RAJ GOPAL AGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 19, NEW DELHI

search & seizure and survey operations under section 132/133A of the Income Tax Act, 1961 (hereinafter called ‘the Act’) were conducted on 8.7.2015 and subsequent dates in the case of assessee along with the other case of the M/s KR Pulp & Papers Ltd Group at various residential and business premises. In response to notice issued u/s 153A of the Income

KUMAR AGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 19 , NEW DELHI

search & seizure and survey operations under section 132/133A of the Income Tax Act, 1961 (hereinafter called ‘the Act’) were conducted on 8.7.2015 and subsequent dates in the case of assessee along with the other case of the M/s KR Pulp & Papers Ltd Group at various residential and business premises. In response to notice issued u/s 153A of the Income

MAMTA AGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE-19, NEW DELHI

search & seizure and survey operations under section 132/133A of the Income Tax Act, 1961 (hereinafter called ‘the Act’) were conducted on 8.7.2015 and subsequent dates in the case of assessee along with the other case of the M/s KR Pulp & Papers Ltd Group at various residential and business premises. In response to notice issued u/s 153A of the Income

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

gains or short- term capital loss by various beneficiaries. Extensive investigation including search and seizure, survey action on entry providers

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

Capital Gain was nothing but a form of accommodation entry obtained with the help of known accommodation entry operator, Sh. R. K. Kedia. He further observed that on the basis of above information a search& seizure

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

Capital Gain was nothing but a form of accommodation entry obtained with the help of known accommodation entry operator, Sh. R. K. Kedia. He further observed that on the basis of above information a search& seizure

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

Capital Gain was nothing but a form of accommodation entry obtained with the help of known accommodation entry operator, Sh. R. K. Kedia. He further observed that on the basis of above information a search& seizure

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

Capital Gain was nothing but a form of accommodation entry obtained with the help of known accommodation entry operator, Sh. R. K. Kedia. He further observed that on the basis of above information a search& seizure

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

Capital Gain was nothing but a form of accommodation entry obtained with the help of known accommodation entry operator, Sh. R. K. Kedia. He further observed that on the basis of above information a search& seizure

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

Capital Gain was nothing but a form of accommodation entry obtained with the help of known accommodation entry operator, Sh. R. K. Kedia. He further observed that on the basis of above information a search& seizure

B.R. ASSOCIATES PVT. LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed

Bench: : Shri Amit Shukla & Shri L.P. Sahu

search and seizure operation in the case of entry operator Aseem Kumar Gupta & Group of which assessee was also one of beneficiary. In his statement recorded u/s 132(4) of the Act of Sh. I.C. Jindal on 26/27.03.2010 was confronted to Sh. Aseem Kumar Gupta. Sh. Aseem Kumar Gupta has admitted to have arranged entries of bogus capital gain

B.R. ASSOCIATES PVT. LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed

Bench: : Shri Amit Shukla & Shri L.P. Sahu

search and seizure operation in the case of entry operator Aseem Kumar Gupta & Group of which assessee was also one of beneficiary. In his statement recorded u/s 132(4) of the Act of Sh. I.C. Jindal on 26/27.03.2010 was confronted to Sh. Aseem Kumar Gupta. Sh. Aseem Kumar Gupta has admitted to have arranged entries of bogus capital gain

B.R. ASSOCIATES PVT. LTD.,,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed

Bench: : Shri Amit Shukla & Shri L.P. Sahu

search and seizure operation in the case of entry operator Aseem Kumar Gupta & Group of which assessee was also one of beneficiary. In his statement recorded u/s 132(4) of the Act of Sh. I.C. Jindal on 26/27.03.2010 was confronted to Sh. Aseem Kumar Gupta. Sh. Aseem Kumar Gupta has admitted to have arranged entries of bogus capital gain

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

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

Capital Gains on sheer presumptive basis. (3) That the order dated 29-12-2017 passed u/s 250 of the Act by the Ld. Commissioner of Income-tax (Appeals) 23, New Delhi is against law and facts on the file in as much as he was not justified to uphold the action of the Assessing Officer in making an addition

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

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

Capital Gains on sheer presumptive basis. (3) That the order dated 29-12-2017 passed u/s 250 of the Act by the Ld. Commissioner of Income-tax (Appeals) 23, New Delhi is against law and facts on the file in as much as he was not justified to uphold the action of the Assessing Officer in making an addition

DCIT, NEW DELHI vs. M/S. GDA FINVEST TRADE (P) LTD., NEW DELHI

Bench: Shri H.S. Sidhu & Shri O.P. Kant

Capital Gains’ and not under the head ‘Income from Business income’ whereas the amount of addition was Rs. 95,92,653/-. 4. The appellant craves leave to add, amend an\y / all the grounds of appeal before or during the course of hearing of the appeal.” 3. The grounds raised in the Assessee’s Cross Objection read as under

COMMISSIONER OF INCOME TAX vs. ASHA KEDAR NATH GUPTA

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

capital gains. (c). All the witnesses whose statements were recorded by the Assessing Officer in the course of the search proceedings were retracted for valid reasons and, therefore, no reliance can be placed on them. (d). The findings recorded by the Tribunal in para 2.15 of its order in the case of Kedarnath Gupta, particularly the finding that the vendors

COMMISSIONER OF INCOME TAX vs. ROHIT KEDAR NATH GUPTA

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

capital gains. (c). All the witnesses whose statements were recorded by the Assessing Officer in the course of the search proceedings were retracted for valid reasons and, therefore, no reliance can be placed on them. (d). The findings recorded by the Tribunal in para 2.15 of its order in the case of Kedarnath Gupta, particularly the finding that the vendors