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

reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which

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

reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which

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

reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which

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

reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which

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

reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which

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

penny stock. However, I have noticed that the said scrip is being traded even today from the internet search. Further, the appellate has purchased and sold the said shares on real time basis on on-line platform through a SEBI approved broker. The contract note cum bill issued by the broker is on record. The delivery of shares was made

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

penny stock of M/s Nivyah Infrastructure & Telecom Services Ltd amounting to Rs.1,60,30,716.35/- during the AY under consideration. Further, it is stated that the company M/s Nivyah Infrastructure & Telecom Services Ltd. is a penny stock company and has facilitated various beneficiaries to claim LTCG exempt from tax under section 10(38) of the Act. The assessee

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

penny stock. However, I have noticed that the said scrip is being traded even today from the internet search. Further, the appellate has purchased and sold the said shares on real time basis on on-line platform through a SEBI approved broker. The contract note cum bill issued by the broker is on record. The delivery of shares was made

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 or the operator which are referred to as exist providers. The unaccounted money of the beneficiaries is routed to these bogus entities exist 8 providers and the shares held by the beneficiaries are bought by these bogus entities from the money which is the unaccounted money of the beneficiaries. 5.3.2 To understand the nature of transaction

ASHOK VIJAYKUMAR KOTECHA,JALGAON vs. ACIT, CIRCLE 1, JALGAON, JALGAON

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2011-12

penny stock company. 4 It is evident from the above facts that the assessee had not truly and fully disclosed material facts necessary for his assessment for the year under consideration thereby necessitating reopening u/s 147 of the Act. It is true that the assessee has filed a copy of computation of income, P&L A/c and balance sheet alongwith

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

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

penny stock company namely, PFLIL and made addition of Rs.7,68,24,174/- to the total income of the assessee. The Assessing Officer also made the consequential addition on account of commission paid for acquiring the accommodation entries of Rs.23,04,725/- u/s 69C being commission paid @ 3% of such bogus LTCG. 8. In appeal the Ld. CIT(A) / NFAC

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

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

penny stock company namely, PFLIL and made addition of Rs.7,68,24,174/- to the total income of the assessee. The Assessing Officer also made the consequential addition on account of commission paid for acquiring the accommodation entries of Rs.23,04,725/- u/s 69C being commission paid @ 3% of such bogus LTCG. 8. In appeal the Ld. CIT(A) / NFAC

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

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

penny stock company namely, PFLIL and made addition of Rs.7,68,24,174/- to the total income of the assessee. The Assessing Officer also made the consequential addition on account of commission paid for acquiring the accommodation entries of Rs.23,04,725/- u/s 69C being commission paid @ 3% of such bogus LTCG. 8. In appeal the Ld. CIT(A) / NFAC

MANOJ MADANLAL CHHAJED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE

penny stocks and nowhere the issues are reported regarding loans /\naccommodation entries. Therefore, it is clear that the Assessing Officer has not\napplied his mind to the information received and simply reproduced the\ninformation as contained in pages from 720 to 996 of the paper book-2.\n16. Referring to the decision of the Pune Bench of the Tribunal

SHRI MANOJ MADANLAL CHHAJED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE

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

penny stocks and nowhere the issues are reported regarding loans / accommodation entries. Therefore, it is clear that the Assessing Officer has not applied his mind to the information received and simply reproduced the information as contained in pages from 720 to 996 of the paper book-2. 16. Referring to the decision of the Pune Bench of the Tribunal

SHEETAL SANDEEP MEHER,JALGAON vs. ITO, WARD1(2), , JALGAON

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

Bench: Shri G. D. Padmahshali & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1000/Pun/2024 िनधा"रण वष" / Assessment Year : 2013-14 Sheetal Sandeep Meher, Vs. Ito, Ward-1(2), 3Rd Floor, Pitruchaya Jalgaon. Building, Nehru Chowk, Navi Peth, Jalgaon- 425001. Pan : Aqupm5982D Appellant Respondent Assessee By : Shri Sanket Joshi Revenue By : Shri Umashankar Prasad Date Of Hearing : 22.07.2024 Date Of Pronouncement : 31.07.2024 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 27.02.2024 Passed By Ld Cit(A)/Nfac For The Assessment Year 2013-14. 2. The Present Appeal Is Filed Belatedly I.E. With The Delay Of 13 Days. The Appellant Furnished An Affidavit Praying For Condonation Of Delay In The Circumstances Mentioned Therein.

penny stock transactions & shown some exempted income u/s 10(38) of the IT Act from bogus long term capital gain. After recording reasons & prior approval from competent authority, notice u/s 148 was issued to the assessee requiring him to furnish return of income. The assessee furnished its return of income & made compliance to the notices issued