“investigation wing”

Mukesh Mittal, New Delhi vs. ITO, Ward-41(1), New Delhi

could not be accepted as 12 SA No.152/Del/2020 Sh. Mukesh Mittal vs. ITO genuine as it had been established by the Investigation Wing of the Department, after making detailed enquiries, that the brokers through whom the assessee had purchased shares were involved in business of providing accommodation entries and that ... rightly invoked the principle of preponderance of probability against the assessee. It was argued that the modus operandi was examined by the Kolkata Investigation Wing because there was a rigging in the profit. It was also contended that the order dated 20.9.2017 could not be relied upon since the company

Garg Zevar Palace Pvt. Ltd., New Delhi vs. ITO Ward-1(3), Faridabad

In the result, the appeal of the assessee is allowed

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 9542/Del/2019 : Asstt. Year : 2010-11 Garg Zevar Palace Pvt. Ltd., Vs Income Tax Officer(E), C/O Kapil Goel, Adv., Ward-1(3), F-26/124, Sector-7, Rohini, Faridabad, Haryana New Delhi-110085 (Appellant) (Respondent) Pan No. Aaccg0565H Assessee By : Sh. Kapil Goel, Adv. Revenue By : Sh. Prakash Dubey, Sr. Dr Date Of Hearing: 20.01.2021 Date Of Pronouncement: 26.03.2021

approval of PCIT by endorsing “I am satisfied” is mechanical approval not valid in eyes of law; f) Sixthly so called alleged information of investigation wing dated 20.03.2017 is no where placed on records so as to check what was in that information to implicate herein; accordingly orders ... without appreciating that provisions of section 68 cannot apply to subject share application money /share capital merely on sole and mere basis of investigation wing directions/dictates without independent examination etc, so addition made by Ld AO (Rs.60 lacs) and confirmed by CIT-A in impugned order deserves to be deleted

M/S Super Industries, New Delhi vs. ITO, New Delhi

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

Bench: Shri R.K. Pandaassessment Year: 2006-07 Super Industries, Vs Ito, Prop. S. Jagjit Singh, Ward-33(3), L/H Shri Joginder Singh, New Delhi. N.7, Gali No.9, Anand Parbat Industrial Area, New Delhi. Pan: Aasps8033M (Appellant) (Respondent) Assessee By : Shri Ramesh Goyal, Ca Revenue By : Ms Ranu Mukherjee, Sr. Dr Date Of Hearing : 17.03.2021 Date Of Pronouncement : 26.03.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 15Th September, 2015 Of The Cit(A)-17, New Delhi, Relating To Assessment Year 2006- 07. 2. This Appeal Was Earlier Dismissed By The Tribunal For Non-Appearance. Subsequently, The Tribunal, Vide Ma No.118/Del/2017, Order Dated 16Th February, 2018, Recalled Its Earlier Order. Hence, This Is A Recalled Matter. 3. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & The Proprietor Of M/S Super Industries. It Filed Its Return Of Income On 27Th October, 2006 Declaring The Total Income At Rs.1,89,640/-. Subsequently, The Case Of The Assessee Was Reopened On The Basis Of Information Obtained That The Assessee Indulged In Bogus Purchases/Accommodation Entries Provided By Shri Rakesh Gupta, Shri Vishesh Gupta, Shri Navneet & Shri Vaibhav Jain. Accordingly, The Case Of The Assessee Was Reopened After Recording Reasons As Per The Provisions Of Section 147 Of The Act. Notice U/S 148 Dated 28Th March, 2013 Was Issued & Served Upon The Assessee. The Ao, Thereafter, Issued Statutory Notices. Rejecting The Various Explanations Given By The Assessee & Observing That The Assessee Has Made Bogus Purchase Of Rs.13,03,692/- From Shree Bankey Bihari Trading Co. & Shree Shyam Trading Co., Which Are Owned By The Persons Named Earlier, Made Addition Of Rs.13,03,692/- U/S 69C Of The It Act.

case the action of Ld. AO is totally unjustified in re-opening the case u/s 147 on the basis of information received from investigation wing and has clearly not applied his mind. 2. That the action of Ld. AO in re-opening the case u/s 147 is totally wrong ... circumstances the Tribunal has quashed the reassessment proceedings on the ground that the case was reopened on the basis of information received from the Investigation Wing and the AO has not applied his mind before reopening of the assessment. He accordingly submitted that the validity of reassessment proceedings has been

ITO, New Delhi vs. M/S. Arizona Venutres Pvt. Ltd., New Delhi

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

show cause notice was the fact of search and seizure operation u/s.132 conducted at the office premises of Shri Tarun Goyal by the Investigation Wing way back on 15.09.2008, during the course of which, it was found and established that Shri Tarun Goyal was engaged in the business of providing ... Further in the cases where OFCD subscribers were based in Kolkata, Assessing Officer observed that department has gathered inquiry on sample basis by the Investigation Wing that two of the companies, M/s. Scan Industries Ltd. and M/s. Unisys Software Holdings Ltd. who had subscribed for the OFCDs issued

Balbir Investment Pvt Ltd, New Delhi vs. ITO Ward 4(2), New Delhi

In the result, appeal of the assessee is allowed

Bench: Shri R.K. Panda & Ms. Suchitra Kambleassessment Year : 2009-10

Investment 00 9 00 0 5 2 16 Pvt. Ltd. From the investigation carried out by the Investigation wing, it has become clear that all these companies are noting but paper/briefcase companies without any business activity and that their accounts are being used to rotate the funds for accommodation entries ... orders of the Assessing Officer and the CIT(A). He submitted that the Assessing Officer on the basis of information obtained from the Investigation Wing has reopened the assessment. Since, the Investigation Wing is a part of the Department and credible information was obtained, therefore, the assessee cannot say that

M/S. Kalinga Conduits Electricables (P) Ltd., New Delhi vs. Pr. CIT- 9, New Delhi

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

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastavaassessment Year: 2010-11 Kalinga Conduits Electricables (P) Vs Pr. Cit-9, Ltd., New Delhi. 81/41, Punjabi Bagh West, New Delhi. Pan : Aacck5784H (Appellant) (Respondent) Assessee By : Shri Gautam Jain, Advocate; Shri Rajiv Sabharwal, Ca; & Shri Lalit Mohan, Ca. Revenue By : Mrs. Aashna Paul, Cit-Dr Date Of Hearing : 18.02.2021 Date Of Pronouncement : 24.03.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 23Rd March, 2017 Passed U/S 263 Of The It Act, 1961 By The Pcit, New Delhi, Relating To The Assessment Year 2010-11. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company & Filed Its Return Of Income On 30Th September, 2010 Declaring An Income Of Rs.5,940/-. The Said Return Was Processed U/S 143(1) Of The Act. Subsequently, The Cit-Ii, New Delhi, Vide His Letter No. File 148/2012-13/2817 Dated 15Th March, 2013, Forwarded The Letter Of Investigation Ii, Delhi, Vide F. No.Dit (Inv.)-Ii/U/S 148/2012-13/197 Dated 12Th March, 2013 Giving Information About An Accommodation Entry Of Rs.40 Lakhs Received By The Assessee From M/S Victory Software Pvt. Ltd., Zenith Automotive Pvt. Ltd. & Humtum Marketing Pvt. Ltd. Based On The Above, The Ao Issued Notice U/S 148 After Recording The Reasons.

held the order as erroneous and prejudicial to the interest of the Revenue. According to the AO, the enquiries of the Investigation Wing, Delhi have unearthed huge accommodation entry racket being operated by accommodation entry operator Jain brothers by way of more than 100 companies/firms, etc. The Investigation Wing ... reasons recorded for issue of notice u/s 148 wherein the AO has reopened the assessment on the basis of the information obtained from the Investigation Wing which was forwarded by the CIT-II, New Delhi according to which the assessee has accepted accommodation entry of Rs.40 lakhs from companies controlled

Sungrow Impex Private Limited, New Delhi vs. ITO Ward-24(3), New Delhi

In the result appeal of assessee allowed

Bench: Shri Bhavnesh Saini & Shri N.K. Billaiya

147/148 of Income-tax Act, 1961. 6. Since more than 4 years of the relevant years have passed and the information received from the investigation wing is that transactions are in the nature of accommodation entries, are non disclosure of material facts pertaining to such transactions which has not been ... statement and found that actual amount deposited was of Rs. 30,74,006/-. The AO without applying his mind to the information received from Investigation Wing recorded wrong and incorrect facts in the reasons for reopening of the 22 ITA.No.4183/Del./2019 M/s. Sungrow Impex Private Limited, New Delhi. assessment

Savita Holdings Pvt. Ltd., Delhi vs. ITO, Ward- 22(4), New Delhi

Bench: Shri Bhavnesh Saini & Shri B.R.R Kumar

Jain group of cases (entry operator) the details of accommodation entry amount received as beneficiary is given as under as provided by investigation wing: S.No. Beneficiaries Name of the Amount Total Amount Entry Provider 1. M/s Savita Holding Sh. Surendra 50,00,000/- 50,00,000/- P. Ltd. Kumar Jain ... Income Tax Act.” 6. Ld. Counsel for assessee submitted that the conclusion of the AO is the conclusion drawn by the Investigation Wing. But the AO in absence of any application of mind to the relevant information was in no position to reach a belief himself that the income

Raman Sood, New Delhi vs. ITO Ward-28(4), New Delhi

The appeal of the assessee stands allowed

concurrent findings of both the Lower Authorities and submitted that the Department had acted on the basis of information received from the Investigation Wing regarding the assessee being one of the parties benefiting from accommodation entries relating to bogus purchases and, therefore, the reopening was within the four corners ... have also perused the material on record. It is undisputed that the re- assessment proceedings were initiated on receipt of certain information from the Investigation Wing of the Department that the assessee was beneficiary of certain accommodation entries pertaining to bogus purchases. The Assessing Officer has reproduced the table containing

Space Chem Engineers Private Limited, Ghaziabad vs. ITO Ward-2(3), Ghaziabad

In the result the appeal filed by the assessee is allowed

Bench: Shri R.K. Pandaasstt. Year 2008-09

aware of the facts being used against it there is no need for giving opportunities to cross examine. Moreover, if AO received information from Investigation Wing for issue of notice u/s 147, AO is to discharge his official duty by taking action u/s 147. Reliance is placed in this regard ... enquiries and hence the same is beyond jurisdiction. 4. Because, Id. CIT (Appeals) is grossly wrong in holding that, if AO received information from investigation wing for issue of notice u/s 147, AO is discharge his official duty by taking action u/s 147, and hence wrongly justified issuance of notice

Karan Khurana, Delhi vs. ITO, Ward- 48(2), New Delhi

In the result, the appeal of assessee is allowed

Bench: Shri Bhavnesh Saini & Shri B.R.R Kumar

that the reopening of assessment u/s 147 of the Act, was valid." 5. The live link between the material provided by the investigation Wing and the reasons for belief that income has escaped assessment has been sufficiently demonstrated. Since, no assessment has been completed ... report was of the view that the assessee was in possession 15 ITA.No.1783/Del./2019 Shri Karan Khurana, Delhi. of the information of the investigation wing and, therefore, it was apparent that the assessee was aware of the reasons recorded. Ld. Counsel for assessee, therefore, submitted that AO has never

M/S. Classic Real Estate Developers Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, both the appeals filed by the assessee are allowed

Bench: Shri R.K. Panda & Ms Suchitra Kamble

Telecom Ltd and in M/s DD Resorts Pvt. Ltd. The issue of introduction of share capital through Kolkata based companies was referred to the Investigation Wing, Kolkata in the case of M/s Vikas Telecom Ltd. and M/s DD Resorts Pvt. Ltd. in which the share application money was received from ... para 5 of the order has primarily made addition u/s 68 of the Act after referring to the enquiries conducted by the Investigation Wing at Kolkata in the cases of group entities M/s Vikas Telecom Ltd and in M/s DD Resorts Pvt. Ltd. He submitted that similar additions of Rs.3