INCOME-TAX OFFICER, WARD-1(3)(1), AHMEDABAD, AHMEDABAD vs. DEVAL PRANAV PATEL L/H. OF LATE SHRI PRANAV MAHENDRABHAI PATEL, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleassessment Year: 2017-18

bogus long term capital gain/loss and short term capital gain/loss. The Ld. DR relied upon the Assessment Order. 6. The Ld. AR submitted that the reasons recorded were bad as the approval does not mentions the quantum as to how much amount has been claimed as long term capital gain or on account of payment of Commission

SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

bogus long-term, short-term capital gains, trading profit/loss to the clients. The AO had also made statement of Shri Damodar Attal made part of the assessment order as annexure-1. The evidence found during the search clearly established that Shri Shirish C. Shah had used the platform of BOLT to jack up the price of shares by resorting

SHAILESH S. JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

bogus long-term, short-term capital gains, trading profit/loss to the clients. The AO had also made statement of Shri Damodar Attal made part of the assessment order as annexure-1. The evidence found during the search clearly established that Shri Shirish C. Shah had used the platform of BOLT to jack up the price of shares by resorting

SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

bogus long-term, short-term capital gains, trading profit/loss to the clients. The AO had also made statement of Shri Damodar Attal made part of the assessment order as annexure-1. The evidence found during the search clearly established that Shri Shirish C. Shah had used the platform of BOLT to jack up the price of shares by resorting

OVEZ ARIFBHAI LAKHANI,BHAVNAGAR vs. THE PR. CIT, AHMEDABAD-1, AHMEDABAD

In the result, the appeal of the assessee is dismissed

Bench: Income Tax Appellate Tribunal, Ahmedabad Benches, Has Arisen From The Revisionary Order Dated 12.03.2024 Passed By Ld. Principal

short KDJHRL)(formerly known as Gomti Finlease (India) Limited). The said scrip is a penny stock with scrip ID 530701 , engaged in providing long term capital gain/ loss to various entities. Based on above information, the case of the assessee was reopened u/s. 147 r.w.s. 148 of the Act, as a transaction in the penny stock being not commensurate with

HARSHADKUMAR HARGOVANDAS PATEL,KALOL vs. THE ITO, WARD-4, MEHSANA

In the result, the appeal of the assessee is allowed for statistical\npurposes

bogus.\nAccordingly, the short-term capital gain was computed at ₹9,51,234/-, and\nsince the assessee had declared only 6,45,834/-, the difference of\n3,05,400/- was added to the total income of the assessee. Penalty\nproceedings under sections 271(1)(c) and 271F of the Income Tax Act were\nalso initiated separately.\n12.\nIn appeal

NRUPAL NARESHCHANDRA RAJA,AHMEDABAD vs. THE PR. CIT, AHMEDABAD-1, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

purchased and sold shares through one SEBI registered broker, M/s. B.P. Equities Pvt. Ltd. of Mumbai, whose copy of account from my books as well as the contra account given by the said broker from his books are attached herewith at Annexure-C-coll. (Pages 6 to 8) to show that whatever transaction I had undertaken with them were through

DEPUTY COMMISSIONER OF INCOME -TAX CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD, GUJARAT vs. BHAVESHKUMAR GIRISHBHAI BHANDARI, AHMEDABAD, GUJARAT

Appeal is allowed in ITA 978/Ahd/2025 and ITA\n978/Ahd/2025 as well

bogus Long-Term Capital Gains and Short-Term\nCapital Gains. The Assessing Officer observed that the price of the scrip had\nabnormally risen from Rs. 2 to Rs. 469 within a short span of time without\nany corresponding improvement in the financials of the company, which\ndemonstrated that the scrip was artificially rigged.\n7. Despite repeated opportunities, the assessee failed

DEPUTY COMMISSIONER OF INCOME -TAX CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD, GUJARAT vs. BHAVESHKUMAR GIRISHBHAI BHANDARI, AHMEDABAD, GUJARAT

In the result, the appeal of the Department is allowed and the order of\nthe Assessing Officer is restored

bogus Long-Term Capital Gains and Short-Term\nCapital Gains. The Assessing Officer observed that the price of the scrip had\nabnormally risen from Rs.2 to Rs.469 within a short span of time without\nany corresponding improvement in the financials of the company, which\ndemonstrated that the scrip was artificially rigged.\n7.\nDespite repeated opportunities, the assessee failed to provide

DEPUTY COMMISSIONER OF INCOME -TAX CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD, GUJARAT vs. GIRISHKUMAR AMRATLAL BHANDARI HUF, HIMATNAGAR, GUJARAT

In the result, the appeal of the Department is allowed and the order of\nthe Assessing Officer is restored

bogus Long-Term Capital Gains and Short-Term\nCapital Gains. The Assessing Officer observed that the price of the scrip had\nabnormally risen from Rs.2 to Rs.469 within a short span of time without\nany corresponding improvement in the financials of the company, which\ndemonstrated that the scrip was artificially rigged.\n7.\nDespite repeated opportunities, the assessee failed to provide

AMISH MANUBHAI BRAHMBHATT ,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(2)(2), AHMEDABAD

In the result, the appeal filed by the Assessee is hereby allowed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Short Term Capital Loss and business loss. In view of the above, it was evident that the assessee had not declared income, resulting in failure on the part of the assessee to disclose his income. Therefore, there was reason to believe that income has escaped assessment within the meaning of section 147 of the I.T. Act and such escaped income

SHAILESHBHAI BHA vs. ANGBHAI CHAVDA,BHAVNAGARVS.THE INCOME TAX OFFICER WARD 1(4) BHAVNAGAR, BHAVNAGAR

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

Bench: Shri Ramit Kochar (Accountant Member)

bogus long term capital gains/bogus short term capital loss/bogus purchase loss etc. . Various incriminating documents were seized by Revenue during the course of search operations. Therefore, there was a reason to believe that the scrips of M/s. Divine Multimedia India Ltd., M/s. Diamant Infrastructure Ltd. and M/s VMS Industries Ltd. are not genuine. Shri Naresh Jain in his statement recorded

ALISHA PACKAGING INDUSTRIES,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

In the result, the appeals filed by the Assessee are allowed for statistical purposes

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

purchase and sale of shares of Kushal Tradelink Ltd. as non genuine and bogus long term capital loss, short term capital loss, gain

ALISHA PACKAGING INDUSTRIES,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

In the result, the appeals filed by the Assessee are allowed for statistical purposes

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

purchase and sale of shares of Kushal Tradelink Ltd. as non genuine and bogus long term capital loss, short term capital loss, gain

ALISHA PACKAGING INDUSTRIES,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

In the result, the appeals filed by the Assessee are allowed for statistical purposes

purchase and sale of shares of Kushal Tradelink Ltd. as non genuine and bogus long term capital loss, short term capital loss, gain

ALISHA PACKAGING INDUSTRIES,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

In the result, the appeals filed by the Assessee are allowed for statistical purposes

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

purchase and sale of shares of Kushal Tradelink Ltd. as non genuine and bogus long term capital loss, short term capital loss, gain

ALISHA PACKAGING INDUSTRIES,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

In the result, the appeals filed by the Assessee are allowed for statistical purposes

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

purchase and sale of shares of Kushal Tradelink Ltd. as non genuine and bogus long term capital loss, short term capital loss, gain

ALISHA PACKAGING INDUSTRIES,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

In the result, the appeals filed by the Assessee are allowed for statistical purposes

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

purchase and sale of shares of Kushal Tradelink Ltd. as non genuine and bogus long term capital loss, short term capital loss, gain