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“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

Pankaj Kanwarlal Jain HUF, Surat vs. Income Tax Officer, Ward-2(3)(8), Surat

In the result, appeal of Assessee allowed

ITA 269/SRT/2017[2013-14]Status: DisposedITAT Surat27 Aug 2019AY 2013-14

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

For Appellant: Shri Rasesh Shah, C.AFor Respondent: Shri O.P. Singh, CIT-D.R
Section 132(4)

Bhanwarlal Jain Group. The A.O. was is in possession of information that a search and seizure action has been carried out by the Investigation Wing, Mumbai on the Bhanwarlal Jain Group which was indulged in providing of accommodation entries in the form of unsecured loans, bogus purchases / sales ... have been recorded at the back of the assessee at Mumbai 9 ITA.No.269/SRT/2017 Shri Pankaj Kanwarlal Jain HUF, Prop. Mahak Diamond, Surat. by Investigation Wing. The documents furnished by the assessee have not been doubted. The assessee, therefore, submitted that since assessee produced all the documentary evidences which have

Vimalchand Jain, Rajasthan vs. ITO. Ward-3(3)(5), Surat

In the result, the appeal of assessee is allowed

ITA 1460/AHD/2017[2007-08]Status: DisposedITAT Surat27 Aug 2019AY 2007-08

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

Section 143(3)Section 147Section 148

filed originally may be treated as return having been filed in response to notice u/s 148 of the Act. The AO considering report of Investigation Wing and other material found the assessee being proprietorship of M/s Gem Art, Surat has taken accommodation entry from AVI Exports ... Ward 9(4), Surat A.Y. : 2007-08 Reasons for the belief that income has escaped assessment: Search action was carried out by the Investigation wing, Mumbai on various groups which are involved in providing accommodation entries by way of issuing non genuine bills. On examination of the above information

Vickey Venilal Shah, Mumbai vs. Income Tax Officer 13(3)(1), Mumbai

In the result this appeal filed by the assessee stands dismissed

ITA 2599/MUM/2018[2014-15]Status: DisposedITAT Mumbai27 Aug 2019AY 2014-15

Bench: Shri Shamim Yahya (Am)

Section 10Section 10(38)Section 68

Vicky Venilal Shah long term capital gain of Rs.29,37,528/-, which is 1006 times the increase of the cost price. c. Findings of Investigation wing: The findings of the Directorate of Investigation of Mumbai and Kolkata, entry operators and the assessee had worked out an arrangement in which ... violation of SEBl regulations by the broker. However, in the instant case, the main basis of scrutiny assessment was report obtained from Kolkata Investigation Wing, which carried out a Search operation and seized many incriminating documents. Further, the operators and the key personnel of the paper companies admitted their involvement

Narangs International Hotels P.Ltd, Mumbai vs. DCIT RG 1(2), Mumbai

In the result, assessee appeal in ITA no

ITA 1383/MUM/2013[1994-95]Status: DisposedITAT Mumbai27 Aug 2019AY 1994-95

Bench: Shri Shamim Yahya (Am) & Shri Sandeep Gosain (Jm)

authorized signatory and also Director of M/s Patheja Forgings. A survey u/s 133A had been carried out on 18.10.95 through the investigation wing at Pune in the case of M/s Pathena Forgings. It was found at the time of survey that there were only about 59000 Bins available ... Kedia Distilleries Ltd. by an agreement of the same date; (c) Both M/s KDL and M/s KCDIL have submitted written confessions to the Investigation Wing of the Department stating that they had entered into and had arranged various fictitious lease transactions in order to obtain working capital. The relevant transaction

Smt. Sharmila Maheshwari, Panchkula vs. ACIT, Circle, Panchkula

In the result, both the appeals of the assessees are allowed for statistical purposes

ITA 160/CHANDI/2019[2015-16]Status: DisposedITAT Chandigarh26 Aug 2019AY 2015-16
For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Shri Manjit Singh, CIT DR

Income from other sources' and not as long term capital gain or business income subsequent to survey being conducted on its premises by the Investigation Wing, Chandigarh. The SEBI vide its order WMT/RKA/ISD/54/2015 dated 29.06.2015 in respect of M/s HPC Bio Sciences Ltd., M/s Alps Motor Finance

Smt. Shashi Maheshwari, Panchkula vs. ACIT, Circle, Panchkula

In the result, both the appeals of the assessees are allowed for statistical purposes

ITA 159/CHANDI/2019[2015-16]Status: DisposedITAT Chandigarh26 Aug 2019AY 2015-16
For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Shri Manjit Singh, CIT DR

Income from other sources' and not as long term capital gain or business income subsequent to survey being conducted on its premises by the Investigation Wing, Chandigarh. The SEBI vide its order WMT/RKA/ISD/54/2015 dated 29.06.2015 in respect of M/s HPC Bio Sciences Ltd., M/s Alps Motor Finance

Sangitha Garg, Chennai vs. ACIT Non Corporate Circle 23(1), Chennai

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1485/CHNY/2019[2015-16]Status: DisposedITAT Chennai26 Aug 2019AY 2015-16

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.1485/Chny/2019 "नधा"रण वष" /Assessment Year : 2015-16 & S.P. No.239/Chny/2019 (In I.T.A. No.1485/Chny/2019) "नधा"रण वष" /Assessment Year : 2015-16

For Appellant: Shri T. Vasudevan, AdvocateFor Respondent: Shri Sridhar Dora, JCIT
Section 10(38)

assessee involved in inflating the shares of the company. Moreover, the copy of the investigation report said to be received from the Investigation Wing of the Department at Kolkata was not furnished to the assessee. On identical circumstances, this Tribunal in the case of Kanhaiyalal & Sons ... Representative also. Admittedly, the Assessing Officer disallowed the claim of the assessees on the basis of the information said to be received from the Investigation Wing of the Department at Kolkata with regard to investment made 4 I.T.A. No.1485/Chny/19 S.P. No.239/Chny/19 by the assessees in the penny stock company

Smt. Shweta Jain, Ludhiana vs. DCIT, CC-1, Ludhiana

In the result, all the above appeals of different assessees are partly allowed for statistical purposes

ITA 919/CHANDI/2018[2016-17]Status: DisposedITAT Chandigarh23 Aug 2019AY 2016-17
For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Manjit Singh, CIT DR
Section 250(6)Section 271ASection 274

factual position with the books of accounts and projections and bring the evidence to unearth the undisclosed income. Neither the A.O. nor the investigation wing linked the cost of profit or cost of asset to the entries in the books of accounts or to the sales conducted by the assessee ... return of income. The AO levied penalty u/s 271AAB on such additional income offered to tax. The Tribunal noted that neither the Investigation Wing in the post search nor during the course of assessment proceedings, the Assessing Officer found any incriminating evidence of undisclosed income otherwise the declaration

Smt. Vani Jain, Ludhiana vs. DCIT, CC-1, Ludhiana

In the result, all the above appeals of different assessees are partly allowed for statistical purposes

ITA 917/CHANDI/2018[2016-17]Status: DisposedITAT Chandigarh23 Aug 2019AY 2016-17
For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Manjit Singh, CIT DR
Section 250(6)Section 271ASection 274

factual position with the books of accounts and projections and bring the evidence to unearth the undisclosed income. Neither the A.O. nor the investigation wing linked the cost of profit or cost of asset to the entries in the books of accounts or to the sales conducted by the assessee ... return of income. The AO levied penalty u/s 271AAB on such additional income offered to tax. The Tribunal noted that neither the Investigation Wing in the post search nor during the course of assessment proceedings, the Assessing Officer found any incriminating evidence of undisclosed income otherwise the declaration

M/S Maharaja Light & Tent Services, Ludhiana vs. DCIT, CC-1, Ludhiana

In the result, all the above appeals of different assessees are partly allowed for statistical purposes

ITA 915/CHANDI/2018[2016-17]Status: DisposedITAT Chandigarh23 Aug 2019AY 2016-17
For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Manjit Singh, CIT DR
Section 250(6)Section 271ASection 274

factual position with the books of accounts and projections and bring the evidence to unearth the undisclosed income. Neither the A.O. nor the investigation wing linked the cost of profit or cost of asset to the entries in the books of accounts or to the sales conducted by the assessee ... return of income. The AO levied penalty u/s 271AAB on such additional income offered to tax. The Tribunal noted that neither the Investigation Wing in the post search nor during the course of assessment proceedings, the Assessing Officer found any incriminating evidence of undisclosed income otherwise the declaration

Arihant Constructions, Visakhapatnam vs. The Assistant Commissioner of Income Tax, Circle-4(1), Visakhapatnam

In the result, appeals of the assessee for the A

ITA 324/VIZ/2019[2014-15]Status: DisposedITAT Visakhapatnam23 Aug 2019AY 2014-15

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.321-325/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12 To 2015-16) M/S Arihant Constructions Vs. Asst.Commissioner Of Income Tax M/S B.V.Rao & Co Llp Circle-4(1) Chartered Accountants Visakhapatnam Ff-1, Satya Lakshmi Vinayaka Towers, Madhuranagar Visakhapatnam [Pan : Aarfa0600P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri B.V.Rao, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.V.Subba Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 05.08.2019 घोर्णध की तधरीख/Date Of Pronouncement : 23 .08.2019

For Appellant: Shri B.V.Rao, ARFor Respondent: Shri D.V.Subba Rao, DR
Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

A.Y.2011-12 to 2015-16 M/s Arihant Constructions, Visakhapatnam initiation of reassessment proceedings u/s. 147 of the Act on the basis of information received from Investigation Wing that the assessee had received certain amount as a loan from a company, working as Entry Operator and earning bogus funds to provide advances ... relevant portion of the decision is reproduced below for ready reference: The reasons recorded show that the Assessing Officer had received information from the investigating Wing in connection with advances received by the ssessee from EWFIL. Upon verification, it was found that the said EWFIL was an entry operator

Arihant Constructions, Visakhapatnam vs. The Assistant Commissioner of Income Tax, Circle-4(1), Visakhapatnam

In the result, appeals of the assessee for the A

ITA 323/VIZ/2019[2013-14]Status: DisposedITAT Visakhapatnam23 Aug 2019AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.321-325/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12 To 2015-16) M/S Arihant Constructions Vs. Asst.Commissioner Of Income Tax M/S B.V.Rao & Co Llp Circle-4(1) Chartered Accountants Visakhapatnam Ff-1, Satya Lakshmi Vinayaka Towers, Madhuranagar Visakhapatnam [Pan : Aarfa0600P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri B.V.Rao, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.V.Subba Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 05.08.2019 घोर्णध की तधरीख/Date Of Pronouncement : 23 .08.2019

For Appellant: Shri B.V.Rao, ARFor Respondent: Shri D.V.Subba Rao, DR
Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

A.Y.2011-12 to 2015-16 M/s Arihant Constructions, Visakhapatnam initiation of reassessment proceedings u/s. 147 of the Act on the basis of information received from Investigation Wing that the assessee had received certain amount as a loan from a company, working as Entry Operator and earning bogus funds to provide advances ... relevant portion of the decision is reproduced below for ready reference: The reasons recorded show that the Assessing Officer had received information from the investigating Wing in connection with advances received by the ssessee from EWFIL. Upon verification, it was found that the said EWFIL was an entry operator

Arihant Constructions, Visakhapatnam vs. The Assistant Commissioner of Income Tax, Circle-4(1), Visakhapatnam

In the result, appeals of the assessee for the A

ITA 322/VIZ/2019[2012-13]Status: DisposedITAT Visakhapatnam23 Aug 2019AY 2012-13

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.321-325/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12 To 2015-16) M/S Arihant Constructions Vs. Asst.Commissioner Of Income Tax M/S B.V.Rao & Co Llp Circle-4(1) Chartered Accountants Visakhapatnam Ff-1, Satya Lakshmi Vinayaka Towers, Madhuranagar Visakhapatnam [Pan : Aarfa0600P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri B.V.Rao, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.V.Subba Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 05.08.2019 घोर्णध की तधरीख/Date Of Pronouncement : 23 .08.2019

For Appellant: Shri B.V.Rao, ARFor Respondent: Shri D.V.Subba Rao, DR
Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

A.Y.2011-12 to 2015-16 M/s Arihant Constructions, Visakhapatnam initiation of reassessment proceedings u/s. 147 of the Act on the basis of information received from Investigation Wing that the assessee had received certain amount as a loan from a company, working as Entry Operator and earning bogus funds to provide advances ... relevant portion of the decision is reproduced below for ready reference: The reasons recorded show that the Assessing Officer had received information from the investigating Wing in connection with advances received by the ssessee from EWFIL. Upon verification, it was found that the said EWFIL was an entry operator

Arihant Constructions, Visakhapatnam vs. The Assistant Commissioner of Income Tax, Circle-4(1), Visakhapatnam

In the result, appeals of the assessee for the A

ITA 321/VIZ/2019[2011-12]Status: DisposedITAT Visakhapatnam23 Aug 2019AY 2011-12

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.321-325/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12 To 2015-16) M/S Arihant Constructions Vs. Asst.Commissioner Of Income Tax M/S B.V.Rao & Co Llp Circle-4(1) Chartered Accountants Visakhapatnam Ff-1, Satya Lakshmi Vinayaka Towers, Madhuranagar Visakhapatnam [Pan : Aarfa0600P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri B.V.Rao, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.V.Subba Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 05.08.2019 घोर्णध की तधरीख/Date Of Pronouncement : 23 .08.2019

For Appellant: Shri B.V.Rao, ARFor Respondent: Shri D.V.Subba Rao, DR
Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

A.Y.2011-12 to 2015-16 M/s Arihant Constructions, Visakhapatnam initiation of reassessment proceedings u/s. 147 of the Act on the basis of information received from Investigation Wing that the assessee had received certain amount as a loan from a company, working as Entry Operator and earning bogus funds to provide advances ... relevant portion of the decision is reproduced below for ready reference: The reasons recorded show that the Assessing Officer had received information from the investigating Wing in connection with advances received by the ssessee from EWFIL. Upon verification, it was found that the said EWFIL was an entry operator

Brijbasi Education and Welfarew Society, Mathura vs. Addl.CIT, Range-1, Ghaziabad

In the result ITA number 4573/del/2017 filed by the assessee for assessment year 2007 – 08 is dismissed

ITA 4572/DEL/2017[2006-07]Status: DisposedITAT Delhi23 Aug 2019AY 2006-07

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri Soumitra Choudhary, AdvFor Respondent: Shri Arun Kumar Yadav, Sr. DR
Section 12Section 143Section 148Section 161Section 68Section 80

paper book. 10. The learned departmental representative vehemently supported the order of the learned CIT – A and submitted that information was received from the investigation wing as well as the central bureau of investigation which categorically stated that there are credit entries in the books of accounts of the assessee ... assessee in the original assessment proceedings are found to be false. Further, the AO has also mentioned the details of the report of the investigation wing as well as the information received from the central bureau of investigation. In view of this, reliance placed on the decision of the honourable

M/S Radico Khaitan Ltd., Delhi vs. DCIT, New Delhi

In the result, the assessee appeal for AYs 2008-09, 2009-

ITA 6773/DEL/2015[2008-09]Status: DisposedITAT Delhi23 Aug 2019AY 2008-09
For Appellant: Sh. Ajay Vohra, Sr. Adv, Sh. GauravFor Respondent: Smt. Sulekha Verma, CIT DR
Section 132Section 132(4)Section 142(1)Section 153Section 153ASection 250

stock of empty bottles. There was survey operation u/s 133A on the bottling plant of M/s N.V. Distilleries & Breweries Ltd., on 15.2.2011 whereas investigation wing found 1,90,780 number of empty bottles of different brands i.e. 8 PM, Magic Moment, Contessa RUM of Radico Group were found short physically

M/S Radico Khaitan Ltd., Delhi vs. DCIT, New Delhi

In the result, the assessee appeal for AYs 2008-09, 2009-

ITA 4358/DEL/2015[2011-12]Status: DisposedITAT Delhi23 Aug 2019AY 2011-12
For Appellant: Sh. Ajay Vohra, Sr. Adv, Sh. GauravFor Respondent: Smt. Sulekha Verma, CIT DR
Section 132Section 132(4)Section 142(1)Section 153Section 153ASection 250

stock of empty bottles. There was survey operation u/s 133A on the bottling plant of M/s N.V. Distilleries & Breweries Ltd., on 15.2.2011 whereas investigation wing found 1,90,780 number of empty bottles of different brands i.e. 8 PM, Magic Moment, Contessa RUM of Radico Group were found short physically

Deputy Commissioner of Income Tax-1, Kanpur vs. Smt. Shehla Ahmed, Kanpur

In the result, the appeal of the Revenue and the cross objection of the assessee are dismissed

ITA 181/LKW/2018[2013-14]Status: DisposedITAT Lucknow22 Aug 2019AY 2013-14

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2013-14 Dy. Cit-1 V. Smt. Shehla Ahmad Kanpur 376-C, Allied Street Jajmau, Kanpur Tan/Pan:Aexpa4122N (Appellant) (Respondent) C.O. No.09/Lkw/2018 [In Ita No.181/Lkw/2018] Assessment Year: 2013-14 Smt. Shehla Ahmad V. Dy. Cit-1 376-C, Allied Street Kanpur Jajmau, Kanpur Tan/Pan:Aexpa4122N (Cross-Objector) (Respondent) Department By: Shri R. K. Vishvakarma, D.R. Assessee By: Shri Swarn Singh, Fca Date Of Hearing: 24 07 2019 Date Of Pronouncement: 22 08 2019 O R D E R Per A. D. Jain, V.P.: This Is Revenue’S Appeal & Assessee’S Cross Objection Against The Order Of The Ld. Cit(A)-Ii, Kanpur, Dated 1/12/2017, For The Assessment Year 2013-14. 2. The Revenue Has Taken The Following Grounds Of Appeal: 1. The Ld. Commissioner Of Income Tax (Appeals)-Ii, Kanpur Has Erred In Law & On Facts In Deleting The Penalty Of Rs.22,00,000/- Imposed By The Assessing Officer On Account Of Undisclosed

For Appellant: Shri Swarn Singh, FCAFor Respondent: Shri R. K. Vishvakarma, D.R
Section 10(38)Section 139(1)Section 143(3)Section 271(1)(c)Section 274Section 40a

claim made by the appellant. The said addition was however made by the AO on the basis of certain investigation done by Investigation Wing. Appellant has raised some very pertinent questions challenging the investigation done that is relied upon by the AO. It is a matter of fact that ... facts have not been doubted by the AO in the assessment order. These are the facts given by appellant and also verified by the investigation wing. The appellant disclosed all the material and details in respect of long term capital gain, while filing the return of her income, therefore

ITO 12(2)(3), Mumbai vs. Greeksoft Institute of Financial Market Pvt. Ltd., Mumbai

In the result, the appeal filed by the revenue is dismissed

ITA 5867/MUM/2017[2011-12]Status: DisposedITAT Mumbai22 Aug 2019AY 2011-12

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2011-12

For Appellant: Shri Kirna Mehta, C.AFor Respondent: Shri Chaudhary Arun Kumar Singh, D.R
Section 133(6)Section 143(1)Section 143(3)Section 147Section 148Section 68

Thereafter, the case of the assessee was reopened by issuing notice under section 148 dated 23.03.2016 after the AO received the information from investigation wing of the Department that the assessee has received share application money from those entities which are managed and controlled by entry provider from Shri Sirish

Income Tax Officer, Ward 2(5), Thane vs. Ostwal Diamond Private Limited, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 4397/MUM/2017[2007-08]Status: DisposedITAT Mumbai22 Aug 2019AY 2007-08

Bench: Shri Pawan Singh & Shri Rajesh Kumarito, Ward-2(5), M/S Ostwal Diamond Pvt. Ltd., Room No. 16, 6Th Floor, 201/1A, Ostwal Park, 2Nd Vs. Ashar It Park, Wagle Indl. Floor, Jesal Park, Bhayander Estate, Road No. 16Z, (W), 401105. Thane (W), 400604. Pan: Aaaco4853A Appellant Respondent Appellant By : Shri Ashish Pophare (Dr) Respondent By : Shri Rajesh Shah (Ar)

For Appellant: Shri Ashish Pophare (DR)For Respondent: Shri Rajesh Shah (AR)
Section 132(4)Section 143(3)Section 147Section 254(1)Section 68

gone through the orders of the authorities below. Under the provisions of Section 147, reopening solely on the basis of information received from the Investigation wing and without independent application of mind is void. The last five line of para 2 of the reason recorded in Writing are as under ... para 8.1 of the assessment order, the Ld. AO has categorically mentioned that further in order to reconfirm the facts as communicated by the Investigation Wing a letter dated 18.02.2015 was issued to the DDIT(lnv), Unit -4(1), Mumbai. Here, it is worthwhile to mention that even