315 (Kolkata-Trib) 3. Suman Poddar v. ITO

109 Taxmann.com 174High Court2019#10068 most cited

What is 315 (Kolkata-Trib) 3. Suman Poddar v. ITO authority for?

When an assessee fails to establish the genuineness of share price increases in penny stock companies within a short period, the AO can reasonably conclude that transactions are bogus and capital gains result from accommodation entries.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2020 to 2025.

Also referred to as

Suman Poddar v. ITO · 109 Taxmann.com 174 · penny stock · bogus long term capital gain · accommodation entry · section 10(38) · genuineness of the transaction · onus of proof · long term capital gain

Sections most often in play

Section 10(38)Section 143(3)Section 148Section 68Section 69CSection 10(37)Section 115BBESection 142(1)

Issues it is cited on

onus of proofpenny stocksection 10(38)bogus long term capital gainlive linkamalgamationaddition u/s 68entry operatortangible materialaccommodation entrylong term capital gaingenuineness of the transaction

Judgments citing 315 (Kolkata-Trib) 3. Suman Poddar v. ITO

Ajay Kumar, Ghaziabad vs. Pr. CIT (Central), Meerut

In the result, appeal of the assessee is dismissed

ITA 733/DEL/2021[2016-17]Status: DisposedITAT Delhi30 May 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

Section 143(2)Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER ITA No.733/Del/2021, A.Y. 2016-17 Sh. Ajay Kumar Pr. Commissioner of C/O RRA TAXINDIA Income Tax (Central), D-28, South Extension, Part-1, Vs. Kanpur New Delhi-110049 PAN: ASPPK4845E (Appellant) (Respondent) Appellant by Dr. Rakesh Gupta, Advocate Sh. Somil Agarwal, Advocate Respondent by Mr. Javed Akhtar, CIT(DR) Date of Hearing 03/03/2025 Date of Pronouncement 30/05/2025 ORDER PER AVDHESH KUMAR MISHRA, AM This appeal of the assessee for the Assessment Ye…

Kaushik Chandravadan Parikh, Mumbai vs. NFAC, Delhi

ITA 2064/MUM/2023[2011-12]Status: DisposedITAT Mumbai26 Jul 2024AY 2011-12

Bench: Ms. Kavitha Rajagopal (Jm) & Shri Omkareshwar Chidara (Am)

Section 10(38)Section 132Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “E” Bench, Mumbai. Before Ms. Kavitha Rajagopal (JM) & Shri Omkareshwar Chidara (AM) I.T.A. No. 2064/Mum/2023 (A.Y. 2011-12) Vs. ACIT-19(2) Kaushik Chandravadan Parikh 1216, Prasad Chambers Mumbai Opera House, Mumbai-400 004. PAN : AADPP1909Q (Appellant) (Respondent) Assessee by Shri B.V. Jhaveri & Ms. Bhargavi Raval Department by Shri P.D. Chougule Date of Hearing 02.05.2024 Date of Pronouncement 26.07.2024 O R D E R Per Omkareshwar Chidara (AM) :- In the above captioned appeal, the appellant raised two main grounds, first being the reopening of assessment as…

Spectrum Foods Limited, Jaipur vs. Income Tax Officer, Jaipur

In the result, the appeal of the assessee is allowed

ITA 38/JPR/2024[2010-11]Status: DisposedITAT Jaipur08 Apr 2024AY 2010-11

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. S. L. Poddar, AdvFor Respondent: Sh. Anup Singh (Addl. CIT)
Section 143(3)Section 147Section 148

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, vk;dj vihy la-@ITA No. 38/JP/2024 fu/kZkj.k o"kZ@Assessment Years : 2010-11 cuke M/s Spectrum Foods Limited The Income Tax Officer, Vs. L-5, B-II, Surya House, Krishna Jaipur Marg, C-Scheme, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AADCS 3704 R vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. S. L. Poddar, Adv. jktLo dh…

Hitesh Kumar Bindal, Indore vs. The DCIT Circle 1(1), Indore

ITA 352/IND/2022[2011-12]Status: DisposedITAT Indore04 Aug 2023AY 2011-12

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 10(38)Section 143(1)Section 143(3)Section 147Section 148Section 68

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA Nos. 351 & 352/Ind/2022 Assessment Years:2011-12 & 2012-13 Shri Hitesh Kumar Bindal, Dy. CIT, Swastik House, Tax Circle, 1(1) बनाम/ 21/3, Ratlam Kothi, Indore. Indore Vs. (Assessee / Appellant) (Revenue / Respondent) PAN: AGGPB9228H Assessee by Ms.Nisha Lahoti, CA and Shri Vijay Bansal, CA Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 10.05.2023 Date of Pronouncement 04.08.2023 आदेश / O R D E R Per B.M. Biyani, A.M.: Th…

Hitesh Kumar Bindal, Indore vs. The DCIT Circle 1(1), Indore

ITA 351/IND/2022[2011-12]Status: DisposedITAT Indore04 Aug 2023AY 2011-12

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 10(38)Section 143(1)Section 143(3)Section 147Section 148Section 68

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA Nos. 351 & 352/Ind/2022 Assessment Years:2011-12 & 2012-13 Shri Hitesh Kumar Bindal, Dy. CIT, Swastik House, Tax Circle, 1(1) बनाम/ 21/3, Ratlam Kothi, Indore. Indore Vs. (Assessee / Appellant) (Revenue / Respondent) PAN: AGGPB9228H Assessee by Ms.Nisha Lahoti, CA and Shri Vijay Bansal, CA Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 10.05.2023 Date of Pronouncement 04.08.2023 आदेश / O R D E R Per B.M. Biyani, A.M.: Th…

Ankur Agrawal, Indore vs. ITO-5(1), Indore

In the result, all three appeals of two assessee are allowed

ITA 217/IND/2019[2015-16]Status: DisposedITAT Indore21 Jun 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 10(38)Section 68

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA Nos.215 & 216/Ind/2019 (Assessment Years:2014-15 & 2015-16 ) Smt. Sheela Agrawal, ITO-5(5), 10/1 Ankur Villa, Indore Vs. Dr. R.S Bhandari Marg, Indore (Appellant / Assessee) (Respondent/ Revenue) PAN: ABTPA 5415 D Shri Ankur Agrawal, ITO-5(5), 10/1 Ankur Villa, Indore Dr. R.S Bhandari Marg, Vs. Indore (Appellant / Assessee) (Respondent/ Revenue) PAN: ADZPA 2154 M Assessee by Shri Hitesh Chimnani & Yash Kukreja ARs Revenue by Shri…

Smt. Sheela Agrawal, Indore vs. ITO-5(5), Indore

In the result, all three appeals of two assessee are allowed

ITA 216/IND/2019[2015-16]Status: DisposedITAT Indore21 Jun 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 10(38)Section 68

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA Nos.215 & 216/Ind/2019 (Assessment Years:2014-15 & 2015-16 ) Smt. Sheela Agrawal, ITO-5(5), 10/1 Ankur Villa, Indore Vs. Dr. R.S Bhandari Marg, Indore (Appellant / Assessee) (Respondent/ Revenue) PAN: ABTPA 5415 D Shri Ankur Agrawal, ITO-5(5), 10/1 Ankur Villa, Indore Dr. R.S Bhandari Marg, Vs. Indore (Appellant / Assessee) (Respondent/ Revenue) PAN: ADZPA 2154 M Assessee by Shri Hitesh Chimnani & Yash Kukreja ARs Revenue by Shri…

Smt. Sheela Agrawal, Indore vs. ITO-5(5), Indore

In the result, all three appeals of two assessee are allowed

ITA 215/IND/2019[2014-15]Status: DisposedITAT Indore21 Jun 2023AY 2014-15

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 10(38)Section 68

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA Nos.215 & 216/Ind/2019 (Assessment Years:2014-15 & 2015-16 ) Smt. Sheela Agrawal, ITO-5(5), 10/1 Ankur Villa, Indore Vs. Dr. R.S Bhandari Marg, Indore (Appellant / Assessee) (Respondent/ Revenue) PAN: ABTPA 5415 D Shri Ankur Agrawal, ITO-5(5), 10/1 Ankur Villa, Indore Dr. R.S Bhandari Marg, Vs. Indore (Appellant / Assessee) (Respondent/ Revenue) PAN: ADZPA 2154 M Assessee by Shri Hitesh Chimnani & Yash Kukreja ARs Revenue by Shri…

Shri. Asha Rajendra Gupta, Mumbai vs. Ast CIT 21 (1), Mumbai

In the result, Ground No. 1 with its sub grounds is dismissed

ITA 7712/MUM/2019[2014-15]Status: DisposedITAT Mumbai13 Apr 2023AY 2014-15

Bench: Shri Amit Shukla & Shri Gagan Goyalsmt. Asha Rajendra Gupta Tulsi Vihar Himalaya Baug L. J. Road, Opp. Sitaladevi Temple, Mahim(W) Mumbai-400 016 Pan:Aaxpg2017J ...... Appellant Vs. Acit-21(1) R. No. 116, Piramal Chamber, Lalabaug, Mumbai-400 020 ..... Respondent

For Appellant: Shri Shashank Mehta, Ld. ARFor Respondent: Shri Manoj Kumar Sihna, CIT DR
Section 10(38)Section 143Section 2Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Smt. Asha Rajendra Gupta Tulsi Vihar Himalaya Baug L. J. Road, Opp. Sitaladevi Temple, Mahim(W) Mumbai-400 016 PAN:AAXPG2017J ...... Appellant Vs. ACIT-21(1) R. No. 116, Piramal Chamber, lalabaug, Mumbai-400 020 ..... Respondent Appellant by : Shri Shashank Mehta, Ld. AR Respondent by : Shri Manoj Kumar Sihna, CIT DR Date of hearing : 19/01/2023 Date of pronouncement : 13/04/2023 ORDER PER GAGAN GOYAL, A.M: This appeal by assessee is directed against the order of…

Anurag Agarwal, Mumbai vs. ITO - 24(1)(3), Mumbai

ITA 3186/MUM/2018[2014-15]Status: DisposedITAT Mumbai06 Aug 2020AY 2014-15

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2014-15 Shri Anurag Agarwal, Ito – 24(1)(3), C-303, Orchid Enclave, 4Th Floor, J.B. Nagar, Vs. Piramal Chambers, Andheri (E), Lal Baug, Mumbai - 400059 Parel, Pan: Adtpa6534H Mumbai - 400012 (Appellant) (Respondent) Present For: Assessee By : Shri Hari Raheja, A.R. Shri Mani Jain, A.R. Revenue By : Shri Michael Jerald, D.R. Date Of Hearing : 04.03.2020 Date Of Pronouncement : 06.08.2020 O R D E R

For Appellant: Shri Hari Raheja, A.RFor Respondent: Shri Michael Jerald, D.R
Section 143(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “A”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER Assessment Year: 2014-15 Shri Anurag Agarwal, ITO – 24(1)(3), C-303, Orchid Enclave, 4th Floor, J.B. Nagar, Vs. Piramal Chambers, Andheri (E), Lal Baug, Mumbai - 400059 Parel, PAN: ADTPA6534H Mumbai - 400012 (Appellant) (Respondent) Present for: Assessee by : Shri Hari Raheja, A.R. Shri Mani Jain, A.R. Revenue by : Shri Michael Jerald, D.R. Date of Hearing : 04.03.2020 Date of Pronouncement : 06.08.2020 O R D E R Per Rajesh Kumar, Accountant Member: The present appea…

315 (Kolkata-Trib) 3. Suman Poddar v. ITO (109 Taxmann.com 174) — Cited in 10 Judgments | BharatTax