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35 results for “bogus purchases”+ Section 127clear

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Key Topics

Section 153A46Section 14843Section 143(3)36Section 13231Search & Seizure28Section 8027Addition to Income17Section 149(1)(b)16Section 139(1)

SUDHIR BABU CHALASANI,HYDERABAD vs. INCOME TAX OFFICER, WARD-17(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

ITA 1352/HYD/2025[2017-18]Status: DisposedITAT Hyderabad19 Nov 2025AY 2017-18

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 10(38)Section 69A

127 is incorrect and baseless. The authorities below failed to appreciate that the shares were purchased at a low price during the year 2000 and sold after a gap of more than 10 years at an average price of Rs. 119/- per share which is not abnormal by any means when compared stock market returns in terms of index movement

SUDHIR BABU CHALASANI,HYDERABAD vs. INCOME TAX OFFICER, WARD-17(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

ITA 1348/HYD/2025[2013-14]Status: DisposedITAT Hyderabad

Showing 1–20 of 35 · Page 1 of 2

14
Penalty14
Disallowance10
Section 69A9
19 Nov 2025
AY 2013-14

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 10(38)Section 69A

127 is incorrect and baseless. The authorities below failed to appreciate that the shares were purchased at a low price during the year 2000 and sold after a gap of more than 10 years at an average price of Rs. 119/- per share which is not abnormal by any means when compared stock market returns in terms of index movement

SUDHIR BABU CHALASANI,HYDERABAD vs. INCOME TAX OFFICER, WARD-17(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

ITA 1351/HYD/2025[2016-17]Status: DisposedITAT Hyderabad19 Nov 2025AY 2016-17

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 10(38)Section 69A

127 is incorrect and baseless. The authorities below failed to appreciate that the shares were purchased at a low price during the year 2000 and sold after a gap of more than 10 years at an average price of Rs. 119/- per share which is not abnormal by any means when compared stock market returns in terms of index movement

SUDHIR BABU CHALASANI,HYDERABAD vs. INCOME TAX OFFICER, WARD-17(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

ITA 1349/HYD/2025[2014-15]Status: DisposedITAT Hyderabad19 Nov 2025AY 2014-15

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 10(38)Section 69A

127 is incorrect and baseless. The authorities below failed to appreciate that the shares were purchased at a low price during the year 2000 and sold after a gap of more than 10 years at an average price of Rs. 119/- per share which is not abnormal by any means when compared stock market returns in terms of index movement

EXEL RUBBER PRIVATE LIMITED,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYDERABAD

In the result, appeal filed by the assessee is allowed

ITA 1894/HYD/2025[2014-15]Status: DisposedITAT Hyderabad18 Feb 2026AY 2014-15

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha G.आ.अपी.सं /Ita No.1894/Hyd/2025 (िनधा"रण वष"/Assessment Year: 2014-15) M/S. Exel Rubber (P) Ltd Vs. Dy.Cit Hyderabad Central Circle 1(2) Pan:Aaace4495J Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M.V. Prasad, Ca राज" व "ारा/Revenue By: Dr. Narendra Kumar Naik, Cit (Dr) सुनवाई की तारीख/Date Of Hearing: 20/01/2026 घोषणा की तारीख/Pronouncement: 18/02/2026 आदेश/Order Per Manjunatha, G. A.M. This Appeal Is Filed By The Assessee Is Directed Against The Order Passed By The Learned Commissioner Of Income Tax (Appeals)-11 Hyderabad, Dated 11/10/2025 For The A.Y 2014-15. 2. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri M.V. Prasad, CAFor Respondent: Dr. Narendra Kumar Naik, CIT (DR)
Section 132Section 143(2)Section 143(3)Section 147Section 148Section 149(1)Section 69A

127 Taxmann.com 290. Therefore, if law requires something to be done in a particular manner, then it must be done in that manner; if it is not done in that manner then it would have no existence in the eyes law. By following the said principles, the Hon'ble jurisdictional High Court in the case of Kankanala Ravindra Reddy

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3)., HYDERABAD vs. SAI SUDHIR INFRASTRUCTURES LIMITED, HYDERABAD

In the result, a) ITA Nos

ITA 1384/HYD/2017[2011-12]Status: DisposedITAT Hyderabad30 Aug 2019AY 2011-12

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(3), HYDERABAD vs. ASR ENGINEERING AND PROJECTS LIMITED , HYDERABAD

In the result, a) ITA Nos

ITA 225/HYD/2019[2012-13]Status: DisposedITAT Hyderabad30 Aug 2019AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(3), HYDERABAD vs. ASR ENGINEERING AND PROJECTS LIMITED, HYDERABAD

In the result, a) ITA Nos

ITA 223/HYD/2019[2010-11]Status: DisposedITAT Hyderabad30 Aug 2019AY 2010-11

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3)., HYDERABAD vs. SAI SUDHIR INFRASTRUCTURES LIMITED, HYDERABAD

In the result, a) ITA Nos

ITA 1385/HYD/2017[2012-13]Status: DisposedITAT Hyderabad30 Aug 2019AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

ASR ENGINERING & PROJECTS LIMITED (FORMERLY SAI SUDHIR INFRASTRUCTURES LIMITED), ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), HYDERABAD

In the result, a) ITA Nos

ITA 1132/HYD/2017[2007-08]Status: DisposedITAT Hyderabad30 Aug 2019AY 2007-08

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

ASR ENGINERING & PROJECTS LIMITED (FORMERLY SAI SUDHIR INFRASTRUCTURES LIMITED), ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), HYDERABAD

In the result, a) ITA Nos

ITA 1133/HYD/2017[2008-09]Status: DisposedITAT Hyderabad30 Aug 2019AY 2008-09

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

ASR ENGINERING & PROJECTS LIMITED (FORMERLY SAI SUDHIR INFRASTRUCTURES LIMITED), ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), HYDERABAD

In the result, a) ITA Nos

ITA 1135/HYD/2017[2010-11]Status: DisposedITAT Hyderabad30 Aug 2019AY 2010-11

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

ASR ENGINERING & PROJECTS LIMITED (FORMERLY SAI SUDHIR INFRASTRUCTURES LIMITED), ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), HYDERABAD

In the result, a) ITA Nos

ITA 1136/HYD/2017[2011-12]Status: DisposedITAT Hyderabad30 Aug 2019AY 2011-12

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(3), HYDERABAD vs. ASR ENGINEERING AND PROJECTS LIMITED , HYDERABAD

In the result, a) ITA Nos

ITA 222/HYD/2019[2009-10]Status: DisposedITAT Hyderabad30 Aug 2019AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

DY. COMMSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3)., HYDERABAD vs. SAI SUDHIR INFRASTRUCTURES LIMITED., HYDERABAD

In the result, a) ITA Nos

ITA 1382/HYD/2017[2009-10]Status: DisposedITAT Hyderabad30 Aug 2019AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(3), HYDERABAD vs. ASR ENGINEERING AND PROJECTS LIMITED, HYDERABAD

In the result, a) ITA Nos

ITA 224/HYD/2019[2011-12]Status: DisposedITAT Hyderabad30 Aug 2019AY 2011-12

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(3), HYDERABAD vs. ASR ENGINEERING AND PROJECTS LIMITED, HYDERABAD

In the result, a) ITA Nos

ITA 226/HYD/2019[2012-13]Status: DisposedITAT Hyderabad30 Aug 2019AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

ASR ENGINERING & PROJECTS LIMITED (FORMERLY SAI SUDHIR INFRASTRUCTURES LIMITED), ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), HYDERABAD

In the result, a) ITA Nos

ITA 1134/HYD/2017[2009-10]Status: DisposedITAT Hyderabad30 Aug 2019AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3)., HYDERABAD vs. SAI SUDHIR INFRASTRUCTURES LIMITED, HYDERABAD

In the result, a) ITA Nos

ITA 1383/HYD/2017[2010-11]Status: DisposedITAT Hyderabad30 Aug 2019AY 2010-11

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

Section 132Section 139(1)Section 143(3)Section 153A

purchase' and supply of stone and stone dust for works at Paradip. The circumstances of the transactions - including supply of material at Paradip, were identical. He claimed to have met one Mr. Sahoo and Mr. Mohanti at Paradip who agreed to provide the required quantities of stone and stone-dust. Shri Chandrakanth Reddy states that he does not know their

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(2), HYDERABAD vs. SUSHEE INFRA & MINING LIMITED, HYDERABAD

In the result, appeal of the assessee in ITA No

ITA 730/HYD/2020[2014-15]Status: DisposedITAT Hyderabad27 Dec 2023AY 2014-15

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

For Appellant: Shri S. Rama Rao, ARFor Respondent: Ms. TH. Vijaya Lakshmi, CIT-DR
Section 132Section 143(3)Section 153ASection 80

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5