“investigation wing”

Vasupujya Filaments, Mumbai vs. DCIT-CC-3, Thane

In the result, all appeals filed by the assessee are allowed

Bench: Shri Amit Shukla & Shri Prabhash Shankar

examined in the assessment order. In this context, the Assessing Officer placed extensive reliance upon the post-search enquiries conducted by the Investigation Wing, Thane, in respect of certain companies alleged to be Kolkata-based entities. The said report recorded that, in some instances, summons under section ... been issued and replies were received, while in other cases there was no compliance. The Investigation Wing, however, opined that these entities were nothing but shell companies, whose identity, genuineness of transactions, and financial capacity could not be established. During the assessment proceedings, the Assessing Officer also referred to statements

Vasupujya Filaments, Mumbai vs. DCIT-CC-3, Thane

In the result, all appeals filed by the assessee are allowed

Bench: Shri Amit Shukla & Shri Prabhash Shankar

examined in the assessment order. In this context, the Assessing Officer placed extensive reliance upon the post-search enquiries conducted by the Investigation Wing, Thane, in respect of certain companies alleged to be Kolkata-based entities. The said report recorded that, in some instances, summons under section ... been issued and replies were received, while in other cases there was no compliance. The Investigation Wing, however, opined that these entities were nothing but shell companies, whose identity, genuineness of transactions, and financial capacity could not be established. During the assessment proceedings, the Assessing Officer also referred to statements

Falgun Mahesh Oza, Mumbai vs. ITO Ward 22(1)(1), Mumbai

In the result, grounds of appeal of assesse is allowed

Bench: Shri Pawan Singh(Physical Hearing) Falgun Mahesh Oza Ito, Ward – 22(1)(1), Mumbai 3Rdfloow, Nandan Villa Model Town Vs Society Chs, Gulmohar Cross Road No. 7, Jvpd Scheme, Juhu, Mumbai – 400049. [Pan: Aaapo 0474 A] Appellant / Assessee Respondent / Revenue

merit. While upholding the validity of reopening, the ld. CIT(A) held that case was reopened on the basis of information received from Investigation Wing about client code modification. It is settled position in law that the name of assessee figures in the information received about escaping income then ... formation of belief and should not be extraneous or irrelevant. The assessing officer has information in his possession which was received from Investigation Wing, wherein there was clear cut finding about modus operandi adopted by assessee to manipulate / create artificial losses through client code modification. Hence, there is tangible material

Anand Mellaram Issrani, Mumbai vs. Asst. Comm. of Income Tax 23(1), Mumbai

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant () Assessment Year: 2011-12 Shri Anand Mellaram Issrani, Acit 23(1), 1St Floor, Charishma Chs, Guru Piramal Chambers, Nanak Road, Bandra Vs. Mumbai-400012. Mumbai-400051. Pan No. Aaapi 1267 K Appellant Respondent

consideration on 26.09.2011 declaring declaring total total income income at at Rs.16,81,040/ Rs.16,81,040/-. . Subsequently, Subsequ information was received from the Investigation Wing of the Income- information was received from the Investigation Wing of the Income information was received from the Investigation Wing of the Income taken ... relying upon the findings and The Assessing Officer, relying upon the findings and The Assessing Officer, relying upon the findings and recommendations of the Investigation Wing arising out of search recommendations of the Investigation Wing arising out of search recommendations of the Investigation Wing arising out of search and inquiries

Shree Arihant Gems, Mumbai vs. Income Tax Officer-19(3)(1), Mumbai

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

assessment under Section 143(3) of the Act was framed on the Assessee vide Assessment Order, dated 21.11.2014, Thereafter, information was received from the Investigation Wing, Surat leading to initiation of reassessment proceedings under Section 147 of the Act. This becomes clear on perusal reasons recorded for reopening the assessment ... providing accommodation entries to various beneficiaries through his entities operated and controlled by him. The list of such beneficiaries was also forwarded by the Investigation Wing of the Surat. 3. Analysis of information received: Ongoing through the documents forwarded by the Investigation Wing, it is found that various concerns

Sangeeta Kalpesh Chawalla, Mumbai vs. ITO Ward 19(3)(2), Mumbai

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

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2015-16 Sangeeta Kalpesh Chawalla Ito (Ward 19(3) (2), Mumbai) A 67,Darya Mahal, Behind Ito (Ward 19(3) (2), Matru Walshigaham School, 12Th Floor, Vs. Mandir, Income Tax Office, Napean Sea Road, Mumbai - 400007 Mumbai- 400006 Pan No. Adgpc 0339 M Appellant Respondent

also erroneously added the amount of Rs.2,22,370/- as commission charges.” 2. The facts, in brief, are that information was received from the Investigation Wing of the Income Tax Department, Kolkata, that the shares of a so-called "penny stock" company, namely Regency Trust Limited, had been misused

DCIT, Central Circle 7(1), Mumbai vs. Insco Steels Private Limited, Mumbai

In the result, all the appeals raised by the assessee are allowed and all the appeals filed by the revenue are dismissed

Bench: SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & PRABHASH SHANKAR (Accountant Member)

while invoking Sec. 145 of the Act, rejected the books of accounts. 10. Therefore based on the search proceedings conducted by the Investigation Wing and the statements of various parties recorded during the course of the search, the AO concluded that the assessee had earned non-genuine profit

DCIT, Central Circle 7(1), Mumbai vs. Insco Steels Private Limited, Mumbai

In the result, all the appeals raised by the assessee are allowed and all the appeals filed by the revenue are dismissed

Bench: SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & PRABHASH SHANKAR (Accountant Member)

while invoking Sec. 145 of the Act, rejected the books of accounts. 10. Therefore based on the search proceedings conducted by the Investigation Wing and the statements of various parties recorded during the course of the search, the AO concluded that the assessee had earned non-genuine profit

DCIT, Central Circle 7(1), Mumbai vs. Insco Steels Private Limited, Mumbai

In the result, all the appeals raised by the assessee are allowed and all the appeals filed by the revenue are dismissed

Bench: SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & PRABHASH SHANKAR (Accountant Member)

while invoking Sec. 145 of the Act, rejected the books of accounts. 10. Therefore based on the search proceedings conducted by the Investigation Wing and the statements of various parties recorded during the course of the search, the AO concluded that the assessee had earned non-genuine profit

DCIT, Central Circle 7(1), Mumbai vs. Insco Steels Private Limited, Mumbai

In the result, all the appeals raised by the assessee are allowed and all the appeals filed by the revenue are dismissed

Bench: SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & PRABHASH SHANKAR (Accountant Member)

while invoking Sec. 145 of the Act, rejected the books of accounts. 10. Therefore based on the search proceedings conducted by the Investigation Wing and the statements of various parties recorded during the course of the search, the AO concluded that the assessee had earned non-genuine profit

DCIT, Central Circle 7(1), Mumbai vs. Insco Steels Private Limited, Mumbai

In the result, all the appeals raised by the assessee are allowed and all the appeals filed by the revenue are dismissed

Bench: SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & PRABHASH SHANKAR (Accountant Member)

while invoking Sec. 145 of the Act, rejected the books of accounts. 10. Therefore based on the search proceedings conducted by the Investigation Wing and the statements of various parties recorded during the course of the search, the AO concluded that the assessee had earned non-genuine profit