DINESHKUMAR RAMCHANDRA TULSYAN (HUF),,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

PDF · subscribers
ITA 813/PUN/2018Status: DisposedITAT Pune28 November 2025AY 2014-15Bench: SHRI R. K. PANDA (Vice President), MS. ASTHA CHANDRA (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the sale transactions of shares could not be doubted as the assessee provided evidence of purchase, sale, payment, and demat account entries. The Tribunal also noted that the SEBI had revoked directions against the assessee.

What were the facts?

The assessee claimed long-term capital gains (LTCG) as exempt income under Section 10(38) on the sale of shares. The Assessing Officer (AO) disallowed this claim, treating the sale consideration as unexplained cash credit, based on information regarding manipulation of share prices by entry operators.

What were the issues?

Whether the long-term capital gains on sale of shares are genuine and exempt under Section 10(38), or if the sale consideration is an unexplained cash credit under Section 68.

Which sections of the Income-tax Act were involved?

Section 10(38),Section 68

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE

Before: SHRI R. K. PANDA & MS. ASTHA CHANDRA

For Appellant: Shri Pramod S Shingte
For Respondent: Shri Rajesh Haladkar (through virtual)

आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: अपील र्थी / The Appellant; 1. 2. प्रत्यर्थी / The Respondent 3. The concerned Pr.CIT, Pune 4. DR, ITAT, ‘A’ Bench, Pune 5. ग र्ड फ ईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune

S.No. Details Date Initials Designation 1 Draft dictated on 19.11.2025 Sr. PS/PS 2 Draft placed before author 20.11.2025 Sr. PS/PS Draft proposed & placed before the 3 JM/AM Second Member Draft discussed/approved by Second 4 AM/AM Member 5 Approved Draft comes to the Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS Date on which the file goes to the Head 9 Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order

More judgments on Section 10(38)

All 3,113 judgments and leading authorities on Section 10(38) →

Recent GST High Court judgments

Search GST case law →