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

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

disallowance of sale etc. also suggests that price movements were manipulated. Based on the price pattern has also drawn chart. Based on the said observations he alleged that the scrip has been made specifically for the purpose of providing bogus long term capital gain to beneficiaries. 10. The ld. AO further stated that the SEBI passed an interim order

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

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

disallowance of sale etc. also suggests that price movements were manipulated. Based on the price pattern has also drawn chart. Based on the said observations he alleged that the scrip has been made specifically for the purpose of providing bogus long term capital gain to beneficiaries. 10. The ld. AO further stated that the SEBI passed an interim order

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

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

disallowance of sale etc. also suggests that price movements were manipulated. Based on the price pattern has also drawn chart. Based on the said observations he alleged that the scrip has been made specifically for the purpose of providing bogus long term capital gain to beneficiaries. 10. The ld. AO further stated that the SEBI passed an interim order

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. SMT. ASHA JAIN, JAIPUR

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

disallowance of sale etc. also suggests that price movements were manipulated. Based on the price pattern has also drawn chart. Based on the said observations he alleged that the scrip has been made specifically for the purpose of providing bogus long term capital gain to beneficiaries. 10. The ld. AO further stated that the SEBI passed an interim order

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 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. SMT. SANGEETA MANTRI, JAIPUR

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

disallowance of sale etc. also suggests that price movements were manipulated. Based on the price pattern has also drawn chart. Based on the said observations he alleged that the scrip has been made specifically for the purpose of providing bogus long term capital gain to beneficiaries. 10. The ld. AO further stated that the SEBI passed an interim order

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

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

disallowance of sale etc. also suggests that price movements were manipulated. Based on the price pattern has also drawn chart. Based on the said observations he alleged that the scrip has been made specifically for the purpose of providing bogus long term capital gain to beneficiaries. 10. The ld. AO further stated that the SEBI passed an interim order

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

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

disallowance of sale etc. also suggests that price movements were manipulated. Based on the price pattern has also drawn chart. Based on the said observations he alleged that the scrip has been made specifically for the purpose of providing bogus long term capital gain to beneficiaries. 10. The ld. AO further stated that the SEBI passed an interim order

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

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

disallowance of sale etc. also suggests that price movements were manipulated. Based on the price pattern has also drawn chart. Based on the said observations he alleged that the scrip has been made specifically for the purpose of providing bogus long term capital gain to beneficiaries. 10. The ld. AO further stated that the SEBI passed an interim order

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

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

disallowing long form capital gain exemption U/S 10(38) of the IT Act on the basis of investigation report with named list of penny stock companies Without any having 2 SMT SITA DEVI AGARWAL VS ITO, WARD 4(1), JAIPUR corroborated evidence against assessee was having on record while the assessee put up all relevant evidence regarding his transaction

NIRMAL KUMAR AGRAWAL,JAIPUR vs. DCIT, CIRCLE - 4 , JAIPUR

In the result, the appeal of the assessee is allowed

disallowances were made which were never challenged, • That, it is again reiterated that the assessee already offered short term capital gain

INCOME TAX OFFICER, JAIPUR vs. RENU AGARWAL, JAIPUR

In the result, appeal of the Revenue is dismissed

Term Capital Gain resulting from these transactions was Rs.1,79,297/- only (as calculated in table above). The AO taxed the whole sales consideration which is against natural justice. It is a settled law that if the transaction is bogus then only the profit can be taxed not the whole sale value, reliance can be placed on the following cases

RAJRAJESHWARI GUPTA ,KOTA vs. ITO , WARD 1(1),KOTA, KOTA

In the result, the appeal of the assessee is allowed with no orders as to costs

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

disallowance of bogus long term capital gain (LTCG) is confirmed. The AO held that the assessee has to incur expenditure by way of commission for getting such accommodation entry. The source of such expenditure is not explained. Therefore, such unexplained expenditure on commission paid for procuring these entries of LTCG is found to be justified. The appellant has not furnished

RAM SHRAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

disallowed and short term capital gain of Rs.\n263580/- [ax declared in return filed wis 139(1)) is taxable at the hands