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 366,005 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

Principal Commissioner of Income Tax 5, Kolkata vs. Ashok Kumar Redh HUF

The appeal is allowed and the

ITAT/100/2022HC Calcutta05 Aug 2022

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : August 05, 2022. Appearance :- Mr. Tilak Mitra, Adv. ….For Appellant.

Section 260A

…OD-4 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE ITAT/100/2022 IA NO: GA/1/2022 ; GA/2/2022 PRINCIPAL COMMISSIONER OF INCOME TAX - 5, KOLKATA VS. ASHOK KUMAR REDH (HUF) BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE HIRANMAY BHATTACHARYYA Date : AUGUST 05, 2022. Appearance :- Mr. Tilak Mitra, Adv. ….for appellant. The Court :- We have heard Mr. Tilak Mitra, learned standing Counsel appearing for the appellant/revenue. Notice has been served on the respondent/assessee and the learned Standing Counsel ha…

Principal Commissioner of Income Tax 5 Kolkata vs. Nand Kishore Agarwala

The appeal is allowed and the substantial questions of law are

ITAT/86/2021HC Calcutta07 Jul 2022

Bench: : The Hon’Ble Justice T.S. Sivagnanam

Section 10(38)Section 143(3)Section 260ASection 68

…O-49 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE ITAT/86/2021 IA No.GA/2/2021 PRINCIPAL COMMISSIONER OF INCOME TAX – 5, KOLKATA Vs NAND KISHORE AGARWALA BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE BIVAS PATTANAYAK Date : 7th July, 2022 Appearance : Mr. Soumen Bhattacharya, 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 28th June, 2019 passed by the Income Tax Appellate Tribunal…

Vivek Suresh Agrawal-HUF, Ahmedbad vs. The ITO, Ward-3(3)(15), Ahmedabad

In the result, appeal of the assessee is dismissed

ITA 70/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad24 Jun 2022AY 2015-16
For Appellant: NoneFor Respondent: Shri Sudhendu Das, Sr. D.R
Section 10(38)

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member Assessment Year 2015-16 Vivek Suresh Agrawal- ITO, HUF, 21, Vivek Vila, Ward-3(3)(15), Sarthi-III, Nr. Goyal Vs Ahmedabad Intercity, Drive-in-Road, (Respondent) Thaltej, Ahmedabad-380052 PAN: AAFHV1039M (Appellant) Assessee by: None Revenue by: Shri Sudhendu Das, Sr. D.R. Date of hearing : 18-05-2022 Date of pronouncement : 24-06-2022 आदेश/ORDER PER : SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER:- This is an appeal filed by the assessee against the order of the ld.…