BITTHAL DAS PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3 , JAIPUR

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

Bench: Him. 2. In This Appeal, The Assessee Has Raised The Following Grounds: -

68 on account of disallowance of Rs. exemption claimed u/s 10(38) of the IT Act, 5,95,91,797 1961/bogus LTCG Disallowance of brought forward long term Rs. 3,18,558/- capital loss against the long term capital gain In the income tax return u/s 153A of the Act, the appellant had declared additional income from long term capital

CHANDRA PRAKASH JAIN,JAIPUR vs. CIRCLE 1, JPR, JAIPUR

In the result, ground raised by the assessee is partly allowed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

long term capital gains which are tax exempted. In the instant case the shares were acquired by the assessee of a paper company and then that merged into a listed entity and the most interesting part is that the assessee got 38 shares of a listed company against each share of a non- listed company and then all the beneficiaries

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

In the result, the appeal of the assessee is allowed

section 68 of the IT Act by treating the Long Term Capital Gain on sale of shares as unexplained cash

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)

section 143 (3) of the act, long-term capital gain were accepted after detailed enquiries, now it cannot be said that the capital gain earned by the assessee is to be taxed u/s 68

PAWAN GUPTA,KOTA vs. ITO WARD 1(3) KOTA , KOTA

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

section 143 (3) of the act, long-term capital gain were accepted after detailed enquiries,\nnow it cannot be said that the capital gain earned by the assessee is to be taxed u/s 68

MADAN MOHAN GUPTA ,KOTA vs. ITO WARD 1(3) , KOTA

section 143\n(3) of the act, long-term capital gain were accepted after detailed enquiries, now\nit cannot be said that the capital gain earned by the assessee is to be taxed u/s 68

SUMIT GOEL,JAIPUR vs. INCOME TAX OFFICER , JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

long term capital gain, whereas the assessee has not earned any exempted income or any capital gain income during the year under consideration. The learned AO did not provide any material during the assessment proceedings or even after framing the assessment order on which he has relied upon and made the addition. The Learned AO has also not allowed opportunity

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

68 of the Act by treating genuine Long Term Capital Gain earned by assessee as mere accommodation entry and bogus and thereby withdrawing exemption u/s 10(38). SHRI ASHNUTH GOYAL VS ACIT, WARD 1(3), JAIPUR As all the grounds of appeal are interrelated, the same are dealt with together for the sake of convenience. Brief facts pertaining to these

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)

68 of the Act by treating genuine Long Term Capital Gain earned by assessee as mere accommodation entry and bogus and thereby withdrawing exemption u/s 10(38). As all the grounds of appeal are interrelated, the same are dealt with together for the sake of convenience. Brief facts pertaining to these grounds of appeal are that assessee was holding

DCIT, JAIPUR vs. VIGYAN LODHA, JAIPUR

In the result, the appeal of the Department is dismissed

long term capital gain. But in this case, neither statement was supplying to the assessee nor cross examination was allowed by the learned A.O. Therefore, in our considered opinion, assessee has discharged his onus and no addition can be sustained in the hands of the assessee." b. CIT vs Odeon Builders (P.) Ltd [2019] 110 taxmann.com

HARISH SHARMA HUF,B-1, PATODIYA MARG, SHASTRI NAGAR, JAIPUR vs. ITO, WARD-5(3), JAIPUR

In the result the appeal of the assessee is dismissed

section 10(38) in respect of capital gain arising from sale of shares, in view of fact that financial worth of said company was meager and, moreover, there was abnormal rise in price of shares, it could be concluded that assessee introduced her own unaccounted money in garb of long term capital gain and, thus, claim raised

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

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

long-term capital gains. The earnings @ 491% over a period of 5 months is beyond human probability and defies business logic of any business enterprise dealing with share transactions. The net worth of the company is not known to the assesse. Even the brokers who coordinated the transactions were also unknown to the assessee. All these facts give credence

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

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

68 of the Act. The ld. AO also added an amount of commission paid for acquiring such alleged bogus long term capital gain was also added u/s 69C of the Act for an amount of Rs. 71,76,181/-. The ld. AO made an addition of Rs. 2,86,948/- as an adjustment amount of interest based on the entries

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

In the result appeals of the revenue are dismissed

long-term capital gain added u/s 69C of the Act. The relevant findings were recorded in details by the AO and the brief of the findings of the Assessing Officer is briefly discussed here in below so as to understand the contentions and based upon the findings the addition was made:- “9 Main issues involved: Searches have been conducted

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

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

68 of the Act. The ld. AO also added an amount of commission paid for acquiring such alleged bogus long term capital gain was also added u/s 69C of the Act for an amount of Rs. 71,76,181/-. The ld. AO made an addition of Rs. 2,86,948/- as an adjustment amount of interest based on the entries

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

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

68 of the Act. The ld. AO also added an amount of commission paid for acquiring such alleged bogus long term capital gain was also added u/s 69C of the Act for an amount of Rs. 71,76,181/-. The ld. AO made an addition of Rs. 2,86,948/- as an adjustment amount of interest based on the entries

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

In the result appeals of the revenue are dismissed

long-term capital gain added u/s 69C of the Act. The relevant findings were recorded in details by the AO and the brief of the findings of the Assessing Officer is briefly discussed here in below so as to understand the contentions and based upon the findings the addition was made:- “9 Main issues involved: Searches have been conducted

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

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

68 of the Act. The ld. AO also added an amount of commission paid for acquiring such alleged bogus long term capital gain was also added u/s 69C of the Act for an amount of Rs. 71,76,181/-. The ld. AO made an addition of Rs. 2,86,948/- as an adjustment amount of interest based on the entries