INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

purchased by assessee online, payments were made through banking channel and shares were dematerialized and, further, sales were routed from demat account and, sale consideration was received through banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ASHISH OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

purchased by assessee online, payments were made through banking channel and shares were dematerialized and, further, sales were routed from demat account and, sale consideration was received through banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

purchased by assessee online, payments were made through banking channel and shares were dematerialized and, further, sales were routed from demat account and, sale consideration was received through banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court

INCOME TAX OFFICER, WARD -1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

purchased by assessee online, payments were made through banking channel and shares were dematerialized and, further, sales were routed from demat account and, sale consideration was received through banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

purchased by assessee online, payments were made through banking channel and shares were dematerialized and, further, sales were routed from demat account and, sale consideration was received through banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

purchased by assessee online, payments were made through banking channel and shares were dematerialized and, further, sales were routed from demat account and, sale consideration was received through banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

purchased by assessee online, payments were made through banking channel and shares were dematerialized and, further, sales were routed from demat account and, sale consideration was received through banking channels, impugned addition made by Assessing Officer under section 68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court

DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

In the result, all the above 6 appeals filed by the Revenue are dismissed and

Bench: Shri R. K. Panda & Ms Astha Chandra

bogus. If the purchase and sale of shares are reflected in the Assessee's DMAT account, yet they are termed as arranged transactions and projected to be real, then, such conclusion which has been reached by the Commissioner and the Assessing Officer required a deeper scrutiny. It was also revealed during the course of inquiry by the Assessing Officer that

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

In the result, all the above 6 appeals filed by the Revenue are dismissed and

Bench: Shri R. K. Panda & Ms Astha Chandra

bogus. If the purchase and sale of shares are reflected in the Assessee's DMAT account, yet they are termed as arranged transactions and projected to be real, then, such conclusion which has been reached by the Commissioner and the Assessing Officer required a deeper scrutiny. It was also revealed during the course of inquiry by the Assessing Officer that

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

In the result, all the above 6 appeals filed by the Revenue are dismissed and

Bench: Shri R. K. Panda & Ms Astha Chandra

bogus. If the purchase and sale of shares are reflected in the Assessee's DMAT account, yet they are termed as arranged transactions and projected to be real, then, such conclusion which has been reached by the Commissioner and the Assessing Officer required a deeper scrutiny. It was also revealed during the course of inquiry by the Assessing Officer that

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. SURYACHANDRA LALMANI DUBEY, AURANGABAD

In the result, appeal of the Revenue is allowed

Bench: SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND DR.DIPAK P. RIPOTE (Accountant Member)

153/- in his books of accounts, whreas M/s Shidrah Multi Trade Link has shown total sales at Rs.2,62,36,903/-. Therefore, it is evident that M/s Brahma Steels has shown bogus purchases to the tune of Rs. 36,56,250/- and suppressed the gross profit for the year under consideration. Also, The M/s Shidrah Multi Trade Link has shown

GOPAL EXTRUSIONS PVT LTD,,JALGAON vs. INCOME-TAX OFFICER, WARD - 1(2),, JALGAON

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita. No.1633/Pun/2017 Assessment Year : 2008-09

153 referred to as the relevant assessment year. Provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant 9 Gopal Extrusions Pvt. Ltd. assessment year, no action shall be taken under the section after the expiry of four years from the end of the relevant assessment year, unless

JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

153 taxmann.com 579, he submitted that the Hon’ble Supreme Court in the said decision has dismissed the SLP filed against order of High Court that where Assessing Officer disallowed exemption claimed by assessee under section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack

R. K. WINES,PEN vs. ITO, WARD 4, PANVEL, PANVEL

In the result, appeal of the assessee is partly allowed

bogus purchases from the disputed\ncreditors. It is thus the case that without such purchases the subsequent\nsale of liquor could not have been effected.\nThe appellant submits that non responding by some parties to notice us\n133(6) cannot be a ground to reject book results u/s 145(3) Reliance\nplaced on CIT-vs-Jas Jack Elegance Exports

INCOME TAX OFFICER WARD HINGOLI, WARD HINGOLI (CAMP AT PARBHANI) vs. VISHWAS AGRO PRODUCT PVT LTD, PARBHANI

In the result, the appeal filed by the Revenue is allowed for statistical purposes

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

153/- received from Pranav International Dubai under section 68 considering the same as interest free advances as credit worthiness is not submitted by the appellant to the AO. Further the AO has considered the amount of advance against export received by the appellant company from M/s Pranav International Dubai as Interest free loan stating the reason that the appellant

AADHUNIK INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED,JALGAON vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALGAON

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2012-13

bogus purchase by assessee received by DRI from CCE which was passed on to revenue authorities was 'tangible material outside record to initiate valid reassessment proceedings. Thus there was no borrowed satisfaction on the part of the AO. There was independent application of mind on the part of the AO. Further reliance is placed upon clause (b) of explanation

SHRI GANESH BHIVRAJ BHUTADA,PUNE vs. ACIT, CENTRAL CIRCLE1(1), PUNE, PUNE

In the result, both the appeals of the assessee are allowed for statistical purposes

Bench: Shri R. K. Panda & Shri Vinay Bhamore

153 TTJ 0422 (MUM) has held that income tax proceedings are civil proceedings and the degree of proof required is by preponderance of probabilities. The principle of preponderance of probability means that a fact is said to be proved when, after considering the matters before it the Court considers its existence so probable that a prudent man ought under

SHRI GANESH BHIVRAJ BHUTADA,PUNE vs. ACIT, CENTRAL CIRCLE1(1), PUNE, PUNE

In the result, both the appeals of the assessee are allowed for statistical purposes

Bench: Shri R. K. Panda & Shri Vinay Bhamore

153 TTJ 0422 (MUM) has held that income tax proceedings are civil proceedings and the degree of proof required is by preponderance of probabilities. The principle of preponderance of probability means that a fact is said to be proved when, after considering the matters before it the Court considers its existence so probable that a prudent man ought under