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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 17(2)(4), Mumbai vs. Saryubala H Shah, Mumbai

In the result, appeal of the revenue stands dismissed and Cross Objection of the assessee stands allowed

ITA 3905/MUM/2012[2004-05]Status: DisposedITAT Mumbai10 Nov 2015AY 2004-05

Bench: Shri Amit Shukla & Shri Ramit Kochar

For Respondent: Shri Sanjay R Parikh
Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 54ESection 68

assessee was also one of the beneficiaries as it has transacted with these companies and his name appears in the list forwarded by Investigation Wing informing that, assessee too have obtained bogus entries worth Rs. 12,95,345/- through M/s Goldstar Finvest Pvt Ltd & M/s Mahasagar Securities ... Mahasagar Securities Pvt Ltd in June 2003 was a bogus transaction or was an accommodation entry. If the AO has received certain information from investigation wing then, it was incumbent upon him to apply his mind and peruse the assessee’s assessment record to see, whether the transactions undertaken

ITO 17(2)(4), Mumbai vs. Hasumukh J Shah, Mumbai

In the result, appeal of the revenue stands dismissed and Cross Objection of the assessee stands allowed

ITA 3904/MUM/2012[2004-05]Status: DisposedITAT Mumbai10 Nov 2015AY 2004-05

Bench: Shri Amit Shukla & Shri Ramit Kochar

For Respondent: Shri Sanjay R Parikh
Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 54ESection 68

assessee was also one of the beneficiaries as it has transacted with these companies and his name appears in the list forwarded by Investigation Wing informing that, assessee too have obtained bogus entries worth Rs. 12,95,345/- through M/s Goldstar Finvest Pvt Ltd & M/s Mahasagar Securities ... Mahasagar Securities Pvt Ltd in June 2003 was a bogus transaction or was an accommodation entry. If the AO has received certain information from investigation wing then, it was incumbent upon him to apply his mind and peruse the assessee’s assessment record to see, whether the transactions undertaken

Goel Wax (P) Ltd., New Delhi vs. ITO, New Delhi

In the result the appeal of the assessee is allowed

ITA 2624/DEL/2015[2003-04]Status: DisposedITAT Delhi06 Nov 2015AY 2003-04

Bench: Shri J. Sudhakar Reddyay: 2003-04 Goel Wax P Ltd. Vs. Ito, Ward 12(2) C/O Raj Kumar & Associates, Cas New Delhi L 7 A, South Ex Part 2 New Delhi 110 049 Pan: Aaacgo 121 F (Appellant) (Respondent)

For Appellant: Shri Raj Kumar, C.A. and Sh. Sumit Goel, C.AFor Respondent: Sh. MK Jain, Sr.D.R
Section 147Section 148Section 151Section 234

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 ITA No. 2624/Del/2015 A.Y. 2003-04 Goel Wax P.Ltd., New Delhi ... 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

Anjali Gupta, New Delhi vs. ITO, Faridabad

In the result the appeal of the assessee is allowed

ITA 2521/DEL/2015[2005-06]Status: DisposedITAT Delhi06 Nov 2015AY 2005-06

Bench: Shri J. Sudhakar Reddyay: 2005-06 Anjali Gupta Vs. Ito, Ward 1(3) C/O Raj Kumar & Associates, Cas Faridabad L 7 A South Ex Part 2 New Delhi 110 049 Pan: Abzpg 7500 P (Appellant) (Respondent)

For Appellant: Shri Raj Kumar, C.A. and Sh. Sumit Goel, C.AFor Respondent: Sh. MK Jain, Sr.D.R
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

ITO, New Delhi vs. M/S. Integrated Infosoft Pvt. Ltd., New Delhi

Accordingly. Hence, the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 6145/DEL/2013[2004-05]Status: DisposedITAT Delhi06 Nov 2015AY 2004-05

Bench: Smt. Diva Singh & Shri Inturi Rama Raoassessment Year: 2004-05 Income Tax Officer, Vs. M/S Integrated Infosoft Pvt. Ltd., Ward 11(4), New Delhi 14, Sainik Farms, Khanpur, New Delhi (Pan: Aaacm8067A) (Appellant) (Respondent) & C.O. No. 134/Del/2014 (In Ita No. 6145/Del/2013) Assessment Year: 2004-05 Integrated Infosoft Pvt. Ltd. Vs. Income Tax Officer, 14, Sainik Farms, Khanpur, Ward-11(4), New Delhi New Delhi (Pan: Aaacm8067A) (Appellant) (Respondent) Department By : Ms. Priyanka Singh, Sr. Dr Assessee By : Sh. G.N. Gupta Date Of Hearing: 15.10.2015 Date Of Pronouncement: 06.11.2015 Order Per Inturi Rama Rao, A.M.: The Present Appeal Filed By The Revenue Is Directed Against The Order Of Learned Cit(A), Dated 30.09.2013 Passed For The Assessment Year 2004-05. Cross Objections Have Also Been Filed By The Assessee In The Present Appeal. The Revenue Raised The Following Grounds Of Appeal:

For Appellant: Sh. G.N. GuptaFor Respondent: Ms. Priyanka Singh, Sr. DR
Section 143(1)Section 148Section 68

capital consideration in the form of commission, the assessee company had not discharged its initial onus lying upon it, nor rebutted the report of Investigation Wing. Further, we find from the order of the CIT(A) that certain additional evidences/details were filed by way of paper book and there ... statistical purposes. 5 C.O. No. 134/Del/2014 (In ITA No. 6145/Del/2013) 6. We are of the considered opinion that the information received from the Investigation Wing of the Department enabled the Assessing Officer to form an opinion that the income chargeable to tax had escaped assessment. It is trite law that

ACIT, New Delhi vs. M/S Tarun International Ltd., New Delhi

In the result, the appeal of the department is dismissed

ITA 5136/DEL/2012[2009-10]Status: DisposedITAT Delhi05 Nov 2015AY 2009-10

Bench: Sh. N. K. Saini, Am & Smt. Beena A. Pillai, Jm Ita Nos. 5136/Del/2012 : Asstt. Year : 2009-10 Asstt. Commissioner Of Income Vs M/S Tarun International Ltd., Tax, Circle-16(1), 5037, Excelsior Cinema, New Delhi Street Sirikiwalan, Chandni Chowk, Delhi-110006 (Appellant) (Respondent) Pan No. Aaact2713N Assessee By : Sh. Amit Goel, Ca Revenue By : Sh. J. P. Chandrakar, Sr. Dr Date Of Hearing : 03.09.2015 Date Of Pronouncement : 05.11.2015 Order Per N. K. Saini, Am:

For Appellant: Sh. Amit Goel, CAFor Respondent: Sh. J. P. Chandrakar, Sr. DR
Section 143(3)Section 147Section 148Section 151Section 68

5136/Del/2012 3 Tarun International Ltd. The said amount has been credited into assessee’s bank account. Investment made by the investigation wing, New Delhi has found that the assessee is a beneficiary of taking aforesaid accommodation entries. I have also perused various materials and report from investigation wing

Wilful Finance & Investment Co. Pvt. Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 2584/DEL/2015[2005-06]Status: DisposedITAT Delhi04 Nov 2015AY 2005-06

Bench: Shri H.S. Sidhua.Y. : 2005-06 M/S Wilful Finance & Investment Vs. Dcit, Circle 18(1), Co. Pvt. Ltd., New Delhi K-7B, Ground Floor, Kalkaji, New Delhi – 110 019 (Pan : Aaacw0280H) (Appellant) (Respondent) Assessee By : Sh. Rajesh Dureja, Adv. Department By : Ms. Garima Jain, Sr. Dr

For Appellant: Sh. Rajesh Dureja, AdvFor Respondent: Ms. Garima Jain, Sr. DR
Section 143(3)Section 147Section 148

that certain income has escaped assessment. 8. That the re-opening is void as it was solely on the basis of information received from Investigation wing & without any independent application of mind by the AO." It is, therefore, requested that the above additional grounds of appeal may kindly be admitted

M/S. Paramount Intercontinental Pvt. Ltd., Delhi vs. ITO, New Delhi

In the result, Ground No.1 of the assessee is dismissed

ITA 6135/DEL/2013[2001-02]Status: DisposedITAT Delhi04 Nov 2015AY 2001-02

Bench: Shri J. Sudhakar Reddyassessment Year : 2001-02

For Appellant: Shri Gurmeet Singh, CAFor Respondent: Shri Raman Kant Garg, Sr. DR
Section 131Section 143(3)Section 143(3)(ii)Section 147Section 148Section 68

evident from the reasons recorded; c) There is no tangible material; and d) Notice has been issued based on the information received from the Investigation Wing of the Department. 4. He relied on the following case laws:- i) 85CCH 040 (Delhi High Court ... relied on page 9, para 6 of the ld.CIT(A)’s order and submitted that the AO, on receipt of tangible material from the Investigation Wing, has independently examined the same and, after application of mind, arrived at a conclusion that income has escaped assessment. Thus, he submits that

ITO 19(3)(3), Mumbai vs. Parvez Mohammed Hussion Ghaswala, Mumbai

In the result, both the appeals are dismissed

ITA 3318/MUM/2013[2004-05]Status: DisposedITAT Mumbai30 Oct 2015AY 2004-05

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Ramit Kochar, Am

For Appellant: Shri C.W.. AngolkarFor Respondent: & Ms. Aasifa Khan
Section 69A

than Shri. Parvez M. H. Ghaswala, who has received an amount of Rs. 2,62,40,000/- c) The material evidence procured by the Investigation wing during the course of survey and also the facts discussed by the Assessing Officer in the assessment order. d) The assessee failed to discharge

ITO WD 19(3)(3), Mumbai vs. Parvez Mohammed Hussain Ghaswala, Mumbai

In the result, both the appeals are dismissed

ITA 819/MUM/2012[2007-08]Status: DisposedITAT Mumbai30 Oct 2015AY 2007-08

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Ramit Kochar, Am

For Appellant: Shri C.W.. AngolkarFor Respondent: & Ms. Aasifa Khan
Section 69A

than Shri. Parvez M. H. Ghaswala, who has received an amount of Rs. 2,62,40,000/- c) The material evidence procured by the Investigation wing during the course of survey and also the facts discussed by the Assessing Officer in the assessment order. d) The assessee failed to discharge

Jyotsna Sukumar, Delhi vs. ITO, New Delhi

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

ITA 4065/DEL/2015[2009-10]Status: DisposedITAT Delhi30 Oct 2015AY 2009-10

Bench: Shri J. Sudhakar Reddy

For Appellant: Shri Tarun Rohatgi, CAFor Respondent: Mrs. Rakhi Vimal, JCIT
Section 143(3)Section 148Section 68

assessment are as follows:- “ As requested, the reasons for re-opening the case are reproduced as under:- “ An information has been received from the Investigation Wing, New Delhi through ITO, Ward-32(2), New Delhi that Ms Jyotsna Sukumar, Prop., Bureau of International Conference Services (PAN – AMHPS4797H) has taken accommodation ... 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 http://www.itatonline.org ITA No. 545/2015 Page

Jyotsna Sukumar, Delhi vs. ITO, New Delhi

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

ITA 4064/DEL/2015[2006-07]Status: DisposedITAT Delhi30 Oct 2015AY 2006-07

Bench: Shri J. Sudhakar Reddy

For Appellant: Shri Tarun Rohatgi, CAFor Respondent: Mrs. Rakhi Vimal, JCIT
Section 143(3)Section 148Section 68

assessment are as follows:- “ As requested, the reasons for re-opening the case are reproduced as under:- “ An information has been received from the Investigation Wing, New Delhi through ITO, Ward-32(2), New Delhi that Ms Jyotsna Sukumar, Prop., Bureau of International Conference Services (PAN – AMHPS4797H) has taken accommodation ... 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 http://www.itatonline.org ITA No. 545/2015 Page

M/S. Ghaziabad Ispat Udyog Ltd., Ghaziabad vs. DCIT, Ghaziabad

In the result, the appeal of the assessee is allowed

ITA 2436/DEL/2015[2010-11]Status: DisposedITAT Delhi30 Oct 2015AY 2010-11

Bench: Shri I.C. Sudhirshri L.P. Sahu

For Appellant: Shri Rakesh Gupta, AdvFor Respondent: Shri P. Dam Kanunjna, Sr. DR
Section 143(3)Section 234BSection 68

those four companies three companies were having same address and address of other directors were also common. The AO further noted that Investigation Wing of the department has also enquired and established that these companies were paper/dummy companies created by Shri Deepak Jain, a well known entrepreneur. Noting these facts

Pr. Commissioner of Income Tax-(Central-2) vs. Victoria Marketing Pvt. Ltd

ITA/825/2015HC Delhi30 Oct 2015

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

this case a survey operation U/S 133A has been conducted by the Investigation Wing, New Delhi on 12.12.2013. During the course of survey conducted at the premises of the assessee company M/s Sabharwal Apartment Pvt. Ltd (SAPL) & Sabharwal Properties Ind. Pvt. Ltd. (SPIPL) were alleged to have shown unsecured loans ... above the par value of Rs.10/- per share of (MDPL) in F.Y. 2006-07(A.Y. 2007-08). The issue is being investigated by Investigation Wing, Kolkata for verifying the receipt of share premium by MDPL and report awaited. Further computation of long term capital gain by persons/owner of properties developed

M/S. Shri Vardai Ovrseas (P) Ltd., New Delhi vs. ITO, New Delhi

In the result the appeals of the assessee are allowed

ITA 188/DEL/2010[2000-01]Status: DisposedITAT Delhi29 Oct 2015AY 2000-01

Bench: Shri J. Sudhakar Reddy & Shri Sudhanshu Srivastava

For Appellant: Shri V.K. Sabharwal, AdvocateFor Respondent: Shri Sujit Kumar, Sr.DR
Section 131Section 133Section 133ASection 147Section 148Section 68

common order. 2. The facts, in brief, are as under:- Survey u/s 133A of the Income Tax Act, 1961 was conducted by the investigation wing at the office premises of one Shri Sanjay Rastogi, Chartered Accountant on 4th March, 2003 wherein it was found that Shri Sanjay Rastogi along with ... course of survey on the business premises of Shri Sanjay Rastogi at 210, Wakil Chamber, A-115, Shakarpur, Delhi. During bank inquires by the investigation wing, it was revealed that companies including the assessee company had received cheques which were in the nature of accommodation entries. Based on the aforesaid

M/S. Shri Vardai Ovrseas (P) Ltd., New Delhi vs. ITO, New Delhi

In the result the appeals of the assessee are allowed

ITA 187/DEL/2010[1999-00]Status: DisposedITAT Delhi29 Oct 2015AY 1999-00

Bench: Shri J. Sudhakar Reddy & Shri Sudhanshu Srivastava

For Appellant: Shri V.K. Sabharwal, AdvocateFor Respondent: Shri Sujit Kumar, Sr.DR
Section 131Section 133Section 133ASection 147Section 148Section 68

common order. 2. The facts, in brief, are as under:- Survey u/s 133A of the Income Tax Act, 1961 was conducted by the investigation wing at the office premises of one Shri Sanjay Rastogi, Chartered Accountant on 4th March, 2003 wherein it was found that Shri Sanjay Rastogi along with ... course of survey on the business premises of Shri Sanjay Rastogi at 210, Wakil Chamber, A-115, Shakarpur, Delhi. During bank inquires by the investigation wing, it was revealed that companies including the assessee company had received cheques which were in the nature of accommodation entries. Based on the aforesaid

DCIT 12(2), Mumbai vs. Kewalraj & Co, Mumbai

The appeal of the assessee is partly allowed

ITA 4775/MUM/2013[2007-08]Status: DisposedITAT Mumbai28 Oct 2015AY 2007-08

Bench: S/Sh. Rajendra & Sanjay Gargआयकर आयकर अपील अपील संसंसंसं/.Ita No.4775/Mum/2013,िनधा"रण िनधा"रण वष" वष"/Assessment Year-2007-08 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Dcit-12(2) M/S. Kewalraj & Company. Room No.134, Aayakar Bhavan, Vs E-3, Cuffe Castle,Cuffe Parade, M.K. Road Colaba,Mumbai-400 005. Mumbai-400 020. Pan:Aaefa 7871 M आयकर आयकर अपील अपील संसंसंसं/.Ita No.4166/Mum/2013,िनधा"रण िनधा"रण वष" वष"/Assessment Year-2007-08 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" M/S. Kewalraj & Company. Dcit-12(2) Mumbai-400 005. Vs Mumbai-400 020. Pan:Aaifk 7371 A आयकर आयकर अपील अपील संसंसंसं/.Ita No.4776/Mum/2013,िनधा"रण िनधा"रण वष" वष"/Assessment Year-2008-09 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Dcit-12(2) M/S. Kewalraj & Company. Mumbai-400 020. Vs Mumbai-400 005. िनधा"रती िनधा"रती ओर ओर सेसेसेसे/Assessee By : Shri Shekhar Gupta िनधा"रती िनधा"रती ओर ओर राज"व क" ओर से/ Revenue By : Ms. Vinita J. Menon सुनवाई सुनवाई क" क" तारीख तारीख / Date Of Hearing : 09- 09 -2015 सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" तारीख / Date Of Pronouncement : 28-10-2015 आयकर आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग" अ"तग"त आदेश आदेश आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग" अ"तग" आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य सद"य राजे"" राजे"" केकेकेके अनुसार अनुसार Per Rajendra, Am- लेखा लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Orders Dt.5.3.2013 Of Cit(A)-24, Mumbai, The Assessing Officer(Ao) & The Assessee Have Filed Cross Appeals For The Ay 2007-08,Whereas For A.Y. 2008-09 The Ao Has Filed The Appeal.Ground Of Appeal For The A.Y.2007-08 By The Revenue & The Assessee & For A.Y. 2008-09 Are As Follows:

For Appellant: Shri Shekhar GuptaFor Respondent: Ms. Vinita J. Menon
Section 254(1)Section 69C

could not give any identification number for the wind mill.The FAA found that the AO was directed to carry out certain enquiries through the Investigation Wing of the Department on the issues of purchase of land,cost incurred for transportation,cost apportionment and the existence of the wind mill.He referred ... Turnkey Project project,that NIPCIL had to supply the material,that the WEG was commissioned in the year,that the verification made by the investigation wing of the department proved that the assessee had installed new machinery,that the documentary evidences clearly showed that the WEG was functioning,that

ITO 12(3)4, Mumbai vs. Vardhan Builders, Mumbai

The appeal of the Revenue is dismissed

ITA 4635/MUM/2013[2009-10]Status: DisposedITAT Mumbai28 Oct 2015AY 2009-10

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2009-10 Income Tax Officer-12(3)(4), M/S Vardhan Builders, Room No.123, 1St Floor, 422, Commerce House, बनाम/ Aayakar Bhavan, 140, Nagindas Master Road, Vs. M.K.Road, Mumbai-400023 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaafv0694B Shri Chandip Singh -Dr राज"व क" ओर से / Revenue By "नधा"रती क" ओर से / Assessee By Shri Vijay C Kothari

Section 2Section 80I

observation made by the Assessing Officer and also argued by the ld. DR are that pursuant to second survey made on 01/12/2011 by the investigation wing, certain violation of conditions for eligibility of deduction u/s 80IB(10) of the Act were found, wherein, certain flats were found exceeding the prescribed

M/S. Design & Decor (India) (P) Ltd., Noida vs. ITO, New Delhi

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

ITA 6252/DEL/2013[2002-03]Status: DisposedITAT Delhi21 Oct 2015AY 2002-03

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

For Appellant: Shri Pratap Gupta, CAFor Respondent: Shri Hemant Gupta, Senior DR
Section 143(1)Section 143(2)Section 148

unexplained cash credits of the assessee company for the year under consideration. The Director of M/s Saar Enterprises Pvt. Ltd. has admitted before the Investigation Wing of Income Tax Department that accommodation entries are given on receipt of commission. There is normal trend to give such entries @2% commission

Smt. Rashmi Wadhwa, New Delhi vs. DCIT, New Delhi

In the result, both the Appeals filed by the Assessee stands allowed

ITA 501/DEL/2015[2008-09]Status: DisposedITAT Delhi19 Oct 2015AY 2008-09

Bench: Shri J. Sudhakar Reddy

For Appellant: Sh. Tarun Kumar, Adv. &For Respondent: Mrs. Rakhi Vimal, JCIT
Section 127Section 132Section 143(3)Section 153ASection 69C

derived income from 'salary' and 'other sources'. A search and seizure operation u/s 132 of the I. T. Act, 1961 was conducted by the Investigation Wing of the department in Nussli (Switzerland) Ltd. group of cases on 19.10.2010 and simultaneously the appellant premises were also searched. The case