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21 results for “section 68”+ Revision u/s 263clear

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Key Topics

Section 26365Section 143(3)25Section 14721Addition to Income15Section 1489Section 1446Section 1456Section 142A6Section 35A6Revision u/s 263

VINAY RAMSHARANDAS AGRAWAL,NAGPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-II, NAGPUR

In the result, appeal by the assessee stands allowed

ITA 110/NAG/2023[2017-18]Status: DisposedITAT Nagpur21 Mar 2025AY 2017-18

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke
Section 143(3)Section 263

revision proceedingsconclusion of PCIT at para 7 that there is lack of enquiry is not correct. H)Before PCIT written submission was made along with documentary evidence (P-15-18). Copy of purchase deed, sale deed and other documentary evidence was placed on record to explain entire issues raised in the notice u/s 263

LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

Showing 1–20 of 21 · Page 1 of 2

4
Natural Justice3
Cash Deposit2
ITA 349/NAG/2024[2016-17]Status: DisposedITAT Nagpur22 Oct 2024AY 2016-17

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

For Appellant: Shri Abhay AgrawalFor Respondent: Shri Sandipkumar Salunke
Section 143(1)Section 143(3)Section 147Section 148Section 263Section 263(2)

revision proceedings u/s 263 will be reckoned from date of intimation order passed u/s 143(1) and not from date of order passed u/s 147. Accordingly, following will be due date to pass order u/s 263: 10 Latitude Infraventures ITA no.349 & 350/Nag./2024 A.Y. 2016–17 & 2017–18 Due Date for passing order Sr. u/s 263 (Two years from

LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

ITA 350/NAG/2024[2017-18]Status: DisposedITAT Nagpur22 Oct 2024AY 2017-18

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

For Appellant: Shri Abhay AgrawalFor Respondent: Shri Sandipkumar Salunke
Section 143(1)Section 143(3)Section 147Section 148Section 263Section 263(2)

revision proceedings u/s 263 will be reckoned from date of intimation order passed u/s 143(1) and not from date of order passed u/s 147. Accordingly, following will be due date to pass order u/s 263: 10 Latitude Infraventures ITA no.349 & 350/Nag./2024 A.Y. 2016–17 & 2017–18 Due Date for passing order Sr. u/s 263 (Two years from

GAJANAND FINANCIAL CONSULTANCY PRIVATE LIMITED,NAGPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) NAGPUR, NAGPUR

In the result, assessee’s appeal is allowed

ITA 126/NAG/2025[2013-2014]Status: DisposedITAT Nagpur22 Sept 2025AY 2013-2014

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Pankaj Kumar
Section 143(3)Section 263Section 68

section 263(1) and in para 4 of the notice issued u/s. 263 that the impugned issue in the assessment order has not been dealt with by AO is incorrect in view of above facts of the case and further examination and verification of the impugned issue as mentioned in para 4 of the notice issued u/s. 263 is vitiated

ITO, WARD- 1)1), NAGPUR vs. AXYKNO ENTERPRISES PVT. LTD., NAGPUR

In the result, appeal filed by the Revenue is dismissed

ITA 47/NAG/2019[2012-13]Status: DisposedITAT Nagpur02 Sept 2024AY 2012-13

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

For Appellant: Shri Kapil Hirani a/wFor Respondent: Shri Kailash C. Kanojiya
Section 132(4)Section 143(3)Section 263Section 68

revise the order so passed under section 143(3) of the Act holding it to be erroneous and prejudicial to the interests of the Revenue, and pursuant to which the pcit learned PCIT passed the order under section 263 on 14/03/2017, directing the Assessing Officer to pass a fresh assessment order in view of the findings of Shri Praveen Kumar

SUSHILA BHAURAO DESHMUKH,AMRAVATI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, NAGPUR

In the result, appeal filed by the assessee is allowed

ITA 76/NAG/2022[2017-18]Status: DisposedITAT Nagpur20 Sept 2024AY 2017-18

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

For Appellant: ShriK.P. DewaniFor Respondent: Shri Sandeep Salunke
Section 143(3)Section 263Section 263(1)Section 54BSection 54E

u/s 263 could be invoked.‖ 10. On the other hand, the learned Departmental Representative vehemently submitted that the revisional proceedings have been correctly initiated. He submitted that the assessee had miserably failed to comply with the conditions of section 54B and 54EC of the Act and thus the appeal needs to be dismissed. He submitted that in any case

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR, NAGPUR vs. M/S. SUFLAM INFRA PROJECT LTD, NAGPUR

In the result, the departmental appeal is dismissed

ITA 46/NAG/2021[2014-15]Status: DisposedITAT Nagpur29 Jul 2024AY 2014-15

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

For Appellant: Shri Kapil Hirani, Adv &For Respondent: Shri Kailash C. Kanojiya, CTI DR
Section 143(3)Section 263Section 68

u/s 68 of the I.T. Act. However, CIT(A) had directed deletion of the amount. ITA NO.97/NAG/2019 & ITA NO. 46/NAG/2021 & CO NO.6/NAG/2023 Sufalam Infra Projects Ltd vrs Pr.CIT (Central) 2. We have already held in ITA No.97/Nag/2019 that the revision order is unsustainable for the detailed reasons as enunciated above. Since the very basis of invocation of Section 263

SUFALAM INFRA PROJECTS LTD ,NAGPUR vs. PR. CIT (CENTRAL ), NAGPUR

In the result, the departmental appeal is dismissed

ITA 97/NAG/2019[2014-15]Status: DisposedITAT Nagpur29 Jul 2024AY 2014-15

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

For Appellant: Shri Kapil Hirani, Adv &For Respondent: Shri Kailash C. Kanojiya, CTI DR
Section 143(3)Section 263Section 68

u/s 68 of the I.T. Act. However, CIT(A) had directed deletion of the amount. ITA NO.97/NAG/2019 & ITA NO. 46/NAG/2021 & CO NO.6/NAG/2023 Sufalam Infra Projects Ltd vrs Pr.CIT (Central) 2. We have already held in ITA No.97/Nag/2019 that the revision order is unsustainable for the detailed reasons as enunciated above. Since the very basis of invocation of Section 263

NIRMALKUMAR AGRAWAL HUF,NAGPUR vs. INCOME TAX OFFICER, WARD-2, BHANDARA

In the result, assessee’s appeal stands allowed

ITA 242/NAG/2025[2018-19]Status: DisposedITAT Nagpur22 Sept 2025AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Rohan Loya a/wFor Respondent: Shri Pankaj Kumar
Section 139(1)Section 143(1)(a)Section 144BSection 147Section 148Section 263

68 of the Act. However, on the assessee's response that the loan was Rs. 20 lakh lakhs without any inquiry or verification the AO concluded that the transaction was of only Rs. 20 lakhs adding that the investigation wing due to oversight while preparing report, included the amount of Rs. 20 lakhs given to Vijay Kumar Goyal

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

ITA 140/NAG/2021[2018-19]Status: DisposedITAT Nagpur29 Jul 2024AY 2018-19

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

Section 142ASection 145

68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay Ltd. nt ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023 DETERMINATION OF STATUS OF ASSESSMENT RADHA MADHAV DEVELOPERS Particulars AY 2011-12 AY 2012-23 AY 2013-14 Return filed u/s

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER , NAGPUR

In the result, all the six appeals preferred by the department are dismissed

ITA 47/NAG/2021[2011-12]Status: DisposedITAT Nagpur29 Jul 2024AY 2011-12

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

Section 142ASection 145

68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay Ltd. nt ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023 DETERMINATION OF STATUS OF ASSESSMENT RADHA MADHAV DEVELOPERS Particulars AY 2011-12 AY 2012-23 AY 2013-14 Return filed u/s

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1),NAGPUR, NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

ITA 48/NAG/2021[2012-13]Status: DisposedITAT Nagpur29 Jul 2024AY 2012-13

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

Section 142ASection 145

68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay Ltd. nt ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023 DETERMINATION OF STATUS OF ASSESSMENT RADHA MADHAV DEVELOPERS Particulars AY 2011-12 AY 2012-23 AY 2013-14 Return filed u/s

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

ITA 26/NAG/2020[2014-15]Status: DisposedITAT Nagpur29 Jul 2024AY 2014-15

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

Section 142ASection 145

68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay Ltd. nt ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023 DETERMINATION OF STATUS OF ASSESSMENT RADHA MADHAV DEVELOPERS Particulars AY 2011-12 AY 2012-23 AY 2013-14 Return filed u/s

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

ITA 27/NAG/2020[2015-16]Status: DisposedITAT Nagpur29 Jul 2024AY 2015-16

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

Section 142ASection 145

68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay Ltd. nt ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023 DETERMINATION OF STATUS OF ASSESSMENT RADHA MADHAV DEVELOPERS Particulars AY 2011-12 AY 2012-23 AY 2013-14 Return filed u/s

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA RADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

ITA 49/NAG/2021[2013-14]Status: DisposedITAT Nagpur29 Jul 2024AY 2013-14

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

Section 142ASection 145

68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay Ltd. nt ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023 DETERMINATION OF STATUS OF ASSESSMENT RADHA MADHAV DEVELOPERS Particulars AY 2011-12 AY 2012-23 AY 2013-14 Return filed u/s

VIKAS GUPTA ,INDORE vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), NAGPUR, NAGPUR

In the result, assessee’s appeal stands allowed

ITA 186/NAG/2024[2016-17]Status: DisposedITAT Nagpur21 Mar 2025AY 2016-17

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

For Appellant: Ms. Neha JainFor Respondent: Shri Sandipkumar Salunke
Section 132Section 139(1)Section 143(3)Section 153ASection 263

68 do no emanate from any seized documents which are incriminating in nature. In this regard, we refer and rely upon the decision of the Co–ordinate Bench of the Tribunal, Kolkata Bench, in Arati Ray v/s DCIT, ITA no.778/Kol./2024, for the assess– ment year 2014–15, order dated 11/07/2024, wherein the Bench, on identical issue, held as under

INCOME TAX OFFICER WARD-2, KHAMGAON, KHAMGAON vs. RENUKA OIL INDUSTRIES, KHAMGAON

In the result, Revenue’s appeal stands dismissed

ITA 390/NAG/2024[2013-14]Status: DisposedITAT Nagpur27 Jan 2025AY 2013-14

Bench: Shri V. Durga Rao

For Appellant: NoneFor Respondent: Shri Sandipkumar Salunke
Section 139Section 139(1)Section 139(4)Section 143(2)Section 154Section 35A

revised (though invalid) ITR/Audit report, not making claim of depreciation alternatively allowable u/s 32 on the capital expenditure incurred by the appellant on construction of the Warehouse in accordance with section 35AD(4), not disputing the factum or quantum (except disallowance of construction expenses of Rs 1.90.70,349 discussed in succeeding paragraphs) of investment in construction of the warehouse

INCOME TAX OFFICER WARD 4(3), NAGPUR vs. NARESH NARAYANDAS RAMRAKHYANI, NAGPUR

In the result, the appeal is allowed for statistical purposes

ITA 633/NAG/2024[2018-19]Status: DisposedITAT Nagpur05 Feb 2025AY 2018-19

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

For Appellant: Shri Naresh GuptaFor Respondent: Shri Sandipkumar Salunke
Section 142(1)Section 144Section 147Section 148Section 251(1)(a)

u/s 271AAC is initiated separately in this case. 4.7 However, a perusal of the trading account of the appellant demonstrates that the appellant has made cash sales of Rs.23,12,02,480/- and cash purchase of Rs.22,68,13,026/-. The opening stock and the closing stock of the appellant is also clearly available. Therefore, in the interest of fairness

INCOME TAX OFFICER WARD 4(3), NAGPUR vs. NARESH NARAYANDAS RAMRAKHYANI, NAGPUR

In the result, the appeal is allowed for statistical purposes

ITA 632/NAG/2024[2015-16]Status: DisposedITAT Nagpur05 Feb 2025AY 2015-16

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

For Appellant: Shri Naresh GuptaFor Respondent: Shri Sandipkumar Salunke
Section 142(1)Section 144Section 147Section 148Section 251(1)(a)

u/s 271AAC is initiated separately in this case. 4.7 However, a perusal of the trading account of the appellant demonstrates that the appellant has made cash sales of Rs.23,12,02,480/- and cash purchase of Rs.22,68,13,026/-. The opening stock and the closing stock of the appellant is also clearly available. Therefore, in the interest of fairness

SNNEHSHILP CONSTRUCTIONS,AURANGABAD vs. ITO WARD 1(5), NAGPUR

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

ITA 413/NAG/2023[2005-2006]Status: DisposedITAT Nagpur11 Jul 2024AY 2005-2006

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

For Appellant: Shri Milind BhusariFor Respondent: Shri Abhay Y. Marathe
Section 143(3)Section 144Section 263Section 40

revision order passed under section 263 of the Act, the assessee preferred appeal before the Tribunal. The Co–ordinate Bench of the Tribunal decided the appeal of the assessee vide order dated 28/08/2015, in ITA No.113/Nag/2009, and set-aside the matter to the file of the Assessing Officer with following direction: ".....In these circumstances in our considered opinion, though