← 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

Dy. CIT -1(1), Indore vs. M/S. Agrawal Transport Corporation (P) Ltd., Indore

ITA 651/IND/2019[2010-11]Status: DisposedITAT Indore14 Oct 2020AY 2010-11

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2010-11

Section 143(3)Section 147Section 153C

appreciating and not accepting the contention of the assessee that the impugned reopening proceedings initiated merely on the basis of information received from the Investigation Wing in this case was on borrowed satisfaction, which is wrong and bad in law. 4.The Learned CITCA) erred in not accepting the contention ... reassessment proceedings primarily raising the contention that, since the same were initiated on the basis of the information/ report received from the investigation wing, Indore after the search was carried out on one Shri Deepak Kalani on Agrawal Transport Corporation (P) Ltd & Ors ITA Nos. 651, C.O.No.35/Ind/2019, 331/Ind/2018 & 895/Ind/2019

M/S Ad-Manum Finance Ltd., Indore vs. Thedcit 1(1), Indore

ITA 331/IND/2018[2009-10]Status: DisposedITAT Indore14 Oct 2020AY 2009-10

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2010-11

Section 143(3)Section 147Section 153C

appreciating and not accepting the contention of the assessee that the impugned reopening proceedings initiated merely on the basis of information received from the Investigation Wing in this case was on borrowed satisfaction, which is wrong and bad in law. 4.The Learned CITCA) erred in not accepting the contention ... reassessment proceedings primarily raising the contention that, since the same were initiated on the basis of the information/ report received from the investigation wing, Indore after the search was carried out on one Shri Deepak Kalani on Agrawal Transport Corporation (P) Ltd & Ors ITA Nos. 651, C.O.No.35/Ind/2019, 331/Ind/2018 & 895/Ind/2019

Vrc Township P Ltd., Delhi vs. ITO, New Delhi

In the result, appeal of the Assessee allowed

ITA 1503/DEL/2017[2007-08]Status: DisposedITAT Delhi14 Oct 2020AY 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: Shri Suresh K. Gupta, C.AFor Respondent: Ms. Shalini Verma, Sr. D.R
Section 143(1)Section 147Section 148Section 151Section 68

response to notice under section 148 of the I.T. Act, 1961. The A.O. noted in the present case that information was received from Investigation Wing that assessee has taken accommodation entries totaling to Rs.80 lakhs from the companies floated by Shri Tarun Goyal. The A.O. after examining the issue ... have also considered the various decisions cited before us. We find, the AO, in the instant case, based on the report of the Investigation Wing that the assessee has received accommodation entries from Shri Surendra Kumar Jain and Virendra Kumar Jain controlled/managed companies, reopened the assessment by recording the following

The ITO, Sendhwa vs. Shri Dwarka Prasad Tayal, Sendhwa

In the result appeal of the assessee ITA No

ITA 334/IND/2018[11-12]Status: DisposedITAT Indore13 Oct 2020

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2011-12

Section 142(1)(ii)Section 143(1)Section 143(2)Section 143(3)Section 80C

appellant assessee offered additional income to the tune of Rs 27,32,000/- [1.33% of Rs 20,53,98,366/-] before the Investigation wing on the total unrecorded turnover of Rs 20,53,98,366/- as executed through the above bank accounts. That disclosed/undisclosed turnover as executed through

Shri Dwarka Prasad Tayal, Sendhwa vs. The ITO, Khargon

In the result appeal of the assessee ITA No

ITA 284/IND/2018[2011-12]Status: DisposedITAT Indore13 Oct 2020AY 2011-12

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2011-12

Section 142(1)(ii)Section 143(1)Section 143(2)Section 143(3)Section 80C

appellant assessee offered additional income to the tune of Rs 27,32,000/- [1.33% of Rs 20,53,98,366/-] before the Investigation wing on the total unrecorded turnover of Rs 20,53,98,366/- as executed through the above bank accounts. That disclosed/undisclosed turnover as executed through

Deputy Commissioner of Income Tax 4(3)-1, Mumbai vs. Perfect Filaments Ltd, Mumbai

ITA 5162/MUM/2017[2012-13]Status: DisposedITAT Mumbai12 Oct 2020AY 2012-13

Bench: Shri M Balaganesh & Shri Pavan Kumar Gadaledy. Cit 4(3)-1 Perfect Filaments Ltd., बनाम/ Room No. 649, 6Th Floor, E-23/24/26, Commerce Vs. Centre, 5Th Floor, Tardeo Aayakar Bhavan, Mumbai. - 400020 Road, Mumbai – 400034. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacp4215F .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Appellant: Shri Amit Pratap Singh, DRFor Respondent: Shri Vimal Punmiya, C.A. AR
Section 133(6)Section 143(2)Section 143(3)Section 68

issued. The A.O on perusal of the records, found that the information was received from the office of Investigation Wing, Mumbai that the assessee has availed the benefit of accommodation entries of bogus share capital from companies related to Praveen Kumar Jain.The assessee company has submitted the details of three

Ketval Gems, Mumbai vs. ITO 21(2)(1), Mumbai

In the result, assessee’s appeals are allowed

ITA 1999/MUM/2019[2010-11]Status: DisposedITAT Mumbai08 Oct 2020AY 2010-11

Bench: The Itat. I Have Heard Learned Departmental Representative & Perused The Records.

Section 263

common order dated 20.2.2019 pertaining to the concerned assessment year. 2. Brief facts of the case are that pursuant to information from the investigation wing that assessee has engaged into bogus purchases as under :- Assessment year Amount

Hrushikesh Mohapatra, Nayagarh vs. ITO, Khurda Ward, Khurda

In the result, appeal of the assessee is allowed for statistical

ITA 108/CTK/2019[2011-12]Status: DisposedITAT Cuttack07 Oct 2020AY 2011-12

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2011-12

For Appellant: Shri S.K.Agarwal, CAFor Respondent: Shri Subhendu Dutta, DR
Section 263Section 44ASection 69

cash deposits as undisclosed turnover and estimated the profit at 8% of Rs.51,49,900/- u/s.44AD of the Act. However, subsequently, before the Investigation Wing, the assessee had stated that the bank account was used by one labour contractor and the persons migrating from villages in Nayagarh used to deposit ... contention of the ld D.R. that the burden to prove the source and credibility of deposits and statement of the assessee before the Investigation Wing was on the assessee but opportunity to discharge this burden has to be given to the assessee by the AO. Therefore, in the totality

Assistant Commissioner of Income Tax 15(2)(1), Mumbai vs. M/S.N.Jp Trading Company, Mumbai

In the result, the appeal filed by the revenue stands dismissed with no order as to cost

ITA 6040/MUM/2017[2008-09]Status: DisposedITAT Mumbai07 Oct 2020AY 2008-09

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2008-09 Acit 15(2)(1), M/S. N.J.P Trading Room No.357, Company, 3Rd Floor, B-12, 2N Floor, Aayakar Bhavan, Vs. Navin Manjau, M.K. Road, S.L. Road, Mumbai - 400020 Mulund (West), Mumbai – 400 080 Pan: Aaccn2258A (Appellant) (Respondent) Present For: Assessee By : Shri Mari Jain, A.R. Revenue By : Ms. Kavita P. Kaushik, D.R. Date Of Hearing : 24.09.2020 Date Of Pronouncement : 07.10.2020 O R D E R Per Rajesh Kumar: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 12.06.2017 Of The Commissioner Of Income Tax (Appeals) [Hereinafter Referred To As The Cit(A)] Relevant To Assessment Year 2008-09. 2. The Only Effective Issue Raised By The Revenue In The Various Grounds Of Appeal Is Against The Deletion Of Addition Of Rs.1,80,00,000/- By Ld. Cit(A) As Made By The Ao Under Section 68 Of The Act.

For Appellant: Shri Mari Jain, A.RFor Respondent: Ms. Kavita P. Kaushik, D.R
Section 132Section 133(6)Section 143(1)Section 143(3)Section 147Section 148Section 68

light after a search and seizure action under section 132 of the Act on Shri Praveen Kumar Jain and his associate concerns by the investigation wing. The details of loans taken as accommodation entries from five companies as mentioned in para 6.2 of the assessment order from whom an aggregate

Pankaj Malhotra, New Delhi vs. ITO, Ward-70(3), New Delhi

In the result, the appeal of the assessee is allowed

ITA 6846/DEL/2017[2008-09]Status: DisposedITAT Delhi07 Oct 2020AY 2008-09

Bench: Sh. H.S. Sidhu & Sh. Anil Chaturvedi(Through Video Conferencing)

Section 143(1)Section 147Section 148Section 151Section 153CSection 69

return of income was initially processed u/s 143(1) of the Act. Subsequently, on the basis of information received by the AO from the Investigation Wing w.r.t cash payments for the purchase / booking of the property, the details of which according to the AO were not disclosed by the assessee

Mr. Parag Gupta, New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 410/DEL/2017[2014-15]Status: DisposedITAT Delhi07 Oct 2020AY 2014-15

Bench: Sh. H.S. Sidhu & Sh. Anil Chaturvedi(Through Video Conferencing)

Section 132

found acceptable to the AO. AO was of the view that the CBDT instructions relied by the assessee was not applicable as the Investigation Wing had not seized the entire jewellary that was found. AO also noted that the assessee had not furnished the copy of Wealth Tax Return

Assistant Commissioner of Income Tax-17(3), Mumbai vs. Saif Marine, Mumbai

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

ITA 4997/MUM/2017[2007-08]Status: DisposedITAT Mumbai06 Oct 2020AY 2007-08

Bench: Shri Justice P P Bhatt & Shri M. Balaganesh, Am & Acit 17(3) Vs. M/S. Saif Marine Room No.137, 1St Floor 220, 2Nd Floor, Aayakar Bhavan Vyapar Bhavan M.K.Marg, 49, P.D.Mello Road Mumbai – 400 020 Masjid Bunder Mumbai – 400 009 Pan/Gir No.Aapfs3198E (Appellant) .. (Respondent)

Section 143(3)Section 148

Enterprises 23,27,485/- Total 1,64,86,544/- 3.1. This information was passed on by the Sales Tax department to the Income Tax Investigation Wing based on which the assessment of the assessee was sought to be reopened. By issuance of notice u/s.148 of the Act, the assessee filed

ACIT, Central Circle-19, New Delhi vs. Mamta Agarwal, New Delhi

In the result, all the Departmental Appeals and Cross Objections of the Assessee and Appeal of assessee in the case of Shri Gopal Agarwal in ITA

ITA 6185/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Oct 2020AY 2010-11

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

facts of the case are that a search and seizure operation under section 132(1) of the I.T. Act was conducted by the Investigation Wing of the Department on 08.07.2015 in the case of K.R. Pulp and Papers Ltd., Group of cases and the case of assessee was also covered ... addition made by AO and submissions of appellant. As it is reflected from assessment order, a search and seizure operation was conducted by the Investigation Wing of the Department in the cases of M/s K. R. Pulp and Papers Ltd. Group and during the searches, the appellant's case

ACIT, Central Circle- 19, New Delhi vs. Sabhyata Agarwal, New Delhi

In the result, all the Departmental Appeals and Cross Objections of the Assessee and Appeal of assessee in the case of Shri Gopal Agarwal in ITA

ITA 6183/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Oct 2020AY 2010-11

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

facts of the case are that a search and seizure operation under section 132(1) of the I.T. Act was conducted by the Investigation Wing of the Department on 08.07.2015 in the case of K.R. Pulp and Papers Ltd., Group of cases and the case of assessee was also covered ... addition made by AO and submissions of appellant. As it is reflected from assessment order, a search and seizure operation was conducted by the Investigation Wing of the Department in the cases of M/s K. R. Pulp and Papers Ltd. Group and during the searches, the appellant's case

ACIT, Central Circle- 19, New Delhi vs. Madhusudan Packaging LLP, Delhi

In the result, all the Departmental Appeals and Cross Objections of the Assessee and Appeal of assessee in the case of Shri Gopal Agarwal in ITA

ITA 6182/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Oct 2020AY 2011-12

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

facts of the case are that a search and seizure operation under section 132(1) of the I.T. Act was conducted by the Investigation Wing of the Department on 08.07.2015 in the case of K.R. Pulp and Papers Ltd., Group of cases and the case of assessee was also covered ... addition made by AO and submissions of appellant. As it is reflected from assessment order, a search and seizure operation was conducted by the Investigation Wing of the Department in the cases of M/s K. R. Pulp and Papers Ltd. Group and during the searches, the appellant's case

ACIT, Central Circle- 19, New Delhi vs. Suman Agarwal, New Delhi

In the result, all the Departmental Appeals and Cross Objections of the Assessee and Appeal of assessee in the case of Shri Gopal Agarwal in ITA

ITA 6181/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Oct 2020AY 2010-11

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

facts of the case are that a search and seizure operation under section 132(1) of the I.T. Act was conducted by the Investigation Wing of the Department on 08.07.2015 in the case of K.R. Pulp and Papers Ltd., Group of cases and the case of assessee was also covered ... addition made by AO and submissions of appellant. As it is reflected from assessment order, a search and seizure operation was conducted by the Investigation Wing of the Department in the cases of M/s K. R. Pulp and Papers Ltd. Group and during the searches, the appellant's case

ACIT, Central Circle- 19, New Delhi vs. Kms Associates LLP (Erstwhile M/S. Kms Associates Pvt. Ltd.), New Delhi

In the result, all the Departmental Appeals and Cross Objections of the Assessee and Appeal of assessee in the case of Shri Gopal Agarwal in ITA

ITA 6179/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Oct 2020AY 2011-12

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

facts of the case are that a search and seizure operation under section 132(1) of the I.T. Act was conducted by the Investigation Wing of the Department on 08.07.2015 in the case of K.R. Pulp and Papers Ltd., Group of cases and the case of assessee was also covered ... addition made by AO and submissions of appellant. As it is reflected from assessment order, a search and seizure operation was conducted by the Investigation Wing of the Department in the cases of M/s K. R. Pulp and Papers Ltd. Group and during the searches, the appellant's case

ACIT, Central Circle- 19, New Delhi vs. Kavita Agarwal, New Delhi

In the result, all the Departmental Appeals and Cross Objections of the Assessee and Appeal of assessee in the case of Shri Gopal Agarwal in ITA

ITA 6178/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Oct 2020AY 2010-11

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

facts of the case are that a search and seizure operation under section 132(1) of the I.T. Act was conducted by the Investigation Wing of the Department on 08.07.2015 in the case of K.R. Pulp and Papers Ltd., Group of cases and the case of assessee was also covered ... addition made by AO and submissions of appellant. As it is reflected from assessment order, a search and seizure operation was conducted by the Investigation Wing of the Department in the cases of M/s K. R. Pulp and Papers Ltd. Group and during the searches, the appellant's case

ACIT, Central Circle- 19, New Delhi vs. Murli Agritech LLP (Erstwhile M/S. Murli Agritech Pvt. Ltd.), Delhi

In the result, all the Departmental Appeals and Cross Objections of the Assessee and Appeal of assessee in the case of Shri Gopal Agarwal in ITA

ITA 6175/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Oct 2020AY 2011-12

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

facts of the case are that a search and seizure operation under section 132(1) of the I.T. Act was conducted by the Investigation Wing of the Department on 08.07.2015 in the case of K.R. Pulp and Papers Ltd., Group of cases and the case of assessee was also covered ... addition made by AO and submissions of appellant. As it is reflected from assessment order, a search and seizure operation was conducted by the Investigation Wing of the Department in the cases of M/s K. R. Pulp and Papers Ltd. Group and during the searches, the appellant's case

ACIT, Central Circle- 19, New Delhi vs. Rgs Printers Ltd. (Erstwhile M/S. Rgs Printers Pvt. Ltd.), Delhi

In the result, all the Departmental Appeals and Cross Objections of the Assessee and Appeal of assessee in the case of Shri Gopal Agarwal in ITA

ITA 6174/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Oct 2020AY 2011-12

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

facts of the case are that a search and seizure operation under section 132(1) of the I.T. Act was conducted by the Investigation Wing of the Department on 08.07.2015 in the case of K.R. Pulp and Papers Ltd., Group of cases and the case of assessee was also covered ... addition made by AO and submissions of appellant. As it is reflected from assessment order, a search and seizure operation was conducted by the Investigation Wing of the Department in the cases of M/s K. R. Pulp and Papers Ltd. Group and during the searches, the appellant's case