Chanchal Bhagwatilal Gokhru v. Union of India

454 ITR 451High Court2023#9959 most cited

What is Chanchal Bhagwatilal Gokhru v. Union of India authority for?

Reassessment under section 147/148 is not permissible if the same issue, such as a penny stock transaction, was already considered during a scrutiny assessment under section 143(3) and no fresh tangible material is available. An addition under section 68 treating LTCG as bogus is unjustified if sale consideration was received through banking channels.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2025 to 2025.

Also referred to as

Chanchal Bhagwatilal Gokhru · section 147 · section 148 · section 143(3) · fresh tangible material · penny stock · bogus long term capital gain · section 68 · scrutiny assessment · reopening assessment

Also reported as

152 Taxmann.com 214

Sections most often in play

Section 10(38)Section 143(3)Section 147Section 148Section 153ASection 68Section 69CSection 132
Read the full judgment

Issues it is cited on

fresh tangible materialsection 2(40)material facts necessary for assessmentbogus long term capital gainfull and true disclosurebogus ltcglive linkkelvinatorpenny stocksection 10(38)price riggingentry operator

Judgments citing Chanchal Bhagwatilal Gokhru v. Union of India

Deputy Commissioner of Income Tax, Jalgaon vs. Taradevi Ratanlal Bafna, Jalgaon

In the result, all the above 6 appeals filed by the Revenue are dismissed and

ITA 497/PUN/2025[2013-14]Status: DisposedITAT Pune27 Oct 2025AY 2013-14

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Suchek Anchaliya andFor Respondent: Shri Amit Bobde, CIT
Section 10(38)Section 132Section 143(3)Section 147Section 148Section 153A

…ing Officer could not have reopened the assessment under the provisions of section 147 in absence of any fresh tangible material. 37. Referring to the decision of Hon'ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. UoI reported in (2023) 454 ITR 451 (Bom), the Ld. Counsel for the assessee submitted that the Hon'ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under section 148 for same transaction could not be issued as there was no fresh ta…

Assistant Commissioner of Income Tax, Jalgaon vs. Sidharth Ratanlal Bafna, Jalgaon

In the result, all the above 6 appeals filed by the Revenue are dismissed and

ITA 1565/PUN/2024[2018-19]Status: DisposedITAT Pune27 Oct 2025AY 2018-19

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Suchek Anchaliya andFor Respondent: Shri Amit Bobde, CIT
Section 10(38)Section 132Section 143(3)Section 147Section 148Section 153A

…ing Officer could not have reopened the assessment under the provisions of section 147 in absence of any fresh tangible material. 37. Referring to the decision of Hon'ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. UoI reported in (2023) 454 ITR 451 (Bom), the Ld. Counsel for the assessee submitted that the Hon'ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under section 148 for same transaction could not be issued as there was no fresh t…

Assistant Commissioner of Income Tax, Jalgaon vs. Sidharth Ratanlal Bafna, Jalgaon

In the result, all the above 6 appeals filed by the Revenue are dismissed and

ITA 1555/PUN/2024[2013-14]Status: DisposedITAT Pune27 Oct 2025AY 2013-14

Bench: Shri R. K. Panda & Ms Astha Chandra

For Respondent: S/Shri Suchek Anchaliya and
Section 10(38)Section 132Section 143(3)Section 147Section 148Section 153A

…ing Officer could not have reopened the assessment under the provisions of section 147 in absence of any fresh tangible material. 37. Referring to the decision of Hon'ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. UoI reported in (2023) 454 ITR 451 (Bom), the Ld. Counsel for the assessee submitted that the Hon'ble High Court in the said decision has held that where addition based on penny stock transaction had already 33 ITA Nos.1555/PUN/2024 & Ors CO Nos.2 to 5/PUN/2025 been considered while making scrutiny assessment under section 143(3), notice for reopening under section 148 for same t…

Income Tax Officer, Ward-1, Jalna vs. Ashish Omprakash Mantri, Jalna

In the result, all the appeals filed by the Revenue are dismissed

ITA 148/PUN/2024[2012]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…gh banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under material. 21. Referring to the decision of the Hon’ble Allahabad High Court in the case of PCIT vs. Smt. R…

Income Tax Officer, Ward 1, Jalna vs. Ashish Omprakash Mantri, Jalna

ITA 147/PUN/2024[2011]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND MS ASTHA CHANDRA, JUDICIAL MEMBER ITA Nos.140 & 141/PUN/2024 Assessment years : 2011-12 & 2012-13 ITO, Ward-1, Jalna Vs. (Appellant) Omprakash Asaram Mantri Abhay Oil Industries, Plot No.C-231, Old MIDC Area, Jalna – 431203 PAN: AAWPM2711J (Respondent) ITA Nos.142 & 143/PUN/2024 Assessment years : 2011-12 & 2012-13 ITO, Ward-1, Jalna Vs. (Appellant) Atul Omprakash Mantri Abhay Oil Industries, Plot No.C-231, Old MIDC Area, Jalna – 431203 PAN: ABEPM0285E (Respondent) ITA Nos.145 & 146/PUN/2024 Assessment years :…

Income Tax Officer, Ward -1, Jalna vs. Pramila Omprakash Mantri, Jalna

In the result, all the appeals filed by the Revenue are dismissed

ITA 146/PUN/2024[2012]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…gh banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under material. 21. Referring to the decision of the Hon’ble Allahabad High Court in the case of PCIT vs. Smt. R…

Income Tax Officer, Ward-1, Jalna vs. Pramila Omprakash Mantri, Jalna

In the result, all the appeals filed by the Revenue are dismissed

ITA 145/PUN/2024[2011]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…gh banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under material. 21. Referring to the decision of the Hon’ble Allahabad High Court in the case of PCIT vs. Smt. R…

Income Tax Officer, Ward-1, Jalna vs. Atul Omprakash Mantri, Jalna

In the result, all the appeals filed by the Revenue are dismissed

ITA 143/PUN/2024[2012]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…gh banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under material. 21. Referring to the decision of the Hon’ble Allahabad High Court in the case of PCIT vs. Smt. R…

Income Tax Officer, Ward-1, Jalna vs. Atul Omprakash Mantri, Jalna

In the result, all the appeals filed by the Revenue are dismissed

ITA 142/PUN/2024[2011]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…gh banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under material. 21. Referring to the decision of the Hon’ble Allahabad High Court in the case of PCIT vs. Smt. R…

Income Tax Officer, Ward-1, Jalna vs. Omprakash Asaram Mantri, Jalna

In the result, all the appeals filed by the Revenue are dismissed

ITA 141/PUN/2024[2012]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…gh banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under material. 21. Referring to the decision of the Hon’ble Allahabad High Court in the case of PCIT vs. Smt. R…

Income Tax Officer, Ward-1, Jalna vs. Omprakash Asaram Mantri, Jalna

In the result, all the appeals filed by the Revenue are dismissed

ITA 140/PUN/2024[2011]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…gh banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already been considered while making scrutiny assessment under section 143(3), notice for reopening under material. 21. Referring to the decision of the Hon’ble Allahabad High Court in the case of PCIT vs. Smt. R…

Chanchal Bhagwatilal Gokhru v. Union of India (454 ITR 451) — Cited in 11 Judgments | BharatTax