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269 results for “capital gains”+ Unexplained Moneyclear

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Key Topics

Addition to Income64Section 6852Section 14750Section 13236Section 14833Section 69A28Section 143(3)28Penalty26Section 26319Section 10(38)

SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

ITA 14/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad21 Aug 2024AY 2011-12

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

For Appellant: Shri Deeapk Shah, A.RFor Respondent: Shri Ashok Kumar Suthar, Sr. DR

money in garb of long term capital gain and, thus, claim raised by her was to be rejected. 23. The Bombay High Court in the case of Sanjay Bimalchand Jain v. PCIT [2018] 89 taxmann.com 196 (Bombay)held that where assessee had purchased shares of penny stocks companies at lesser amount and within a year sold such shares at much

SHAILESH S. JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

ITA 15/AHD/2024[2012-13]Status: DisposedITAT Ahmedabad

Showing 1–20 of 269 · Page 1 of 14

...
19
Unexplained Cash Credit17
Reopening of Assessment17
21 Aug 2024
AY 2012-13

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

For Appellant: Shri Deeapk Shah, A.RFor Respondent: Shri Ashok Kumar Suthar, Sr. DR

money in garb of long term capital gain and, thus, claim raised by her was to be rejected. 23. The Bombay High Court in the case of Sanjay Bimalchand Jain v. PCIT [2018] 89 taxmann.com 196 (Bombay)held that where assessee had purchased shares of penny stocks companies at lesser amount and within a year sold such shares at much

SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

ITA 16/AHD/2024[2012-13]Status: DisposedITAT Ahmedabad21 Aug 2024AY 2012-13

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

For Appellant: Shri Deeapk Shah, A.RFor Respondent: Shri Ashok Kumar Suthar, Sr. DR

money in garb of long term capital gain and, thus, claim raised by her was to be rejected. 23. The Bombay High Court in the case of Sanjay Bimalchand Jain v. PCIT [2018] 89 taxmann.com 196 (Bombay)held that where assessee had purchased shares of penny stocks companies at lesser amount and within a year sold such shares at much

SABBIRALI ALIMIYA SAIYED,VADODARA vs. THE ITO, WARD-3(1)(1),, VADODARA

In the result, the appeal of the assessee is allowed

ITA 904/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad10 Nov 2021AY 2014-15

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 904/Ahd/2018 िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/Asstt. Year: 2014-15 वष"

For Appellant: Shri Mukund Bakshi, A.RFor Respondent: Shri S.S. Shukla, Sr.D.R
Section 10(38)Section 133(6)Section 68

capital gain declared by the assessee as bogus and unexplained money under section 68 of the Act. 4.2 The assessee

THE ITO, WARD-1(2)(3), AHMEDABAD vs. SHRI MAHESH SOMABHAI PATEL, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

ITA 1854/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad19 Jun 2024AY 2014-15

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 10Section 10(38)Section 143(3)

unexplained cash credit.” 8. The Co-ordinate Bench of this Tribunal in the case of ITO Vs. Shri Nileshkumar Dashratbhai Patel (in ITA No. 55/Ahd/2020 dated 16.08.2022) considered the very same script of SRK Industries Ltd. and allowed the Long Term Capital Gain claimed by the assessee by observing as follows: “10. We have heard the rival contentions of both

THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. SHRI KAILASH RAMAVATAR GOENKA, AHMEDABAD

ITA 67/AHD/2023[2019-20]Status: DisposedITAT Ahmedabad10 Jan 2025AY 2019-20

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr.Advocate &For Respondent: Shri R.N. Dsouza, CIT-DR &
Section 132Section 153A

money (unrecorded cash). These were related to properties such as Khoral Land (Survey 38/1/1), Shilpgram Land (Jaspur - 651) and Flat advances for A-902 Silver Harmony. The CIT(A) concluded that the transactions were capital in nature and are to be taxed under capital gains. The CIT(A) allowed deduction for unaccounted expenses related to these transactions for calculating taxable

THE ITO, WARD-1(3)(4), AHMEDABAD vs. SHRI NILESHKUMAR DASHRATHBHAI PATEL, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

ITA 55/AHD/2020[2014-15]Status: DisposedITAT Ahmedabad16 Aug 2022AY 2014-15

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Deelip Kumar, Sr. D.RFor Respondent: Shri Anil Kshatriya, A.R
Section 10(38)

capital gains from penny stocks: If the transaction is supported by documents like contract notes, demat statements etc and is routed through the stock exchange and if the payments are by account payee cheques and there is no evidence that the cash has gone back to the assessee's account, it has to be treated as a genuine transaction

THAKORBHAI MAGANBHAI PATEL,VADODARA vs. THE ITO, WARD- 3(1)(1), VADODARA

ITA 532/AHD/2023[2008-09]Status: DisposedITAT Ahmedabad16 Dec 2025AY 2008-09
For Appellant: \nShri Sakar Sharma, ARFor Respondent: Shri Kamal Deep Singh, Sr. DR
Section 131Section 143(3)Section 147Section 148Section 271(1)(c)

money of ₹1,05,72,000/- in cash,\nwhich was not disclosed. Since the assessee failed to substantiate the receipt\nof such cash with any evidence, the Assessing Officer treated ₹1,05,72,000/-\nas unexplained receipt taxable as “income from other sources\". The\nAssessing Officer also treated ₹4,98,000/- as short-term capital gain

SHRI DINESH CHHAGANLAL THAKKAR,AHMEDABAD vs. THE PR. CIT-1 , AHMEDABAD

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

ITA 51/AHD/2022[2015-16]Status: DisposedITAT Ahmedabad21 Nov 2022AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 51/Ahd/2020 िनधा"रण वष"/Asstt. Year: 2015-2016

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Vijay Kumar Jaiswal, CIT. DR
Section 10(38)Section 142(1)Section 143(3)Section 263

capital gain arising from sale of shares as unexplained cash credit. In my case, I have submitted all the documents such as contract notes of transactions, demat statement showing timely inward- outward entries, bank statement showing payment and receipts, broker accounts, books of accounts showing that the purchase sale is made from the regular books of accounts etc and therefore

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 213/AHD/2020[2007-08]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2007-08

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 212/AHD/2020[2006-07]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2006-07

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 211/AHD/2020[2005-06]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2005-06

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 210/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2011-12

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 214/AHD/2020[2008-09]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2008-09

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 217/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2011-12

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 216/AHD/2020[2010-11]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2010-11

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 215/AHD/2020[2009-10]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2009-10

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

ITA 218/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2011-12

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI PANNALAL BAIJNATH JAISWAL,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-2(3),, AHMEDABAD

In the result, assessee’s appeal is dismissed

ITA 1142/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad01 Dec 2017AY 2011-12

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No.1142/Ahd/2015 ("नधा"रण वष" / Assessment Year : 2011-12)

For Appellant: Shri S.N. Soparkar &For Respondent: Shri V.K. Singh, Sr.DR
Section 234ASection 271(1)(c)Section 68

money of assessee by way of cash. The Ld.DR accordingly contended that it is ostensible that the assessee has failed to discharge its onus miserably. 16. We have carefully considered the rival submissions. The first issue concerns as to whether the gains arising on sale of immovable property in question is to be considered as Short Term Capital Gain (STCG

DCIT CIRCLE-3(3), AHMEDABAD vs. SHRI ALPESHKUMAR C.PATEL, AHMEDABAD

In the result, the appeal of the assessee is partly allowed

ITA 1991/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad09 Sept 2022AY 2011-12

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकर अपील सं./Ita No. 1908/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2011-2012 Alpeshkumar C. Patel, A.C.I.T., 503, Milestone Building, Vs. Circle-3(3), Drive In Road, Ahmedabad. Thaltej, Ahmedabad-380052. Pan: Aeapp9489G

For Appellant: Shri Deepak R. Shah, A.RFor Respondent: Shri Ajay Pratap Singh CIT. D.R with Shri V.K. Singh, Sr.D.R
Section 41(1)Section 54F

capital gain in the event the assessee makes the sale of its bungalow in dispute. It is because the revenue has not doubted on the incurrence of such expenses while framing the assessment. Besides the above, all the necessary details of the construction expenses were made available to the authorities below along with the addresses and the payments were made