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3 results for “bogus purchases”+ Section 43Cclear

Sorted by relevance

Kolkata6Jaipur3Hyderabad2Bangalore2Chandigarh1Chennai1Jodhpur1Delhi1

Key Topics

Section 1485Section 1444Section 271(1)(c)4Section 69A3Addition to Income3Section 143(2)2Section 1472Section 37(1)2Section 44A2

MUKESH SONI,JAIPUR vs. INCOME TAX OFFICER, WARD 5(1), JAIPUR

In the result, appeal of the assessee is allowed

ITA 46/JPR/2023[2017-18]Status: DisposedITAT Jaipur26 Apr 2023AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. Dheeraj Borad (CA)For Respondent: Smt Monisha Choudhary (Addl. CIT) a
Section 142(1)Section 143(2)Section 143(3)Section 69A

purchaser. 16. It is further submitted that treatment of cash deposit of Rs. 32,71,000 (Out of total cash deposit of Rs. 33,71,000 during demonetization period) as unexplained income and consequentially adding it in the total income of assessee u/s. 68 of the IT Act is in utter disregard of provisions of section

Penalty2

SH. HARI PRAKASH GUPTA,JAIPUR vs. ITO, WARD-1(2), JAIPUR, JAIPUR

The appeal stands allowed

ITA 772/JPR/2025[2010-11]Status: DisposedITAT Jaipur18 Sept 2025AY 2010-11

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

For Appellant: Shri P. C. Parwal, CAFor Respondent: Shri Gautam Singh Choudhary, JCIT
Section 144Section 147Section 148Section 271(1)(c)Section 37(1)Section 44A

purchase and sale of real estate and flats, it was held that the direction of the Tribunal to the AO to take 25% of the sale proceeds received in cash as assessee's income rather than making addition of entire amount of sale proceeds received in cash is sustainable. In such cases, not the entire receipt but only the profit

SH. HARI PRAKASH GUPTA,JAIPUR vs. ITO, WARD-1(2), JAIPUR, JAIPUR

ITA 771/JPR/2025[2010-11]Status: DisposedITAT Jaipur18 Sept 2025AY 2010-11
For Appellant: Shri P. C. Parwal, CAFor Respondent: Shri Gautam Singh Choudhary, JCIT
Section 144Section 147Section 148Section 271(1)(c)Section 37(1)Section 44A

purchase and sale of real\nestate and flats, it was held that the direction of the Tribunal to the AO to take\n25% of the sale proceeds received in cash as assessee's income rather than\nmaking addition of entire amount of sale proceeds received in cash is\nsustainable. In such cases, not the entire receipt but only the profit