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21 results for “disallowance”+ Penny Stockclear

Sorted by relevance

Mumbai461Delhi188Kolkata170Chennai155Jaipur101Ahmedabad94Indore67Chandigarh56Calcutta47Pune35Guwahati28Bangalore23Lucknow23Hyderabad21Cuttack21Surat17Amritsar10Ranchi10Nagpur9Rajkot9Visakhapatnam6Raipur5Jodhpur3Telangana3Agra2Panaji1Orissa1Jabalpur1Gauhati1Patna1

Key Topics

Section 10(38)34Addition to Income17Section 6815Deduction13Penny Stock12Exemption11Section 143(2)10Section 271(1)(c)8Section 143(1)8Penalty

ANIRUDH VENKATA RAGI ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, appeal of the assessee is dismissed

ITA 352/HYD/2019[2015-16]Status: DisposedITAT Hyderabad21 Nov 2023AY 2015-16

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Chary

For Appellant: Shri S. Rama Rao, ARFor Respondent: Ms. Sheetal Sarin, DR
Section 10(38)Section 143(3)

Stock Exchange (BSE), with the basic object to convert black money into white, without payment of any taxes thereon. She further recorded that the Securities and Exchange Board of India (SEBI) identified some manipulators of share market by considering inputs from the income tax department and its own surveillance system. 3. Learned Assessing Officer, therefore, basing on the investigation carried

NAGESWARA RAO PINNETI,HYDERABAD vs. ACIT CENTRAL CIRCLE-1(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Showing 1–20 of 21 · Page 1 of 2

8
Long Term Capital Gains7
Section 143(3)6
ITA 89/HYD/2022[2014-15]Status: DisposedITAT Hyderabad21 Nov 2023AY 2014-15

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.A. Sai Prasad, CA (S.No.1 to 6), Shri P. Vinod, Advocate (S.No.7)For Respondent: Shri CH V Gopinath, CIT(DR)
Section 143(1)Section 143(2)Section 271(1)(c)Section 68

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

GOVINDA KUMAR AGARWAL,HYDEABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

ITA 125/HYD/2020[2015-16]Status: DisposedITAT Hyderabad21 Nov 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.A. Sai Prasad, CA (S.No.1 to 6), Shri P. Vinod, Advocate (S.No.7)For Respondent: Shri CH V Gopinath, CIT(DR)
Section 143(1)Section 143(2)Section 271(1)(c)Section 68

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

SUMEET KUMAR AGARWAL ,SECUNDERABAD vs. INCOME TAX OFFICER, WARD-10(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

ITA 1942/HYD/2018[2015-16]Status: DisposedITAT Hyderabad21 Nov 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.A. Sai Prasad, CA (S.No.1 to 6), Shri P. Vinod, Advocate (S.No.7)For Respondent: Shri CH V Gopinath, CIT(DR)
Section 143(1)Section 143(2)Section 271(1)(c)Section 68

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

VIKAS KUMAR AGARWAL ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

ITA 705/HYD/2019[2015-16]Status: DisposedITAT Hyderabad21 Nov 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.A. Sai Prasad, CA (S.No.1 to 6), Shri P. Vinod, Advocate (S.No.7)For Respondent: Shri CH V Gopinath, CIT(DR)
Section 143(1)Section 143(2)Section 271(1)(c)Section 68

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

ABHISHEK AGARWAL,HYDERABAD vs. INCOME TAX OFFICER, WARD-16(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

ITA 167/HYD/2018[2014-15]Status: DisposedITAT Hyderabad21 Nov 2023AY 2014-15

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.A. Sai Prasad, CA (S.No.1 to 6), Shri P. Vinod, Advocate (S.No.7)For Respondent: Shri CH V Gopinath, CIT(DR)
Section 143(1)Section 143(2)Section 271(1)(c)Section 68

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

GOVIND KUMAR AGARWAL ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(5), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

ITA 1940/HYD/2018[2014-15]Status: DisposedITAT Hyderabad21 Nov 2023AY 2014-15

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.A. Sai Prasad, CA (S.No.1 to 6), Shri P. Vinod, Advocate (S.No.7)For Respondent: Shri CH V Gopinath, CIT(DR)
Section 143(1)Section 143(2)Section 271(1)(c)Section 68

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

SAROJ AGARWAL ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

ITA 704/HYD/2019[2015-16]Status: DisposedITAT Hyderabad21 Nov 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.A. Sai Prasad, CA (S.No.1 to 6), Shri P. Vinod, Advocate (S.No.7)For Respondent: Shri CH V Gopinath, CIT(DR)
Section 143(1)Section 143(2)Section 271(1)(c)Section 68

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

NARESH KUMAR AGARWAL ,SECUNDERABAD vs. INCOME TAX OFFICER, WARD-10(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

ITA 1941/HYD/2018[2015-16]Status: DisposedITAT Hyderabad21 Nov 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.A. Sai Prasad, CA (S.No.1 to 6), Shri P. Vinod, Advocate (S.No.7)For Respondent: Shri CH V Gopinath, CIT(DR)
Section 143(1)Section 143(2)Section 271(1)(c)Section 68

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

DEEPAK NAGORI ,HYDERABAD vs. INCOME TAX OFFICER, WARD-8(3), HYDERABAD

In the result, appeal filed by the assessee is dismissed

ITA 1713/HYD/2018[2012-13]Status: DisposedITAT Hyderabad12 Dec 2023AY 2012-13

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year:2012-13 Shri Deepak Nagori Vs. Income Tax Officer Hyderabad Ward 8(3) Hyderabad (Appellant) (Respondent) Pan:Abspn3300M Assessee By: None Revenue By: Shri K. Madhusudan, Cit(Dr) Date Of Hearing: 07/12/2023 Date Of Pronouncement: 12/12/2023 Order Per Laliet Kumar, J.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 28.05.2018 Of The Learned Cit (A)-2, Hyderabad Relating To A.Y.2012-13. 2. The Grounds Raised By The Assessee Reads As Under: “1. That The Appellant Is An Individual & Filed His Income Tax Return (Tr) For Fy 2011-12 By Declaring Income Of Rs.5,82,686/-. The Itr Includes Long Term Capital Gains Of Rs.23,08,721/- & Claimed Exemption Under Section 10(38) Of It Act 1961. Notices Issued Under Section 148 & Notice Under Section 142(1) Of The Income Tax Act, 1961. The Ld. Ao Passed The Assessment Order Under Section 143(3) R.W.S. 147 Of The I.T Act, 1961 & The Same Was Upheld By Ld. Cit(A).

For Appellant: NoneFor Respondent: Shri K. Madhusudan, CIT(DR)
Section 10(38)Section 142(1)Section 143(3)Section 148Section 69

penny stock company and as a result thereof, the assessee got 50,000 shares and the same were credited into the Demat account maintained by M/s. HSE Securities Ltd. After the said 50000 shares of M/s. Kailash Auto Finance Ltd, the assessee sold 25000 shares through HSE Securities Ltd in the A.Y 2015-16 for a consideration of Rs.8

ARUN KUMAR GOYAL ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD

Appeals are allowed in above terms

ITA 458/HYD/2020[2016-17]Status: DisposedITAT Hyderabad20 Apr 2021AY 2016-17

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri P.Murali Mohana Rao, ARFor Respondent: Shri Sibendu Moharana, DR
Section 10(38)Section 143(3)

Penny Stocks', unrealistic circumstances as to the transaction, purchase price, sudden increase in share price of M/s.Kailash Auto Finance Ltd, which is not commensurate with financial results, unrealistic returns, the role of operators in arranging such transactions in detail. The findings of the AO are backed by results of sustained investigation, which are brought out in the order. 6.1 During

TARUN KUMAR GOYAL ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1)2, HYDERABAD

Appeals are allowed in above terms

ITA 457/HYD/2020[2016-17]Status: DisposedITAT Hyderabad20 Apr 2021AY 2016-17

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri P.Murali Mohana Rao, ARFor Respondent: Shri Sibendu Moharana, DR
Section 10(38)Section 143(3)

Penny Stocks', unrealistic circumstances as to the transaction, purchase price, sudden increase in share price of M/s.Kailash Auto Finance Ltd, which is not commensurate with financial results, unrealistic returns, the role of operators in arranging such transactions in detail. The findings of the AO are backed by results of sustained investigation, which are brought out in the order. 6.1 During

TARUN KUMAR GOYAL ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD

Appeals are allowed in above terms

ITA 456/HYD/2020[2014-15]Status: DisposedITAT Hyderabad20 Apr 2021AY 2014-15

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri P.Murali Mohana Rao, ARFor Respondent: Shri Sibendu Moharana, DR
Section 10(38)Section 143(3)

Penny Stocks', unrealistic circumstances as to the transaction, purchase price, sudden increase in share price of M/s.Kailash Auto Finance Ltd, which is not commensurate with financial results, unrealistic returns, the role of operators in arranging such transactions in detail. The findings of the AO are backed by results of sustained investigation, which are brought out in the order. 6.1 During

VENU GOPAL KARWA,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), HYDERABAD

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 174/HYD/2019[2015-16]Status: DisposedITAT Hyderabad31 Jul 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2015-16 Shri Venu Gopal Karwa Vs. Dy. C. I. T. Karimnagar Central Circle 1(2) Pan:Aavpk2698B Hyderabad (Appellant) (Respondent) Assessee By: Shri V Guna Sekhar Reddy, Ca Revenue By: Shri Jeevan Lal Lavidiya, Cit (Dr) Date Of Hearing: 25/07/2023 Date Of Pronouncement: 31/07/2023 Order Per R.K. Panda, Vice-This Appeal Filed By The Assessee Is Directed Against The Order Dated 30.10.2018 Of The Learned Cit (A)-11, Hyderabad, Relating To A.Y.2015-16. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & Derives Income From Salary, Hose Property & Other Sources. He Filed His Return Of Income On 6.3.2016 Belatedly Declaring Taxable Income At Rs.47,71,060/-. The Return Was Selected For Complete Scrutiny Under Cass. Accordingly Statutory Notices U/S 143(2) & 142(1) Were Issued & Served On The Assessee To Which The Ar Of The Assessee Appeared From Time To Time & Furnished The Requisite Details. One Of The Cass Reasons Page 1 Of 14

For Appellant: Shri V Guna Sekhar Reddy, CAFor Respondent: Shri Jeevan Lal Lavidiya, CIT (DR)
Section 10(38)Section 143(2)

penny stocks cannot necessarily mean that all transactions are bogus specially when assessee maintained al! documentary evidences to discharge onus of the genuineness of the transaction. 2. The CIT (Appeals) is not justifiable on sustaining the addition of Rs. 45,084/ as brokerage paid u/s 69C based on general confession made by Page

ISHOO NARANG,HYDERABAD vs. DCIT CIRCLE -2(1), HYDERABAD

In the result, appeal filed by the assessee is allowed

ITA 450/HYD/2022[2014-15]Status: DisposedITAT Hyderabad25 Sept 2024AY 2014-15

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.450/Hyd/2022 & S.A. No.1/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2014-15) Ishoo Narang Vs. Dy. Cit Hyderabad Circle 2(1) Pan:Aaupn9082B Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Smt. Th Vijaya Lakshmi, Cit (Dr) सुनवाई की तारीख/Date Of Hearing: 19/08/2024 घोषणा की तारीख/Pronouncement: 25/09/2024 आदेश/Order Per Manjunatha, G. A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 15/07/2022 Of The Learned Cit (A)-Nfac Delhi, Relating To A.Y.2014-15. 2. The Assessee Has Raised The Following Grounds: “1. The Ld. Cit(A) Erred In Dismissing The Appeal. 2. The Ld.Cit(A) Erred In Holding That Al The Mandatory Preconditions Before Reopening Of Assessment U/S 147 Of The Act Were Duly Complied & Met With By The A.O.

For Appellant: Shri P Murali Mohan Rao, CAFor Respondent: : Smt. TH Vijaya Lakshmi, CIT (DR)
Section 10(38)Section 133ASection 147Section 68

Penny Stocks used for the purpose clearly indicates that its quoted price at the peak was the result of rigging. iii) That such schemes are prevalent for converting black money into white is common knowledge, independently confirmed by SEBI. iv) The assessee is one such beneficiary who has taken entry of LTCG amounting to Rs. Rs.6

PRIYA DARSHINI KIMTEE,HYDERABAD vs. INCOME TAX OFFICER, WARD-5(1), HYDERABAD

In the result, all the appeals filed by the respective assessees are dismissed

ITA 901/HYD/2019[2015-16]Status: DisposedITAT Hyderabad29 Nov 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarappeal In Ita Assessee Revenue A.Y No 1707/Hyd/2019 Shri Ravindra Kumar A.C.I.T ( Ods ) 2015-16 (Huf) Agarwal, Ward 9 (2) Hyderabad Hyderabad Pan:Aaihr4527D 901/Hyd/2019 Smt. Priya Darshini Income Tax 2015-16 Kimtee Officer Hyderabad Ward-5(1) Pan:Acfpk7087G Hyderabad 1706/Hyd/2019 Smt. Tulsidevi Agarwal, A.C.I.T ( Ods ) 2015-16 Hyderabad Ward 9 (2) Hyderabad Pan:Acppb6958H Assessee By: Shri K.C. Devadas, Ca Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.C. Devadas, CAFor Respondent: Shri CH V Gopinath, CIT(DR)
Section 10(38)

penny stocks, the price band had been reduced to the lowest band of 2 per cent. Out of these scrips, ad- interim orders have also been passed by SEBI in cases of 11 scripts, giving a finding that price in these scrips was rigged. Details of such orders are available on the website of SEBI. Since the shares are under

RAVINDRA KUMAR AGARWAL ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX(OSD), WARD-9(2), HYDERABAD

In the result, all the appeals filed by the respective assessees are dismissed

ITA 1707/HYD/2019[2015-16]Status: DisposedITAT Hyderabad29 Nov 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarappeal In Ita Assessee Revenue A.Y No 1707/Hyd/2019 Shri Ravindra Kumar A.C.I.T ( Ods ) 2015-16 (Huf) Agarwal, Ward 9 (2) Hyderabad Hyderabad Pan:Aaihr4527D 901/Hyd/2019 Smt. Priya Darshini Income Tax 2015-16 Kimtee Officer Hyderabad Ward-5(1) Pan:Acfpk7087G Hyderabad 1706/Hyd/2019 Smt. Tulsidevi Agarwal, A.C.I.T ( Ods ) 2015-16 Hyderabad Ward 9 (2) Hyderabad Pan:Acppb6958H Assessee By: Shri K.C. Devadas, Ca Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.C. Devadas, CAFor Respondent: Shri CH V Gopinath, CIT(DR)
Section 10(38)

penny stocks, the price band had been reduced to the lowest band of 2 per cent. Out of these scrips, ad- interim orders have also been passed by SEBI in cases of 11 scripts, giving a finding that price in these scrips was rigged. Details of such orders are available on the website of SEBI. Since the shares are under

TULSIDEVI AGARWAL,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX (OSD), WARD-9(2), HYDERABAD

In the result, all the appeals filed by the respective assessees are dismissed

ITA 1706/HYD/2019[2015-16]Status: DisposedITAT Hyderabad29 Nov 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarappeal In Ita Assessee Revenue A.Y No 1707/Hyd/2019 Shri Ravindra Kumar A.C.I.T ( Ods ) 2015-16 (Huf) Agarwal, Ward 9 (2) Hyderabad Hyderabad Pan:Aaihr4527D 901/Hyd/2019 Smt. Priya Darshini Income Tax 2015-16 Kimtee Officer Hyderabad Ward-5(1) Pan:Acfpk7087G Hyderabad 1706/Hyd/2019 Smt. Tulsidevi Agarwal, A.C.I.T ( Ods ) 2015-16 Hyderabad Ward 9 (2) Hyderabad Pan:Acppb6958H Assessee By: Shri K.C. Devadas, Ca Revenue By: Shri Ch V Gopinath, Cit(Dr)

For Appellant: Shri K.C. Devadas, CAFor Respondent: Shri CH V Gopinath, CIT(DR)
Section 10(38)

penny stocks, the price band had been reduced to the lowest band of 2 per cent. Out of these scrips, ad- interim orders have also been passed by SEBI in cases of 11 scripts, giving a finding that price in these scrips was rigged. Details of such orders are available on the website of SEBI. Since the shares are under

SUJIT AGARWAL ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, the appeal of the assessee in ITA No

ITA 369/HYD/2019[2014-15]Status: DisposedITAT Hyderabad22 Nov 2023AY 2014-15

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2014-15 Shri Sujit Agarwal Vs. Dy. C. I. T. Hyderabad Central Circle 2(2) Pan:Aclpa3197P Hyderabad (Appellant) (Respondent) Assessee By: Shri S. Rama Rao, Advocate Revenue By: Shri Ch V Gopinath, Cit(Dr) Date Of Hearing: 09/11/2023 Date Of Pronouncement: 22/11/2023 Order Per R.K. Panda, Vice-This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.01.2019 Of The Learned Cit (A)-12, Hyderabad Relating To A.Y.2014-15. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & The Managing Director Of The Company, M/S. Sawaria Pipes Pvt Ltd. He Filed His Original Return Of Income For The Impugned A.Y On 30.12.2014 Declaring Total Income Of Rs.20,13,600/- & Agricultural Income Of Rs.70,200/-. A Search & Seizure Operation U/S 132 Of The I.T. Act Was Conducted In The Case Of The Assessee On 12.01.2016. In Response To Notice U/S 153A Of The Act Issued On 6.9.2016, The Assessee Filed His Return

For Appellant: Shri S. Rama Rao, AdvocateFor Respondent: Shri CH V Gopinath, CIT(DR)
Section 10(38)Section 132Section 143(2)Section 153ASection 68

penny stock of M/s. NCL Research and Financial Services Ltd, the details of which are as under: Name of the Amount invested in shares of Amount received on sales company M/s. NCL Research on As per ROI for the As per 30.04.2012 & 09.05.2012 A.Y 2014-15 Investigation report received from Directorate of Investigation, Kolkata

JITENDER KUMAR GUPTA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-7(1), HYDERABAD

In the result, assessee’s appeal is treated as allowed for statistical purposes”

ITA 1882/HYD/2019[2011-12]Status: DisposedITAT Hyderabad27 May 2021AY 2011-12

Bench: Smt. P. Madhavi Deviassessment Year: 2011-12

For Appellant: Sri Siddharth MantriFor Respondent: Smt. Kanika Agarwal,DR
Section 10(38)Section 148Section 69Section 69B

penny stocks were treated as unexplained investment u/s 69B of the Act accordingly added to the income returned by the assessee. Aggrieved, the assessee preferred an appeal before the CIT (A) who confirmed the orders of the Assessing Officer and the assessee is in second appeal before the Tribunal by raising the following grounds of appeal: “1. The order