ANIKET SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

ITA 1146/CHANDI/2025Status: DisposedITAT Chandigarh13 March 2026AY 2017-18Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 939/Chd/2025 निर्धारण वर्ष / Assessment Year : 2016-17 Shri Aniket Singal बनाम The DCIT 4, Amritashergil Marg, New Delhi- 110003 Central Circle-1 Chandigarh स्थायी लेखा सं./ PAN NO: CZCPS6126E अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 1145/Chd/2025 निर्धारण वर्ष / Assessment Year : 2017-18 Smt. Aarti Singal बनाम The DCIT 53, Jor Bagh, New Delhi-110003 Central Circle-1 Chandigarh स1 pages
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What did the Tribunal hold?

The Tribunal held that the AO could not treat transactions as bogus solely on suspicion without tangible material. The transactions were supported by contract notes, demat statements, and banking channels, and the investee companies were not declared sham by SEBI.

What were the facts?

The assessee claimed long-term capital gains (LTCG) from the sale of shares as exempt income. The Assessing Officer (AO) treated these gains as bogus accommodation entries based on statements from entry providers and seized documents.

What were the issues?

Whether the LTCG from share transactions were bogus accommodation entries, and if the AO was justified in making additions and denying exemption.

Which sections of the Income-tax Act were involved?

Section 68,Section 69C,Section 10(38)

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Cases cited in this judgment(6)Show list

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Heard together (3 matters)

ITA No. 939/Chd/ 2025
ITA No. 1145/Chd/ 2025
ITA No. 1146/Chd/ 2025

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आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING THROUGH: PHYSICAL MODE "ी राजपाल यादव, उपा"" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. RAJPAL YADAV, VP & SHRI. KRINWANT SAHAY, AM आयकर अपील सं./ ITA No. 939/Chd/ 2025 िनधा"रण वष" / Assessment Year : 2016-17 Shri Aniket Singal बनाम The DCIT 4, Amritashergil Marg, New Delhi- Central Circle-1 110003 Chandigarh "ायी लेखा सं./PAN NO: CZCPS6126E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 1145/Chd/ 2025 िनधा"रण वष" / Assessment Year : 2017-18 Smt. Aarti Singal बनाम The DCIT 53, Jor Bagh, New Delhi-110003 Central Circle-1 Chandigarh "ायी लेखा सं./PAN NO: AEFPS6299L अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 1146/Chd/ 2025 िनधा"रण वष" / Assessment Year : 2017-18 Shri Aniket Singal बनाम The DCIT 4, Amritashergil Marg, New Delhi- Central Circle-1 110003 Chandigarh "ायी लेखा सं./PAN NO: CZCPS6126E अपीलाथ"/Appellant ""थ"/Respondent िनधा"रती की ओर से/Assessee by : Shri Ashwani Kumar & Ms. Deepali Aggarwal, C.A’s राज" की ओर से/ Revenue by : Shri Manav Bansal, CIT, DR सुनवाई की तारीख/Date of Hearing : 24/02/2026 उदघोषणा की तारीख/Date of Pronounc

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