CIT-I v. Maheshchandra G. Vakil

40 Taxmann.com 326High Court2013#1633 most cited

What is CIT-I v. Maheshchandra G. Vakil authority for?

An Assessing Officer is not justified in treating capital gain from the sale of shares as unexplained cash credit when the assessee proves the genuineness of share transactions with contract notes, broker's bank statements, DMAT accounts, and stock exchange abstracts.

69

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2026.

Also referred to as

CIT v. Maheshchandra G. Vakil · Section 68 · Section 10(38) · genuineness of share transactions · long term capital gain · bogus LTCG · unexplained cash credit · DMAT accounts · contract notes

Sections most often in play

Section 68Section 143(3)Section 10(38)Section 147Section 148Section 133(6)Section 132(4)Section 142(1)

Issues it is cited on

price riggingbogus long term capital gainpenny stockbogus ltcgsection 10(38)entry operatorlong term capital gainsaccommodation entrylong term capital gaingenuineness of the transactionsection 10unexplained cash credit

Judgments citing CIT-I v. Maheshchandra G. Vakil

Bhavesh Subodhbhai Sanghavi, Surat vs. DCIT Circle 1(3), Surat

In the result, the appeal of the assessee is allowed

ITA 289/SRT/2025[2013-14]Status: HeardITAT Surat23 Jan 2026AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice-Ms Suchitra Kamblebhavesh Subodhbhai Sanghavi, Deputy Commissioner Of Vs. 401, Rajhans Maxima, Income Tax, Nr. Raghu Ramji Party Plot, Circle-1(3), Umra, Surat. Surat-395007. [Pan : Ablps0009B] (Appellant) .. (Respondent) Appellant By : Shri Kiran K Shah, Ar Respondent By: Shri Ajay Uke, Sr. Dr Date Of Hearing 21.01.2026 Date Of Pronouncement 23.01.2026 O R D E R Per Dr. B.R.R. Kumar, Vice-:-

For Appellant: Shri Kiran K Shah, ARFor Respondent: Shri Ajay Uke, Sr. DR
Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT Ms SUCHITRA KAMBLE, JUDICIAL MEMBER Bhavesh Subodhbhai Sanghavi, Deputy Commissioner of Vs. 401, Rajhans Maxima, Income Tax, Nr. Raghu Ramji Party Plot, Circle-1(3), Umra, Surat. Surat-395007. [PAN : ABLPS0009B] (Appellant) .. (Respondent) Appellant by : Shri Kiran K Shah, AR Respondent by: Shri Ajay Uke, Sr. DR Date of Hearing 21.01.2026 Date of Pronouncement 23.01.2026 O R D E R PER DR. B.R.R. KUMAR, VICE-PRESIDENT:- This appeal has been filed by the Assessee against the order dated 19.06.2025 passed by the Ld. C…

Arun Kumar Gupta, DCIT, Circle-1(3), Surat, Adajan vs. Chunibhai Haribhai Gajera, Adarsh Nagar Society

In the result, the appeal of the revenue is dismissed

ITA 779/SRT/2023[2014-15]Status: DisposedITAT Surat17 Nov 2025AY 2014-15

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.778 & 779/Srt/2023 Assessment Years: (2013-14 & 2014-15) (Physical Hearing) Dcit, Vs. Chunibhai Haribhai Gajera, Circle - 1(3), 67, Adarsh Nagar Society, Athwalines, Surat Surat - 395 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aawpg3525A (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mukesh Jain, Cit-Dr Respondent By Shri Rasesh Shah, Ca Date Of Hearing 03/09/2025 Date Of Pronouncement 17/11/2025

Section 143(3)Section 250

…IN THE INCOME-TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER & SHRI BIJAYANANDA PRUSETH, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.778 & 779/SRT/2023 Assessment Years: (2013-14 & 2014-15) (Physical hearing) DCIT, Vs. Chunibhai Haribhai Gajera, Circle - 1(3), 67, Adarsh Nagar Society, Athwalines, Surat Surat - 395 001 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAWPG3525A (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant by Shri Mukesh Jain, CIT-DR Respondent by Shri Rasesh Shah, CA Date of Hearing 03/09/2025 Date of Pronouncement 17/11/2025 आदेश / O R D E R PER BENCH: These two ap…

Arun Kumar Gupta, DCIT, Circle-1(3), Surat, Adajan vs. Chunibhai Haribhai Gajera, Adarsh Nagar Society

In the result, the appeal of the revenue is dismissed

ITA 778/SRT/2023[2013-14]Status: DisposedITAT Surat17 Nov 2025AY 2013-14

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.778 & 779/Srt/2023 Assessment Years: (2013-14 & 2014-15) (Physical Hearing) Dcit, Vs. Chunibhai Haribhai Gajera, Circle - 1(3), 67, Adarsh Nagar Society, Athwalines, Surat Surat - 395 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aawpg3525A (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mukesh Jain, Cit-Dr Respondent By Shri Rasesh Shah, Ca Date Of Hearing 03/09/2025 Date Of Pronouncement 17/11/2025

Section 143(3)Section 250

…IN THE INCOME-TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER & SHRI BIJAYANANDA PRUSETH, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.778 & 779/SRT/2023 Assessment Years: (2013-14 & 2014-15) (Physical hearing) DCIT, Vs. Chunibhai Haribhai Gajera, Circle - 1(3), 67, Adarsh Nagar Society, Athwalines, Surat Surat - 395 001 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAWPG3525A (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant by Shri Mukesh Jain, CIT-DR Respondent by Shri Rasesh Shah, CA Date of Hearing 03/09/2025 Date of Pronouncement 17/11/2025 आदेश / O R D E R PER BENCH: These two ap…

Income Tax Officer 11(2)(1), Mumbai vs. Shrem Alloys Private Limited, Mumbai

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

ITA 2192/MUM/2025[2014-15]Status: DisposedITAT Mumbai10 Sept 2025AY 2014-15

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

Section 143(3)Section 147Section 148Section 153ASection 68

…Toshniwal HUF vs. ITO i) Dolarrai Hemani vs. ITO ITA No. 19/Kol/2014 (Kolkata Tribunal) j) CIT vs. Himani M. Vakil** 41 Taxmann.com 425 (Gujarat High Court) k) CIT vs. Sumitra Devi** 49 Taxmann.com 37 (Rajasthan High Court) l) CIT vs. Maheshchandra G. Vakil** 40 Taxmann.com 326 (Gujarat High Court) x) Special reference has been made to the decision of Hon’ble Tribunal in the case of the director of the appellant Shri. Nitan Chhatwal, Shri. Hitesh Chhatwal and Smt. Smita Chhatwal in ITA No. 5065,5039,5040/Mum/2018 dated 08.06.2020 and in the case of Shri. Nitan Chhatwal in ITA No.6423/Mum/2019 wherein the share tr…

Income Tax Officer 11 (2) (1), Mumbai vs. Everfine Alloys Private Limited, Mumbai

In the result, all the appeals filed by the Revenue

ITA 2186/MUM/2025[2015-16]Status: DisposedITAT Mumbai10 Sept 2025AY 2015-16
Section 143(3)Section 147Section 148Section 153ASection 68

…16 (Kolkata Tribunal) i) Dolarrai Hemani vs. ITO ITA No. 19/Kol/2014 (Kolkata Tribunal) j) CIT vs. Himani M. Vakil** 41 Taxтапп.com 425 (Gujarat High Court) k) CIT vs. Sumitra Devi** 49 Тахтапп.com 37 (Rajasthan High Court) 1) CIT vs. Maheshchandra G. Vakil** 40 Taxmann.com 326 (Gujarat High Court) x) Special reference has been made to the decision of Hon'ble Tribunal in the case of the director of the appellant Shri. Nitan Chhatwal, Shri. Hitesh Chhatwal and Smt. Smita Chhatwal in ITA No. 5065,5039,5040/Muт/2018 dated 08.06.2020 and in the case of Shri. Nitan Chhatwal in ITA No.6423/Mum/2019 wherein the share tr…

Income Tax Officer, Mumbai vs. Everfine Alloys Private Limited, Mumbai

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

ITA 2185/MUM/2025[2013-14]Status: DisposedITAT Mumbai10 Sept 2025AY 2013-14

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

Section 143(3)Section 147Section 148Section 153ASection 68

…Toshniwal HUF vs. ITO i) Dolarrai Hemani vs. ITO ITA No. 19/Kol/2014 (Kolkata Tribunal) j) CIT vs. Himani M. Vakil** 41 Taxmann.com 425 (Gujarat High Court) k) CIT vs. Sumitra Devi** 49 Taxmann.com 37 (Rajasthan High Court) l) CIT vs. Maheshchandra G. Vakil** 40 Taxmann.com 326 (Gujarat High Court) x) Special reference has been made to the decision of Hon’ble Tribunal in the case of the director of the appellant Shri. Nitan Chhatwal, Shri. Hitesh Chhatwal and Smt. Smita Chhatwal in ITA No. 5065,5039,5040/Mum/2018 dated 08.06.2020 and in the case of Shri. Nitan Chhatwal in ITA No.6423/Mum/2019 wherein the share tr…

Late Smt. Priti A. Gandhi L/R. Shri Anilbhai A. Gandhi, Rajkot vs. The Pr. CIT-1, Rajkot

ITA 57/RJT/2021[2015-16]Status: DisposedITAT Rajkot17 Mar 2025AY 2015-16
Section 10(38)Section 143(3)Section 24Section 244ASection 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपीलसं./ITA Nos.51/RJT/2021 (निर्धारणवर्ष / Assessment Year: (2015-16) Pari Anil Gandhi, "Gandhi House:, Shanti Niketan Society, Kalawad Road, Rajkot 360001 Vs. (Physical Hearing) The Pr. CIT, Rajkot - 1 स्थायीलेखासं./जीआइआरसं./PAN/GIR No.: BAHPG7804E (Appellant) (Respondent) आयकर अपीलसं./ITA Nos.57/RJT/2021 (निर्धारणवर्ष / Assessment Year: (2015-16) Late Smt. Priti Anil Gandhi, L/h. Shri Anilbhai A. Gandhi, "Gandhi House", Shanti Niketan Soceity, Kalawad Road,…

Miss Pari Anil Gandhi, Rajkot vs. The Pr. CIT-1, Rajkot

ITA 51/RJT/2021[2015-16]Status: DisposedITAT Rajkot17 Mar 2025AY 2015-16
Section 10(38)Section 143(3)Section 24Section 244ASection 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपीलसं./ITA Nos.51/RJT/2021 (निर्धारणवर्ष / Assessment Year: (2015-16) (Physical Hearing) Pari Anil Gandhi, Vs. The Pr. CIT, "Gandhi House:, Shanti Niketan Rajkot - 1 Society, Kalawad Road, Rajkot 360001 स्थायीलेखासं./जीआइआरसं./PAN/GIR No.: BAHPG7804E (Appellant) (Respondent) आयकर अपीलसं./ITA Nos.57/RJT/2021 (निर्धारणवर्ष / Assessment Year: (2015-16) Late Smt. Priti Anil Gandhi, Vs. The Pr. CIT, L/h. Shri Anilbhai A. Gandhi, Rajkot - 1 "Gandhi House", Shanti Ni…

The DCIT, Central Circle-1(1), Ahmedabad vs. Shri Rajendra J Keshwani (HUF), Ahmedabad

The appeal of the Revenue is dismissed

ITA 30/AHD/2021[2015-16]Status: DisposedITAT Ahmedabad18 Feb 2025AY 2015-16

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.30/Ahd/2021 िनधा"रण वष" /Assessment Year : 2015-16 The Dcit Shri Rajendra J. Keshwani बनाम/ Central Circle-1(1) (Huf) V/S. Ahmedabad-380 009 44, Asopalav Bungalows Nr.Muktidham Jain Temple Thaltej, Ahmedabad "थायी लेखा सं./Pan: Aaehk 1973 J अपीलाथ%/ (Appellant) &' यथ%/ (Respondent) Assessee By : Shri M.K. Patel, Advocate Revenue By : Shri Kavan Limbasiya, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 12/02/2025 घोषणा की तारीख /Date Of Pronouncement: 18/02/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

For Appellant: Shri M.K. Patel, AdvocateFor Respondent: Shri Kavan Limbasiya, Sr.DR
Section 10(38)Section 143(1)Section 143(2)Section 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “बी“, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ B ” BENCH, AHMEDABAD सु"ी सुिच"ा का"ले, "ाियक सद" एवं "ी मकरंद वसंत महादेवकर, लेखा सद" के सम"। ] ] BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER आयकर अपील सं /ITA No.30/Ahd/2021 िनधा"रण वष" /Assessment Year : 2015-16 The DCIT Shri Rajendra J. Keshwani बनाम/ Central Circle-1(1) (HUF) v/s. Ahmedabad-380 009 44, Asopalav Bungalows Nr.Muktidham Jain Temple Thaltej, Ahmedabad "थायी लेखा सं./PAN: AAEHK 1973 J अपीलाथ%/ (Appellant) &' यथ%/ (Respondent) Assessee by : Shri M.K. Pate…

Meena Hasmukh Savla, Matunga Mumbai vs. Assessment Unit, National Faceless Assessment Centre

In the result the appeal filed by the assessee is

ITA 2910/MUM/2024[2016-17]Status: DisposedITAT Mumbai18 Feb 2025AY 2016-17

Bench: Hon’Ble Shri Sandeep Gosain

Section 10Section 10(38)Section 143Section 143(1)Section 143(2)Section 147Section 148Section 151Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL "SMC" BENCH MUMBAI BEFORE HON’BLE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER ITA No. 2910/Mum/2024 (Assessment Year: 2016-17) Meena Hasmukh Savla 702, Pranav Residency, 302 Bhimani Street, Matunga, Mumbai. Vs. ITO – 27(2)(1) Vashi Railway Stn Bldg, Vashi. PAN/GIR No. AADPS1482K (Applicant) (Respondent) Assessee by Shri Satyaprakash Singh Revenue by Shri Sunny Kachhwaha, Sr. DR Date of Hearing 23.01.2025 Date of Pronouncement 18.02.2025 आदेश / ORDER PER SANDEEP GOSAIN, JM: The present appeal has been filed by the assessee challenging the impugned order 13.05.2024 passed u/s 2…

DCIT, Central Circle-1(1), Ahmedabad vs. Smt. Denisha Rajendra Keshwani, Ahmedabad

Appeal is dismissed

ITA 39/AHD/2021[2015-16]Status: DisposedITAT Ahmedabad06 Feb 2025AY 2015-16

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.39/Ahd/2021 िनधा"रण वष" /Assessment Year : 2015-16 The Dcit Smt. Denisha Rajendra बनाम/ Central Circle-1(1) Keshwani V/S. Ahmedabad – 380 009 44, Asopalav Bungalows Nr.Muktidham Temple Thaltej, Ahmedabad – 380 054 (Gujarat) "थायी लेखा सं./Pan: Ahzpk 0889 K (अपीलाथ$/ Appellant) (%& यथ$/ Respondent) Assessee By : Shri Mehul K. Patel, Ar Revenue By : Shri Rignesh Das, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 30/01/2025 घोषणा की तारीख /Date Of Pronouncement: 06/02/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am: The Present Appeal Has Been Filed By The Revenue Against The Order Of The Commissioner Of Income Tax (Appeals)-11, Ahmedabad [Hereinafter Referred To As “Cit(A)”], Dated 22.01.2021, For The Assessment Year (Ay) 2015-16, Wherein The Cit(A) Has Deleted The Addition Of Rs.1,17,78,534/- Made Under Section 68 Of The Income Tax Act, 1961 [Hereinafter Referred To As “The Act”] By The Dy. Commissioner Of Income Tax, Central Circle – 1(1), Dcit Vs. Smt. Denisha Rajendra Keshwani Asst. Year : 2015-16

For Appellant: Shri Mehul K. Patel, ARFor Respondent: Shri Rignesh Das, Sr.DR
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “सी“,अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ C ” BENCH, AHMEDABAD "ी टी.आर. से""ल कुमार, "ाियक सद" एवं "ी मकरंद वसंत महादेवकर, लेखा सद" के सम!। ] ] BEFORE SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER आयकर अपील सं /ITA No.39/Ahd/2021 िनधा"रण वष" /Assessment Year : 2015-16 The DCIT Smt. Denisha Rajendra बनाम/ Central Circle-1(1) Keshwani v/s. Ahmedabad – 380 009 44, Asopalav Bungalows Nr.Muktidham Temple Thaltej, Ahmedabad – 380 054 (Gujarat) "थायी लेखा सं./PAN: AHZPK 0889 K (अपीलाथ$/ Appellant) (%& यथ$/ Respondent) Asses…

The ACIT, Circle-2(1)(2), Ahmedabad vs. Kunvarji Finance Pvt. Ltd., Ahmedabad

ITA 2147/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad02 Jul 2024AY 2014-15

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2014-15 The Acit Kunvarji Finance Pvt.Ltd. Circle-2(1)(2) Vs Block B, 1St Floor Ahmedabad Siddhi Vinayak Tower Off S.G. Highway Mouje Makarba, Ahmedabad Pan: Aaack 8759 R अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Bandish Soparkar, Ar Revenue By : Smt. Malarkodi R., Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 20/06/2024 घोषणा क" तार"ख /Date Of Pronouncement: 02/07/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am:

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Smt. Malarkodi R., Sr.DR
Section 106Section 143(1)Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ “B”, अहमदाबाद अहमदाबाद "यायपीठ अहमदाबाद अहमदाबाद । अहमदाबाद IN THE INCOME TAX APPELLATE TRIBUNAL “ B ” BENCH, AHMEDABAD ] ] BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTNAT MEMBER Assessment Year : 2014-15 The ACIT Kunvarji Finance Pvt.Ltd. Circle-2(1)(2) Vs Block B, 1st Floor Ahmedabad Siddhi Vinayak Tower Off S.G. Highway Mouje Makarba, Ahmedabad PAN: AAACK 8759 R अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Bandish Soparkar, AR…

The ITO, Ward-1(2)(3), Ahmedabad vs. Shri Mahesh Somabhai Patel, Ahmedabad

In the result, the appeal of the Revenue is dismissed

ITA 1854/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad19 Jun 2024AY 2014-15

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 10Section 10(38)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH Before: Smt. Annapurna Gupta, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member Assessment Year 2014-15 The ITO, Ward-1(2)(3), Shri Mahesh Ahmedabad Somabhai Patel Vs 28, Anurag Bunglow, Nr. B.R. Park, Science City, Sola, Ahmedabad-380061 (Appellant) PAN: ACCPP4215C (Respondent) Revenue Represented: Smt. Malarkodi. R. Sr. D.R. Assessee Represented: Shri Anil Kshatriya, Advocate Date of hearing : 26-03-2024 Date of pronouncement : 19-06-2024 आदेश/ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:- This appeal is filed by the Revenue as a…

Nawal Basudeo Agarwal, Mumbai vs. National Faceless Appeal Centre (NFAC), Delhi

In the result, the appeal filed by the assessee is allowed

ITA 4419/MUM/2023[2014-15]Status: DisposedITAT Mumbai10 May 2024AY 2014-15

Bench: Shri Pavan Kumar Gadale & Ms Padmavathy S

Section 10(38)Section 143(3)Section 234ASection 271(1)(c)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, “B” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER I.T.A. No.4419/MUM/2023 (A.Y.2014-15) ITO,Ward-24(3)(1), NawalBasudeoAgarwal, Vs. Room.no.415,4 th Floor, 1601, Kanchan Ganga, Piramal chambers, Manish Nagar, Lalbaug, J.P.Road, Andheri (W), Parel, Mumbai-400053. Mumbai-400012. PAN/GIR No. AABPA1746L (अपीलाथ"/Applicant) (""यथ"/Respondent) Assessee by Shri.Vimal Punmiya.AR Revenue by Shri.Ashish Kumar.Sr.DR सुनवाई क" तार"ख/Date of Hearing 01.05.2024 घोषणा क" तार"ख/Date of Pronouncement 10.05.2024 ORDER PER PAVAN KUMAR GADA…

Sanjay Basudeo Agarwal, Mumbai vs. Income Tax Officer 25(1)(1), Bandra Kurla Complex

In the result, the appeal filed by the assessee is allowed”

ITA 2398/MUM/2023[2014-15]Status: DisposedITAT Mumbai12 Dec 2023AY 2014-15

Bench: Shri Pavan Kumar Gadalesanjay Basudeo Agarwal, Vs Ito, Ward - 25(1)(1), 1601, Kanchan Ganga, Kautilya Bhawan, J.P Road, Manishnagar, G- Block,Bkc, Andheri (W), Bandra Kurla Complex, Mumbai-400053. Mumbai-400051. Pan/Gir No. : Aabpa1748E Appellant .. Respondent

For Appellant: Shri Vimal Punmiya.ARFor Respondent: Shri.UjjawalkumarChavhanSr.DR
Section 10(38)Section 143(3)Section 234ASection 271(1)(c)Section 68Section 69

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Sanjay Basudeo Agarwal, Vs ITO, Ward - 25(1)(1), 1601, Kanchan Ganga, Kautilya Bhawan, J.P Road, ManishNagar, G- Block,BKC, Andheri (W), Bandra Kurla complex, Mumbai-400053. Mumbai-400051. PAN/GIR No. : AABPA1748E Appellant .. Respondent Assessee by : Shri Vimal Punmiya.AR Revenue by : Shri.UjjawalkumarChavhanSr.DR Date of Hearing 08.12.2023 Date of Pronouncement 21.12.2023 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The appeal is filed by the assessee against the order of the National Faceless Appeal Cen…

Genuine Finance Pvt. Ltd., Ahmedabad vs. The DCIT, Circle-2(1)(1), Ahmedabad

The appeal of the assessee is allowed

ITA 221/AHD/2021[2012-13]Status: DisposedITAT Ahmedabad28 Oct 2022AY 2012-13

Bench: Ms. Suchitra Kamble

For Appellant: Shri Pankaj K. Shah, A.RFor Respondent: Shri Rakesh Jha, Sr. DR
Section 10(38)Section 139(1)Section 143(3)Section 148Section 44A

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, AHMEDABAD BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A. No.221/Ahd/2021 (Assessment Year: 2012-13) Genuine Finance Pvt. Ltd. Vs. DCIT 15, Haridwar, 23 Patel Society, Circle-2(1)(1), Opp. Associated Petrol Pump, Ahmedabad C. G. Road, Ahmedabad-380006 [PAN No.AABCG2937L] (Appellant) .. (Respondent) Appellant by : Shri Pankaj K. Shah, A.R. Respondent by: Shri Rakesh Jha, Sr. DR Date of Hearing 13.09.2022 Date of Pronouncement 28.10.2022 O R D E R This appeal is filed by the assessee against the order dated 02.08.2019 passed by the Ld. CIT(Appeals), National F…

The DCIT, Circle-1(1)(2), Ahmedabad vs. Shri Sanjay Chimanlal Agrawal, Ahmedabad

In the result, the appeal of the Revenue is dismissed and the cross objection of the assessee is hereby allowed

ITA 1580/AHD/2019[2013-14]Status: DisposedITAT Ahmedabad30 Mar 2022AY 2013-14

Bench: Us Against The Order Of Ld. Cit(A)-1, Ahmedabad Dated 30/08/2019. The Revenue Has Raised Following Grounds Of Appeal:-

For Appellant: Ms. Nupur Shah, A.RFor Respondent: Shri Rajdeep Singh, Sr. D.R
Section 143(3)Section 148Section 68

…ounted money. A transaction of purchase and sale of shares supported by contract notes, DMAT accounts and account payee cheque cannot be treated as bogus. The Honourable Gujarat High Court in the case of Commissioner of Income Tax-1 Vs. MaheshchandraG. Vakil [40 Taxmann.com 326] has held that where assessee prove genuineness of share transactions by contract notes for sales and purchase, bank statement of broker, DMAT accounts showing transfer in and out of shares as also abstract of transactions furnished by stock exchange, AO is not justified in treating capital gain arising from sale of shares as unexplained c…

Smt. Reshmiben P. Kanugo, Vadodara vs. ITO, Ward-3(1)(3), Vadodara

In the result appeal filed the assessee is allowed

ITA 2131/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad28 Feb 2022AY 2014-15

Bench: Shri Waseem Ahmed & Shri Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 2131/Ahd/2018 2014-15 Smt. Reshmiben P. Income Tax Kanugo, Officer, 26, Jawahar Society, Nr. Ward 3(1)(3), Bakrawadi, R.V. Desai Vadodara. Road, Vadodara, Gujarat-390001. Pan: Azupk6721B 2. 2132/Ahd/2018 2014-15 Shri Alpesh P. Income Tax Kanugo(Huf), Officer, 26, Jawahar Society, Ward 3(1)(3), Nr. Bakrawadi, Ahmedabad. R.V. Desai Road, Vadodara-390001. Pan: Aajha5173P 3. 2133/Ahd/2018 2014-15 Shri Parasmal B. Kanugo Income Tax Officer, (Huf), Ward-3(1)(3), 26, Jawahar Society, Nr. Ahmedabad. Bakrawadi, R.V. Desai Road, Vadodara, Gujarat-390001. Pan: Aakhp0126Q

For Appellant: Shri K.P. Singh, A.RFor Respondent: Shri Mukesh Jain, Sr.D.R
Section 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ SMC’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And SHRI MADHUMITA ROY, ACCOUNTANT MEMBER Sl. ITA No(s) Asset. Appeal(s) by No(s) Year(s) Appellant vs. Respondent Appellant Respondent 1. 2131/Ahd/2018 2014-15 Smt. Reshmiben P. Income Tax Kanugo, officer, 26, Jawahar Society, Nr. Ward 3(1)(3), Bakrawadi, R.V. Desai Vadodara. Road, Vadodara, Gujarat-390001. PAN: AZUPK6721B 2. 2132/Ahd/2018 2014-15 Shri Alpesh P. Income Tax Kanugo(HUF), officer, 26, Jawahar Society, Ward 3…

Smt. Meera Alpesh Kanugo, Vadodara vs. ITO, Ward-3(1)(3), Vadodara

In the result, appeal filed by the assessee is allowed

ITA 2130/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad25 Feb 2022AY 2014-15
For Appellant: Shri K.P. Singh, A.RFor Respondent: Shri S.S. Shukla, Sr. D.R
Section 10(38)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH (Conducted Through Virtual Court) Before: Shri Waseem Ahmed, Accountant Member And Ms. Madhumita Roy, Judicial Member Assessment Year 2014-15 Smt. MeeraAlpeshKanugo, 26, The ITO, Jawahar Society, Ward-3(1)(3), Nr. Bakrawadi, Vs Vadodara R.V. Desai Road, (Respondent) Vadodara PAN: ARVPK4689F (Appellant) Assessee by: Shri K.P. Singh, A.R. Revenue by: Shri S.S. Shukla, Sr. D.R. Date of hearing : 04-01-2022 Date of pronouncement : 25-02-2022 आदेश/ORDER PER :WASEEM AHMED, ACCOUNTANT MEMBER:- The captioned appeal has been filed at the instance of the assesse…

Kavita Pawan Kikavat, Mumbai vs. Dy CIT CC 3 (4), Mumbai

The appeal stands partly allowed in terms of our above order

ITA 7931/MUM/2019[2012-13]Status: DisposedITAT Mumbai17 Dec 2021AY 2012-13

Bench: Hon’Ble Shri Amarjit Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आिकरअपील िं./ I.T.A. Nos.7931/Mum/2019 (धििाारण वर्ा / Assessment Year: 2012-13) Ms. Kavita Pawan Kikavat Dcit-Cc 3(4), बिाम/ 1915, 19Th Floor 1201, D-Wing, Kukreja Towers, Garodiya Nagar, Ghatkopar (E), Air India Building Vs. Mumbai-400 077 Nariman Point, Mumbai-400 021 स्थािीलेखा िं./जीआइआर िं./Pan/Gir No. Aggpk-1139-A (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri Neelkanth Khandelwal– Ld. Ar Revenue By : Ms. Usha Gaikwad– Ld. Dr ुनवाई की तारीख/ : 22/11/2021 Date Of Hearing घोषणा की तारीख / : 17/12/2021 Date Of Pronouncement

For Appellant: Shri Neelkanth Khandelwal– Ld. ARFor Respondent: Ms. Usha Gaikwad– Ld. DR
Section 10(38)Section 143(3)Section 147Section 148Section 68Section 69C

…1 Ms. Kavita Pawan Kikavat Assessment Year: 2012-13 आयकर अपीलीय अधिकरण “एफ ” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI माननीय श्री अमरजीत स िंह, न्यासिक दस्य एविं माननीय श्री मनोज कुमार अग्रवाल ,लेखा दस्य के मक्ष। BEFORE HON’BLE SHRI AMARJIT SINGH, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing through Video Conferencing Mode) आिकरअपील िं./ I.T.A. Nos.7931/Mum/2019 (धििाारण वर्ा / Assessment Year: 2012-13) Ms. Kavita Pawan Kikavat DCIT-CC 3(4), बिाम/ 1915, 19th floor 1201, D-Wing, Kukreja Towers, Garodiya Nagar, Ghatkopar (E), Air India Building Vs. Mumbai-400 077 Nariman…