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32 results for “capital gains”+ Bogus Purchasesclear

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Mumbai1,680 Delhi812 Kolkata498 Jaipur372 Chennai317 Ahmedabad296 Bangalore184 Indore124 Pune111 Karnataka109 Chandigarh107 Hyderabad99 Surat71 Cochin61 Nagpur49 Lucknow47 Calcutta45 Raipur43 Guwahati32 Cuttack32 Rajkot29 Ranchi21 Jodhpur17 Amritsar12 Visakhapatnam10 Agra9 Patna8 Telangana6 Varanasi5 Panaji2 Orissa2 Jabalpur2 SC2 ASHOK BHAN DALVEER BHANDARI1 Dehradun1 Gauhati1

Key Topics

Section 6822 Section 153A17 Section 143(3)15 Section 14815 Section 25015 Addition to Income15 Section 14710 Section 1436 Unexplained Cash Credit5

SAROJ DEVI SAND,SILCHAR vs. INCOEM TAX OFFICER, WARD-3, SILCHAR

In the result, both the appeals filed by the assessees in ITA

ITA 51/GTY/2020[2015-16]Status: DisposedITAT Guwahati23 Dec 2022AY 2015-16

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 143(3)Section 250Section 68

bogus long-term capital gain to various beneficiaries. The assessee primarily purchased 10,000 equity shares of M/s. Swift IT Infrastructure

INDER CHAND SAND,SILCHAR vs. INCOME TAX OFFICER, WARD-2, SILCHAR

In the result, both the appeals filed by the assessees in ITA

ITA 49/GTY/2020[2015-16]Status: DisposedITAT Guwahati23 Dec 2022AY 2015-16

Showing 1–20 of 32 · Page 1 of 2

Natural Justice5

Reopening of Assessment5

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 143(3)Section 250Section 68

bogus long-term capital gain to various beneficiaries. The assessee primarily purchased 10,000 equity shares of M/s. Swift IT Infrastructure

DCIT, CIRCLE-1, DIBRUGARH vs. BAJRANG LAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 52/GTY/2023[2013-14]Status: DisposedITAT Guwahati01 Sept 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE-1, DIBRUGARH vs. BACHH RAJ BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 53/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE-1, DIBRUGARH vs. BACHH RAJ BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 54/GTY/2023[2015-16]Status: DisposedITAT Guwahati01 Sept 2023AY 2015-16

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. HANS RAJ BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 55/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. HANS RAJ BAMALWA (HUF), DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 56/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. USHA BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 57/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. MEENAKSHI BAMALWA SONI, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 58/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE-1, DIBRUGARH vs. MADAN LAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 63/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

DCIT, CIRCLE-1, DIBRUGARH vs. BAJRANG LAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 51/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE-1, DIBRUGARH vs. RAVI BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 62/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE-1, DIBRUGARH vs. VINOD BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 66/GTY/2023[2013-14]Status: DisposedITAT Guwahati01 Sept 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. VISHAL BAMALWA , DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 60/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE-1, DIBRUGARH vs. SHEETAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 64/GTY/2023[2013-14]Status: DisposedITAT Guwahati01 Sept 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE-1, DIBRUGARH vs. PRAMOD KUMAR BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 65/GTY/2023[2013-14]Status: DisposedITAT Guwahati01 Sept 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE-1, DIBRUGARH vs. VINAY BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 61/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. BHAGWATI DEVII BAMALWA , DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 59/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

bogus entries of long-term capital gains, which is exempt from tax. The modus operandi by the operators was to make the beneficiary by shares of a pre-determined penny stock company controlled by them or their group. These shares are transferred to the beneficiary at a very marginal price mostly online by way of preferential allotment or off-line

AJAY KUMAR TANTIA,KOLKATA vs. INCOME TAX OFFICER, WARD-4(1), GUWAHATI

In the result, effective grounds raised by the assessee are partly allowed as per terms indicated hereinabove and other grounds being general in nature need no adjudication

ITA 328/GTY/2019[2014-15]Status: DisposedITAT Guwahati06 Feb 2023AY 2014-15

Bench: Shri Rajpal Yadav, Vice- & Shri Manish Boradi.T.A. No.328/Gty/2019 Assessment Year: 2014-15 Ajay Kumar Tantia, Kolkata.....…..…………....................……….……Appellant 7B, Ground Floor, Kiran Shankar Roy Road, Kolkata-1. [Pan: Abkpt3130B] Vs. Ito, Ward-4(1), Guwahati ……..…............…….......................…..…..Respondent Appearances By: Shri S. P. Bhati, Fca, Appeared On Behalf Of The Appellant. Shri Amit Kumar Pandey, Jcit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 31, 2023 Date Of Pronouncing The Order : February 06, 2023 Order Per Manish Borad: This Appeal At The Instance Of The Assessee Pertaining To The Assessment Year (In Short “Ay”) 2014-15 Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals), Guwahati-2, Guwahati [In Short Ld. “Cit(A)”] Dated 31.05.2019 Which Is Arising Out Of The Order U/S 143(3) Of The Assessing Officer Dated 23.12.2016. 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

Section 143(2)Section 143(3)Section 68

bogus long-term capital gain and cited various judgments and confirmed the action of the Assessing Officer. I.T.A. No.328/GTY/2019 Assessment Year: 2014-15 Ajay Kumar Tantia 6. Aggrieved, the assessee is now in appeal before this Tribunal. The ld. counsel for the assessee referring to main grounds as well as additional ground stated that the short-term capital loss

SMT. SANTOSH BAMALWA,DIBRUGARH vs. ACIT, CIRCLE-1, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 348/GTY/2025[2011-12]Status: DisposedITAT Guwahati13 Mar 2026AY 2011-12

Bench: Shri Duvvuru Rl Reddy & Shri Rajesh Kumarsmt. Santosh Bamalwa Acit, Circle-1 C/O A.K. Varma, Ground Floor, Aayakar Bhawan, 2Nd Floor, Vs. Mahalaya Road, Dibrugarh- Milan Nagar, Dibrugarh-786003, 786001, Assam Assam (Appellant) (Respondent) Pan No. Aedpb9900P Assessee By : Shri S.K. Tulsiyan, Advocate Revenue By : Shri Santosh Kumar Karnani, Addl. Cit Date Of Hearing: 09/03/2026 Date Of Pronouncement: 13/03/2026 O R D E R

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri Santosh Kumar Karnani, Addl

Section 10(38)Section 143(1)Section 143(3)Section 147Section 148Section 68

bogus long term capital gain through the broker/operators who were engaged in providing accommodation entries. Therefore the ld. DR submitted that the appeal of the assessee may be dismissed by upholding the order of the Assessing Officer. 7. We have considered the rival submissions and find that the case of the assessee has been reopened under Section 147/148