Principal Commissioner of Income-tax v. Nand Kishore Agarwala

143 Taxmann.com 402High Court2022#10167 most cited

What is Principal Commissioner of Income-tax v. Nand Kishore Agarwala authority for?

Denial of exemption for bogus long-term capital gains from penny stocks is justified, as such gains can be treated as unexplained cash under section 68 or unexplained expenditure under section 69C.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2023 to 2025.

Also referred to as

Principal Commissioner of Income-tax v. Nand Kishore Agarwala · 143 Taxmann.com 402 · section 10(38) · section 68 · section 69C · bogus LTCG · penny stock · price rigging · paper company · accommodation entry

Sections most often in play

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

Issues it is cited on

price riggingbogus ltcgbogus long term capital gainpenny stocksection 10(38)paper companyentry operatorlong term capital gainslong term capital gainaccommodation entryunexplained expenditureshort term capital gain

Judgments citing Principal Commissioner of Income-tax v. Nand Kishore Agarwala

Assistant Commissioner of Income Tax, Nungambakkam vs. Pawan Cargo Forwards Pvt Ltd, Chennai

In the result, appeal filed by the revenue is dismissed in terms above and cross objection filed by the assessee become infructuous in terms of our above order

ITA 3116/CHNY/2024[2013-14]Status: DisposedITAT Chennai08 Sept 2025AY 2013-14

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri S. R. Raghunathaआयकरअपील सं./ Ita No.3116/Chny/2024 (िनधा&रणवष& / Assessment Year: 2013-14) The Asst. Commissioner Of Income Pawan Cargo Forwards Pvt. Ltd., Tax, Vs. 518, Mkn Road, Pawan Imperia, Circle-1(Ltu) Alandur Mkn Road, Chennai. Chennai – 600 016. [Pan: Aaccp 2477P] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: 26.06.2025
Section 148Section 148ASection 151

…आयकर अपीलीय अिधकरण’ ‘बी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI माननीय "ी मनु कुमार िग"र, "ाियक सद" एवं माननीय "ी एस. आर. रघुनाथा, लेखा सद" के सम%। BEFORE HON’BLE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND HON’BLE SHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER आयकरअपील सं./ ITA No.3116/Chny/2024 (िनधा&रणवष& / Assessment Year: 2013-14) The Asst. Commissioner of Income Pawan Cargo Forwards Pvt. Ltd., Tax, Vs. 518, MKN Road, Pawan Imperia, Circle-1(LTU) Alandur MKN Road, Chennai. Chennai – 600 016. [PAN: AACCP 2477P] (अपीलाथ"/Appellant) (""यथ"/Respondent) C.O No.3/Chny/2025 (Arises in ITA…

Ashok Panwar HUF, Jodhpur vs. ACIT, Central Circle-3, Jodhpur

In the result, both the appeals of the assesses ITA No

ITA 56/JODH/2024[2014-15]Status: DisposedITAT Jodhpur22 Aug 2025AY 2014-15

Bench: Dr. Mitha Lal Meena, Hon'Ble & Shri Anikesh Banerjee, Hon'Ble

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

…1 ITA No 56/Jodh/2025Ashok Panwar, HUF ITA No.315/Jodh/2023Ashok Panwar IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR BEFORE DR. MITHA LAL MEENA, HON'BLE ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, HON'BLE JUDICIAL MEMBER I.T.A No.56/Jodh/2024 (Assessment Year: 2014-15) Ashok Panwar, HUF 29, Mudit Mansion, Opp. Shastrinagar Police Station, Pal Road, Jodhpur-342 003 PAN: AAFHA8117H APPELLANT VS Asst. Commissioner of Income-tax Central Circle-3, Jodhpur, Rajasthan RESPONDENT I.T.A No.315/Jodh/2023 (Assessment Year: 2015-16) Ashok Panwar 29, Mudit Mansion, Opp. Shastrinagar Police Station, Pal Road, J…

Heaven Mahendra Shah, Vile Parle (West) vs. Asst. CIT - 33(1), Mumbai, Bandra (East)

In the result, the appeal of the assessee bearing ITA No

ITA 6361/MUM/2024[2015-16]Status: DisposedITAT Mumbai21 Jul 2025AY 2015-16

Bench: Shri Anikesh Banerjee & Smt.Renu Jauhriheaven Mahendra Shah Vs Asst. Cit-33(1), Mumbai C-12, 7Th Floor, Pratyaksha Kar 501/502, Cosmos, N.M. Road, Vile Parle (West), Mumbai-400 Bhavan, Bkc, Bandra (East), 056 Mumbai-400 051 Pan: Aagps3148F Appellant Respondent

For Appellant: Shri Ashok Bansal, CA a/w Shri Ajay Daga, CAFor Respondent: Shri Hemanshu Joshi - SR DR
Section 10Section 10(38)Section 139(1)Section 143(2)Section 143(3)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SMT.RENU JAUHRI, ACCOUNTANT MEMBER Heaven Mahendra Shah vs Asst. CIT-33(1), Mumbai C-12, 7th Floor, Pratyaksha Kar 501/502, Cosmos, N.M. Road, Vile Parle (West), Mumbai-400 Bhavan, BKC, Bandra (East), 056 Mumbai-400 051 PAN: AAGPS3148F APPELLANT RESPONDENT Assessee by : Shri Ashok Bansal, CA a/w Shri Ajay Daga, CA Respondent by : Shri Hemanshu Joshi - SR DR Date of hearing : 09/07/2025 Date of pronouncement : 21/07/2025 ORDER Per: Anikesh Banerjee (JM) The instant appeal of the assessee was filed a…

Rachna Goyal, Jodhpur vs. ITO, Ward-1(2), Jodhpur

In the result, the appeal is dismissed

ITA 529/JODH/2023[2013-14]Status: DisposedITAT Jodhpur25 Jun 2025AY 2013-14
Section 132Section 133ASection 142(1)Section 147Section 148Section 151Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR. BEFORE: DR. MITHA LAL MEENA, ACCOUNTANT MEMBER & DR. S. SEETHALAKSHMI, JUDICIAL MEMBER Ι.Τ.Α. No. 529/Jodh/2023 Assessment Year: 2013-14 Rachna Goyal J-2-C, Subhash Colony, Palace Road, Ratnada, Jodhpur. PAN. No. AJNPG2188H Appellant Income Tax Officer, Vs. Ward 1(2), Jodhpur. Respondent Appellant by Sh. T.C. Gupta, Advocate Respondent by Sh. Karni Dan, Addl.CIT (Sr.DR Date of Hearing 07/05/2025 Date of Pronouncement 25/06/2025 PER: DR. S. SEETHALAKSHMI, J.М. This is an appeal filed by the assessee against the order of ld. CIT (A), National Faceless Ap…

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…

Chintan Shailesh Shah, Mumbai vs. ITO Ward-30(1)(2), Now ITO Ward-41(3)(1), Mumbai

In the result, the appeal filed by the assessee stands dismissed with no order as to cost

ITA 2469/MUM/2024[2014-15]Status: DisposedITAT Mumbai17 Feb 2025AY 2014-15

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankarchintan Shailesh Shah Vs. Ito, Ward 30(1)(2) Rushikesh, Shanti Nagar, (Now Ward 41(3)(1)) Adarsh Dugdhalaya Kautilya Bhavan, Bkc, Malad (W), Mumbai – Bandra (E), Mumbai – 400064. 400051. Pan/Gir No. Amzps2768Q (Applicant) (Respondent)

Section 10(38)Section 133(6)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE HON’BLE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Chintan Shailesh Shah Vs. ITO, Ward 30(1)(2) Rushikesh, Shanti Nagar, (Now Ward 41(3)(1)) Adarsh Dugdhalaya Kautilya Bhavan, BKC, Malad (W), Mumbai – Bandra (E), Mumbai – 400064. 400051. PAN/GIR No. AMZPS2768Q (Applicant) (Respondent) Assessee by None Revenue by Shri Mahesh Pamnani, Sr. DR Date of Hearing 17.02.2025 Date of Pronouncement 17.02.2025 आदेश / ORDER PER SANDEEP GOSAIN, JM: The present appeal has been filed by the assessee challenging the impugned orde…

Sanjay Kumar Jindal HUF, Ajmer vs. Assessing Authority, Delhi

In the result, the appeal of the assessee is allowed for statistical purposes with no orders as to costs

ITA 609/JPR/2023[2013-14]Status: DisposedITAT Jaipur07 Aug 2024AY 2013-14

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri Harshit Agarwal, CAFor Respondent: Mrs. Monisha Choudhary, Addl. CIT-DR
Section 10(38)Section 69A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”SMC’’ JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ds le{k BEFORE: Hon’ble SHRI SANDEEP GOSAIN, JUDICIAL MEMBER vk;dj vihy la-@ITA No. 609/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2013-14 cuke Sanjay Kumar Jindal, HUF The ITO Vs. Thru: Sanjay Kumar Jindal, Karta Ward 2 104,Ganpati Sadan, Sadar Bazar, Ajmer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAMHS 4442J vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Shri Harshit Agarwal, CA jktLo dh vksj ls@Revenue by: Mrs. Monisha Choudhary, Addl.…

Smt. Sneha Ankit Salecha, Mumbai vs. Income Tax Office, Ward, 19(3)(4), Mumbai

In the result, appeal of the assessee is allowed

ITA 255/MUM/2024[2014-15]Status: DisposedITAT Mumbai27 Jun 2024AY 2014-15

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

For Appellant: Shri Jalaj Prakash, AdvocateFor Respondent: Shri Mahesh Parwani, Sr. DR
Section 10(38)Section 131Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE MS PADMAVATHY S, AM & SHRI RAJ KUMAR CHAUHAN, JM I.T.A. No. 255/Mum/2024 (Assessment Year: 2014-15) Smt. Sneha Ankit Selecha, ITO, Ward-19(3)(4) 1303,, Vastu Shilp, Gamadia Piramal Chambers, Vs. Colony, Grant Road, S.O. 400007. Mumbai-400012. PAN : AMEPJ4070D Appellant) : Respondent) Appellant/Assessee by : Shri Jalaj Prakash, Advocate Revenue/Respondent by : Shri Mahesh Parwani, Sr. DR Date of Hearing : 13.06.2024 : 27.06.2024 Date of Pronouncement O R D E R Per Padmavathy S, AM: This appeal is against the order of assessment passed by the Commission…

Udayan Grover, Mumbai vs. National Faceless Appeal Centre(NFAC), Delhi

In the result, appeal filed by the assessee is allowed

ITA 2880/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Feb 2024AY 2015-16

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleudayan Grover V. National Faceless Appeal Centre Panch Mahal Delhi Panch Sristhi Complex {Acit – 26(3), Bkc, Mumbai} Powai, Mumbai - 400072 Pan: Aclpg0572G (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punmiya Department Represented By : Ms. Kavitha Kaushik

Section 10(38)Section 131Section 133(6)Section 142(1)Section 143(2)Section 57Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI BEFORE SHRI ABY T VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Udayan Grover v. National Faceless Appeal Centre Panch Mahal Delhi Panch Sristhi Complex {ACIT – 26(3), BKC, Mumbai} Powai, Mumbai - 400072 PAN: ACLPG0572G (Appellant) (Respondent) Assessee Represented by : Shri Vimal Punmiya Department Represented by : Ms. Kavitha Kaushik Date of conclusion of Hearing : 23.01.2024 Date of Pronouncement : 07.02.2024 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the assessee against order of Learned…

Sangeeta Devi Jhunjhunwala, New Delhi vs. ITO, Ward-70(1), New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 747/DEL/2022[2015-16]Status: DisposedITAT Delhi18 May 2023AY 2015-16

Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2015-16

For Appellant: Shri Rajiv SaxenaFor Respondent: Shri Amit Shukla, Sr. DR
Section 10(38)Section 131Section 142(1)Section 143(1)Section 69C

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”: NEW DELHI BEFORE DR. BRR KUMAR, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Asstt. Year: 2015-16 Sangeeta Devi Jhunjhunwala, Vs. ITO, Ward-70(1) IPSO Legal H-35, 1st Floor, New Delhi. Jangpura Extension, New Delhi – 110 014 PAN AAAPJ3918J (Appellant) (Respondent) Assessee by: Shri Rajiv Saxena, Ms. Sumangla Saxena, Shri Shayam Sunder, Shri Dishant Seth, Advocates Department by : Shri Amit Shukla, Sr. DR Date of Hearing: 05.04.2023 Date of 18.05.2023 pronouncement: O R D E R PER ASTHA CHANDRA, JM The appeal filed by the assessee is directed against…

Principal Commissioner of Income-tax v. Nand Kishore Agarwala (143 Taxmann.com 402) — Cited in 10 Judgments | BharatTax