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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

Punit Jain, New Delhi vs. ITO, Ward- 46(2), New Delhi

In the result, the appeals of the assessee are allowed for statistical purposes

ITA 4733/DEL/2018[2012-13]Status: DisposedITAT Delhi29 May 2019AY 2012-13

Bench: Sh. T. S. Kapoorita No. 4729/Del/2018 : Asstt. Year : 2008-09 Ita No. 4730/Del/2018 : Asstt. Year : 2009-10 Ita No. 4731/Del/2018 : Asstt. Year : 2010-11 Ita No. 4732/Del/2018 : Asstt. Year : 2011-12 Ita No. 4733/Del/2018 : Asstt. Year : 2012-13 Ita No. 4734/Del/2018 : Asstt. Year : 2013-14 Sh. Punit Jian, Vs Income Tax Officer, Prop. M/S Khaas Vihidam, 2740/1, Ward-46(2), Roshan Pura, Nai Sarak, New Delhi-110002 Delhi-110006 (Appellant) (Respondent) Pan No. Aahpj1955C Assessee By : Sh. Pawan Saldi, Adv. & Sh. Maneesh Jain, Adv. Revenue By : Sh. S. L. Anuragi, Sr. Dr Date Of Hearing: 28.05.2019 Date Of Pronouncement: 29.05.2019 Order These Are Six Appeals Filed By Assessee Against Separate Orders Of Ld. Commissioner Of Income Tax (Appeals)-16, New Delhi All Dated 27.04.2018. 2. The Assessee Has Taken Similar Grounds Of Appeal & These Were Heard Together, Therefore, For The Sake Of Convenience A Common & Consolidated Order Is Being Passed. 3. For The Sake Of Completeness, The Grounds Of Appeal Taken By Assessee In Ita No. 4729/Del/2018 Are Reproduced Below:

For Appellant: Sh. Pawan Saldi, Adv. &For Respondent: Sh. S. L. Anuragi, Sr. DR
Section 147

basis that purchases are duly supported by bills and all the payments were made by account payee cheques by overlooking findings of the Investigation Wing in the case of Shri Kulwant Singh Yadav, who was running shroff business and he in his statement on oath stated that he issue

Punit Jain, New Delhi vs. ITO, Ward- 46(2), New Delhi

In the result, the appeals of the assessee are allowed for statistical purposes

ITA 4732/DEL/2018[2011-12]Status: DisposedITAT Delhi29 May 2019AY 2011-12

Bench: Sh. T. S. Kapoorita No. 4729/Del/2018 : Asstt. Year : 2008-09 Ita No. 4730/Del/2018 : Asstt. Year : 2009-10 Ita No. 4731/Del/2018 : Asstt. Year : 2010-11 Ita No. 4732/Del/2018 : Asstt. Year : 2011-12 Ita No. 4733/Del/2018 : Asstt. Year : 2012-13 Ita No. 4734/Del/2018 : Asstt. Year : 2013-14 Sh. Punit Jian, Vs Income Tax Officer, Prop. M/S Khaas Vihidam, 2740/1, Ward-46(2), Roshan Pura, Nai Sarak, New Delhi-110002 Delhi-110006 (Appellant) (Respondent) Pan No. Aahpj1955C Assessee By : Sh. Pawan Saldi, Adv. & Sh. Maneesh Jain, Adv. Revenue By : Sh. S. L. Anuragi, Sr. Dr Date Of Hearing: 28.05.2019 Date Of Pronouncement: 29.05.2019 Order These Are Six Appeals Filed By Assessee Against Separate Orders Of Ld. Commissioner Of Income Tax (Appeals)-16, New Delhi All Dated 27.04.2018. 2. The Assessee Has Taken Similar Grounds Of Appeal & These Were Heard Together, Therefore, For The Sake Of Convenience A Common & Consolidated Order Is Being Passed. 3. For The Sake Of Completeness, The Grounds Of Appeal Taken By Assessee In Ita No. 4729/Del/2018 Are Reproduced Below:

For Appellant: Sh. Pawan Saldi, Adv. &For Respondent: Sh. S. L. Anuragi, Sr. DR
Section 147

basis that purchases are duly supported by bills and all the payments were made by account payee cheques by overlooking findings of the Investigation Wing in the case of Shri Kulwant Singh Yadav, who was running shroff business and he in his statement on oath stated that he issue

Punit Jain, New Delhi vs. ITO, Ward- 46(2), New Delhi

In the result, the appeals of the assessee are allowed for statistical purposes

ITA 4731/DEL/2018[2010-11]Status: DisposedITAT Delhi29 May 2019AY 2010-11

Bench: Sh. T. S. Kapoorita No. 4729/Del/2018 : Asstt. Year : 2008-09 Ita No. 4730/Del/2018 : Asstt. Year : 2009-10 Ita No. 4731/Del/2018 : Asstt. Year : 2010-11 Ita No. 4732/Del/2018 : Asstt. Year : 2011-12 Ita No. 4733/Del/2018 : Asstt. Year : 2012-13 Ita No. 4734/Del/2018 : Asstt. Year : 2013-14 Sh. Punit Jian, Vs Income Tax Officer, Prop. M/S Khaas Vihidam, 2740/1, Ward-46(2), Roshan Pura, Nai Sarak, New Delhi-110002 Delhi-110006 (Appellant) (Respondent) Pan No. Aahpj1955C Assessee By : Sh. Pawan Saldi, Adv. & Sh. Maneesh Jain, Adv. Revenue By : Sh. S. L. Anuragi, Sr. Dr Date Of Hearing: 28.05.2019 Date Of Pronouncement: 29.05.2019 Order These Are Six Appeals Filed By Assessee Against Separate Orders Of Ld. Commissioner Of Income Tax (Appeals)-16, New Delhi All Dated 27.04.2018. 2. The Assessee Has Taken Similar Grounds Of Appeal & These Were Heard Together, Therefore, For The Sake Of Convenience A Common & Consolidated Order Is Being Passed. 3. For The Sake Of Completeness, The Grounds Of Appeal Taken By Assessee In Ita No. 4729/Del/2018 Are Reproduced Below:

For Appellant: Sh. Pawan Saldi, Adv. &For Respondent: Sh. S. L. Anuragi, Sr. DR
Section 147

basis that purchases are duly supported by bills and all the payments were made by account payee cheques by overlooking findings of the Investigation Wing in the case of Shri Kulwant Singh Yadav, who was running shroff business and he in his statement on oath stated that he issue

Punit Jain, New Delhi vs. ITO, Ward- 46(2), New Delhi

In the result, the appeals of the assessee are allowed for statistical purposes

ITA 4730/DEL/2018[2009-10]Status: DisposedITAT Delhi29 May 2019AY 2009-10

Bench: Sh. T. S. Kapoorita No. 4729/Del/2018 : Asstt. Year : 2008-09 Ita No. 4730/Del/2018 : Asstt. Year : 2009-10 Ita No. 4731/Del/2018 : Asstt. Year : 2010-11 Ita No. 4732/Del/2018 : Asstt. Year : 2011-12 Ita No. 4733/Del/2018 : Asstt. Year : 2012-13 Ita No. 4734/Del/2018 : Asstt. Year : 2013-14 Sh. Punit Jian, Vs Income Tax Officer, Prop. M/S Khaas Vihidam, 2740/1, Ward-46(2), Roshan Pura, Nai Sarak, New Delhi-110002 Delhi-110006 (Appellant) (Respondent) Pan No. Aahpj1955C Assessee By : Sh. Pawan Saldi, Adv. & Sh. Maneesh Jain, Adv. Revenue By : Sh. S. L. Anuragi, Sr. Dr Date Of Hearing: 28.05.2019 Date Of Pronouncement: 29.05.2019 Order These Are Six Appeals Filed By Assessee Against Separate Orders Of Ld. Commissioner Of Income Tax (Appeals)-16, New Delhi All Dated 27.04.2018. 2. The Assessee Has Taken Similar Grounds Of Appeal & These Were Heard Together, Therefore, For The Sake Of Convenience A Common & Consolidated Order Is Being Passed. 3. For The Sake Of Completeness, The Grounds Of Appeal Taken By Assessee In Ita No. 4729/Del/2018 Are Reproduced Below:

For Appellant: Sh. Pawan Saldi, Adv. &For Respondent: Sh. S. L. Anuragi, Sr. DR
Section 147

basis that purchases are duly supported by bills and all the payments were made by account payee cheques by overlooking findings of the Investigation Wing in the case of Shri Kulwant Singh Yadav, who was running shroff business and he in his statement on oath stated that he issue

Punit Jain, New Delhi vs. ITO, Ward- 46(2), New Delhi

In the result, the appeals of the assessee are allowed for statistical purposes

ITA 4729/DEL/2018[2008-09]Status: DisposedITAT Delhi29 May 2019AY 2008-09

Bench: Sh. T. S. Kapoorita No. 4729/Del/2018 : Asstt. Year : 2008-09 Ita No. 4730/Del/2018 : Asstt. Year : 2009-10 Ita No. 4731/Del/2018 : Asstt. Year : 2010-11 Ita No. 4732/Del/2018 : Asstt. Year : 2011-12 Ita No. 4733/Del/2018 : Asstt. Year : 2012-13 Ita No. 4734/Del/2018 : Asstt. Year : 2013-14 Sh. Punit Jian, Vs Income Tax Officer, Prop. M/S Khaas Vihidam, 2740/1, Ward-46(2), Roshan Pura, Nai Sarak, New Delhi-110002 Delhi-110006 (Appellant) (Respondent) Pan No. Aahpj1955C Assessee By : Sh. Pawan Saldi, Adv. & Sh. Maneesh Jain, Adv. Revenue By : Sh. S. L. Anuragi, Sr. Dr Date Of Hearing: 28.05.2019 Date Of Pronouncement: 29.05.2019 Order These Are Six Appeals Filed By Assessee Against Separate Orders Of Ld. Commissioner Of Income Tax (Appeals)-16, New Delhi All Dated 27.04.2018. 2. The Assessee Has Taken Similar Grounds Of Appeal & These Were Heard Together, Therefore, For The Sake Of Convenience A Common & Consolidated Order Is Being Passed. 3. For The Sake Of Completeness, The Grounds Of Appeal Taken By Assessee In Ita No. 4729/Del/2018 Are Reproduced Below:

For Appellant: Sh. Pawan Saldi, Adv. &For Respondent: Sh. S. L. Anuragi, Sr. DR
Section 147

basis that purchases are duly supported by bills and all the payments were made by account payee cheques by overlooking findings of the Investigation Wing in the case of Shri Kulwant Singh Yadav, who was running shroff business and he in his statement on oath stated that he issue

ITO, New Delhi vs. M/S. Sterling India Capital Services (P) Ltd., New Delhi

In the result appeal of the learned assessing officer is partly allowed

ITA 2117/DEL/2016[2010-11]Status: DisposedITAT Delhi28 May 2019AY 2010-11

Bench: Shri Amit Shukla & Shri Prashant Maharishiito, Vs. Sterling India Capital Ward 24(2), Services Pvt Ltd, New Delhi 14A/33, Wea, Jetking Building, Guru Nanak Market, Karol Bagh, New Delhi Pan: Aaacs2178L (Appellant) (Respondent)

For Appellant: Shri R. C Rai, CAFor Respondent: Shri K. Hauthang, Sr. DR
Section 133Section 14Section 14A

assessing officer rejected the contention and found that they all have bank account in one branch of Axis Bank, the investigation done by the investigation wing showed the modus operandi of the entry operators. Further to investigate the matter, the learned assessing officer called the detail from the bank account ... among themselves till it reached ultimate beneficiaries. Based on these enquiries conducted by the assessing officer himself, coupled with the report received from the investigation wing, he held that it was proved that these companies are nothing but the facilitator in the chain of companies controlled and operated

A.B.Exports, Mumbai vs. Income Tax Officer Ward-19(1)(1), Mumbai

In the result, the appeal is dismissed

ITA 4013/MUM/2018[2011-12]Status: DisposedITAT Mumbai27 May 2019AY 2011-12

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2011-12 M/S A B Exports, Chitrakut Ito, Ward-19(1)(1), 2Nd Bldg., Malabar Hill, Vs. Floor, Matru Mandir, Mumbai-400006. Tardeo Road, Mumbai- 400007 Pan No. Aalfa8367R Appellant Respondent Assessee By : Ms. Mrugakshi K. Joshi, Ar Revenue By : Mr. Chaitanya Anjaria, Dr Date Of Hearing : 15/05/2019 Date Of Pronouncement: 27/05/2019

For Appellant: Ms. Mrugakshi K. Joshi, ARFor Respondent: Mr. Chaitanya Anjaria, DR
Section 132Section 132oSection 143(3)Section 147Section 148

mentioned here that a search and seizure action u/s 132of the Act was conducted on Rajendra Jain Group on 03.10.2013 by the Investigation Wing of the Department. From the evidence collected during the course of said search, the names of the beneficiaries who had obtained accommodation entry of bogus sales ... from various concerns were found out. As a result of the above search, the Assessing Officer (AO) received information from the Investigation Wing of the Department that the appellant has received accommodation entries of bogus purchases from the following concerns during the financial year 2010-11 relevant

ITO 12(3)(3), Mumbai vs. Lucas Meyer Industries, Mumbai

In the result, appeal filed by the revenue is allowed, for statistical

ITA 3645/MUM/2017[2008-09]Status: DisposedITAT Mumbai24 May 2019AY 2008-09

Bench: Shri Sandeep Gosain () & Shri G Manjunatha () Ito-12(3)(3), Mumbai Vs M/S Lucas Meyer Industries Pvt Ltd 205/D, Veena Nagar, Chincholi Road Malad W), Mumbai 400 064 Pan : Aaacl6818N Appellant Respondednt

Section 133(6)Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 68

same. This would be apparent from the observations of the assessing officer in the assessment order to the following effect:- "Investigation made by the Investigation Wing of the Department clearly showed that this was nothing but a sham transaction of accommodation entry. The assessee was asked to explain ... been duly considered and found not acceptable. This entry remains unexplained in the hands of the assessee as has been arrived by the Investigation wing of the Department. As such entries of Rs. 55,50,0007- received by the assessee are treated as an unexplained cash credit in the hands

ITO 19(2)(3), Mumbai vs. Mukesh C. Sanghvi, Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 2457/MUM/2017[2009-10]Status: DisposedITAT Mumbai24 May 2019AY 2009-10

Bench: Shri Sandeep Gosain () & Shri G Manjunatha () Ito-19(2)(3), Mumbai Vs Shri Mukesh C Sanghvi Prop M/S Rajendra Steel & Alloys Room No.6, Ground Floor, 79, 2Nd Pathan Street, 5Th Kumbharwada Mumbai 400 004 Pan : Anzps6511Q Appellant Respondednt

Section 132Section 133(6)Section 143(3)Section 145(3)Section 147Section 69C

parties of a group concern of M/s Bhanwarlal group of companies, who were in the business of providing accommodation entries as established by the investigation wing consequent to search action u/s 132 of the I. T.Act. 1961?" 2 ITA 2457/Mum/2017 2 "On the facts and circumstances of the case

ITO, New Delhi vs. M/S. Computer Home Information Plus Pvt. Ltd., Delhi

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

ITA 5680/DEL/2016[2012-13]Status: DisposedITAT Delhi24 May 2019AY 2012-13

Bench: Shri Bhavnesh Saini & Shri N.K. Billaiyaassessment Year: 2012-13

Section 133(6)Section 68

lender companies are operated by one Shri Himanshu Verma who had admitted himself as entry provider in his statement recorded an oath by the Investigation Wing, Delhi during the course of search and seizure operation conducted on 29.03.2012. 5 14. The AO finally concluded by holding that the assessee

Mamta Gupta, Jaipur vs. ITO, Jaipur

In the result, appeal of the assessee is dismissed

ITA 280/JPR/2017[2011-12]Status: DisposedITAT Jaipur22 May 2019AY 2011-12
For Appellant: Shri H.M. Singhvi &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132Section 139(1)Section 153C

premised as well as residential premised of this group. During the course of search proceedings various incriminating documents/papers were found and seized by the Investigation Wing of the Department. Out of which some documents were belonging to you as per details given here under: S. Premises Annexure/ Exhibit Page

Raman Trikha, Mumbai vs. Income Tax Officer 16(1)(5), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be partly allowed

ITA 5413/MUM/2017[2011-12]Status: DisposedITAT Mumbai22 May 2019AY 2011-12

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.5413/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2011-12) Raman Trikha बिधम/ Ito 16 (1)(5) 403A, Adelphi Co-Op. Hsg. Room No. 439, Aaykar Vs. Bhavan, 4Th Floor, M.K. Soc., Building No. 10, Shastri Nagar, Andheri West Road, Churchgate, Mumbai- (Mumbai)-400053. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabpt7266L (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Sashank Dundu Revenue By: Shri R. Sindhu (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 14/05/2019 घोषणा की तारीख /Date Of Pronouncement: 22/05/2019 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 08.06.2017 Passed By The Commissioner Of Income Tax (Appeals) -4, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2011- 12. 2. The Assessee Has Raised The Following Grounds: -

For Appellant: Shri Sashank DunduFor Respondent: Shri R. Sindhu (Sr. AR)
Section 133ASection 143(1)Section 143(2)Section 147Section 148

processed u/s 143(1) of the I.T. Act, 1961. Thereafter, the information received that the survey action u/s 133A was conducted by the Investigation Wing, Mumbai in the case of Shree Ram Mills Group on 28.02.2013. It was also found that the above mentioned group agreed to made bogus sale

The Gita Education Society, Delhi vs. ITO, Exemption Ward, Ghaziabad

In the result, assessee’s appeal is allowed

ITA 7441/DEL/2018[2010-11]Status: DisposedITAT Delhi22 May 2019AY 2010-11

Bench: Hon’Ble Shri G. D. Agrawal & Hon’Ble Smt. Suchitra Kamblethe Gita Education Vs Income Tax Officer, Exemption Society, C/O Kapil Goel Ward, Ghaziabad Adv F-26/124 Sector 7 Rohini, Delhi-110085 Pan-Aaaat9753G (Appellant) (Respondent)

Section 12ASection 143(3)Section 147Section 148Section 35

taxmann.com 119 (Gujarat) (copy enclosed) where Hon’ble Gujarat High Court held that where reassessment proceedings were initiated on basis of information received from Investigation wing that assessee had received certain amount from shell companies working as an accommodation entry provider, merely because these transactions were scrutinised by Assessing Officer ... unjustified 3. Pushpak Bullion (P.) Ltd. Vs DCIT[2017] 85 taxmann.com 84 (Gujarat)(copy enclosed) where Hon’ble Gujarat High Court held that where investigation wing of department had during course of investigation in case of a third party found that he was indulged in providing accommodation entries and bogus

Ratan Pal Kain, Ghaziabad vs. ITO, Ward- 2(2), Ghaziabad

In the result, appeal filed by the assessee is allowed

ITA 1273/DEL/2018[2009-10]Status: DisposedITAT Delhi22 May 2019AY 2009-10

Bench: Sh. N. K. Billaiya

For Appellant: Sh. Akhilesh Kumar, AdvocateFor Respondent: Sh. S. L. Anuragi, Sr. DR
Section 148

Before me, the Counsel for the assessee vehemently stated that the A.O without making any enquiry/investigation has simply borrowed the information given by the Investigation Wing without applying his own mind before the issue of notice u/s 148 of the Act. It is the say of the Counsel that ... before us. 7. The learned authorized representative submitted :- (i) That the reasons recorded by the Assessing Officer are based on information supplied by the Investigation Wing; there is no independent application of mind by the Assessing Officer. He referred to the reason which clearly shows, according to him, that there

Shri Sandeep Sharma, Jaipur vs. Deputy Commissioner of Income Tax, Circle-6, Jaipur

In the result, appeal of the assessee is partly allowed

ITA 223/JPR/2019[2010-11]Status: DisposedITAT Jaipur21 May 2019AY 2010-11
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Ashok Khanna (JCIT)
Section 143(1)Section 143(3)Section 147Section 148

other hand, the ld. D/R has relied upon the orders of the authorities below and submitted that the AO has received the information from Investigation Wing whereby it was found that certain brokers were indulged in shifting the fictitious profits/losses in the garb of client code modification in the Stock ... Officer has reopened the assessment on the basis of the information in the shape of the 6 Shri Sandeep Sharma, Jaipur. report of the Investigation Wing of Mumbai and Ahmadabad. There is no dispute that the assessee has done trade at stock exchange through the stock broker M/s C.M. Goyenka

Deputy Commissioner of Income Tax-4(1)(2), Mumbai vs. Ashvira Fashions Limited, Mumbai

ITA 4388/MUM/2017[2011-12]Status: DisposedITAT Mumbai21 May 2019AY 2011-12

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am Aayakr Apila Sam./ Ita No. 4388/Mum/2017 (Inaqa-Arna Baya- / Assessment Year 2011-12) The Dy. Commissioner Of Ashvira Fashions Limited Income Tax, Shop No. 54, Ground Floor, Circle-4(1)(2), Room No. 640, 343, Badamwadi, Kalbadevi Vs. 6Th Floor, Aayakar Bhavan, Road, Mumbai-400 002 M.K. Road, Mumbai-400 020 .. (Apilaaqai- / Appellant) (P`%Yaqaai- / Respondent) स्थायी लेखा िं./Pan No. Aabca3964B प्रत्याक्षेप सM./ Co No. 304/Mum/2018 (Arising In Ita No. 4388/Mum/2017 For Ay 2011-12) Ashvira Fashions Limited The Dy. Commissioner Of Shop No. 54, Ground Floor, Income Tax, 343, Badamwadi, Kalbadevi Circle-4(1)(2), Room No. Vs. Road, Mumbai-400 002 640, 6Th Floor, Aayakar Bhavan, M.K. Road, Mumbai-400 020 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) अपीलाथी की ओर े / Appellant By : Shri Satischandra Rajore, Dr प्रत्यथी की ओर े / Respondent By : S/Shri Dr. K Shivaram & Rahul Hakani, Ars’ ुनवाई की तारीख / Date Of Hearing: 09-05-2019 घोषणा की तारीख / Date Of Pronouncement : 21-05-2019 Co No. 304/Mum/2018

For Appellant: Shri Satischandra Rajore, DRFor Respondent: S/Shri Dr. K Shivaram, &
Section 143(1)Section 143(2)Section 143(3)Section 148Section 68

addition u/s 68 towards Joan taken by the appellant from 3 parties of Rs 90 lakhs on the basis of this information received from Investigation wing from search conducted in the case of third party. However, AO has not made any further enquiry to corroborate his findings. A perusal ... statement to the CO No. 304/Mum/2018 appellant. The AO has not done any independent enquiry but only relied on the evidence gathered by the Investigation Wing. If the AO had any reason to believe that the relevant concerns of Shri Jain were indulging in providing accommodation entries

Shakuntala Properties P.Ltd, New Delhi vs. ITO, Ward-23(1), New Delhi

In the result, all the 03 appeals filed by the assessee are allowed

ITA 2381/DEL/2018[2009-10]Status: DisposedITAT Delhi21 May 2019AY 2009-10

Bench: Sh. H.S. Sidhuassessment Year: 2009-10

Section 143(3)Section 148Section 68

Shakuntla Properties Pvt. Ltd. vs. ITO (ITA NO. 2381/Del/2018) (AY 2009-10). 2. Brief facts of the case are that AO received information from Investigation Wing of the Department at New Delhi about the result of Search and Seizure operations carried out in the case of Sh Surender Kumar Jain ... share capital, share premium or loan etc through cheque or RTGS etc. After receiving and analyzing the seized documents and report from the Investigation Wing, it was inferred by the AO that the assessee has taken accommodation entry amounting to Rs 40,00,000/- in FY 2008-09 from three

Shakuntala Agencies P.Ltd, Delhi vs. ITO, Ward-23(1), New Delhi

In the result, all the 03 appeals filed by the assessee are allowed

ITA 2379/DEL/2018[2009-10]Status: DisposedITAT Delhi21 May 2019AY 2009-10

Bench: Sh. H.S. Sidhuassessment Year: 2009-10

Section 143(3)Section 148Section 68

Shakuntla Properties Pvt. Ltd. vs. ITO (ITA NO. 2381/Del/2018) (AY 2009-10). 2. Brief facts of the case are that AO received information from Investigation Wing of the Department at New Delhi about the result of Search and Seizure operations carried out in the case of Sh Surender Kumar Jain ... share capital, share premium or loan etc through cheque or RTGS etc. After receiving and analyzing the seized documents and report from the Investigation Wing, it was inferred by the AO that the assessee has taken accommodation entry amounting to Rs 40,00,000/- in FY 2008-09 from three

Ipl Realtors P.Ltd, New Delhi vs. ITO, Ward-12(4), New Delhi

In the result, all the 03 appeals filed by the assessee are allowed

ITA 2378/DEL/2018[2009-10]Status: DisposedITAT Delhi21 May 2019AY 2009-10

Bench: Sh. H.S. Sidhuassessment Year: 2009-10

Section 143(3)Section 148Section 68

Shakuntla Properties Pvt. Ltd. vs. ITO (ITA NO. 2381/Del/2018) (AY 2009-10). 2. Brief facts of the case are that AO received information from Investigation Wing of the Department at New Delhi about the result of Search and Seizure operations carried out in the case of Sh Surender Kumar Jain ... share capital, share premium or loan etc through cheque or RTGS etc. After receiving and analyzing the seized documents and report from the Investigation Wing, it was inferred by the AO that the assessee has taken accommodation entry amounting to Rs 40,00,000/- in FY 2008-09 from three

Paramount Minerals and Chemicals Limited, Mumbai vs. ACIT- 4(3)(1), Mumbai

The appeal stands dismissed in terms of our above order

ITA 3185/MUM/2018[2009-10]Status: DisposedITAT Mumbai20 May 2019AY 2009-10

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am

For Appellant: Written SubmissionsFor Respondent: Shri Neil Philip – Ld. DR
Section 143(2)Section 143(3)Section 147Section 148Section 153

circumstances and in law, the Ld. CIT(Appeals)erred in upholding the reassessment proceedings initiated solely on the basis of an intimation received from investigation wing of the Department, about suspicious suppliers of goods. 4. On the facts and in the circumstances and in law, the Ld. CIT(Appeals) erred