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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

Dinesh H. Kotadia, Mumbai vs. Asst CIT Cen Cir 35, Mumbai

In the result appeal filed by the assessee for A

ITA 2820/MUM/2015[2004-05]Status: DisposedITAT Mumbai19 Oct 2016AY 2004-05

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm)

For Appellant: Shri. BeharilalFor Respondent: Shri. Nitin Waghmode
Section 132Section 143(3)Section 153Section 153ASection 271Section 271(1)(c)

Kotadia, Surendra Kotadia, Dinesh Kotadia and Rajesh Kotadia, directors of M/s. Dimple Drums & Barrels Pvt Ltd., filed a common letter dated 24/06/2008 before the investigation Wing of the income tax department admitting an undisclosed income of Rs. 5 crores. 3. Accordingly notice u/s 153A of the I.T. Act was issued

Dinesh H. Kotadia, Mumbai vs. Asst CIT Cen Cir 35, Mumbai

In the result appeal filed by the assessee for A

ITA 2819/MUM/2015[2003-04]Status: DisposedITAT Mumbai19 Oct 2016AY 2003-04

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm)

For Appellant: Shri. BeharilalFor Respondent: Shri. Nitin Waghmode
Section 132Section 143(3)Section 153Section 153ASection 271Section 271(1)(c)

Kotadia, Surendra Kotadia, Dinesh Kotadia and Rajesh Kotadia, directors of M/s. Dimple Drums & Barrels Pvt Ltd., filed a common letter dated 24/06/2008 before the investigation Wing of the income tax department admitting an undisclosed income of Rs. 5 crores. 3. Accordingly notice u/s 153A of the I.T. Act was issued

Sh. Sanjay Gupta, New Delhi vs. ITO, New Delhi

In the result, the appeal of the Assessee is allowed

ITA 3566/DEL/2016[2006-07]Status: DisposedITAT Delhi17 Oct 2016AY 2006-07

Bench: Shri H.S. Sidhu

For Appellant: Sh. V.K. SABHARWAL, ADVFor Respondent: None
Section 143(1)Section 143(2)Section 143(3)Section 148

with whom the assessee had entered into transaction. Both the orders clearly exposit that the AO was made aware of the situation by the Investigation Wing and there is no mention that these companies are fictitious companies. Neither the reasons in the initial notice nor the communication providing reasons remotely

Sh. Satya Sheel Gupta, New Delhi vs. ITO, New Delhi

In the result, the appeal of the Assessee is allowed

ITA 2886/DEL/2016[2006-07]Status: DisposedITAT Delhi17 Oct 2016AY 2006-07

Bench: Shri H.S. Sidhu

For Appellant: Sh. RS Singhvi, CAFor Respondent: Sh. Anil Sharma, Sr. DR
Section 142(1)Section 143(2)Section 147Section 148Section 151(2)Section 68

with whom the assessee had entered into transaction. Both the orders clearly exposit that the AO was made aware of the situation by the Investigation Wing and there is no mention that these companies are fictitious companies. Neither the reasons in the initial notice nor the communication 14 providing reasons

D.N. Dalal HUF, Mumbai vs. Asst CIT 16(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 1640/MUM/2011[2005-06]Status: DisposedITAT Mumbai14 Oct 2016AY 2005-06

Bench: Shri Mahavir Singh, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.1640/Mum/2011 (ननधधारण वषा / Assessment Years : 2005-06) Shri D N Dalal, Huf, बनधम/ The Asstt. Commissioner Of 120/123 Arun Chamber, Income Tax. 16(1), Vs. Tardeo Road, Matru Mandir, Tardeo Road, Mumbai-400 034 Mumbai-400 007 स्थधयी ऱेखध सं./ Pan :Aaahd1795F अपीऱार्थी ओर से / Assessee By Shri Vijay Mehta प्रत्यर्थी की ओर से/Revenue By Shri Vijay Kumar Bora सुनवाई की तारीख / Date Of Hearing : 8.9.2016 घोषणा की तारीख /Date Of Pronouncement :14.10.2016 आदेश / O R D E R Per Rajesh Kumar, Am This Is An Appeal Filed By The Assessee Challenging The Order Dated 6.12.2010 Passed By The Ld.Cit(A)-27, Mumbai Confirming The Action Of Ao In Imposing The Penalty U/S 271(1)( C) Of The Income Tax Act, 1961 Which Pertains To Assessment Year 2005-06. 2. The Issue Raised In Grounds Of Appeal No.1 & 2 Is With Respect To Confirmation Of Penalty As Imposed By The Ao Under Section 271(1)( C ) Of The Act.

Section 133ASection 143(3)Section 271(1)

income received as income which came to the light of department only during the course of survey conducted u/s 133A of the Act by Investigation Wing on 24.10.2005 and accordingly levied penalty of Rs.74,898/- u/s 271(1)( c) of the Act at the rate

Uday Salvi, Mumbai vs. ITO 18(1)(3), Mumbai

In the result, the assessee’s appeal is dismissed

ITA 1300/MUM/2011[2006-07]Status: DisposedITAT Mumbai07 Oct 2016AY 2006-07

Bench: Shri Jason P. Boaz, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./ I.T.A. No. 1300/Mum/2011 ("नधा"रण वष" / Assessment Year: 2006-07) Ito 18(1)(3), 1St Floor, Shri Uday A Salvi 4/162 Ambedkar Nagar Chs Piramal Chambers, Lalbaug, बनाम/ Bhagoji Wagmare Road, Mumbai-400 012. Vs. Worli, Mumbai-400 018. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaeps 0346T (अपीलाथ" /Appellant) (""यथ" / Respondent) :

For Appellant: Shri V.K. Bora
Section 143(3)Section 148

proprietary concern in the name and style of “Shreeram Video Channel” of providing cable connections. In the course of investigation made by the Investigation Wing Unit-I, Mumbai, it was noticed that the assessee was charging Rs.250/- from the subscribers, whereas the assessee has shown Rs.210/- per connection per month ... table provided at page no.3. It was further submitted that the additions was made by revenue authorities apparently on the information received from the Investigation Wing without providing opportunity of cross examination to the assessee. Ld. AR also drew our attention to the paper book more particularly at page no.8

M/S. Shruti Fastners Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 1946/DEL/2013[2004-05]Status: DisposedITAT Delhi07 Oct 2016AY 2004-05

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

For Appellant: Dr. Rakesh Gupta, Adv. & Sh. Somil Aggarwal, AdvFor Respondent: Shri NK Bansal, Sr. DR
Section 142(1)Section 143(2)Section 147Section 148Section 151Section 234Section 68

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

M/S. Shruti Fastners Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 1945/DEL/2013[2003-04]Status: DisposedITAT Delhi07 Oct 2016AY 2003-04

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

For Appellant: Dr. Rakesh Gupta, Adv. & Sh. Somil Aggarwal, AdvFor Respondent: Shri NK Bansal, Sr. DR
Section 142(1)Section 143(2)Section 147Section 148Section 151Section 234Section 68

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

Mrs. Sonia Chowdhary, New Delhi vs. ITO, New Delhi

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

ITA 2037/DEL/2010[2003-04]Status: DisposedITAT Delhi07 Oct 2016AY 2003-04

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

For Appellant: Sh. Salil Kapoor, AdvFor Respondent: Sh. Satpal Gulati, CIT(DR)
Section 147Section 148Section 234B

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

Mrs. Sonia Chowdhary, New Delhi vs. ITO, New Delhi

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

ITA 2036/DEL/2010[2002-03]Status: DisposedITAT Delhi07 Oct 2016AY 2002-03

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

For Appellant: Sh. Salil Kapoor, AdvFor Respondent: Sh. Satpal Gulati, CIT(DR)
Section 147Section 148Section 234B

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

M/S. Positive Move India Consulting Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is dismissed

ITA 2470/DEL/2014[2005-06]Status: DisposedITAT Delhi06 Oct 2016AY 2005-06

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2005-06 Vs. Dcit, Circle-14(1), New Delhi M/S. Positive Move India Consulting Pvt. Ltd., 105A, Indraprakash Building, 21, Barakhamba Road, New Delhi Pan : Aaacl0399Q (Appellant) (Respondent) Appellant By Sh. P.J. Khanna, Ca Respondent By Sh. F.R. Meena, Sr.Dr Date Of Hearing 11.08.2016 Date Of Pronouncement 06.10.2016 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against Order Dated 30/01/2014 Passed By The Learned Commissioner Of Income-Tax (Appeals)-Xvii, Delhi, For Assessment Year 2005-06 Raising The Solitary Ground As Under: “On The Facts & In The Circumstances Of The Case The Appellate Authority Has Erred In Confirming The Disallowance Rs.1,06,64,354/- Out Of Head Commission & Rs.2,66,609/- On Account Of Incidental Expenses Incurred Thereto.”

Section 131Section 143(2)Section 147Section 148

letterhead of those companies. (ii) that copy of bills issued by those companies to the assessee company were also seized by the investigation wing in the course of search proceeding and the seized copy of bills were undated, whereas the copy of bills submitted by the assessee before the Assessing

M/S. Hasanpur Cold Storage Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the Assessee’s Appeal stands allowed

ITA 6299/DEL/2015[2005-06]Status: DisposedITAT Delhi04 Oct 2016AY 2005-06

Bench: Shri H.S. Sidhu

For Appellant: Shri Ved Jain, Adv. & Sh. PranjalFor Respondent: None
Section 143(1)Section 147Section 148Section 251Section 68

Subsequently, proceedings u/s. 147 of the I.T. Act were initiated by recording reasons on the basis of information received from the Investigation Wing of the Department vide letter dated 31.3.2009 from Addl. DIT (Inv.) Unit-IV, New Delhi that the assessee is also a beneficiary of taking accommodation entry ... money/share capital/share premium from M/s Taurus Iron & Steel Co. Pvt. Ltd., an entity of Shrl Tarun Goyal, an entry provider as unveiled by the Investigation Wing of the Department. Consequently, notice u/s 148 was issued by AO on 26.03.2012 after recording the reasons u/s 147 of the Act. However

Ashok Kumar Aggarwal, New Delhi vs. ITO, Faridabad

In the result the appeal of the assessee is allowed

ITA 2520/DEL/2015[2005-06]Status: DisposedITAT Delhi04 Oct 2016AY 2005-06

Bench: Shri H.S. Sidhuay: 2005-06

For Appellant: Shri Raj Kumar, C.AFor Respondent: Shri Amrit Lal, Sr. DR
Section 10Section 147Section 148Section 151

assessee, and the Assessing Officer has initiated the reopening proceedings without examining even prima facie the correctness of information received from the Investigation Wing of the Department wherein it was informed that as per the statement of Shri Mahesh Garg recorded by them, there was escapement of assessable income ... approval under Sec. 151 was recorded as "approved" and there also the reopening proceedings were initiated en the basis of information received from the Investigation Wing of the Department and the same Mr. Mahesh Garg was involved, the issue raised before the Delhi Bench of the ITAT

Ajay Kumar Gupta, New Delhi vs. ITO, Faridabad

In the result the appeal of the assessee is allowed

ITA 2519/DEL/2015[2005-06]Status: DisposedITAT Delhi04 Oct 2016AY 2005-06

Bench: Shri H.S. Sidhuay: 2005-06

For Appellant: Shri Raj Kumar, C.AFor Respondent: Shri Amrit Lal, Sr. DR
Section 10Section 147Section 148Section 151

assessee, and the Assessing Officer has initiated the reopening proceedings without examining even prima facie the correctness of information received from the Investigation Wing of the Department wherein it was informed that as per the statement of Shri Mahesh Garg recorded by them, there was escapement of assessable income ... approval under Sec. 151 was recorded as "approved" and there also the reopening proceedings were initiated en the basis of information received from the Investigation Wing of the Department and the same Mr. Mahesh Garg was involved, the issue raised before the Delhi Bench of the ITAT

M/S. Welco Sanitation Pvt. Ltd., New Delhi vs. ITO, New Delhi

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

ITA 4882/DEL/2015[2008-09]Status: DisposedITAT Delhi30 Sept 2016AY 2008-09

Bench: Smt Diva Singh

Section 133Section 143(1)Section 148

mentioned above i.e. 24.01.2014." 3. The assessee in response thereto as per the assessment order sought a copy of the statement recorded by the Investigation Wing. It was submitted on behalf of the assessee as per letter dated 30.01.2014 that Sh. Rakesh Gupta has admitted that only

ITO, New Delhi vs. M/S Rose Advertising P. Ltd., Delhi

In the result this appeal of the Revenue stands dismissed

ITA 2827/DEL/2013[2008-09]Status: DisposedITAT Delhi30 Sept 2016AY 2008-09

Bench: Shri J. Sudhakar Reddy & Shri Kuldip Singhay: 2008-09 Rose Advertising (P) Ltd. Vs. Ito, Ward 15(4) Cd 12, Vishaka Enclave New Delhi Pitampura New Delhi 110 088 Pan: Aaacr 1077 M Ay: 2008-09 Ito Ward 15(4) Vs. Rose Advertising P.Ltd. New Delhi Cd 12, Pitampura Vishakha Enclave Delhi 110 034 A.Y: 2009-10 Rose Advertising (P) Ltd. Vs. Ito, Ward 15(4) New Delhi New Delhi & Ay: 2009-10 Ito, Ward 15(4), N.Del. Vs. Rose Advtg. P.Ltd., N.Del.

For Appellant: Sh. Ved Jain, AdvFor Respondent: Sh. F.R.Meena, Sr.D.R
Section 143(3)

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. 55,50,000/- received by the assessee are treated as an unexplained cash credit in the hands

Rose Advertising Pvt. Ltd., New Delhi vs. ITO, New Delhi

In the result this appeal of the Revenue stands dismissed

ITA 2293/DEL/2013[2008-09]Status: DisposedITAT Delhi30 Sept 2016AY 2008-09

Bench: Shri J. Sudhakar Reddy & Shri Kuldip Singhay: 2008-09 Rose Advertising (P) Ltd. Vs. Ito, Ward 15(4) Cd 12, Vishaka Enclave New Delhi Pitampura New Delhi 110 088 Pan: Aaacr 1077 M Ay: 2008-09 Ito Ward 15(4) Vs. Rose Advertising P.Ltd. New Delhi Cd 12, Pitampura Vishakha Enclave Delhi 110 034 A.Y: 2009-10 Rose Advertising (P) Ltd. Vs. Ito, Ward 15(4) New Delhi New Delhi & Ay: 2009-10 Ito, Ward 15(4), N.Del. Vs. Rose Advtg. P.Ltd., N.Del.

For Appellant: Sh. Ved Jain, AdvFor Respondent: Sh. F.R.Meena, Sr.D.R
Section 143(3)

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. 55,50,000/- received by the assessee are treated as an unexplained cash credit in the hands

Jai Hind Paper Mart, Mumbai vs. ITO 14(2)(3), Mumbai

In the result, both the appeals of assessee and revenue are dismissed

ITA 6134/MUM/2014[2009-10]Status: DisposedITAT Mumbai28 Sept 2016AY 2009-10

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./I.T.A. No.6134 /Mum/2014 (निर्धारण वषा / Assessment Year: 2009-10) M/S. Jai Hind Paper Mart Income Tax Officer 14(2)(3), 3Rd Floor, Earnest House 186, Hiramanek Bldg, बिधम/ Dadiseth Agiary Lane, Nariman Point, Vs. Chira Bazar, Mumbai-400 021. Mumbai-400 002. स्थामी रेखा सं./जीआइआय सं ./Pan/Gir No. Aaafj3532E (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : आमकय अऩीर सं./I.T.A. No.6144 /Mum/2014 (निर्धारण वषा / Assessment Year: 2009-10) Income Tax Officer 14(2)(3), M/S. Jai Hind Paper Mart 3Rd Floor, Earnest House 186, Hiramanek Bldg, बिधम/ Nariman Point, Dadiseth Agiary Lane, Vs. Mumbai-400 021. Chira Bazar, Mumbai-400 002. स्थामी रेखा सं./जीआइआय सं ./Pan/Gir No. Aaafj3532E (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Ratan Samul प्रत्मथी की ओय से/Respondent By : Shri K. Ravi Kiran

For Appellant: Shri Ratan SamulFor Respondent: Shri K. Ravi Kiran
Section 143(1)Section 148

income of Rs.5,90,910/-. The return was processed u/s 143(1). The case was re- opened on the basis of information received from investigation wing based on the investigation carried out by Sales Tax Authorities. The Sales Tax Authorities had identified bogus billers/accommodation entry providers and recorded their statements ... case. On careful examination of the same, I observe as under: (i) The addition has been made on the basis of information received from Investigation wing based on the investigation carried out by the Sales Tax Authorities. The notices issued u1s133(6) could not be served to the two parties

M/S. M.M. Impex, Delhi vs. ITO, New Delhi

In the result I delete these additions and allow this appeal of the assessee

ITA 1186/DEL/2016[2006-07]Status: DisposedITAT Delhi28 Sept 2016AY 2006-07

Bench: Shri J. Sudhakar Reddyay: 2006-07 Mm Impex Vs. Ito, Ward 20(3) E 10, Cc Colony New Delhi Delhi 110 007 Pan: Aadgm 0316 C (Appellant) (Respondent) Appellant By : Sh. Raj Kumar Gupta, C.A. Respondent By : Sh. Anil Sharma, Sr.D.R

For Appellant: Sh. Raj Kumar Gupta, C.AFor Respondent: Sh. Anil Sharma, Sr.D.R
Section 148Section 151

examination not provided. He challenged the reopening on the ground that the AO has not applied his mind to the information received from the investigation wing. He challenged the approval given by the Additional Commissioner under section 151 of the Act as without application of mind. He prayed for relief

Sh. Manju Agarwal, New Delhi vs. ITO, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2324/DEL/2014[2004-05]Status: DisposedITAT Delhi28 Sept 2016AY 2004-05

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2004-05 Ms. Manju Agarwal, 14B/23, Vs. Income Tax Officer, Ward- 1St Floor, Dev Nagar, Karol 33(1), New Delhi Bagh, New Delhi Pan : Adrpa7112P (Appellant) (Respondent) Appellant By Sh. Deepak Ostwal, Ca Respondent By Sh. Surender Pal, Sr. Dr Date Of Hearing 20.07.2016 Date Of Pronouncement 28.09.2016 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against Order Dated 02/01/2014 Of Learned Commissioner Of Income-Tax (Appeals)-Xxviii, New Delhi For Assessment Year 2004-05 Raising Following Grounds: I. On Facts & In Circumstances Of The Case, Cit (A) Has Erred Both On Facts & In Law, In Upholding Illegal Action Of Re-Assessment & Assumption Of Jurisdiction By The Respondent Without Issue/Service Of Notice U/S 148 & Without Recording The Reasons For Reopening The Assessment. Therefore, Impugned Assessment Order Is Liable To Be Quashed As Unsustainable, Both On Facts & In Law.

Section 143(2)Section 147Section 148Section 68

appeal to be allowed after hearing both side. 2. The facts in brief of the case are that on receipt of information from the Investigation Wing that the assessee was a beneficiary of accommodation entries, a notice under section 148 of the Income-tax Act, 1961 (in short ... thereof. The proceedings under section 147 against the appellant, as per the assessment order were initiated on the basis of information received from the Investigation Wing that the assessee was beneficiary of Accommodation Entries from certain Entry Operator identified by the Wing. The appellant during the appellate proceedings has objected