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. As per details on record, the company, of which, shares were transacted by assessee was having name as M/s S V Electricals Limited. Kindly note the relevant dates matrix summarized in the above Events Chart (first 4-5 entries therein). Now, as per facts revealing from Events Chart, Assessee has acquired shares of M/s S V Electricals

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. As per details on record, the company, of which, shares were transacted by assessee was having name as M/s S V Electricals Limited. Kindly note the relevant dates matrix summarized in the above Events Chart (first 4-5 entries therein). Now, as per facts revealing from Events Chart, Assessee has acquired shares of M/s S V Electricals

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. As per details on record, the company, of which, shares were transacted by assessee was having name as M/s S V Electricals Limited. Kindly note the relevant dates matrix summarized in the above Events Chart (first 4-5 entries therein). Now, as per facts revealing from Events Chart, Assessee has acquired shares of M/s S V Electricals

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. As per details on record, the company, of which, shares were transacted by assessee was having name as M/s S V Electricals Limited. Kindly note the relevant dates matrix summarized in the above Events Chart (first 4-5 entries therein). Now, as per facts revealing from Events Chart, Assessee has acquired shares of M/s S V Electricals

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. As per details on record, the company, of which, shares were transacted by assessee was having name as M/s S V Electricals Limited. Kindly note the relevant dates matrix summarized in the above Events Chart (first 4-5 entries therein). Now, as per facts revealing from Events Chart, Assessee has acquired shares of M/s S V Electricals

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. As per details on record, the company, of which, shares were transacted by assessee was having name as M/s S V Electricals Limited. Kindly note the relevant dates matrix summarized in the above Events Chart (first 4-5 entries therein). Now, as per facts revealing from Events Chart, Assessee has acquired shares of M/s S V Electricals

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

u/s 10(38) on account of profit\nfrom sale of shares of the alleged penny stock company, after considering the reply\nin response to the queries raised him, therefore, in absence of any fresh tangible\nmaterial, we hold that the re-assessment proceedings initiated for the same\ntransaction are not in accordance with law.\n38. In this view

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

u/s 10(38) on account of profit\nfrom sale of shares of the alleged penny stock company, after considering the\nreply in response to the queries raised him, therefore, in absence of any fresh\ntangible material, we hold that the re-assessment proceedings initiated for the\nsame transaction are not in accordance with law.\n\n38. In this view

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

147 are applicable to\nfacts of this case and the assessment year under consideration is deemed to be case where income chargeable\nto tax has escaped assessment.\n\nPlease acknowledge receipt of this letter\n\nBHARAT DEVRAJ SHEGAONKAR\nACIT CEN CIR 2, NASHIK\n\n5. He, therefore, issued notice u/s 148 of the Act on 19.03.2020. The assessee\nin response

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

147 are applicable to\nfacts of this case and the assessment year under consideration is deemed to be case where income chargeable\nto tax has escaped assessment.\nPlease acknowledge receipt of this letter\n\nBHARAT DEVRAJ SHEGAONKAR\nACIT CEN CIR 2, NASHIK\n\n5. He, therefore, issued notice u/s 148 of the Act on 19.03.2020. The assessee\nin response

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

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 and therefore, such transaction is clearly ‘adventure in the nature of trade’. He accordingly made addition of Rs.1,52,62,200/- u/s 68 of the Act treating the long term capital gain claimed as exempt by the assessee u/s 10(38) of the Act as bogus. The Assessing Officer further made addition of Rs.9,15,732/- u/s

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

reassessment\nproceedings are initiated on the basis of report of Investigation wing Kolkata and\nincriminating material found in the search of appellant and then the provisions of\nSec.153C of the Act are applicable which override the applicability of Sec. 147\nand Sec. 148 of the Act.”\n14\nITA No.1178/PUN/2023\nITA No.2017/PUN/2024\n10. The ld. Counsel for the assessee submitted that

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

reassessment\nproceedings are initiated on the basis of report of Investigation wing Kolkata and\nincriminating material found in the search of appellant and then the provisions of\nSec.153C of the Act are applicable which override the applicability of Sec. 147\nand Sec. 148 of the Act.”\n14\nITA No.1178/PUN/2023\nITA No.2017/PUN/2024\n10. The ld. Counsel for the assessee submitted that

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

u/s 147 has to be quashed. 16. Referring to the decision of the Hon’ble Bombay High Court in the case of PCIT v. Shodiman Investments (P) Ltd, 93 taxmann.com 153, he submitted that the Hon’ble High Court in the said decision has held that where Assessing Officer had issued a reassessment notice on the basis of intimation from

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 u/s

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

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

147 of the Act by recording the following reasons: CO Nos.2 to 5/PUN/2025 5. He, therefore, issued notice u/s 148 of the Act on 19.03.2020. The assessee in response to the same filed his return of income on 30.04.2020 declaring the income returned originally i.e. Rs.1,23,93,990/-. Subsequently notices u/s

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

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

147 of the Act by recording the following reasons: CO Nos.2 to 5/PUN/2025 5. He, therefore, issued notice u/s 148 of the Act on 19.03.2020. The assessee in response to the same filed his return of income on 30.04.2020 declaring the income returned originally i.e. Rs.1,23,93,990/-. Subsequently notices u/s

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

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

147 of the Act by recording the following reasons: CO Nos.2 to 5/PUN/2025 5. He, therefore, issued notice u/s 148 of the Act on 19.03.2020. The assessee in response to the same filed his return of income on 30.04.2020 declaring the income returned originally i.e. Rs.1,23,93,990/-. Subsequently notices u/s