, Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 289/SRT/2019[2008-09]Status: DisposedITAT Surat13 Apr 2022AY 2008-09

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Dilkhush Babel, Surat vs. Income Tax Officer Ward 2(3)(7), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 261/SRT/2019[2015-16]Status: DisposedITAT Surat13 Apr 2022AY 2015-16

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Dilkhush Babel, Surat vs. Income Tax Officer Ward 2(3)(7), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 260/SRT/2019[2008-09]Status: DisposedITAT Surat13 Apr 2022AY 2008-09

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Shri Navratan Singh Jain, Mumbai vs. The Income Tax Officer, Ward-2(3)(8), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 259/SRT/2019[2015-16]Status: DisposedITAT Surat13 Apr 2022AY 2015-16

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Shri Navratan Singh Jain, Mumbai vs. The Income Tax Officer, Ward-2(3)(8), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 258/SRT/2019[2014-15]Status: DisposedITAT Surat13 Apr 2022AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

The Income Tax Officer, Ward-2(3)(8), Surat vs. Shri Navratan Jain, Mumbai

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 201/SRT/2019[2013-14]Status: DisposedITAT Surat13 Apr 2022AY 2013-14

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

The Income Tax Officer, Ward-2(3)(8), Surat vs. Shri Navratan Jain, Mumbai

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 200/SRT/2019[2008-09]Status: DisposedITAT Surat13 Apr 2022AY 2008-09

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Income Tax Officer Ward 2(3)(7), Surat vs. Dilkhush Babel, Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 124/SRT/2019[2014-15]Status: DisposedITAT Surat13 Apr 2022AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Income Tax Officer Ward 2(3)(7), Surat vs. Dilkhush Babel, Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 123/SRT/2019[2013-14]Status: DisposedITAT Surat13 Apr 2022AY 2013-14

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Income Tax Officer Ward 2(3)(7), Surat vs. Ashish Mohan Mahawar, Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 122/SRT/2019[2008-09]Status: DisposedITAT Surat13 Apr 2022AY 2008-09

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business

Shri Navratan Jain, Mumbai vs. The Income Tax Officer, Ward-2(3)(8), Surat

In the result, four appeals of Revenue are partly allowed whereas four assessee’s appeals are dismissed

ITA 106/SRT/2019[2013-14]Status: DisposedITAT Surat13 Apr 2022AY 2013-14

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 254(1)

bogus purchase bills provided for Pravin Kumar Jain Group. On Pravin Kumar Jain Group, a search and seizure action was carried out by Investigation Wing on 08.10.2013. During the course of search, it was established that this group concern was managing various firm, company proprietorship, firm with no real business ... purchases of assessee are genuine. The reply of assessee was not accepted by Assessing Officer. The Assessing Officer on the basis of report of Investigation Wing held that during the search & seizure action, which was conclusive group and Pravin Kumar Jain and his group, was engaged in the business