“investigation wing”

Shri Bindiya Ahuja, New Delhi vs. ITO, New Delhi

In the result, both the Assessee’s appeals are allowed

Bench: Shri H.S. Sidhu

independent conclusion that there was escapement of income. It was further stated that the case was reopened only on the basis of Investigation Wing information which suffers with serious debility and lacks definiteness, without describing the basic aspects of alleged transaction and in the absence of the same, whole action ... entries, which information was given to him by the Directorate of Investigation, the AO stated: "I have also perused various materials and report from Investigation Wing and on that basis it is evident that the assessee company has introduced its own unaccounted money in its bank account

ITO, New Delhi vs. Metro Decrotative Pvt Ltd, New Delhi

In the result, the appeal of the Revenue is dismissed

Bench: Shri H.S. Sidhua.Y. : 2005-06 Income Tax Officer, M/S Metro Decorative Pvt. Ward 16(4), New Delhi Vs. Ltd. Room No. 304, Cr Building, E-430, Greater Kailash-Ii, I.P. Estate, New Delhi New Delhi – 110048 (Pan (Appellant) (Respondent)

find that on legal issue i.e. quashing of assessment, the Ld. First Appellate Authority has observed that the information received from the Investigation Wing are scanty and inadequate to form a reasonable believe. Ld. CIT(A) has observed that at this stage and even during the assessment stage ... given by AO and the submission of the appellant are considered. The decision of the AO is based on the information received from the Investigation Wing, statement given by Auditor of M/s VPC Financial Pvt. Ltd., statement of General Manager Hindustan Times Group and submission made by the appellant

M/S. K.K. Arora & Sons (HUF), New Delhi vs. ACIT, New Delhi

In the result, all the 05 Appeals of the assesses stand allowed

Bench: Shri H.S. Sidhu

concern of this group. 4. This fact was confronted to Sh. S.K. Gupta who, vide his statement on 26.12.2008, has admitted as under:- "Q2 Investigation Wing of the Income Tax Department has reported that transaction undertaken through these companies were not genuine .. They were mere entries given for equivalent cash ... entries, which information was given to him by the Directorate of Investigation, the AO stated: "I have also perused various materials and report from Investigation Wing and on that basis it is evident that the assessee company has introduced its own unaccounted money in its bank account

M/S. Khatri Projects Pvt. Ltd., Delhi vs. ITO, Delhi

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

Bench: Sh. N. K. Sainiita No. 4353/Del/2016 : Asstt. Year : 2007-08 M/S Khatri Projects Pvt. Ltd., Vs Income Tax Officer, A-2/106, Sector-16, Rohini, Ward-5(2), Delhi-110085 Delhi (Appellant) (Respondent) Pan No. Aacck7376A Assessee By : Sh. Vivek Bansal, Adv. Revenue By : Sh. Rajesh Kumar, Sr. Dr Date Of Hearing : 19.10.2016 Date Of Pronouncement : 16.12.2016 Order This Is An Appeal By The Assessee Against The Order Dated 30.05.2016 Of Ld. Cit(A)-36, New Delhi.

file return of income under section 139(1) of the Act coupled with the fact that specific information was received with details from the investigation wing. 3. That on the fact and circumstances of the case Ld. CIT(A) has erred in law as much as in fact in holding ... initiation of reassessment proceedings can be substituted by non- filling of return under section 139(1) and the existence of details received from the Investigation Wing of the Department. 4. That on the fact and circumstances of the case Ld. CIT(A) has erred in law as much

M/S. Statcon Power Controls Limited, New Delhi vs. ITO, New Delhi

In the result, appeal of the assessee is allowed

Bench: Sh. N. K. Sainiita No. 5953/Del/2014 : Asstt. Year : 2005-06 M/S Statcon Power Controls Ltd., Vs Income Tax Officer, 19-E, Pocket-Ii, Kondli Gharoli-Ii, Ward-9(2), Mayur Vihar, Phase-Iii, New Delhi New Delhi-110092 (Appellant) (Respondent) Pan No. Aabcs1814N Assessee By : Sh. Anil Jain, Adv. Revenue By : Sh. F. R. Meena, Sr. Dr Date Of Hearing : 22.09.2016 Date Of Pronouncement : 16.12.2016 Order This Is An Appeal By The Assessee Against The Order Dated 04.09.2014 Of Ld. Cit(A)-Xii, New Delhi. 2. Following Grounds Have Been Raised In This Appeal: “1. The Ld. Cit(A) Has Erred In Confirming The Order Of The Ao In Making The Assessment At The Income Of Rs. 27,05,220 As Against The Returned Income Of Rs, 15,05,220. 2. The Ld Cit(A) Has Erred In Confirming The Order Of The Ld. Ao In Issuing Notice Under Section 148 & Subsequent Proceedings Thereafter Against The Appellant Company. 3. The Ld Cit(A) Has Erred In Confirming The Order Of The Ld. Ao In Treating The Investment By M/S Geecee Finance Limited In Shares Of The Appellant Company As An Accommodation Entry & Consequently Adding It Back To Income Of The Appellant Under Section 68 Of Income Tax Act,1961. 2 Statcon Power Controls Ltd. 4. The Order Of The Cit(A) Is Against Law & Facts Of The Case. 5. The Appellant Craves The Right To Add, Amend Or Withdraw Any Grounds Of Appeal At The Time Of Hearing.” 3. The Main Grievance Of The Assessee In This Appeal Relates To The Reopening The Assessment By Issuing Notice U/S 148 Of The Income Tax Act, 1961 (Hereinafter Referred To As The Act) & Making The Addition Of Rs.12,00,000/- U/S 68 Of The Act.

declaring an income of Rs.15,05,220/- which was processed u/s 143(1) of the Act. Subsequently, the AO received information from the Investigation Wing, Delhi that the assessee was one of the beneficiaries of the bogus/accommodation entries as detailed below: S. No. Value of entry taken Date on which ... appellant without proper application of his mind which is a mandatory requirement and has solely relied upon the information received from DIT (Investigation Wing), New Delhi, .As per the reasons supplied by the AO to the appellant he has mentioned that an information regarding entry operators and their beneficiaries

M/S. Mahanivesh (India) Pvt. Ltd., New Delhi vs. ITO, New Delhi

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

providing entries of share capital, loans etc. and that a search and seizure operation u/s 132 of the Act was carried out by Investigation Wing of the Income Tax Department on 15.09.2008 at the business premises of Sh. Tarun Goyal Group of cases. He further observed that Sh. Tarun Goyal ... given by the AO and the submission of the appellant are considered. As noted by AO in the assessment order and established by the Investigation Wing of the Department, during the search and seizure operation, the appellant belongs to a group of company involved in providing accommodation entries. Thus, transactions

M/S. M.D.Packaging Ltd., New Delhi vs. ITO, New Delhi

The appeal of the assessee is partly allowed

Bench: Sh Sudhanshu Srivastava & Shri Prashant Maharishimd Packaging Ltd, Ito, C/O. Sp Jain & Associates, Ward-6(1), Vs. U-17(Lgf), Green Park New Delhi (Extension), New Delhi Pan:Aabcm8236E (Appellant) (Respondent)

reopening of the assessment completed beyond 4 years but within 6 years at Page 21 and 22 of the PB are as under:- “The investigation wing of the Income Tax Department had unearthed a huge money laundering mechanism wherein it was established that bogus accommodation entries were being provided/taken. These ... which information was given to him by the Directorate of Investigation, the Assessing Officer stated : "I have also perused various materials and report from Investigation Wing and on that basis it is evident that the assessee company has introduced its own unaccounted money in its bank account

M/S. Civitech Housing India (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, ground No. 2 of the appeal of the assessee is allowed with above direction

Bench: Smt Diva Singh & Shri Prashant Maharishicivitech Housing India P Ltd, 65, Dcit, Central Circle-3, Room No. 356, 3Rd Shrestha Vihar, New Delhi 110092 Vs. Pan:Aabcc1465B Floor, E-2, Ara Centre, Jhandewalan Extn., New Delhi (Appellant) (Respondent)

erred in law and on facts in holding that (a) there was sufficient material with the Assessing Officer in the form of report of Investigation Wing, so as to record "reason to believe" that any income chargeable to tax has escaped assessment; and (b) as the Assessing Officer has discussed ... subject to assessment u/s 143(3) vide order dated 26 December 2008. Subsequently on receipt of report from the office of Income Tax (Investigation) wing , New Delhi about accommodation entries given by entry operators pursuant to search u/s 132 of the Act at the office of one Chartered Accountant Shri

ITO, New Delhi vs. M/S. Prakash Colour (P) Ltd., New Delhi

In the result, the appeal of the department is dismissed

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 1176/Del/2011 : Asstt. Year : 2007-08 Income Tax Officer, Vs M/S Prakash Colour (P) Ltd., 15A, 2Nd Floor, Sri Nagar Colony, Ward-14(3), New Delhi Near Bharat Nagar, New Delhi (Appellant) (Respondent) Pan No. Aaacp5463B Assessee By : Sh. Ved Jain, Adv., Sh. Ashish Chadha & P. Srivastava, Cas Revenue By : Sh. F. R. Meena, Sr. Dr Date Of Hearing : 29.09.2016 Date Of Pronouncement : 16.12.2016 Order Per N. K. Saini, Am: This Is An Appeal By The Department Against The Order Dated 01.12.2010 Of Ld. Cit(A)-Xvii, New Delhi.

assessee vide letter dated 09.12.2009 asked for the certified copy of statement of Mr. Tarun Goyal recorded by the 3 Prakash Colour (P) Ltd. Investigation Wing of the Income Tax Department and that Mr. Tarun Goyal may be recalled for cross-examination by the assessee. The AO informed the assessee ... papers/documents with the confirmation submitted are still hold good and nothing was misstated or concealed together with denial of the charges made by the Investigation Wing: 6 Prakash Colour (P) Ltd. (a) Campri Fiscal Services (P) Ltd. (b) Corporate Finlease (P) Ltd. (c) Sadguru Finman (P) Ltd. (d) Taurus Iron

M/S. Standard Watch Co. (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal filed by the Assessee stands allowed

Bench: Shri H.S. Sidhu & Shri O.P. Kant

that the Assessing Officer initiated reopening proceedings under sec. 147 of the Income-tax Act, 1961 on the basis of information received from the Investigation Wing of the Department that the assessee was a beneficiary of accommodation entries received from Shri Dina Nath Luhariwala Spinning Mills Pvt. Ltd. Notice under ... framed under sec. 143(3) of the Act and reopening proceedings has been initiated by the Assessing Officer on 3 receipt of information from Investigation Wing of the Department making the vague allegations that the assessee was a beneficiary of accommodation entry received from Shri Dina Nath Luhariwala Spinning Mills

M/S. Mehta Realtors Pvt. Ltd., New Delhi vs. ITO, New Delhi

In the result, the appeal of the assessee is allowed

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

Rs.40,000/- u/s. 69C of the IT Act. The reopening of the case was made on the basis of information received from the Investigation Wing of the Department that during the previous year the assessee company was in receipt of accommodation entries of Rs.20,00,000/- Notice ... based on any tangible material in possession of the AO. The very foundation of the belief of escapement is the information received from the investigation wing and the AO has not applied his mind to any independent material in his possession before forming the belief of escapement of income