SHRI ASHNUTH GOYAL,JAIPUR vs. ACIT, WARD -1(3), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Him. Thus, The Addition Of Rs. 30,04,864/- So Uphold Deserves To Be Deleted. Shri Ashnuth Goyal Vs Acit, Ward 1(3), Jaipur

short period does not mean that the transaction is “bogus” if the documentation and evidences cannot be faulted. Surya Prakash Toshniwal HUF vs ITO (ITAT Kolkata) (Caselaws Paper Book Pages 85-93) SHRI ASHNUTH GOYAL VS ACIT, WARD 1(3), JAIPUR Bogus capital gains from penny stocks: Long Term capital gains claimed exempt u/s 10(38) cannot be treated

SHRI ARNAV GOYAL,JAIPUR vs. ITO, WARD-2(4), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

short period does not mean that the transaction is “bogus” if the documentation and evidences cannot be faulted. Surya Prakash Toshniwal HUF vs ITO (ITAT Kolkata) (Caselaws PB Pages 85-93) Bogus capital gains from penny stocks: Long Term capital gains claimed exempt u/s 10(38) cannot be treated as bogus unexplained income if the paper work is in order

SITA DEVI AGARWAL,JAIPUR vs. ITO, WD-4(1), JAIPUR

In the result, the appeal filed by the assessee is allowed

short term capital gain is running by the operators based on Delhi, Kolkata & Mumbai etc. They proved facility to convert black money in exempted income u/s 10(38) of the IT. Act on commission of 6% by bogus long term capital gain entry. The syndicate of scam operators 8 SMT SITA DEVI AGARWAL VS ITO, WARD 4(1), JAIPUR managed

ACIT, C.C. -4, JAIPUR vs. MAVERICK COMMODITY BROKERS PVT. LTD., JAIPUR

In the result appeals of the revenue are dismissed

short term capital gain of Rs. 3,05,14,396/- on sale of share of M/s. Midland Poly and Rs. 3,20,61,825/- on sale of shares of M/s. Sulabh Engineering. Both these scrips were purchased on line and sold online through registered share broker by various contract notes. Due STT was also paid by at purchase and sale

ACIT, CC-4, JAIPUR vs. SMT. SUNITA AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed

short term capital gain of Rs. 3,05,14,396/- on sale of share of M/s. Midland Poly and Rs. 3,20,61,825/- on sale of shares of M/s. Sulabh Engineering. Both these scrips were purchased on line and sold online through registered share broker by various contract notes. Due STT was also paid by at purchase and sale

ACIT, CC-4, , JAIPUR vs. SHRI ANSHUL JAIN, JAIPUR

In the result appeals of the revenue are dismissed

short term capital gain of Rs. 3,05,14,396/- on sale of share of M/s. Midland Poly and Rs. 3,20,61,825/- on sale of shares of M/s. Sulabh Engineering. Both these scrips were purchased on line and sold online through registered share broker by various contract notes. Due STT was also paid by at purchase and sale

ACIT, CC-4, JAIPUR vs. SHRI MUKESH JAIN, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ACIT, CC-4, JAIPUR vs. SMT. SANGEETA MANTRI, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ACIT,CC-4, JAIPUR vs. SHRI RAMESH KUMAR MANTRI, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ACIT, CC-4, JAIPUR vs. SHRI MUKESH JAIN, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ACIT, CC-4, JAIPUR vs. SMT. SUNITA AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ACIT, CC-4, JAIPUR vs. SMT. SUNITA AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed

short term capital gain of Rs. 3,05,14,396/- on sale of share of M/s. Midland Poly and Rs. 3,20,61,825/- on sale of shares of M/s. Sulabh Engineering. Both these scrips were purchased on line and sold online through registered share broker by various contract notes. Due STT was also paid by at purchase and sale

ACIT, CC-4, JAIPUR vs. SHRI MUKUT BEHARI AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ACIT, CC-4, JAIPUR vs. SMT. ASHA JAIN, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ACIT,CC-4, JAIPUR vs. SHRI RAMESH KUMAR MANTRI, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ACIT, CC-4, JAIPUR vs. SHRI MUKUT BEHARI AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed

short term capital gain of Rs. 3,05,14,396/- on sale of share of M/s. Midland Poly and Rs. 3,20,61,825/- on sale of shares of M/s. Sulabh Engineering. Both these scrips were purchased on line and sold online through registered share broker by various contract notes. Due STT was also paid by at purchase and sale

ACIT, CC-4, JAIPUR vs. SHRI MUKUT BEHARI AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed and the cross

bogus and from Penny Stock companies and Commission paid thereon: In the grounds of appeal raised in respect of this issue, department has challenged the order passed by ld.CIT(A) wherein the Long Term capital gain earned/short term capital loss on sharesis held as genuine.The details of addition made in respect of each individual assessee and the respective ground

ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-2, JAIPUR vs. M/S. ANGEL INFRASTRUCTURE PRIVATE LIMITED, JAIPUR

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

purchase and sale and creating artificial ITA 464 & 761/JP/2018_ 53 M/s Angel Infrastructure P Ltd. Vs DCIT short term capital loss was a preconceived design to avoid tax liability on the capital gain arising from sale of shares as well as other income. The assessee instead of transferring the shares to the group concern without any consideration would have requested