ACIT v. Kunvarji Finance Pvt. Ltd.

119 DTR 1Income Tax Appellate Tribunal#12055 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 358,232 Indian tax judgments — from 2017 to 2022.

Judgments citing ACIT v. Kunvarji Finance Pvt. Ltd.

Rajesh Kumar Khandelwal, Jaipur vs. Income Tax Officer, Ward – 2(1), Jaipur

In the result, the appeal of the assessee is allowed

ITA 14/JPR/2022[2010-11]Status: DisposedITAT Jaipur16 Aug 2022AY 2010-11
For Appellant: None (Written Submission)For Respondent: Shri Manoj Mehar (CIT) a
Section 143(3)Section 147Section 148Section 234ASection 271(1)(c)

…ustries in ITA no. 911/JP/2016 Assessment Year 2010-11 order dated 23.03.2017. The Hon'ble ITAT Jaipur Bench Jaipur has decided the case following the decision of Ahmedabad Bench in the case of Assistant Commissioner of Income Tax vs. Kunvarji Finance Pvt Ltd 119 DTR 1. In both these cases the Hon'ble ITAT Benches deleted the additions made on the allegation of misuse of client code modification. In view of the aforesaid facts the additions made in the case is unlawful and illegal. The same deserves to be deleted. The facts of the case are fully covered by the decisions cited above. 4. Addition is purely on assum…

Shri Sandeep Sharma, Aa5, Anita Colony, Bajaj Nagar, Jaipur vs. ACIT, Circle-6, Jaipur

In the result, appeal of the assessee is disposed off in light of aforesaid directions

ITA 1275/JPR/2019[2009-10]Status: DisposedITAT Jaipur24 Aug 2020AY 2009-10
For Appellant: Sh. P. C. Parwal (CA)For Respondent: Sh. K. C. Gupta (JCIT)
Section 143(3)Section 147Section 148

…essee has traded in derivatives during the whole year as can be seen from the ledger account of M/s C.M. Goenka Stock brokers Pvt Ltd. The ld. A/R has relied upon the decision of Ahmedabad Bench of the Tribunal in case of ACIT vs. Kunvarji Finance Pvt. Ltd., 119 DTR 1 (Ahd. Trib.) and submitted that the Tribunal has held that loss on account of client code modification less than 1% of the total transaction cannot be said to be unusually high or malafide when the modification was made on the same day. He has also relied upon the decision of Delhi Bench of the Tribunal in case of ITO vs. M/s. Abhishek Fincap S…

Karan Shanti Cold Storage Pvt. Ltd., Jaipur vs. ACIT, Bharatpur

In the result, appeal of the assessee is partly allowed

ITA 223/JPR/2017[2011-12]Status: DisposedITAT Jaipur23 Sept 2019AY 2011-12
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Ashok Khanna (JCIT)
Section 143(1)Section 143(3)Section 147Section 148

…ed the stock broker. Even otherwise, a reasonable tolerance range of punching error is considered as 5% of the total trades executed. The ld. A/R has relied upon the decision of Ahmedabad Bench of the Tribunal in case of ACIT vs. Kunvarji Finance Pvt. Ltd., 119 DTR 1 (Ahd. Trib.) and submitted that the Tribunal has held that loss on account of client code modification less than 1% of the total transaction cannot be said to be unusually high or malafide when the modification was made on the same day. He has also relied upon the decision of Delhi Benches of the Tribunal in case of ITO vs. M/s. Abhishek Fincap Ser…

Sanjay Kumar Jain, New Delhi vs. ITO Ward - 63(2), New Delhi

In the result, the appeal of the assessee is allowed

ITA 825/DEL/2019[2009-10]Status: DisposedITAT Delhi25 Jul 2019AY 2009-10

Bench: Sh. H.S. Sidhuassessment Year: 2009-10

Section 133(6)Section 147Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘SMC’, NEW DELHI BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER Assessment Year: 2009-10 Sanjay Kumar Jain, ITO, Ward 63(2), B-2/78, Ashok Vihar, Vs New Delhi Phase-II, New Delhi – 6 (PAN: AAGPJ2808K) (APPELLANT) (RESPONDENT) Appellant by Sh. Rajat Jain, FCA & Sh. Akshat Jain, FCA Respondent by Sh. S.L. Anuragi, Sr. DR. ORDER This appeal filed by the assessee is directed against the order dated 26.11.2018 of the CIT(A)-20, New Delhi relating to A. Y. 2009-10 on the following grounds:- i) That on the facts and in the circumstances of the case, the Ld. CIT(A) erred…

Shri Sandeep Sharma, Jaipur vs. Deputy Commissioner of Income Tax, Circle-6, Jaipur

In the result, appeal of the assessee is partly allowed

ITA 223/JPR/2019[2010-11]Status: DisposedITAT Jaipur21 May 2019AY 2010-11
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Ashok Khanna (JCIT)
Section 143(1)Section 143(3)Section 147Section 148

…ed the stock broker. Even otherwise, a reasonable tolerance range of punching error is considered as 5% of the total trades executed. The ld. A/R has relied upon the decision of Ahmedabad Bench of the Tribunal in case of ACIT vs. Kunvarji Finance Pvt. Ltd., 119 DTR 1 (Ahd. Trib.) and submitted that the Tribunal has held that loss on account of client code modification less than 1% of the total transaction cannot be said to be unusually high or malafide when the modification was made on the same day. He has also relied upon the decision of Delhi Benches of the Tribunal in case of ITO vs. M/s. Abhishek Fincap Ser…

Assistant Commissioner of Income Tax, Central Circle-4, Jaipur vs. Shri Gyandeep Khemka, Jaipur

In the result, the Revenue’s appeal and cross objection of

ITA 1274/JPR/2018[2010-11]Status: DisposedITAT Jaipur05 Mar 2019AY 2010-11
For Appellant: Shri Bhupendra Shah (C.A.)For Respondent: Shri Rajendra Singh (JCIT) fu/kZkfjrh dh vksj ls@
Section 14A

…vt. Ltd. has admitted that these transactions are not of the assessee. The reliance placed by him in case of McDowell & Co. Ltd. is thus misplaced and not applicable. 6. Reliance in this connection is placed in the case of ACIT Vs. Kunvarji Finance Pvt. Ltd. 119 DTR 1 (Ahd.) (Trib.) where it was held that as per Circular No. MCX/T&S/032/2007 dt. 22.01.2007 issued by the Commodity Exchange, client code modification is permitted intra-day i.e. on the same day. There is no penalty if the client code modification is upto 1 per cent of the total orders. In the present 13 ITA No. 1274/JP/2018 &CO No. 40/JP/2018 ACIT…

Mohan Aggarwal, New Delhi vs. ACIT, Central Circle- 15, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2497/DEL/2018[2009-10]Status: DisposedITAT Delhi31 Jan 2019AY 2009-10

Bench: Sh. R.K Pandaassessment Year: 2009-10

Section 132Section 133Section 133(6)Section 143Section 143(3)Section 147Section 148Section 153

…vt. Ltd. has admitted that these transactions are not of the assessee. The reliance placed by him in case of McDowell & Co. Ltd. is thus misplaced and not applicable. 6. Reliance in this connection is placed in the case of ACIT Vs. Kunvarji Finance Pvt. Ltd. 119 DTR 1 (Ahd.) (Trib.) where it was held that as per 12 Circular No. MCX/T&S/032/2007 dt. 22.01.2007 issued by the Commodity Exchange, client code modification is permitted intra-day i.e. on the same day. There is no penalty if the client code modification is upto 1 per cent of the total orders. In the present case, client code modifications made by the as…

Noble Securities, Jaipur vs. ITO, Alwar

In the result, the appeal of the assessee is partly allowed

ITA 911/JPR/2016[2010-11]Status: DisposedITAT Jaipur23 Mar 2017AY 2010-11
For Appellant: Shri P.C. Parwal, CAFor Respondent: Smt. Poonam Rai, DCIT-. DR
Section 148

…vt. Ltd. has admitted that these transactions are not of the assessee. The reliance placed by him in case of McDowell & Co. Ltd. is thus misplaced and not applicable. 6. Reliance in this connection is placed in the case of ACIT Vs. Kunvarji Finance Pvt. Ltd. 119 DTR 1 (Ahd.) (Trib.) where it was held that as per Circular No. MCX/T&S/032/2007 dt. 22.01.2007 issued by the Commodity Exchange, client code modification is permitted intra-day i.e. on the same day. There is no penalty if the client code modification is upto 1 per cent of the total orders. In the present case, client code modifications made by the asses…

ACIT v. Kunvarji Finance Pvt. Ltd. (119 DTR 1) — Cited in 8 Judgments | BharatTax