High Court of Delhi · Judgments and reasoned final orders
Principal Commissioner of Income Tax-10 v. Bal Kishan Arora
ITA 124/2026; CM APPL. 9589/2026 and 50835/2026 ·
Revenue appeal challenging ITAT order on long-term capital gains / penny-stock addition dismissed as squarely covered by PCIT-12 v. Smt. Krishna Devi, (2021) 126 taxmann.com 80 (Delhi).
1. FACTS OF THE CASE
The Principal Commissioner of Income Tax-10 filed ITA 124/2026 under section 260A of the Income-tax Act, 1961 challenging the order of the Income Tax Appellate Tribunal in favour of the respondent-assessee, Bal Kishan Arora.
2. DISCUSSION BY THE COURT
At the outset of the hearing, counsel for the Revenue fairly stated that the controversy raised in the appeal stood covered on all fours by the judgment of the coordinate Bench of the Delhi High Court in Principal Commissioner of Income Tax-12 v. Smt. Krishna Devi, (2021) 126 taxmann.com 80 (Delhi), against which the Revenue's Special Leave Petition had also been dismissed by the Supreme Court.
3. JUDICIAL DECISION
Recording that the issue was covered by PCIT-12 v. Smt. Krishna Devi, (2021) 126 taxmann.com 80 (Delhi) (as affirmed on dismissal of SLP by the Supreme Court), the Delhi High Court dismissed ITA 124/2026 along with CM APPL. 10772/2026 and CM APPL. 10773/2026.
4. OUTCOME
In favour of the assessee (Bal Kishan Arora); Revenue appeal ITA 124/2026 dismissed.
5. AKHB REVIEW POINT
AKHB analysis: The Delhi High Court continues to apply PCIT-12 v. Smt. Krishna Devi ((2021) 126 taxmann.com 80 (Delhi)) to dismiss departmental appeals under section 260A where additions against stock-exchange-traded LTCG claims rest solely on general astronomical price-rise theories without direct evidence implicating the assessee.
Source and verification
Reviewed from the complete 1-page official High Court judgment PDF (DLHC011097502025_1_2026-09-29.pdf, SHA-256: a9b3937e912e1c4fefbc08d11de2c5a7eae6da39b9b8c73cf6e4abc4abb6537e).
Original PDF: 1 pages · SHA-256: a9b3937e912e1c4fefbc08d11de2c5a7eae6da39b9b8c73cf6e4abc4abb6537e
Supplied source-reviewed note retained; original bytes and identity validation checked in this release. Substantive re-review is not claimed for this record.
Refers to the Income-tax Act, 1961 and allied statutory rules/circulars as applicable to the relevant assessment years.
No subsequent Supreme Court reversal or stay is recorded in the source judgment text.
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