Suman Poddar v. ITO

423 ITR 480High Court2020#1365 most cited

What is Suman Poddar v. ITO authority for?

The Assessing Officer's detailed findings regarding bogus long-term capital gains from penny stock transactions, established through objective examination of facts and circumstantial evidence, should not be overturned by appellate authorities without a thorough investigation or fresh inquiry.

84

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2021 to 2026.

Also referred to as

Suman Poddar v. ITO · Section 10(38) · Section 68 · Section 133(6) · bogus long term capital gain · LTCG exemption · penny stock · price rigging · preponderance of probability · Assessing Officer investigation · appellate authority powers · Sumati Dayal · demat account statement

Also reported as

112 Taxmann.com 329

Sections most often in play

Section 68Section 10(38)Section 1961Section 143(3)Section 131Section 142(1)Section 133(6)Section 147
Read the full judgment

Issues it is cited on

price riggingbogus ltcgbogus long term capital gainpenny stocksection 10(38)paper companyentry operatorpreponderance of probabilitylong term capital gainsclosely held companyperiod of holdingretraction of statement

Judgments citing Suman Poddar v. ITO

Rachna Gupta, New Delhi vs. ACIT, Central Circle- 29, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 5418/DEL/2018[2015-16]Status: DisposedITAT Delhi20 Dec 2024AY 2015-16

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

For Appellant: Shri Saubhagya Agarwal, AdvocateFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR
Section 131Section 143Section 143(2)Section 143(3)Section 68

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the demat account statement of t…

Shobhit Gupta, Delhi vs. ACIT Cetntral Circle-29, New Delhi

In the result, the appeals filed by the Assessee in ITA No

ITA 2627/DEL/2022[2013-14]Status: DisposedITAT Delhi13 Nov 2024AY 2013-14

Bench: Shripradip Kumar Kedia & Shri Yogesh Kumar U.S.

Section 10(38)Section 132Section 143(1)Section 147Section 151Section 250

…ly M/s Goldline International Finvest Ltd. on the ground that the assessing officer has not made independent enquiry. 3. Though Revenue has mentioned in the present appeal that the issue involved is covered by the judgment of this Court in Suman Poddar v. ITO 423 ITR 480, wherein appeal of the Assessee was dismissed taking judicial notice of the fact that there was an astronomical increase in the share price Page 8 of 16 ITA No.2626-27 /Del/2022 Shobhit Gupta of a company which was not commensurate with the financial parameters of the said company, yet this Court finds that a Coordinate Bench of this Court in…

Shobhit Gupta, New Delhi vs. ACIT, Central Circle-29, New Delhi

In the result, the appeals filed by the Assessee in ITA No

ITA 2626/DEL/2022[2012-13]Status: DisposedITAT Delhi13 Nov 2024AY 2012-13

Bench: Shripradip Kumar Kedia & Shri Yogesh Kumar U.S.

Section 10(38)Section 132Section 143(1)Section 147Section 151Section 250

…ly M/s Goldline International Finvest Ltd. on the ground that the assessing officer has not made independent enquiry. 3. Though Revenue has mentioned in the present appeal that the issue involved is covered by the judgment of this Court in Suman Poddar v. ITO 423 ITR 480, wherein appeal of the Assessee was dismissed taking judicial notice of the fact that there was an astronomical increase in the share price Page 8 of 16 ITA No.2626-27 /Del/2022 Shobhit Gupta of a company which was not commensurate with the financial parameters of the said company, yet this Court finds that a Coordinate Bench of this Court in…

Archit Gupta, New Delhi vs. ACIT, Centralcircle-29, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 2625/DEL/2022[2013-14]Status: DisposedITAT Delhi06 Nov 2024AY 2013-14

Bench: Shri S.Rifaur Rahman & Shri Yogesh Kumar U.S.

For Appellant: Shri Ruchesh Sinha, AdvocateFor Respondent: Shri Virendra Singh, Sr. DR
Section 132Section 147Section 151Section 250

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the demat account statement of t…

Archit Gupta, New Delhi vs. ACIT, Central Circle-29, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 2624/DEL/2022[2012-13]Status: DisposedITAT Delhi06 Nov 2024AY 2012-13

Bench: Shri S.Rifaur Rahman & Shri Yogesh Kumar U.S.

For Appellant: Shri Ruchesh Sinha, AdvocateFor Respondent: Shri Virendra Singh, Sr. DR
Section 132Section 147Section 151Section 250

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the demat account statement of t…

Jyoti Gupta, Delhi vs. ACIT, Central Circle-29, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 2528/DEL/2022[2016-17]Status: DisposedITAT Delhi06 Nov 2024AY 2016-17

Bench: Shri S.Rifaur Rahman & Shri Sudhir Pareek

For Appellant: Shri Ruchesh Sinha, AdvocateFor Respondent: Ms. Rishpal Bedi, CIT DR
Section 131Section 143Section 68

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the demat account statement of t…

Jyoti Gupta, New Delhi vs. ACIT, Central Circle- 29, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 5419/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Nov 2024AY 2014-15

Bench: Shri S.Rifaur Rahman & Shri Sudhir Pareek

For Appellant: Shri Ruchesh Sinha, AdvocateFor Respondent: Ms. Rishpal Bedi, CIT DR
Section 131Section 143Section 68

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the demat account statement of t…

Dharamendra Bhandari (HUF), Gurgaon vs. Assistant Commissioner of Income Tax, Delhi

In the result, the appeal of the assessee is allowed

ITA 3787/DEL/2023[2013-14]Status: DisposedITAT Delhi28 Oct 2024AY 2013-14

Bench: Shri M. Balaganesh & Ms Madhumita Roydharamendra Bhandari (Huf), Vs. Cit(A), A-126, Sushant Lok-1, National Faceless Appeal Gurgaon, Haryana Centre, Delhi (Appellant) (Respondent) Pan:Aadhd2238J Assessee By : Shri R. S. Ahuja, Ca Shri Pushpdeep Singh, Adv Revenue By: Shri T James Singson, Cit Dr Date Of Hearing 02/08/2024 Date Of Pronouncement 28/10/2024

For Appellant: Shri R. S. Ahuja, CAFor Respondent: Shri T James Singson, CIT DR
Section 10(38)Section 143(3)Section 69C

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND MS MADHUMITA ROY, JUDICIAL MEMBER Dharamendra Bhandari (HUF), Vs. CIT(A), A-126, Sushant Lok-1, National Faceless Appeal Gurgaon, Haryana Centre, Delhi (Appellant) (Respondent) PAN:AADHD2238J Assessee by : Shri R. S. Ahuja, CA Shri PUshpdeep Singh, Adv Revenue by: Shri T James Singson, CIT DR Date of Hearing 02/08/2024 Date of pronouncement 28/10/2024 O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in ITA No.3787 /Del/2023 for AY 2013-14, arises out of the order of the National Faceless Appeal Centre (NFAC…

Rajrajeshwari Gupta, Kota vs. ITO, Ward 1(1), Kota

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

ITA 245/JPR/2024[2012-13]Status: DisposedITAT Jaipur07 Aug 2024AY 2012-13

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri Rajendra Sisodia AdvFor Respondent: Shri Rajesh Kumar Meena, Addl. CIT-DR
Section 10(38)Section 143(3)Section 148Section 68Section 69C

…on of Hon’ble Rajasthan High Court, and therefore, reliance by the CIT(A) on the decision in the case of Swati Bajaj is of no help to the revenue.The ld. AR has also brought to my notice through his written submission that judgment in the case of Suman Poddar 423 ITR 480 has already been distinguished by Hon’ble Delhi High Court itself in the case of PCIT vs. Krishna Devi in ITA No. 125/2020 and issue was decided in favour of assessee. In confirming the addition made by the AO holding the transactions to be bogus, the Ld. CIT(A) has once again relied on the decision of Calcutta High Court in the case of Swati Baj…

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…

Piyush Kumar, New Delhi vs. ITO Ward 3(1)(2), Muzaffarnagar

In the result, appeal filed by the assessee is partly

ITA 555/DEL/2024[2013-14]Status: DisposedITAT Delhi12 Jun 2024AY 2013-14

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

Section 10(38)Section 142Section 148Section 68

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. Piyush Kumar vs. ITO 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the demat…

Shaily Prince Goyal, Mumbai vs. Income Tax Officer-27(3)(1), Navi Mumbai

In the result, the appeal of the assessee Shri Yogesh Popatlal Thakkar in ITA No

ITA 4271/MUM/2023[2013-14]Status: DisposedITAT Mumbai30 May 2024AY 2013-14
For Appellant: Dr. K Shivaram Sr. Advocate & Shashi BekalFor Respondent: Ms. Sujatha Iyangar SR AR
Section 10(38)Section 143(3)Section 148Section 250Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH "G", MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER ITA 4271/Mum/2023 (Assessment year: 2013-14) Shaily Prince Goyal, Flat No.10, Block No.77, Prabha Building, R.B. Mehta Marg, 60 Feet Road, Ghatkopar (East), Mumbai-400 077 PAN: AEDPG5633E APPELLANT VS Income-tax Officer-27(3)(3), Mumbai, Tower No.6, 4th Floor, Room No.426, Vashi Railway Station Complex, Vashi, Navi Mumbai-400 703 RESPONDENT Assessee by : Dr. K Shivaram Sr. Advocate & Shashi Bekal Respondent by : Ms. Sujatha Iyangar SR AR Date of hearing : 21/05/2024…

Pradipkumar Harakchand Doshi, Mumbai vs. The ITO, Ward-19(2)(5), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 2229/MUM/2023[2015-16]Status: DisposedITAT Mumbai15 Mar 2024AY 2015-16

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blepradipkumar Harakchand Doshi V. Income Tax Officer – 19(2)(5) 94/100, 2Nd Floor Matru Mandir, Grant Road 2Nd Pathan Street Mumbai - 400007 Mumbai - 400004 Pan: Aahpd4722B (Appellant) (Respondent) Shri Neelkanth Khandelwal Assessee Represented By : Department Represented By : Shri H.M. Bhatt

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

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the demat account statement of t…

DCIT Central Circle -2(2), Mumbai vs. Shri Viral Saraf Mittal, Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 1843/MUM/2022[2018-19]Status: DisposedITAT Mumbai23 Feb 2024AY 2018-19

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Central Circle – 2(2) V. Viral Saraf Mittal Room No. 806, 8Th Floor 901/902, Capri Heights Old Cgo Annex Building Palli Hill, Bandra (W) M.K. Road, Mumbai - 400020 Mumbai - 400050 Pan: Azbps0317C (Appellant) (Respondent) Assessee Represented By : Shri Sidharth Kothari Department Represented By : Ms. Kavitha Kaushik

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

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the demat account statement of t…

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

…of the facts and documents, the conclusion arrived at by the AO in respect of the transaction in question, ought not to have been interfered with. In support of his submission, Mr. Hossain relies upon the judgment of this Court in Suman Poddar v. ITO, [2020] 423 ITR 480 (Delhi), and of the Supreme Court in Sumati Dayal v. CIT, (1995) Supp. (2) SCC 453. Page No. 40 Udayan Grover 9. Mr. Hossain further argues that the learned ITAT has erred in holding that the AO did not consider examining the brokers of the Respondent. He asserts that this holding is contrary to the findings of the AO. As a matter of fact, the de…

Aakruti Ketan Mehta, Mumbai vs. ITO, Ward-35(1)(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 53/MUM/2023[2014-2015]Status: DisposedITAT Mumbai31 Jan 2024AY 2014-2015

Bench: SHRI AMIT SHUKLA (Judicial Member), MS. PADMAVATHY S (Accountant Member)

Section 10(38)Section 131Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS. PADMAVATHY S, ACCOUNTANT MEMBER Aakruti Ketan Mehta Vs. ITO, Ward-35(1)(1) 2501/2502, Ashok Tower Kautilya Bhavan Dr. S.S. Rao Road Bandra Kurla Complex Parel, Mumbai-400 012 Mumbai-400 051 PAN/GIR No.BAVPM3711N (Appellant) .. (Respondent) Assessee by Shri Pradip Kapasi Revenue by Shri A.S. Sant Date of Hearing 28/12/2023 Date of Pronouncement 31/01/2024 आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the assessee against the order dated 02/12/2022 passed by ld. CIT(A)-57, Mu…

Naz Shazia, Moradabad vs. ITO Ward 1(1), Moradabad

In the result, the appeal of the assessee is allowed

ITA 1831/DEL/2023[2014-15]Status: DisposedITAT Delhi18 Jan 2024AY 2014-15

Bench: Shri M. Balaganeshnaz Shazia, Vs. Ito, Anwar House, Ground Ward-1(1), Floor, Pandit Nagla Mini Moradabad Bye Pass Road, Moradabad Pan: Bbwps217R Assessee By : Shri V. K. Tulsian, Ca Revenue By: Shri Om Parkash, Sr. Dr Date Of Hearing 15/01/2024 Date Of Pronouncement 18/01/2024

For Appellant: Shri V. K. Tulsian, CAFor Respondent: Shri Om Parkash, Sr. DR
Section 10(38)Section 143(1)Section 143(3)Section 147Section 148Section 234BSection 69A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “SMC”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER Naz Shazia, Vs. ITO, Anwar House, Ground Ward-1(1), Floor, Pandit Nagla Mini Moradabad Bye Pass Road, Moradabad PAN: BBWPS217R Assessee by : Shri V. K. Tulsian, CA Revenue by: Shri Om Parkash, Sr. DR Date of Hearing 15/01/2024 Date of pronouncement 18/01/2024 O R D E R 1. The appeal in ITA No. 1831/Del/2023 arises out of the order of National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as „ld. CIT(A)‟, in short] in Appeal No. ITBA/NFAC/S/250/2023-14/1052537146(1) dated 02.05.2023 against the…

Shri Manoj Madanlal Chhajed, Pune vs. Assistant Commissioner of Income Tax, Circle -1(1)Pune, Pune

In the result, the appeal filed by the assessee in ITA

ITA 725/PUN/2022[2018-19]Status: DisposedITAT Pune28 Jun 2023AY 2018-19

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / It(Ss)A Nos.91 To 96/Pun/2022 िनधा"रण वष" / Assessment Years : 2012-13 To 2017-18 Shri Manoj Madanlal Vs. Acit, Central Circle- Chhajed, 1(1), Pune. 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent आयकर अपील सं. / It(Ss)A Nos.97 & 98/Pun/2022 िनधा"रण वष" / Assessment Years : 2012-13 & 2015-16 Acit, Circle-1(1), Pune. Vs. Shri Manoj Madanlal Chhajed, 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent आयकर अपील सं. / Ita No.725/Pun/2022 िनधा"रण वष" / Assessment Year: 2018-19 Shri Manoj Madanlal Vs. Acit, Circle-1(1), Pune. Chhajed, 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent

For Appellant: Shri Ratan SamalFor Respondent: Shri Keyur Patel
Section 132(4)Section 139(1)

…the Act by itself without anything more can be basis for the addition. The Hon’ble Rajasthan High Court in the case of PCIT vs. Sanjay Chhabra, 453 ITR 516 referring to the two decisions of the Hon’ble High Court of Delhi in the case of Suman Poddar vs. ITO, 423 ITR 480 and Bhagirath Agarwal vs. CIT, 351 ITR 143 by held as under vide para 6 of the judgement :- “In both the aforesaid decisions, the High Court considered the material on record on its own facts. It was not propounded as the principle of law that without there being any other material, only on the basis of statement recorded under section 132(4) of…

Dy CIT Central Circle-6(3), Mumbai vs. Hiraben Khantilal Shah, Mumbai

In the result, all the appeals of the Revenue are dismissed

ITA 908/MUM/2022[2015-16]Status: DisposedITAT Mumbai16 Jun 2023AY 2015-16

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

Section 132Section 143(3)Section 153ASection 68Section 69

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘D’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 905/Mum/2022 (A.Y. 2015-16) Vs. Disha Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : ALWPS7264B (Appellant) (Respondent) I.T.A. No. 899/Mum/2022 (A.Y. 2015-16) Vs. Bhavya Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : D…

Dy CIT Central Circle-6(3), Mumbai vs. Disha Pankaj Lshah, Mumbai

In the result, all the appeals of the Revenue are dismissed

ITA 905/MUM/2022[2015-16]Status: DisposedITAT Mumbai16 Jun 2023AY 2015-16

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

Section 132Section 143(3)Section 153ASection 68Section 69

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘D’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 905/Mum/2022 (A.Y. 2015-16) Vs. Disha Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : ALWPS7264B (Appellant) (Respondent) I.T.A. No. 899/Mum/2022 (A.Y. 2015-16) Vs. Bhavya Pankaj Shah DCIT, Central Circle-6(3) Room No. 1903 G-5, Mangal Kunj 19th Floor Jambli Gulli Air India Building Borivali West Nariman Point Mumbai-400 092. Mumbai-400 021. PAN : D…