SMT. SHEELA AGRAWAL,INDORE vs. ITO-5(5), INDORE

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

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

price of the shares is less than Rs.10. In the case in hand the assessee has purchased the shares @ 125 per share and therefore, at the time of purchase these were not penny stock. Due to subsequent corporate Page 8 of 17 ITA Nos.215 & others Ind/2019 Sheela Agarwal and Ankur Agarwal Page 9 of 17 announcement and development/events the even

SMT. SHEELA AGRAWAL,INDORE vs. ITO-5(5), INDORE

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

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

price of the shares is less than Rs.10. In the case in hand the assessee has purchased the shares @ 125 per share and therefore, at the time of purchase these were not penny stock. Due to subsequent corporate Page 8 of 17 ITA Nos.215 & others Ind/2019 Sheela Agarwal and Ankur Agarwal Page 9 of 17 announcement and development/events the even

SHAILESH KALWADIA (HUF),UJJAIN vs. INCOME TAX OFFICER, BPL-C(91)(1), BHOPAL

The appeal of the assessee is allowed for statistical purpose

Bench: Shri B.M. Biyani & Shri Paresh M Joshi

price of the penny stock company has not been rigged up. The appellant failed to establish that exit providers are not bogus. The appellant grossly failed to prove that the statements given by the entry operators are not correct. Further, during the appellate proceeding, the Appellant could not controvert any of the findings made by the AO in the assessment

SHAILESH KALWADIA (HUF) ,UJJAIN vs. INCOME TAX OFFICER BPL-C-(91)(1), UJJAIN

The appeal of the assessee is allowed for statistical purpose

Bench: Shri B.M. Biyani & Shri Paresh M Joshi

price of the penny stock company has not been rigged up. The appellant failed to establish that exit providers are not bogus. The appellant grossly failed to prove that the statements given by the entry operators are not correct. Further, during the appellate proceeding, the Appellant could not controvert any of the findings made by the AO in the assessment

SHRI SURESH KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

transfer form, copy of contract note issued by Anand Rathi Shares and Stock Brokers, copy of form evidencing payment of securities transaction tax on transaction entered in a recognized stock exchange, as submitted by Ld. AR. Needless to mention that those documents are filed before us by way of a Paper Book. 9. It is further submitted that the share

MOHANLAL KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

transfer form, copy of contract note issued by Anand Rathi Shares and Stock Brokers, copy of form evidencing payment of securities transaction tax on transaction entered in a recognized stock exchange, as submitted by Ld. AR. Needless to mention that those documents are filed before us by way of a Paper Book. 9. It is further submitted that the share

RADHESHYAM KHANDELWAL,INDORE vs. ACIT4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

transfer form, copy of contract note issued by Anand Rathi Shares and Stock Brokers, copy of form evidencing payment of securities transaction tax on transaction entered in a recognized stock exchange, as submitted by Ld. AR. Needless to mention that those documents are filed before us by way of a Paper Book. 9. It is further submitted that the share

SMT. RUKMANI KHANDELWAL,INDORE vs. ITO-4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

transfer form, copy of contract note issued by Anand Rathi Shares and Stock Brokers, copy of form evidencing payment of securities transaction tax on transaction entered in a recognized stock exchange, as submitted by Ld. AR. Needless to mention that those documents are filed before us by way of a Paper Book. 9. It is further submitted that the share

SMT. SANDHYA KHANDELWAL,INDORE vs. ITO 4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

transfer form, copy of contract note issued by Anand Rathi Shares and Stock Brokers, copy of form evidencing payment of securities transaction tax on transaction entered in a recognized stock exchange, as submitted by Ld. AR. Needless to mention that those documents are filed before us by way of a Paper Book. 9. It is further submitted that the share

SHRI ANIRUDHA NYATI,INDORE vs. THE ITO-5(1), INDORE

In the result appeals of the assessee(s) namely Kumari Ayushi Nyati (ITA

Bench: Shri Manish Borad& Ms. Madhumita Roy

transferred from Demat account thereby fulfilling all the conditions provided under Section 10(38) of the Act. On the basis of the information available from the third sources including the outcome of Search & Survey action of various brokers of stock exchange across the country and upon the finding of the Investigation Wing about bogus entries and manipulation through penny stock

SHRI ANIRUDHA NYATI,INDORE vs. THE ITO-5(1), INDORE

In the result appeals of the assessee(s) namely Kumari Ayushi Nyati (ITA

Bench: Shri Manish Borad& Ms. Madhumita Roy

transferred from Demat account thereby fulfilling all the conditions provided under Section 10(38) of the Act. On the basis of the information available from the third sources including the outcome of Search & Survey action of various brokers of stock exchange across the country and upon the finding of the Investigation Wing about bogus entries and manipulation through penny stock

NILIMA KOTHARI,INDORE vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSTT. CENTRE, INDORE

In the result appeal of the assessee is allowed as per terms indicated above

Bench: Shri Manish Boradsmt. Neelima Kothari, Income Tax Officer, 601, N.R.K. Villas, Delhi Vs. 22/2 Manoramaganj, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Adnpk7832J Assessee By Shri S.S. Deshpande, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 08.08.2024 Date Of Pronouncement 20.09.2024

price rigging of shares nor there was adverse witness relating to the genuineness of the transaction. No incriminating evidence material was found against the appellant to demonstrate the share transactions as non-genuine. No documents such as copy of the statement under section 132(4) of the Act of any director of Messers Goenka Business and Finance

M/S. BALMUKUND DHANRAJ JHAWAR HUF,SENDHWA vs. THE ITO SENDHWA, SENDHWA

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

transferring the same in the name of the assessee, copy of the Demat Account of the assessee, the copies of 4 M/s Ajay Kumar Balmukund Jhawar-HUF ITA No.244, 249 & 250/Ind/2019 bills in respect of sale of shares, the copy of the bank account of the assessee lying with the Bank of India reflecting the entire sale proceed as received

SMT. APARNA JHAWAR,SENDHWA vs. THE ITO SENDHWA, SENDHWA

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

transferring the same in the name of the assessee, copy of the Demat Account of the assessee, the copies of 4 M/s Ajay Kumar Balmukund Jhawar-HUF ITA No.244, 249 & 250/Ind/2019 bills in respect of sale of shares, the copy of the bank account of the assessee lying with the Bank of India reflecting the entire sale proceed as received

AJAY KUMAR BALMUKUND JHAWAR HUF,SENDHWA vs. ITO SENDHWA, SENDHWA

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

transferring the same in the name of the assessee, copy of the Demat Account of the assessee, the copies of 4 M/s Ajay Kumar Balmukund Jhawar-HUF ITA No.244, 249 & 250/Ind/2019 bills in respect of sale of shares, the copy of the bank account of the assessee lying with the Bank of India reflecting the entire sale proceed as received

THE JCIT RANGE-3, INDORE vs. SHRI AMANDEEP SINGH BHATIA, INDORE

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2009-10 Jcit, Range-3 Shri Amandeep Singh Indore Bhatia बनाम/ 8/5, Bcc House, Manoramaganj, Vs. Indore (Appellant / Revenue) (Respondent / Assessee) Pan: Agopb 3205 E Revenue By Shri Ashish Porwal, Sr. Dr Assessee By Shri Harsh Vijayvargiya, Ar Date Of Hearing 06.02.2023 Date Of Pronouncement 28.04.2023 आदेश / O R D E R

transferred in the D-MAT account of the assessee maintained with Indusind Bank. The AO himself on inner Page No 12 to 14 of the assessment order, reproduced the transactions executed through D-MAT account. Hence, date of purchase of and holding of these shares with the appellant was not in dispute by the AO also The AO disbelieved

SHIVKRIPA DEVCON P LTD,INDORE vs. ITO 5(1), INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2012-13

penny stock and the capital gain declared was held to be accommodation entries. A broker Basant Periwal & Co. (the said broker) through whom these transactions have been effected had appeared and it was evident that the broker had indulged in price manipulation through synchronized and cross deal in scrip of RFL. SEBI had also passed an order regarding irregularities

SMT. SARLA JAIN,KHANDWA vs. ITO WARD 1 KHANDWA, KHANDWA

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Smt. Sarla Jain, Ito, C/O Nakoda Marketing, Ward-1, बनाम/ Bhavani Mata Road, Khandwa Khandwa Vs. (Assessee / Appellant) (Revenue / Respondent) Pan: Abvpj1316J Assessee By Shri Pawan Ved, Advocate Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 31.05.2023 Date Of Pronouncement 24.08.2023

penny stock” and capital gain declared by assessee therefrom as managed or non-genuine. Accordingly, the AO made addition u/s 68 amounting to Rs. 8,46,732/-. Aggrieved by action of AO, the assessee carried matter in first-appeal but could not succeed. Now, the assessee has come in next appeal before us. 4. At the outset, we may briefly