“price rigging”

Sanjay Basudeo Agarwal, Mumbai vs. Income Tax Officer 25(1)(1), Bandra Kurla Complex

In the result, the appeal filed by the assessee is allowed”

Bench: Shri Pavan Kumar Gadalesanjay Basudeo Agarwal, Vs Ito, Ward - 25(1)(1), 1601, Kanchan Ganga, Kautilya Bhawan, J.P Road, Manishnagar, G- Block,Bkc, Andheri (W), Bandra Kurla Complex, Mumbai-400053. Mumbai-400051. Pan/Gir No. : Aabpa1748E Appellant .. Respondent

also recorded by the AO and the Ld. AR emphasized that the assessee is only investor and not in Sanjay Basudeo Agarwal, Mumbai. any price rigging of shares and no enquiry was conducted by the SEBI or BSE on the assessee. The Ld. AR relied on the fallowing judicial decisions ... justified in taking an adverse view against the assessee on the ground of abnormal price rise of the shares and alleging price rigging. It was submitted that there is no allegation in orders of SEBI and/or the enquiry report of the Investigation Wing to the effect that the assessee

Pravinkumar Pratapchand Shah, Mumbai vs. Income Tax Officer 34(2)(7), Kautilya Bhavan

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

Bench: Shri Pavan Kumar Gadale & Ms. Padmavathy Spravinkumarpratapchand Vs Ito, Ward 34(2)(7), Shah,3Rd Floor, 13/15, 746, Kautilya Bhavan, Anantwadi, Atmaram C-41, To C-43, Merchant Road, G-Block Bkc, Chira Bazar, Bandra (E) Mumbai-400002. Mumbai-400051. Pan/Gir No. : Aapps9017G Appellant .. Respondent

investor and the transactions are supported with the material evidences.The AO has doubted the purchase and sale of shares and observed that the price rigging is not commensurate with the financials of the company. The assessee has substantiated with all details in support of sale and purchase of shares. Whereas

Jitendra Udaylal Jain, Mumbai vs. National Faceless Assessment Centre, Delhi

In the result, appeals filed by the assessee is allowed

Bench: Shri Narender Kumar Choudhry, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blejitendra Udaylal Jain V. National Faceless Assessment Centre(Nfac) C/O. M/S. Alankar Jewellers Shop Delhi No.1 Municipal Building R.A. Kidwai Road, Wadala Mumbai- 400037 Pan: Aabpj5480E (Appellant) (Respondent) Assessee Represented By : Shri. Vimal Punmiya Department Represented By : Shri. Ujjawal Kumar Chavan

unaccounted money into long-term capital gains and short-term capital gains by conniving with any entry operator/exit provider, who was involved in artificial price rigging of shares. Thus, this is the case wherein the AO merely on the basis of suspicion rejected the claim of the assessee, without establishing ... link between the assessee with the entry operators/exit providers, who were allegedly involved in price rigging of shares artificially of the aforesaid companies. Therefore, in view of the above, we are unable to persuade ourselves to accept the conclusion reached by the Revenue on the basis of findings recorded

Mohan Thakurdas Gurnani, Navi Mumbai vs. Dy CIT -CC-5(2), Mumbai

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

orchestrated scheme of converting unaccounted money into exempt long-term capital gain under section 10 (38) of the act. b) He further submitted that price rigging by Mr. Vipul and his accomplices are proved By the order of securities and exchange board of India order. c) He submits that ... that company was opened at ₹ 63 registered high of ₹ 615 and closed at ₹ 88.80. He submits that what else is the proof of the price rigging required. l) The learned assessing officer has not relied on merely the statement of Mr. Vipul but has also looked into the evidences, which

Mohan Thankurdas Gurnani, Navi Mumbai vs. Dy CIT -CC-5(2), Mumbai

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

orchestrated scheme of converting unaccounted money into exempt long-term capital gain under section 10 (38) of the act. b) He further submitted that price rigging by Mr. Vipul and his accomplices are proved By the order of securities and exchange board of India order. c) He submits that ... that company was opened at ₹ 63 registered high of ₹ 615 and closed at ₹ 88.80. He submits that what else is the proof of the price rigging required. l) The learned assessing officer has not relied on merely the statement of Mr. Vipul but has also looked into the evidences, which

Mohan Thakurdas Gurnani, Navi Mumbai vs. Dy CIT -CC-5(2), Mumbai

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

orchestrated scheme of converting unaccounted money into exempt long-term capital gain under section 10 (38) of the act. b) He further submitted that price rigging by Mr. Vipul and his accomplices are proved By the order of securities and exchange board of India order. c) He submits that ... that company was opened at ₹ 63 registered high of ₹ 615 and closed at ₹ 88.80. He submits that what else is the proof of the price rigging required. l) The learned assessing officer has not relied on merely the statement of Mr. Vipul but has also looked into the evidences, which

Mohan Thakurdas Gurnani, Navi Mumbai vs. Dy CIT -CC-5(2), Mumbai

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

orchestrated scheme of converting unaccounted money into exempt long-term capital gain under section 10 (38) of the act. b) He further submitted that price rigging by Mr. Vipul and his accomplices are proved By the order of securities and exchange board of India order. c) He submits that ... that company was opened at ₹ 63 registered high of ₹ 615 and closed at ₹ 88.80. He submits that what else is the proof of the price rigging required. l) The learned assessing officer has not relied on merely the statement of Mr. Vipul but has also looked into the evidences, which

Mohan Thakurdas Gurnani, Navi Mumbai vs. Dy CIT -CC-5(2), Mumbai

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

orchestrated scheme of converting unaccounted money into exempt long-term capital gain under section 10 (38) of the act. b) He further submitted that price rigging by Mr. Vipul and his accomplices are proved By the order of securities and exchange board of India order. c) He submits that ... that company was opened at ₹ 63 registered high of ₹ 615 and closed at ₹ 88.80. He submits that what else is the proof of the price rigging required. l) The learned assessing officer has not relied on merely the statement of Mr. Vipul but has also looked into the evidences, which

Mohan Thakurdas Gurnani, Navi Mumbai vs. Dy CIT -CC-5(2), Mumbai

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

orchestrated scheme of converting unaccounted money into exempt long-term capital gain under section 10 (38) of the act. b) He further submitted that price rigging by Mr. Vipul and his accomplices are proved By the order of securities and exchange board of India order. c) He submits that ... that company was opened at ₹ 63 registered high of ₹ 615 and closed at ₹ 88.80. He submits that what else is the proof of the price rigging required. l) The learned assessing officer has not relied on merely the statement of Mr. Vipul but has also looked into the evidences, which

Mohan Gurnani, Navi Mumbai vs. DCIT Central Cirle - 5(2), Mumbai

The appeal of the assessee is partly allowed for assessment year 2014 – 15 also

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

orchestrated scheme of converting unaccounted money into exempt long-term capital gain under section 10 (38) of the act. b) He further submitted that price rigging by Mr. Vipul and his accomplices are proved By the order of securities and exchange board of India order. c) He submits that ... that company was opened at ₹ 63 registered high of ₹ 615 and closed at ₹ 88.80. He submits that what else is the proof of the price rigging required. l) The learned assessing officer has not relied on merely the statement of Mr. Vipul but has also looked into the evidences, which

Sanjay Madanraj Shah, Mumbai vs. ACIT 32(3), Mumbai

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

Bench: Shri Pavan Kumar Gadale & Ms Padmavathy Ssanjay Madanrajshah, Acit – 32(3) 316, New Link Way Kautilya Bhavan, बनाम/ Estate, Near Chincholi Bkc Complex, Vs. Fire Brigade, Bandra (E), Malad (W), Mumbai-400051. Mumbai-400064. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Ajcps1858H (""थ" / Respondent) (अपीलाथ" /Appellant)

documentary evidences. The Ld.AR emphasized that the assessee is only a investor and was not involved in ITA.No.1502/Mum/2023. Sanjay Madanraj Shah.Mumbai the price rigging of shares and no enquiry was conducted by the SEBI and BSE against the assessee or the company. The Ld. AR relied on the fallowing ... purchase of shares. The Tribunal has also come to a finding that there is no allegation against assessee that it has participated in any price rigging in the market on the shares of RFL. 3. Therefore we find nothing perverse in the order of the Tribunal. Sanjay Madanraj Shah., Mumbai

DCIT-19(3), Mumbai vs. Renu Prakash Bijlani, Mumbai

In the result, the appeal filed by the revenue for AY 2011-12 is dismissed and the appeal filed for AY 2014-15 is partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

shares. We also notice that there is also no allegation made that the assessee was part of ring which indulged in the alleged price rigging. The allegation of the AO is that the assessee has availed accommodation entries by way of long term capital gains. We notice that an identical ... shares. The Tribunal has also come to a finding that there is no allegation against the assessee that it has participated in any price rigging in the market on the shares of RFL. 3. Therefore we find nothing perverse in the order of the Tribunal. 4. Mr. Walve placed reliance

Income Tax Officer-1(1)(1), Mumbai vs. Sohni Depak Tanna, Mumbai

In the result appeal of the learned assessing officer and cross objections of the assessee are dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm C.O.No. 135/Mum/2022 (Assessment Year 2014-15) Sohni Dipak Tanna Ito 1(1)(1), Mumbai 2Nd Floor, Tanna House, 11A, 534, 5Th Floor, Aaykar Bhavan, Nathlal Parekh Marg, M. K. Road, Vs. Mumbai-400020 Mumbai-400001 (Appellant) (Respondent) Pan No. Acept3611J Sohni Dipak Tanna Ito 1(1)(1), Mumbai 2Nd Floor, Tanna House, 11A, 534, 5Th Floor, Aaykar Bhavan, Nathlal Parekh Marg, M. K. Road, Vs. Mumbai-400020 Mumbai-400001 (Appellant) (Respondent) Pan No. Acept3611J Assessee By : Shri. Madhur Agrawal & Pankaj Jain Revenue By : Shri. Kishor Dhule Date Of Hearing: 03.10.2023 Date Of Pronouncement : 30.10.2023

section 151 of the act.” 07. Assessee objected on 12 June 2019 to such reasons for reopening of assessment on following points:- i. Alleged price rigging stating that though the learned AO has stated that the alleged price rigging has been recorded from the report dated 13/12/2016 of the investigation ... action has also been taken either by securities and exchange board of India or Bombay stock exchange in respect of the said allegation of price rigging. Therefore the assessment A.Y. 2014-15 Sohni Dipak Tanna is reopened merely on the basis of the presumptions and surmises not on concrete evidences

Vipul M Shah (HUF), Mumbai vs. ITO -17(3)(5), Mumbai

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Amarjit Singhvipul M Shah (Huf) Vs. The Ito 17(3)(5) 404, Commerce House, Mumbai 140, N.M. Road, Fort, Maharashtra – 400001 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aabhv3153Q Appellant .. Respondent [ Appellant By : Vimal Punamiya Respondent By : Gotimukul Santosh Kumar Date Of Hearing 20.07.2023 Date Of Pronouncement 16.10.2023

assessee and by bringing on record, any cogent material to sustain those additions, could not be discharged by the revenue. The allegation of price rigging / manipulation has been levied without establishing the vital link between the assessee and various entities of Shri Vipul Bhat. We find that the whole basis

Ketan Jayant Shah, Mumbai vs. DCIT, Circle 1, Thane

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

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

shares. The Tribunal has also come to a finding that there is no allegation against the assessee that it has participated in any price rigging in the market on the shares of RFL. 3. Therefore we find nothing perverse in the order of the Tribunal. 4. Mr. Walve placed reliance ... Shyam R Pawar (supra) and Ziauddin A Siddique (supra) shall apply, since the AO has not established that the assessee was involved in price rigging and further the AO did not find fault with any of the documents furnished by the assessee. In view of the binding decision rendered

Naresh Manakchand Jain, Mumbai vs. ACIT 2(1), Mumbai

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

long term capital gains in connivance with the several directors of the companies whose share prices are rigged, several exit providers who engaged in price rigging and buying shares in fraudulent manners to help several beneficiaries who converted their unaccounted income in to alleged long term capital gain in shares ... several hundred of crores, , all these persons have used stock exchange platform through exit providers, connivance with the brokers, directors of suspicious companies, price rigging through synchronized trade a money laundering exercise involving serious violation of Income tax, Securities law, Corporate Laws, banking laws and several other economic laws. Such

Naresh Manakchand Jain, Mumbai vs. ACIT 2(1), Mumbai

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

long term capital gains in connivance with the several directors of the companies whose share prices are rigged, several exit providers who engaged in price rigging and buying shares in fraudulent manners to help several beneficiaries who converted their unaccounted income in to alleged long term capital gain in shares ... several hundred of crores, , all these persons have used stock exchange platform through exit providers, connivance with the brokers, directors of suspicious companies, price rigging through synchronized trade a money laundering exercise involving serious violation of Income tax, Securities law, Corporate Laws, banking laws and several other economic laws. Such