“investigation wing”

ITO 19(2)(1), Mumbai vs. Jayesh Gandhi, Mumbai

In the result, appeal filed by the Revenue is treated as allowed for statistical purposes

Bench: Shri B.R. Baskaran (Am)& Shri Pawan Singh (Jm)

call for the financial statements of lender and he has made the impugned addition on the basis of observations made by the Investigation Wing. He submitted that the assessee has submitted all the available documents to prove the genuineness of loan. Accordingly, he submitted that the learned

Lodha Estate India Ltd, Mumbai vs. DCIT Cen Cir 7(3), Mumbai

In the result, the appeals filed by the assessee (in Grounds Nos

Bench: Shri C. N. Prasad, Jm &Dr. A.L.Saini, Am आयकरअपीऱसं./Ita No.5466/M/2016 (निर्धारणवषा / Assessment Year: 2008-09) Lodha Estate India Ltd. Vs. Dcit Cen Cir.7(3), Mumbai 412, 4Th Floor, 17G, Vardhaman Room No.655, Aaykarbhavan, M.K. Chamber, Cawasji Patel Road, Road, Mumbai – 400 020. Horniman Circle, Fort, Mumbai – 400 001. स्थायीऱेखासं./ जीआइआरसं./ Pan/Gir No. : Aaacl 1723 E (Assessee) .. (Respondent) Assessee By :Shri Jitendra Jain, Advocate Respondent By :Shri V. Vidhyadhar, Dr सुनवाईकीतारीख/ Date Of Hearing : 22/02/2018 घोषणाकीतारीख/Date Of Pronouncement : 27/02/2018 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am:

real estate properties. A search and seizure action u/s.132(1) of the I.T. Act was conducted in the Lodha Group of cases by the Investigation Wing on 10/01/2011. During the search proceedings, Shri Abhinandan Lodha, key person of the Lodha group made a declaration of additional income

ITO 14(3)(2), Mumbai vs. Vinaylene Textile Industries P.Ltd, Mumbai

In the result, the issue stands remitted to the file of the assessing officer

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./I.T.A. No.3240/Mum/2017 ("नधा"रण वष" / Assessment Year: 2012-13) Ito-14(3)(2), M/S. Vinaylene Textile Industries 458, 4Th Floor, Aayakar Bhavan, Pvt. Ltd. बनाम/ Gala No. 8, 1St Floor, Mumbai-400 020 Kuntal Modi Estate, L.B.S. Marg, Vs. Ghatkopar (West), Mumbai-400 086 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacv 1653 K (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Ms. Aarjoo Goradia ""यथ" क" ओर से/Respondent By : Dr. K. Shivaram & Shri Rahul K. Hakani सुनवाई क" तार"ख / : 07.12.2017 Date Of Hearing घोषणा क" तार"ख / : 23.02.2018 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Appeal By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) & Pertains To The Assessment Year 2012-13. 2. The Grounds Of Appeal Read As Under: 1. "On The Facts & In The Circumstances Of The Case & In Law, The Ld.Cit(A) Has Erred In Deleting The Addition Of Rs.70,00,000/- On A/C Of Unexplained Cash Credit U/S 68. The Companies From Which The Assessee Has Accepted Shares Application Money Of Rs.70,00,000/- Were Controlled & 2 Ito Vs. M/S. Vinaylene Textile Industries Pvt. Ltd. Operated By Shri Praveen Kumar Jain, Who Admitted In His Statement Recorded During The Course Of Search & Seizure Action That The Concerns/Companies Controlled By Him Were Only Engaged In Providing Accommodation Entries To Various Parties Of Which The Assessee Is Also One Of The Beneficiaries. 2. The Appellant Craves Leave To Add, Amend, Vary, Omit Or Substitute The Aforesaid Ground Of Appeal At Any Time Before Or At The Time Of Hearing Of Appeal.

that subsequent to the search action in the case of Shri Praveen Kumar Jain, search and seizure action was carried out by the Mumbai Investigation Wing in Subhlaxmi Group. Subhalaxmi Group engaged in the business of manufacturing of textiles, had taken accommodation entries of bogus share capital from various entry ... they were providing accommodation entry in purchase, long term capital gain and unsecured loan and share application money. In the information gathered by the Investigation Wing from the premises of Shri Praveen Kumar Jain, it is seen that the assessee is one of the beneficiary of the accommodation entries

Pramod B. Agarwal(HUF), Mumbai vs. Income Tax Officer-21(2)(5), Mumbai

Bench: Sh. R. C. Sharma, Am & Sh. Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 6581 & 6582/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2007-08&2008-09)

return was processed u/s.143(1) of the I.T.Act. 5. As per the background of the case, the information was received from the Investigation Wing of the Income Tax Department to the effect that a search and seizure action u/s.132 of the Income Tax Act, 1961 was undertaken in the case ... date of search during the period when the alleged transactions were carried out for the beneficiaries. As per the information passed by the Investigation Wing the various kinds of bills provided by MukeshChoksi group of companies are as under:- i) Speculation profit entries ii) Short term capital gain/loss iii) Long

Anil D Agrawal, Mumbai vs. ITO Cir 17(1)(1), Mumbai

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

Bench: Shri Joginder Singh & Shri G. Manjunathashri Anil D. Agrawal Income Tax Officer-17(1)(1) A-13, Omnitech House Room No. 115, 1St Floor Vs. Kondivita, Marol Midc Aayakar Bhavan, M.K. Road Andheri (E), Mumbai 400059 Mumbai 400020 Pan – Aerpa1868D Appellant Respondent

notice, the assessee has filed purchase bills. However, he failed to furnish further evidences in the backdrop of clear findings by the Investigation Wing that these parties are suspicious dealers indulged in providing accommodation entries without any delivery of actual material. Therefore, in view of the survey findings ... admitted fact that the assessee is indulged in providing circular accommodation entries to certain beneficiaries and this fact has been admitted before the Investigation Wing in the statement recorded in the course of survey proceedings. The AO has estimated a commission of 3% on total circular transactions

Sanjay H. Shah, Mumbai vs. Income Tax Officer-13(2)(4), Mumbai

In the result the ground No

Bench: Shri R.C.Sharma, Accoutant Member & Shri Pawan Singh

other hand, the ld. DR for the Revenue supported the orders of authorities below. The ld. DR for the Revenue argued that the Investigation Wing of the Income-tax Department made full-fledged enquiry. The parties from whom the assessee has shown the purchases are bogus Hawala dealers. The hawala

ACIT - 17(3), Mumbai vs. Vijay N. Mehta, Mumbai

Bench: Sri Mahavir Singh, Jm & Sri Ramit Kochar, Am The Asst. Commissioner Of Shri Vijay N Mehta 13, 1St Floor, 338, Narshi Income Tax-17(3), Vs. Aayakar Bhavan, R.No. 137, Natha Street, Masjid Bunder M.K Rd., Mumbai-400 020 (W), Mumbai-400 009 Appellant .. Respondent Pan No. Aadpm8512G Shri Vijay N Mehta The Asst. Commissioner Of 13, 1St Floor, 338, Narshi Income Tax-17(3), Vs. Natha Street, Masjid Bunder Aayakar Bhavan, R.No. 137, (W), Mumbai-400 009 M.K Rd., Mumbai-400 020 Appellant .. Respondent

case are that the assessee is proprietor of Rajvi Chemical Corporation trading in chemicals and solvent. The AO received information from the investigation wing of the department that the assessee is one of the beneficiaries of the bogus purchases/ bogus bills with following 8 parties: - Sr. Name of the party

Vijay N Mehta, Mumbai vs. Asst CIT RG 17(3), Mumbai

Bench: Sri Mahavir Singh, Jm & Sri Ramit Kochar, Am The Asst. Commissioner Of Shri Vijay N Mehta 13, 1St Floor, 338, Narshi Income Tax-17(3), Vs. Aayakar Bhavan, R.No. 137, Natha Street, Masjid Bunder M.K Rd., Mumbai-400 020 (W), Mumbai-400 009 Appellant .. Respondent Pan No. Aadpm8512G Shri Vijay N Mehta The Asst. Commissioner Of 13, 1St Floor, 338, Narshi Income Tax-17(3), Vs. Natha Street, Masjid Bunder Aayakar Bhavan, R.No. 137, (W), Mumbai-400 009 M.K Rd., Mumbai-400 020 Appellant .. Respondent

case are that the assessee is proprietor of Rajvi Chemical Corporation trading in chemicals and solvent. The AO received information from the investigation wing of the department that the assessee is one of the beneficiaries of the bogus purchases/ bogus bills with following 8 parties: - Sr. Name of the party

Vama International, Mumbai vs. ITO 21(3)(1), Mumbai

In the result, appeals of the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

assessee submitted that the Ld.CIT(A) agrees with the fact that the AO has merely relied upon the statement recorded by the Investigation wing and in-depth investigation was not carried out to the extent required. The Ld.CIT(A) ought to have made the investigation either ... treat the entire purchases made from it as bogus or non-genuine. The Assessing Officer has primarily relied on the conclusions drawn by the Investigation Wing on the basis of the statement given before the Income tax authorities and heavy reliance on such statement to treat entire purchases made from

Vama International, Mumbai vs. Asst CIT 21(3), Mumbai

In the result, appeals of the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

assessee submitted that the Ld.CIT(A) agrees with the fact that the AO has merely relied upon the statement recorded by the Investigation wing and in-depth investigation was not carried out to the extent required. The Ld.CIT(A) ought to have made the investigation either ... treat the entire purchases made from it as bogus or non-genuine. The Assessing Officer has primarily relied on the conclusions drawn by the Investigation Wing on the basis of the statement given before the Income tax authorities and heavy reliance on such statement to treat entire purchases made from

Vama International, Mumbai vs. Asst CIT 21(3), Mumbai

In the result, appeals of the assessee are allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

assessee submitted that the Ld.CIT(A) agrees with the fact that the AO has merely relied upon the statement recorded by the Investigation wing and in-depth investigation was not carried out to the extent required. The Ld.CIT(A) ought to have made the investigation either ... treat the entire purchases made from it as bogus or non-genuine. The Assessing Officer has primarily relied on the conclusions drawn by the Investigation Wing on the basis of the statement given before the Income tax authorities and heavy reliance on such statement to treat entire purchases made from

Nikhil R. Dharia, Mumbai vs. ACIT - 19(2), Mumbai

In the result, the appeal of assessee is partly allowed

Bench: Sri Mahavir Singhaayakr Apila Sam./ Ita No. 3717/Mum/2018 (Inaqa-Arna Baya- / Assessment Year 2010-11) Nikhil R. Dharia The Asst. Commissioner Of B-7, Utkarsh Tilak Nagar, V.P. Income Tax-19(2) Having Vs. Road, Mumbai -400 004 Address At Matru Mandir, Tardeo, Mumbai-400 007 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा िं./Pan No. Acrpj2592B अपीलाथी की ओर े / Appellant By : Shri Neha Paranjpe, Ar प्रत्यथी की ओर े / Respondent By : Shri Kailash Kanojiya, Dr ुनवाई की तारीख / Date Of Hearing: 12.02.2019 घोषणा की तारीख / Date Of Pronouncement : 12.02.2019 Aadosa / O R D E R

observing as under: - “4.5 It is an undisputed fact that the assessing officer identified party based on information received from Investigation Wing. On his part, the AO has also gone into the issue by sending 133(6) notices and deputing an inspector to serve the notices and make inquiries ... This is a case of manufacturer. The link between purchases and sales cannot be ascertained. The assessing officer has used the information received from investigation wing as starting point. However, the appellant is unable to discharge his onus of proving these purchases. I also do not find the contention reasonable