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54 results for “capital gains”+ Search & Seizureclear

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Key Topics

Addition to Income30Section 143(3)27Search & Seizure25Section 6821Section 25020Section 143(2)19Section 26316Long Term Capital Gains14Section 13213Section 132(1)

M/S. NISHIT AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 983/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

search and seizure operation u/s 132(4) at his residential premises on 21.01.2015 when in reply to Question No. 10 he mentioned that 246 companies are managed and controlled by him. In reply to Question No. 16, it was stated by him that he was providing accommodation entries in the form of long term capital gain

PRATIK AGARWAL BENEFICIARY TRUST ,KOLKATA vs. ACIT, C.C.-3(1), , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 2068/KOL/2018[2014-15]Status: DisposedITAT Kolkata

Showing 1–20 of 54 · Page 1 of 3

12
Disallowance11
Section 14810
14 Jul 2023
AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

search and seizure operation u/s 132(4) at his residential premises on 21.01.2015 when in reply to Question No. 10 he mentioned that 246 companies are managed and controlled by him. In reply to Question No. 16, it was stated by him that he was providing accommodation entries in the form of long term capital gain

M/S. GATEWAY FINANCIAL SERVICES LTD., ,KOLKATA vs. ACIT, CC - 3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 982/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

search and seizure operation u/s 132(4) at his residential premises on 21.01.2015 when in reply to Question No. 10 he mentioned that 246 companies are managed and controlled by him. In reply to Question No. 16, it was stated by him that he was providing accommodation entries in the form of long term capital gain

PINKY AGARWAL ,KOLKATA vs. ACIT, CC-3(1), KOLKATA , KOLKATA

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 984/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

search and seizure operation u/s 132(4) at his residential premises on 21.01.2015 when in reply to Question No. 10 he mentioned that 246 companies are managed and controlled by him. In reply to Question No. 16, it was stated by him that he was providing accommodation entries in the form of long term capital gain

SHRI BUDHRAJ AGARWAL,KOLKATA vs. ITO, WARD-43(6) , KOLKATA

In the result, the appeal filed by the assessee is allowed in the legal issue as well as on merit

ITA 431/KOL/2020[2015-16]Status: DisposedITAT Kolkata31 Aug 2023AY 2015-16

Bench: Sri Rajesh Kumar & Sonjoy Sarma

Section 143(3)Section 263

Gains or Short Term Capital Loss by various beneficiaries. Extensive investigation, including search and seizure / survey action on entry providers

REENA JAIN,KOLKATA vs. ITO, WARD-37(1), KOL, KOLKATA

In the result, the appeal of the assessee is hereby allowed

ITA 503/KOL/2023[2015-16]Status: DisposedITAT Kolkata09 Jan 2024AY 2015-16

Bench: Shri Sonjoy Sarma & Shri Girish Agrawal]

Section 142(1)Section 147Section 148Section 151Section 68

capital gains from transactions on which securities transactions tax has been paid. In the case of assessee, information was received by the AO that the assessee had received accommodation entry of bogus LTCG and on a perusal of ITBA data, it was revealed that the assessee has received accommodation entry to the tune of Rs. 9,16,444/- from trading

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. RAVI MODI, KOLKATA

In the result, both the appeals of the revenue are dismissed

ITA 1673/KOL/2024[2019-20]Status: DisposedITAT Kolkata19 Dec 2024AY 2019-20

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 143(2)Section 153ASection 2Section 45Section 46Section 48

search and seizure operation, notice u/s 153A was issued and asking from the assessee to file return for AY 2018-19. In response to the same, the return of income was filed declaring total income of RS. 19,52,49,060/-. The return filed was selected for scrutiny by issuing notice u/s 143(2) of the Act. The assessee submitted

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. RAVI MODI, KOLKATA

In the result, both the appeals of the revenue are dismissed

ITA 1672/KOL/2024[2018-19]Status: DisposedITAT Kolkata19 Dec 2024AY 2018-19

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 143(2)Section 153ASection 2Section 45Section 46Section 48

search and seizure operation, notice u/s 153A was issued and asking from the assessee to file return for AY 2018-19. In response to the same, the return of income was filed declaring total income of RS. 19,52,49,060/-. The return filed was selected for scrutiny by issuing notice u/s 143(2) of the Act. The assessee submitted

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. SHILPI MODI, KOLKATA

In the result, both the appeals of the revenue are dismissed

ITA 1671/KOL/2024[2019-20]Status: DisposedITAT Kolkata19 Dec 2024AY 2019-20

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 143(2)Section 153ASection 2Section 45Section 46Section 48

search and seizure operation, notice u/s 153A was issued and asking from the assessee to file return for AY 2018-19. In response to the same, the return of income was filed declaring total income of Rs. 23,50,13,240/-. The return filed was selected for scrutiny by issuing notice u/s 143(2) of the Act. The assessee submitted

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. SHILPI MODI, KOLKATA

In the result, both the appeals of the revenue are dismissed

ITA 1670/KOL/2024[2018-19]Status: DisposedITAT Kolkata19 Dec 2024AY 2018-19

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 143(2)Section 153ASection 2Section 45Section 46Section 48

search and seizure operation, notice u/s 153A was issued and asking from the assessee to file return for AY 2018-19. In response to the same, the return of income was filed declaring total income of Rs. 23,50,13,240/-. The return filed was selected for scrutiny by issuing notice u/s 143(2) of the Act. The assessee submitted

DEPUTY COMMISSOENR OF INCOME TAX, KOLKATA vs. DOLLAR HOLDING PVT. LTD., KOLKATA

In the result, both the appeals of the Revenue are dismissed

ITA 1728/KOL/2024[2015-16]Status: DisposedITAT Kolkata11 Feb 2025AY 2015-16

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri A.K. Tulsyan, ARFor Respondent: Shri Abhijit Kundu, DR
Section 14ASection 68Section 69C

gain, etc. Accordingly, the assessee was called upon to furnish the details which were furnished by the assessee by submitting that the ITA Nos.1728 & 1729/KOL/2024 Dollar Holding Pvt. Ltd; A.Y. 15-16 and 17-18 amalgamating company as on the date of merger had investments amounting to ₹93,01,00,000/- which was acquired by the assessee company pursuant

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. DOLLAR HOLDING PVT. LTD., KOLKATA

In the result, both the appeals of the Revenue are dismissed

ITA 1729/KOL/2024[2017-18]Status: DisposedITAT Kolkata11 Feb 2025AY 2017-18

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri A.K. Tulsyan, ARFor Respondent: Shri Abhijit Kundu, DR
Section 14ASection 68Section 69C

gain, etc. Accordingly, the assessee was called upon to furnish the details which were furnished by the assessee by submitting that the ITA Nos.1728 & 1729/KOL/2024 Dollar Holding Pvt. Ltd; A.Y. 15-16 and 17-18 amalgamating company as on the date of merger had investments amounting to ₹93,01,00,000/- which was acquired by the assessee company pursuant

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. RAHUL SARAF, KOLKATA, WEST BENGAL

In the result, the appeal of the Revenue is dismissed and the appeal of the assessee is allowed for statistical purposes

ITA 1238/KOL/2024[2012-13]Status: DisposedITAT Kolkata16 Dec 2024AY 2012-13

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Acit, Circle-40 Rahul Saraf (Huf) Income Tax Office, 3, 4/1, Red Cross Place, Kolkata- Government Place (West), Vs. 700001, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aadhr2300F Dcit, 5Th Floor, Room No.516, Rahul Saraf Aaykar Bhavan Poorva, 33, Hungerford Street, Kolkata- Vs. 700017, West Bengal 110, Shantipally, Kolkata-700107 West Bengal (Appellant) (Respondent) Pan No. Akops6728D Assessee By : Shri Somitra Choudhury & Shri Pranabash Sarkar, Ars Revenue By : Shri Raja Sengupta, Dr Date Of Hearing: 10.12.2024 Date Of Pronouncement : 16.12.2024

For Appellant: Shri Somitra Choudhury &For Respondent: Shri Raja Sengupta, DR
Section 132(1)Section 14ASection 24ASection 54Section 8D

search and seizure action u/s 132(1) of the Act was conducted on 24.01.2012 in the office and residential premises of the assessee. The assessee filed the return of income for ITA Nos. 1661 & 1238/KOL/2024 Rahul Saraf; A.Ys. 2012-13 & 2018-19 the relevant assessment year on 31.07.2012, declaring total income of ₹6,23,49,640/-. Subsequently, statutory notices were

RAHUL SARAF (HUF),KOLKATA vs. A.C.I.T., CIRCLE - 40, KOLKATA, KOLKATA

In the result, the appeal of the Revenue is dismissed and the appeal of the assessee is allowed for statistical purposes

ITA 1661/KOL/2024[2018-2019]Status: DisposedITAT Kolkata16 Dec 2024AY 2018-2019

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Acit, Circle-40 Rahul Saraf (Huf) Income Tax Office, 3, 4/1, Red Cross Place, Kolkata- Government Place (West), Vs. 700001, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aadhr2300F Dcit, 5Th Floor, Room No.516, Rahul Saraf Aaykar Bhavan Poorva, 33, Hungerford Street, Kolkata- Vs. 700017, West Bengal 110, Shantipally, Kolkata-700107 West Bengal (Appellant) (Respondent) Pan No. Akops6728D Assessee By : Shri Somitra Choudhury & Shri Pranabash Sarkar, Ars Revenue By : Shri Raja Sengupta, Dr Date Of Hearing: 10.12.2024 Date Of Pronouncement : 16.12.2024

For Appellant: Shri Somitra Choudhury &For Respondent: Shri Raja Sengupta, DR
Section 132(1)Section 14ASection 24ASection 54Section 8D

search and seizure action u/s 132(1) of the Act was conducted on 24.01.2012 in the office and residential premises of the assessee. The assessee filed the return of income for ITA Nos. 1661 & 1238/KOL/2024 Rahul Saraf; A.Ys. 2012-13 & 2018-19 the relevant assessment year on 31.07.2012, declaring total income of ₹6,23,49,640/-. Subsequently, statutory notices were

DCIT, AAYAKAR BHAWAN POORVA. , KOLKATA vs. M/S. DELIGHT SUPPLIERS PVT. LTD, KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 285/KOL/2023[2012-13]Status: DisposedITAT Kolkata26 Feb 2024AY 2012-13

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.285/Kol/2023 Assessment Years: 2012-13

Section 115JSection 143(2)Section 143(3)Section 250Section 50C

capital gain u/s. 50C of the Act at Rs.15,08,720/-. Income assessed at Rs.54,73,369/- under normal provisions and at Rs.46,09,966/- under sec. 115JB of the Act. Aggrieved, revenue is in appeal before this Tribunal. 4. Ld. DR vehemently supported the orders of lower authorities. 4. On the other hand, the Ld. Counsel for the assessee

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. GOLDEN GOENKA CREDIT PRIVATE LIMITED , KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 1799/KOL/2025[2022-23]Status: DisposedITAT Kolkata28 Jan 2026AY 2022-23

Bench: Shri Rajesh Kumar (Accountant Member), Shri Pradip Kumar Choubey (Judicial Member)

Section 127Section 132(1)Section 139Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 250Section 36(1)(iii)Section 68

search & seizure action it was observed that the assessee, during the period of ASSESSMENT YEAR 2022-23, had received unsecured loan from various lenders. Accepting of such unsecured loans & paying of interest on that behalf was also affirmed by the assessee and details of which are as under:- 3 Golden Goenka Credit Pvt. Ltd Name of the loan creditor Amount

SURESH KUMAR PODDAR,KOLKATA vs. I.T.O., WARD - 63(4), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

ITA 1542/KOL/2024[2011-2012]Status: DisposedITAT Kolkata06 Mar 2026AY 2011-2012

Bench: SHRI RAJESH KUMAR (Accountant Member)

Section 111ASection 132Section 132(1)Section 139(1)Section 144Section 147Section 148Section 153CSection 250Section 250o

capital gain and Rs. 73,60,000/- was added in respect of investment in shares of M/s Shri Ganesh Spinners Limited, controlled and manage Shri Shah. The assessment was framed by the AO was affirmed by the Ld. CIT(A). 6. The ld AR vehemently submitted that the assessment framed by the AO u/s 144/147 of the Act vide order

WINSHER COMMERCIAL PVT. LTD.,KOLKATA vs. I.T.O., WARD - 14(2), PRESENTLY D.C.I.T., CIRCLE-11(1), KOLKATAKOLKATA, KOLKATA

Appeal of the assessee is allowed for statistical purposes

ITA 668/KOL/2022[2014-2015]Status: DisposedITAT Kolkata13 May 2024AY 2014-2015

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumari.T.A. No. 668/Kol/2022 Assessment Year: 2014-2015 Winsher Commercial Pvt. Limited,…....….Appellant C/O. Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata-700069 [Pan:Aaacw3125H] -Vs.- Income Tax Officer,………………………………Respondent Ward-14(2), Kolkata, [Presently Dcit, Circle-11(1), Kolkata], Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Assessee Shri B.K. Singh, Jcit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : March 21, 2024 Date Of Pronouncing The Order : May 13, 2024 O R D E R

Section 10(38)Section 68

search and seizure operations to various brokers and entry operators. It recorded their statements and one of the persons is Shri Pankaj Agarwal, who has deposed on oath. The ld. DIT(Investigation) has transmitted the material information exhibiting that certain individual companies have shown capital gain

SHRI DINESH AGARWAL,KOLKATA vs. A.C.I.T.,CENTRAL CIRCLE-3(4), KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

ITA 2624/KOL/2019[2015-16]Status: DisposedITAT Kolkata09 Apr 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

For Appellant: Shri Miraj D. Shah & Shri S. M. Surana, AdvocateFor Respondent: Shri P. P. Barnab, Addl. CIT, Sr. DR
Section 132Section 133ASection 143(3)

search and seizure operation u/s. 132 of the Act and survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account

SHRI VIJAY AGARWAL,KOLKATA vs. A.C.I.T.,CENTRAL CIRCLE-3(4), KOLKATA

In the result, all the seven appeals of the assessee are allowed for statistical purposes

ITA 2623/KOL/2019[2015-16]Status: DisposedITAT Kolkata09 Apr 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16 Amit Agarwal, Assistant Commissioner Of 49A, Tollygunge Circular Road, Vs. Income Tax, Central Circle- New Alipore, Kolkata-700053. 3(4), Kolkata. (Pan: Agapa0320R) (Appellant) (Respondent)

For Appellant: Shri Miraj D. Shah & Shri S. M. Surana, AdvocateFor Respondent: Shri P. P. Barnab, Addl. CIT, Sr. DR
Section 132Section 133ASection 143(3)

search and seizure operation u/s. 132 of the Act and survey operations u/s. 133A of the Act were conducted by the Directorate of Income Tax (Inv.), Kolkata in certain cases. He noted that such operation resulted in unearthing of a large syndicate of entry operators, share brokers and money launderers etc. involved in providing bogus accommodation entries on account