What is Delhi in Suman Poddar v. Income Tax Officer 99 authority for?

Exemption under Section 10(38) is not allowable for long-term capital gains arising from bogus share transactions involving penny stocks or manipulative dealings. The Income Tax Department can establish such a case based on the preponderance of probabilities where there is no genuine financial worth.

Which sections of the Income Tax Act does Delhi in Suman Poddar v. Income Tax Officer 99 come up under?

It is most often cited in judgments turning on Section 68, Section 10(38), Section 148, Section 147, Section 142(1), Section 143(2).

Delhi in Suman Poddar v. Income Tax Officer 99 (112 Taxmann.com 330)

Q: How many judgments cite Delhi in Suman Poddar v. Income Tax Officer 99?

138 judgments on BharatTax cite Delhi in Suman Poddar v. Income Tax Officer 99 (112 Taxmann.com 330), spanning 2021 to 2026.

Dy CIT CC 4(3), Mumbai vs. Shri. Rajesh Omprakash Agrawal, Thane

In the result ground number 1

ITA 1284/MUM/2020[2015-16]Status: DisposedITAT Mumbai01 May 2023AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Dcit(Cc)4(3) Rajesh Omprakash Agrawal R No. 1921, 19Th Floor, Air 16 Sai Shyam Chhaya Kopar India Bldg, Nariman Point, Road, Dombivali West, Vs. Thane-421202 Mumbai-400 021 (Appellant) (Respondent) Dcit(Cc)4(3) Rajesh Omprakash Agrawal R No. 1921, 19Th Floor, Air 16 Sai Shyam Chhaya Kopar India Bldg, Nariman Point, Road, Dombivali West, Vs. Thane-421202 Mumbai-400 021 (Appellant) (Respondent) Pan No. Adypa5448F Assessee By : Shri. Ajay Daga, Ashok Bansal Revenue By : Ms Ridhi Mishra (Cit Dr) Date Of Hearing: 02.02.2023 Date Of Pronouncement : 01.05.2023

For Appellant: Shri. Ajay Daga, Ashok BansalFor Respondent: Ms Ridhi Mishra (CIT DR)

Section 10Section 132Section 133ASection 142Section 143Section 153ASection 153C

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI SANDEEP SINGH KARHAIL, JM DCIT(CC)4(3) Rajesh Omprakash Agrawal R No. 1921, 19th Floor, Air 16 Sai Shyam Chhaya Kopar India Bldg, Nariman Point, road, Dombivali West, Vs. Thane-421202 Mumbai-400 021 (Appellant) (Respondent) DCIT(CC)4(3) Rajesh Omprakash Agrawal R No. 1921, 19th Floor, Air 16 Sai Shyam Chhaya Kopar India Bldg, Nariman Point, road, Dombivali West, Vs. Thane-421202 Mumbai-400 021 (Appellant) (Respondent) PAN No. ADYPA5448F Assessee by : Shri. Ajay Daga, Ashok Bansal Revenue by : Ms Ridhi Mishra (CIT DR…

Shri. Asha Rajendra Gupta, Mumbai vs. Ast CIT 21 (1), Mumbai

In the result, Ground No. 1 with its sub grounds is dismissed

ITA 7712/MUM/2019[2014-15]Status: DisposedITAT Mumbai13 Apr 2023AY 2014-15

Bench: Shri Amit Shukla & Shri Gagan Goyalsmt. Asha Rajendra Gupta Tulsi Vihar Himalaya Baug L. J. Road, Opp. Sitaladevi Temple, Mahim(W) Mumbai-400 016 Pan:Aaxpg2017J ...... Appellant Vs. Acit-21(1) R. No. 116, Piramal Chamber, Lalabaug, Mumbai-400 020 ..... Respondent

For Appellant: Shri Shashank Mehta, Ld. ARFor Respondent: Shri Manoj Kumar Sihna, CIT DR

Section 10(38)Section 143Section 2Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Smt. Asha Rajendra Gupta Tulsi Vihar Himalaya Baug L. J. Road, Opp. Sitaladevi Temple, Mahim(W) Mumbai-400 016 PAN:AAXPG2017J ...... Appellant Vs. ACIT-21(1) R. No. 116, Piramal Chamber, lalabaug, Mumbai-400 020 ..... Respondent Appellant by : Shri Shashank Mehta, Ld. AR Respondent by : Shri Manoj Kumar Sihna, CIT DR Date of hearing : 19/01/2023 Date of pronouncement : 13/04/2023 ORDER PER GAGAN GOYAL, A.M: This appeal by assessee is directed against the order of…

Shri Rupal Jaian, Jaipur vs. ITO, Ward-1(2), Jaipur

In the result, appeal of the assessee is dismissed

ITA 209/JPR/2020[2014-15]Status: DisposedITAT Jaipur04 Apr 2023AY 2014-15

Bench: The Date Of Appeal.

For Appellant: Shri Saurabh Harsh, AdvocateFor Respondent: Shri Anoop Singh, (Addl. CIT)

Section 10(38)Section 133ASection 142(1)Section 143(2)Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”SMC” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ds le{k BEFORE: HON’BLE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER vk;dj vihy la-@ITA No. 209/JP/2020 fu/kZkj.k o"kZ@Assessment Year : 2014-15. cuke Shri Rupal Jalan, The Income Tax Officer, Vs. A-97, Siddharth Nagar, Ward 1(2), Behind Jawahar Circle, Jaipur. Near Jain Mandir, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AGFPJ 5818 G vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Saurabh Harsh, Advocate. jktLo dh vksj ls@ Revenue by : Shri Ano…

The Assistant Commissioner of Income Tax, Circle-1(1), Visakhapatnam vs. Mattapalli Ramgopal, Visakhapatnam

In the result, appeals of the revenue are dismissed

ITA 66/VIZ/2021[20105-16]Status: DisposedITAT Visakhapatnam29 Mar 2023

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.65/Viz/2021 & 66/Viz/2021 (निर्धारण वर्ा / Assessment Year : 2014-15 & 2015-16) Asst.Commissioner Of Income Tax Vs. Mattapalli Ramgopal Circle-1(1) 25-8-246, Main Road Visakhapatnam Kurupam Market Visakhapatnam [Pan : Aarpw2133K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri I.Kama Sastry, ARFor Respondent: Shri O.N.Hari Prasada Rao, DR

Section 133ASection 143(1)Section 143(2)Section 68

…आयकरअपीलीयअधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री दुव्वूरु आर एल रेड्डी, न्याधयक सदस्य एिं श्री एस बालाकृष्णन, लेखा सदस्य के समक्ष BEFORE SHRI DUVVURU RL REDDY, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.65/Viz/2021 & 66/Viz/2021 (निर्धारण वर्ा / Assessment Year : 2014-15 & 2015-16) Asst.Commissioner of Income Tax Vs. Mattapalli Ramgopal Circle-1(1) 25-8-246, Main Road Visakhapatnam Kurupam Market Visakhapatnam [PAN : AARPW2133K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओ…

The Assistant Commissioner of Income Tax, Circle-1(1), Visakhaptnam vs. Mattapalli Ramgopal, Visakhapatnam

In the result, appeals of the revenue are dismissed

ITA 65/VIZ/2021[2014-15]Status: DisposedITAT Visakhapatnam29 Mar 2023AY 2014-15

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.65/Viz/2021 & 66/Viz/2021 (निर्धारण वर्ा / Assessment Year : 2014-15 & 2015-16) Asst.Commissioner Of Income Tax Vs. Mattapalli Ramgopal Circle-1(1) 25-8-246, Main Road Visakhapatnam Kurupam Market Visakhapatnam [Pan : Aarpw2133K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri I.Kama Sastry, ARFor Respondent: Shri O.N.Hari Prasada Rao, DR

Section 133ASection 143(1)Section 143(2)Section 68

…आयकरअपीलीयअधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री दुव्वूरु आर एल रेड्डी, न्याधयक सदस्य एिं श्री एस बालाकृष्णन, लेखा सदस्य के समक्ष BEFORE SHRI DUVVURU RL REDDY, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.65/Viz/2021 & 66/Viz/2021 (निर्धारण वर्ा / Assessment Year : 2014-15 & 2015-16) Asst.Commissioner of Income Tax Vs. Mattapalli Ramgopal Circle-1(1) 25-8-246, Main Road Visakhapatnam Kurupam Market Visakhapatnam [PAN : AARPW2133K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओ…

Dy.C.I.T. Cent. Cir-6(2), Mumbai vs. Shri Dilip B.Jiwrajka, Mumbai

In the result, the Cross Objections for AYs 2012-13 & 2013-14

ITA 2349/MUM/2021[2012-13]Status: DisposedITAT Mumbai29 Nov 2022AY 2012-13

Section 132Section 143(2)Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S. RIFAUR RAHMAN, AM आयकर अपील सं/ I.T.A. No.2349/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) DCIT, Central Circle-6(2) बिधम/ Shri Dilip B. Jiwrajka Room No. 1903, 19th Floor, 15th Floor Orbit Villa, 16, Vs. Air India Building, Nariman Darabsha Lane, Off Point, Mumbai-400021. Neapeansea Road, Mumbai-400036. Cross Objection No. 93/Mum/2022 Arising out of I.T.A. No.2349/Mum/2021 (निर्धारण वर्ा / Assessment Years: 2012-13) Shri Dilip B. Jiwrajka बिधम/ DCIT, Central Circle-6(2) 15th Floor Orbit Villa, 16, Room No. 19…

Principal Commissioner of Income Tax 9 Kolkata vs. Shri Sitaram Kedia

The appeal is allowed

ITAT/109/2022HC Calcutta23 Nov 2022

Bench: :

Section 260ASection 5Section 68

…OD-10 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE ITAT/109/2022 IA No. GA/2/2022 PRINCIPAL COMMISSIONER OF INCOME TAX-9, KOLKATA VS. SHRI SITARAM KEDIA BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE HIRANMAY BHATTACHARYYA Date : 23rd November, 2022 Appearance : Mr. Soumen Bhattacharjee, Adv. …for the appellant The Court : This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act, for brevity) is directed against the order dated 23rd March, 2021 passed by the Income Tax A…

Harish Sharma HUF, B-1, Patodiya Marg, Shastri Nagar, Jaipur vs. ITO, Ward-5(3), Jaipur

In the result the appeal of the assessee is dismissed

ITA 318/JPR/2022[2014-15]Status: DisposedITAT Jaipur11 Nov 2022AY 2014-15

For Appellant: Sh. P. C. Parwal (CA)For Respondent: Shri Chanchal Meena (JCIT)

Section 10(38)Section 133ASection 143(2)Section 143(3)Section 68Section 69C

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,’A’ JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM deys’k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 318/JP/2022 fu/kZkj.k o"kZ@Assessment Year :2014-15 cuke Harish Sharma HUF ITO, Vs. B-1, Patodiya Marg, Ward-5(3), Shastri Nagar, Jaipur Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAEHH 0008 P vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. P. C. Parwal (CA) jktLo dh vksj ls@ Revenue by : Shri Cha…

Sita Devi Agarwal, Jaipur vs. ITO, WD-4(1), Jaipur

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

ITA 56/JPR/2022[2014-15]Status: DisposedITAT Jaipur18 Oct 2022AY 2014-15

For Appellant: Shri C.M. Batwara, AdvocateFor Respondent: Mrs. Monisha Choudhary, JCIT

Section 10(38)Section 143(2)Section 68Section 69C

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”SMC’’ JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ds le{k BEFORE: Hon’ble SHRI SANDEEP GOSAIN, JUDICIAL MEMBER vk;dj vihy la-@ITA No. 56/JP/2022 fu/kZkj.k o"kZ@Assessment Year : 2014-15 Sita Devi Agarwal cuke The ITO Vs. A-25, Vivekanand Colony, East Khetri Ward 4(1) House, C.P. Gate, Jaipur- 302 2016 Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAUPA 7450 N vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri C.M. Batwara, Advocate jktLo dh vksj ls@ Revenue by: Mrs. Monisha Choudhary, JC…

Naresh Kumar Arora, Jaipur vs. DCIT, Circle-6, Jaipur

In the result, the appeal of the assessee is allowed

ITA 259/JPR/2022[2013-14]Status: DisposedITAT Jaipur21 Sept 2022AY 2013-14

For Appellant: Shri C.L. Yadav, CA shri Rajendra Sisodia,AdvFor Respondent: Shri Sanajy Dhariwal, CIT-DR

Section 10(38)Section 143(3)Section 147Section 148Section 68Section 69C

…1 NARESH KUMAR ARORA VS DCIT , CIRCLE-6, JAIPUR आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 259/JP/2022 fu/kZkj.k o"kZ@Assessment Year : 2013-14 cuke Shri Naresh Kumar Arora The DCIT C-242, Malviya Nagar Vs. Circle-6 Jaipur – 302 016 Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAYPA 5970 H vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri C…

Principal Commissioner of Income Tax-9, Kolkata vs. Shri Sita Ram Kedia

The appeal stands disposed of and the substantial questions of law

ITAT/8/2022HC Calcutta05 Sept 2022

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Supratim Bhattacharya Date : September 5, 2022. Appearance: Mr. Amit Sharma, Adv. … For Appellant Ga/1/2022 The Court : We Have Heard Mr. Amit Sharma, Learned Standing Counsel For The Appellant. Though Notice Has Been Served On The Respondent None Appears For Respondent. There Is A Delay Of 135 Days In Filing The Appeal. We Have Perused The Affidavit Filed In Support Of The Application & We Find That Sufficient Cause Has Been Shown For Not Being Able To Prefer The Appeal Within The Period Of Limitation. For Such Reason, The Delay In Filing The Appeal Is Condoned & The Application Is Allowed.

Section 260ASection 268A

…O – 5 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE ITAT/8/2022 IA NO: GA/1/2022, GA/2/2022 PRINCIPAL COMMISSIONER OF INCOME TAX – 9, KOLKATA VS. SHRI SITA RAM KEDIA BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE SUPRATIM BHATTACHARYA Date : SEPTEMBER 5, 2022. Appearance: Mr. Amit Sharma, Adv. … for appellant GA/1/2022 The Court : We have heard Mr. Amit Sharma, learned standing Counsel for the appellant. Though notice has been served on the respondent none appears for respondent. There is a delay of 135 days in filing the appeal. We have perused the affidavi…

Keshav Saraf, Kolkata vs. PCIT-15, Kolkata

In the result, the appeal of the assessee is dismissed

ITA 156/KOL/2021[2015-15]Status: DisposedITAT Kolkata25 Aug 2022AY 2015-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

Section 108Section 143(2)Section 143(3)Section 263

…ing, Kolkata. No doubt the assessee has relied upon a few judgments of the Hon’ble Kolkata Tribunal. However, those decision have been rendered without considering the ratio of the Apex Court’s judgement rendered in the case of Suman Poddar reported in (2019) 112 Taxmann.com 330 (SC) and are, therefore, per in curium. The Supreme Court in the case of Suman Poddar categorically held that exemption u/s 10(38) cannot be allowed because share transaction were bogus as Company whose shares were allegedly purchased was penny stock. 15. The AO’s failure to act diligently and with investigative skills expected of an asse…

Deputy Commissioner of Income Tax, Central Circle-3, Income Tax Office vs. Shri Suresh Kumar Gupta, Sriganganagar

In the result the appeal of the revenue in ITA No

ITA 55/JPR/2022[2013-14]Status: DisposedITAT Jaipur24 Aug 2022AY 2013-14

For Appellant: Sh. P. C. Parwal, C.AFor Respondent: Sh. Sanjay Dhariwal, CIT lquo

Section 132Section 143(3)Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 54/JP/2022 fu/kZkj.k o"kZ@Assessment Year : 2013-14 cuke Deputy Commissioner of Income M/s N. M. Agrofood Products Tax Vs. Pvt. Ltd. 34, 35, 36, 1st Phase Udhyog Income Tax Department, Vihar, RIICO, Sri Ganganagar Central Circle-3 LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AACCN 3552 D vihykFkhZ@Appellant izR;FkhZ@Respondent izR;k{ksi.k…

Deputy Commissioner of Income Tax, Income Tax Department, Central Circle-3 vs. M/S N. M. Agrofood Products Pvt. Ltd., Sriganganagar

In the result the appeal of the revenue in ITA No

ITA 54/JPR/2022[2013-14]Status: DisposedITAT Jaipur24 Aug 2022AY 2013-14

For Appellant: Sh. P. C. Parwal, C.AFor Respondent: Sh. Sanjay Dhariwal, CIT lquo

Section 132Section 143(3)Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 54/JP/2022 fu/kZkj.k o"kZ@Assessment Year : 2013-14 cuke Deputy Commissioner of Income M/s N. M. Agrofood Products Tax Vs. Pvt. Ltd. 34, 35, 36, 1st Phase Udhyog Income Tax Department, Vihar, RIICO, Sri Ganganagar Central Circle-3 LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AACCN 3552 D vihykFkhZ@Appellant izR;FkhZ@Respondent izR;k{ksi.k…