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“investigation wing”

ReassessmentSection 147Section 14712,583 judgments

The decision most relied on for investigation wing is PCIT v. RMG Polyvinyl (I) Ltd. (396 ITR 5), cited in 272 judgments on BharatTax.

Leading authorities on investigation wing

PCIT v. RMG Polyvinyl (I) Ltd.
396 ITR 5 · 2017 · High Court
272
citing judgments

Reassessment based solely on information from the Investigation Wing, without the Assessing Officer conducting further inquiry or demonstrating an independent application of mind, is unjustified and invalid.

109 TTJ 700 (Del) SMC Share Brokers Ltd. v. DCIT
293 ITR 43 · 2007 · High Court
264
citing judgments

Where an assessment order is merely a copy-paste of observations from an investigation wing's appraisal report without independent verification, it is not a valid basis for making additions to income.

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.

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.

Judgments citing investigation wing

Assistant Commissioner of Income Tax, Nungambakkam vs. Pawan Cargo Forwards Pvt Ltd, Chennai

In the result, appeal filed by the revenue is dismissed in terms above and cross objection filed by the assessee become infructuous in terms of our above order

ITA 3116/CHNY/2024[2013-14]Status: DisposedITAT Chennai08 Sept 2025AY 2013-14

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri S. R. Raghunathaआयकरअपील सं./ Ita No.3116/Chny/2024 (िनधा&रणवष& / Assessment Year: 2013-14) The Asst. Commissioner Of Income Pawan Cargo Forwards Pvt. Ltd., Tax, Vs. 518, Mkn Road, Pawan Imperia, Circle-1(Ltu) Alandur Mkn Road, Chennai. Chennai – 600 016. [Pan: Aaccp 2477P] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: 26.06.2025
Section 148Section 148ASection 151

Income-tax (Appeal) did not appreciate the fact that the transactions are penny stock transactions and additions were made on the findings of the Investigation Wing in the scrip M/s.Wagend Infra Ventures Ltd. wherein the prices of the ITA No.3116/Chny/2024 & C.O No.3/Chny/2025 Pawan Cargo Forwards shares were manipulated

Laurels Properties Private Limited, Delhi vs. DCIT CC-1(4), Mumbai

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

ITA 1179/MUM/2025[2015-16]Status: DisposedITAT Mumbai05 Sept 2025AY 2015-16

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 143(3)Section 250

Income Tax (Appeals) erred in not quashing the assessment order as the assessment was re-opened merely on the basis of information received from Investigation Wing and SEBI Interim Order, which was under a different law with a different purpose and which was subsequently set aside and no independent enquiry ... part of the AO. It was further argued that the assessment was re-opened merely on the basis of information received from Investigation Wing and SEBI Interim Order, which was under a different law with a different purpose and which was subsequently set aside and no independent enquiry was made

M/S Real Time Consultants Pvt. Ltd., Mumbai vs. ITO 15(3)(1), Mumbai

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

ITA 3290/MUM/2019[2011-12]Status: DisposedITAT Mumbai05 Sept 2025AY 2011-12

Bench: Shri Pawan Singh & Shri Prabhash Shankar

For Appellant: Shri Rushabh Mehta,ARFor Respondent: Shri Uma Shankar Prasad, (CIT DR)
Section 131Section 133(6)Section 143(3)Section 147Section 148

actions of the Assessing Officer of initiating the assessment merely on conjectures and surmises solely on the basis of information received from the investigation wing without any application of mind on the information so received. 5. In the facts and circumstances of the case and in law, the learned ... during Page 5 ITA No. 3290/Mum/2019 A.Y. 2011-12 M/s Real Time Consultants Pvt. Ltd. search operation.Subsequent retractions were countered by the Investigation wing on the ground that no coercion was applied and the retracted statement was only self serving. It was also intimated that notices were issue

Dy. Commissiioner of Income-Tax, Central Circle-1, Visakhapatnam vs. Kavya Avenues LLP, Visakhapatnam

In the result, appeal of the revenue is dismissed

ITA 351/VIZ/2025[2021-22]Status: DisposedITAT Visakhapatnam04 Sept 2025AY 2021-22

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

Section 132Section 132(4)Section 142(1)Section 143(2)Section 143(3)

erroneous both on facts and in law. 2. The Ld.CIT(A) erred in considering the fact that the assessee-firm accepted before the Investigation Wing the impugned cash receipts were belonging to them. However, the assesses's plea that reasonable profit can be estimated on the above cash receipts cannot ... that there is material evidence Sri R.Prasad and Sri K.SivaSahnkar Reddy, both of them received cash from the flat buyers.The enquiries conducted by the Investigation Wing with the flat buyers on random basis also confirmed that fact that the respective buyers have withdrawn cash from their bank accounts of their

Income Tax Officer Ward-3(3)(2), Ahmedabad vs. Kapil Arun Agrawal, Ahmedabad

In the result, appeal of the Revenue stands dismissed

ITA 672/AHD/2025[2015-16]Status: DisposedITAT Ahmedabad04 Sept 2025AY 2015-16

Bench: Shri Sanjay Garg & Smt. Annapurna Guptaआयकर अपील सं /Ita No.672/Ahd/2025 िनधा"रण वष" /Assessment Year : 2015-16 Income Tax Officer Kapil Arun Agrawal बनाम/ Ward-3(3)(2) B-130 Pushp Industrial Park V/S. Ahmedabad Near Shital Cinema, Gomtipur Rakhial Ahmeabad – 390 021 "थायी लेखा सं./Pan: Agupa 1914 H (अपीलाथ)/ Appellant) (*+ यथ)/ Respondent) Assessee By : Ms. Urvashi Sodhan, Ar Revenue By : Shri Ravindra, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 28/08/2025 घोषणा की तारीख /Date Of Pronouncement: 04/09/2025 आदेश/O R D E R Per Sanjay Garg:

For Appellant: Ms. Urvashi Sodhan, ARFor Respondent: Shri Ravindra, Sr.DR
Section 147Section 250Section 68Section 69C

Penny Script M/s. Oasis Tradelink Ltd treated as unexplained income u/s. 68 of IT Act, despite the fact that credible information was received from Investigation wing that the Script M/s Oasis Tradelink Ltd is used by Shri Naresh Jain and its associates to rig the stock and to provide accommodation ... Insight Portal that a search and survey action was conducted on a syndicate of persons led by one Shri Naresh Jain by the Investigation Wing on 19/03/2019. During the search action, it was found that Shri Naresh Jain was indulged in share price rigging of the shares of the various

Zalavadiya Kalubhai Mohanbhai, HUF, Ahmedabad vs. The Income Tax Officer, Ward-5(3)(1), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 806/AHD/2024[2015-16]Status: DisposedITAT Ahmedabad04 Sept 2025AY 2015-16

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha, Accountannt Member Assessment Year 2015-16

For Appellant: Shri Tushar Hemani, Sr. A.R. &For Respondent: Shri Abhijit, Sr. D.R
Section 10(38)Section 142(1)Section 143(2)Section 147Section 148

Notice u/s. 148: The ld. AO had erred in issuing notice u/s 148 of the I.T. Act on the basis of information from the Investigation wing uploaded on insight portal. The AO reopened assessment without having any tangible evidence for escapement of income and without application of mind ... basis of Information received from Insight Portal. The AO has not provided any tangible evidence of escapement of income except report of Investigation Wing. The Id CIT(A)-NFAC has disposed-off of this ground without considering appellant's submission. Therefore assessment

Trikkur Varadarajan Sreenivasan, Hyderabad vs. Income Tax Officer, Ward-1(1), Hyderabad

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

ITA 786/HYD/2025[2021-22]Status: DisposedITAT Hyderabad04 Sept 2025AY 2021-22

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

For Appellant: MS. Jyothi Anumolu, AdvocateFor Respondent: Dr. Sachin Kumar, Sr. AR
Section 142(1)Section 143(3)Section 250Section 68

account and to establish the genuineness of the transaction. However, assessee did not provide any such details despite being issued multiple summons by the investigation wing. In light of the above facts, the DDIT investigation, Chennai found that receipts/credits in the Bittrex wallet of the assessee remain unexplained. During

DCIT Central Circle 7 (1), Mumbai vs. Ramrao Adik Educ Society, Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 2276/MUM/2025[2014-15]Status: DisposedITAT Mumbai04 Sept 2025AY 2014-15

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 12ASection 132Section 132(4)Section 143(3)Section 153CSection 250Section 4Section 68

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

DCIT Central Circle 7 (1), Mumbai vs. Ramrao Adik Educ Society, Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 2275/MUM/2025[2016-17]Status: DisposedITAT Mumbai04 Sept 2025AY 2016-17

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 12ASection 132Section 132(4)Section 153CSection 250Section 68Section 9

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

DCIT Central Circle 7 (1), Mumbai vs. Ramrao Adik Educ Society, Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 2273/MUM/2025[2017-18]Status: DisposedITAT Mumbai04 Sept 2025AY 2017-18

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 12ASection 132Section 132(4)Section 153CSection 250Section 68Section 9

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

DCIT Central Circle 7 1, Mumbai vs. Ramrao Adik Educ Society, Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 2272/MUM/2025[2013-14]Status: DisposedITAT Mumbai04 Sept 2025AY 2013-14

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 11Section 12ASection 132Section 132(4)Section 153CSection 250Section 68Section 9

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

DCIT Central Circle 7 (1), Mumbai vs. Ramrao Adik Educ Society, Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 2271/MUM/2025[2015-16]Status: DisposedITAT Mumbai04 Sept 2025AY 2015-16

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

For Appellant: Shri Rajiv Khandelwal, CAFor Respondent: Shri Umashankar Prasad, CIT-DR
Section 12ASection 132Section 132(4)Section 153CSection 250Section 68Section 9

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

Ramrao Adik Education Society, Mumbai vs. Deputy Commissioner of Incometax Central Circle 7(1), Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 1515/MUM/2025[2017-18]Status: DisposedITAT Mumbai04 Sept 2025AY 2017-18

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 12ASection 132Section 132(4)Section 153CSection 250Section 68Section 9

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

Ramrao Adik Education Society, Mumbai vs. Deputy Commissioner of Incometax Central Circle 7(1), Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 1514/MUM/2025[2016-17]Status: DisposedITAT Mumbai04 Sept 2025AY 2016-17

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 12ASection 132Section 132(4)Section 153CSection 250Section 68Section 9

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

Ramrao Adik Education Society, Mumbai vs. Deputy Commissioner of Incometax Central Circle 7(1), Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 1513/MUM/2025[2015-16]Status: DisposedITAT Mumbai04 Sept 2025AY 2015-16

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

For Respondent: Shri Rajiv Khandelwal, CA
Section 12ASection 132Section 132(4)Section 153CSection 250Section 68Section 9

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

Ramrao Adik Education Society, Mumbai vs. Deputy Commissioner of Income Tax Central Circle 7(1), Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 1511/MUM/2025[2013-14]Status: DisposedITAT Mumbai04 Sept 2025AY 2013-14

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 12ASection 132Section 132(4)Section 153CSection 250Section 4Section 68

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

Ramrao Adik Education Society, Mumbai vs. Deputy Commissioner of Income Tax Central Circle 7(1), Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 1510/MUM/2025[2012-13]Status: DisposedITAT Mumbai04 Sept 2025AY 2012-13

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 11Section 12ASection 132Section 132(4)Section 153CSection 250Section 4Section 68

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

Ramrao Adik Education Society, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 7(1), Mumbai

Accordingly. The ground raised by the revenue is partly allowed for

ITA 1509/MUM/2025[2011-12]Status: DisposedITAT Mumbai04 Sept 2025AY 2011-12

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

Section 12ASection 132Section 132(4)Section 153CSection 250Section 68Section 9

that the statement recorded during the search action has been retracted by Shri Sunil Gaikwad. In his affidavit filed on 10/8/2016, before the Investigation wing, Shri Sunil Gaikwad has stated that he was panic stricken and his statement was recorded when he was in confused state of mind and that

DCIT, Circle- 24(2), New Delhi vs. Superstar Innovation Pvt. Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 834/DEL/2018[2009-10]Status: DisposedITAT Delhi04 Sept 2025AY 2009-10

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.834/िद"ी/2018(िन.व. 2009-10) Deputy Commissioner Of Income Tax, Circle-24(2), R. No. 328, C.R Building, I.P Estate, ...... अपीलाथ"/Appellant New Delhi बनाम Vs. M/S. Superstar Innovation Pvt. Ltd., D-6/6032/2, Ground Floor, Vasant Kunj, New Delhi 110070 ..... "ितवादी/Respondent Pan: Aabcs 7795 Q Co No. 141/Del/2023 (A.Y.2009-10) In Ita No. 834/Del/2018 M/S. Superstar Innovation Pvt. Ltd., D-6/6032/2, Ground Floor, Vasant Kunj, New Delhi 110070 ...... अपीलाथ"/Appellant Pan: Aabcs 7795 Q बनाम Vs. Deputy Commissioner Of Income Tax, Circle-24(2), R. No. 328, C.R Building, I.P Estate, ..... "ितवादी/Respondent New Delhi अपीलाथ" "ारा/ Appellant By : Dr. Rakesh Gupta, S/Shri Somil Agarwal, Deepesh Garg & Shrey Jain, Advocates "ितवादी"ारा/Respondent By : Ms. Maninder Kaur & Ms. Neeju Gupta, Sr. Dr सुनवाई क" ितिथ/ Date Of Hearing : 06/06/2025 घोषणा क" ितिथ/ Date Of Pronouncement : : 04/09/2025

For Appellant: Dr. Rakesh Gupta, S/Shri Somil AgarwalFor Respondent: Ms. Maninder Kaur &
Section 143(3)Section 147Section 148

case of the assessee was reopened and notice u/s. 148 of the Act was issued to the assessee. As per the information received from investigation wing non genuine Client Code Modification (CCM) were carried out by some persons in connivance with brokers to book contrived losses. The CCM facility ... error. It became a practice to book artificial profits or losses to impact tax liability. As per the information received from the Investigation Wing, the assessee also used dubious method of CCM to reduce its income to the extent of Rs.54,80,532/-. The Assessing Officer (AO) recorded reasons

Somdutt Bansal, Gwalior vs. Income T Ax Officer, Gwalior

In the result, the appeal of the assessee is allowed

ITA 288/AGR/2025[2011-2012]Status: DisposedITAT Agra03 Sept 2025AY 2011-2012

Bench: Shri S.Rifaur Rahman

For Appellant: Shri Satish Kumar Agarwal, AdvocateFor Respondent: Shri Anil Kumar, Sr. DR
Section 143(2)Section 148Section 151

proper. - 8. Considered the rival submissions and material placed on record. I observe that the AO has received specific information from the Investigation Wing as per which Vipin Garg has given a statement that he has provided accommodation entry to the assessee for the specific amount which was part