CIT v. Shyam R. Pawar

54 Taxmann.com 108High Court2015#282 most cited

What is CIT v. Shyam R. Pawar authority for?

Transactions involving the purchase and sale of shares cannot be considered bogus where the assessee provides documentary evidence, unless the revenue brings substantial evidence on record to reject such proof. This principle is consistently applied in cases concerning claims of bogus long-term capital gains arising from penny stock transactions.

279

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Shyam R. Pawar · 54 Taxmann.com 108 · Section 68 · Section 10(38) · bogus long term capital gain · penny stock · documentary evidence · burden of proof · evidence rejection · substantial evidence

Also reported as

229 Taxmann 256

Sections most often in play

Section 68Section 10(38)Section 143(3)Section 147Section 69CSection 148Section 131Section 133(6)

Issues it is cited on

price riggingbogus long term capital gainbogus ltcgpenny stocksection 10(38)period of holdingpreponderance of probabilitylong term capital gainscircular tradingentry operatorcolourable devicelong term capital gain

Judgments citing CIT v. Shyam R. Pawar

Pushpa Garg, New Delhi vs. ITO, Ward-40(2), New Delhi

In the result, ITA.No.5971/Del

ITA 5972/DEL/2018[2015-16]Status: DisposedITAT Delhi12 Dec 2018AY 2015-16

Bench: Shri Bhavnesh Saini

For Respondent: Shri S.L. Anuragi, Sr. D.R
Section 10(38)Section 131

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “SMC” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.No.5971/Del./2018 Assessment Year 2015-2016 Ms. Anupama Garg, The Income Tax Officer, BD-79, Pitampura, vs. Ward – 40 (1), New Delhi – 110 034. New Delhi. PAN AEYPG5314B (Appellant) (Respondent) ITA.No.5972/Del./2018 Assessment Year 2015-2016 Smt. Pushpa Garg, The Income Tax Officer, BD-79, Pitampura, vs. Ward – 40 (1), New Delhi – 110 034. New Delhi. PAN AAMPG7056J (Appellant) (Respondent) ITA.No.5973/Del./2018 Assessment Year 2015-2016 Bhushan Garg HUF, The Income Tax Officer, BD-79, Pitampura,…

Anupama Garg, New Delhi vs. ITO, Ward-40(1), New Delhi

In the result, ITA.No.5971/Del

ITA 5971/DEL/2018[2015-16]Status: DisposedITAT Delhi12 Dec 2018AY 2015-16

Bench: Shri Bhavnesh Saini

For Respondent: Shri S.L. Anuragi, Sr. D.R
Section 10(38)Section 131

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “SMC” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.No.5971/Del./2018 Assessment Year 2015-2016 Ms. Anupama Garg, The Income Tax Officer, BD-79, Pitampura, vs. Ward – 40 (1), New Delhi – 110 034. New Delhi. PAN AEYPG5314B (Appellant) (Respondent) ITA.No.5972/Del./2018 Assessment Year 2015-2016 Smt. Pushpa Garg, The Income Tax Officer, BD-79, Pitampura, vs. Ward – 40 (1), New Delhi – 110 034. New Delhi. PAN AAMPG7056J (Appellant) (Respondent) ITA.No.5973/Del./2018 Assessment Year 2015-2016 Bhushan Garg HUF, The Income Tax Officer, BD-79, Pitampura,…

Arvind Goenka, Delhi vs. ACIT, Circle-20(2), New Delhi

In the result, ITA.No.5883, 6457, 6458 and 6459/Del

ITA 5883/DEL/2018[2015-16]Status: DisposedITAT Delhi12 Dec 2018AY 2015-16

Bench: Shri Bhavnesh Saini

For Respondent: Shri S.L. Anuragi, Sr. D.R
Section 10(38)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “SMC” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.No.5882/Del./2018 Assessment Year 2015-2016 Shri Amar Nath Goenka, New Delhi – 110 070. The ACIT, PAN AAPPG9369R Circle-20(1), C/o.Shri Kapil Goel, vs. Advocate, F-26/124, New Delhi. Sector-7, Rohini, Delhi – 110085. (Appellant) (Respondent) ITA.No.5883/Del./2018 Assessment Year 2015-2016 Shri Arvind Goenka, New Delhi – 110 070. The ACIT, PAN ACTPG1708Q Circle-20(2), C/o.Shri Kapil Goel, vs. Advocate, F-26/124, New Delhi. Sector-7, Rohini, Delhi – 110085. (Appellant) (Respondent) ITA.No.6457/Del./2018…

Amar Nath Goenka, Delhi vs. ACIT, Circle-20(1), New Delhi

In the result, ITA.No.5883, 6457, 6458 and 6459/Del

ITA 5882/DEL/2018[2015-16]Status: DisposedITAT Delhi12 Dec 2018AY 2015-16

Bench: Shri Bhavnesh Saini

For Respondent: Shri S.L. Anuragi, Sr. D.R
Section 10(38)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “SMC” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.No.5882/Del./2018 Assessment Year 2015-2016 Shri Amar Nath Goenka, New Delhi – 110 070. The ACIT, PAN AAPPG9369R Circle-20(1), C/o.Shri Kapil Goel, vs. Advocate, F-26/124, New Delhi. Sector-7, Rohini, Delhi – 110085. (Appellant) (Respondent) ITA.No.5883/Del./2018 Assessment Year 2015-2016 Shri Arvind Goenka, New Delhi – 110 070. The ACIT, PAN ACTPG1708Q Circle-20(2), C/o.Shri Kapil Goel, vs. Advocate, F-26/124, New Delhi. Sector-7, Rohini, Delhi – 110085. (Appellant) (Respondent) ITA.No.6457/Del./2018…

DCIT, Central Circle-5(1), Kolkata vs. M/S Prb Securities Pvt.Ltd., Kolkata

In the result, the appeal of the revenue is dismissed

ITA 211/KOL/2017[2013-14]Status: DisposedITAT Kolkata05 Dec 2018AY 2013-14

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 211/Kol/2017 Assessment Year : 2013-14 Dcit, Circle-5(1), Kolkata -Vs- M/S Prb Securities Pvt. Ltd. [Pan: Aabcp 5425 G ] (Appellant) (Respondent)

For Appellant: Shri Saurabh Kumar, Addl. CIT Sr. DRFor Respondent: Shri Manish Tiwari, AR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : KOLKATA [Before Hon’ble Shri A T Varkey, JM, & Shri M.Balaganesh, AM] I.T.A No. 211/Kol/2017 Assessment Year : 2013-14 DCIT, Circle-5(1), Kolkata -vs- M/s PRB Securities Pvt. Ltd. [PAN: AABCP 5425 G ] (Appellant) (Respondent) For the Appellant : Shri Saurabh Kumar, Addl. CIT Sr. DR For the Respondent : Shri Manish Tiwari, AR Date of Hearing : 22.11.2018 Date of Pronouncement : 05.12.2018 ORDER Per M.Balaganesh, AM 1. This appeal by the Revenue arises out of the order of the Learned Commissioner of Income Tax(Appeals)-2, Kolkata [in short the ld CIT(A)]…

Jaymin Kiritbhai Sanghvi, Mumbai vs. ITO - 18(1)(5), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 6070/MUM/2016[2006-07]Status: DisposedITAT Mumbai18 Jul 2018AY 2006-07

Bench: S/Shri B.R.Baskaran (Am) & Amarjit Singh (Jm)

Section 10(38)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” Bench, Mumbai Before S/Shri B.R.Baskaran (AM) & Amarjit Singh (JM) I.T.A. No. 6070/Mum/2016 (Assessment Year 2006-07) Jaymin Kiritbhai Sanghvi ITO 18(1)(5) A/32, Dhiraj Apartments Vs. 2nd Floor 11, Poddar Road Earnest House Mumbai-400 002. Nariman Point PAN : AOPPS5428H Mumbai-400021. (Appellant) (Respondent) Assessee by Shri Hitesh P. Shah Department by Ms. N. Hemalatha Date of Hearing 28.6.2018 Date of Pronouncement 18.7.2018 O R D E R Per B.R. Baskaran (AM) :- The assessee has filed this appeal challenging the order dated 5.7.2016 passed by the learned CIT(A)-…

Legal Heirs of Late Shreevallabh Damani, Mumbai vs. ACIT Cen Cir 11, Mumbai

In the result, the appeals are allowed

ITA 7285/MUM/2010[2006-07]Status: DisposedITAT Mumbai14 Jun 2018AY 2006-07

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 153ASection 254

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, F, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “F”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.7282 to 7285/Mum/2010 Assessment Years: 2002-03, 2003-04, 2005-06 & 2006-07 Legal Heirs of late The Asst.Commissioner Shreevallabh Damani of Income-tax Central बनाम/ 50A Amita, 7 Gen. J.B.Marg Circle 11 Vs. Nariman Point, Mumbai. Mumbai – 400 021. ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. AAGPD5311D. "नधा"रती क" ओर से / Assessee by Shri S…

Legal Heirs of Late Shreevallabh Damani, Mumbai vs. ACIT Cen Cir 11, Mumbai

In the result, the appeals are allowed

ITA 7284/MUM/2010[2005-06]Status: DisposedITAT Mumbai14 Jun 2018AY 2005-06

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 153ASection 254

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, F, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “F”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.7282 to 7285/Mum/2010 Assessment Years: 2002-03, 2003-04, 2005-06 & 2006-07 Legal Heirs of late The Asst.Commissioner Shreevallabh Damani of Income-tax Central बनाम/ 50A Amita, 7 Gen. J.B.Marg Circle 11 Vs. Nariman Point, Mumbai. Mumbai – 400 021. ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. AAGPD5311D. "नधा"रती क" ओर से / Assessee by Shri S…

Legal Heirs of Late Shreevallabh Damani, Mumbai vs. ACIT Cen Cir 11, Mumbai

In the result, the appeals are allowed

ITA 7283/MUM/2010[2003-04]Status: DisposedITAT Mumbai14 Jun 2018AY 2003-04

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 153ASection 254

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, F, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “F”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.7282 to 7285/Mum/2010 Assessment Years: 2002-03, 2003-04, 2005-06 & 2006-07 Legal Heirs of late The Asst.Commissioner Shreevallabh Damani of Income-tax Central बनाम/ 50A Amita, 7 Gen. J.B.Marg Circle 11 Vs. Nariman Point, Mumbai. Mumbai – 400 021. ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. AAGPD5311D. "नधा"रती क" ओर से / Assessee by Shri S…

Legal Heirs of Late Shreevallabh Damani, Mumbai vs. ACIT Cen Cir 11, Mumbai

In the result, the appeals are allowed

ITA 7282/MUM/2010[2002-03]Status: DisposedITAT Mumbai14 Jun 2018AY 2002-03

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 153ASection 254

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, F, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “F”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.7282 to 7285/Mum/2010 Assessment Years: 2002-03, 2003-04, 2005-06 & 2006-07 Legal Heirs of late The Asst.Commissioner Shreevallabh Damani of Income-tax Central बनाम/ 50A Amita, 7 Gen. J.B.Marg Circle 11 Vs. Nariman Point, Mumbai. Mumbai – 400 021. ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. AAGPD5311D. "नधा"रती क" ओर से / Assessee by Shri S…

ITO 19(1)(2), Mumbai vs. Babulal U Munot, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 4506/MUM/2015[2010-11]Status: DisposedITAT Mumbai11 May 2018AY 2010-11

Bench: Shri Rajendra, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4506/Mum/2015 (निर्धारण वर्ा / Assessment Year: 2010-11) The Ito-19(1)(2), Mumbai, बिधम/ Shri Babulal U Munot 2Nd Floor, Matru Mandir, Prop. M/S. Steel Samrat Vs. (India) Flat No. 1901-A, 19Th Tardeo Road, Mumbai- 400007 Floor, Shreepati Tower, A Wing, Tatya Gharpure Path, Girgaon Mumbai-04 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aftpm5429H (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri T. A. Khan (Dr) Assessee By: None सुनवाई की तारीख / Date Of Hearing: 26.03.2018 घोषणा की तारीख /Date Of Pronouncement: 11.05.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 15.05.2015 Passed By The Commissioner Of Income Tax (Appeals) -30, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2010- 11. 2. The Revenue Has Raised The Following Grounds: - “(1) Whether, On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Restricting The Addition To The Extent Of 7.5% Of Non-Genuine Purchase Claimed By The Assessee A.Y.2010-11

For Appellant: NoneFor Respondent: Shri T. A. Khan (DR)
Section 133(6)Section 143(1)Section 143(2)Section 69C

…rty and also supplies such other evidence which prima facie shows that the entry is not fictitious, the initial burden which lies on him can be said to have been discharged. 2.5.7 In yet another case, Hon'ble Bombay High Court in CIT vs. Shyam R. Pawar (2015) 229 Taxmann 256 (Bom), while dealing with a worse case of cash credit in respect of suspicious share transactions done through brokers at Calcutta, dismissed the Departmental appeal against the order of Hon'ble Tribunal by observing that once the DFMAT account and Contract Note showed credit / details of share transactions and the revenue had 24 A.Y.2010-11…

ITO 24(3)(1), Mumbai vs. Arvind Kumar Jain HUF, Mumbai

In the result, the appeal is dismissed

ITA 4862/MUM/2014[2005-06]Status: DisposedITAT Mumbai18 Sept 2017AY 2005-06

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2005-06 Ito-24(3)(1) M/S Arvind Kumar Jain Huf C-11, 7Th Floor, B.K.C. 497/A, Pampa Co-Opt Hsg Vs. Bandra (E) Scoc. Gajanand Colony Road Mumbai-400051. Goregaon West Mumbai-400062. Pan No. Aaahi1007M Appellant Respondent Revenue By : Mr. M.C. Omi Ningshen, Dr Assessee By : Mr. Naveen Kumar Mishra, Ar Date Of Hearing : 21/06/2017 Date Of Pronouncement : 18/09/2017

For Appellant: Mr. Naveen Kumar Mishra, ARFor Respondent: Mr. M.C. Omi Ningshen, DR
Section 143(3)Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H” MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2005-06 ITO-24(3)(1) M/s Arvind Kumar Jain HUF C-11, 7th floor, B.K.C. 497/A, Pampa Co-Opt HSG Vs. Bandra (E) Scoc. Gajanand Colony Road Mumbai-400051. Goregaon West Mumbai-400062. PAN No. AAAHI1007M Appellant Respondent Revenue by : Mr. M.C. Omi Ningshen, DR Assessee by : Mr. Naveen Kumar Mishra, AR Date of Hearing : 21/06/2017 Date of pronouncement : 18/09/2017 ORDER PER N.K. PRADHAN, A.M. This is an appeal filed by the Revenue. The relevant asse…

Kamladevi S. Doshi, Mumbai vs. ITO WD 16(3)(1), Mumbai

The appeal of the assessee is allowed

ITA 1957/MUM/2015[2006-07]Status: DisposedITAT Mumbai22 May 2017AY 2006-07

Bench: Shri B.R. Baskaran, Am & Shri Ravish Sood,Jm आयकर अपील सं./ I.T.A. No.1957/Mum/2015 (निर्धारण वर्ा / Assessment Year: 2006-07) Kamla Devi S. Doshi The Income Tax Officer Flat No. 410, Shreepati Castle, Ward 16(3)(1), बिधम/ 208/210, 10Thkhetwadi Main Road, Matru Mandir, Nana Chowk Vs. Mumbai 400004 Mumbai 400034 स्थायीलेखासं./जीआइआरसं./Pan/Gir No. Affpd7183M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

For Appellant: Shri Sanjiv M. ShahFor Respondent: Shri. Vishwas Mundhe, D.R
Section 132Section 143(3)Section 68

…P a g e | 1 IN THE INCOME TAX APPELLATE TRIBUNAL ‘J’ BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN, AM AND SHRI RAVISH SOOD,JM आयकर अपील सं./ I.T.A. No.1957/Mum/2015 (निर्धारण वर्ा / Assessment Year: 2006-07) Kamla Devi S. Doshi The Income Tax Officer Flat No. 410, Shreepati Castle, Ward 16(3)(1), बिधम/ 208/210, 10thKhetwadi Main Road, Matru Mandir, Nana Chowk Vs. Mumbai 400004 Mumbai 400034 स्थायीलेखासं./जीआइआरसं./PAN/GIR No. AFFPD7183M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : आयकर अपील सं./ I.T.A. No.3018/Mum/2015 (निर्धारण वर्ा / Assessment Year: 2006-07) Jawantraj Bhutaji Shah, HUF The Income Tax Officer…

Saroj Damani, Mumbai vs. ACIT Cen Cir 11, Mumbai

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

ITA 7288/MUM/2010[2006-07]Status: DisposedITAT Mumbai17 May 2017AY 2006-07

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

Section 132Section 143(3)Section 153Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI MANOJ KUMAR AGGARWAL, AM ITA No.7287/Mum/2010 (A.Y:2005-06) Smt. Saroj Damani Asst. Commissioner of Income Tax, Circle 11 50A, Amita 7 Gen J.B. Marg, Mumbai Nariman Point Vs. Mumbai-400 021 PAN No. ADJPD2826R Appellant .. Respondent .. Mr. Sashi Tulsiyan, AR Assessee by Revenue by .. Mrs. Savita Bundas, CIT DR .. Date of hearing 04-05-2017 Date of pronouncement .. 17-05-2017 O R D E R PER MAHAVIR SINGH, JM: These three appeals by the assessee are arising out of the different orders of CIT(A)-37, Mumbai, in appeal No. CIT…

Saroj Damani, Mumbai vs. ACIT Cen Cir 11, Mumbai

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

ITA 7287/MUM/2010[2005-06]Status: DisposedITAT Mumbai17 May 2017AY 2005-06

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

Section 132Section 143(3)Section 153Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI MANOJ KUMAR AGGARWAL, AM ITA No.7287/Mum/2010 (A.Y:2005-06) Smt. Saroj Damani Asst. Commissioner of Income Tax, Circle 11 50A, Amita 7 Gen J.B. Marg, Mumbai Nariman Point Vs. Mumbai-400 021 PAN No. ADJPD2826R Appellant .. Respondent .. Mr. Sashi Tulsiyan, AR Assessee by Revenue by .. Mrs. Savita Bundas, CIT DR .. Date of hearing 04-05-2017 Date of pronouncement .. 17-05-2017 O R D E R PER MAHAVIR SINGH, JM: These three appeals by the assessee are arising out of the different orders of CIT(A)-37, Mumbai, in appeal No. CIT…

Saroj Damani, Mumbai vs. ACIT Cen Cir 11, Mumbai

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

ITA 7286/MUM/2010[2004-05]Status: DisposedITAT Mumbai17 May 2017AY 2004-05

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

Section 132Section 143(3)Section 153Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI MANOJ KUMAR AGGARWAL, AM ITA No.7287/Mum/2010 (A.Y:2005-06) Smt. Saroj Damani Asst. Commissioner of Income Tax, Circle 11 50A, Amita 7 Gen J.B. Marg, Mumbai Nariman Point Vs. Mumbai-400 021 PAN No. ADJPD2826R Appellant .. Respondent .. Mr. Sashi Tulsiyan, AR Assessee by Revenue by .. Mrs. Savita Bundas, CIT DR .. Date of hearing 04-05-2017 Date of pronouncement .. 17-05-2017 O R D E R PER MAHAVIR SINGH, JM: These three appeals by the assessee are arising out of the different orders of CIT(A)-37, Mumbai, in appeal No. CIT…

Anjali Pandit, Mumbai vs. Asst CIT Cen Cir 12, Mumbai

ITA 3028/MUM/2011[2002-03]Status: DisposedITAT Mumbai17 Nov 2016AY 2002-03

Bench: Hon’Ble S/Shri Joginder Singh (Jm) & Rajesh Kumar,(Am) आमकय अऩीर सं./I.T.A. No.3028 To 3032/Mum/2011 (ननधधायण वषा / Assessment Year :2002-03 To 2006-07) Smt.Anjli Pandit, बनाम/ Asstt. Commissioner Of Income Gajanan Building No.8, 178, Tax, Central Circle 12, Vs. Cgo Building, M K Marg, Jawahar Nagar, Mumbai-400020. Goregaon (W), Mumbai-400062 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

Section 143(3)Section 68Section 69C

…unal we hold that purchase and sale of shares by the assessee was a genuine transaction, and hence, addition made by the AO cannot be endorsed. Upholding the orders of the FAA ,we dismiss the appeals filed by the AO”. In the case CIT Vs Shyam R. Pawar (2015) 229 Taxmann 256 (Bom) has held as under:- “It was revealed during the course of inquiry by the Assessing Officer that the Calcutta Stock Exchange records showed that the shares were purchased for code numbers S003 and R121 of STPL and RMPL respectively. Out of these two, only RMPL is listed in the appraisal report and it is stated to be involved in the modus…

DCIT 24(3), Mumbai vs. Indervadan Jain, Mumbai

In the result, both appeals of the revenue are dismissed

ITA 5168/MUM/2014[2005-06]Status: DisposedITAT Mumbai27 May 2016AY 2005-06
For Appellant: Shri Pramod Kumar ParidaFor Respondent: Shri Vishwas Jadhav
Section 143(3)Section 147Section 148Section 149Section 68

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ ‘आई’, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL “I”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI MAHAVIR SINGH, JM आमकय अऩीर सं./ITA No.4861/Mum/2014 (नििाारण वषा / Assessment Year :2005-2006) ITO-24(3)(1), Mumbai Vs. M/s Indravadan Jain HUF, 87/8, Kapadia Building Jawahar Nagar, S.V.Road, Goregaon (West), Mumbai-62 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AAAHI 0054 E (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. AND आमकय अऩीर सं./ITA No.5168/Mum/2014 (नििाारण वषा / Assessment Year :2005-2006) ACIT-24(3), Bandra(E), Mumbai- Vs. Shri Indravadan Jain, 51 23/26, Vij…

ITO 24(3)(1), Mumbai vs. Indravadan Jain HUF, Mumbai

In the result, both appeals of the revenue are dismissed

ITA 4861/MUM/2014[2005-06]Status: DisposedITAT Mumbai27 May 2016AY 2005-06
For Appellant: Shri Pramod Kumar ParidaFor Respondent: Shri Vishwas Jadhav
Section 143(3)Section 147Section 148Section 149Section 68

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ ‘आई’, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL “I”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI MAHAVIR SINGH, JM आमकय अऩीर सं./ITA No.4861/Mum/2014 (नििाारण वषा / Assessment Year :2005-2006) ITO-24(3)(1), Mumbai Vs. M/s Indravadan Jain HUF, 87/8, Kapadia Building Jawahar Nagar, S.V.Road, Goregaon (West), Mumbai-62 स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. : AAAHI 0054 E (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. AND आमकय अऩीर सं./ITA No.5168/Mum/2014 (नििाारण वषा / Assessment Year :2005-2006) ACIT-24(3), Bandra(E), Mumbai- Vs. Shri Indravadan Jain, 51 23/26, Vij…