PRINCIPAL COMMISSIONER OF INCOME TAX-9, KOLKATA vs. GOPAL PRASAD TIKMANI

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PR CIT 9 KOLKATA vs. GIRISH TIKMANI

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX 9 KOLKATA vs. M/S GIRISH TIKMANI HUF

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX -5,KOL vs. RAMAKANT BERIWALA

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX-9, KOLKATA vs. M/S. GOPAL PRASAD TIKMANI HUF

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX vs. NAND KISHORE AGARWALA

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX SILIGURI vs. NEETU AGARWAL

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX KOL 5 vs. RANJIKA GUPTA

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. AAYUSH JHUNJHUNWALA HUF

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX SILIGURI vs. NITIN KUMAR AGARWAL

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX-5,KOL vs. SUNITA GOYAL

In the result, these appeals are allowed and the substantial

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gains both short term and long term and they have been accordingly taxed as per provisions of the Act. Further the assessee stated that she fails to understand as to on what basis the department has classified the share as a penny stock though the assessee received bonus from the said company, dividend from the said company and prominent

PRINCIPAL COMMISSIONER OF INCOME TAX 5 KOLKATA vs. RAM AWATAR DHOOT

The appeal is partly allowed and the substantial questions of

Bench: : The Hon’Ble The Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Chaitali Chatterjee (Das) Dated : 7Th March, 2025. Appearance:

penalty of Rs. 4,61,771/- u/s. 2 271(1)(c) imposed by the A.O. on the addition of unexplained cash credit u/s. 68 to the tune of Rs. 14,94,407/- on sale of shares of penny stock M/s. Sulabha Engineering Ltd. falsely claimed by the assessee as Long- Term Capital Gains

PRINCIPAL COMMISSIONER OF INCOME TAX-9,KOLKATA vs. MANJU OSATWAL

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

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital gain and claimed exemption under Section 10(38) of the Act. The assessing officer further noted that the assessee had made sale/purchase of shares through a stock broker. A communication under section 133(6) of the Act was issued to the said share broker for verification and confirmation of the transactions regarding sale and purchase of shares and reply

PRINCIPAL COMMISSIONER OF INCOME TAX ASANSOL vs. ANSHUMAN DROLIA

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Capital Gain ? (iv) Whether on the facts and circumstances of the case, the learned Income Tax Appellate Tribunal is perverse on facts and erroneous in law ? (v) Whether the Learned Tribunal below have mechanically overlooked the fact that the alleged defect in the penalty

PRINCIPAL COMMISSIONER OF INCOME TAX-5, KOLKATA vs. VIRENDRA KUMAR SURANA , HUF

Bench: :

capital gain was not justified. The assessee initially sought to justify their share 5 transaction but ultimately accepted the allegations made by the Assessing Officer in the show-cause notice which resulted in an assessment order and the assessee had also paid tax. Subsequently, penalty

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. NIPHA EXPORTS PVT LTD

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

capital to start a business in his own name. The accused/petitioner seeing such opportunity to utilise the expertise of the complainant and his contacts intended to set up/start and develop a business in her name in the form of a proprietorship concern and as such she requested the complainant to act as a consultant of the proprietorship concern