LALIT KUMAR KEDIA,KOLKATA vs. I.T.O.,WARD-35(3), KOLKATA

Assessment Year: 2014-15 Sunita Goenka............................…......................................……….……Appellant C/o Ram Kr. Goenka, 10, Sastigoria, P.O-Raniganj-713347, Dist.Paschim Burdwan, W.B. [PAN: AIJPG3350N] vs. ITO, Ward-3(1), Kolkata...……….…..….........……........……...…..…..Respondent Appearances by: None appeared on behalf of the appellant. Shri Manas Mondal, Addl. CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : July 25, 2022 Date of pronouncing the order : July 25, 2022

ORDER Per Bench: The captioned appeals have been preferred by the different assessees against the separate orders of the Commissioner of Income Tax (Appeals), Kolkata [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’). Since the common issue relating to claim of gain/loss in respect of transactions in penny stock is involved in these appeals, hence these appeals have been heard together and are being disposed off by this common order. is taken as the lead case. the outset, the ld. Counsel for the assessee has been fair enough to state that since the issue involved in this appeal is relating to the penny stock and the same is squarely covered against the assessee by the recent decision of the Calcutta High Court vide common order dated 14.06.2022 in a batch of 90 appeals with a lead case titled as PCIT vs. Swati Bajaj in IA No.GA/2/2022 and Others. The ld. Counsel has submitted that the facts and issue involved in the above appeal of the assessee are identical to that were before the Hon’ble Calcutta High Court. The Hon’ble Calcutta

I.T.A. No.2123/Kol/2019 Sweta Vikas Jhawar Lalit Kumar Kedia Spectron Stock & Shares (P) Ltd I.T.A. No.2287/Kol/2019 Sunita Goenka High Court vide its decision dated 14.06.2022 (supra) has affirmed the additions made by the Assessing Officer u/s 68 of the Income Tax Act in respect of bogus long-term capital gains. In view of this, the appeal of the assessee is hereby dismissed.

Kolkata, the 25th July, 2022.