Sanjay Kaul v. Principal Commissioner of Income Tax, Delhi-8, New Delhi

119 Taxmann.com 470High Court2020#10100 most cited

What is Sanjay Kaul v. Principal Commissioner of Income Tax, Delhi-8, New Delhi authority for?

Long-term capital gains or short-term capital losses claimed on transactions in penny stocks are considered fictitious and bogus, justifying their denial by the Assessing Officer. The court considers the preponderance of probabilities in such cases.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2022 to 2025.

Also referred to as

Sanjay Kaul · 10(38) · 68 · 69C · penny stock · bogus LTCG · fictitious transaction · preponderance of probability · cash credit · section 131(1)

Sections most often in play

Section 142(1)Section 143(2)Section 68Section 69CSection 10(38)Section 129Section 131Section 143(3)

Issues it is cited on

section 131(1)substantive assessmentpreponderance of probabilityonus of proofsurvey under section 133aprice riggingsource of sourcepenny stocklive linkbogus long term capital gainentry operatorbogus ltcg

Judgments citing Sanjay Kaul v. Principal Commissioner of Income Tax, Delhi-8, New Delhi

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…

Jet Air Agencies Pvt Ltd, West Bengal vs. Central Circle 2(3)Ahmedabad, Ahmedabad

In the result, Ground Nos

ITA 685/AHD/2023[2012-13]Status: DisposedITAT Ahmedabad31 May 2024AY 2012-13

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos. 1594 to 1597/Ahd/2019 (Assessment Years: 2010-11, 2011-12 & 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Income Tax Officer, 29B, Rabindra Sarani, 3rd Floor, Ward Central Circle-2(3), Room No. 10E, Kolkata-700073 Ahmedabad [PAN No.AAACJ7798P] (Appellant) .. (Respondent) I.T.A. No. 685/Ahd/2023 (Assessment Year: 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Assistant Commissioner of 29B, Rabindra Sarani, 3rd Floor, Income Tax, Room No. 10E, Kolkata-700073 Central…

Jet Air Agencies Pvt. Ltd, West Bengal vs. The ACIT, Centra Circle-2(3), Ahmedabad

In the result, Ground Nos

ITA 1597/AHD/2019[2012-13]Status: DisposedITAT Ahmedabad31 May 2024AY 2012-13

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos. 1594 to 1597/Ahd/2019 (Assessment Years: 2010-11, 2011-12 & 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Income Tax Officer, 29B, Rabindra Sarani, 3rd Floor, Ward Central Circle-2(3), Room No. 10E, Kolkata-700073 Ahmedabad [PAN No.AAACJ7798P] (Appellant) .. (Respondent) I.T.A. No. 685/Ahd/2023 (Assessment Year: 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Assistant Commissioner of 29B, Rabindra Sarani, 3rd Floor, Income Tax, Room No. 10E, Kolkata-700073 Central…

Jet Air Agencies Pvt. Ltd, West Bengal vs. The ACIT, Centra Circle-2(3), Ahmedabad

In the result, Ground Nos

ITA 1596/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad31 May 2024AY 2011-12

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos. 1594 to 1597/Ahd/2019 (Assessment Years: 2010-11, 2011-12 & 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Income Tax Officer, 29B, Rabindra Sarani, 3rd Floor, Ward Central Circle-2(3), Room No. 10E, Kolkata-700073 Ahmedabad [PAN No.AAACJ7798P] (Appellant) .. (Respondent) I.T.A. No. 685/Ahd/2023 (Assessment Year: 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Assistant Commissioner of 29B, Rabindra Sarani, 3rd Floor, Income Tax, Room No. 10E, Kolkata-700073 Central…

Jet Air Agencies Pvt. Ltd, West Bengal vs. The ACIT, Centra Circle-2(3), Ahmedabad

In the result, Ground Nos

ITA 1595/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad31 May 2024AY 2011-12

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos. 1594 to 1597/Ahd/2019 (Assessment Years: 2010-11, 2011-12 & 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Income Tax Officer, 29B, Rabindra Sarani, 3rd Floor, Ward Central Circle-2(3), Room No. 10E, Kolkata-700073 Ahmedabad [PAN No.AAACJ7798P] (Appellant) .. (Respondent) I.T.A. No. 685/Ahd/2023 (Assessment Year: 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Assistant Commissioner of 29B, Rabindra Sarani, 3rd Floor, Income Tax, Room No. 10E, Kolkata-700073 Central…

Jet Air Agencies Pvt. Ltd, West Bengal vs. The ACIT, Centra Circle-2(3), Ahmedabad

In the result, Ground Nos

ITA 1594/AHD/2019[2010-11]Status: DisposedITAT Ahmedabad31 May 2024AY 2010-11

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER& SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos. 1594 to 1597/Ahd/2019 (Assessment Years: 2010-11, 2011-12 & 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Income Tax Officer, 29B, Rabindra Sarani, 3rd Floor, Ward Central Circle-2(3), Room No. 10E, Kolkata-700073 Ahmedabad [PAN No.AAACJ7798P] (Appellant) .. (Respondent) I.T.A. No. 685/Ahd/2023 (Assessment Year: 2012-13) Jet Air Agencies Pvt. Ltd., Vs. Assistant Commissioner of 29B, Rabindra Sarani, 3rd Floor, Income Tax, Room No. 10E, Kolkata-700073 Central…

Shri Nilesh Haresh Parwani, Mumbai vs. The Assistant Commissioner of Income Tax-22(2), Mumbai

In the result, the appeal of the assessee is dismissed

ITA 2244/MUM/2023[2014-2015]Status: DisposedITAT Mumbai15 May 2024AY 2014-2015

Bench: Shri Vikas Awasthy & Shri Amarjit Singhshri Nilesh Haresh Vs. The Assistant Parwani, 501, Chumchum Commissioner Of Income Saraswati Road, Tax-22 (2) Santacruz West, Room No. 315, Piramal Mumbai – 400 064 Chamber, Lalbaug, Mumbai – 400 012 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Angpp1224L Appellant .. Respondent Appellant By : Sanjay Parikh Respondent By : Anil Sant Date Of Hearing 08.03.2024 Date Of Pronouncement 15.05.2024 आदेश / O R D E R Per Amarjit Singh (Am): This Appeal Filed By The Assessee Is Directed Against The Order Passed By The Ld. Cit(A) Nfac For A.Y. 2014-15. The Assessee Has Raised The Following Grounds Before Us: “A. Addition/Disallowance Of Short Term Capital Loss Rs.1,62,91,466/- 1. The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [Cit(A)] Erred On Facts & In Law In Confirming The Addition/Disallowance Of Short Term Capital Loss Of Rs. 1,62,91,466/- As Made By The Assistant Commissioner Of Income Tax, 22(2), Mumbai (Ao). 2. While Confirming The Addition/Disallowance Of The Said Loss, The Learned Cit(A) Erred In Holding That The Appellant Had Not Made Out A Case As To How Such Huge Ltcg/Stcl Has Accrued To The Appellant From Shares Of The Company Named Global Infratech Ltd.

For Appellant: Sanjay ParikhFor Respondent: Anil Sant
Section 143(2)Section 69C

…P a g e | 1 Shri Nilesh Haresh Parwani Vs. The ACIT-22(2) IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Shri Nilesh Haresh Vs. The Assistant Parwani, 501, Chumchum Commissioner of Income Saraswati Road, Tax-22 (2) Santacruz West, Room No. 315, Piramal Mumbai – 400 064 Chamber, Lalbaug, Mumbai – 400 012 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No:ANGPP1224L Appellant .. Respondent Appellant by : Sanjay Parikh Respondent by : Anil Sant Date of Hearing 08.03.2024 Date of Pronouncement 15.05.2024 आदेश / O R D E R Per Amarjit S…

Gunjan Bhageria, New Delhi vs. ACIT, New Delhi

ITA 909/DEL/2022[2017-18]Status: DisposedITAT Delhi06 Sept 2023AY 2017-18

Bench: Shri N. K. Billaiya & Shri Anubhav Sharma

Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 263Section 285B

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B ”: NEW DELHI BEFORE SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No. 909 /DEL/2022 Assessment Year: 2017-18 Ms. Gunjan Bhageria Vs Pr. Commissioner of Income Tax B-375, (Central) Delhi-1 New Friends Colony, New Delhi PAN : AACPB3751B APPELLANT RESPONDENT Assessee represented by Sh. Arvind Kumar, Adv. Department represented by Sh. T. James Singson, CIT, DR Date of hearing 13.07.2023 Date of pronouncement 06.09.2023 O R D E R PER ANUBHAV SHARMA, JM: The assessee has come in appeal against the order dated 31.03.2022 p…

Naresh Kumar Arora, Jaipur vs. DCIT, Circle-6, Jaipur

In the result, the appeal of the assessee is allowed

ITA 259/JPR/2022[2013-14]Status: DisposedITAT Jaipur21 Sept 2022AY 2013-14
For Appellant: Shri C.L. Yadav, CA shri Rajendra Sisodia,AdvFor Respondent: Shri Sanajy Dhariwal, CIT-DR
Section 10(38)Section 143(3)Section 147Section 148Section 68Section 69C

…1 NARESH KUMAR ARORA VS DCIT , CIRCLE-6, JAIPUR आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 259/JP/2022 fu/kZkj.k o"kZ@Assessment Year : 2013-14 cuke Shri Naresh Kumar Arora The DCIT C-242, Malviya Nagar Vs. Circle-6 Jaipur – 302 016 Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAYPA 5970 H vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri C…

Sanjay Kaul v. Principal Commissioner of Income Tax, Delhi-8, New Delhi (119 Taxmann.com 470) — Cited in 10 Judgments | BharatTax