RAJESH SARDA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), NAGPUR
In the result, the addition of undisclosed income under section 68 is deleted
ITA 44/NAG/2022[2015-16]Status: DisposedITAT Nagpur24 Feb 2026AY 2015-16
Bench: Shri Pawan Singh & Shri Khettra Mohan Roy(Physical Hearing) Rajesh Sarda, Acit, Central Circle – 2(2), Nagpur 14, Daga Lay–Out, Ambazari Road, Vs Aayakar Bhawan, Civil Lines, Nagpur – 440033. Maharashtra – 440001. [Pan: Ahaps4925M] Appellant / Assessee Respondent / Revenue Assessee By Shri K.P. Dewani, Advocate Revenue By Shri Pankaj Kumar, Cit–Dr Date Of Hearing 16.02.2026 Date Of Pronouncement 24.02.2026 Order Under Section 254(1) Of Income Tax Act
Section 10(38)Section 132Section 153ASection 234ASection 254(1)Section 68Section 69C
transferred to the share brokers and ultimately used for purchase of shares by various brokers / companies. On the basis of such observation, the AO treated the transaction of both the long term capital gain as sham transaction and aggregate of both the long term capital gains of Rs. 18.84
crore was treated income from undisclosed sources in the assessment order
