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101 results for “capital gains”+ Section 263(1)clear

Sorted by relevance

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Key Topics

Section 263161Section 143(3)107Addition to Income57Section 14746Section 25038Section 6838Deduction34Section 14A29Revision u/s 26328

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

ITA 141/KOL/2020[2013-14]Status: DisposedITAT Kolkata20 Nov 2025AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

Section 143(3)Section 50C(1)Section 55A

section 149 quoted above, to the AO of Avani Projects And Infrastructure Limited(PAN: ABCFA2745F )to reassess its total Income for A.Y.2013-14 after disallowance of the expenditure of Rs.1,65,84,710/- claimed as payments made to the assessee in terms of the purported Joint Development Agreement(s). D. Prayer It is humbly prayed before Your Honours that

M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Showing 1–20 of 101 · Page 1 of 6

Section 143(1)24
Long Term Capital Gains24
Disallowance23
ITA 32/KOL/2020[2013-14]Status: DisposedITAT Kolkata20 Nov 2025AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

Section 143(3)Section 50C(1)Section 55A

section 149 quoted above, to the AO of Avani Projects And Infrastructure Limited(PAN: ABCFA2745F )to reassess its total Income for A.Y.2013-14 after disallowance of the expenditure of Rs.1,65,84,710/- claimed as payments made to the assessee in terms of the purported Joint Development Agreement(s). D. Prayer It is humbly prayed before Your Honours that

SHUVRO CHATTARAJ,KOLKATA vs. PCIT , BURDWAN

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

ITA 226/KOL/2022[2015-16]Status: DisposedITAT Kolkata28 Aug 2024AY 2015-16

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2015-16

For Appellant: Shri Vinod Kumar Jain, FCAFor Respondent: Shri Subhendu Datta, CIT, DR
Section 143(3)Section 263Section 54E

1,00,00,000/-. He also disallowed the claim of Rs. 12,24,360/- u/s 54F of the Act for construction cost of new residential property for want of supporting documents and considered the taxability of JDA on the basis of the latter registered agreement dated 26.09.2014 and allowed the deduction u/s 54EC of the Act from the capital gains

SWETA SONTHALIA,KOLKATA vs. ITO, WARD 7(1), KOLKATA

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

ITA 207/KOL/2025[2013-14]Status: DisposedITAT Kolkata22 May 2025AY 2013-14

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 54E

263, of the Income-tax Act, 1961 - Capital gains - Not to be charged on investment in certain bonds (2015 Amendment) - Assessment year 2009-10 - Whether amendment to section 54EC brought with effect from 1

ORIENTAL CHARITABLE FOUNDATION,KOLKATA vs. CIT(EXEMPTIONS), KOLKATA

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

ITA 257/KOL/2022[2017-18]Status: DisposedITAT Kolkata04 Jul 2024AY 2017-18

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2017-18

For Appellant: Shri Siddarth Agrwal, AdvocateFor Respondent: Shri Subhendu Datta, CIT, DR
Section 11Section 11(1)(d)Section 12ASection 143(3)Section 263

1) of section 11. Thus, section 11 treats revenue and capital receipts differently. Since the computation of income of the trust is to be done as per the commercial principles, therefore, applying the commercial principles, if the capital receipt is no longer continuing as capital receipt because of the violation of the conditions, then it is liable to be included

BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA

In the result, the appeal of the assessee is allowed

ITA 462/KOL/2023[2018-19]Status: DisposedITAT Kolkata06 Mar 2024AY 2018-19

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

Section 139(1)Section 143(3)Section 263Section 35(1)(i)Section 43BSection 56(2)(x)Section 80J

capital asset to a Departmental Valuation Officer (DVO) and for that purpose, the procedure prescribed under he Wealth Tax Act are to be applied. In case of any such claim, the AO may rely on the report of the registered valuer under Section 55-A of the Act and in such case it will not be necessary

RUSSEL CREDIT LIMITED,KOLKATA vs. PCIT, KOL, KOLKATA

The appeal of the assessee is allowed

ITA 407/KOL/2023[2018-19]Status: DisposedITAT Kolkata23 Oct 2024AY 2018-19

Bench: Shri Rajpal Yadav & Shri Sanjay Awasthiassessment Year: 2018-19

For Appellant: J.P. Khaitan, Sr. CounselFor Respondent: Abhijit Kundu, CIT DR
Section 143(3)Section 263

263 of the Act was issued on 30.11.2022 and thereafter an order under this section was passed on 27.02.2023, setting aside the order u/s 143(3) of the Act dated 08.03.2021 on the following grounds: (a) Treatment of gain from transfer of 34 unquoted preference shares of ICICI Bank Ltd as long-term capital gain (hereafter ‘LTCG

VENERABLE ADVERTISING PVT. LTD. ,KOLKATA vs. PCIT,KOL-1, KOLKATA

In the result, the appeal of the assessee stands allowed

ITA 459/KOL/2023[2018-19]Status: DisposedITAT Kolkata16 Jan 2024AY 2018-19

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.459/Kol/2023 Assessment Year: 2018-19 Venerable Advertising Pvt. Ltd....................…...……………....Appellant 6, Kali Krishna Tagore Street, Jorbagan, Kolkata- 700007. [Pan: Aaacv8673M] Vs. Pcit, Kolkata-1, Kolkata…..........................................…..…..... Respondent Appearances By: Shri Aayush Kedia, Ca, Appeared On Behalf Of The Appellant. Shri S. Datta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 30, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 14.03.2023 Of The Principal Commissioner Of Income Tax, Kolkata [Hereinafter Referred To As ‘Pcit’] U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Agitated Against The Action Of The Pr. Cit In Exercising His Revision Jurisdiction U/S 263 Of The Act & Thereby Directing The Assessing Officer To Frame The Assessment Afresh. 2. The Brief Facts Of The Case Are That The Assessee Vide Its Return Of Income For The Assessment Year Under Consideration I.E. A.Y 2018-19 Declared Total Income Of Rs.1,09,24,210/- Which Was Accepted By The Assessing Officer In The Assessment Carried Out U/S 143(3) Of The Act. However, Later On, The Ld. Pr. Cit In Exercising Of His Revision

Section 10(38)Section 143(3)Section 263Section 94(7)

263 of the Act, observed from the record that the assessee had shown short term capital gain on shares of Rs.40,94,308/- whereas from the schedule CG of ITR, it was seen that the assessee computed the said short term capital gain (STCG) as (-) Rs. 1,36,35,922/-. The LD Pr. CIT observed that the assessee was required

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 Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

263), the Court decided the issue against the assessee and in favour of the Revenue. The assessee in this case submitted in support of the genuineness of the Long Term Capital Gain on Penny stock on direct evidence, such as the contract notes from the brokers, profit & loss A/c, Balance Sheet, computation of total income, proximate facts and circumstances surrounding

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

263), the Court decided the issue against the assessee and in favour of the Revenue. The assessee in this case submitted in support of the genuineness of the Long Term Capital Gain on Penny stock on direct evidence, such as the contract notes from the brokers, profit & loss A/c, Balance Sheet, computation of total income, proximate facts and circumstances surrounding

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

263), the Court decided the issue against the assessee and in favour of the Revenue. The assessee in this case submitted in support of the genuineness of the Long Term Capital Gain on Penny stock on direct evidence, such as the contract notes from the brokers, profit & loss A/c, Balance Sheet, computation of total income, proximate facts and circumstances surrounding

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

263), the Court decided the issue against the assessee and in favour of the Revenue. The assessee in this case submitted in support of the genuineness of the Long Term Capital Gain on Penny stock on direct evidence, such as the contract notes from the brokers, profit & loss A/c, Balance Sheet, computation of total income, proximate facts and circumstances surrounding

RAMOTAR CHOUDHARI HUF,KOLKATA vs. PCIT 5 KOLKATA, KOLKATA

In the result, the appeal of the assessee stands allowed

ITA 1336/KOL/2023[2013-14]Status: DisposedITAT Kolkata09 May 2024AY 2013-14

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.1336/Kol/2023 Assessment Year : 2013-14 Ramotar Choudhari Huf.……..…………............…...……………....Appellant 7Th Floor, R.N 25 Fortuna Tower, 23A N.S. Road, Kolkata-1. [Pan: Aanhr9093K] Vs. Pcit-5, Kolkata………….…...............................................…..…..... Respondent Appearances By: Shri S. K. Pransukha, Fca, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 06, 2024 Date Of Pronouncing The Order : May 09, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 18.10.2023 Of The Principal Commissioner Of Income Tax, Kolkata [Hereinafter Referred To As ‘Pr. Cit’] Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Agitated Against The Action Of The Pr. Cit In Exercising His Revision Jurisdiction U/S 263 Of The Act & Thereby Directing The Assessing Officer To Frame The Assessment Afresh. 2. The Brief Facts Of The Case Are That The Assessee Filed Return Of Income For The Year Under Consideration Declaring Total Income Of Rs.2,55,970/- On 21.01.2014. Thereafter, An Information Was Received By The Assessing Officer From Investigation Wing That The Assessee Has

Section 10(38)Section 142(1)Section 147Section 263

capital gain u/s 10(38) on account of sale of shares of M/s Blueprint Securities Limited as under: 1. Purchase Bill and contract note for purchase of Shares of Blueprint Securities Ltd. 2. Copy of physical share certificiates being the name of the assessee 3. Copy of demat acknowledgement of the Eureka Stock and Share Broking Borker through whom assessee

DEEPAK SWITCH GEARS PVT. LTD. ,KOLKATA vs. PCIT, ASANSOL, ASANSOL

In the result, the appeal of the assessee stands allowed

ITA 809/KOL/2023[2012-13]Status: DisposedITAT Kolkata07 May 2024AY 2012-13

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.809/Kol/2023 Assessment Year: 2012-13 Deepak Switch Gears Pvt. Ltd….…......................…...……………....Appellant 48/6, Suman Villa, 2Nd Floor, 155, Jessore Road, Kolkata-700055. [Pan: Aabcd1131H] Vs. Pcit, Asansol….....….........................................................…..…..... Respondent Appearances By: Shri A. K. Tibrewal, Ar, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : April 08, 2024 Date Of Pronouncing The Order : May 07, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 30.12.2022 Of The Principal Commissioner Of Income Tax, Kolkata [Hereinafter Referred To As ‘Pr. Cit’] Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Agitated Against The Action Of The Pr. Cit In Exercising His Revision Jurisdiction U/S 263 Of The Act & Thereby Directing The Assessing Officer To Frame The Assessment Afresh. 2. The Registry Has Pointed Out That The Appeal Is Time-Barred By 158 Days. A Separate Application Of Condonation Of Delay Has Been Filed, Wherein, It Has Been Pleaded That After Receipt Of The Impugned Order Of The Pr. Cit, The Assessee, Through Its Director, Shri Deep Kishan Saraf, Immediately Approached One Shri Pawan Kumar Agarwal, Chartered

Section 253Section 263Section 5

Section 5 of the Limitation Act should receive a liberal construction so as to advance substantial justice vide Shakuntala Devi lain Vs. Kuntal Kumari [AIR 1969 SC 575] and State of West Bengal Vs. The Administrator, Howrah Municipality [AIR 1972 SC 749]. It must be remembered that in every case of delay there can be some lapse on the part

MALIKA ROY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

In the result, all the appeals of the assessees are allowed

ITA 779/KOL/2024[2014-15]Status: DisposedITAT Kolkata10 Jul 2024AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

Section 139(1)Section 144Section 153ASection 153DSection 263

capital gain assessable in their hands. If the computation made by the assesses was not in accordance with law, then their cases ought to have been selected for scrutiny assessment by issuance of a notice under section 143(2) of the Income Tax Act, but no such notices were issued meaning thereby the assessments have attained finality, which were passed

ARATI RAY,KOLKATA vs. DCIT, CEN. CIR. -3(4), KOLKATA

In the result, all the appeals of the assessees are allowed

ITA 778/KOL/2024[2014-15]Status: DisposedITAT Kolkata10 Jul 2024AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

Section 139(1)Section 144Section 153ASection 153DSection 263

capital gain assessable in their hands. If the computation made by the assesses was not in accordance with law, then their cases ought to have been selected for scrutiny assessment by issuance of a notice under section 143(2) of the Income Tax Act, but no such notices were issued meaning thereby the assessments have attained finality, which were passed

SAMIT RAY,KOLKATA vs. DCIT, CEN. CIR. 3(4), KOLKATA

In the result, all the appeals of the assessees are allowed

ITA 780/KOL/2024[2014-15]Status: DisposedITAT Kolkata10 Jul 2024AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 778/Kol/2024 Assessment Year: 2014-2015 Arati Ray,………………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Adopr8465R] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 779/Kol/2024 Assessment Year: 2014-2015 Mallika Roy,…………………………..……………Appellant 11/1, Dishari Bhawan, B.T. Road, Belghoria, Kolkata-700056 [Pan:Acgpr7888F] -Vs.- Deputy Commissioner Of Income Tax,…..…Respondent Central Circle-3(4), Kolkata, Aayakar Bhawan Poorva, 110, Shanti Pally, 5Th Floor, Kolkata-700107 & I.T.A. No. 780/Kol/2024 Assessment Year: 2014-2015 1

Section 139(1)Section 144Section 153ASection 153DSection 263

capital gain assessable in their hands. If the computation made by the assesses was not in accordance with law, then their cases ought to have been selected for scrutiny assessment by issuance of a notice under section 143(2) of the Income Tax Act, but no such notices were issued meaning thereby the assessments have attained finality, which were passed

GOUTAM GHOSH,HOWRAH vs. P.C.I.T., KOLKATA - 13, KOLKATA

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

ITA 1080/KOL/2024[2018-2019]Status: DisposedITAT Kolkata16 Oct 2024AY 2018-2019

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 263Section 45Section 56(2)(X)Section 56(2)(x)Section 69

1), where the capital gain arises to an assessee, being an individual or a Hindu undivided family, from the transfer of a capital asset, being land or building or both, under a specified agreement, the capital gains shall be chargeable to income-tax as income of the previous year in which the certificate of completion for the whole or part

SAROJ BAID,KOLKATA vs. ITO, WARD - 36(3), KOLKATA, KOLKATA

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

ITA 558/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Sept 2023AY 2014-15

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

Section 10(38)Section 143(3)Section 68

capital gain /trading loss there from. On appeal, ld. CIT(A) confirmed the action of the ld. AO. Aggrieved, assessees are in appeal before the Tribunal. 5. Recently on 14.06.2022, the Hon’ble jurisdictional High Court of Calcutta passed a judgment in the case of Swati Bajaj and others [2022] 139 taxmann.com 352 (Cal) dealing with set of cases with

SAROJ BAID,KOLKATA vs. ITO, WARD 36(3), KOLKATA, KOLKATA

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

ITA 1029/KOL/2017[2013-14]Status: DisposedITAT Kolkata14 Sept 2023AY 2013-14

Bench: Shri Sanjay Garg, J & Dr. Manish Borad

Section 10(38)Section 143(3)Section 68

capital gain /trading loss there from. On appeal, ld. CIT(A) confirmed the action of the ld. AO. Aggrieved, assessees are in appeal before the Tribunal. 5. Recently on 14.06.2022, the Hon’ble jurisdictional High Court of Calcutta passed a judgment in the case of Swati Bajaj and others [2022] 139 taxmann.com 352 (Cal) dealing with set of cases with