How many judgments cite PCIT v. Indravadan Jain HUF?

49 judgments on BharatTax cite PCIT v. Indravadan Jain HUF (156 Taxmann.com 605), spanning 2024 to 2026.

Which sections of the Income Tax Act does PCIT v. Indravadan Jain HUF come up under?

It is most often cited in judgments turning on Section 68, Section 10(38), Section 147, Section 143(3), Section 148, Section 69C.

PCIT v. Indravadan Jain HUF

156 Taxmann.com 605High Court2023#2325 most cited

What is PCIT v. Indravadan Jain HUF authority for?

Capital gains from share transactions cannot be added as unexplained cash credit under section 68 if shares were purchased on the stock exchange floor, payment was through banking channels, shares were held in a demat account for over a year, contract notes were issued, and sales were made on the stock exchange.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2024 to 2026.

Also referred to as

PCIT v. Indravadan Jain HUF · section 68 · unexplained cash credit · bogus long term capital gain · penny stock · shares purchased on stock exchange · banking channel payment · demat account · contract notes

Sections most often in play

Section 68 Section 10(38)Section 147 Section 143(3)Section 148 Section 69C Section 133(6)Section 250

Issues it is cited on

price rigging section 142(3)preponderance of probability bogus long term capital gain penny stock bogus ltcg section 10(38)section 2(40)section 28(i)speculation loss section 142(2)long term capital gains

Judgments citing PCIT v. Indravadan Jain HUF

Dharmendra Jayantilal Shah, Mumbai vs. ACIT-31(1), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 3879/MUM/2023[2014-15]Status: DisposedITAT Mumbai10 Jun 2024AY 2014-15

Bench: Shri Narender Kumar Choudhry, Judicialmember & Shri Girish Agrawal

For Appellant: Shri Rajkumar Singh, ARFor Respondent: Smt. Mahita Nair,Sr. DR

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIALMEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No.3897 & 3879/MUM/2023 Assessment Year: 2013-14 & 2014-15 Dharmendra Jayantilal Shah Assistant Commissioner of 1301/4, Raheja Tipco Height, Income Tax-31(1), Rani Sati Marg, Mumbai Malad West, Vs. Maharashtra – 400 097 (PAN: ANHPS1594D) (Appellant) (Respondent) Present for: Assessee : Shri Rajkumar Singh, AR Revenue : Smt. Mahita Nair,Sr. DR Date of Hearing : 30.04.2024 Date of Pronouncement : 10.06.2024 O R D E R PER BENCH: These two appeals filed by the…

Ketan Harilal Mehta HUF by Its Karta Ketan H Mehta, Mumbai vs. ITO Ward-33(2)(2) Mumbai Presently Juridiction With ITO 42(1)(1) Mumbai, Mumbai

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

ITA 770/MUM/2023[2014-15]Status: DisposedITAT Mumbai03 Jun 2024AY 2014-15

Bench: Shri B R Baskaran & Shri Pavan Kumar Gadaleketan Harilal Mehta Huf Vs. Ito-42(1)(1), (By Its Karta Kautilya Bhavan, Ketanmehta)No.B/1101, Bkc,Bandra(E), Siddhi Vinayak Tower, Mumbai-400051. Opp Phoenix Hospital, Chikuwadi, Mumbai-400092. Pan/Gir No. : Aaehk3266N Appellant .. Respondent Appellant By : Shri. Nishit Gandhi.Ar Respondent By : Shri. P.D. Chougule.Sr.Dr Date Of Hearing 02.04.2024 Date Of Pronouncement 03.06.2024 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 Centre (Nfac)(Cit(A)) Delhi Passed U/Sec 143(3) & U/Sec250 Of The Income Tax Act. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri. Nishit Gandhi.ARFor Respondent: Shri. P.D. Chougule.Sr.DR

Section 10(38)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI B R BASKARAN, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Ketan Harilal Mehta HUF Vs. ITO-42(1)(1), (By Its Karta Kautilya Bhavan, KetanMehta)No.B/1101, BKC,Bandra(E), Siddhi Vinayak Tower, Mumbai-400051. Opp Phoenix Hospital, Chikuwadi, Mumbai-400092. PAN/GIR No. : AAEHK3266N Appellant .. Respondent Appellant by : Shri. Nishit Gandhi.AR Respondent by : Shri. P.D. Chougule.Sr.DR Date of Hearing 02.04.2024 Date of Pronouncement 03.06.2024 आदेश / O R D E R PER PAVAN KUMAR GADALE, JM: The appeal is filed by the assessee against t…

Sachin Chirania, Mumbai vs. The Income Tax Officer, Ward - 30(3)(5), Mumbai

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

ITA 4508/MUM/2023[2011-12]Status: DisposedITAT Mumbai30 May 2024AY 2011-12

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhariassessment Year: 2011-12

For Appellant: Ms. Ritu Kamal Kishor, A.RFor Respondent: Shri Himanshu Kumar, D.R

Section 10(38)Section 133(6)Section 147Section 148Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND SMT. RENU JAUHARI, ACCOUNTANT MEMBER Assessment Year: 2011-12 Shri Sachin Chirania, The Income Tax Officer, 301, Sona Chambers, C-13, Pratyakshakar Bhavan, 507/509 JSS Road, Bandra Kurla Complex, Vs. Chira Bazar, Bandra – East, Marine Lines – East, Mumbai – 400 051 Mumbai – 400 002 PAN: ABXPC0141L (Appellant) (Respondent) Present for: Assessee by : Ms. Ritu Kamal Kishor, A.R. Revenue by : Shri Himanshu Kumar, D.R. Date of Hearing : 15 . 05 . 2024 Date of Pronouncement : 30.05.2024 O R D…

Income Tax Officer-42(1)(2), Mumbai, Kautilya Bhawan vs. Dheeraj Babulal Shah, Mumbai

In the result, appeal of the assessee is allowed

ITA 3320/MUM/2023[2012-13]Status: DisposedITAT Mumbai27 May 2024AY 2012-13

Bench: Shri Narender Kumar Choudhry, Judicialmember & Shri Girish Agrawalassessment Year: 2012-13

For Appellant: Shri Rajkumar Singh, CAFor Respondent: Smt. Mahita Nair,Sr. DR

Section 143(3)Section 147Section 148Section 263Section 69Section 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIALMEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 Income Tax Officer – 42(1)(2), Dheeraj Babulal Shah Mumbai 23/A-12, Akash CHSL, Jalawal Nagar, Ashok Nagar, Kandivali (East), Mumbai – 400101 (PAN: ARWPS1458D) (Appellant) (Respondent) Present for: Assessee : Shri Rajkumar Singh, CA Revenue : Smt. Mahita Nair,Sr. DR Date of Hearing : 30.04.2024 Date of Pronouncement : 27.05.2024 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the Revenue is against the order of Ld.…

Smt Pawanben Pannalal Gulecha, Mumbai vs. The ITO, Ward-18(2)(5), Mumbai

In the result, both the appeals of the assessee are allowed on merits

ITA 2844/MUM/2023[2010-2011]Status: DisposedITAT Mumbai19 Apr 2024AY 2010-2011

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

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Shri Pannalal Hastimal Vs. The ITO, Ward- Gulecha 23(2)(7), Mumbai 97/101, Manmandir Room No.306, 3rd Jewellers, Sheikh Memon Floor Street, Earnest House Mumbadevi Chamber Nariman Point 3rd Floor, Shop No.51, Mumbai – 400 021 Mumbai-400 002 PAN/GIR No.AACPG4621P (Appellant) .. (Respondent) Smt. Pawanben Pannalal Vs. The ITO, Ward-18(2)(5), Gulecha Mumbai Shop No.52, Mumbadevi Room No.306, 3rd Floor Chambers, Zaveri Bazar Earnest House Mumbai – 400 002 Nariman Point Mumbai – 4…

Shri Pannalal Hastimal Gulecha, Mumbai vs. The ITO, Ward-23(2)(7), Mumbai

In the result, both the appeals of the assessee are allowed on merits

ITA 2228/MUM/2023[2012-13]Status: DisposedITAT Mumbai19 Apr 2024AY 2012-13

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

Rohit Devendra Goyal, Mumbai vs. Income Tax Officer-33(3)(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 3704/MUM/2023[2014-15]Status: DisposedITAT Mumbai10 Apr 2024AY 2014-15

Section 10(38)Section 68Section 69ASection 69C

…2 ITA No. 3704/Mum/2023 Shri Rohit Devendra Goyal 2. As per the grounds of appeal, the assessee has challenged the denial of exemption of Long Term Capital Gain (LTCG) claimed under section 10(38) of the Act and loan taken from the aforesaid party along with other disallowances. The additions/ disallowances against which the assessee is in appeal before us are as under: Additions of Rs. 49,85,630/- by treating the LTCG from sale of shares as Unexplained Cash Credits. The disallowance u/s 69C of the Act made on account of commission for obtaining LTCG entry amounting to Rs.2,49,281/- The addition U/s 68 of Rs.75,0…

Samrat Finvestors Private Limited., Kolkata vs. ITO, Ward- 10(2), Kolkata.

In the result, appeal of the assessee is allowed

ITA 840/KOL/2023[2014-15]Status: DisposedITAT Kolkata11 Jan 2024AY 2014-15

Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 840/Kol/2023 Assessment Year: 2014-15 Samrat Finvestors Private Limited Income Tax Officer, Ward – 10(2), 20/1, Maharshi Debendra Vs Kolkata 2Nd Floor, Room No. 13A Kolkata - 700007 [Pan : Aadcs4698G] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury, A/R Revenue By : Shri B.K. Singh, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 14/12/2023 घोषणा क" तारीख /Date Of Pronouncement: 11/01/2024 आदेश/O R D E R Per Shri Rajesh Kumar: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi, [Hereinafter The “Ld. Cit(A)”] Dt. 27/06/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2014-15. 2. The Assessee In The Instant Appeal Has Raised Two Effective Issues In The Various Grounds Before Us Which Are Summed Up As Under:- (I) That The Ld. Cit(A) Has Erred On Facts & In Law In Confirming The Disallowance Of Rs.3,98,50,208/- As Made By The Assessing Officer On Account Alleged Bogus Loss In Share Trading & In F&O Segment. (Ii) The Ld. Cit(A) Has Erred On Facts & In Law In Upholding The Addition Of Rs.11,58,944/- As Made By The Assessing

For Appellant: Shri Soumitra Choudhury, A/RFor Respondent: Shri B.K. Singh, JCIT, Sr. D/R

Section 133(6)Section 14ASection 250

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, HON’BLE ACCOUNTANT MEMBER & SHRI SONJOY SARMA, HON’BLE JUDICIAL MEMBER I.T.A. No. 840/Kol/2023 Assessment Year: 2014-15 Samrat Finvestors Private Limited Income Tax Officer, Ward – 10(2), 20/1, Maharshi Debendra Vs Kolkata 2nd Floor, Room No. 13A Kolkata - 700007 [PAN : AADCS4698G] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Soumitra Choudhury, A/R Revenue by : Shri B.K. Singh, JCIT, Sr. D/R सुनवाई क" तारीख/Date of Hearing : 14/12/2023 घोषणा क" तारीख /Date of Pronouncement:…

Nalanda Builders Pvt. Ltd., Kolkata vs. D.C.I.T., Central Circle - 2(1), Kolkata

In the result the appeal of the assessee is allowed

ITA 763/KOL/2022[2013-2014]Status: DisposedITAT Kolkata11 Jan 2024AY 2013-2014

Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 763/Kol/2022 Assessment Year: 2013-14 Nalanda Builders Pvt. Ltd. Dcit, Central Circle-2(1), Kolkata 5, Sree Charan Sarani Vs Bally Howrah – 711201 (West Bengal) [Pan : Aabcn7736Q] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Soumitra Choudhury, A/R Revenue By : Shri P.P. Barman, Addl. Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 30/11/2023 घोषणा क" तारीख /Date Of Pronouncement: 11/01/2024 आदेश/O R D E R Per Shri Rajesh Kumar: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi, [Hereinafter The “Ld. Cit(A)”] Dt. 23/11/2022, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2013-14. 2. The Issues Raised In Ground Nos. 2 To 4 Is Against The Confirmation Of Addition As Made By The Assessing Officer On Account Of Difference Between The Value Taken By The Assessee & The Fair Market Value (Fmv) U/S 50C Of The Act. 3. The Facts In Brief Are That During The Year, The Assessee Sold Two Flats For An Aggregate Consideration Of Rs.3,00,00,000/- & Accordingly Addition Of Rs.3,26,37,314/- Was Made To The Income Of The Assessee. In 2

For Appellant: Shri Soumitra Choudhury, A/RFor Respondent: Shri P.P. Barman, Addl. CIT, Sr. D/R

Section 131Section 133(6)Section 250Section 50CSection 56(2)(x)

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, HON’BLE ACCOUNTANT MEMBER & SHRI SONJOY SARMA, HON’BLE JUDICIAL MEMBER I.T.A. No. 763/Kol/2022 Assessment Year: 2013-14 Nalanda Builders Pvt. Ltd. DCIT, Central Circle-2(1), Kolkata 5, Sree Charan Sarani Vs Bally Howrah – 711201 (West Bengal) [PAN : AABCN7736Q] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Soumitra Choudhury, A/R Revenue by : Shri P.P. Barman, Addl. CIT, Sr. D/R सुनवाई क" तारीख/Date of Hearing : 30/11/2023 घोषणा क" तारीख /Date of Pronouncement: 11/01/2024 आदे…