PCIT v. Swati Bajaj

139 Taxmann.com 352High Court2022#160 most cited

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.

443

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2022 to 2026.

Also referred to as

PCIT v. Swati Bajaj · Swati Bajaj · section 10(38) · long term capital gain · LTCG on penny stock · bogus capital gain · manipulated shares · surrounding circumstances · human probabilities test · genuineness of transaction · onus of proof

Also reported as

446 ITR 56288 Taxmann 403

Sections most often in play

Section 68Section 147Section 143(3)Section 148Section 10(38)Section 69CSection 142(1)Section 143(2)
Read the full judgment

Issues it is cited on

price riggingsection 142(3)bogus ltcgbogus long term capital gainpenny stocksection 142(2)onus of proofpreponderance of probabilitysection 10(38)paper companyentry operatorcircular trading

Judgments citing PCIT v. Swati Bajaj

Abhilash Tradecom Pvt. Ltd., Kolkata vs. ITO, Ward-3(2), Kolkata

ITA 132/KOL/2021[2011-12]Status: DisposedITAT Kolkata07 Mar 2023AY 2011-12

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Tarasafe International Private Limited, Kolkata vs. D.C.I.T., Circle-15(2), Kolkata

ITA 261/KOL/2020[2013-14]Status: DisposedITAT Kolkata07 Mar 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

M/S Coalsale Co., Kolkata vs. A.C.I.T., Circle-34, Kolkata

ITA 23/KOL/2020[2015-16]Status: DisposedITAT Kolkata07 Mar 2023AY 2015-16

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Ps Magnum, Kolkata vs. A.C.I.T., Circle-29, Kolkata

ITA 136/KOL/2020[2013-14]Status: DisposedITAT Kolkata07 Mar 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Reachasia, Kolkata vs. A.C.I.T., Circle-29, Kolkata

ITA 108/KOL/2020[2014-15]Status: DisposedITAT Kolkata07 Mar 2023AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Reachasia, Kolkata vs. ACIT, Cir.-29, Kolkata

ITA 107/KOL/2020[2013-14]Status: DisposedITAT Kolkata07 Mar 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Hiralal Bhandari, Legal Hair of Late Champalal Bhandari, Kolkata vs. A.C.I.T., Circle-37, Kolkata

ITA 2449/KOL/2019[2014-15]Status: DisposedITAT Kolkata07 Mar 2023AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Hiralal Bhandari, Legal Hair of Late Champalal Bhandari, Kolkata vs. A.C.I.T., Circle-37, Kolkata

ITA 2448/KOL/2019[2013-14]Status: DisposedITAT Kolkata07 Mar 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

M/S H.K.Dutta & Co., Kolkata vs. A.C.I.T., Circle-37, Kolkata

ITA 2385/KOL/2019[2014-15]Status: DisposedITAT Kolkata07 Mar 2023AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Hiralal Bhandari, Kolkata vs. ITO, Ward-37(1), Kolkata

ITA 2317/KOL/2019[2014-15]Status: DisposedITAT Kolkata07 Mar 2023AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Hiralal Bhandari, Kolkata vs. ITO, Ward-37(1), Kolkata

ITA 2316/KOL/2019[2013-14]Status: DisposedITAT Kolkata07 Mar 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Orient Industrial Corporation, Kolkata vs. ACIT, Circle - 35, Kolkata

ITA 2247/KOL/2017[2013-14]Status: DisposedITAT Kolkata07 Mar 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Manish Boradi.T.A. No. 261/Kol/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/O. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [Pan:Aadct0645E] -Vs.- Deputy Commissioner Of Income Tax,.........................Respondent Circle-15(2), Kolkata, Aayakar Bhawan Poorva, 110, Shantipally, Kolkata-700107

…ITA No.261/KOL/2020, ITA Nos. 107, 108/KOL/2020, ITA No. 136/KOL/2020, ITA No. 23/KOL/2020, ITA Nos. 132 & 133/KOL/2021, ITA No. 2247/KOL/2017, ITA Nos. 2316, 2317/KOL/2019, ITA No. 2385/KOL/2019, ITA Nos. 2448, 2449/KOL/2019 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Manish Borad, Accountant Member I.T.A. No. 261/KOL/2020 Assessment Year: 2013-2014 Tarasafe International Private Limited,......................Appellant C/o. Dutta Properties, Budge Budge Trunk Road, Gobindpur, Kolkata-700141 [PAN:AADCT0645E] -Vs.- Deputy Commissioner of Income Ta…

Shri. Sunil Kumar Jalan, Bangalore vs. Income Tax Officer, Ward- 6(3)(1), Bangalore

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

ITA 337/BANG/2020[2014-15]Status: DisposedITAT Bangalore28 Feb 2023AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.Shri Sunil Kumar Jalan Vs The Income Tax Officer - 6(3)(1) No.703, 7Th Floor, Ebony Bmtc Building, 80Ft Road A Wing, Godrej Woods Apts 6Th Block, Koramangla Near Hebbal Flyover Bengaluru 560095 Bangalore 560024 Pan – Acdpj0966D (Appellant) (Respondent) Assessee By: Shri P.K. Prasad, Advocate Revenue By: Dr. Sankar Ganesh K., Addl. Cit-Dr Date Of Hearing: 23.02.2023 Date Of Pronouncement: 28.02.2023 O R D E R Per: George George K., J.M. This Appeal At The Instance Of The Assessee Is Directed Against The Cit(A)’S Order Dated 25.11.2019. The Relevant Assessment Year Is 2014-15. 2. The Brief Facts Of The Case Are As Follows: - The Assessee Is An Individual Engaged In Granite Business. For The Assessment Year (Ay) 2014-15 Return Of Income Was Filed On 28.11.2014 Declaring Total Income Of Rs.13,52,370/- Consisting Of Income From House Property, Capital Gains & Business Income. The Assessment Was Selected For Scrutiny & Notice Under Section 143(2) Of The Income Tax Act, 1961 (The Act) Was Issued On 18.09.2015. The Assessee’S Ar Attended Hearing On 30.12.2016 & 2 Shri Sunil Kumar Jalan Produced The Books Of Accounts & Other Details. The Assessing Officer (Ao) Concluded The Assessment Under Section 143(3) Of The Act Vide Order Dated 30.12.2016 Making The Following Addition: -

For Appellant: Shri P.K. Prasad, AdvocateFor Respondent: Dr. Sankar Ganesh K., Addl. CIT-DR
Section 10(38)Section 143(2)Section 143(3)Section 144

…rinciple of natural justice thereby rendering the assessment order bad in law and same needs to be quashed. 13. The learned D.R., on the other hand, relied on the judgement of the Hon'ble High Court of Calcutta in the case of PCIT vs. Swati Bajaj reported in 446 ITR 56 (Kolkata) and contended that the assessee had received abnormal increase in share price which is against the fundamentals and the financial of NCL Research and Financial Ltd. Therefore, it was submitted that the entire capital gains claimed should be disbelieved and addition under Section 68 of the Act ought to be sustained. 11 Shri Sunil Kumar J…

Principal Commissioner of Income Tax 5 Kolkata vs. M/S Neelesh Choudhury HUF

ITAT/255/2022HC Calcutta23 Feb 2023

Bench: It. In All The Cases, Similar Issues Were Involved. On Appeal To This Court, This Court Refused To Condone The Delay Of More Than 1000 Days In Each Appeal. By Identical Orders The Appeals Were Dismissed. We Set Out One Of Such Orders In Itat/275/2022, Ia No:Ga/1/2022, Ga/2/2022 [Principal Commissioner Of Income Tax-13, Kolkata Vs. Manish Jain (Huf)] Passed On 30Th January, 2023 :- “This Appeal By The Revenue Have Been Filed Beyond The Period Of Limitation.

…OD-2 ITAT/255/2022 IA NO. GA/1/2022 GA/2/2022 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOME TAX 5 KOLKATA -VS- M/S. NEELESH CHOUDHURY HUF BEFORE: The Hon'ble JUSTICE I. P. MUKERJI The Hon'ble JUSTICE BISWAROOP CHOWDHURY Date : 23rd February, 2023. Appearance: Mr. Soumen Bhattacharya, Adv. Mr. Abhrotosh Majumdar, Sr. Adv. Mr. Pranit Bag, Adv. Ms. Anuradha Poddar, Adv. The Court : This appeal (ITAT/255/2022) and the connected applications (IA NO.GA/1/2022 and GA/2/2022) have been specially assigned to this court. On 14th June, 2022, a…

Manish Parasrampuria, Kolkata vs. A.O., NFAC / D.C.I.T., Circle-43, Kolkata

In the result, appeal of the assessee is partly allowed

ITA 654/KOL/2022[2015-2016]Status: DisposedITAT Kolkata23 Feb 2023AY 2015-2016

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16

For Appellant: Shri Siddarth Agarwal, AdvocateFor Respondent: Smt. Ranu Biswas, Addl. CIT, DR
Section 10(38)Section 111ASection 142(1)Section 143(3)Section 144BSection 147Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2015-16 Manish Parasrampuria A.O. NFAC/DCIT, Circle-43, C/o, Bhandari B. C. & Co. Kolkata. 1/1A, BiplabiAnukul Chandra Vs. Street, Princep Street, Kolkata-700072. (PAN: AFXPP4472M) (Appellant) (Respondent) Present for: Appellant by : Shri Siddarth Agarwal, Advocate Respondent by : Smt. Ranu Biswas, Addl. CIT, DR Date of Hearing : 10.01.2023 Date of Pronouncement : 23.02.2023 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the assessee i…

Smt. Meena Agrawal, Bharatpur vs. ITO WD-1, Bhartapur

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 447/JPR/2022[2012-13]Status: DisposedITAT Jaipur20 Feb 2023AY 2012-13

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Rajendra Agrawal, CAFor Respondent: Mrs. MonishaChoudhary, Addl. CIT-DR
Section 10(38)Section 148(2)

…rmed.We pray to your honor to please consider the above submissions and please allow the appeal.’’ 2.3 On the other hand, the ld. DR supported the order of the ld.CIT(A) and simultaneously relied upon the following decisions. (1) Pr.CIT vs Swati Bajaj [2022] 139 Taxmann.com 352 (Calcutta) (2) Jawari Lal Lunia vs Union of India [2022] 139 Taxmann.com 406 (Raj.) 2.4 We have heard both the parties and perused the materials available on recording including the case laws cited by both the parties. Brief facts of the case are that the assessee had purchased 50 shares of M/s. RanisatiCommotrade Pvt. Ltd. for a consider…

Principal Commissioner of Income Tax 5, Kolkata vs. Smt Uma Parasramka

ITAT/189/2022HC Calcutta06 Feb 2023

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 6Th February, 2023 Appearance : Mr. Tilak Mitra, Adv. …For The Appellant. Mr. Avratosh Majumdar, Sr. Adv. Mr. Somya Kejriwal, Adv. Mr. Indranil Banerjee, Adv. …For The Respondent. The Court : We Have Heard Mr. Tilak Mitra, Learned Standing Counsel For The Appellant/Revenue & Mr. Avtatosh Majumdar, Learned Senior Counsel Assisted By Mr. Soumya Kejriwal & Mr. Indranil Banerjee, Learned Advocates For The Respondent/Assessee & Perused The Affidavit Filed In Support Of The Application For Condonation Of Delay As Well As The

…O-9 ITAT/189/2022 IA No.GA/1/2022 GA/2/2022 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA -Versus- SMT. UMA PARASRAMKA BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE HIRANMAY BHATTACHARYYA Date : 6th February, 2023 Appearance : Mr. Tilak Mitra, Adv. …for the appellant. Mr. Avratosh Majumdar, Sr. Adv. Mr. Somya Kejriwal, Adv. Mr. Indranil Banerjee, Adv. …for the respondent. The Court : We have heard Mr. Tilak Mitra, learned standing counsel for the appellant/revenue and Mr.…

Shri Yogesh P.Thakkar, Mumbai vs. The DCIT CC-3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1612/MUM/2021[2015-16]Status: DisposedITAT Mumbai03 Feb 2023AY 2015-16
Section 10(38)Section 143(3)Section 153Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘H‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & Shri Yogesh P. Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan Bawan Bunglow Maharshi Karve Road Panvel, Raigad-410 206 Mumbai – 400 020 PAN/GIR No.AAPPT1825P (Appellant) .. (Respondent) & Shri Harsha Nitin Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan Bawan Bunglow Maharshi Karve Road Panvel, Raigad-410 206 Mumbai – 400 020 PAN/GIR No.AAHPT2178D (Appellant) .. (Respondent) Nisha Yogesh Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan…

Dineshchandra D. Chhajed, Mumbai vs. DCIT CC3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1611/MUM/2021[2015-16]Status: DisposedITAT Mumbai03 Feb 2023AY 2015-16
Section 10(38)Section 143(3)Section 153Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘H‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & Shri Yogesh P. Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan Bawan Bunglow Maharshi Karve Road Panvel, Raigad-410 206 Mumbai – 400 020 PAN/GIR No.AAPPT1825P (Appellant) .. (Respondent) & Shri Harsha Nitin Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan Bawan Bunglow Maharshi Karve Road Panvel, Raigad-410 206 Mumbai – 400 020 PAN/GIR No.AAHPT2178D (Appellant) .. (Respondent) Nisha Yogesh Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan…

Shri Nitin Popatlal Thakkar, Mumbai vs. The Dy.Citi Cent. Cir -3(4), Mumbai

In the result , the appeal of the assessee Shri Dineshchandra D

ITA 1610/MUM/2021[2013-14]Status: DisposedITAT Mumbai03 Feb 2023AY 2013-14
Section 10(38)Section 143(3)Section 153Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘H‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & Shri Yogesh P. Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan Bawan Bunglow Maharshi Karve Road Panvel, Raigad-410 206 Mumbai – 400 020 PAN/GIR No.AAPPT1825P (Appellant) .. (Respondent) & Shri Harsha Nitin Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan Bawan Bunglow Maharshi Karve Road Panvel, Raigad-410 206 Mumbai – 400 020 PAN/GIR No.AAHPT2178D (Appellant) .. (Respondent) Nisha Yogesh Thakkar Vs. The DCIT, CC-3(4) 31, Adarsh CHS Aaykar Bhavan…