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

gain from sale of shares of a penny stock company namely M/s. PFL Infotech Ltd. Hyderabad. He submitted that this information was backed by statements of various persons involved in the stock market manipulation to rig the prices of PFLIL and converting unaccounted money of the beneficiaries into long term capital

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

gain from sale of shares of a penny stock company namely M/s. PFL Infotech Ltd. Hyderabad. He submitted that this information was backed by statements of various persons involved in the stock market manipulation to rig the prices of PFLIL and converting unaccounted money of the beneficiaries into long term capital

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

penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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

penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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

penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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

penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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

penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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

penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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

penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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

penny stock company listed on BSE with Script Code (511012) and this company has been used to facilitate introduction of unaccounted income of members of beneficiaries in the form of exempt capital gain

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

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

gain from sale of shares of a penny stock company namely M/s. PFL Infotech Ltd. Hyderabad. He submitted that this information was backed by statements of various persons involved in the stock market manipulation to rig the prices of PFLIL and converting unaccounted money of the beneficiaries into long term capital

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

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

gain from sale of shares of a penny stock company namely M/s. PFL Infotech Ltd. Hyderabad. He submitted that this information was backed by statements of various persons involved in the stock market manipulation to rig the prices of PFLIL and converting unaccounted money of the beneficiaries into long term capital

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

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

gain from sale of shares of a penny stock company namely M/s. PFL Infotech Ltd. Hyderabad. He submitted that this information was backed by statements of various persons involved in the stock market manipulation to rig the prices of PFLIL and converting unaccounted money of the beneficiaries into long term capital

AMIT BHASKARRAO SANAP,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -3, , AURANGABAD

In the result, appeal of the Assessee is Dismissed

Bench: Shri Partha Sarathi Chaudhury & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.78/Pun/2019 िनधा"रण वष" / Assessment Year : 2015-16 Amit Bhaskarrao Sanap, The Assistant A-2, N-4, Cidco, Aurangabad, Vs Commissioner Of Income Maharashtra – 431001. Tax, Circle-3, Aurangabad. Pan: Auips 4177 L Appellant/ Assessee Respondent /Revenue Assessee By None. Revenue By Shri S P Walimbe & Shri Arvind Desai – Dr Date Of Hearing 25/07/2022 Date Of Pronouncement 19/10/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-2, Aurangabad, Dated 13.11.2018 For The A.Y. 2015-16. The Assessee Has Raised The Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner (A), Aurangabad Confirming The Addition Of Rs.1,93.17.241/- Made By The A.O. In Computing The Income U/S 56 Instead Of Exempt U S. 10(38) Of The Act Of The Appellant Is Contrary To Law & Facts Of The Case.

capital gain in the scrip of Mahavir Advanced Remedies Ltd. in the favour of Revenue on the ground that it was a penny stock

SIDHARTH RATANLAL BAFNA,,JALGAON vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -2, , NASHIK

In the result, the appeal filed by the assessee stands dismissed

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.1183/Pun/2018 िनधा"रण वष" / Assessment Year: 2011-12 Sidharth Ratanlal Bafna, Vs. Acit, Central Circle-2, 96, Nayantara, Subhash Nashik. Chowk, Jalgaon-425001. Pan : Algpb5972R Appellant Respondent Assessee By : Shri Sunil Ganoo Revenue By : Shri Abhinay S. Kumbhar Date Of Hearing : 19.07.2022 Date Of Pronouncement : 23.08.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Pr. Commissioner Of Income Tax (Central), Nagpur (‘The Pcit’) Dated 08.06.2018 For The Assessment Year 2011-12. 2. The Appellant Raised The Following Grounds Of Appeal :- “1. In The Facts & Circumstances Of The Case & In Law, The Learned Pr.Cit Has Grossly Erred In Exercising His Revisional Jurisdiction U/S 263 Of The I.T. Act 1961. The Impugned Revisional Order Passed By The Learned Pr.Cit Is Patently Illegal., Void Ab Initio, Bad In Law, Arbitrary, Perverse, Without Jurisdiction & Being Devoid Of Merits The Same May Please Be Deleted. 2. Since The Learned Pr.Cit Has Failed To Revise The Directions Given By The Learned J.C.I.T. Nashik To The Learned Assessing Officer In The Matter Of Framing The Impugned Assessment Order U/S 143[3] R.W.S.L53A

capital gains from the penny stock script of M/s. S.V. Electricals Ltd. and formed an opinion that the Assessing Officer

SARIKA AMIT SANAP,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 3,, AURANGABAD

In the result, assessee‟s appeal is dismissed

penny stock and the modus operation has been well explained by the A.O. At para 12.5 of his order, the A.O categorically mentioned that it is evident that the assessee earned huge long term capital gains

DINESHKUMAR RAMCHANDRA TULSYAN (HUF),,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

In the result, both the appeals filed by the assessee are partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2014-15 Dineshkumar Ramchandra Tulsyan (Huf) Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Aachd5953R (Appellant) (Respondent) Assessment Year : 2014-15 Smt. Sumandevi Dineshkumar Tulsyan Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Ackpt1322Q (Appellant) (Respondent)

penny stocks including the shares of Mishka which was jacked up through cartel of interlinked companies controlled and managed by entry operators gain. 10. The Assessing Officer also wrote to Bombay Stock Exchange and National Stock Exchange and called for the trade data with regard to purchase and sale of shares made by the assessee. On an analysis

SMT. SUMANDEVI DINESHKUMAR TULSYAN,,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

capital gains have been provided to beneficiaries through dummy\ncompanies.\n• Mishka is a penny stock company and has financial