VIJAY RADHESHYAM NYATI HUF,DHAR vs. ITO, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

price abnormally and then provide bogus Long Term Capital Gain entries. 15. Before us Ld. Counsel for the assessee has referred to various judgments of which few was squarely applicable on the facts and issues placed before us. There are so much similar that they also pertains to issue of Long Term Capital Gain from sale of equity shares

SMT. MAMTA NYATI DHAMNOD DISTT. DHAR,DHAMNOD vs. ITO DHAR, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

price abnormally and then provide bogus Long Term Capital Gain entries. 15. Before us Ld. Counsel for the assessee has referred to various judgments of which few was squarely applicable on the facts and issues placed before us. There are so much similar that they also pertains to issue of Long Term Capital Gain from sale of equity shares

MANISH KUMAR RADHESHYAM NYATI ,DHAR vs. ITO, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

price abnormally and then provide bogus Long Term Capital Gain entries. 15. Before us Ld. Counsel for the assessee has referred to various judgments of which few was squarely applicable on the facts and issues placed before us. There are so much similar that they also pertains to issue of Long Term Capital Gain from sale of equity shares

PRITESH JAIN HUF,INDORE vs. ITO 4 (2), INDORE

In the result Ground No.2 of the assessee’s

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

transfer of Long Term Capital assets being equity share in the company carried out through recognized stock exchange and the transaction being chargeable to security transaction tax. On the strength of these facts the assessee has claimed exemption u/s 10(38) of the Act for Long Term Capital Gain from sale of equity shares of M/s Sunrise Asian Limited

SHRI NILESH JAIN HUF,INDORE vs. ITO 4(2), INDORE

In the result Ground No.2 of the assessee’s

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

transfer of Long Term Capital assets being equity share in the company carried out through recognized stock exchange and the transaction being chargeable to security transaction tax. On the strength of these facts the assessee has claimed exemption u/s 10(38) of the Act for Long Term Capital Gain from sale of equity shares of M/s Sunrise Asian Limited

SMT. ANNAPURNA MAHESHWARI,INDORE vs. THE ACIT, 4(1), INDORE

In the result I.T.A.No.315/Ind/2012& I

Bench: Shri Kul Bharat & Shri Manish Borad

capital gain from sale of shares. The Ld.A.O has doubted the genuineness of purchase of IFCI shares which were bought through the broker M/s. Chandravan Bhaichand Muchchala, Mumbai by contract note No.7024 dated 17.10.2006. At that point of time price per equity share of IFCI Ltd was Rs.9.95. However the payment for this purchase of Rs.1,19,530/- was made

SMT. ANNAPURNA MAHESHWARI,INDORE vs. THE ITO-4(1), INDORE

In the result I.T.A.No.315/Ind/2012& I

Bench: Shri Kul Bharat & Shri Manish Borad

capital gain from sale of shares. The Ld.A.O has doubted the genuineness of purchase of IFCI shares which were bought through the broker M/s. Chandravan Bhaichand Muchchala, Mumbai by contract note No.7024 dated 17.10.2006. At that point of time price per equity share of IFCI Ltd was Rs.9.95. However the payment for this purchase of Rs.1,19,530/- was made

SHRI PRADEEP MAHESHWARI HUF,INDORE vs. THE ACIT 3(1), INDORE

In the result I.T.A.No.315/Ind/2012& I

Bench: Shri Kul Bharat & Shri Manish Borad

capital gain from sale of shares. The Ld.A.O has doubted the genuineness of purchase of IFCI shares which were bought through the broker M/s. Chandravan Bhaichand Muchchala, Mumbai by contract note No.7024 dated 17.10.2006. At that point of time price per equity share of IFCI Ltd was Rs.9.95. However the payment for this purchase of Rs.1,19,530/- was made

SHRI SUSHIL KUMAR BAFNA,UJJAIN vs. THE ITO 1(1), UJJAIN

In the result, the appeal of the assessee is partly allowed

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./ I.T.A. No. 637/Ind/2014 "नधा"रण वष" /Assessment Year: 2010-11

capital gains of Rs. 99,40,150 and added to the income of the assessee. 4. Being, aggrieved the assessee filed an appeal before the ld. CIT (A). The Ld. CIT (A) observed that the assessee has sold the Shri Sushil Kumar Bafna, Ujjain v. ITO-1(1) /I.T.A. No. 637/Ind/2014/A.Y.:10-11 Page 7 of 24 land

THE ACIT, CIRCLE 2(1), INDORE vs. DR. SHRI RAJEEV CHAUDHARY, INDORE

In the result, the appeal of the revenue is allowed and cross objection of the assessee is partly allowed

Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year 2008-09 Pan : Abkpc5729K Assistant Commissioner Of V/S Dr.Rajeev Choudhary Income Tax, 1, Shiv Vilas Palace Circle-2(1), Indore Indore

transfer of shares as a "short-term capital gain". The A 0 took the view that as there were voluminous transactions, the assessee was engaged in share trading and the income was assessable as "business income". This was upheld by the CIT (A). On appeal, HELD dismissing the appeal: (i) The legal principles are well settled viz. that: (a) Whether

SADHU RAM BALANI,INDORE vs. ITO-5(1), INDORE, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanisadhu Ram Balani Ito-5(1) Flat No.B-503, Moti Mahal Indore Apartment 28-A, Sector-C Vs. Scheme No.71, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Abspb5367L Assessee By Shri S.N. Agrawal, Ar Shri Ashish Porwal, Sr. Dr Revenue By Date Of Hearing 04.09.2024 Date Of Pronouncement 24.09.2024

prices at stock exchange of various penny stocks. The AO then examined the assessee by recording his statement on 14.12.2016 and then held that the long term capital gain claimed by the assessee is nothing but unaccounted income of the assessee is introduced to avoid the tax liability. Aggrieved by the said order of the AO the assessee filed

SHRI MANOJ MUNDRA,INDORE vs. PCIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

capital gain arise on transfer of share is exempted u/s 10 (38) of Income Tax Act, 1961. Reply submitted by the assessee is examined with records produced for verification. During the year as per return filed by the assessee he has shown return income at Rs. 11,60,010/- + Agricultural income for Rs. 10,000/_. After taking into consideration

SHRI GOVIND DAS MUNDRA,INDORE vs. PCIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

capital gain arise on transfer of share is exempted u/s 10 (38) of Income Tax Act, 1961. Reply submitted by the assessee is examined with records produced for verification. During the year as per return filed by the assessee he has shown return income at Rs. 11,60,010/- + Agricultural income for Rs. 10,000/_. After taking into consideration

SHRI ADITYA MUNDRA,DEWAS vs. PCIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

capital gain arise on transfer of share is exempted u/s 10 (38) of Income Tax Act, 1961. Reply submitted by the assessee is examined with records produced for verification. During the year as per return filed by the assessee he has shown return income at Rs. 11,60,010/- + Agricultural income for Rs. 10,000/_. After taking into consideration

DHIRENDRA INTERNATIONAL (P) LTD.,NEEMUCH vs. PR. CIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

capital gain arise on transfer of share is exempted u/s 10 (38) of Income Tax Act, 1961. Reply submitted by the assessee is examined with records produced for verification. During the year as per return filed by the assessee he has shown return income at Rs. 11,60,010/- + Agricultural income for Rs. 10,000/_. After taking into consideration

SHRI MANISH MUNDRA,INDORE vs. PCIT UJJAIN, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

capital gain arise on transfer of share is exempted u/s 10 (38) of Income Tax Act, 1961. Reply submitted by the assessee is examined with records produced for verification. During the year as per return filed by the assessee he has shown return income at Rs. 11,60,010/- + Agricultural income for Rs. 10,000/_. After taking into consideration

M/S. CHARITRA GOLD PVT. LTD.,RATLAM vs. THE PR. CIT, UJJAIN

In the result all the appeals of the assessee(s) (i) Shri Aditya

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

capital gain arise on transfer of share is exempted u/s 10 (38) of Income Tax Act, 1961. Reply submitted by the assessee is examined with records produced for verification. During the year as per return filed by the assessee he has shown return income at Rs. 11,60,010/- + Agricultural income for Rs. 10,000/_. After taking into consideration

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

Bench: Shri T.R. Senthil Kumar & Shri B.M. Biyani

Capital Gain which is exempt from tax. The modus operandi adopted by the operators was to make the beneficiary buy some Page 11 of 26 Shri Rupesh Vyas Assessment year 2015-16 shares of a pre-determined Penny stock company controlled by them. These shares are transferred to the beneficiary at a very nominal price