ACIT, NEW DELHI vs. M/S PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

bogus claims of Long Term Capital Gain / Short Term Capital Loss or any other sham transactions. 5. It is reiterated that the above principles have been formulated with the sole objective of reducing litigation and maintaining consistency in approach on the issue of treatment of income derived from transfer of shares and securities. All the relevant provisions

SACHIN KANODIA,NEW DELHI vs. ITO WARD - 42(2), NEW DELHI

Appeal are dismissed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

bogus but brought to tax, gains arising from sale of shares as short term capital gains. This in our considered view, is also not of help as the Revenue in the instant case has come to the conclusive finding which attained finality that the transactions of purchase

SURESH KUMAR AGGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishia Y 2011-12 Appellant Respondent Shri Suresh Kumar Agarwal The Assistant Commissioner Of 154, Deepali Enclave Vs. Income Tax Pitampura Central Circle -25 New Delhi New Delhi Pan :- Abvpk1318H ( Appellant ) ( Respondent ) Date Of Hearing 17-06-2020 Date Of Order 29.06.2020 Present For Assessee Shri Gautam Jain , Advocate Present For Income Tax Department :- Shri Saras Kumar Senior Departmental Representative O R D E R

capital gain, assessee should have obtained the accommodation entry of the purchase of those shares from any of the accommodation entry providers and when the shares are sold the sales should have been taken as a purchase by any of the exit providers. In such circumstances to prove that the assessee has obtained the bogus

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

bogus “Long Term Capital Gain” by purchasing shares of listed companies at elevated price in lieu of equivalent cash amount

UMA SINGAL,NEW DELHI vs. ACIT, CENTRL CIRCLE-3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

bogus “Long Term Capital Gain” by purchasing shares of listed companies at elevated price in lieu of equivalent cash amount

RITU SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

bogus “Long Term Capital Gain” by purchasing shares of listed companies at elevated price in lieu of equivalent cash amount

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

bogus “Long Term Capital Gain” by purchasing shares of listed companies at elevated price in lieu of equivalent cash amount

NEERAJ SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

bogus “Long Term Capital Gain” by purchasing shares of listed companies at elevated price in lieu of equivalent cash amount

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

bogus “Long Term Capital Gain” by purchasing shares of listed companies at elevated price in lieu of equivalent cash amount

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk