BHIKHALAL PRAHALADRAI AGARWAL HUF,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, GANDHIDHAM CIRCLE, GANDHIDHAM

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.779&780/Rjt/2024 ("नधा"रण वष" / Assessment Years: 2011-12 & 2016-17) Bhikhalal Prahaladrai Agarwal- Vs. Assistant Commissioner Of Income Tax, Huf, Gandhidham Circle C/O. Sarda & Sarda, Sakar, 1St It Office, Plot No. 32, Sector No. 3, Near Floor, Dr. Radha-Krishnan Road, Iffco Colony, Gandhidham Opp. Rajkumar College Rajkot Gandhidham - 370201 Rajkot - 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabha4638R (Assessee) (Respondent) Assessee By : Shri Vimal Desai, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 05/06/2025 Date Of Pronouncement : 21/08/2025

penny stock and dubious devices were adopted by the assessee to evade the payment of tax and therefore, the assessee’s transactions are bogus, as the assessee failed to prove the genuineness of the transactions.The generation of LTCG through the process from purchase to receipt of cheque is totally arranged and actually no capital gain arose, but assessee

SMT. MEENABEN KETANKUMAR MAKIM,JAMNAGAR vs. THE PR, CIT, JAMNAGAR, JAMNAGAR

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

Bench: Shri Waseem Ahmed & Shri T.R Senthil Kumar

penny stock)" is discussed or any inquiry in this regard has been made and placed on record. It is seen that notice u/s.!42(l) of I. T. Act was issued on 20/01/2017 calling for primary details only and further notice u/s,142{l} of I. T. Act was issued calling to furnish the copies of rent deeds

MISS PARI ANIL GANDHI, RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

Penny Stock is treated as Bogus or treated as Cash Credit u/s.68 of the IT Act, 1961, is totally unwarranted, unjustified and bad in law. 4. The Hon'ble Principal Commissioner of Income Tax, Rajkot -1, Rajkot has erred in wrongly mentioned the facts in body of order and set aside the Speaking order passed by Assessing Officer as treated

LATE SMT. PRITI A. GANDHI L/R. SHRI ANILBHAI A. GANDHI, RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

Penny Stock is treated as Bogus or treated as Cash Credit u/s.68 of the IT Act, 1961, is totally unwarranted, unjustified and bad in law. 4. The Hon'ble Principal Commissioner of Income Tax, Rajkot -1, Rajkot has erred in wrongly mentioned the facts in body of order and set aside the Speaking order passed by Assessing Officer as treated