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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

ITO, Ludhiana vs. M/S C.C. Cold Storage, Ludhiana

In the result appeal of the Revenue is dismissed

ITA 1137/CHANDI/2016[2011-12]Status: DisposedITAT Chandigarh09 Apr 2018AY 2011-12

Bench: Ms. Diva Singh & Ms. Annapurna Guptaassessment Year: 2011-12

For Appellant: Shri Ashwani KumarFor Respondent: Smt. Chandrakanta

made by treating the said income as income from undisclosed sources. The addition was made by mainly by relying on the report of the investigation wing. No independent enquiry was conducted and no other material was brought on file by the Assessing Officer. The AR explained that the appellant firm ... Assessing Officer was not justified in making the addition by holding that making the addition merely on the basis of the report of the investigation wing, without conducting any enquiry or bringing any adverse material, whatsoever, on record. Moreover, the books of accounts which if not found reliable ought

Nirmala Agarwal, Jaipur vs. ACIT, Jaipur

In the result, both the appeals of the assessee are allowed

ITA 996/JPR/2016[2008-09]Status: DisposedITAT Jaipur06 Apr 2018AY 2008-09
For Appellant: Shri Manish Agarwal (CA)For Respondent: Shri J.C. Kulhari (JCIT)
Section 132(4)Section 143(3)Section 145(3)Section 148

assessee’s own case and the G.P. rate in the diamond trading remained accepted. Thereafter on the basis of an information received from Investigation Wing, Mumbai, a notice U/s 148 of the Act was issued wherein it was alleged that the assessee has obtained accommodation entries in respect of diamond ... corroborative evidence or material except the part of so called statements of one Sh. Rajendra Kumar Jain, stated to have been recorded by Investigation Wing, Mumbai during the course of search conducted in his case on 03.10.2013 for supporting the allegation that the purchases made by assessee from five parties

Nirmala Agarwal, Jaipur vs. ACIT, Jaipur

In the result, both the appeals of the assessee are allowed

ITA 995/JPR/2016[2007-08]Status: DisposedITAT Jaipur06 Apr 2018AY 2007-08
For Appellant: Shri Manish Agarwal (CA)For Respondent: Shri J.C. Kulhari (JCIT)
Section 132(4)Section 143(3)Section 145(3)Section 148

assessee’s own case and the G.P. rate in the diamond trading remained accepted. Thereafter on the basis of an information received from Investigation Wing, Mumbai, a notice U/s 148 of the Act was issued wherein it was alleged that the assessee has obtained accommodation entries in respect of diamond ... corroborative evidence or material except the part of so called statements of one Sh. Rajendra Kumar Jain, stated to have been recorded by Investigation Wing, Mumbai during the course of search conducted in his case on 03.10.2013 for supporting the allegation that the purchases made by assessee from five parties

ITO, Kota vs. S.S. Poly Chemicals Pvt. Ltd., Kota

In the result, the appeal of the Revenue is allowed and the C

ITA 947/JPR/2016[2007-08]Status: DisposedITAT Jaipur06 Apr 2018AY 2007-08
For Appellant: Shri P.C. Parwal, CAFor Respondent: Smt. Seema Meena, JCIT - DR fu/kZkfjrh dh vksj ls@
Section 148Section 68

material gathered by the Department during the course of search conducted in the case of Shri Surendra Kumar Jain Group by the Investigation Wing, New Delhi, the assessee company had taken accommodation entry of Rs. 48.00 lacs from the said racket in Delhi through M/s. Parisudh Finance Company

Assistant Commissioner of Income Tax Central Circle-2(4), Bangalore vs. Sri Ramappa Chandru, Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2111/BANG/2017[2015-16]Status: DisposedITAT Bangalore06 Apr 2018AY 2015-16

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Assistant Commissioner of Income Tax Central Circle-2(4), Bangalore vs. Sri Ramappa Chandru, Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2110/BANG/2017[2014-15]Status: DisposedITAT Bangalore06 Apr 2018AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Assistant Commissioner of Income Tax Central Circle-2(4), Bangalore vs. Sri Ramappa Chandru, Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2109/BANG/2017[2013-14]Status: DisposedITAT Bangalore06 Apr 2018AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Assistant Commissioner of Income Tax Central Circle-2(4), Bangalore vs. Sri Ramappa Chandru, Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2108/BANG/2017[2012-13]Status: DisposedITAT Bangalore06 Apr 2018AY 2012-13

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Assistant Commissioner of Income Tax Central Circle-2(4), Bangalore vs. Sri Ramappa Chandru, Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2107/BANG/2017[2011-12]Status: DisposedITAT Bangalore06 Apr 2018AY 2011-12

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Assistant Commissioner of Income Tax Central Circle-2(4), Bangalore vs. Sri Ramappa Chandru, Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2106/BANG/2017[2010-11]Status: DisposedITAT Bangalore06 Apr 2018AY 2010-11

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Assistant Commissioner of Income Tax Central Circle-2(4), Bangalore vs. Sri Ramappa Chandru, Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2105/BANG/2017[2009-10]Status: DisposedITAT Bangalore06 Apr 2018AY 2009-10

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Sri Ramappa Chandru @ R Chandru, Bangalore vs. Deputy Commisssioner of Income Tax Central Circle-2(4), Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2019/BANG/2017[2015-16]Status: DisposedITAT Bangalore06 Apr 2018AY 2015-16

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Sri Ramappa Chandru @ R.Chandru, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-2(4), Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2018/BANG/2017[2014-15]Status: DisposedITAT Bangalore06 Apr 2018AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Sri Ramappa Chandru @ R Chandru, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-2(4), Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2017/BANG/2017[2013-14]Status: DisposedITAT Bangalore06 Apr 2018AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Sri Ramappa Chandru @ R Chandru, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-2(4), Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2016/BANG/2017[2012-13]Status: DisposedITAT Bangalore06 Apr 2018AY 2012-13

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Sri Ramappa Chandru @ R Chandru, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-2(4), Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2015/BANG/2017[2011-12]Status: DisposedITAT Bangalore06 Apr 2018AY 2011-12

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Sri Ramappa Chandru @ R Chandru, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-2(4), Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2014/BANG/2017[2010-11]Status: DisposedITAT Bangalore06 Apr 2018AY 2010-11

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Sri Ramappa Chandru @ R Chandru, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-2(4), Bangalore

In the result, out of seven appeals of the assessee, two appeals for A

ITA 2013/BANG/2017[2009-10]Status: DisposedITAT Bangalore06 Apr 2018AY 2009-10

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri E.S.N. Prasad, CIT (DR)
Section 132Section 143Section 153ASection 234B

conduct of their business. All the 6 persons were produced in course of search operations and their statements have been recorded by the Investigation Wing. In the statement recorded by the Investigation Wing there is no suggestion that these persons are benamis of the appellant and their income ... assessed in the hands of the appellant. The assessee has discharged the onus casted upon him by producing the 6 persons before the Investigation Wing and statement having been recorded from all the 6 persons. In the statements recorded of 6 persons there is nothing even to suggest that

Shailesh D. Mehta, Mumbai vs. Income Tax Officer 17(3)(3), Mumbai

Appeal is allowed in favour,of the assessee,in part

ITA 4913/MUM/2017[2010-11]Status: DisposedITAT Mumbai04 Apr 2018AY 2010-11
For Appellant: Shri Bhupendra Shah -ARFor Respondent: Shri V. Justin -DR
Section 133Section 143(3)Section 250(6)Section 254(1)

Rs.90.85 lakhs. 2.Effective ground of appeal is about confirming addition of Rs. 85.79 lakhs.During the assessment proceedings,the AO received information from the investigation wing that certain parties were indulging in issuing bogus bills,that they were not supplied goods to the purchas -ers,that the Maharashtra VAT Department

ITO 6(3)(3), Mumbai vs. Juliet Industries Ltd. (Formerly Known As Juliet Products Ltd.), Mumbai

ITA 5975/MUM/2016[2009-10]Status: DisposedITAT Mumbai04 Apr 2018AY 2009-10

Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No. 5452/Mum/2016 (िनधा"रण वष" / Assessment Year: 2009-10) Juliet Industries Limited Income Tax Officer 6(3)(3) Room No. 524, 5Th Floor A-313 बनाम/ Shah & Nayar Industrial Estate Aaykar Bhawan Vs. Lower Parel M.K.Road Mumbai-400 020 Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacj-6924-H (अपीलाथ" /Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No. 5975/Mum/2016 (िनधा"रण वष" / Assessment Year: 2009-10) Income Tax Officer 6(3)(3) Juliet Industries Limited Room No. 524, 5Th Floor A-313 बनाम/ Aaykar Bhawan Shah & Nayar Industrial Estate Vs. M.K.Road Lower Parel Mumbai-400 020 Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacj-6924-H (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: Vijay Mehta, Ld.ARFor Respondent: V.Vidhyadhar, Ld. DR
Section 133(6)Section 143(1)Section 143(3)Section 147Section 148Section 68

entities are providers of bogus bills. These parties have issued the bills without actual delivery of goods. As per the information provided by the investigation wing, it was emerged that the purchases shown by the assessee from the above parties are non-genuine and the assessee has obtained accommodation entries