CHANCHAL KUMARI JAIN ,BHILWARA vs. ITO, WARD-3, BHILWARA
The appeal stands partly allowed
ITA 213/JODH/2019[2014-15]Status: DisposedITAT Jodhpur21 Dec 2020AY 2014-15
Bench: Hon’Ble Shri Sandeep Gosain, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील सं./ I.T.A. No.213/Jodh/2019 ("नधा"रणवष" / Assessment Year: 2014-15) Smt. Chanchal Kumari Jain Income Tax Officer बनाम/ 143-A/A, Shastri Nagar Ward-3, Bhilwara Vs. Bhilwara, Rajasthan-311 001. Rajasthan-311 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adnpj-8347-F (अपीलाथ"/Appellant) (""यथ" / Respondent) :
For Appellant: Shri Amit Kothari (CA)- Ld. ARFor Respondent: Shri A.S. Yadav - Ld. Sr. DR
Section 115BSection 143(3)Section 148Section 68
bogus STCG to various beneficiaries. Therefore, treating the entity as penny stock, the entire sale consideration of Rs.5.40 Lacs was added back to the income of the assessee u/s 68 which would be taxable @30% in terms of Sec.115BBE(1) of the Act. The Ld.AO also estimated commission of 1.5% on sale consideration and made another addition of Rs.8
