330 (SC) 2. Sanjay Bimalchand Jain v. Pr. CIT

106 Taxmann.com 65High Court2019#3536 most cited

What is 330 (SC) 2. Sanjay Bimalchand Jain v. Pr. CIT authority for?

The issue of bogus long-term capital gains (LTCG) arising from penny stock transactions is frequently addressed under Section 68 and Section 10(38), with the burden of proof resting on the assessee to establish the genuineness of the transactions.

33

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2026.

Also referred to as

Sanjay Bimalchand Jain · bogus LTCG · penny stock · Section 68 · Section 10(38) · long term capital gain · preponderance of probability · accommodation entry · addition u/s 68 · price rigging

Sections most often in play

Section 68Section 10(38)Section 143(3)Section 133(6)Section 143(2)Section 69CSection 115BBESection 131

Issues it is cited on

price riggingbogus long term capital gainbogus ltcgsection 10(38)preponderance of probabilitypenny stockentry operatorlong term capital gainsaccommodation entryaddition u/s 68long term capital gainsection 133

Judgments citing 330 (SC) 2. Sanjay Bimalchand Jain v. Pr. CIT

ITO, Bhadrak Ward, Bhadrak vs. Smt. Kuntala Mohapatra, Bhadrak

In the result, Appeals of the revenue in in ITANos

ITA 50/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

…ed by the assessee are indulged in providing bogus LTCG. Reliance was placed on following decisions: 1. Suman Poddar vs. ITO (2019) 112 taxmann.com 330 (SC) 2. Sanjay Bimalchand Jain vs. Pr. CIT (2018) 89 taxmann.com 196(Bombay) 3. Pooja Ajmani vs. ITO (2019) 106 Taxmann.com 65(Delhi- Tri.) 4. Satish Kishore vs. ITO (2019) 110 taxmann.com 307 (Delhi-Tribunal.) 5. Anip Rastogi vs. ITO in ITANo.3809/Del/2018 (I.T.A.T., Delhi ) 6. CIT vs. Jasvinder Kaur (2013) 37 taxmann.com 286 (Gauhati High Court) 7. Chandan Gupta vs. CIT (2015) 54 taxmann.com 10 (Punjab & Haryana HC) 13. Per contra Ld. counsel for the assessee ve…

ITO, Bhadrak Ward, Bhadrak vs. Parbati Mohapatra, Bhadrak

In the result, Appeals of the revenue in in ITANos

ITA 49/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

…ed by the assessee are indulged in providing bogus LTCG. Reliance was placed on following decisions: 1. Suman Poddar vs. ITO (2019) 112 taxmann.com 330 (SC) 2. Sanjay Bimalchand Jain vs. Pr. CIT (2018) 89 taxmann.com 196(Bombay) 3. Pooja Ajmani vs. ITO (2019) 106 Taxmann.com 65(Delhi- Tri.) 4. Satish Kishore vs. ITO (2019) 110 taxmann.com 307 (Delhi-Tribunal.) 5. Anip Rastogi vs. ITO in ITANo.3809/Del/2018 (I.T.A.T., Delhi ) 6. CIT vs. Jasvinder Kaur (2013) 37 taxmann.com 286 (Gauhati High Court) 7. Chandan Gupta vs. CIT (2015) 54 taxmann.com 10 (Punjab & Haryana HC) 13. Per contra Ld. counsel for the assessee ve…

ITO, Bhadrak Ward, Bhadrak vs. Kishore Kumar Mohapatra, Bhadrak

In the result, Appeals of the revenue in in ITANos

ITA 48/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

…ed by the assessee are indulged in providing bogus LTCG. Reliance was placed on following decisions: 1. Suman Poddar vs. ITO (2019) 112 taxmann.com 330 (SC) 2. Sanjay Bimalchand Jain vs. Pr. CIT (2018) 89 taxmann.com 196(Bombay) 3. Pooja Ajmani vs. ITO (2019) 106 Taxmann.com 65(Delhi- Tri.) 4. Satish Kishore vs. ITO (2019) 110 taxmann.com 307 (Delhi-Tribunal.) 5. Anip Rastogi vs. ITO in ITANo.3809/Del/2018 (I.T.A.T., Delhi ) 6. CIT vs. Jasvinder Kaur (2013) 37 taxmann.com 286 (Gauhati High Court) 7. Chandan Gupta vs. CIT (2015) 54 taxmann.com 10 (Punjab & Haryana HC) 13. Per contra Ld. counsel for the assessee ve…

ITO, Bhadrak Ward, Bhadrak vs. Mamata Mohapatra, Bhadrak

In the result, Appeals of the revenue in in ITANos

ITA 47/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

…ed by the assessee are indulged in providing bogus LTCG. Reliance was placed on following decisions: 1. Suman Poddar vs. ITO (2019) 112 taxmann.com 330 (SC) 2. Sanjay Bimalchand Jain vs. Pr. CIT (2018) 89 taxmann.com 196(Bombay) 3. Pooja Ajmani vs. ITO (2019) 106 Taxmann.com 65(Delhi- Tri.) 4. Satish Kishore vs. ITO (2019) 110 taxmann.com 307 (Delhi-Tribunal.) 5. Anip Rastogi vs. ITO in ITANo.3809/Del/2018 (I.T.A.T., Delhi ) 6. CIT vs. Jasvinder Kaur (2013) 37 taxmann.com 286 (Gauhati High Court) 7. Chandan Gupta vs. CIT (2015) 54 taxmann.com 10 (Punjab & Haryana HC) 13. Per contra Ld. counsel for the assessee ve…

ITO, Bhadrak Ward, Bhadrak vs. Amruta Preetam Mohapatra, Bhadrak

In the result, Appeals of the revenue in in ITANos

ITA 46/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

…ed by the assessee are indulged in providing bogus LTCG. Reliance was placed on following decisions: 1. Suman Poddar vs. ITO (2019) 112 taxmann.com 330 (SC) 2. Sanjay Bimalchand Jain vs. Pr. CIT (2018) 89 taxmann.com 196(Bombay) 3. Pooja Ajmani vs. ITO (2019) 106 Taxmann.com 65(Delhi- Tri.) 4. Satish Kishore vs. ITO (2019) 110 taxmann.com 307 (Delhi-Tribunal.) 5. Anip Rastogi vs. ITO in ITANo.3809/Del/2018 (I.T.A.T., Delhi ) 6. CIT vs. Jasvinder Kaur (2013) 37 taxmann.com 286 (Gauhati High Court) 7. Chandan Gupta vs. CIT (2015) 54 taxmann.com 10 (Punjab & Haryana HC) 13. Per contra Ld. counsel for the assessee ve…

Sanjay Kaul, New Delhi vs. ITO, Ward-24(4), New Delhi

In the result, the appeal of the assessee is dismissed

ITA 1593/DEL/2019[2015-16]Status: DisposedITAT Delhi07 Jan 2020AY 2015-16

Bench: Shri H.S. Sidhu & Shri O.P. Kantassessment Year: 2015-16

Section 115BSection 143(2)Section 143(3)Section 68Section 69CSection 70

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2015-16 Shri Sanjay Kaul, Vs. ITO, C/o- Deepak Kapoor, Ward-24(4), Advocate, 59, Nehru New Delhi Apartments, Outyer Ring Road, Kalkaji, New Delhi PAN :AAAPK2580P (Appellant) (Respondent) Appellant by Shri Deepak Kapoor, Adv. Respondent by Shri Shailesh Kumar, Sr.DR Date of hearing 16.10.2019 Date of pronouncement 07.01.2020 ORDER PER O.P. KANT, AM: This appeal by the assessee is directed against order dated 14/01/2019 passed by the ld. Commissioner…

Sajan Kumar Jain, Delhi vs. DCIT, Central Circle-25, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5949/DEL/2018[2013-14]Status: DisposedITAT Delhi30 Jul 2019AY 2013-14

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

Section 127Section 132Section 153ASection 153C

…ns filed in the Court at the time of hearing which includes: i) Udit Kalra vs. ITO 2019-TIOL-751-HC-DEL-IT. ii) Sanjay Bimalchand Jain L/H Shantidevi Bimalchand Jain vs. PCIT (ITA No. 18/2018 Bombay High Court (Nagpur Bench.). iii) Pooja Ajmani vs. ITO (2009) 106 Taxmann.com 65 (Delhi-Trib.) iv) Abhimanyu Soin Vs. ACIT 2018-TIOL-833-ITAT-CHD v) Anip Rastogi vs. ITO (ITA No. 3809/Del/2018). vi) Smt. MK Rajeshwari vs. ITO (ITA No. 1723/Bang./2018) vii) Chandan Guta vs CIT (2015) 54 taxmann.com 10 (Punjab & Haryana) (2015) 229 Taxman 173. viii) Balbir Chand Maini vs. CIT (2011) 12 taxmann.com 276 (Punjab and Haryana…

Anand Kumar Jain, Faridabad vs. DCIT, Central Circle-25, New Delhi

In the result, the appeal of the assessee is allowed

ITA 4723/DEL/2018[2014-15]Status: DisposedITAT Delhi30 Jul 2019AY 2014-15

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

Section 127Section 132Section 153ASection 153C

…ns filed in the Court at the time of hearing which includes: i) Udit Kalra vs. ITO 2019-TIOL-751-HC-DEL-IT. ii) Sanjay Bimalchand Jain L/H Shantidevi Bimalchand Jain vs. PCIT (ITA No. 18/2018 Bombay High Court (Nagpur Bench.). iii) Pooja Ajmani vs. ITO (2009) 106 Taxmann.com 65 (Delhi-Trib.) iv) Abhimanyu Soin Vs. ACIT 2018-TIOL-833-ITAT-CHD v) Anip Rastogi vs. ITO (ITA No. 3809/Del/2018). vi) Smt. MK Rajeshwari vs. ITO (ITA No. 1723/Bang./2018) vii) Chandan Guta vs CIT (2015) 54 taxmann.com 10 (Punjab & Haryana) (2015) 229 Taxman 173. viii) Balbir Chand Maini vs. CIT (2011) 12 taxmann.com 276 (Punjab and Haryana…

Satish Dev Jain, Delhi vs. DCIT, Central Circle-25, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5955/DEL/2018[2015-16]Status: DisposedITAT Delhi30 Jul 2019AY 2015-16

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

Section 127Section 132Section 153ASection 153C

…ns filed in the Court at the time of hearing which includes: i) Udit Kalra vs. ITO 2019-TIOL-751-HC-DEL-IT. ii) Sanjay Bimalchand Jain L/H Shantidevi Bimalchand Jain vs. PCIT (ITA No. 18/2018 Bombay High Court (Nagpur Bench.). iii) Pooja Ajmani vs. ITO (2009) 106 Taxmann.com 65 (Delhi-Trib.) iv) Abhimanyu Soin Vs. ACIT 2018-TIOL-833-ITAT-CHD v) Anip Rastogi vs. ITO (ITA No. 3809/Del/2018). vi) Smt. MK Rajeshwari vs. ITO (ITA No. 1723/Bang./2018) vii) Chandan Guta vs CIT (2015) 54 taxmann.com 10 (Punjab & Haryana) (2015) 229 Taxman 173. viii) Balbir Chand Maini vs. CIT (2011) 12 taxmann.com 276 (Punjab and Haryana…

Anand Kumar Jain, New Delhi vs. DCIT, Central Circle- 25, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5948/DEL/2018[2015-16]Status: DisposedITAT Delhi30 Jul 2019AY 2015-16

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

Section 127Section 132Section 153ASection 153C

…ns filed in the Court at the time of hearing which includes: i) Udit Kalra vs. ITO 2019-TIOL-751-HC-DEL-IT. ii) Sanjay Bimalchand Jain L/H Shantidevi Bimalchand Jain vs. PCIT (ITA No. 18/2018 Bombay High Court (Nagpur Bench.). iii) Pooja Ajmani vs. ITO (2009) 106 Taxmann.com 65 (Delhi-Trib.) iv) Abhimanyu Soin Vs. ACIT 2018-TIOL-833-ITAT-CHD v) Anip Rastogi vs. ITO (ITA No. 3809/Del/2018). vi) Smt. MK Rajeshwari vs. ITO (ITA No. 1723/Bang./2018) vii) Chandan Guta vs CIT (2015) 54 taxmann.com 10 (Punjab & Haryana) (2015) 229 Taxman 173. viii) Balbir Chand Maini vs. CIT (2011) 12 taxmann.com 276 (Punjab and Haryana…

Anand Kumar Jain, New Delhi vs. DCIT, Central Circle- 25, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5947/DEL/2018[2013-14]Status: DisposedITAT Delhi30 Jul 2019AY 2013-14

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

Section 127Section 132Section 153ASection 153C

…ns filed in the Court at the time of hearing which includes: i) Udit Kalra vs. ITO 2019-TIOL-751-HC-DEL-IT. ii) Sanjay Bimalchand Jain L/H Shantidevi Bimalchand Jain vs. PCIT (ITA No. 18/2018 Bombay High Court (Nagpur Bench.). iii) Pooja Ajmani vs. ITO (2009) 106 Taxmann.com 65 (Delhi-Trib.) iv) Abhimanyu Soin Vs. ACIT 2018-TIOL-833-ITAT-CHD v) Anip Rastogi vs. ITO (ITA No. 3809/Del/2018). vi) Smt. MK Rajeshwari vs. ITO (ITA No. 1723/Bang./2018) vii) Chandan Guta vs CIT (2015) 54 taxmann.com 10 (Punjab & Haryana) (2015) 229 Taxman 173. viii) Balbir Chand Maini vs. CIT (2011) 12 taxmann.com 276 (Punjab and Haryana…

Anand Jain HUF, New Delhi vs. DCIT, Central Circle- 25, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5946/DEL/2018[2015-16]Status: DisposedITAT Delhi30 Jul 2019AY 2015-16

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

Section 127Section 132Section 153ASection 153C

…ns filed in the Court at the time of hearing which includes: i) Udit Kalra vs. ITO 2019-TIOL-751-HC-DEL-IT. ii) Sanjay Bimalchand Jain L/H Shantidevi Bimalchand Jain vs. PCIT (ITA No. 18/2018 Bombay High Court (Nagpur Bench.). iii) Pooja Ajmani vs. ITO (2009) 106 Taxmann.com 65 (Delhi-Trib.) iv) Abhimanyu Soin Vs. ACIT 2018-TIOL-833-ITAT-CHD v) Anip Rastogi vs. ITO (ITA No. 3809/Del/2018). vi) Smt. MK Rajeshwari vs. ITO (ITA No. 1723/Bang./2018) vii) Chandan Guta vs CIT (2015) 54 taxmann.com 10 (Punjab & Haryana) (2015) 229 Taxman 173. viii) Balbir Chand Maini vs. CIT (2011) 12 taxmann.com 276 (Punjab and Haryana…

Anand Jain HUF, New Delhi vs. DCIT, Central Circle- 25, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5945/DEL/2018[2014-15]Status: DisposedITAT Delhi30 Jul 2019AY 2014-15

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

Section 127Section 132Section 153ASection 153C

…ns filed in the Court at the time of hearing which includes: i) Udit Kalra vs. ITO 2019-TIOL-751-HC-DEL-IT. ii) Sanjay Bimalchand Jain L/H Shantidevi Bimalchand Jain vs. PCIT (ITA No. 18/2018 Bombay High Court (Nagpur Bench.). iii) Pooja Ajmani vs. ITO (2009) 106 Taxmann.com 65 (Delhi-Trib.) iv) Abhimanyu Soin Vs. ACIT 2018-TIOL-833-ITAT-CHD v) Anip Rastogi vs. ITO (ITA No. 3809/Del/2018). vi) Smt. MK Rajeshwari vs. ITO (ITA No. 1723/Bang./2018) vii) Chandan Guta vs CIT (2015) 54 taxmann.com 10 (Punjab & Haryana) (2015) 229 Taxman 173. viii) Balbir Chand Maini vs. CIT (2011) 12 taxmann.com 276 (Punjab and Haryana…