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16 results for “capital gains”+ Section 234Aclear

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Key Topics

Section 234C17Addition to Income14Section 143(3)12Section 153A10Capital Gains10Section 54F9Section 50C8Section 1428Section 1487

IDFC FINANCIAL HOLDING COMPANY LIMITED,CHENNAI vs. DCIT, CORPORATE CIRCLE-2(2), HENNAI

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

ITA 241/CHNY/2024[2019-20]Status: DisposedITAT Chennai04 Dec 2024AY 2019-20

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

For Appellant: Mr.Ketan K. Ved, CAFor Respondent: Ms.R. Anita, Addl.CIT
Section 115JSection 143(1)Section 234C

section 234C clearly deals with the situation of assessee. As there is no challenge to the fact that assessee was prompt and regular in calculation and payment of advance tax u/s 234A, 234B and 234C. This fact is also not under challenge that to unanticipated transactions under the head capital gains

PLR TEXTILES LTD.,CHENNAI vs. THE ACIT ,CORPORATE CIRCLE-5(2), CHENNAI

Section 56(2)(vii)6
Natural Justice2
Double Taxation/DTAA2

In the result the appeal of the assessee is partly allowed

ITA 133/CHNY/2021[2005-06]Status: DisposedITAT Chennai27 Mar 2025AY 2005-06

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकरअपीलसं./Ita No.: 133/Chny/2021 िनधा"रणवष" / Assessment Year: 2005-06 Plr Textiles Ltd., The Acit, 8K, Century Plaza, V. Corporate Circle -5(2), 560-562, Mount Road, Chennai – 641 034. Chennai – 600 018. [Pan: Aaacp-6536-D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ"कीओरसे/Appellant By : Mr. R. Vijayaraghavan, Advocate ""थ"कीओरसे/Respondent By : Ms. Anitha, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 06.02.2025 घोषणा की तारीख/Date Of Pronouncement : 27.03.2025 आदेश /O R D E R Per S. R. Raghunatha: This Appeal By The Assessee Is Filed Against The Order Of The Commissioner Of Income Tax (Appeals)-3, Chennai, Vide Ita No.153/Cit(A)-3/2018-19For The Assessment Year 2005-06, Dated 13.03.2020. 2. At The Outset, We Find That There Is A Delay Of 346 Days In Appeal Filed By The Assessee, For Which Petition For Condonation Of Delay Along With Reasons For Delay Has Been Filed. After Considering The Petition Filed By The Assessee, Reason For Delay In Filing The Appeal Was Due To Covid-19 Pandemic & Also Hearing Both The :-2-:

For Appellant: Mr. R. Vijayaraghavan, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 143(1)Section 143(3)Section 41(1)

section 234A, 234B and 234C are charged as per law. Demand notice u/s 156 is enclosed. 7. Aggrieved by the order of the AO, the assessee preferred an appeal before the ld. CIT(A) – 3, Chennai. Before the ld.CIT(A), the assessee filed a detailed written submission in respect of delay in passing the order giving effect

SMART INFORMATION WORLDWIDE INC,CHENNAI vs. ACIT INTERNATIONAL TAXATION 2(2), CHENNAI

The appeal stand allowed in terms of our above order

ITA 330/CHNY/2024[2016-17]Status: DisposedITAT Chennai06 Aug 2024AY 2016-17

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.330/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2016-17) M/S. Smart Information Worldwide Inc. Dcit बनाम/ 49 Sixth Main Road, International Taxation -2(2) Vs. Raja Annamalaipuram, Chennai-600 028. Chennai-6. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-8497-G (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Appellant By : Shri V. Ravichandran (Ca)- Ld.Ar " थ"कीओरसे/Respondent By : Shri Ar.V.Sreenivasan (Addl.Cit)-Ld. Sr. Dr सुनवाई की तारीख/Date Of Hearing : 20-06-2024 घोषणा की तारीख /Date Of Pronouncement : 06-08-2024

For Appellant: Shri V. Ravichandran (CA)- Ld.ARFor Respondent: Shri AR.V.Sreenivasan (Addl.CIT)-Ld. Sr. DR
Section 143(3)Section 195Section 48Section 50CSection 50D

capital gains were to be computed based on the fair market value, such fair market value has to be determined in accordance with Rule 11UA. 6. The learned Assessing Officer has erred in applying section 50D in case where the sale consideration is determinable. 7. The learned Assessing Officer erred in levying interest under sections 234A

SMART INFORMATION WORLDWIDE INC,CHENNAI vs. DCIT INTERNATIONAL TAXATION 2(2), CHENNAI

The appeal stand allowed in terms of our above order

ITA 329/CHNY/2024[2014-15]Status: DisposedITAT Chennai06 Aug 2024AY 2014-15

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.329/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2014-15) M/S. Smart Information Worldwide Inc. Dcit बनाम/ 49 Sixth Main Road, International Taxation -2(2) Vs. Raja Annamalaipuram, Chennai-600 028. Chennai-6. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-8497-G (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Appellant By : Shri V. Ravichandran (Ca)- Ld.Ar " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit)-Ld. Sr. Dr सुनवाई की तारीख/Date Of Hearing : 20-06-2024 घोषणा की तारीख /Date Of Pronouncement : 06-08-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri V. Ravichandran (CA)- Ld.ARFor Respondent: Shri Nilay Baran Som (CIT)-Ld. Sr. DR
Section 143(3)Section 195Section 48Section 50CSection 50D

capital gains were to be computed based on the fair market value, such fair market value has to be determined in accordance with Rule 11UA. 6. The learned Assessing Officer has erred in applying section 50D in case where the sale consideration is determinable. 7. The learned Assessing Officer erred in levying interest under sections 234A

INCOME TAX OFFICER, CHENNAI vs. ROHITKUMAR NEMCHAND PIPARIA, CHENNAI

The appeal stand allowed in terms of our above order

ITA 1344/CHNY/2023[2008-09]Status: DisposedITAT Chennai31 Dec 2024AY 2008-09

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1344/Chny/2023 (िनधा*रण वष* / Assessment Year: 2008-09) Ito Shri Rohitkumar Nemchand Piparia बनाम International Taxation Ward-2(1) #34 (Old #77), Meddox Street, / Vs. Chennai. Choolai, Chennai-600 112. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Akzpp-0661-M (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Assessee By : Shri T. Banusekar & Ms. Samyuktha Banusekar (Advocates) - Ld. Ars " थ"कीओरसे/Revenue By : Shri Nilay Baran Som (Cit) - Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 07-10-2024 घोषणाकीतारीख /Date Of Pronouncement : 31-12-2024 आदेश / O R D E R

For Appellant: Shri T. Banusekar & Ms. SamyukthaFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 148Section 234BSection 234C

Capital Gain on Shares Sales Rs.229,96,19,403/- Less: Purchases Rs.189,63,15,388/- Rs.40,33,04,015/- Income from other sources Rs. 3,80,226/- Rs.40,36,84,241/- Less: Deduction u/s 80C Rs. 70,000/- Assessed Total Income Rs.40,36,14,241/- The above computation is not in dispute. The subject matter of appeal is computation

SHRI V. NATARAJAN (INDIVIDUAL),RASIPURAM vs. ACIT, CENTRAL CIRCLE,, SALEM

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

ITA 1801/CHNY/2024[2015-16]Status: DisposedITAT Chennai31 Oct 2025AY 2015-16

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकर अपील सं./Ita Nos.1535 & 1801/Chny/2024 ननिाारण वर्ा/Assessment Years: 2016-17 & 2015-16 V. Varadappan Natarajan/ The Acit, V. Natarajan (Individual), Central Circle, No.64-C, Rotary Nagar, Salem. Rasipuram Tamil Nadu-637 408. [Pan: Acgpn1477Q] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By : Mr.T.S. Lakshmi Venkataraman, Fca (Virtual) प्रत्यर्थी की ओर से /Respondent By : Mr.Shiva Srinivas, Cit सुनवाईकीतारीख/Date Of Hearing : 09.10.2025 घोर्णाकीतारीख /Date Of Pronouncement : 31.10.2025

For Appellant: Mr.T.S. LakshmiFor Respondent: Mr.Shiva Srinivas, CIT
Section 115BSection 143(3)Section 153ASection 250Section 250(6)Section 37Section 68

capital gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 45: ITA Nos.1535 & 1801/Chny/2024 (AYs 2016-17 & 2015-16) Varadappan Natarajan/ V. Natarajan (Individual) :: 28 :: 69[Provided that nothing contained in this sub-section shall apply where- (a) the assessee (i) owns 70 more than one residential

VARADAPPAN NATARAJAN,RASIPURAM vs. ACIT, CENTRAL CIRCLE,, SALEM

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

ITA 1535/CHNY/2024[2016-17]Status: DisposedITAT Chennai31 Oct 2025AY 2016-17

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकर अपील सं./Ita Nos.1535 & 1801/Chny/2024 ननिाारण वर्ा/Assessment Years: 2016-17 & 2015-16 V. Varadappan Natarajan/ The Acit, V. Natarajan (Individual), Central Circle, No.64-C, Rotary Nagar, Salem. Rasipuram Tamil Nadu-637 408. [Pan: Acgpn1477Q] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By : Mr.T.S. Lakshmi Venkataraman, Fca (Virtual) प्रत्यर्थी की ओर से /Respondent By : Mr.Shiva Srinivas, Cit सुनवाईकीतारीख/Date Of Hearing : 09.10.2025 घोर्णाकीतारीख /Date Of Pronouncement : 31.10.2025

For Appellant: Mr.T.S. LakshmiFor Respondent: Mr.Shiva Srinivas, CIT
Section 115BSection 143(3)Section 153ASection 250Section 250(6)Section 37Section 68

capital gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 45: ITA Nos.1535 & 1801/Chny/2024 (AYs 2016-17 & 2015-16) Varadappan Natarajan/ V. Natarajan (Individual) :: 28 :: 69[Provided that nothing contained in this sub-section shall apply where- (a) the assessee (i) owns 70 more than one residential

RAMANATHAN ADAIKALAVAN,COIMBATORE, TAMIL NADU vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSESSMENT CENTRE, NEW DELHI

In the result, the appeal of the assessee is allowed

ITA 557/CHNY/2024[2014-15]Status: DisposedITAT Chennai06 Dec 2024AY 2014-15

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./ Ita No.557/Chny/2024 निर्ाारण वर्ा /Assessment Years: 2014-15 Ramanathan Adaikalavan, Deputy Commissioner Of Income Tax, No.80, Ansari Street, Ram Nagar, Non-Corporate Circle-2, Coimbatore-641009. Coimbatore [Pan: Aanpa6846P] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant) अपीलार्थी की ओर से/ Assessee By : Shri P.M.Kathir, Advocate. प्रत्यर्थी की ओर से /Revenue By : Ms.Gouthami Manivasagam, Jcit सुिवाई की तारीख/Date Of Hearing : 05.11.2024 घोर्णा की तारीख /Date Of Pronouncement : 06.12.2024 आदेश / O R D E R Per Amitabh Shukla, A.M :

For Appellant: Shri P.M.Kathir, AdvocateFor Respondent: Ms.Gouthami Manivasagam, JCIT
Section 143(3)Section 147Section 148Section 250Section 55A

capital gain as envisaged in section 50. 4. Enquiries made by the AO as sequel to information received: NA 5. Findings of the assessing officer :- 5 -: If the facts mentioned in paras 2 and 3 are considered, then there would be an additional demand of Rs. 1,77, 18,004 besides interest u/s 234A

ZANNATHU FIRDOUSE,CHENNAI vs. ITO, INTNL. TAXN WARD-2(2), CHENNAI

In the result, appeal filed by the assessee is allowed

ITA 422/CHNY/2023[2012-13]Status: DisposedITAT Chennai31 Aug 2023AY 2012-13

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकर अपील सं./Ita No.: 422/Chny/2023 िनधा"रण वष" / Assessment Year: 2012-13 Zannathul Firdouse, The Income Tax Officer, Flat C-104, Raheja Regency, V. International Taxation Ward - 147, Santhome High Road, 2(2), R A Puram, Chennai. Chennai – 600 028. [Pan: Aadpz-6639-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. B. Ramakrishna, Fca : Shri. D. Hema Bhupal, Jcit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 28.08.2023 घोषणा क" तारीख/Date Of Pronouncement : 31.08.2023 आदेश /O R D E R

For Appellant: Shri. B. Ramakrishna, FCA
Section 147Section 234Section 234ASection 54F

234A of the Act, in consequent to the above upheld denial of exemption claimed. 6. For that the Learned Commissioner of Income Tax (Appeals) erred in confirming the interest levied u/s 2348 of the Act, in consequent to the above upheld denial of exemption claimed. 7. For these grounds and such other grounds that may be adduced before or during

M/S. CASTLEWICK FZE,DUBAI vs. ACIT,INTERNATIONAL TAXATION, CIRCLE-1(1), CHENNAI

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

ITA 459/CHNY/2025[2018-19]Status: DisposedITAT Chennai11 Jun 2025AY 2018-19
Section 139Section 143(2)Section 144C(1)Section 148Section 201Section 201(1)Section 234ASection 9(1)(vii)

gains, etc. There is no specific Article dealing with\n'FTS'.\nArticle 23 – deals with the taxability of other income, i.e. items of income\nnot dealt with in the foregoing Articles of the DTAA i.e. 6to 22. As\npointed out by the learned Authorised Representative, Article 23 would\ncover incomes like alimony, income from gambling, lottery etc. The\nclassification

K.PONNI,CHENNAI vs. ACIT, NON-CORPORATE CIRCLE-5, CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1123/CHNY/2022[2012-2013]Status: DisposedITAT Chennai23 Aug 2023AY 2012-2013

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.1123/Chny/2022 िनधा"रण वष"/Assessment Year: 2012-13 K. Ponni, Vs. The Assistant Commissioner Of No. 20/51, Vasantha Avenue, Income Tax, Mrc Nagar, R A Puram, Non-Corporate Circle – 5, Chennai 600 028. Chennai. [Pan:Aeapp5038D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri H. Yeshwanth Kumar, Ca ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.08.2023 घोषणा की तारीख /Date Of Pronouncement : 23.08.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi, Dated 31.10.2022 Relevant To The Assessment Year 2012-13. 2. Brief Facts Of The Case Are That The Assessee Filed The Return Of Income For The Assessment Year 2012-13 On 20.12.2012 Declaring An Income Of ₹.60,00,700/-. As Per Information Received From Dit (Inv.) That 2

For Appellant: Shri H. Yeshwanth Kumar, CAFor Respondent: Shri D. Hema Bhupal, JCIT
Section 143(3)Section 148Section 54Section 56

capital gain from sale of land. 7. For that the Assessing Officer failed to appreciate that no assessment can be framed without determining the head under which the purported income is assessable. 8. For that the appellant object to the levy of interest under section 234A

TIRUCHANGODU RAMASAMY KHANNAIYANN SARASUWATHI,COIMBATORE vs. DCIT, CENTRAL CIRCLE-1,, COIMBATORE

ITA 3135/CHNY/2025[2014-15]Status: DisposedITAT Chennai04 Mar 2026AY 2014-15

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunatha

For Appellant: Shri. T. Banusekar, AdvocateFor Respondent: Ms. T. Mythili, JCIT
Section 142A(6)Section 143(3)Section 234ASection 250Section 50CSection 56(2)(vii)

234A and 234C of the Income Tax Act. PRAYER For these grounds raised and such other grounds that may be raised, may be altered, amended or modified, with the leave of the Hon’ble Tribunal before or during the hearing of the appeal, it is most humbly prayed that the Hon’ble Tribunal may be pleased to: a) Delete

RAJKANWAR KATARIA,CHENNAI vs. ITO, NCW-10(5), CHENNAI

In the result, the appeals of the assesse is allowed for statistical purposes

ITA 441/CHNY/2025[2016-17]Status: DisposedITAT Chennai30 Apr 2025AY 2016-17

Bench: Shri George George K & Shri Amitabh Shuklaआयकर अपील सं./Ita No.441/Chny/2025 Assessment Years: 2016-17 Mrs.Rajkanwar Kataria, Income Tax Officer, Tower No.4, Flat No.G-03, No.4,5,6 Non-Corporate Ward-10(5), North Town Estate, Binny Mills, Chennai. Stephenson Road, Jamlaia, Chennai-600 012. [Pan: Aalpk5671N] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Shri M.Murugaboopathy, Advocate प्रत्यर्थी की ओर से /Revenue By : Ms.Gowthami Manivasagam, Jcit सुनवाई की तारीख/Date Of Hearing : 23.04.2025 घोषणा की तारीख /Date Of Pronouncement : 30.04.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

For Appellant: Shri M.Murugaboopathy, AdvocateFor Respondent: Ms.Gowthami Manivasagam, JCIT
Section 234ASection 50CSection 56(2)(vii)

capital gains, adoption of stamp duty valuation invoking provisions of section 56(2)(vii)(c ), addition u/s 50C and charging of income u/s 234A

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. NEELARAJ VINOTH, PERAMBALUR

In the result, the appeal of the assessee is dismissed

ITA 1982/CHNY/2024[2017-18]Status: DisposedITAT Chennai18 Feb 2025AY 2017-18
For Appellant: Shri. G. Baskar, Advocate &For Respondent: Shri. R. Clement Ramesh Kumar, CIT
Section 143(3)Section 153CSection 153DSection 154Section 234A

capital gains from the sale of these shares\nas bogus income of the assessee. On appeal to the ITAT, the\nHon'ble tribunal deleted the addition by stating as under;\n"14. With the assistance of the Id. Representatives we have gone through\nthe record carefully. Admittedly, nothing was found during the course of\nsearch except a warning letter from

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

ITA 2577/CHNY/2025[2018-19]Status: DisposedITAT Chennai09 Mar 2026AY 2018-19
Section 132Section 142Section 142(1)Section 143(2)Section 153A

Capital Gain as returned Rs. 7,13,052/-\nD. Income from Other Sources Rs. 12,29,325/-\nas returned\nE. Unexplained money (as in paras 12.1 to 12.5) Rs. 3,00,000/-\nE. Foreign travel expenditure added Rs. 1,50,000/-\nu/s 69C (as in para 13.1 to 13.6)\nGross Total income Rs. 1,35,62,191/-\nLess: Deduction under

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

ITA 2570/CHNY/2025[2011-12]Status: DisposedITAT Chennai09 Mar 2026AY 2011-12
Section 132Section 142Section 142(1)Section 143(2)Section 153A

Capital Gain as returned\nD. Income from Other Sources Rs. 12,29,325/-\nas returned\nE. Unexplained money (as in paras 12.1 to 12.5) Rs. 3,00,000/-\nE. Foreign travel expenditure added Rs. 1,50,000/-\nu/s 69C (as in para 13.1 to 13.6)\nGross Total income Rs. 1,35,62,191/-\nLess: Deduction under Chapter