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3 results for “bogus purchases”+ Deemed Dividendclear

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Mumbai219Delhi57Cochin57Chandigarh34Jaipur22Raipur17Lucknow14Chennai12Bangalore11Kolkata10Pune9Varanasi5Hyderabad5Nagpur3Surat2Ahmedabad2Panaji1Indore1Cuttack1

Key Topics

Section 683Section 139(1)3Section 153A3Addition to Income3Section 242Section 10(34)2Section 1322Section 143(3)2Business Income2

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

In the result, Revenue’s appeal is dismissed

ITA 176/NAG/2016[2011-12]Status: DisposedITAT Nagpur15 May 2025AY 2011-12

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Sachin V. LuthraFor Respondent: Harshad S. Vengurlekar
Section 10(34)Section 10(35)Section 132Section 139(1)Section 143(3)Section 153ASection 24

deemed dividend of Rs.6,49,70,741 (Rs.6,46,05,741 + Rs.3,65,000) (Revised after rectification to Rs. 1,72,80,539/-). 11. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in deleting the addition of Rs.40,63,928/- made on account of unexplained cash deposits

Deemed Dividend2

M/S SHREE AGRAWAL COAL INDIA PVT. LTD,NAGPUR vs. A,C.I.T CENT CIR. 1(2), NAGPUR

In the result, assessee’s appeal stands allowed

ITA 180/NAG/2016[2009-10]Status: DisposedITAT Nagpur15 May 2025AY 2009-10

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Sachin V. LuthraFor Respondent: Shri Harshad S. Vengurlekar
Section 132Section 139(1)Section 143(3)Section 153ASection 2(22)(d)Section 2(22)(e)

Deemed Dividend u/s 2(22)(d) ` 7,69,50,670 Share application & premium treated 6. ` 3,70,00,000 unexplained ` 6,15,49,178 7. Unsecured loans treated unexplained ` 26,74,93,739 8. Sundry creditors treated unexplained ` 8,69,520 9. Expenses disallowed 10. Expenses disallowed ` 73,11,789 11. Expenses disallowed ` 54,18,018 12. Purchases addition

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 375/NAG/2024[2018-19]Status: DisposedITAT Nagpur18 Nov 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Sandipkumar Salunke
Section 142(1)Section 143Section 144BSection 68

deeming fiction of section 68 have been invoked only on the basis of non-furnishing of tax returns and bank statement of lenders. 2 Ravindra Madanlal Khandelwal ITA no.375/Nag./2024 2. Whether on the facts and circumstances of the case, the learned First Appellate Authority was justified in endorsing disallowing of interest income of Rs.74,32,292/-. 3. Whether