“entry operator”

Sachin Chirania, Mumbai vs. The Income Tax Officer, Ward - 30(3)(5), Mumbai

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

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhariassessment Year: 2011-12

wing: The findings of the Directorate of Investigation of Mumbai and Kolkata as discussed above have proved that Shri Anil Agarwal and associated brokers, entry operators and the assessee had 4 Shri Sachin Chirania worked out an arrangement in which the shares were acquired by the assessee, the share prices ... were rigged and then with the help of entry operators by routing the cash, shares were sold at high price to arrive at tax free capital gains. d. Analysis of transactions: Facts revealed that such trading transactions of purchase and sale of shares are not been effected, for commercial purpose

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

Blazon Marbles Ltd. & Radford Global Ltd. were purchased by the assessee as a genuine investment decision. The price rigging was achieved by the bogus entry operators through manipulation. 15.5 Commission payment for accommodation entry of bogus LTCG 15.5.1 As it has been discussed in detail in this assessment order ... evidence on record that assessee was involved in converting his unaccounted income into exempt long term capital gains by conniving with the so called entry operators and brokers who were involved in artificial price rigging of shares. No evidence is brought on record to prove that assessee was directly involved

Kishore Ghevarchand Jain, Mumbai vs. DCIT, Circle-1, Kalyan

In the result, the appeal is allowed in aforesaid terms

Bench: Shri Amit Shukla & Shri Ratnesh Nandan Sahayassessment Year: 2015-16 Mr. Kishor Ghevarchand Jain Circle -1, Kalyan D.C.I.T. 3Rd Floor, 1St Floor, Porwal Bhawan, Mohan Plaza, Vs. Near Vaishya Mandir Hall, Wayale Nagar, Kasarhat, Kalyan Khadak Pada, Thane - 421301. Kalyan (W.) - 421301. Pan: Aazpj6248E (Appellant) (Respondent) Present For: Assessee By : Shri Bhupendra Shah, A.R. Revenue By : Shri P. D. Chougule (Addl. Cit), Sr. D.R. Date Of Hearing : 13 . 05 . 2024 Date Of Pronouncement : 29 . 05 . 2024 O R D E R Per : Ratnesh Nandan Sahay: 1. This Appeal Has Been Filed By The Appellant Against The Order Of The Ld. Cit (Appeals) Passed U/S. 250 Of The Income Tax Act [The „Act‟ In Short] Vide Its Din & Order No. Itba/ Nfac/S/250/2023-24/1057548827(1) Dated 31/10/2023 For The Assessment Year 2015-16. 2. The Following Ground Of Appeal Have Been Raised:

carried out by the income tax department to unearth tax evasion scam in “F” & “O” derivative segment in which syndicate of share brokers and entry operators were involved who provided bogus loss/profit to various entities by trading on the platform of VSE, NSE, USE etc. in equity derivative option segment ... also added to the total income of the assessee u/s.69C of the Act on the ground that the assessee might have paid the entry operators in lieu of the services provided by them to facilitate the entire process. 8. Aggrieved by the order of the Ld. Assessing Officer, an appeal

ACIT(Central Circle)-6(4), Mumbai vs. Ken Financial Services Limited, Mumbai

In the result, appeal of the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

Unit-4, Mumbai that the assessee had repaid the loans taken from various concerns operated by Shri Vipul Vidur Bhatt, who was an entry operator and was controlling and managing various bogus-entities/companies?” 3. Here in this case, re-assessment order u/s.143(3) r.w.s. 263 was earlier completed

Incometax Officer-19(2)(2), Mumbai vs. Meher Anoop Malani, Mumbai

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriito-19(2)(2) Vs. Meher Anoop Malani, Room No. 503, 5 Th Floor, 6, Homcruz Mansion, 2Nd Piramal Chamber, Floor, 72 Bhulabai Desai Lalbaug, Parel, Road, Mumbai-400012 Mumbai-400026 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaepm08655D Appellant .. Respondent

brokers/other entities were involved in price manipulation in the scrip thereby confirming the investigation of the department that the scrip is utilized by entry operators for providing accommodation entries under the garb of LTCG by manipulating/rigging up the share price." 4. "On the facts and circumstances of the case

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

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.

business of bogus LTCG involves three different individuals, the promoter of "penny stocks" companies also known as syndicate member, the share brokers and the entries operators who purchases the shares through paper companies by taking cash and many at times the three categories of individuals perform overlapping roles ... cases on hand, undoubtedly the report contains information about various penny stocks companies about the directors of the companies and also the stock brokers, entry operators and others who have been named in the report. It is an admitted case that the names of the assessees do not figure

Orbit Financial Capital, Mumbai vs. ACIT-19 (2), Mumbai

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

Bench: the Ld. CIT(A) on 17/01/2017, which was I.T.A. No. 271/Mum/2024

THE INCOME-TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI SHRI AMIT SHUKLA, JUDICIAL MEMBER & SMT RENU JAUHRI, ACCOUNTANT MEMBER I.T.A. No