PCIT v. Krishna Devi

126 Taxmann.com 80High Court2021#346 most cited

What is PCIT v. Krishna Devi authority for?

The genuineness of share transactions, particularly those generating long-term capital gains, cannot be rejected solely based on general investigation reports, third-party statements, or a mere increase in share price, when the assessee provides comprehensive documentary evidence, without the Revenue bringing substantial evidence to the contrary.

249

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2021 to 2026.

Also referred to as

PCIT v. Krishna Devi · Section 10(38) · Section 68 · Section 143(3) · long term capital gains · bogus share transactions · penny stock · documentary evidence · genuineness of transactions · investigation report · third party information · preponderance of probability

Sections most often in play

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

Issues it is cited on

price riggingbogus ltcgpreponderance of probabilitysection 142(2)bogus long term capital gainpenny stocksection 10(38)third party informationentry operatorperiod of holdinglong term capital gainslive link

Judgments citing PCIT v. Krishna Devi

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

…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 Omprakash Asaram Mantri Vs. Abhay Oil Industries, Plot No.C-231, Old MIDC Area, Jalna – 431203 PAN: AAWPM2711J (Appellant) (Respondent) ITA Nos.142 & 143/PUN/2024 Assessment years : 2011-12 & 2012-13 ITO, Ward-1, Jalna Atul Omprakash Mantri Abhay Oil Industries, Plot No.C-231, Vs. Old MIDC Area, Jalna – 431203 PAN: ABEPM0285E (Appellant) (Respondent) ITA Nos.145 & 146/PUN/2024 Assessment year…

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

…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 Omprakash Asaram Mantri Vs. Abhay Oil Industries, Plot No.C-231, Old MIDC Area, Jalna – 431203 PAN: AAWPM2711J (Appellant) (Respondent) ITA Nos.142 & 143/PUN/2024 Assessment years : 2011-12 & 2012-13 ITO, Ward-1, Jalna Atul Omprakash Mantri Abhay Oil Industries, Plot No.C-231, Vs. Old MIDC Area, Jalna – 431203 PAN: ABEPM0285E (Appellant) (Respondent) ITA Nos.145 & 146/PUN/2024 Assessment year…

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

…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 Omprakash Asaram Mantri Vs. Abhay Oil Industries, Plot No.C-231, Old MIDC Area, Jalna – 431203 PAN: AAWPM2711J (Appellant) (Respondent) ITA Nos.142 & 143/PUN/2024 Assessment years : 2011-12 & 2012-13 ITO, Ward-1, Jalna Atul Omprakash Mantri Abhay Oil Industries, Plot No.C-231, Vs. Old MIDC Area, Jalna – 431203 PAN: ABEPM0285E (Appellant) (Respondent) ITA Nos.145 & 146/PUN/2024 Assessment year…

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

…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 Omprakash Asaram Mantri Vs. Abhay Oil Industries, Plot No.C-231, Old MIDC Area, Jalna – 431203 PAN: AAWPM2711J (Appellant) (Respondent) ITA Nos.142 & 143/PUN/2024 Assessment years : 2011-12 & 2012-13 ITO, Ward-1, Jalna Atul Omprakash Mantri Abhay Oil Industries, Plot No.C-231, Vs. Old MIDC Area, Jalna – 431203 PAN: ABEPM0285E (Appellant) (Respondent) ITA Nos.145 & 146/PUN/2024 Assessment year…

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

…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 Omprakash Asaram Mantri Vs. Abhay Oil Industries, Plot No.C-231, Old MIDC Area, Jalna – 431203 PAN: AAWPM2711J (Appellant) (Respondent) ITA Nos.142 & 143/PUN/2024 Assessment years : 2011-12 & 2012-13 ITO, Ward-1, Jalna Atul Omprakash Mantri Abhay Oil Industries, Plot No.C-231, Vs. Old MIDC Area, Jalna – 431203 PAN: ABEPM0285E (Appellant) (Respondent) ITA Nos.145 & 146/PUN/2024 Assessment year…

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

…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 Omprakash Asaram Mantri Vs. Abhay Oil Industries, Plot No.C-231, Old MIDC Area, Jalna – 431203 PAN: AAWPM2711J (Appellant) (Respondent) ITA Nos.142 & 143/PUN/2024 Assessment years : 2011-12 & 2012-13 ITO, Ward-1, Jalna Atul Omprakash Mantri Abhay Oil Industries, Plot No.C-231, Vs. Old MIDC Area, Jalna – 431203 PAN: ABEPM0285E (Appellant) (Respondent) ITA Nos.145 & 146/PUN/2024 Assessment year…

Assistant Commissioner of Income Tax- 4(1)(1), Mumbai vs. Ankur Agrawal, Mumbai

In the result, both the appeals filed by the Assessee are allowed

ITA 5179/MUM/2024[2012-13]Status: DisposedITAT Mumbai16 Jun 2025AY 2012-13

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

Section 10(38)Section 250Section 68

…CIT(A). The part of the extract of the decision of the ld. CIT(A) from page No.174 to 189 is reproduced as under:- “16 Judgements of Hon'ble High Courts:- 16.1 The Hon'ble Delhi High Court in case of PCIT & Others vs. Krishna Devi & Others reported in (2021) 431 ITR 361: “ITAT Delhi Bench had deleted addition made u/s 68 of the Act in the case of assessee Smt. Krishna Devi. The Department went in appeal before the Hon'ble Delhi High Court against such deletion. The Hon'ble Delhi High Court upheld the order of the ITAT in PCIT and Others vs. Krishna Devi and Others reported in (2021) 431 ITR 361. The Hon'ble Delh…

Leela Tarachand Kothari, Mumbai vs. Income Tax Officer -19(2)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 2453/MUM/2024[2014-15]Status: DisposedITAT Mumbai10 Jun 2025AY 2014-15

Bench: Shri Sandeep Gosain & Shri Prabhash Shankarleela Tarachand Kothari, V/S. Income Tax Officer – 1St Floor, Naimal Niketan, बनाम 19(2)(1), Room No. 221, 221, Khetwadi Main Road, Matru Mandir, Tardeo Road, Mumbai - 400 004, Mumbai – 400007, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaqpk2820K Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Ms.Rutuja Pawar & Ms Saiyami Shah, ARsFor Respondent: Shri Aditya Rai (Sr. DR)
Section 143(3)Section 68

…We hold that the Appeals do not raise any substantial question of law. They are accordingly dismissed. There would no order as to costs." P a g e | 11 A.Y. 2014-15 Leela Tarachand Kothari Hon'ble Delhi High Court in the case of Pr.CIT vs Smt. Krishna Devi 431 ITR 361 (Del). The relevant paragraph is enclosed herewith: - "12. Mr. Hossain's submissions relating to the spike in the share price and other factors may be enough to show circumstances that might create suspicion; however the Court has to decide an issue on the basis of evidence and proof, and not on suspicion alone. The theory of human behavior and…

Amee Shreyance Shah, Mumbai vs. Income Tax Officer Ward 19(1)(1), Mumbai

In the result, the above appeal of the assessee is

ITA 2450/MUM/2024[2012-13]Status: DisposedITAT Mumbai10 Jun 2025AY 2012-13

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

For Appellant: Shri Anil Kshatriya, ARFor Respondent: Shri Aditya Rai, (Sr. DR)
Section 10(38)Section 143(3)Section 147Section 148Section 234BSection 271(1)(c)Section 68

…jected without bringing on record any substantial piece of evidence. Reference could also be made to a plethora of decisions of hon'ble Bombay High court on similar issue i.e. CIT vs. Shyam R. Pawar-54 Taxmann.com 108 (Bom-HC], Pr. CIT vs. Smt. Krishna Devi - 126 Taxmann.com 80 (Del-HC), Pr. CIT vs. Ziauddin A. Siddique ITA No. 2012 of 2017 (Bom-HC),- Page | 9 ITA No. 2450/Mum/2024 A.Y. 2012-13 Amee Shreyance Shah, Mumbai Shyam Pawar (54 taxmann.com 108) (Bom), PCIT vs. Indravadan Jain (HUF) (ITA No. 454 of 2018) (Bom),CIT vs. Jamnadevi Agarwal 20 taxmann.com 529 (Bom)etc. The Hon'ble Bombay High Court has consis…

Shri Sanjaybhai Ramjibhai Patel, Bhavnagar vs. ITO, Ward-1(5), Bhavnagar

ITA 454/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad03 Jun 2025AY 2014-15

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita No. 452/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2014-2015

For Appellant: Shri TusharHemani, Sr. Advocate with Shri Parimalsinh B ParmarFor Respondent: Shri B.P Srivastava, Sr. DR
Section 10(38)Section 143(1)Section 143(2)Section 271(1)Section 68

…ng the claim of LTCG. The Ld.AR relied upon the following decisions: i. AlpaUdaykumar Shah Vs. ITO-ITA 391/Ahd/2018 ii. Sanjau P Mehta Vs. DCIT-ITA No.509/Ahd/2018 iii. Sejalben N. Vora and others –ITA No.329-331/Ahd/2018 iv. PCIT Vs. Smt. Krishna Devi-(2021) 431 ITR 361 (Del) v. CIT Vs. Smt. Sumitra Devi-(2014) 229 Taxmann 67 (Rajasthan) vi. CIT Vs. UditNarain Agarwal-(2013) 213 Taxmann 178 (Allahabad) vii. CIT Vs. Anurudh N. Agarwal-(2013) 219 Taxman 126 (Allahabad) viii. Kishinchand Chellarram125 ITR 713 (SC) ix. PCIT Vs. Charterred Speed P. Ltd. –Tax Appeal No.126 & 126 of 2015. x. Andaman Timber Industries V…

Smt. Shital Sanjaybhai Patel, Bhavnagar vs. ITO, Ward-1(5), Bhavnagar

ITA 453/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad03 Jun 2025AY 2014-15

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita No. 452/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2014-2015

For Appellant: Shri TusharHemani, Sr. Advocate with Shri Parimalsinh B ParmarFor Respondent: Shri B.P Srivastava, Sr. DR
Section 10(38)Section 143(1)Section 143(2)Section 271(1)Section 68

…ng the claim of LTCG. The Ld.AR relied upon the following decisions: i. AlpaUdaykumar Shah Vs. ITO-ITA 391/Ahd/2018 ii. Sanjau P Mehta Vs. DCIT-ITA No.509/Ahd/2018 iii. Sejalben N. Vora and others –ITA No.329-331/Ahd/2018 iv. PCIT Vs. Smt. Krishna Devi-(2021) 431 ITR 361 (Del) v. CIT Vs. Smt. Sumitra Devi-(2014) 229 Taxmann 67 (Rajasthan) vi. CIT Vs. UditNarain Agarwal-(2013) 213 Taxmann 178 (Allahabad) vii. CIT Vs. Anurudh N. Agarwal-(2013) 219 Taxman 126 (Allahabad) viii. Kishinchand Chellarram125 ITR 713 (SC) ix. PCIT Vs. Charterred Speed P. Ltd. –Tax Appeal No.126 & 126 of 2015. x. Andaman Timber Industries V…

Shri Jignesh Ramjibhai Patel, Bhavnagar vs. ITO, Ward-1(2), Bhavnagar

ITA 452/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad03 Jun 2025AY 2014-15

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita No. 452/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2014-2015

For Appellant: Shri TusharHemani, Sr. Advocate with Shri Parimalsinh B ParmarFor Respondent: Shri B.P Srivastava, Sr. DR
Section 10(38)Section 143(1)Section 143(2)Section 271(1)Section 68

…ng the claim of LTCG. The Ld.AR relied upon the following decisions: i. AlpaUdaykumar Shah Vs. ITO-ITA 391/Ahd/2018 ii. Sanjau P Mehta Vs. DCIT-ITA No.509/Ahd/2018 iii. Sejalben N. Vora and others –ITA No.329-331/Ahd/2018 iv. PCIT Vs. Smt. Krishna Devi-(2021) 431 ITR 361 (Del) v. CIT Vs. Smt. Sumitra Devi-(2014) 229 Taxmann 67 (Rajasthan) vi. CIT Vs. UditNarain Agarwal-(2013) 213 Taxmann 178 (Allahabad) vii. CIT Vs. Anurudh N. Agarwal-(2013) 219 Taxman 126 (Allahabad) viii. Kishinchand Chellarram125 ITR 713 (SC) ix. PCIT Vs. Charterred Speed P. Ltd. –Tax Appeal No.126 & 126 of 2015. x. Andaman Timber Industries V…

Ajay Kumar, Ghaziabad vs. Pr. CIT (Central), Meerut

In the result, appeal of the assessee is dismissed

ITA 733/DEL/2021[2016-17]Status: DisposedITAT Delhi30 May 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

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

…016) 47 CCH 309, ITAT Mumbai  Tapas Kumar Mallick, ITAT No. 8142/Del/2018 dated 19.03.2021 19 Ajay Kumar, Ghaziabad  Narendra Aggarwal, ITA No. 456/Del/2021 dated 04.04.2022  Uttam M Jain HUF, ITA No. 2427/Mum/2023 dated 23.11.2023  Krishna Devi, (2021) 431 ITR 361 (Del.)  Indravadan Jain HUF, ITA No. 454 of 2018 dated 12.07.2023 (Del.) 6.2 The Ld. Counsel further argued that the Ld. PCIT had neither brought anything on record to show whether the said Investigation report Kolkata Investigation Directorate of the Income Tax Dept. was actually available with the AO at the time of assessment nor it was speci…

ITO, Ghaziabad vs. Nupur Garg, Ghaziabad

In the result, the appeal of the assessee is allowed

ITA 2116/DEL/2024[2013-14]Status: DisposedITAT Delhi16 May 2025AY 2013-14

Bench: Shri Mahavir Singh & Shri M. Balaganesh

For Appellant: Shri Saif Ali, AdvFor Respondent: Shri Amit Katoch, Sr. DR
Section 10(38)Section 139(1)Section 144BSection 147Section 148Section 69A

…. 1691 /Del/2019 for AY 2013-14 dtd 7-10-2019). In fact, the Learned NFAC had vehemently relied on the said Tribunal decision of Reeshu Goel apart from placing reliance on the decision of Hon'ble Jurisdictional High Court in the case of PCIT vs Krishna Devi [ 431 ITR 361 (Del) ]. The Learned NFAC also observed that there is no direct or indirect material or statement that assessee was either beneficiary or was indulged in bogus transactions. The assessee on her part had duly discharged the onus by proving the genuineness of transaction by filing all the details relating to the purchase, dematerialization which wa…

Astt. Commissioner of Income Tax, Circle-4, Ludhiana, Aayakar Bhawan vs. Waryam Steel Casting Private Limited, Kanganwal Road

In the result, appeal of the assessee is allowed and the Cross appeal of the Revenue is dismissed

ITA 757/CHANDI/2024[2019-20]Status: DisposedITAT Chandigarh14 May 2025AY 2019-20

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Ashwani Kumar, C.A and Ms. Muskan Garg, C.AFor Respondent: Shri Ved Parkash Kalia, Sr. DR
Section 115JSection 148Section 250

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: PHYSICAL MODE "ी राजपाल यादव, उपा"" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. RAJPAL YADAV, VP &SHRI. KRINWANT SAHAY, AM आयकरअपीलसं./ ITA No. 715 /Chd/ 2024 िनधा"रणवष" / Assessment Year : 2019-20 M/s Waryam Steel Castings Private बनाम The DCIT Limited, Circle-4, Ludhiana Kanganwal Road, Jugiana, Ludhiana, Punjab-141010 "ायीलेखासं./PAN NO: AAACW1494P अपीलाथ"/Appellant ""थ"/Respondent आयकरअपीलसं./ ITA No. 757/Chd/ 2024 िनधा"रणवष" / Assessment Year : 2019-20 The ACIT बनाम M/s Waryam S…

Waryam Steel Castings Private Limited, Ludhiana vs. Deputy Commissioner of Income Tax, Circle-4, Ludhiana

In the result, appeal of the assessee is allowed and the Cross appeal of the Revenue is dismissed

ITA 715/CHANDI/2024[2019-20]Status: DisposedITAT Chandigarh14 May 2025AY 2019-20

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Ashwani Kumar, C.A and Ms. Muskan Garg, C.AFor Respondent: Shri Ved Parkash Kalia, Sr. DR
Section 115JSection 148Section 250

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: PHYSICAL MODE "ी राजपाल यादव, उपा"" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. RAJPAL YADAV, VP &SHRI. KRINWANT SAHAY, AM आयकरअपीलसं./ ITA No. 715 /Chd/ 2024 िनधा"रणवष" / Assessment Year : 2019-20 M/s Waryam Steel Castings Private बनाम The DCIT Limited, Circle-4, Ludhiana Kanganwal Road, Jugiana, Ludhiana, Punjab-141010 "ायीलेखासं./PAN NO: AAACW1494P अपीलाथ"/Appellant ""थ"/Respondent आयकरअपीलसं./ ITA No. 757/Chd/ 2024 िनधा"रणवष" / Assessment Year : 2019-20 The ACIT बनाम M/s Waryam S…

Rajendra, Mumbai vs. DCIT Circle 19(3), Mumbai

In the result, the appeal of the assessee is allowed

ITA 759/MUM/2025[AACPR4430M]Status: DisposedITAT Mumbai30 Apr 2025

Bench: Shri Pawan Singh & Shri Omkareshwar Chidara(Physical Hearing) बनाम Rajendra, Dcit Circle 19(3), Mumbai 317, Prasad Chamber, Opera House, Vs Piramal Chambers, Charni Road, Mumbai – 400004. Lalbaug, Parel, Pan No. Aacpr 4430 M Mumbai-400012. अपीलार्थी/Appellant प्रत्यर्थी /Respondent ननर्ाारितीकीओिसे /Assessee By Ms. Ruby Srivastava & Shri Bharat Kumar Ar’S िाजस्वकीओिसे /Revenue By Shri Anil Gupta, Sr. Dr Date Of Institution Of Appeal 03.02.2025 27.02.2025 सुनवाईकीतािीख/Date Of Hearing उद्घोषणाकीतािीख/Date Of 30.04.2025 Pronouncement Order Under Section 254(1) Of Income Tax Act

Section 132(4)Section 143(1)Section 148Section 254(1)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER (Physical Hearing) बनाम Rajendra, DCIT Circle 19(3), Mumbai 317, Prasad Chamber, Opera House, Vs Piramal Chambers, Charni Road, Mumbai – 400004. Lalbaug, Parel, PAN No. AACPR 4430 M Mumbai-400012. अपीलार्थी/Appellant प्रत्यर्थी /Respondent ननर्ाारितीकीओिसे /Assessee by Ms. Ruby Srivastava & Shri Bharat Kumar AR’s िाजस्वकीओिसे /Revenue by Shri Anil Gupta, Sr. DR Date of institution of appeal 03.02.2025 27.02.2025 सुनवाईकीतािीख/Date of hearing उद्घोषणाकीतािीख/Date of 30…

Shilpa Khandelwal, Bareilly vs. Deputy Commissioner of Income Tax-2, Bareilly

In the result, the appeal of the assessee is partly allowed

ITA 313/LKW/2023[2015-2016]Status: DisposedITAT Lucknow24 Apr 2025AY 2015-2016

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2015-16 Smt. Shilpa Khandelwal V. The Dy. Cit-2 330, Kalibari Bareilly Bareilly (U.P) Tan/Pan:Arypk5700A (Appellant) (Respondent) Appellant By: Shri P. K. Kapoor, C.A. Respondent By: Shri Sanjeev Krishna Sharma, D.R. Date Of Hearing: 27 02 2025 Date Of Pronouncement: 24 04 2025 O R D E R

For Appellant: Shri P. K. Kapoor, C.AFor Respondent: Shri Sanjeev Krishna Sharma, D.R
Section 10(38)Section 143Section 143(2)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, LUCKNOW BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER Assessment Year: 2015-16 Smt. Shilpa Khandelwal v. The Dy. CIT-2 330, Kalibari Bareilly Bareilly (U.P) TAN/PAN:ARYPK5700A (Appellant) (Respondent) Appellant by: Shri P. K. Kapoor, C.A. Respondent by: Shri Sanjeev Krishna Sharma, D.R. Date of hearing: 27 02 2025 Date of pronouncement: 24 04 2025 O R D E R This appeal has been preferred by the Assessee against the order dated 11.08.2023, passed by the ld. Commissioner of Income Tax (Appeal), National Faceless Appeal Centre (NFAC), Delhi for Assessment Year 20…

ITO-19(3)(1), Mumbai vs. Raichand Parasmal Chokshi, Mumbai

In the result, both the appeals by the revenue are dismissed

ITA 1486/MUM/2024[2017-18]Status: DisposedITAT Mumbai22 Apr 2025AY 2017-18

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2017-18 Income Tax Officer 19(3)(1) Raichand Parasmal Chokshi 405, Piramal Chambers, 305, Ashirwad Building, Lalabaug 10Th Khetwadi Lane, Vs. Mumbai 400012 Mumbai 400004. (Pan: Aaapc6486C) (Appellant) (Respondent) Assessment Year: 2017-18 Income Tax Officer 19(3)(1) Raichand Parasmal Chokshi 405, Piramal Chambers, Huf Lalabaug 305, Ashirwad Building, Mumbai 400012 Vs. 10Th Khetwadi Lane, Mumbai 400004. (Pan: Aaahr1005A) (Appellant) (Respondent) Present For: Assessee : Shri Umang Shah, Ca Revenue : Shri R.R. Makwana, Addl. Cit Date Of Hearing : 23.01.2025 Date Of Pronouncement : 22.04.2025 O R D E R Per Girish Agrawal: These Two Appeals Filed By The Revenue Are In The Case Of An Individual & Huf Against The Order Of Ld. Cit(A), National Faceless Appeal Centre (Nfac) Delhi, Vide Order No. Itba/Nfac/S/250/2023- Ay 2017-18 24/1060184522(1) Dated 29.01.2024 For Individual & Order No. Itba/Nfac/S/250/2024-25/1064573907(1), Dated 02.05.2024 For The Huf, Passed Against The Assessment Orders By Income Tax Officer 19(3)(1), Mumbai U/S. 144 R.W.S 147 Of The Income-Tax Act (Hereinafter Referred To As The “Act”), Dated 29.05.2023 & 21.04.2023, Respectively For Individual & Huf For Assessment Year 2017-18. 2. Appeal In Ita No. 1486/Mum/2024 Is By The Individual & That In Ita No. 3374/Mum/2024 Is By The Huf With The Present Individual As Its Karta. Common Issue Is Involved In Both The Appeals By The Revenue, Raising Identical Grounds Except For Variation In The Quantum Of Addition Made By The Ld. Assessing Officer. Accordingly, Grounds Taken By The Revenue In The Case Of Individual In Ita No. 1486/Mum/2024 Are Reproduced As Under:

For Appellant: Shri Umang Shah, CAFor Respondent: Shri R.R. Makwana, Addl. CIT
Section 10Section 10(38)Section 144Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL D” BENCH MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2017-18 Income Tax Officer 19(3)(1) Raichand Parasmal Chokshi 405, Piramal Chambers, 305, Ashirwad Building, Lalabaug 10th Khetwadi Lane, Vs. Mumbai 400012 Mumbai 400004. (PAN: AAAPC6486C) (Appellant) (Respondent) Assessment Year: 2017-18 Income Tax Officer 19(3)(1) Raichand Parasmal Chokshi 405, Piramal Chambers, HUF Lalabaug 305, Ashirwad Building, Mumbai 400012 Vs. 10th Khetwadi Lane, Mumbai 400004. (PAN: AAAHR1005A) (Appellant) (Respondent) Present for: As…

Income Tax Officer -19(2)(2), Mumbai vs. Mitesh Mehta HUF, Mumbai

In the result, appeal of the revenue is dismissed

ITA 2280/MUM/2024[2015]Status: DisposedITAT Mumbai07 Apr 2025

Bench: Shri Saktijit Dey & Shri Girish Agrawalassessment Year: 2015-16

For Appellant: Shri Mitesh Mehta, CAFor Respondent: Shri R. R. Makwana, Addl. CIT
Section 143(3)Section 68Section 69

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2015-16 Income Tax Officer- 19(2)(2), Mitesh Mehta HUF, Mumbai 432, Lamington Road, Shigney Building, Vs. Opera House, Mumbai – 400004 (PAN : AADHM4374A) (Appellant) (Respondent) Present for: Assessee : Shri Mitesh Mehta, CA Revenue : Shri R. R. Makwana, Addl. CIT Date of Hearing : 09.01.2025 Date of Pronouncement : 07.04.2025 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the Revenue is against the order of Ld. CIT(A), National…