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. 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. ASHISH 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. 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. ASHISH OMPRAKASH MANTRI, JALNA

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

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

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

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

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

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

penny stock. However, I have noticed\nthat the said scrip is being traded even today from the internet search. Further,\nthe appellate has purchased and sold the said shares on real time basis on on-line\nplatform through a SEBI approved broker. The contract note cum bill issued by the\nbroker 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

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

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

ITO, NASHIK vs. ANKIT NARESH TULSIAN, NASHIK

In the result, appeal of the Revenue is dismissed

penny stock.\nFailure to provide cross-examination is a fatal error\nShri Sunil Prakash V/s. ACIT -15(2) Ι.Τ.Α./6494/Mum/\n2014, Assessment Year: 2005-06\nIf the AO relies upon the statement of a third party to make the\naddition, he is duty bound to provide a copy of the statement to\nthe assesse and afford the opportunity

SHRI 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

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

ASHOK DHANRAJ CHORDIA ,PUNE vs. PCIT, PUNE-1, PUNE

stock during the financial year 2010-11.\nBased on the aforesaid information, including the information received from the\nInvestigation Wing, Mumbai, the AO issued a notice dated 23.08.2018 under\nSection 148 of the Act. Admittedly, there is nothing on record to indicate that the\nAO of the searched person had recorded a satisfaction note and transmitted the\nrelevant material containing