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6 results for “capital gains”+ Section 274clear

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Key Topics

Section 271(1)(c)22Section 115B11Section 2745Addition to Income5Section 143(1)4Section 684Section 2714Penalty4Section 143(3)3Section 54

THE INCOME TAX OFFICER, JALANDHAR vs. SH. SARWAN SINGH PHILLAUR, JALANDHAR

In the result, the appeal of the Revenue is dismissed and appeal filed by the assessee stands allowed

ITA 562/ASR/2015[2007-08]Status: DisposedITAT Amritsar14 Feb 2019AY 2007-08

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryi. T. A. No. 562/(Asr)/2015 Assessment Year: 2007-08

For Appellant: Sh. R.K.Sarna, ARFor Respondent: Shri Bhawani Shankar, DR
Section 148Section 271(1)(c)Section 54

section 54 of the Act, the entire capital gain arising from the assets from the transfer of land had escaped assessment. Therefore, he issued notice u/s 148 of the Act and made addition of the capital gains of Rs. 1,83,75,000/- in the hands of the assessee. 4. On appeal, the Ld. CIT(A) dismissed the appeal

SH. SARWAN SINGH PHILLAUR,JALANDHAR vs. THE INCOME TAX OFFICER, JALANDHAR

3
Capital Gains3
Long Term Capital Gains3

In the result, the appeal of the Revenue is dismissed and appeal filed by the assessee stands allowed

ITA 531/ASR/2015[2007-08]Status: DisposedITAT Amritsar14 Feb 2019AY 2007-08

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryi. T. A. No. 562/(Asr)/2015 Assessment Year: 2007-08

For Appellant: Sh. R.K.Sarna, ARFor Respondent: Shri Bhawani Shankar, DR
Section 148Section 271(1)(c)Section 54

section 54 of the Act, the entire capital gain arising from the assets from the transfer of land had escaped assessment. Therefore, he issued notice u/s 148 of the Act and made addition of the capital gains of Rs. 1,83,75,000/- in the hands of the assessee. 4. On appeal, the Ld. CIT(A) dismissed the appeal

SMT. JANAK RANI DHINGRA,HARYANA vs. THE INCOME TAX OFFICER,, MOGA

In the result, the appeal of the assessee is allowed

ITA 294/ASR/2016[2006-07]Status: DisposedITAT Amritsar12 Feb 2019AY 2006-07

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryi. T. A. No. 294/(Asr)/2016 Assessment Year: 2006-07

For Appellant: Sh. P.N. Arora, AdvocateFor Respondent: Sh. Bhawani Shankar, DR
Section 271Section 271(1)(c)Section 274Section 54Section 54F

Capital Gains from sale of residential house as declared by the Assessee. Thereafter, the AO levied penalty u/s 271(1)(c) of the Act of Rs. 1,60,000/- being 100% of the amount of tax sought to be evaded by the assessee on the ground of furnishing of inaccurate particulars of income by the assessee. 4. On appeal

SMT. HARPREET KAUR,JALANDHAR vs. INCOME TAX OFFICER, WARD - 3(4), JALANDHAR

In the result, the appeal of the assessee is allowed

ITA 709/ASR/2017[2013-14]Status: DisposedITAT Amritsar17 Jan 2019AY 2013-14

Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Soodita No.709/Asr./2017 : Asstt. Year : 2013-14 Smt. Harpreet Kaur, Vs Income Tax Officer, C/O V.P. Vijh & Co. Ca, K.K. Ward-3(4), Tower, 1St & 2Nd Floor, Opp. Jalandhar Circuit House, Jalandhar (Appellant) (Respondent) Pan No. Auspk9124B Assessee By : Sh. Sandip Vijh, Ca Revenue By : Sh. Lalit Mohan Jindal, Dr Date Of Hearing : 17.01.2019 Date Of Pronouncement : 17.01.2019

For Appellant: Sh. Sandip Vijh, CAFor Respondent: Sh. Lalit Mohan Jindal, DR
Section 143(1)Section 271Section 271(1)(c)Section 274

capital gain and interest respectively. The AO also initiated the penalty proceedings u/s 271(1)(c) of the Act for furnishing of inaccurate particulars of income. The AO levied the penalty of Rs.1,85,710/-. 4. Being aggrieved the assessee carried the matter to the ld. CIT(A) who sustained the penalty of Rs.1,85,710/- levied

ATC LOGISTICAL SOLUTIONS PRIVATE LIMITED ,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, appeal of the assessee ITA No

ITA 241/ASR/2023[2017-18]Status: DisposedITAT Amritsar31 Oct 2023AY 2017-18

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

Section 115JSection 139Section 143(1)Section 143(3)Section 154Section 250Section 36(1)(va)Section 37(1)Section 40ASection 40A(7)

capital expenditure33 or personal expenses of the assessee), laid out or expended wholly and exclusively33 for the purposes of the business33 or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". 34[35[Explanation 1.]—For the removal of doubts, it is hereby declared that any expenditure incurred

M/S SANT BABA BHAG SINGH MEMORIAL CHARITABLE SOCIETY,JALANDHAR vs. D.C.I.T, CIRCLE - 1 (EXEMPTION), CHANDIGARH

In the result, the assessee’s appeal is partly allowed

ITA 432/ASR/2017[2014-15]Status: DisposedITAT Amritsar27 Feb 2019AY 2014-15

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 432/(Asr)/2017 Assessment Year: 2014-15

For Appellant: Sh. J. S. Bhasin (Adv.)For Respondent: Sh. Sandeep Chauhan, CIT-DR
Section 115BSection 12ASection 133(6)Section 143(3)Section 68

capital outlay. During the current year itself, it purchased fixed assets at Rs.471.77 lacs and repaid borrowings, meeting thus its’ contractual obligation/s in this regard, to the extent of Rs.180.97 lacs, i.e., at a total of Rs.652.74 lacs, which far exceeds the revenue (net income) generated at Rs.228.94 lacs during the year, i.e., even assuming the entire