MANISHKUMAR RAMLAKHAN AGRAWAL,AHMEDABAD vs. INCOME TAX OFFICER, WARD 6(1)(1), AHMEDABAD, AHMEDABAD

ITA 919/AHD/2025Status: DisposedITAT Ahmedabad14 September 2026AY 2018-199 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The tribunal upheld the addition of capital gains, finding the transactions to be bogus accommodation entries, similar to previous rulings. However, the tribunal remanded the issue of capital loss calculation back to the CIT(A) for fresh adjudication as it was not properly addressed.

What were the facts?

The assessee declared capital gains from share transactions and a capital loss on property sale. The Assessing Officer treated the capital gains as bogus and added the sale consideration, also restricting the capital loss by excluding certain expenses from the cost of acquisition.

What were the issues?

Whether the capital gains from share transactions were bogus accommodation entries and whether certain expenses should be included in the cost of acquisition for calculating capital loss.

Which sections of the Income-tax Act were involved?

Section 69A,Section 10(38),Section 250,Section 132,Section 115BBE

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, AHMEDABAD

For Appellant: Shri Chetan Agarwal, AR
For Respondent: Shri Drop Singh Meena, Sr DR
Hearing: 07.07.2026Pronounced: 14.09.2026

PER DR. B.R.R. KUMAR, VICE-PRESIDENT:

-

This appeal has been filed by the assessee against the order dated17.04.2025 passed by the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi (hereinafter referred to as ‘Ld. CIT (A)’ in short), under Section 250 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’ in short) for Assessment Year 2018-19. 2. The assessee has raised following grounds of appeal:- “1. The Ld. CIT(A) erred in law as well as on fact in upholding addition of Rs.14,85,833 made by the Ld.AO u/s.69A being gross sales consideration on sales of shares, for which capital gain was declared in

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 69A

All 15,297 judgments and leading authorities on Section 69A →

Recent GST High Court judgments

Search GST case law →