“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

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

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

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

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

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

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

Rohit Jalan, Kolkata vs. ITO, Ward - 36(1), Kolkata

In the result, the appeal of assessee is partly allowed

ITA 2205/KOL/2018[2013-14]Status: DisposedITAT Kolkata17 May 2019AY 2013-14

Bench: Shri A. T. Varkey, Jm] I.T.A. No. 2205/Kol/2018 Assessment Year: 2013-14

Section 10(38)Section 143(1)Section 147Section 148Section 68Section 69C

sham transaction. Further, we not that the AO neither examined the broker nor the stock exchange authority or provide the referred report of the Investigation Wing to the assessee which was relied heavily while framing the assessment and prejudices the mind of AO. So, he brushed aside all the documents ... earlier years, the same could not be treated as bogus simply on the basis of some reports of the Investigation Wing and/or the orders of SEBI and/or the statements of third parties. In support of the aforesaid submissions, the ld AR, in addition to the aforesaid judgements, has referred

Prakasho Devi Saria, Siliguri vs. D.C.I.T., Circle - 3(1), Siliguri

Appeal is allowed in above terms

ITA 2360/KOL/2017[2014-15]Status: DisposedITAT Kolkata17 May 2019AY 2014-15

Bench: Hon’Ble Shri J. Sudhakar Reddy, Am & Shri S.S. Godara, Jm] I.T. A No. 2360/Kol/2017 A.Y 2014-15 Prakasho Devi Saria Vs. Cit(A), Siliguri Pan: Agzpd611L (Appellant) (Respondent)

For Appellant: Shri Dhiraj Lakhotia, ld.AR

Section 132Section 132(4)Section 143(3)

loss in connivance with the entry operators/ shares brokers. (II) A Search & seizure operation u/s.132 of the LT. Act, 1961 was conducted by the Investigation Wing of the department in the office and residential premises of various Share Brokers, Entry Operators and Promoters across the country including at Mumbai ... bogus loss with the capital gain made from Compensation amount received from Haryana Govt. Perusal of aforesaid observations of the AO and finding of investigation wing shows that the Entry Operator Shri Anil Agarwal, who was the promoter of companies viz. M/s First Financial Services Ltd. and Rutron International

M/S. Norinco Private Limited, Kolkata vs. DCIT, Circle - 6(2), Kolkata

Appeal is partly allowed in above terms

ITA 1551/KOL/2017[2007-08]Status: DisposedITAT Kolkata17 May 2019AY 2007-08

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2007-08 M/S Norinco Pvt. Ltd. 14, V/S. Dcit, Circle-6(2), P-7, Netaji Subhas Road, Chowrinighee Square, Kolkata-700 001 Aayakar Bhawan, [Pan No.Aaacn 9867 H] Kolkata-69 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Soumitro Choudhury, Advocate अपीलाथ" क" ओर से/By Appellant Shri C.J. Singh, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 21-02-2019 सुनवाई क" तार"ख/Date Of Hearing 17-05-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2007-08 Arises Against The Commissioner Of Income Tax (Appeals)-2, Kolkata’S Dated 20.04.2017 Passed In Case No.857/Cit(A)-2/14-15, Involving Proceedings U/S 147 R.W.S. 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. The Assessee’S Twin Folded Pleadings Make It Clear That It Challenges Validity Of The Impugned Re-Opening As Well As Both The Cit(A)’S Action Disallowing / Commission Expense Of ₹17,,28,897/- On Account Of Brokerage Commission. 3. We Advert To The Relevant Basic Facts First. This Assessee Is Admittedly Engaged In Commission Agent, Manufacturing, Representatives, Electronic Fair Tradings, Maintenance Contracts & Project Consultancy Services As Per Assessment Order Dated 27.12.2010. The Dispute Herein Issue That Of

Section 147Section 148

Corporate Services (P) Ltd and M/s Indravanau Sales Agency (P) Ltd.; respectively. The Assessing Officer issued sec. 148 notice dated 23.10.2009. The department’s Investigation Wing’s indicated that the said payees had been found to have been providing commission / brokerage bogus sales bills alongwith services. The same triggered ... actual receipt of services. The CIT(A) has upheld the Assessing Officer’s action in his lower appellate findings going by the department investigation wing’s information received. 4. We have given our thoughtful consideration to rival contentions against and in support of the impugned commission / brokerage disallowance made

Swatipushp Dealers Private Limited, Kolkata vs. ITO, Ward - 11(2), Kolkata

Appeal is allowed for statistical purposes in above terms

ITA 1144/KOL/2017[2011-12]Status: DisposedITAT Kolkata17 May 2019AY 2011-12

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2011-12

Section 143Section 143(3)Section 263

assessee’s books of account including profit and loss account and balance-sheet to hold its share applicants as paper transaction as per the investigation wing, Kolkata’s investigation report making it clear that it was a device used for providing active entry for routing of unaccounted money

Lakshya Ice & Cold Storage P Ltd, Aligarh vs. ITO Ward 1(5), Aligarh

In the result, by the assessee is allowed

ITA 124/AGR/2018[2010-11]Status: DisposedITAT Agra16 May 2019AY 2010-11

Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meenam/S Lakshya Ice & Cold Storage Pvt. Ltd. Vs.. Income Tax Officer, Goyal Bhawan, Opp. Maheshwari Inter Ward 1(5), Aligarh College, Sasni Gate, Bye Pass Road, Aligarh (Pan: Aabcl5656R) (Respondent) (Appellant)

For Appellant: Sh. Pradeep K. Sahgal, Adv. & Sh. Utsav Sahgal, C.AFor Respondent: Shri Waseem Arshad, Sr.DR

Section 147Section 148Section 234BSection 271(1)(c)Section 68

avoidance but it also results in money laundering which is a crime. In order to check this menace of ‘Entry business’ the Investigation Wing has been carrying out search and seizure operations on various entry operators from time to time. Apparently this case is also of a similar kind ... material in possession of the AO was sufficient to from a reason to believe. Without doubt, the AO had received a report from the Investigation Wing of the Department which had comprehensively detailed the relevant facts. These facts were obtained by carrying out search and seizure operation and subsequent investigation

Pratap N. Rajgor, Mumbai vs. ITO 19(2)(5), Mumbai

In the result, the appeals as well as the cross-objections are dismissed

ITA 5273/MUM/2018[2010-11]Status: DisposedITAT Mumbai16 May 2019AY 2010-11

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiita No.5273/Mum/2018 A.Y: 2007-08

For Respondent: Shri Awungshi Gimsan &

Section 115JSection 131Section 131(1)Section 133ASection 143(3)Section 148Section 69C

said information was received by the AO from Sales Tax Department, Government of Maharashtra and also from DGIT -Investigation Wing of Mumbai. A survey u/s. 133A of the Act was conducted on Mangalam Drugs & Organics Ltd. (assessee) on 27.08.2013 at three different places as mentioned in page ... survey action was carried out on the assessee in order to verify whether the assessee is engaged in procuring bogus purchase bills. The investigation wing of the Mumbai unit observed that assessee has obtained bogus bills from hawala parties to inflate its turnover with primary motive of enhancing its bank

Express Industrial Services Private Limited, Mumbai vs. Principal Commissioner of Income Tax - 3, Mumbai

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

ITA 3454/MUM/2018[2008-09]Status: DisposedITAT Mumbai16 May 2019AY 2008-09

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

Section 143(3)Section 147Section 148Section 263

making the purchases. Alternatively, with regard to the specific information of bogus sales by the assessee to M/s Shiyon Enterprises received from the Investigation wing, of Rs. 38,48,11,312/- made to aforesaid party should have been treated as sum chargeable to tax under the provisions ... making the purchases. Alternatively, with regard to the specific information of bogus sales by the assessee to M/s Shiyon Enterprises received from the Investigation Wing, total sales of Rs, 38,48,11,312/-made to aforesaid party this could have been treated as sum chargeable to tax under the relevant

Chaganlal Pukhraj Parmar, Mumbai vs. ITO 29(1)(2), Mumbai

The appeal stands partly allowed

ITA 5588/MUM/2016[2009-10]Status: DisposedITAT Mumbai16 May 2019AY 2009-10

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

For Appellant: Shri Vimal Punmiya-Ld.ARFor Respondent: Awanghi Gimson-Ld. DR

Section 133(6)Section 142(1)Section 143(1)Section 143(3)Section 145(3)Section 147Section 148Section 151Section 234ASection 271(1)(c)

reassessment can be made just to make an enquiry or verification. b) Reassessment proceeding cannot be initiate merely on the information received from investigation wing. c) Reassessment proceeding cannot be initiated when the LD. AO have reason to suspect and not reason to believe. 3. On the facts and circumstances

Lexplosion Solution Pvt. Ltd., New Delhi vs. ITO, Ward- 15(2), New Delhi

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

ITA 7762/DEL/2018[2013-14]Status: DisposedITAT Delhi16 May 2019AY 2013-14

Bench: Sh. R.K Pandaassessment Year: 2009-10 M/S. Shishya Edutech (P) Ltd. Ito 4346/4-C, 1St Floor, Ansari Vs Ward – 23(2) Road, Daryaganj, New Delhi New Delhi -02 C/O Shri S. K. Sahpathi House No.579, Sector -16A, Faridabad -121002 Pan No. Aahcs9225R (Appellant) (Respondent)

Section 131Section 143Section 147Section 148Section 151

total income of Rs.12,05,779/-. The return was processed u/s 143 (1) of the IT Act, 1961. Subsequently information was received from the investigation wing of the department that during the course of search operation in the case of Sh. Surender Kumar Jain group of cases and the post ... Assessing Officer while reopening the assessment has not applied his mind and formed his belief on the basis of information received from the investigation wing of the department which is invalid. Further relying on various decisions 3 it was argued that the reopening of the assessment is void in lieu

Rekhi Holdings Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 14, New Delhi

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

ITA 4675/DEL/2018[2010-11]Status: DisposedITAT Delhi16 May 2019AY 2010-11

Bench: Shri R.K. Pandaassessment Year: 2010-11 Rekhi Holdings Pvt. Ltd., Vs. Acit, 36, Sant Nagar, Central Circle-14, East Of Kailash, New Delhi. New Delhi. Pan: Aaacr6025K (Appellant) (Respondent) Assessee By : Shri Ved Jain, Advocate & Shri Rishabh Jain, Ca Revenue By : Shri S.L. Anuragi, Sr. Dr Date Of Hearing : 20.02.2019 Date Of Pronouncement : 16.05.2019 Order This Appeal By The Assessee Is Directed Against The Order Dated 11Th June, 2018 Passed By The Cit(A)-26, New Delhi, Relating To Assessment Year 2010-11. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Private Limited Company & Filed Its Return Of Income On 28Th September, 2010 Declaring A Loss Of Rs.17,71,540/- Which Was Processed U/S 143(1) Of The Act On 25Th January, 2011. Subsequently, A Search & Seizure Operation U/S 132 Of The It Act Was Conducted In The Assessee Company & Its Group Concerns. In Response To Notice U/S 153A, The Assessee Filed Its Return Of Income On 9Th September, 2013 & Assessment U/S 153A/143(3) Of The Act Was Completed Determining The Total Loss At Rs17,12,515/- Wherein Disallowance U/S 14A Of Rs.59,025/- Was Made In The Hands Of The Assessee Company. Subsequently

For Appellant: Shri Ved Jain, Advocate &For Respondent: Shri S.L. Anuragi, Sr. DR

Section 132Section 139(1)Section 143(1)Section 148Section 14ASection 153A

Anil Khosla 2008 (9) TMI 931 (Delhi High Court). 7. He submitted that the Assessing Officer has blindly relied upon the report of the Investigation Wing which itself is not based on any material against the assessee. 6 The mere recording of reasons on the basis of reproduction of information ... from Investigation Wing and issuing notice for initiation of reassessment proceedings does not constitute application of mind much less independent application of mind. Therefore, the proceeding is without jurisdiction. For the above proposition, he relied on the decision of the Hon'ble Bombay High Court in the case

Mangilal Jain, Darjeeling vs. ITO, Ward - 3(3), Darjeeling

Appeal is allowed

ITA 729/KOL/2018[2014-15]Status: DisposedITAT Kolkata15 May 2019AY 2014-15

Bench: Shri S.S, Godaraassessment Year:2014-15 Mangilal Jain Income Tax Officer, बनाम / C/O Advocate Pradip Ward-3(3), Nr. Lal V/S. Lakhotia, 2Nd Floor, Metro Kothi, Darjeeling Plaza, Sf Road, Siliguri-734005 [Pan No.Afkpj 4178 D] .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Dhiraj Lakhotia, A.R अपीलाथ" क" ओर से/By Appellant Shri C.J. Singh, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 05-03-2019 सुनवाई क" तार"ख/Date Of Hearing 15-05-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R This Assessee’S Appeal For Assessment Year 2014-15 Arises Against The Commissioner Of Income-Tax (Appeals)-Siliguri’S Order Dated 22.03.2018 Passed In Case No.69/Cit(A)/Slg/2016-17, Involving Proceedings U/S. 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. The Assessee’S Sole Substantive Grievance Raised In The Instant Appeal Seeks To Reverse Both The Lower Authorities Findings Treating His Short Term Capital Loss (Stcl) Arising From Sale Of Shares After Payment Of Security Transaction Tax (Stt), Amounting To ₹1,92,320/- As Bogus Unexplained Cash Credits. The Cit(A)’S Detailed Discussion To This Effect Reads As Under:- “4. Decision :- I Have Perused The Assessment Order, The Grounds Of Appeal & The Submissions Made By The Ld.. A/R On Behalf Of The Appellant. My Observations & Findings Are As Under :- 4.1. The Present Appeal Emanates After Disallowing Rs. 11,92,320/- Arising Out Of Shares Transaction & Treated The Same As Bogus. In This Case The Assessee Purchased 32000 Shares Of Global Infratech & Finance Ltd. Through Eureka Stock & Shares Broking Services Limited @ Rs. 77.37 Per Share Aggregating To Rs. 24,79,714/- On 11.02.2014 & Further Sold The

Section 131Section 133ASection 143(3)Section 69

company provides transactions in bogus scrips/penny stocks through their broking house to these paper companies. In view of the findings as recorded by the Investigation Wing, you are being show caused to explain as to why the amount of Rs. 24,79,714/- invested in Global Infratech & Finance Limited through ... manipulated by brokers to provide LTCG/STCL. The A.O. has already highlighted that the number of entities involved in arranging this transaction were investigated by investigation wing, Kolkata through survey u/s 133A and recording of statement u/s 131. It has been pointed out by the A.O. that it has been admitted

Assistant Commissioner of Income Tax 24(1), Mumbai vs. Abani Sarbeswar Das, Mumbai

In the result, both the appeals of Revenue are dismissed

ITA 232/MUM/2018[2012-13]Status: DisposedITAT Mumbai15 May 2019AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am

For Appellant: Shri RA Dhyani, DRFor Respondent: Shri Bhupendra Shah, AR

Section 132Section 143(3)Section 147Section 68

agricultural products and carrying our profession of architecture. A search & seizure action was conducted in the Praveen Kumar Jain group of cases by Investigation Wing Mumbai. As a result of search, it was found by the Investigation Wing that this group is a leading entry provider of Mumbai. There

Assistant Commissioner of Income Tax 24(1), Mumbai vs. Abani Sarbeswar Das, Mumbai

In the result, both the appeals of Revenue are dismissed

ITA 193/MUM/2018[2010-11]Status: DisposedITAT Mumbai15 May 2019AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am

For Appellant: Shri RA Dhyani, DRFor Respondent: Shri Bhupendra Shah, AR

Section 132Section 143(3)Section 147Section 68

Shri Nitin Raj Jain, Jaipur vs. Income Tax Officer, Jaipur

In the result, appeal of the assessee is partly allowed

ITA 69/JPR/2018[2012-13]Status: DisposedITAT Jaipur13 May 2019AY 2012-13

For Appellant: Shri Manish Agarwal (CA)For Respondent: Shri Varinder Mehta (CIT)

Section 131Section 142(1)Section 145(3)Section 68

under section 68 by treating the same as unexplained cash credit. In appeal, the assessee raised various objections that the report of the Investigation Wing of Kolkata was considered without supplying the copy to the assessee. The ld. CIT (A) then asked the AO to submit the report ... assessee has submitted that the AO has treated the loan transaction as accommodation entry on the basis of report received from DDIT Investigation Wing Kolkata as well as the statement of Shri Anand Sharma in whose case search was conducted. Further, the AO has observed that the lender companies have

Archit Securities P.Ltd, New Delhi vs. ITO, Ward-2(4), New Delhi

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

ITA 7997/DEL/2018[2005-06]Status: DisposedITAT Delhi13 May 2019AY 2005-06

Bench: Shri R.K. Pandaassessment Year: 2005-06 Archit Securities P. Ltd., Vs. Ito, 26A, Sadhna Enclave, Ward-2(4), New Delhi. New Delhi. Pan: Aaaca7849J (Appellant) (Respondent) Assessee By : Shri Ved Jain, Advocate & Ms Subhi Goyal, Ca Revenue By : Shri S.L. Anuragi, Sr. Dr Date Of Hearing : 07.05.2019 Date Of Pronouncement : 13.05.2019 Order This Appeal By The Assessee Is Directed Against The Ex Parte Order Dated 13Th April, 2016 Passed By The Cit(A)-32, New Delhi, Relating To Assessment Year 2005- 06. 2. Levy Of Penalty Of Rs.44,82,582/- U/S 271(1)(C) Of The It Act By The Assessing Officer Which Has Been Upheld By The Cit(A) Is The Only Issue Raised By The Assessee In The Grounds Of Appeal.

For Appellant: Shri Ved Jain, Advocate &For Respondent: Shri S.L. Anuragi, Sr. DR

Section 132Section 143(3)Section 147Section 148Section 271(1)(c)

income on 29th 3. October, 2005 declaring the total income of Rs.3,24,055/-. On the basis of the information received from the Investigation Wing of the Department that the assessee company has made transactions with M/s Tarun Goel & Associates group companies/firms which was detected during the search proceedings

M/S. Hiteshwari Marketing Pvt. Ltd., Kolkata vs. ITO, Ward - 14(2), Kolkata

In the result, the appeal of the assessee is allowed

ITA 2458/KOL/2017[2008-09]Status: DisposedITAT Kolkata10 May 2019AY 2008-09

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravii.T.A. No.2458/Kol/2017 (Assessment Year: 2008-09)

Section 144Section 147Section 148Section 250Section 68

Greatwall Marketing (P) Ltd. for Asst. Yr. 02-03 Ref: Your letter dated 02/04/09 Please refer to the above. As per information received from investigation wing New Delhi the introduced share capital during the year. had been received from corporate bodies which are non existent and whose capacity to invest ... assessee. It is clear from the reasons recorded by the AO that the AO acted only on the basis of a letter received from Investigation Wing, New Delhi. The reasons recorded does not give as to who has given the bogus entries to the assessee. The reasons recorded also does

ITO, Ward-14(1), Kolkata vs. M/S. Ambey Infratech Pvt. Ltd., Kolkata

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

ITA 1353/KOL/2017[2013-14]Status: DisposedITAT Kolkata10 May 2019AY 2013-14

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi)

Section 2Section 250Section 68

when necessary. 5. The ld. D/R, on the other hand, submitted that the Assessing Officer had relied on the report of the investigation wing. He submitted that Shri Bhagaban Das Agarwal, in a statement had confirmed that the two allottee companies were being run by his front men, one being ... entities M/s. Ekdant Tie Up Pvt. Ltd. & M/s. Good Value Vinimay Pvt. Ltd.. One Shri Bhagaban Das Agarwal had stated before the investigation wing officers that these companies 4 I.T.A. No. 1353/Kol/2017 Assessment Year: 2013-14 I.T.A. No. 1198/Kol/2017 Assessment Year: 2013-14 M/s. Ambey Infratech Pvt. Ltd were

Ambey Infratech Pvt. Ltd., Kolkata vs. ITO, Ward-14(1), Kolkata

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

ITA 1198/KOL/2017[2013-14]Status: DisposedITAT Kolkata10 May 2019AY 2013-14

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi)

Section 2Section 250Section 68

Income Tax Officer-16(1)(5), Mumbai vs. M/S.Re N Raga Media Private Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 6311/MUM/2017[2009-10]Status: DisposedITAT Mumbai09 May 2019AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Bleincome Tax Officer - 16(1)(5) V. M/S. Re N Raga Media Pvt. Ltd., Room No. 439, 4Th Floor Bungalow No. A/8, Svp Nagar Aayakar Bhavan, M.K. Road, Nr. Mhada Telephone Exchange, Mumbai-400 020 Andheri (W), Mumbai – 400 053

For Appellant: Shri Birju S. ShahFor Respondent: Shri D.G. Pansari

Section 131Section 133ASection 147Section 148Section 68

Coming to the merits of the case, the Ld. DR submitted that shareholder company could not be found by the investigation wing of Kolkata and therefore the Assessing Officer could not serve summons u/s. 131 of the Act. Ld. DR submits that the Inspector deputed could not found the company ... cases the Assessing Officers have made additions u/s 68 of Income Tax Act of Share Application Money received based on information provided by the Investigation Wing of Income Tax Department. However, the additions were deleted by the respective learned CIT(A) against which the department had filed Appeals before

Raj Karan Dassani, Kolkata vs. ITO, Ward - 36(1), Kolkata

In the result, the appeal of the assessee is allowed in part

ITA 2346/KOL/2018[2013-14]Status: DisposedITAT Kolkata08 May 2019AY 2013-14

Bench: Sri J. Sudhakar Reddy] I.T.A. No. 2346/Kol/2018 Assessment Year: 2013-14 Raj Karan Dassani......………………..………………………....………………...…………………….….Appellant [Pan : Adnpd 8826 B] Ito, Ward - 36(1), Kolkata………............................................................…....….…………..…...Respondent Appearances By: Shri Anil Kochar, Advocate, Appearing On Behalf Of The Appellant Shri Robin Choudhury, Addl. Cit, Sr. Dr, Appearing On Behalf Of The Respondent.

Section 133ASection 143(1)Section 147Section 16Section 250Section 35(1)(ii)

made to the institution. We find that when the ld AO informed the assessee that Director of HHBRF had given some statement before the Investigation wing as per which the donation made by the assessee was to be held as a bogus transaction and assessee would be invited with consequential