Bharali (2014) 361 ITR 481 (Gauhati) (b) Sanjay Bimalchand Jain v. Pr.CIT

409 ITR 124High Court2018#5280 most cited

What is Bharali (2014) 361 ITR 481 (Gauhati) (b) Sanjay Bimalchand Jain v. Pr.CIT authority for?

The issue of 'Penny Stocks' is a subject of numerous High Court and Tribunal decisions, with some rulings favouring the revenue.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2025.

Also referred to as

Sanghamitra Bharali · Penny Stocks · CIT vs Sanghamitra Bharali · share application money · tangible material · borrowed satisfaction · colourable device · escapement of income · section 4(1) · section 147(a) · section 292bb · section 292b · section 292 · section 29 · change of opinion

Issues it is cited on

section 4(1)section 147(a)section 292bbcolourable devicesection 292bborrowed satisfactionsection 292change of opinionshare application moneysection 29tangible materialescapement of income

Judgments citing Bharali (2014) 361 ITR 481 (Gauhati) (b) Sanjay Bimalchand Jain v. Pr.CIT

Shaik Abdul Aziz, Karimnagar vs. Income Tax Officer, Ward-1, Karimnagar

Appeal are allowed for statistical purposes

ITA 1563/HYD/2017[2012-13]Status: DisposedITAT Hyderabad27 Mar 2019AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri A.C. Gangaiah, ARFor Respondent: Shri Nilajan Dey, DR
Section 143(2)Section 143(3)Section 148Section 151Section 153(2)Section 68

…on the other hand, relied on the order of Ld.CIT(A) and further submitted a copy of the order sheet to highlight that Assessing Officer has reason to believe the escapement of income. Further, he relied on the case of Purviben Snehalbhai Panchhigar Vs. ACIT [409 ITR 124] (Guj) on the issue of addition made by the Assessing Officer. 5. Considered the rival submissions and perused the material on record. Before us, assessee filed additional grounds of appeal, stressing the legal point that Assessing Officer cannot issue 148 notice when there is a time to issue 143(2) notice supported with :- 5 -: ITA Nos. 1562, 1…

Sultana Rafat, Karimnagar vs. Income Tax Officer, Ward-1, Karimnagar

Appeal are allowed for statistical purposes

ITA 1562/HYD/2017[2013-14]Status: DisposedITAT Hyderabad27 Mar 2019AY 2013-14

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri A.C. Gangaiah, ARFor Respondent: Shri Nilajan Dey, DR
Section 143(2)Section 143(3)Section 148Section 151Section 153(2)Section 68

…on the other hand, relied on the order of Ld.CIT(A) and further submitted a copy of the order sheet to highlight that Assessing Officer has reason to believe the escapement of income. Further, he relied on the case of Purviben Snehalbhai Panchhigar Vs. ACIT [409 ITR 124] (Guj) on the issue of addition made by the Assessing Officer. 5. Considered the rival submissions and perused the material on record. Before us, assessee filed additional grounds of appeal, stressing the legal point that Assessing Officer cannot issue 148 notice when there is a time to issue 143(2) notice supported with :- 5 -: ITA Nos. 1562, 1…