What is PCIT v. Swati Bajaj authority for?

Tax authorities are entitled to examine surrounding circumstances and apply the test of human probabilities to determine the genuineness of long-term capital gains arising from the sale of manipulated penny stock, even if prima facie documents appear to support the transaction.

How many judgments cite PCIT v. Swati Bajaj?

420 judgments on BharatTax cite PCIT v. Swati Bajaj (139 Taxmann.com 352), spanning 2022 to 2026.

Which sections of the Income Tax Act does PCIT v. Swati Bajaj come up under?

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

PCIT v. Swati Bajaj (139 Taxmann.com 352)

RAKESH KUMAR AGARWAL,HALDIA vs. I.T.O., WARD - 27(1),, HALDIA

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 1696/KOL/2025[2017-2018]Status: DisposedITAT Kolkata17 Apr 2026AY 2017-2018

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 144Section 147Section 148Section 151ASection 250Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘SMC’ BENCH AT KOLKATA Before SHRI SONJOY SARMA, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No(s). 1696/KOL/2025 Assessment Year(s) 2017-18 Rakesh Kumar Agarwal I.T.O., Ward-27(1), Haldia Vs. (Appellant) (Respondent) PAN: AEAPA2725C Appearances: Assessee represented by : S. Jhajaria, AR. Department represented by : Pampa Ray, Sr. DR. Date of concluding the hearing : 02-April-2026 Date of pronouncing the order : 17-April-2026 ORDER PER RAKESH MISHRA, ACCOUNTANT MEMBER: This appeal filed by the assessee is against the order of the Commissioner of Income…

RAMESHKUMAR KARSANBHAI PATEL,SURAT vs. ITO, WARD 2(3)(5), SURAT

Accordingly the estimated addition made of Rs.35,166/-[0.5% of 70,33,182/-] by the AC invoking provision of section 69C of the I.T Act stand deleted. Thus this ground is allowed

ITA 669/SRT/2025[2015-16]Status: DisposedITAT Surat09 Apr 2026AY 2015-16

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

Section 10(38)Section 115Section 115BSection 250Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT MS. SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A. No. 669/SRT/2025 (Assessment Year: 2015-16) Rameshkumar Karsanbhai Patel, Income Tax Officer, Vs. 87, C/o. Hariom Timber Mart, Ward 2(3)(5), Varachha Road, Surat-395006 Surat [PAN : AKNPP 8286 A] (Appellant) .. (Respondent) Appellant represented by : Shri Rajesh Upadhyay, AR Respondent represented by: Shri Ajay Uke, Sr DR Date of Hearing 23.01.2026 Date of Pronouncement 09.04.2026 O R D E R PER DR. B.R.R. KUMAR, VICE-PRESIDENT:- This appeal has been filed by the assessee…

GYAN PRAKASH GUPTA,NEW DELHI vs. ITO WARD-10(4), NEW DELHI

In the result, appeal filed by the assessee is allowed

ITA 6271/DEL/2019[2015-16]Status: DisposedITAT Delhi09 Apr 2026AY 2015-16

Bench: Shri S Rifaur Rahman & Shri Vimal Kumarlate Gyan Prakash Gupta Vs. Ito Through Legal Heir Raj Ward 10(4) Kumari Gupta New Delhi Plot No.6 & 7, Defence Enclave, Laxmi Nagar, East Delhi 110092 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Adupg 2697 N Appellant .. Respondent

For Appellant: Sh. Ajit Gandhi, AdvFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR

Section 10Section 10(38)Section 143(2)Section 143(3)Section 250Section 68

…investigation carried out by Directorate of Investigation, Kolkatta on accommodation entry of LTCG and identified beneficiaries who have taken bogus entry of LTCG. The findings given by Hon'ble ITAT Delhi, based upon the judgment of PCIT vs Swati Bajaj (2022) 446 ITR 56 (Cal). 10. A reliance was placed on - Suman Poddar Vs. ITO[2020] 268 taxmann 320(SC) (22.11.2019) (2019). 112 taxmann.com 329 (Delhi) High Court of Delhi. - Pr. Commissioner of Income Tax Vs Swati Bajaj on 14.06.2022 (Calcutta High Court) - Hemll Subhashbhai Shah Vs DCIT (ITAT) ITA No 1121/Ahd/2018 & ITA No 961/Ahd/2019 - Udit Kalra Vs ITO 2019-T…

PRAMOD LAKRA, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), KOLKATA, KOLKATA vs. ANUSHIKHA INVESTMENTS PRIVATE LIMITED, KOLKATA

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 360/KOL/2025[2016-17]Status: DisposedITAT Kolkata07 Apr 2026AY 2016-17

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 131Section 143(1)Section 143(2)Section 143(3)Section 148Section 148ASection 250Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH AT KOLKATA Before SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No(s). 360/KOL/2025 Assessment Year(s) 2016-17 DCIT, Circle-11(1), Kolkata Anushikha Investments Vs. Private Limited (Appellant) (Respondent) PAN: AACCA5568N Appearances: Department represented by : Anup Biswas, CIT, DR. Assessee represented by : N.S. Saini, AR and Priyanka Salarpuria, AR. Date of concluding the hearing : 17-March-2026 Date of pronouncing the order : 07-April-2026 ORDER PER RAKESH MISHRA, ACCOUNTANT MEMBER: This appeal filed by the Revenue is aga…

M/S. PEARL TRACOM PVT. LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(1), , KOLKATA

In the result, the appeal of the assessee is allowed

ITA 1201/KOL/2025[2019-2020]Status: HeardITAT Kolkata02 Apr 2026AY 2019-2020

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm M/S Pearl Tracom Pvt. Ltd. Dcit, Central Circle 3(1) C/O M/S Salarpuriajajodia& Co.7, Aaykar Bhawan, P-7, C.R. Avenue, 3Rd Floor, Chworinghee Square, Kolkata- Vs. Kolkata-700072, West Bengal 700069, West Bengal (Appellant) (Respondent) Pan No. Aabcp9934G Assessee By : Shri Siddarth Jhajharia, Ar Revenue By : Shri Sanat Kumar Raha, Dr Date Of Hearing: 02.04.2026 Date Of Pronouncement: 02.04.2026

For Appellant: Shri Siddarth Jhajharia, ARFor Respondent: Shri Sanat Kumar Raha, DR

Section 133(6)Section 133ASection 143(3)Section 148Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRIPRADIP KUMAR CHOUBEY, JM M/s Pearl Tracom Pvt. Ltd. DCIT, Central Circle 3(1) C/o M/s SalarpuriaJajodia& Co.7, Aaykar Bhawan, P-7, C.R. Avenue, 3rd Floor, Chworinghee Square, Kolkata- Vs. Kolkata-700072, West Bengal 700069, West Bengal (Appellant) (Respondent) PAN No. AABCP9934G Assessee by : Shri Siddarth Jhajharia, AR Revenue by : Shri Sanat Kumar Raha, DR Date of hearing: 02.04.2026 Date of pronouncement: 02.04.2026 O R D E R Per Rajesh Kumar, AM: This is an appeal preferred by the assessee against the order of the…

KAUSHALIYA SAMPATLAL DUDANI,JAMNAGAR vs. INCOME TAX OFFICER, WARD 2(6), JAMNAGAR

In the result, the appeal of the assessee is allowed

ITA 659/RJT/2025[2012-13]Status: DisposedITAT Rajkot01 Apr 2026AY 2012-13

Bench: Dr. Arjun Lal Sainiआयकर अपील सं./ Ita No.659/Rjt/2025 िनधा"रण वष"/Assessment Year :2012-2013 Kaushaliya Sampatlal Dudani The Ito, Ward-2(6), बनाम/ K-1/79/4 G.I.D.C., Shanker Ayakar Bhawan, Jamnagar Vs Tekri, Udyognagar, Jamnagar Jamnagar. Gujarart-361005 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Abnpd8662P (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रती की ओर से/Assessee By : Shri Sagar Shah, Ld. Ar राज" की ओर से/Revenue By : Shri Abhimanyu Singh, Ld. Sr-Dr

For Appellant: Shri Sagar Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh, Ld. Sr-DR

Section 10(38)Section 147Section 250Section 68Section 69

…आयकर अपीलीय अिधकरण,राजकोट "ायपीठ, राजकोट। IN THE INCOME TAX APPELLATE TRIBUNAL, “SMC” RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No.659/RJT/2025 िनधा"रण वष"/Assessment Year :2012-2013 Kaushaliya Sampatlal Dudani The ITO, Ward-2(6), बनाम/ K-1/79/4 G.I.D.C., Shanker Ayakar Bhawan, Jamnagar Vs Tekri, Udyognagar, Jamnagar Jamnagar. Gujarart-361005 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: ABNPD8662P (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रती की ओर से/Assessee by : Shri Sagar Shah, Ld. AR राज" की ओर से/Revenue by : Shri Abhimanyu Singh, Ld. Sr-DR सुनवाई की तारीख/Date of Hearing…

VANEET AGGARWAL,NEW DELHI vs. ACIT, CIRCLE-14(2), NEW DELHI

In the result, appeal of the Assessee is dismissed

ITA 2607/DEL/2019[2015-16]Status: DisposedITAT Delhi13 Mar 2026AY 2015-16

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

Section 10(38)Section 143(1)Section 143(2)Section 69ASection 69C

…Investigation carried out by Directorate of Investigation, Kolkatta on accommodation entry of LTCG and Identified beneficiaries who have taken bogus entry of LTCG. The findings given by Hon'ble ITAT Delhi, based upon the Judgment of PCIT vs Swat! Bajaj (2022) 446 ITR 56 (Cal), are as under: - "16. Let us now peep into the precedents. 16.1 In Pr. CIT vs. Swati Bajaj (2022) 446 ITR 56(Cal), the AO received Information from Investigation Wing that the prices of some shares of penny stock companies which included the company X in which the assessee made Investment, were artificially rigged to benefit shareholders t…

MR. MURUGAN KARTHIK MEIYAPPAN,CHENNAI vs. ITO, NCW-10(6), CHENNAI

In the result the appeal of the assessee is allowed

ITA 2184/CHNY/2025[2015-16]Status: DisposedITAT Chennai04 Mar 2026AY 2015-16

Bench: Shri George George K & Shri S.R. Raghunatha

For Appellant: Shri. B. Ramakrishnan, F.C.A )*For Respondent: Shri. N. Rajakumar, Addl. CIT

Section 142(1)Section 143(2)Section 147Section 148Section 15HSection 234BSection 250

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी जॉज" जॉज" के, उपा"य" एवं "ी एस.आर.रघुनाथा, लेखा सद$य के सम" BEFORE SHRI GEORGE GEORGE K, VICE PRESIDENT AND SHRI S.R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 2184/Chny/2025 &नधा"रण वष" / Assessment Year: 2015-16 Mr. Murugan Karthik ITO, Meiyappan, vs. Non Corporate Ward 10(6), New No. 7, Old No. 9-A, AVM Chennai. Avenue, Dr Radhakrishnan Salai, Mylapore, Chennai – 600 004. [PAN: AACPM-8115-E] (अपीलाथ(/Appellant) ()*यथ(/Respondent) अपीलाथ( क+ ओर से/Appellant by : Shri. B. Ramakrishnan, F.C.A )*यथ( क…

NAYNA MUKESH SHAH ,MUMBAI vs. DCIT, CIRCLE 41(2)(1), MUMBAI

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

ITA 1861/MUM/2025[2011-12]Status: DisposedITAT Mumbai27 Feb 2026AY 2011-12

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm Ms. Nayna Mukesh Shah, Dcit, Circle 41(2)(1), 14E, Konark Darshan, Kautilya Bhavan, G Block Bkc, Jain Mandir Road, Sarvodaya Nagar, Vs. Bandra Kurla Complex, Mulund (W), Bandra (East), Mumbai-400080 Mumbai – 400051. Pan: Aoqps4652E (Appellant) (Respondent) :

For Respondent: Shri Swapnil Choudhari, Sr. AR

Section 147Section 250Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, AM AND MS. KAVITHA RAJAGOPAL, JM Ms. Nayna Mukesh Shah, DCIT, Circle 41(2)(1), 14E, Konark Darshan, Kautilya Bhavan, G Block BKC, Jain Mandir Road, Sarvodaya Nagar, Vs. Bandra Kurla Complex, Mulund (W), Bandra (East), Mumbai-400080 Mumbai – 400051. PAN: AOQPS4652E (Appellant) (Respondent) : : None Assessee by Respondent by : Shri Swapnil Choudhari, Sr. AR Date of Hearing : 11.02.2026 Date of Pronouncement : 27.02.2026 O R D E R Per Kavitha Rajagopal, JM: This appeal has been filed by the assessee, challenging the order of the…