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8 results for “capital gains”+ Section 153Aclear

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Key Topics

Section 153A21Section 10(38)12Addition to Income8Section 1326Disallowance5Section 2504Section 132A4Long Term Capital Gains4Penny Stock4Exemption

MR.VISHAL BATRA,`LUDHIANA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, LUDHIANA

In the result, the appeal of the assessee is dismissed

ITA 54/ASR/2021[2015-16]Status: DisposedITAT Amritsar31 Aug 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Sh. Hitendra Bhauraoji Ninawe, CIT-DR
Section 132Section 142Section 144Section 153ASection 24

153A, no return has been filed. Subsequently, notice u/s 142 along with questionnaire to appear on04.10.2019, however on the said date neither the assessee attended nor filed any reply. Thereafter, on 26.11.2019, a show-cause notice was issued to the assessee for filing the reply, but on the said date, since no reply was filed by the assessee. Consequently

4
Natural Justice4
Section 153C3

SH. RAMAN KUMAR AGGARWAL,GURDAS PUR vs. DY. COMMISSIONER OF INCOME TAX , AMRITSAR

In the result, the appeal of assessee in ITA No

ITA 33/ASR/2019[2015-16]Status: DisposedITAT Amritsar13 Sept 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10(38)Section 153ASection 250

153A r.w.s. 143(3) of the Act. As per the revenue, the assessee sold the share of M/s Kappac Pharma Ltd. during impugned assessment year amount to Rs. 1,18,79,150/-. The revenue has declared the entire transaction as the sham transaction and bogus during search. The revenue identified various company stock i.e. a stock having very low price

SMT. DEEPTI AGGARWAL,GURDAS PUR vs. DY COMMISSIONER OF INCOME TAX, AMRITSAR

In the result, the appeal of assessee in ITA No

ITA 34/ASR/2019[2014-15]Status: DisposedITAT Amritsar13 Sept 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10(38)Section 153ASection 250

153A r.w.s. 143(3) of the Act. As per the revenue, the assessee sold the share of M/s Kappac Pharma Ltd. during impugned assessment year amount to Rs. 1,18,79,150/-. The revenue has declared the entire transaction as the sham transaction and bogus during search. The revenue identified various company stock i.e. a stock having very low price

SH.GAURAV AGGARWAL,GURDAS PUR vs. DY.COMMISSIONER OF INCOME TAX, AMRITSAR

In the result, the appeal of assessee in ITA No

ITA 35/ASR/2019[2014-15]Status: DisposedITAT Amritsar13 Sept 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10(38)Section 153ASection 250

153A r.w.s. 143(3) of the Act. As per the revenue, the assessee sold the share of M/s Kappac Pharma Ltd. during impugned assessment year amount to Rs. 1,18,79,150/-. The revenue has declared the entire transaction as the sham transaction and bogus during search. The revenue identified various company stock i.e. a stock having very low price

M/S RAMAN KUMAR AGGARWAL,GURDASPUR vs. DY. COMMISSIONER .OF. INCOME. TAX , AMRITSAR

In the result, the appeal of assessee in ITA No

ITA 32/ASR/2019[2014-15]Status: DisposedITAT Amritsar13 Sept 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10(38)Section 153ASection 250

153A r.w.s. 143(3) of the Act. As per the revenue, the assessee sold the share of M/s Kappac Pharma Ltd. during impugned assessment year amount to Rs. 1,18,79,150/-. The revenue has declared the entire transaction as the sham transaction and bogus during search. The revenue identified various company stock i.e. a stock having very low price

SHRI SALIL BHATIA,AMRITSAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeal is allowed

ITA 60/ASR/2023[2013-14]Status: DisposedITAT Amritsar13 Jun 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 132Section 132ASection 143(3)Section 153A

153A, no addition could be made without having any incriminating documents found during the course of search/requisition. The learned counsel contended that in the present case, there were no incriminating documents found during action under section 132A, of the income tax act, 1961. During the course of assessment proceedings, the AO received certain information from the investigation wing, and consequently

SHRI SIMERDEEP SINGH,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

The appeal stand allowed in terms of our above order

ITA 260/ASR/2022[2016-17]Status: DisposedITAT Amritsar06 Jun 2025AY 2016-17

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Udayan Das Gupta, Jm आयकरअपीलसं./ Ita No. 260/Asr/2022 (िनधा"रणवष" / Assessmentyear: 2016-17) Shri Simerdeep Singh Dcit बनाम/ Vs. H. No. 833 Urban Estate Phase-I Central Circle-1 Jalandhar- 144001. Jalandhar. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Abrps-8245-F (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/Appellant By : S/Shri J. S. Bhasin (Advocate)& A. P. Singh (Ca) –Ld.Ars ""थ"कीओरसे/Respondentby : Ms. Vandana Vijay Mohite (Cit) – Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 23-04-2025 घोषणाकीतारीख /Date Of Pronouncement : 06-06-2025 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: S/Shri J. S. Bhasin (Advocate)& A. P. SinghFor Respondent: Ms. Vandana Vijay Mohite (CIT) – Ld. DR
Section 132Section 139Section 153A

gains were recomputed by adopting sale consideration of Rs.155 Lacs. After deducting indexed cost of acquisition, Long-Term capital loss was worked out to be Rs.9.65 Lacs which was not allowed to be carried forward since the original return was filed belatedly. Finally, the assessment was framed rejecting various contentions of the assessee, on this issue. Appellate Proceedings

GURU NANAK MILK PRODUCTS ,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

In the result, the appeal of the assessee bearing ITA No

ITA 132/ASR/2022[2016-17]Status: DisposedITAT Amritsar09 Nov 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 132Section 133Section 143(1)Section 143(3)Section 153BSection 153CSection 250(6)

153A of the Act and the appeals of the assessees are allowed. 7. In the result, In ITA No. 86/Asr/2017, ITA 320 to 326/Asr/2017, 276/Asr/2019 & 277/Asr/2019 ITA 583 to 585/Asr/2019 ITA 151/Asr/2021, ITA 183/Asr/2021 and ITA 41 to 43/Asr/2022 are allowed.” 7.1 It is mentioned in written submission that the assessee is doing the milk product so, the land