SMT.RITA AGARWAL ,CHENAI vs. PCIT , CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 433/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

penny stocks and amounts transacted through the current account of M/s. Onkar Supply Pvt Ltd. During the course of reassessment proceedings, the AO on the basis of said information examined :-18-: ITA. No:433/Chny/2022 the case of the assessee in light of detailed submissions filed by the assessee and after examining details filed by the assessee, the AO came

SMT. SHOBA AGARWAL,CHENNAI vs. ACIT CENT CIRCLE 3(2), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 421/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

penny stocks and :-18-: ITA. No:421/Chny/2022 amounts transacted through the current account of M/s. Onkar Supply Pvt Ltd. During the course of reassessment proceedings, the AO on the basis of said information examined the case of the assessee in light of detailed submissions filed by the assessee and after examining details filed by the assessee, the AO came

SHRI VINOD BANSAL,CHENNAI vs. ACI-CENT. CIRCLE-3(2), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkery, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 445/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

penny stocks and :-18-: ITA. No:445/Chny/2022 amounts transacted through the current account of M/s. Onkar Supply Pvt Ltd. During the course of reassessment proceedings, the AO on the basis of said information examined the case of the assessee in light of detailed submissions filed by the assessee and after examining details filed by the assessee, the AO came

PANKAJ AGARWAL,CHENNAI vs. PCIT , CHENAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 434/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

penny stocks and :-18-: ITA. No:434/Chny/2022 amounts transacted through the current account of M/s. Onkar Supply Pvt Ltd. During the course of reassessment proceedings, the AO on the basis of said information examined the case of the assessee in light of detailed submissions filed by the assessee and after examining details filed by the assessee, the AO came

MUTHUSAMY SHANMUGAM,CHENNAI vs. ITO, INTERNATIONAL TAXATION WARD-2(2), CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Manjunatha. G & Shri Manomohan Dasआयकर अपील सं./Ita No.362/Chny/2023 िनधा(रण वष( /Assessment Year: 2013-14 Muthusamy Shanmugam, The Income Tax Officer, C/O.Ramesh & Ramachandran, Cas Vs. Ward-2(2), New No.39, Old No.29/3, Chennai. Viswanathapuram Main Road, Kodambakkam, Chennai – 600 024. [Pan: Dghps-7897-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Y. Sridhar, F.C.A ""यथ" क" ओर से /Respondent By : Shri V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 21.09.2023 घोषणा क" तारीख /Date Of Pronouncement : 30.11.2023 आदेश / O R D E R

u/s 147 r.w.s 144. b) The Ld. AO erred in proceeding with the reassessment without issuance of notice u/s.143(2) of the Act. c) The Ld. AO reopening the assessment merely based on Investigation Wing, is bad in law. d) The Ld. AO erred in reopening the assessment based on suspicion / surmise / borrowed satisfaction that appellant had traded on penny

MINAL SHROFF,RS PURAM TAMILNADU vs. ITO, NON CORP WARD -2(3), COIMBATORE

In the result, appeal filed by the assessee is allowed

penny-\nstock to claim bogus LTCG. Thus we find that there is absolutely no\nrelevant details available in the reasons recorded to form such adverse\nconclusion; and in the light of the same, the initiation of proceedings u/s.\n147 of the Act by the AO cannot be held to be valid and justified in law.\n18. Furthermore, a perusal

KAMLESH SHANTILAL JAIN,CHENNAI vs. ACIT, CHENNAI

In the result, appeal filed by assessee is allowed

Bench: Shri V.Durga Rao & Shri G.Manjunatha

penny stock and share price was rigged in collusion with certain parties and accordingly, made additions towards entire sale consideration received from sale of M/s. PS IT Infra & Services Ltd., as unexplained cash credits and brought to tax u/s. 68 of the Act. 8. The assessee carried the matter in appeal before learned CIT(A) but could not succeed

NEELARAJ VINOTH,PERAMBALUR vs. ACIT, CC-2, , TRICHY

In the result, the appeal of the revenue is dismissed and the CO filed by the assessee is dismissed

Bench: Shri George George K, Hon’Ble & Shri S.R. Raghunatha, Hon’Bleआयकर अपील सं./Ita No.: 1982/Chny/2024 & C.O.No. 60/Chny/2024 िनधा"रण वष" / Assessment Year: 2017-18 Assistant Commissioner Of Neelaraj Vinoth, Income Tax, V. 274-C, Thuraiyur Road, Central Circle -2, Perambalur – 621 212, Trichy. Tamilnadu. [Pan: Ajupv-3588-M] (अपीलाथ"/Appellant) (Respondent/Cross Objector) आयकर अपील सं./Ita No.: 2119/Chny/2024 िनधा"रण वष" / Assessment Year: 2017-18 Neelaraj Vinoth, Assistant Commissioner Of 274-C, Thuraiyur Road, V. Income Tax, Perambalur – 621 212, Central Circle -2, Tamilnadu. Trichy. [Pan: Ajupv-3588-M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

147 of the Act. It is settled law that reasons as recorded for reopening the :-22-: ITA. No: 1982 & 2119/Chny/2024 CO No: 60/Chny/2024 reassessment are to be examined on a 'stand-alone' basis. Neither anything can be added to the reasons so recorded nor any thing can be deleted from the reasons so recorded. The Hon'ble Bombay High Court

DCIT, CHENNAI vs. TVH PROPERTY SERVICES INDIA PVT. LTD., CHENNAI

In the result, the appeal the revenue and cross objections filed by the assessee are allowed for statistical purpose

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singh

reassessment proceedings with a speaking order, though the same was raised before him. 3. The CIT(A) has failed to adjudicate on this. 4. The CIT (A) ought to have followed the decision of the Hon’ble Supreme Court in GKN Drive Shaft 259 ITR 19. 5. The CIT (A) has failed to appreciate that the reason recorded

SMT. SANGEETHA BHANDARI (INDIVIDUAL),,CHENNAI vs. ITO, NCW - 6 (3),, CHENNAI

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

Bench: Shri Mahavir Singhand Dr. Dipak P. Ripote

147 of the Act, as the assessment order is without jurisdiction and reassessment is bad in law as the AO failed to comply with the statutory requirements of reassessment. For this, assessee has raised following grounds:- 2. For that the Commissioner of Income Tax (Appeals) failed to appreciate that the order of the Assessing Officer is without jurisdiction

ASSISTANT COMMISSIONER OF INCOME TAX, NUNGAMBAKKAM vs. PAWAN CARGO FORWARDS PVT LTD, CHENNAI

In the result, appeal filed by the revenue is dismissed in terms above and cross objection filed by the assessee become infructuous in terms of our above order

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri S. R. Raghunathaआयकरअपील सं./ Ita No.3116/Chny/2024 (िनधा&रणवष& / Assessment Year: 2013-14) The Asst. Commissioner Of Income Pawan Cargo Forwards Pvt. Ltd., Tax, Vs. 518, Mkn Road, Pawan Imperia, Circle-1(Ltu) Alandur Mkn Road, Chennai. Chennai – 600 016. [Pan: Aaccp 2477P] (अपीलाथ"/Appellant) (""यथ"/Respondent)

stock transactions and additions were made on the findings of the Investigation Wing in the scrip M/s.Wagend Infra Ventures Ltd. wherein the prices of the ITA No.3116/Chny/2024 & C.O No.3/Chny/2025 Pawan Cargo Forwards shares were manipulated for the purpose of giving accommodation entries to claim LTCG by the beneficiaries including the assessee which were primarily on the basis of the statement