How many judgments cite PCIT v. Swati Bajaj?

443 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 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 68 Section 147 Section 143(3)Section 148 Section 10(38)Section 69C Section 142(1)Section 143(2)

Read the full judgment

Issues it is cited on

price rigging section 142(3)bogus ltcg bogus long term capital gain penny stock section 142(2)onus of proof preponderance of probability section 10(38)paper company entry operator circular trading

Judgments citing PCIT v. Swati Bajaj

Disha Resources Ltd. (Formerly Known As Arihant Avenues and Credit Limited.), Ahmedabad vs. The ACIT, Central Circle-2(1), Ahmedabad

In the result, the appeal of the assessee is dismissed

ITA 534/AHD/2025[2013-14]Status: DisposedITAT Ahmedabad09 Jul 2025AY 2013-14

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

For Appellant: Shri Pritesh Shah, ARFor Respondent: Shri Suresh Chand Meena, Sr. DR

Section 131Section 142(1)Section 143(2)Section 147Section 148Section 35(1)(ii)Section 35(1)(iii)

…e High Court of Calcutta in the case Swati Bajaj, Dinesh Kumar Bansal (HUF), Suraj Sahana, Tapati Sahana, Souvik Sahana, Mukta Agarwal, Babita Agarwal, Neetu Agarwal, Nand Kishore Agarwala, Rajesh Jhunjhunwala vs. Principal Commissioner of Income Tax, [(2022) 446 ITR 56 (Calcutta)] dated 14.06.2022 on the issue of cross examination has observed as under: -Reliance was placed on the decision of the Hon'ble Division Bench of this Court in Kishanlal Agarwalla Versus Collector of Land customs. This decision was pressed into service that as long as the party charged has a fall and reasonable opportunity to see, commen…

Pramod Lakra, Deputy Commissioner of Income Tax, Circle 11(1), Kolkata vs. M/S. Amicus Healthcare Services & Solutions Pvt. Ltd., Kolkata

Appeal of the revenue is dismissed

ITA 2572/KOL/2024[2013-14]Status: DisposedITAT Kolkata09 Jul 2025AY 2013-14

Bench: SHRI GEORGE MATHAN, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 143(2)Section 148Section 148ASection 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH”, KOLKATA SHRI GEORGE MATHAN, JUDICIAL MEMBER SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A. No. 2572/KOL/2024 (Assessment Year 2013-14) Pramod Lakra, Deputy Commissioner of Income Tax, Circle 11(1), Kolkata Aayakar Bhawan, 6th Floor, P-7, Chowringhee Square, Kolkata – 700069 ……..…...…………….... Appellant vs. M/s Amicus Healthcare Services & Solutions Pvt. Ltd., 41, Ballygunge Terrace, Golpark, Kolkata – 700029 [PAN: AAGCA7409N] ................................. Respondent Appearances by: Assessee represented by : None Department represented by : Pankaj Pandey, Add…

Principal Commissioner of Income Tax 2 Kolkata vs. M/S Purple Suppliers Pvt Ltd

The appeals are dismissed and the substantial

ITAT/86/2025HC Calcutta04 Jul 2025

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

Section 143(3)Section 147Section 260A

…1 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION [INICOME TAX] ORIGINAL SIDE CORAM: THE HON’BLE THE CHIEF JUSTICE T.S. SIVAGNANAM AND THE HON’BLE MR. JUSTICE CHAITALI CHATTERJEE (DAS) ITAT/84/2025 IA NO: GA/2/2025 PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA VS M/S PURPLE SUPPLIERS PVT LTD ITAT/85/2025 IA NO: GA/2/2025 PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA VS M/S PURPLE SUPPLIERS PVT LTD ITAT/86/2025 IA NO: GA/2/2025 PRINCIPAL COMMISSIONER OF INCOME TAX 2 KOLKATA VS M/S PURPLE SUPPLIERS PVT LTD HEARD ON : 04.07.2025 DELIVERED ON :…

Principal Commissioner of Income Tax 2 Kolkata vs. M/S Purple Suppliers Pvt Ltd

The appeals are dismissed and the substantial

ITAT/84/2025HC Calcutta04 Jul 2025

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

Section 143(3)Section 147Section 260A

Principal Commissioner of Income Tax 2 Kolkata vs. Magestic Vyapaar Pvt Ltd

Accordingly, the appeal fails and is dismissed

ITAT/53/2025HC Calcutta01 Jul 2025

Bench: : The Hon’Ble The Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Chaitali Chatterjee (Das) Dated : 1St July, 2025 Appearance: Mr. Vipul Kundalia, Sr. Adv. Mr. Prithu Dudhoria, Adv. ..For Appellant Mr. Saurabh Bagaria, Adv. Mr. Rites Goel, Adv. Ms. Samrita Das, Adv. ..For Respondent

Section 133(6)Section 143Section 260ASection 68

…OD-15 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION [INCOME TAX] ORIGINAL SIDE ITAT /53/2025 GA/2/2025 PRINCIPAL COMMISSIONER OF INCOME TAX-2, KOLKATA VS. MAGESTIC VYAPAAR PVT. LTD. BEFORE : THE HON’BLE THE CHIEF JUSTICE T.S. SIVAGNANAM AND THE HON’BLE JUSTICE CHAITALI CHATTERJEE (DAS) Dated : 1st July, 2025 Appearance: Mr. Vipul Kundalia, Sr. Adv. Mr. Prithu Dudhoria, Adv. ..for Appellant Mr. Saurabh Bagaria, Adv. Mr. Rites Goel, Adv. Ms. Samrita Das, Adv. ..for Respondent THE COURT: This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (…

Income Tax Officer, Kolkata vs. Sonu Marketing Private Limited, Kolkata

In the result, appeal of the revenue is dismissed

ITA 923/KOL/2025[2016-17]Status: DisposedITAT Kolkata01 Jul 2025AY 2016-17

Bench: Shri George Mathanito, Ward-5(1), Kolkata Vs M/S Sonu Marketing Pvt. Ltd. 71/3, Kankurgachi, Kolkata-700054 Pan No. :Aadcs 5515 L (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) .. राजस्व की ओर से /Revenue By : Shri S.B.Chakraborthy, Sr. Dr नििााररती की ओर से /Assessee By : Ms. Vidhi Ladia, Ar सुनवाई की तारीख / Date Of Hearing : 01/07/2025 घोषणा की तारीख/Date Of Pronouncement : 01.07.2025 आदेश / O R D E R This Is An Appeal Filed By The Revenue Against The Order Of The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 19.03.2025, Passed In Din & Order No.Itba/Nfac/S/250/2024-25/1074708973(1) For The Assessment Year 2016-2017. 2. Shri S.B.Chakraborthy, Ld.Sr. Dr Appeared On Behalf Of The Revenue & Ms. Vidhi Ladia, Ld. Ar Appeared On Behalf Of The Assessee. 3. In The Revenue'S Appeal The Revenue Has Raised The Following Grounds:- 1. Whether On Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Erred In Deleting The Addition Of Rs. 29.48,304/- On Account Of Non-Genuine Losses. 2. Whether On The Facts & Circumstances Of The Case & In Law, The Cit(A) Erred In Deciding The Case In Favour Of The Assessee By Misinterpreting The Relevant Terms Of The Decisions Hon'Ble Supreme Court In The Cases Of Uoi Vs. Ashish Agarwalla (2022 Scc Online Sc 543) & Uoi Vs. Rajeev Bansal (Dated 03.10.2024) [Civil Appeal No. 8629 Of 2024].

For Appellant: Ms. Vidhi Ladia, ARFor Respondent: Shri S.B.Chakraborthy, Sr. DR

Section 68

…आयकर अपीलीय अधिकरण,“एस.एम.सी” न्यायपीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, KOLKATA श्री जाजज माथन, न्याययक सदस्य के समक्ष । BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER ITO, Ward-5(1), Kolkata Vs M/s Sonu Marketing Pvt. Ltd. 71/3, Kankurgachi, Kolkata-700054 PAN No. :AADCS 5515 L (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) .. राजस्व की ओर से /Revenue by : Shri S.B.Chakraborthy, Sr. DR नििााररती की ओर से /Assessee by : Ms. Vidhi Ladia, AR सुनवाई की तारीख / Date of Hearing : 01/07/2025 घोषणा की तारीख/Date of Pronouncement : 01.07.2025 आदेश / O R D E R This is an appeal filed by the revenu…

Annu Anil Agrawal, Mumbai vs. Assistant Commissioner of Income-Tax, Central Circle 4(4), Mumbai

In the result, the appeal of the assessee is allowed

ITA 5473/MUM/2024[2011-2012]Status: DisposedITAT Mumbai01 Jul 2025AY 2011-2012

Bench: Shri Sandeep Gosain & Shri Prabhash Shankarआयकर अपील सुं./Ita No. 5473/Mum/2024 (नििाारण वर्ा / Assessment Year :2011-12) Annu Anil Agrawal V/S. Acit Cc 4(3), Mumbai Due C-3401/3402 Oberoi बिाम To Restructuring Current Esquire, Mohan Gokhale Jurisdiction Of Appellant Road, Off W. E. Highway, Lies With Acit 41(4)(1), Oberoi Garden City, Mumbai Goregaon East, Mumbai- Kautilya Bhawan, Bkc, 400063 Bandra (E), Mumbai- 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Admpa0248F Appellant/अपीलार्थी Respondent/प्रनिवादी ..

For Appellant: Shri Suchek Anchaliya, Ms. RubyFor Respondent: Shri Aditya Rai

Section 10(38)Section 250Section 68Section 69

…|आयकर अपीलीय न्यायाधिकरण न्यायपीठ, म ुंबई| IN THE INCOME-TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER आयकर अपील सुं./ITA No. 5473/MUM/2024 (नििाारण वर्ा / Assessment Year :2011-12) Annu Anil Agrawal v/s. ACIT CC 4(3), Mumbai due C-3401/3402 Oberoi बिाम to restructuring current Esquire, Mohan Gokhale jurisdiction of appellant Road, Off W. E. Highway, lies with ACIT 41(4)(1), Oberoi Garden City, Mumbai Goregaon East, Mumbai- Kautilya Bhawan, BKC, 400063 Bandra (E), Mumbai- 400051 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: ADMPA0248F Appe…

Balram Chainrai, Mumbai vs. Int Tax Ward 2(1)(1), Mumbai

In the result, the appeal of the revenue bearing ITA No 519/Mum/2025 is dismissed

ITA 1074/MUM/2025[2018-19]Status: DisposedITAT Mumbai30 Jun 2025AY 2018-19

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Shri Ravikant S. Pathak, ARFor Respondent: 24.06.2025

Section 143(3)Section 144BSection 147Section 148Section 148ASection 153Section 234BSection 270ASection 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE MS PADMAVATHY S, AM & SHRI RAJ KUMAR CHAUHAN, JM I.T.A. No. 1074/Mum/2025 (Assessment Year: 2018-19) Balram Chainrai, International Taxation, 304, Marine Chambers, Ward-2(1)(1), Room No. 618C, 6th Floor, Kautilya New Marine Lines, Churchgate, Vs. Mumbai-400020. Bhavan, Bandra, C-41 to C-43, PAN: AFRPC7389E G Block, Bandra Kurla Complex, Mumbai-400051. Appellant) : Respondent) Appellant /Assessee by : Shri Ravikant S. Pathak, AR : Shri Krishna Kumar, Sr. DR Revenue / Respondent by : 24.06.2025 Date of Hearing Date of Pronouncement : 30.06.2025 O R D E R…

Hansa Jitendra Haria, Jamnagar vs. Principal Commissioner of Income Tax, Jamnagar

In the result, the appeal of the assessee is dismissed

ITA 104/RJT/2024[2013-14]Status: DisposedITAT Rajkot20 Jun 2025AY 2013-14

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.104/Rjt/2024 ("नधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Hansa Jitendra Haria Vs. Principal Commissioner Of 2, Oswal Colony, Near Rajendra Income Tax Balkrindagan, Jamnagar, Gujarat Jamnagar 361005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahph4309L (Assessee) (Respondent)

For Appellant: Shri Dhaval Shah, ARFor Respondent: Shri Sanjay Punglia, CIT. DR

Section 10(38)Section 147Section 263Section 69A

…ITA No. 104/RJT/2024/AY.2013-14 Hansa Jitendra Haria vs. PCIT IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA No.104/RJT/2024 ("नधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Hansa Jitendra Haria Vs. Principal Commissioner of 2, Oswal Colony, Near Rajendra Income Tax Balkrindagan, Jamnagar, Gujarat Jamnagar 361005. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAHPH4309L (Assessee) (Respondent) Assessee by : Shri Dhaval Shah, AR Respondent by : Shri Sanjay Punglia, CIT. DR Date of Hearing : 0…

ITO, Ward-5(1), Kolkata vs. M/S. Shivrashi Infraprojects Private Limited, Kolkata

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

ITA 2328/KOL/2024[2012-13]Status: DisposedITAT Kolkata18 Jun 2025AY 2012-13

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 143(3)Section 250Section 68

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA श्री जॉजज माथान, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 2328/KOL/2024 Assessment Year: 2012-13 ITO, Ward-5(1), Kolkata M/s. Shivrashi Infraprojects Vs. Private Limited (Appellant) (Respondent) PAN: AAQCS7270P Appearances: Department represented by : Praveen Kishore, CIT DR. Assessee represented by : None. Date of concluding the hearing : 22-May-2025 Date of pronouncing the order : 18-June-20…

Principal Commissioner of Income Tax 2 Kolkata vs. M/S Alosha Marketing Private Limited

Accordingly, the appeal fails and the same is dismissed

ITAT/296/2024HC Calcutta16 Jun 2025

Bench: : The Hon'Ble The Chief Justice T.S Sivagnanam -A N D- Hon'Ble Justice Chaitali Chatterjee (Das) Date : 16Th June, 2025.

Section 143(3)Section 147Section 148Section 260ASection 68

…to the tune of Rs.29,90,203/-, despite the fact that the identity and creditworthiness of the creditors as well as 2 genuineness of the transactions could not be established by the assessee relying on the judgment in the matter of PCIT vs. Swati Bajaj 446 ITR 56 (Cal) ? c. Whether the learned ITAT has committed substantial error in law in giving the verdict in favour of the assessee where the issue of the accommodation entries is the primary ingredient of this case and the same is covered by clause (h) of Exceptions laid down under para 3.1 of the CBDT Circular No.5/2024 vide F.No.279/Misc-142/2007…

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

…nsactions through stock exchange and the consideration received is through banking channel, therefore, on such evidences no adverse inference can be drawn. 10. The Sr.DR placed strong reliance on the decision in the case of PCIT vs. Swati Bajaj as reported in 446 ITR 56 (Cal). The decision relied by the Ld. DR in the case of Pr. CIT v. Swati Bajaj [446 ITR 56 (Calcutta)] is misplaced for the primary reason that in the case of Swati Bajaj sale/purchase was not from the Demat Accounts. In most of the cases the purchases were through private placements. Whereas, in the case on hand, the trades were made on the stock…

Accrecent Way Marketing (P) Ltd., Guwahati vs. Deputy Commissioner of Income Tax, Circle-3, Guwahati

ITA 358/GTY/2018[2010-11]Status: DisposedITAT Guwahati09 Jun 2025AY 2010-11

Bench: Shri Manomohan Das & Shri Rakesh Mishra

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 251Section 68

…आयकर अपीलीय अधिकरण गुवाहाटी पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL GUWAHATI BENCH AT KOLKATA [वर्ुअल कोटु] [Virtual Court] श्री मनमोहन दास, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI MANOMOHAN DAS, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 358/GTY/2018 Assessment Year: 2010-11 Accrecent Way Marketing Deputy Commissioner of Private Limited Income Tax, Circle-3, Vs. Guwahati (Appellant) (Respondent) PAN: AAFCA8279H Appearances: Assessee represented by : Anil Kumar Agarwala, FCA. Department represented by : Kausik Ray, JCIT. Date of concluding the he…

Sonal Ashish Shah, Pune vs. ITO, Ward 7(1), Pune

In the result, appeal of the assessee is allowed

ITA 2541/PUN/2024[2014-15]Status: DisposedITAT Pune03 Jun 2025AY 2014-15

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2541/Pun/2024 Assessment Year : 2014-15

For Appellant: Shri Sagar TilakFor Respondent: Shri Akhilesh Srivastva

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

…u/s.68 of the Act. 4. Aggrieved with the addition made by ld. AO, assessee preferred appeal before ld.CIT(A) but failed to succeed. Ld.CIT(A) placing reliance on the judgment of Hon'ble Calcutta High Court in the case of CIT Vs. Swati Bajaj and others (2022) 446 ITR 56 and also referring to the list of 84 companies alleged to be penny stock issued by SEBI, confirmed the addition under the head “Income from other sources” as against ‘unexplained cash credit’ made by the Assessing Officer. 5. Now the assessee is in appeal before this Tribunal assailing the impugned order passed by ld.CIT(A). 6. Ld. Counsel for t…

Navansh Vinimay Pvt. Ltd., Kolkata vs. I.T.O., Ward - 8(2), Kolkata

In the result, the appeal of the assessee is dismissed

ITA 724/KOL/2022[2012-2013]Status: DisposedITAT Kolkata30 May 2025AY 2012-2013

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 142(1)Section 143Section 143(2)Section 143(3)Section 147Section 148Section 151Section 250

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA श्री जॉजज माथान, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 724/KOL/2022 Assessment Year: 2012-13 Navansh Vinimay Pvt. Ltd. I.T.O., Ward-8(2), Kolkata Vs. (Appellant) (Respondent) PAN: AACCN9210E Appearances: Assessee represented by : None. Department represented by : Yogesh Mehare, Sr. DR. Date of concluding the hearing : March 5th, 2025 Date of pronouncing the order : May 30th, 2025 ORDER PER…

Vinod Hirachand Sanghvi, Mumbai vs. ACIT, Circle-19(3), Lalbaug, Mumbai

In the result, the grounds of appeal raised by the

ITA 4340/MUM/2023[2013-14]Status: DisposedITAT Mumbai27 May 2025AY 2013-14

Bench: Shri Pawan Singh & Girish Agrawal(Physical Hearing) Vinod Hirachandsanghvi Acit, Circle-19(3), Mumbai 315, Gr. Floor, Gogari Mansion, Vs Piramal Chamber, Lalbaug, 1 Carpenter Street, Charni Road, Parel, Mumbai, Mumbai-400004. Maharashtra-400012. [Pan No. Afmps3101F Appellant / Assessee Respondent / Revenue

Section 10(38)Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 254(1)Section 68Section 69C

…the order of lower authorities. The ld. SR DR submits that assessing officer as well as ld. CIT(A) discussed the issue in length which he fully supports. The ld. SR DR for the Revenue also relied on the decision of Kolkata High Court in Swati Bajaj (2022) 446 ITR 56 (Kol) 288 taxmann 403 (Kol). 7. We have considered the rival submissions of both the parties and have gone through the orders of lower authorities carefully. We find that the assessee in his has shown long term capital gain on sale of certain scrips. The assessee has shown total long term capital gain f Rs.52,43,071/-. The assessee has purchase…

Laxmidhan Tradelink Pvt. Ltd., Kolkata vs. ITO, Ward-2(2), Kolkata

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

ITA 1428/KOL/2023[2011-12]Status: DisposedITAT Kolkata23 May 2025AY 2011-12

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 11Section 147Section 148Section 250Section 68

…आयकर अपीलीय अधिकरण कोलकाता 'एसएमसी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘SMC’ BENCH, KOLKATA श्री संजय शमाा, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI SONJOY SARMA, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 1428/KOL/2023 Assessment Year: 2011 -12 Laxmidhan Tradelink Pvt. Ltd. ITO, Ward-2(2), Kolkata Vs. (Appellant) (Respondent) PAN: AABCL7682F Appearances: Assessee represented by : None. Department represented by : Madhumita Das, Addl. CIT, Sr. DR. Date of concluding the hearing : February 25th, 2025 Date of pronouncing the order : May…

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

Jayesh Sojpar Karnia HUF, Mumbai vs. Income Tax Officer-Ward 30(1)(5), Mumbai

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

ITA 4034/MUM/2023[2014-15]Status: DisposedITAT Mumbai01 May 2025AY 2014-15

Bench: Shri Narender Kumar Choudhryassessment Year: 2014-15

For Appellant: Shri Shashank Mehta, Ld. A.RFor Respondent: Shri Srinivas P., Ld. Sr.D.R

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

…ents, ultimately deleted the identical addition, as involved in this case, by observing and holding as under: 7.2. The ld. CIT(A) in impugned appeal order respectfully relied on the order of Hon'ble Calcutta High Court in the case of CIT Vs Swati Bajaj[2022] 446 ITR 56 (Calcutta) where on same set of facts related taxability of LTCG on sale of shares considered as manipulated penny stock & the action of the ld. AO is confirmed. But the related to scrip "Sunrise Asian Ltd" the assessee is covered by the order of the Hon'ble Gujrat High Court. Accordingly, the 6 Jayesh Sojpar Karnia HUF same would prevail on the…