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35 results for “capital gains”+ Unexplained Moneyclear

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Key Topics

Addition to Income35Section 143(3)30Section 14829Section 153A21Section 6918Section 250(6)16Section 6815Section 10(38)14Section 26312

SMT. SATYAWATI MARWAHA THROUGH LEGAL HEIR SH. CHANDER SHEIKHAR MARWAHA,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeal for Asstt

ITA 346/ASR/2024[2014-15]Status: DisposedITAT Amritsar30 Oct 2025AY 2014-15

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

For Appellant: Sh. Ashray Sarna, C. A
Section 10(38)Section 132Section 144Section 144rSection 147Section 148Section 151Section 250(6)Section 68

capital gain without considering the fact that assessee was a regular investor and has not invested in only one share. 5. That having regard to the facts and circumstances of the case, Hon'ble CIT(A) has erred in law and on facts in confirming the action of Ld. AO in making an addition of Rs.15

Showing 1–20 of 35 · Page 1 of 2

Disallowance8
Long Term Capital Gains7
Natural Justice7

SMT. SATYAWATI MARWAHA THROUGH LEGAL HEIR SH, CHANDER SHEIKHAR MARWAHA,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeal for Asstt

ITA 347/ASR/2024[2015-16]Status: DisposedITAT Amritsar30 Oct 2025AY 2015-16

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

For Appellant: Sh. Ashray Sarna, C. A
Section 10(38)Section 132Section 144Section 144rSection 147Section 148Section 151Section 250(6)Section 68

capital gain without considering the fact that assessee was a regular investor and has not invested in only one share. 5. That having regard to the facts and circumstances of the case, Hon'ble CIT(A) has erred in law and on facts in confirming the action of Ld. AO in making an addition of Rs.15

M/S SHANKAR RICE & GENERAL MILLS ,MOGA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE, MOGA

In the result, the appeal of the assessee is dismissed

ITA 205/ASR/2023[2017-18]Status: HeardITAT Amritsar06 Oct 2023AY 2017-18

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

For Appellant: Sh. Ashwani Kumar & Ms. Muskan GargFor Respondent: Sh. Rajiv Wadhera, Sr. DR
Section 115BSection 133ASection 250(6)Section 69Section 69A

capital gains, nor is it income from ’other sources' because the provisions of sections 69, 69A, 69B and 69C treat unexplained investments, unexplained money

M/S. WORLDWIDE FOURTUNE HOMES ,KATHUA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, JAMMU

In the result, appeal of the assessee ITA No

ITA 197/ASR/2023[2018-19]Status: DisposedITAT Amritsar03 Aug 2023AY 2018-19

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

Section 133ASection 143(3)Section 250Section 250(6)Section 292CSection 69A

Unexplained investment (On-money payment) - A search was conducted in business premises of assessee wherein certain loose slips were recovered, which showed several entries pertaining to cash and cheque transactions in respect of I.T.A. No. 197/Asr/2023 6 Assessment Year: 2018-19 purchase of a property - Assessee accepted in his statement that slip represented on-money payment made for purchase

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

money in the guise of capital gains. D) NATURE OF TRANSACTION: The nature of transaction itself looks suspicious from the manner it has been conducted i.e. the abnormal appreciation in the value of shares, the mode of payment for purchase of shares not doing the transaction through the normal share dealing procedures. The assessee has shown to have received sale

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

money in the guise of capital gains. D) NATURE OF TRANSACTION: The nature of transaction itself looks suspicious from the manner it has been conducted i.e. the abnormal appreciation in the value of shares, the mode of payment for purchase of shares not doing the transaction through the normal share dealing procedures. The assessee has shown to have received sale

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

money in the guise of capital gains. D) NATURE OF TRANSACTION: The nature of transaction itself looks suspicious from the manner it has been conducted i.e. the abnormal appreciation in the value of shares, the mode of payment for purchase of shares not doing the transaction through the normal share dealing procedures. The assessee has shown to have received sale

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

money in the guise of capital gains. D) NATURE OF TRANSACTION: The nature of transaction itself looks suspicious from the manner it has been conducted i.e. the abnormal appreciation in the value of shares, the mode of payment for purchase of shares not doing the transaction through the normal share dealing procedures. The assessee has shown to have received sale

SHRI MOHD MANZOOR,RAJOURI vs. INCOME TAX OFFICER WARD -2 (3), JAMMU

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

ITA 166/ASR/2022[2017-18]Status: HeardITAT Amritsar21 Sept 2023AY 2017-18

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

Section 144Section 250oSection 28Section 44ASection 69A

capital gain tax, Assessing Officer erred in treating said deposit as unexplained investment of assessee [In favour of assessee] e) 2017] 83 taxmann.com 246 (Mumbai - Trib.) IN THE ITAT MUMBAI BENCH ' J'Jaspal Singh Sehgal v. Income-tax Officer WD 21(2)(1), Mumbai* Section 68 of the Income-tax Act, 1961 - Cash credit (Cash) - Assessment year 2009-10 - Where

SHRIMATI SUMAN SABHARWAL,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, JALANDHAR

In the result, all the captioned three appeals of the assessee are

ITA 629/ASR/2019[2014-15]Status: DisposedITAT Amritsar20 Feb 2023AY 2014-15

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

For Appellant: Sh. Ashray Sarna, CAFor Respondent: Sh. Rohit Mehra, CIT-D.R
Section 143(3)Section 153ASection 69C

Unexplained income—Deletion of Addition—Search and seizure operation u/s. 132 was carried out at residential premises of Assessee—Consequent upon search and seizure operation, notice u/s 153A was issued to file return—Assessee filed return declaring income—AO completed assessment u/s. 153A and s. 143(3) and made addition on account of undisclosed income u/s. 69 on basis

SHRIMATI SUMAN SBHARWAL,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2,, JALANDHAR

In the result, all the captioned three appeals of the assessee are

ITA 627/ASR/2019[2012-13]Status: DisposedITAT Amritsar20 Feb 2023AY 2012-13

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

For Appellant: Sh. Ashray Sarna, CAFor Respondent: Sh. Rohit Mehra, CIT-D.R
Section 143(3)Section 153ASection 69C

Unexplained income—Deletion of Addition—Search and seizure operation u/s. 132 was carried out at residential premises of Assessee—Consequent upon search and seizure operation, notice u/s 153A was issued to file return—Assessee filed return declaring income—AO completed assessment u/s. 153A and s. 143(3) and made addition on account of undisclosed income u/s. 69 on basis

SHRIMATI SUMAN SABHARWAL,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, JALANDHAR

In the result, all the captioned three appeals of the assessee are

ITA 628/ASR/2019[2013-14]Status: DisposedITAT Amritsar20 Feb 2023AY 2013-14

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

For Appellant: Sh. Ashray Sarna, CAFor Respondent: Sh. Rohit Mehra, CIT-D.R
Section 143(3)Section 153ASection 69C

Unexplained income—Deletion of Addition—Search and seizure operation u/s. 132 was carried out at residential premises of Assessee—Consequent upon search and seizure operation, notice u/s 153A was issued to file return—Assessee filed return declaring income—AO completed assessment u/s. 153A and s. 143(3) and made addition on account of undisclosed income u/s. 69 on basis

SHRI GURBINDER SINGH MAHAL,AMRITSAR vs. INCOME TAX OFFICER WARD-IV ( 2), AMRITSAR

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

ITA 22/ASR/2023[2014-15]Status: DisposedITAT Amritsar24 Apr 2023AY 2014-15

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

Section 144Section 144oSection 250(4)Section 250(6)Section 250o

capital amount of refund due to him or to gain on account of sale of properties, his father Sh. Harjit Singh such other person; (PAN: FPHPS8530E) is ready to pay taxes on the same.’ (b) every person who is deemed to The appellant is not deemed to the assessee on behalf of the father Sh. be an assessee under

SHRI RAM DAS,NAWANSHAHAR vs. INCOME TAX OFFICER, NAWANSHAHAR

In the result, ground no. 1 and 2 are dismissed and Ground nos

ITA 550/ASR/2019[2011-12]Status: DisposedITAT Amritsar07 Jun 2023AY 2011-12

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

Section 144Section 148Section 250

money received from I.T.A. No.550/Asr/2019 3 Assessment Year: 2011-12 sale of agricultural land is also agricultural income and was not justified to uphold the addition of Rs. 17,07,500/- by treating the same as income from other sources. 5. Without prejudice to ground no. 3 & 4, the Ld. Commissioner of Income Tax (Appeals)-1, Jalandhar erred

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. HORIZON BUILDCON PVT. LTD,, JAMMU

In the result, the appeals of the Revenue in I

ITA 672/ASR/2014[201-11]Status: DisposedITAT Amritsar22 Mar 2023

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

For Appellant: Sh. Hitendra Bhauraoji Ninawe, CIT DRFor Respondent: S/Sh. P.N. Arora, Adv., Pradeep
Section 69

unexplained income and the same was added to the taxable income of the assessee. When such addition was challenged before CIT(Appeals), it also concurred with the findings of Assessing Officer by holding that the entire evidence was to show that Satakhat or the agreement to sell proved the market rate of the land at Rs.2.80 per bighas, and therefore

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. HORIZON BUILDCON PVT. LTD,, JAMMU

In the result, the appeals of the Revenue in I

ITA 673/ASR/2014[2011-12]Status: DisposedITAT Amritsar22 Mar 2023AY 2011-12

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

For Appellant: Sh. Hitendra Bhauraoji Ninawe, CIT DRFor Respondent: S/Sh. P.N. Arora, Adv., Pradeep
Section 69

unexplained income and the same was added to the taxable income of the assessee. When such addition was challenged before CIT(Appeals), it also concurred with the findings of Assessing Officer by holding that the entire evidence was to show that Satakhat or the agreement to sell proved the market rate of the land at Rs.2.80 per bighas, and therefore

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. HORIZON BUILDCON PVT. LTD,, JAMMU

In the result, the appeals of the Revenue in I

ITA 671/ASR/2014[2009-10]Status: DisposedITAT Amritsar22 Mar 2023AY 2009-10

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

For Appellant: Sh. Hitendra Bhauraoji Ninawe, CIT DRFor Respondent: S/Sh. P.N. Arora, Adv., Pradeep
Section 69

unexplained income and the same was added to the taxable income of the assessee. When such addition was challenged before CIT(Appeals), it also concurred with the findings of Assessing Officer by holding that the entire evidence was to show that Satakhat or the agreement to sell proved the market rate of the land at Rs.2.80 per bighas, and therefore

SHRI ONKAR SINGH ,HOSHIARPUR vs. INCOME TAX OFFICER, WARD-3, HOSHIARPUR

In the result, both the appeals of the assessee ITA No

ITA 48/ASR/2018[2008-09]Status: DisposedITAT Amritsar07 Aug 2023AY 2008-09

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

Section 143(3)Section 148Section 250Section 68

money in his bank. The Learned CIT (A) rejected the appeal of the Assessee treating amount of Rs. 3,23,50,0007- as an unexplained income on account of unexplained cash U7S 68 of the LT.Act 1961. 7. That the assessee has duly explained the source of deposit in the bank, now it is for the department to prove that

SHRI ONKAR SINGH,HOSHIARPUR vs. INCOME TAX OFFICER, WARD-3, HOSHIARPUR

In the result, both the appeals of the assessee ITA No

ITA 47/ASR/2018[2007-08]Status: DisposedITAT Amritsar07 Aug 2023AY 2007-08

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

Section 143(3)Section 148Section 250Section 68

money in his bank. The Learned CIT (A) rejected the appeal of the Assessee treating amount of Rs. 3,23,50,0007- as an unexplained income on account of unexplained cash U7S 68 of the LT.Act 1961. 7. That the assessee has duly explained the source of deposit in the bank, now it is for the department to prove that

BHUPENDRA FLOUR MILLS PVT LTD,BATHINDA vs. ITO, WARD 1(1), BATHINDA, BATHINDA

The appeal stands partly allowed in terms of out above order

ITA 54/ASR/2025[2017-18]Status: DisposedITAT Amritsar20 Feb 2026AY 2017-18

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Shri Udayandasgupta, Jm आयकरअपीलसं. / Ita No.54/Asr/2025 (िनधा"रणवष" / Assessment Year: 2017-18) M/S Bhupendra Flour Mills Pvt Ltd. Ito Ward - 1(1) बनाम/ Railway Road Central Revenue Building Bhatinda, Punjab – 151001 Civil Lines, Bhatinda Vs. Punjab - 151001 "ायीलेखासं./जीआइआरसं./Pan/Gir No. Aaccb-6192-P (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Sudhir Sehgal (Advocate) - Ld. Ar " थ"कीओरसे/Respondent By : Sh. Farhat Khan (Cit) – Ld. Dr (Virtual) सुनवाईकीतारीख/Date Of Hearing : 05-02-2026 घोषणाकीतारीख /Date Of Pronouncement 20.02.2026 : आदेश / O R D E R

For Appellant: Sh. Sudhir Sehgal (Advocate) - Ld. ARFor Respondent: Sh. Farhat Khan (CIT) – Ld. DR (Virtual)
Section 10(37)Section 14Section 143(3)Section 145B(1)Section 194LSection 2Section 2(24)Section 36Section 4Section 45(5)

capital gains. (iv) A conjoint reading of Section 2(24), Section 2(28A), Section 4, Section 10(37), Section 14, Section 45(5), Section 56(2)(viii), Section 145B(1) and Section 194LA of the Act makes it abundantly clear that any income which arises or is deemed to arise or accrue in India is chargeable