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41 results for “section 68”+ Section 271Dclear

Sorted by relevance

Delhi58Jaipur57Mumbai41Hyderabad27Chennai26Karnataka21Ahmedabad19Kolkata14Pune13Indore12Visakhapatnam11Agra9Bangalore9Chandigarh8Surat7Rajkot5Cuttack3Jabalpur2Nagpur2Amritsar1Ranchi1SC1Lucknow1Varanasi1Cochin1

Key Topics

Section 271D70Section 271B40Section 269S39Section 6833Penalty32Section 143(3)30Addition to Income26Section 14822Section 14715Section 273B

DCIT CC 1, MUMBAI vs. SANJU KOTHARI, MUMBAI

In the result, appeal stands dismissed

ITA 3790/MUM/2013[2008-09]Status: DisposedITAT Mumbai04 Mar 2016AY 2008-09

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri Anant PaiFor Respondent: Shri Sunil Kumar Agarwal
Section 132(1)Section 153ASection 269SSection 271(1)(c)Section 271DSection 68

68 of the Act. Thus, once, the Assessing Officer treats the amount in question as assessee’s income, he cannot treat the same as loan for invoking the provisions of section 269SS r/w section 271D

Showing 1–20 of 41 · Page 1 of 3

14
Natural Justice8
Unexplained Cash Credit8

SUPARSHWA CONSTRUCTIONS,MUMBAI vs. ADDL CIT RG 6, MUMBAI

In the result, additional ground of appeal raised by assessee is allowed

ITA 3083/MUM/2014[2002-03]Status: DisposedITAT Mumbai30 Apr 2019AY 2002-03

Bench: Shri Pawan Singh & Shri N.K. Pradhan

For Respondent: Ms. Dinkle Haria (AR)
Section 143(3)Section 254(1)Section 269SSection 271Section 271DSection 271ESection 273BSection 279S

68 of Income-tax Act. Section 269SS/T were inserted to curve the circulation of black money and to curve the tax evasion. The Assessing Officer levied the penalty of equal of the amount of loan availed by the assessee vide its order dated 28.09.2012 passed under section 271D

SHRI SANJAY SHANTILAL JAIN,MUMBAI vs. JCIT, CENTRAL RANGE-8, MUMBAI

In the result, the appeals of the assessee for assessment year

ITA 6140/MUM/2018[2011-12]Status: DisposedITAT Mumbai30 Nov 2022AY 2011-12

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2011-12 & Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2014-15

For Respondent: Assessee by Mr. Rushabh Mehta
Section 269SSection 271DSection 273B

section 2(22)(e) of the A the provision of section 2(22)(e) of the Act. As regard to the ct. As regard to the contention of accumulated profit is concerned, the assessee has contention of accumulated profit is concerned, the assessee has contention of accumulated profit is concerned, the assessee has referred to the decision

PREMJI BHURLAL GALA ,MUMBAI vs. ADDL CIT RANG 24(1), MUMBAI

In the result, Assessee’s appeal is allowed

ITA 6596/MUM/2025[2016-17]Status: DisposedITAT Mumbai28 Jan 2026AY 2016-17

Bench: Shri Narender Kumar Choudhry & Shri Bijayananda Prusethassessment Year: 2016-17 Premji Bhurlal Gala Addl. Cit Range 24(1), B-301, Water Ford, Cd Mumbai Barfiwala Road Juhu Fally Kautilya Bhavan, C-41 To C- Vs. Andheri West, Mumbai - 43, G Block, Bandra Kurla 400058 Complex, Bandra (E) Mumbai – 400051 (Appellant) (Respondent) Present For: Assessee By : Shri Vinod Kumar Bindal & Satish Kumar, Ld. A. Rs. Revenue By : Shri Virabhadra Mahajan, Sr. D.R. Date Of Hearing : 09.12.2025 Date Of Pronouncement : 28.01.2026 O R D E R Per : Narender Kumar Choudhry: This Appeal Has Been Preferred By The Assessee Against The Order Dated 23.09.2025, Impugned Herein, Passed By The Ld. Commissioner Of Income Tax (Appeals) (In Short Ld. Commissioner) U/S 250 Of The Income Tax Act, 1961 (In Short ‘The Act’) For The A.Y. 2016-17. 2. In The Instant Case, The Case Of The Assessee Was Reopened Under Section 147 Of The Act, On The Basis Of Search & Survey Action Under Section 132 Of The Act Carried Out In The Case Of M/S. Evergreen Enterprises, Wherein The Statement Of The Partner In M/S. Evergreen Enterprises, Mr. Nilesh Bharani Was Recorded Under Section 132(4) Of The Act, Unearthing An Undisclosed Activity, 2 Premji Bhurlal Gala

For Appellant: Shri Vinod Kumar Bindal & SatishFor Respondent: Shri Virabhadra Mahajan, SR. D.R
Section 132Section 132(4)Section 142(1)Section 143(2)Section 147Section 148Section 250Section 269SSection 271Section 271D

68 of the Act. 20. We further observe that in the assessment order dated 22.03.2022 under Section 147 read with Section 144 (B) of the Act, the AO has not recorded clear cut satisfaction with regard to the initiation of the penalty proceedings under Section 271 (D) of the Act and thus, attracts the judgment

SHRI SANJAY SHANTILAL JAIN,MUMBAI vs. JCIT, CENTRAL RANGE-8 , MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is having ITA No

ITA 6124/MUM/2018[2010-11]Status: DisposedITAT Mumbai31 Oct 2022AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Dcit-Cc 8(3), 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Jcit, Central Range-8, 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent : Assessee By Mr. Rushabh Mehta, Ar Revenue By : Mr. Manoj Kumar, Cit- Dr : Date Of Hearing 15/09/2022 Date Of Pronouncement : 31/10/2022

For Respondent: Assessee by Mr. Rushabh Mehta, AR
Section 143(3)Section 40A(3)Section 50Section 68Section 69C

Section brought to tax. When once the proceedings are initiated under Section brought to tax. When once the proceedings are initiated under Section 153A of the SRP 41/61 153A of the SRP 41/61 ITXA523.13.doc Act, the legal effect is even in case 3.doc Act, the legal effect is even in case Shri Sanjay Shantilal Jain Shri Sanjay

SHRI SANJAY SHANTILAL JAIN,MUMBAI vs. DCIT, CENTRAL RANGE-8 (3), MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is having ITA No

ITA 6123/MUM/2018[2010-11]Status: DisposedITAT Mumbai31 Oct 2022AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Dcit-Cc 8(3), 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent Assessment Year: 2010-11 Shri Sanjay Shantilal Jain, Jcit, Central Range-8, 72-7, Kalpataru Residency Tower 6Th Floor, Aayakar Bhavan, Vs. B, Sion Koliwada Road, Sion, M.K. Road, Mumbai-400022. Mumbai-400020. Pan No. Aabpj 3761 A Appellant Respondent : Assessee By Mr. Rushabh Mehta, Ar Revenue By : Mr. Manoj Kumar, Cit- Dr : Date Of Hearing 15/09/2022 Date Of Pronouncement : 31/10/2022

For Respondent: Assessee by Mr. Rushabh Mehta, AR
Section 143(3)Section 40A(3)Section 50Section 68Section 69C

Section brought to tax. When once the proceedings are initiated under Section brought to tax. When once the proceedings are initiated under Section 153A of the SRP 41/61 153A of the SRP 41/61 ITXA523.13.doc Act, the legal effect is even in case 3.doc Act, the legal effect is even in case Shri Sanjay Shantilal Jain Shri Sanjay

SAMEER NOORULLAH KHAN ,MUMBAI vs. COMMISSIONER OF INCOME TAX (A), MUMBAI

In the result, appeal by the assessee is allowed

ITA 518/MUM/2022[2015-16]Status: DisposedITAT Mumbai16 Aug 2022AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Sameer Noorullah Khan Cit (A)-32 K Raheja Prime Kautilya Bhavan, Office No.9, 9 Th Floor, 9Th Floor, Behind Times Square Bldg, Room No.945, Bkc, Vs. Sag Baug Road, Marol Naka, Bandra (E) Andheri (East) Mumbai-400 50 Mumbai-400 059 (Appellant) (Respondent) Pan No. Alrpk 5260 A Assessee By : Shri Vimal Punmiya, Ar Revenue By : Shri Tejinder Pal Singh Anand, Dr Date Of Hearing: 16.08.2022 Date Of Pronouncement : 16.08.2022

For Appellant: Shri Vimal Punmiya, ARFor Respondent: Shri Tejinder Pal Singh Anand
Section 138Section 143(3)Section 250Section 269SSection 271DSection 273BSection 68

68 of the Act were made. The learned Assessing Officer noted that as assessee has borrowed cash loan from 11 parties of ₹80 lacs which is more than ₹20,000/- in each case, penalty proceedings under Section 271D

MAHARASHTRA STATE PHARMACY COUNCIL,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

ITA 1143/MUM/2021[2013-14]Status: DisposedITAT Mumbai31 Mar 2022AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Vimal Punmiya
Section 143(3)Section 148Section 271BSection 44A

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

MAHARASHTRA STATE PHARMACY COUNCIL ,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

ITA 1141/MUM/2021[2011-12]Status: DisposedITAT Mumbai31 Mar 2022AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Vimal Punmiya
Section 143(3)Section 148Section 271BSection 44A

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

MAHARASHTRA STATE PHARMACY COUNCIL,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

ITA 1145/MUM/2021[2015-16]Status: DisposedITAT Mumbai31 Mar 2022AY 2015-16

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Vimal Punmiya
Section 143(3)Section 148Section 271BSection 44A

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

MAHARASHTRA STATE PHARMACY COUNCIL,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

ITA 1142/MUM/2021[2012-13]Status: DisposedITAT Mumbai31 Mar 2022AY 2012-13

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Vimal Punmiya
Section 143(3)Section 148Section 271BSection 44A

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

MAHARASHTRA STATE PHARMACY COUNCIL,MUMBAI vs. CIT (A)-NATIONAL FACELESS, DELHI

In the result, all the appeals filed by the assessee are allowed

ITA 1144/MUM/2021[2014-15]Status: DisposedITAT Mumbai31 Mar 2022AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Vimal Punmiya
Section 143(3)Section 148Section 271BSection 44A

68,493 5. However no return was filed by the assessee for all these assessment years as the prevailing opinion was that the income earned by the council is exempt from income tax and the assessee was not required to file return of income. 6. Notice u/s 148 dated 31.03.2018 was issued to assessee and assessee filed return in response

PREMJI BHURALAL GALA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 24(1), MUMBAI

In the result, the appeals of the assessee bearing ITA 440/Mum/2024, ITA

ITA 440/MUM/2024[2013-14]Status: DisposedITAT Mumbai12 Jun 2024AY 2013-14

Bench: Shri Anikesh Banerjeeand Shri Gagan Goyal

For Appellant: Shri Anuj KisnadwalaFor Respondent: Shri H.M. Bhatt (SRDR)
Section 132Section 132(4)Section 143(3)Section 144BSection 147Section 148Section 234ASection 250Section 269SSection 271(1)(c)

68 of the Act and section 69A for the assessment years 2017-18 and 2016-17. Being aggrieved, assessee filed an appeal before the ld. CIT(A). The Ld.CIT(A) upheld the assessment order. Being aggrieved, the assessee filed an appeal before us. 4. The Ld.AR vehemently argued and first invited our attention in assessment order para 4 which

INCOME TAX OFFICER, MUMBAI vs. NDW DEVELOPMENT CORPORATION LLP, MUMBAI

In the result, the appeal of the Revenue is dismissed

ITA 3817/MUM/2025[2022]Status: DisposedITAT Mumbai01 Jan 2026

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhailassessment Year : 2022-23 Income Tax Officer-20(2)(1), Ndw Development Corporation 304, Piramal Chambers, Llp, Parel, Vs. B 201-202, Doodh Wala Complex, Mumbai-400012. Chsl, Belashis Road, Mumbai Central, Mumbai-400008. Pan : Aapfn4779C (Appellant) (Respondent) Assessee By : Shri Madhur Agarwal Revenue By : Shri Inder Solanki, Cit-Dr

For Appellant: Shri Madhur AgarwalFor Respondent: Shri Inder Solanki, CIT-DR
Section 143(2)Section 143(3)Section 694Section 69A

68, and Rs.6,00,000/- is treated as unexplained money under Section 69A, with corresponding penalties under Sections 271D

FAME ENGINEERING PVT. LTD.,MUMBAI vs. ITO 12 (2)(1), MUMBAI

In the result, both the appeal of the assessee as well as Revenue are dismissed

ITA 2570/MUM/2019[2009-10]Status: DisposedITAT Mumbai10 May 2022AY 2009-10

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2009-10 Fame Engineering Pvt. Ltd., Ito-12(2)(1), D-31, Star Apartment, S.V. Aayakar Bhavan, Road, Borivali (West), Vs. Mumbai-400020. Mumbai-400092. Pan No. Aaaca 9948 E Appellant Respondent Assessment Year: 2009-10 Asst. Commissioner Of Income M/S Fame Engineering India Pvt. Ltd., Tax-12(2)(1), 31, Star Apartment, S.V. Road, Borivali Room No. 128E, 1St Floor, Vs. West, Aayakar Bhavan, Churchgate, Mumbai-400092. Mumbai-400020. Pan No. Aaaca 9948 E Appellant Respondent Assessee By : None Revenue By : Mr. S.N. Kabra, Dr Date Of Hearing : 13/04/2022 Date Of Pronouncement : 10/05/2022

For Appellant: NoneFor Respondent: Mr. S.N. Kabra, DR
Section 143(3)Section 147Section 68

section 68 of the Act and therefore the Ld. CIT(A) is justified in upholding the addition. We do not find any error in the order of the Ld. CIT(A) on the issue-in- dispute and accordingly we uphold the same. The grounds, pertaining to merit of the additions are also dismissed. M/s Fame Engineering India

ACIT 12(2)(1), MUMBAI vs. M/S FAME ENGINEERING INDIA PVT LTD., MUMBAI

In the result, both the appeal of the assessee as well as Revenue are dismissed

ITA 3978/MUM/2019[2009-10]Status: DisposedITAT Mumbai10 May 2022AY 2009-10

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2009-10 Fame Engineering Pvt. Ltd., Ito-12(2)(1), D-31, Star Apartment, S.V. Aayakar Bhavan, Road, Borivali (West), Vs. Mumbai-400020. Mumbai-400092. Pan No. Aaaca 9948 E Appellant Respondent Assessment Year: 2009-10 Asst. Commissioner Of Income M/S Fame Engineering India Pvt. Ltd., Tax-12(2)(1), 31, Star Apartment, S.V. Road, Borivali Room No. 128E, 1St Floor, Vs. West, Aayakar Bhavan, Churchgate, Mumbai-400092. Mumbai-400020. Pan No. Aaaca 9948 E Appellant Respondent Assessee By : None Revenue By : Mr. S.N. Kabra, Dr Date Of Hearing : 13/04/2022 Date Of Pronouncement : 10/05/2022

For Appellant: NoneFor Respondent: Mr. S.N. Kabra, DR
Section 143(3)Section 147Section 68

section 68 of the Act and therefore the Ld. CIT(A) is justified in upholding the addition. We do not find any error in the order of the Ld. CIT(A) on the issue-in- dispute and accordingly we uphold the same. The grounds, pertaining to merit of the additions are also dismissed. M/s Fame Engineering India

ROHAN DEVELOPERS P.LTD,MUMBAI vs. DCIT CEN CIR 47, MUMBAI

In the result, all the appeals of the Revenue are dismissed and appeals of the assessee are allowed

ITA 3801/MUM/2019[2010-11]Status: DisposedITAT Mumbai13 Oct 2021AY 2010-11

Bench: Shri Rajesh Kumar & Shri Ravish Soodassessment Year: 2008-09 Assessment Year: 2010-11 Assessment Year: 2011-12 Assessment Year: 2012-13 Assessment Year: 2013-14 Assessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2014-15

For Appellant: Shri A.K. Gosh, A.RFor Respondent: Dr. Yogesh Kamat, D.R
Section 132(1)Section 153A

68. Asstt. CIT v. Satyapal Wassan [2007] 295ITR (AT) 352 (Jabalpur) [2008] 5 DTK (Jab.) (Trib.)202. • Additions made by the Assessing Officer, inter-alia, on the basis of loose papers found during search by making certain presumptions which are found to be inconsistent or contrary to other evidence on record cannot be upheld, especially when no significant asset outside

DCIT CENTRAL CIRCLE-8(4), MUMBAI vs. M/S ROHAN DEVELOPERS PVT LTD, MUMBAI

In the result, all the appeals of the Revenue are dismissed and appeals of the assessee are allowed

ITA 4060/MUM/2019[2008-09]Status: DisposedITAT Mumbai13 Oct 2021AY 2008-09

Bench: Shri Rajesh Kumar & Shri Ravish Soodassessment Year: 2008-09 Assessment Year: 2010-11 Assessment Year: 2011-12 Assessment Year: 2012-13 Assessment Year: 2013-14 Assessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2014-15

For Appellant: Shri A.K. Gosh, A.RFor Respondent: Dr. Yogesh Kamat, D.R
Section 132(1)Section 153A

68. Asstt. CIT v. Satyapal Wassan [2007] 295ITR (AT) 352 (Jabalpur) [2008] 5 DTK (Jab.) (Trib.)202. • Additions made by the Assessing Officer, inter-alia, on the basis of loose papers found during search by making certain presumptions which are found to be inconsistent or contrary to other evidence on record cannot be upheld, especially when no significant asset outside

PREMJI BHURALAL GALA ,MUMBAI vs. NFAC, DELHI

In the result, appeal of the assessee is allowed on the validity of the re-opening u/s

ITA 3081/MUM/2022[2012-13]Status: DisposedITAT Mumbai28 Feb 2024AY 2012-13

Bench: Your Honors Should Have Been Filed Within 60 Days Of Receipt Of The Order Of Cxit(A) But The Same Could Not Be Done.

Section 143(1)Section 143(3)Section 147Section 69C

68 and that is for the reason that he has not made any addition on amount of cash loan. Once the very basis on which reasons have been recorded, i.e., cash loan of Rs.2,45,00,000/- which has been stated to be chargeable to tax in the hands of assessee is not found to be taxable

DCIT-15(3)(1), MUMBAI vs. M/S. TRANSLANDS INFRASTRUCTURE DEVELOPERS P LTD, VASHI

In the result, the appeal of the revenue is dismissed

ITA 1913/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Sept 2023AY 2012-13

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailthe Dy. Commissioner Of Vs. M/S Translands Income-Tax, 15(3)(1), Infrastructure Developers Mumbai P. Ltd. Jn-3-14-5, Asshirwad Chs, Sector-09, Vashi, Navi Mumbai-400 703 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aadct 0036 B Appellant .. Respondent

For Appellant: Ms. Rupa NandaFor Respondent: Shri P. D. Chougule, Sr. AR
Section 143(3)Section 147Section 269SSection 271DSection 273BSection 3Section 68

271D for failure to comply with the provisions of section 269SS of the act was initiated in respect of addition on account of unexplained cash credit u/s 68