Pr.CIT v. Champalal Gopiram Agarwal

460 ITR 277High Court2024#17957 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2025 to 2026.

Sections most often in play

Section 10(38)Section 142(1)Section 143(1)Section 143(2)Section 144Section 147Section 68Section 69A

Issues it is cited on

section 4(1)section 147(a)colourable devicesection 292bbborrowed satisfactionsection 292btangible materialsection 292change of opinionshare application moneysection 29accommodation entry

Judgments citing Pr.CIT v. Champalal Gopiram Agarwal

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

…d AO had no evidence to show that there was an agreement between assessee and any other party to convert unaccounted money by taking fictitious loss, impugned addition made on account of bogus loss was to be deleted. Pr.CIT v. Champalal Gopiram Agarwal (2024) 460 ITR 277 (Guj.) 7) Where Assessing Officer disallowed exemption under section 10(38) on long-term capital gains earned by assessee on sale of shares and treated same as bogus, since Assessing Officer did not show any material to back its conclusion of treating LTCG as bogus and, further, shares were traded on stock exchange after paying securities transa…

Excellence Finance Pvt Ltd, Mumbai vs. DCIT Central Circle 6(4), Mumbai

In the result, all the aforesaid appeals of the assessee are

ITA 208/MUM/2025[2016-17]Status: DisposedITAT Mumbai28 Oct 2025AY 2016-17

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Snehal Shah, ARFor Respondent: Shri Himanshu Joshi, (Sr. DR)
Section 143(2)Section 147Section 148Section 68

…e reliance on hon'ble Gujrat High Court in the case of Banyan & Berry Vs CIT (1996) (222 ITR 831) (Gujarat),Sandip Kumar Parsottambhai Patel Vs ITO (2022) (137 taxmann.com 373) (Surat-Trib.),Champalal Gopiram Agarwal [2023] 155 taxmann.com 66 (Gujarat)/[2024] 460 ITR 277 (Gujarat)[25-07- 2023]. In the case of Gokul Fuelchen Pvt Ltd., ITA No. 187/Mum/2024 dated 29.07.2024, it was held that trading loss on account of derivatives currency transaction on the recognized stock exchange could not be denied on in the absence of any specific findings by the AO. In the case of Abans Commodities(I) Pvt. Ltd. Mumbai ITAT, in…

Excellence Finance Pvt Ltd, Mumbai vs. DCIT, Central Circle 6(4), Mumbai

In the result, all the aforesaid appeals of the assessee are

ITA 207/MUM/2025[2015-16]Status: DisposedITAT Mumbai28 Oct 2025AY 2015-16

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Snehal Shah, ARFor Respondent: Shri Himanshu Joshi, (Sr. DR)
Section 143(2)Section 147Section 148Section 68

…e reliance on hon'ble Gujrat High Court in the case of Banyan & Berry Vs CIT (1996) (222 ITR 831) (Gujarat),Sandip Kumar Parsottambhai Patel Vs ITO (2022) (137 taxmann.com 373) (Surat-Trib.),Champalal Gopiram Agarwal [2023] 155 taxmann.com 66 (Gujarat)/[2024] 460 ITR 277 (Gujarat)[25-07- 2023]. In the case of Gokul Fuelchen Pvt Ltd., ITA No. 187/Mum/2024 dated 29.07.2024, it was held that trading loss on account of derivatives currency transaction on the recognized stock exchange could not be denied on in the absence of any specific findings by the AO. In the case of Abans Commodities(I) Pvt. Ltd. Mumbai ITAT, in…

Excellence Finance Pvt Ltd, Mumbai vs. DCIT, Central Circle 6(4), Mumbai

In the result, all the aforesaid appeals of the assessee are

ITA 206/MUM/2025[2014-15]Status: DisposedITAT Mumbai28 Oct 2025AY 2014-15

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Snehal Shah, ARFor Respondent: Shri Himanshu Joshi, (Sr. DR)
Section 143(2)Section 147Section 148Section 68

…e reliance on hon'ble Gujrat High Court in the case of Banyan & Berry Vs CIT (1996) (222 ITR 831) (Gujarat),Sandip Kumar Parsottambhai Patel Vs ITO (2022) (137 taxmann.com 373) (Surat-Trib.),Champalal Gopiram Agarwal [2023] 155 taxmann.com 66 (Gujarat)/[2024] 460 ITR 277 (Gujarat)[25-07- 2023]. In the case of Gokul Fuelchen Pvt Ltd., ITA No. 187/Mum/2024 dated 29.07.2024, it was held that trading loss on account of derivatives currency transaction on the recognized stock exchange could not be denied on in the absence of any specific findings by the AO. In the case of Abans Commodities(I) Pvt. Ltd. Mumbai ITAT, in…

Assistant Commissioner of Income Tax, 4(1)(1), Mumbai vs. Haresh Shantichand Jhaveri, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 1971/MUM/2025[2015-16]Status: DisposedITAT Mumbai12 Aug 2025AY 2015-16

Bench: Shri Saktijit Dey & Shri Prabhash Shankarassistant Commissioner Of V/S. Haresh Shantichand Income Tax, Ward – 4(1)(1), बनाम Jhaveri, Room No. 642, Aaykar Bhavan, Ps 6-7 Rotunda Bldg, M.K. Road, Churchgate, Samachar Marg, Mumbai – Mumbai–400 020, Maharashtra 400 023, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabpj8053B Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Nitin Shantilal Doshi, ARFor Respondent: Shri Hemanshu Joshi (Sr. DR)
Section 147

…reliance on hon'ble Gujrat High Court in the case of Banyan & Berry Vs CIT (1996) (222 ITR 831) (Gujarat), Sandipkumar Parsottam bhai Patel Vs ITO (2022) (137 taxmann.com 373) (Surat-Trib.), Champalal Gopiram Agarwal [2023] 155 taxmann.com 66 (Gujarat)/[2024] 460 ITR 277 (Gujarat)[25-07- 2023]. In the case of Gokul Fuelchen Pvt Ltd., ITA No. P a g e | 12 A.Y. 2015-16 Haresh Shantichand Jhaveri 187/Mum/2024 dated 29.07.2024 has held that trading loss on account of derivatives currency transaction on the recognized stock exchange could not be denied on in the absence of any specific findings by the AO. In the cas…

Pr.CIT v. Champalal Gopiram Agarwal (460 ITR 277) — Cited in 5 Judgments | BharatTax