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4 results for “section 68”+ Bogus/Accommodation Entryclear

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Delhi70Mumbai33Kolkata21Surat4Ahmedabad4Bangalore4Raipur4Jaipur3Telangana1Hyderabad1Indore1Agra1

Key Topics

Section 689Section 1478Section 10(38)4Addition to Income3Section 2502Section 143(3)2Section 143(2)2Reassessment2Capital Gains2Bogus/Accommodation Entry

SHAILESH M PATEL-HUF,AHMEDABAD vs. ITO, WARD-3(3)(5), AHMEDDABAD

In the result, the appeal of the assessee is allowed

ITA 280/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad29 Oct 2021AY 2015-16

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 280/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2015-16 Shailesh M. Patel Huf, Income Tax Officer, C/O Ketan H. Shah, Advocate, Vs. Ward-3(3)(5), 512, Times Square-I, Ahmedabad. Opp. Ram Baug Bunglow, Thaltej Shilaj Road, Ahmedabad.

For Appellant: Shri Ketan Shah, with Shri Aman Shah, A.RsFor Respondent: Shri S.S. Shukla, Sr.D.R
Section 10(38)Section 68

bogus/accommodation entry in form of long-term capital gain to the beneficiaries on the purchase and sale of the companies as discussed above. A.Y. 2015-16 3 3.4 Similarly, the AO also found that SEBI has suspended the trading of the shares of the companies as discussed above on the stock exchange vide order dated

VIJAY K PATEL-HUF,AHMEDABAD vs. ITO, WARD-4(2)(5), AHMEDABAD

2
Long Term Capital Gains2
Penny Stock2

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

ITA 313/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad08 Jun 2022AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Ketan Shah, A.RFor Respondent: Shri V. K. Singh, Sr. DR
Section 10(38)Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 68

Section 68 r.w.s. 115BBE of the Act and why the same should not be added to the income of Vijay K. Patel-HUF vs. ITO Asst.Year –2015-16 the assessee treating the shares of Lifeline Drugs & Pharma Ltd. as penny stocks. 8. It appears that the assessee had shown long term capital gain in respect of sale of shares

INFINITY INTERNATIONAL,AHMEDABAD vs. NFAC, DELHI PRESENT JURIS. THE ITO, WARD-3(3)(1), AHMEDABAD

In the result, appeal of the assessee is dismissed

ITA 518/AHD/2025[2016-17]Status: DisposedITAT Ahmedabad10 Mar 2026AY 2016-17

Bench: Dr. B.R.R. Kumar, Vice-Shri Siddhartha Nautiyalinfinity International, Nfac, Delhi Vs. H-611, Titanium City Centre, Present Jurisdiction 100 Ft. Anandnagar Road, Ito, Ward 3(3)(1), Satellite, Ahmedabad-380015 Ahmedabad [Pan: Aaefi 2610 J] (Appellant) .. (Respondent) Appellant By: Shri S.N. Soparkar, Sr. Advocate & Ms. Ukti Shah, Ar Respondent By: Shri Alpesh Parmar, Cit-Dr Date Of Hearing 07.01.2026 Date Of Pronouncement 10.03.2026 O R D E R Per Dr. B.R.R. Kumar, Vice-:-

For Appellant: Shri S.N. Soparkar, Sr. AdvocateFor Respondent: Shri Alpesh Parmar, CIT-DR
Section 143(3)Section 147Section 148Section 153(3)Section 250Section 68

Section 250 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”), for the Assessment Year (AY) 2016-17. 2. The assessee has raised following grounds of appeal:- “In law and in the facts and circumstances of appellants case, the Ld. CIT(A) erred in upholding validity of assessment order passed u/s 147 r.w.s

HEMANTKUMAR MANSUKHLAL SONI, HUF,AHMEDABAD vs. THE ITO, WARD-1(3)(1), AHMEDABAD

In the result, appeal of the assessee is allowed

ITA 519/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad04 Sept 2024AY 2017-18

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2017-18 Hemantkumar Mansukhlal Soni, Huf Ito, Ward-1(3)(1) 2254 Mahurat Pole Vs Ahmedabad. Manekchowk Ahmedabad-380001. Pan : Aabhh 1182 F (Applicant) (Responent) : Assessee By Shri S.N. Divatia, Ar & Shri Samir Vora, Ar Revenue By : Ms.Saumya Pandey Jain, Sr.Dr सुनवाई क" तारीख/Date Of Hearing : 18/06/2024 घोषणा क" तारीख /Date Of Pronouncement: 04/09/2024 आदेश/O R D E R आदेश आदेश आदेश Per Annapurna Guptathis Is Assessee’S Appeal Against The Order Of The Ld.Cit(A), National Faceless Appeal Centre (Nfac), Delhi Dated 27.04.203 15.3.2023 Passed Under Section 250 Of The Income Tax Act, 1961 (“The Act” For Short) For The Assessment Year 2017-18. 2. The Grounds Raised In The Appeal Are As Under:

For Respondent: Ms.Saumya Pandey Jain, Sr.DR
Section 10(38)Section 147Section 250Section 68

bogus/accommodation entry, pertained to that of M/s Monotype India Ltd., which the assessee had sold during the year for a consideration of Rs.59,93,278/-. The assessee had returned income earned on the same as long term capital gain earned and treated the same as exempt under section 10(38) of the Act, which was denied by the AO, whose