EPSILON ADVISORS P. LTD.,,BANGALORE vs. CIT, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

short term capital loss claimed of Rs. 4,28,96,900/ - is incorrect, overstated and an attempt to evade tax by reducing the incidence of long term capital gain arising from sale of M/ s. BBNL shares and requires to be corrected. 10. On going through the report of Investigation Wing, it is also seen that the assessee company

EPSILON ADVISORS P. LTD.,,BANGALORE vs. CIT, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

short term capital loss claimed of Rs. 4,28,96,900/ - is incorrect, overstated and an attempt to evade tax by reducing the incidence of long term capital gain arising from sale of M/ s. BBNL shares and requires to be corrected. 10. On going through the report of Investigation Wing, it is also seen that the assessee company

DCIT, BANGALORE vs. M/S EPSILON ADVISORS PVT. LTD.,, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

short term capital loss claimed of Rs. 4,28,96,900/ - is incorrect, overstated and an attempt to evade tax by reducing the incidence of long term capital gain arising from sale of M/ s. BBNL shares and requires to be corrected. 10. On going through the report of Investigation Wing, it is also seen that the assessee company

DCIT, BANGALORE vs. M/S EPSILON ADVISORS PVT. LTD.,, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

short term capital loss claimed of Rs. 4,28,96,900/ - is incorrect, overstated and an attempt to evade tax by reducing the incidence of long term capital gain arising from sale of M/ s. BBNL shares and requires to be corrected. 10. On going through the report of Investigation Wing, it is also seen that the assessee company

SARITA DUDHERIA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

bogus long term capital gains. The details of the long term capital gains claimed to have accrued to the assessee in respect of such shares are given below : 1. Blue Circle Services : 2,22,86,551 2. Parag Shilpa Investments : 1,51,66,667 Out of the above, the long term capital gains on account of sale of shares

SARITA DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE- 1(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

bogus long term capital gains. The details of the long term capital gains claimed to have accrued to the assessee in respect of such shares are given below : 1. Blue Circle Services : 2,22,86,551 2. Parag Shilpa Investments : 1,51,66,667 Out of the above, the long term capital gains on account of sale of shares

SARITA DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE- 1(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

bogus long term capital gains. The details of the long term capital gains claimed to have accrued to the assessee in respect of such shares are given below : 1. Blue Circle Services : 2,22,86,551 2. Parag Shilpa Investments : 1,51,66,667 Out of the above, the long term capital gains on account of sale of shares

LAXMIPAT DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, all the four appeals filed by the assessee are allowed

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Short term Capital gains arising out of investment in M/s. Fact Enterprises Ltd of Rs.5,109/- as Cash credit u/s 68 of the Act and also to add 3% of the total LTCG claim u/s 69C of the Act (copy of the notice is reproduced in Para 6 of the assessment order). The AO in support of the allegations made

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, all the four appeals filed by the assessee are allowed

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Short term Capital gains arising out of investment in M/s. Fact Enterprises Ltd of Rs.5,109/- as Cash credit u/s 68 of the Act and also to add 3% of the total LTCG claim u/s 69C of the Act (copy of the notice is reproduced in Para 6 of the assessment order). The AO in support of the allegations made

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, all the four appeals filed by the assessee are allowed

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Short term Capital gains arising out of investment in M/s. Fact Enterprises Ltd of Rs.5,109/- as Cash credit u/s 68 of the Act and also to add 3% of the total LTCG claim u/s 69C of the Act (copy of the notice is reproduced in Para 6 of the assessment order). The AO in support of the allegations made

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, all the four appeals filed by the assessee are allowed

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Short term Capital gains arising out of investment in M/s. Fact Enterprises Ltd of Rs.5,109/- as Cash credit u/s 68 of the Act and also to add 3% of the total LTCG claim u/s 69C of the Act (copy of the notice is reproduced in Para 6 of the assessment order). The AO in support of the allegations made

JAYANTILAL BHAGWANCHAND,BENGALURU vs. INCOME TAX OFFICER, WARD-5(2)(4), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri George George K & Shri Waseem Ahmedassessment Year : 2011-12

capital gain as bogus was that the investment was made by the assessee through offline mode and the price of share of the company M/s Comfort Intech Ltd increased manifolds in a short period of time. In this regard, firstly we note that the offline purchase of share is not prohibited under the statute. Secondly the price of the scripts

SMT. USHA BEN NAHAR,BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result the appeal of the assessee is allowed for statistical purposes

Bench: Shri Vijay Pal Raoassessment Year : 2006-07

short term capital gain, long term capital gain on account of commodity trading, share application money etc. Accordingly, the investigation wing of the IT department gave information to the AO that during the financial year 2006-07, the assessee purchases M/s. Talent Infoway Limited shares through the broker M/s. Goldstar Finvest Pvt. Ltd. The assessment was reopened

M/S. ETA STAR INFOPARK,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, BENGALURU

Bench: Shri Chandra Poojari & Smt. Beena Pillai

short term capital gains shown in the computation of income which is not part of the notice issued under Section 263 of the Act and consequently the entire order passed under Section 263 of the Act is bad in law on the facts and circumstances of the case. 9. The learned Pr. Commissioner of Income Tax grossly erred in holding

M/S. ETA STAR INFOPARK,BENGALURU vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, BENGALURU-1, BENGALURU

Bench: Shri Chandra Poojari & Smt. Beena Pillai

short term capital gains shown in the computation of income which is not part of the notice issued under Section 263 of the Act and consequently the entire order passed under Section 263 of the Act is bad in law on the facts and circumstances of the case. 9. The learned Pr. Commissioner of Income Tax grossly erred in holding

SHRI.VIJAY NAHAR(HUF),BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result the appeal of the assessee is allowed for statistical purposes

Bench: Shri Vijay Pal Raoassessment Year : 2007-08

short term capital gain, long term capital gain on account of commodity trading, share application money etc. Accordingly, the investigation wing of the IT department gave information to the AO that during the financial year 2006-07, the assessee purchases M/s. Talent Infoway Limited shares through the broker M/s. Goldstar Finvest Pvt. Ltd. The assessment was reopened

SMT.H.V.PINKY,BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri Vijay Pal Raoassessment Year: 2007-08

short term capital gain, long term capital gain on account of commodity trading, share application money etc. Accordingly, the investigation wing of the IT department gave information to the AO that during the financial year 2006-07, the assessee purchases M/s. Talent Infoway Limited shares through the broker M/s. Goldstar Finvest Pvt. Ltd. The assessment was reopened

SMT.ASHA NAHAR,BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri Vijay Pal Raoassessment Year: 2007-08

short term capital gain, long term capital gain on account of commodity trading, share application money etc. Accordingly, the investigation wing of the IT department gave information to the AO that during the financial year 2006-07, the assessee purchases M/s. Talent Infoway Limited shares through the broker M/s. Goldstar Finvest Pvt. Ltd. The assessment was reopened