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

In the result appeals of the revenue are dismissed

short duration. The surrounding circumstances clearly lead to only one possible conclusion that the assessee has manipulated the entire record and availed the bogus transaction of long term capital gain to convert his unaccounted income to avoid tax through long term capital gain. The ld. DR further submitted that the observations of the CIT(A) in the impugned order that

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

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

term capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

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

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

term capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

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

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

term capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

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

In the result appeals of the revenue are dismissed

short duration. The surrounding circumstances clearly lead to only one possible conclusion that the assessee has manipulated the entire record and availed the bogus transaction of long term capital gain to convert his unaccounted income to avoid tax through long term capital gain. The ld. DR further submitted that the observations of the CIT(A) in the impugned order that

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

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

term capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

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

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

term capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

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

In the result appeals of the revenue are dismissed

short duration. The surrounding circumstances clearly lead to only one possible conclusion that the assessee has manipulated the entire record and availed the bogus transaction of long term capital gain to convert his unaccounted income to avoid tax through long term capital gain. The ld. DR further submitted that the observations of the CIT(A) in the impugned order that

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

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

term capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

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

In the result appeals of the revenue are dismissed

short duration. The surrounding circumstances clearly lead to only one possible conclusion that the assessee has manipulated the entire record and availed the bogus transaction of long term capital gain to convert his unaccounted income to avoid tax through long term capital gain. The ld. DR further submitted that the observations of the CIT(A) in the impugned order that

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

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

term capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

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

In the result appeals of the revenue are dismissed

short duration. The surrounding circumstances clearly lead to only one possible conclusion that the assessee has manipulated the entire record and availed the bogus transaction of long term capital gain to convert his unaccounted income to avoid tax through long term capital gain. The ld. DR further submitted that the observations of the CIT(A) in the impugned order that

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

short term capital loss are bogus and the same are claimed to avoid tax on long term capital gain. However, the basis of this conclusion is the alleged attempt of the assessee to avoid tax but no material or the transaction itself was found to be out of the book of account or discovered during the survey proceedings. Therefore

M/S ANGEL INFRASTRUCTURE (P) LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

short term capital loss are bogus and the same are claimed to avoid tax on long term capital gain. However, the basis of this conclusion is the alleged attempt of the assessee to avoid tax but no material or the transaction itself was found to be out of the book of account or discovered during the survey proceedings. Therefore

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

In the result, the appeal of the assessee is allowed

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) 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. The fact that the company

MAZHAR ILAHI SHAMSI,JAIPUR vs. ITO, WARD 1(1), JAIPUR, JAIPUR

In the result, appeal of the Assessee is partly allowed as per the terms indicated above

Bench: Dr. Manish Borad

reassessment proceedings is hereby dismissed. 4. Ground No.2 raised on merits of the case against the addition made under the head „long term capital gain‟ at Rs.3,96,516/- and „short

SHRI VIJAY KUMAR,JAIPUR vs. INCOME TAX OFFICER, WARD-4-1, JAIPUR

In the result, the ground of appeal is allowed

reassessment order passed as illegal, unjustified and void-ad-initio. 2. That on the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals) grossly erred in sustaining an addition of Rs. 3,29,302/- as short term capital gains

BHOPAL SINGH SHEKHAWAT,JAIPUR vs. ITO, JAIPUR

reassessment U/s 143(3) read with Section 147 of the Act on 24/3/2014 at the total income of Rs. 32,66,490/- after making addition on account of short term capital gain