PRATIK AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, C.C.-3(1), , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

capital gains on penny stocks were certainly the beneficiaries of the unreasonable rise in the prices of penny stocks, but the assesses

PINKY AGARWAL ,KOLKATA vs. ACIT, CC-3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

capital gains on penny stocks were certainly the beneficiaries of the unreasonable rise in the prices of penny stocks, but the assesses

M/S. GATEWAY FINANCIAL SERVICES LTD., ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

capital gains on penny stocks were certainly the beneficiaries of the unreasonable rise in the prices of penny stocks, but the assesses

M/S. NISHIT AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

Bench: Sri Sanjay Garg & Dr. Manish Borad

capital gains on penny stocks were certainly the beneficiaries of the unreasonable rise in the prices of penny stocks, but the assesses

PURUSHOTTAM DAS AGARWAL ,KOLKATA vs. ITO, WARD - 35(1) , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Years :2012-13 Soumitra Choudhury V/S. Acit, Circle-12 28C, Satish Mukherjee 54/1, Rafi Ahmed Road, Kolkata-700026 Kidwai Road, [Pan No.Acnpc 4627 Q] Kolkarta-16 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Miraj D Shah, Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 13-03-2019 सुनवाई क" तार"ख/Date Of Hearing Assessment Year :2015-16 Purushottam Das Agarwal V/S. Income Tax Officer, C/O Balaji Enterprises, Ward-35(1), Aayakar 83/85 N.S. Road, Ground Bhawan Porva, 110, Floor, Kolkata Shantipally, Kokata- [Pan No.Actpa 9138 Q] 107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Subash Agarwal Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 14-03-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- These Two Assessees Have Filed Their Instant Appeal(S) For Assessment Year(S) 2012-13 & 2015-16 Against The Commissioner Of Income Tax

Capital Gains. 6.3 In a penny stock which has no business activity or any plan or initiative or any prospect

SOUMITRA CHOUDHURY ,KOLKATA vs. ACIT, CIRCLE - 22 , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Years :2012-13 Soumitra Choudhury V/S. Acit, Circle-12 28C, Satish Mukherjee 54/1, Rafi Ahmed Road, Kolkata-700026 Kidwai Road, [Pan No.Acnpc 4627 Q] Kolkarta-16 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Miraj D Shah, Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 13-03-2019 सुनवाई क" तार"ख/Date Of Hearing Assessment Year :2015-16 Purushottam Das Agarwal V/S. Income Tax Officer, C/O Balaji Enterprises, Ward-35(1), Aayakar 83/85 N.S. Road, Ground Bhawan Porva, 110, Floor, Kolkata Shantipally, Kokata- [Pan No.Actpa 9138 Q] 107 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Subash Agarwal Advocate अपीलाथ" क" ओर से/By Appellant Shri Sankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 14-03-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- These Two Assessees Have Filed Their Instant Appeal(S) For Assessment Year(S) 2012-13 & 2015-16 Against The Commissioner Of Income Tax

Capital Gains. 6.3 In a penny stock which has no business activity or any plan or initiative or any prospect

EXIM SCRIPS DEALERS PVT LTD,KOLKATA vs. ITO WARD-5(3), KOLKATA

In the result, appeal of the assessee is dismissed

Bench: Shri Sanjay Garg, Hon’Ble & Shri Manish Borad, Hon’Blei.T.A. No. 502/Kol/2020 Assessment Year: 2015-16 Exim Scrips Dealers Pvt. Ltd. Income Tax Officer, Ward-5(3), 412, Mukti Chambers Kolkata Vs 4Th Floor 4, Clive Row Kolkata - 700001 [Pan : Aaace6906E] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Girish Sharma, Fca Revenue By : Shri Biswanath Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 27/09/2022 घोषणा क" तारीख/Date Of Pronouncement : 23/11/2022 आदेश/O R D E R Per Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Learned Principal Commissioner Of Income Tax (Appeals) - 2, Kolkata (Hereinafter The “Ld. Pr. Cit”) Dt. 10/06/2020, Passed U/S 263 Of The Income Tax Act, 1961 (“The Act’), For Assessment Year 2015-16. 2. This Assessee’S Appeal Is Time Barred By 43 Days. Petition For Condonation Of Delay Has Been Filed. We Have Heard Both The Sides & Find That There Is Reasonable Cause For Delay In Filing Of The Appeal On Time. Hence We Condone The Delay & Admit The Appeal For Hearing.

Gains shown In return of income (Penny stock tab in ITS)". During the relevant F.Y. your company had invested in six penny stocks against which a short term capital

NAVIN KUMAR KAJARIA,KOLKATA vs. ACIT, CIRCLE - 35, KOLKATA , KOLKATA

Bench: Shri S.S, Godara

Capital Gains claims were to be treated as fictitious and bogus. Bogus LTCG from Penny stocks: The assessee has not tendered

SMT. SUSHILA DEVI KAJARIA,KOLKATA vs. ACIT, CIRCLE - 36, KOLKATA , KOLKATA

Bench: Shri S.S, Godara

Capital Gains claims were to be treated as fictitious and bogus. Bogus LTCG from Penny stocks: The assessee has not tendered

NAVANSH VINIMAY PVT. LTD.,KOLKATA vs. I.T.O., WARD - 8(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Rakesh Mishra

capital gain from dealing in the penny stock company namely M/s. Kailash Auto Finance Ltd., dismissed the assessee’s appeal

SAROJ BAID,KOLKATA vs. ITO, WARD - 36(3), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

penny stock companies listed with Bombay Stock Exchange, which the Investigation Wing has found to be managed by unscrupulous brokers, entry operators and money launderers involved in providing bogus accommodation entries of long-term capital gain

SAROJ BAID,KOLKATA vs. ITO, WARD 36(3), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

penny stock companies listed with Bombay Stock Exchange, which the Investigation Wing has found to be managed by unscrupulous brokers, entry operators and money launderers involved in providing bogus accommodation entries of long-term capital gain

ARUN ROY ,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

penny stock companies through which bogus long-term capital gain entries were taken in large numbers by the beneficiaries. The assessee

RAJENDRA KUMAR GUPTA,KOLKATA vs. I.T.O.,WARD-36(1), KOLKATA

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

penny stock companies through which bogus long-term capital gain entries were taken in large numbers by the beneficiaries. The assessee

SHRUTI MUNDHRA ,KOLKATA vs. ITO, WARD - 36(2) , KOLKATA

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

penny stock companies through which bogus long-term capital gain entries were taken in large numbers by the beneficiaries. The assessee

MAMTA DEVI AGARWALA,SILIGURI vs. I.T.O.,WARD-2(1), SILIGURI

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

penny stock companies through which bogus long-term capital gain entries were taken in large numbers by the beneficiaries. The assessee

SUMIT BAJAJ ,KOLKATA vs. ITO, WARD - 36(2) , KOLKATA

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

penny stock companies through which bogus long-term capital gain entries were taken in large numbers by the beneficiaries. The assessee

SUSHILA DEVI MUNDHRA ,KOLKATA vs. ITO, WARD - 36(2) , KOLKATA

In the result, all the appeals of all the captioned assessees are dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

penny stock companies through which bogus long-term capital gain entries were taken in large numbers by the beneficiaries. The assessee