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

bogus long term capital gains on account of trading in shares of a penny stock companies which is\nexempt u/s 10(38) of the Income Tax Act, 1961. The penny stock shares have been regularly purchased and sold\nand LTCG is claimed as exempt in the return of income thereby routing her undisclosed income / into the\naccounts. In view

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

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

153B of the Act on 30.11.2016 accepting the income returned. 4. Subsequently on the basis of information received from the Investigation Wing, Nashik, the Assessing Officer reopened the assessment as per provisions of section 147 of the Act by recording the following reasons: CO Nos.2 to 5/PUN/2025 5. He, therefore, issued notice

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

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

153B of the Act on 30.11.2016 accepting the income returned. 4. Subsequently on the basis of information received from the Investigation Wing, Nashik, the Assessing Officer reopened the assessment as per provisions of section 147 of the Act by recording the following reasons: CO Nos.2 to 5/PUN/2025 5. He, therefore, issued notice

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

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

153B of the Act on 30.11.2016 accepting the income returned. 4. Subsequently on the basis of information received from the Investigation Wing, Nashik, the Assessing Officer reopened the assessment as per provisions of section 147 of the Act by recording the following reasons: CO Nos.2 to 5/PUN/2025 5. He, therefore, issued notice