Search: capital gains | BharatTax

Search ITAT High Courts Supreme Court Phrases AI Research History

Filters

Sort by

Assessment Year

Order Date From

Order Date To

Judge Name

BharatTax.net

Free search engine for ITAT (Income Tax Appellate Tribunal) judgments across all 28 benches in India.

Quick Links

Search Judgments
Browse by Bench
Recent Judgments

About

BharatTax provides free access to Income Tax Appellate Tribunal orders for legal research and reference.

© 2026 BharatTax.net. All rights reserved.

66 results for “capital gains”+ Penny Stockclear

Sorted by relevance

Mumbai928 Delhi344 Kolkata260 Chennai235 Ahmedabad159 Jaipur142 Indore92 Calcutta73 Chandigarh66 Pune55 Bangalore54 Hyderabad48 Surat42 Guwahati37 Lucknow37 Cuttack25 Raipur21 Rajkot20 Ranchi16 Nagpur15 Jodhpur8 Patna8 Amritsar7 Varanasi5 Visakhapatnam4 Agra4 Jabalpur3 Telangana2 Orissa2 Gauhati1

Key Topics

Addition to Income56 Section 153A54 Section 10(38)47 Section 13247 Long Term Capital Gains38 Section 250(6)33 Section 6827 Section 26322 Section 143(3)

SHRI KRISHAN KUMAR JALAN,BANGALORE vs. ITO, W-1, SIRSA

In the result appeal of the assessee is dismissed

ITA 933/CHANDI/2019[2014-15]Status: DisposedITAT Chandigarh15 Jan 2025AY 2014-15

For Appellant: \nShri P.K. Prasad, Advocate &For Respondent: \nDr. Vivek Vardhan, JCIT, Sr. DR

Section 10(38)Section 143(2)Section 143(3)Section 250(6)Section 253Section 68

capital gains shown in return (penny stock tab in ITS)” under the\nscope complete scrutiny.\n2.4 That the statutory notice

Showing 1–20 of 66 · Page 1 of 4

21

Capital Gains16

M/S SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 610/CHANDI/2023[2015-16]Status: DisposedITAT Chandigarh08 Oct 2024AY 2015-16

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Smt. Kusum Bansal, CIT, DR

Section 132Section 132(4)Section 250(6)Section 68Section 69ASection 69C

penny stock of Maa Jagdambe and earned huge Long Term Capital Gain (exempt income). There are large numbers of such

SANJAY SINGAL,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-1, CHANDIGARH

ITA 655/CHANDI/2023[2015-16]Status: DisposedITAT Chandigarh08 Oct 2024AY 2015-16

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Smt. Kusum Bansal, CIT, DR

Section 132Section 132(4)Section 250(6)Section 68Section 69ASection 69C

penny stock of Maa Jagdambe and earned huge Long Term Capital Gain (exempt income). There are large numbers of such

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 714/CHANDI/2018[2011-12]Status: DisposedITAT Chandigarh20 Sept 2021AY 2011-12

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 717/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh20 Sept 2021AY 2014-15

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 716/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh20 Sept 2021AY 2013-14

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 710/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh20 Sept 2021AY 2013-14

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

SH. ANIKET SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 719/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh20 Sept 2021AY 2014-15

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

SH. SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 705/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh20 Sept 2021AY 2014-15

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

SH. ANIKET SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 718/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh20 Sept 2021AY 2013-14

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 711/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh20 Sept 2021AY 2014-15

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

ITA 708/CHANDI/2018[2011-12]Status: DisposedITAT Chandigarh20 Sept 2021AY 2011-12

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

For Respondent: Shri G.C. Srinivastava, Spl.Counsel

Section 132Section 132(1)Section 132ASection 153ASection 153A(1)Section 250(6)

stock exchange as well as SEBI. Therefore, treating the impugned long- term capital gain as bogus in nature would be a disgrace of such authorities which came into existence through the Parliament of India. Further in such a highly regularised and formalized system of trading, rigging or manipulating the transaction is almost impossible. 49. The word penny

TARUN JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

ITA 625/CHANDI/2019[2013-14]Status: DisposedITAT Chandigarh27 Jan 2020AY 2013-14

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

Section 10(38)Section 143(1)Section 143(3)Section 153A

Capital Gain and identified various penny stocks i.e. stocks having very low price, closely held and privately placed through route

SANJAY JAIN & SONS,BATHINDA vs. DCIT, CC-1, LUDHIANA

ITA 629/CHANDI/2019[2013-14]Status: DisposedITAT Chandigarh27 Jan 2020AY 2013-14

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

Section 10(38)Section 143(1)Section 143(3)Section 153A

Capital Gain and identified various penny stocks i.e. stocks having very low price, closely held and privately placed through route

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

ITA 707/CHANDI/2019[2011-12]Status: DisposedITAT Chandigarh27 Jan 2020AY 2011-12

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

Section 10(38)Section 143(1)Section 143(3)Section 153A

Capital Gain and identified various penny stocks i.e. stocks having very low price, closely held and privately placed through route

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

ITA 710/CHANDI/2019[2014-15]Status: DisposedITAT Chandigarh27 Jan 2020AY 2014-15

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

Section 10(38)Section 143(1)Section 143(3)Section 153A

Capital Gain and identified various penny stocks i.e. stocks having very low price, closely held and privately placed through route

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

ITA 708/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh27 Jan 2020AY 2012-13

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

Section 10(38)Section 143(1)Section 143(3)Section 153A

Capital Gain and identified various penny stocks i.e. stocks having very low price, closely held and privately placed through route

RAJNI JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

ITA 627/CHANDI/2019[2013-14]Status: DisposedITAT Chandigarh27 Jan 2020AY 2013-14

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

Section 10(38)Section 143(1)Section 143(3)Section 153A

Capital Gain and identified various penny stocks i.e. stocks having very low price, closely held and privately placed through route

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

ITA 709/CHANDI/2019[2013-14]Status: DisposedITAT Chandigarh27 Jan 2020AY 2013-14

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

Section 10(38)Section 143(1)Section 143(3)Section 153A

Capital Gain and identified various penny stocks i.e. stocks having very low price, closely held and privately placed through route

SANJAY SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

In the result, assessee’s appeals are allowed

ITA 220/CHANDI/2025[2016-17]Status: DisposedITAT Chandigarh09 Sept 2025AY 2016-17

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Ashwani Kumar, C.A and Ms. Deepali Aggarwal, C.AFor Respondent: Smt. Kusum Bansal, CIT, DR

Section 10(38)Section 132Section 250(6)Section 68Section 69C

capital gain is not allowable; iv. Failure of the appellant to discharge his onus: The appellant has not been able to prove the unusual rise and fall of share prices to be natural and based on the market forces. It is evident that such share transactions were closed circuit transactions and clearly a structured one; v. Ignorance of the appellant