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17 results for “capital gains”+ Section 10(38)clear

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Key Topics

Section 14724 Section 143(3)22 Section 26316 Section 14815 Section 153A15 Section 10(38)13 Section 25011 Addition to Income10 Reopening of Assessment8 Capital Gains

AMAR KASERA (HUF),PATNA vs. ACIT CENTRAL CIRCLE-1, PATNA

In the result, all the captioned appeals of the assessee stand allowed

ITA 180/PAT/2023[2013-14]Status: DisposedITAT Patna29 Jan 2025AY 2013-14

Bench: Sri Sanjay Garg & Shri Sanjay Awasthi

Section 133ASection 143(3)Section 148Section 153ASection 250

section 10(38) in respect of long-term capital gain earned on sale of shares - Assessing Officer denied exemption on ground

AMAR KASERA (HUF),PATNA vs. ACIT CENTRAL CIRCLE-1, PATNA

In the result, all the captioned appeals of the assessee stand allowed

7

Section 143(2)6

Search & Seizure6

ITA 183/PAT/2023[2015-16]Status: Disposed

ITAT Patna

29 Jan 2025

AY 2015-16

Bench: Sri Sanjay Garg & Shri Sanjay Awasthi

Section 133ASection 143(3)Section 148Section 153ASection 250

section 10(38) in respect of long-term capital gain earned on sale of shares - Assessing Officer denied exemption on ground

AMAR KASERA (HUF),PATNA vs. ACIT CENTRAL CIRCLE-1, PATNA

In the result, all the captioned appeals of the assessee stand allowed

ITA 182/PAT/2023[2015-16]Status: DisposedITAT Patna29 Jan 2025AY 2015-16

Bench: Sri Sanjay Garg & Shri Sanjay Awasthi

Section 133ASection 143(3)Section 148Section 153ASection 250

section 10(38) in respect of long-term capital gain earned on sale of shares - Assessing Officer denied exemption on ground

AMAR KASERA (HUF),PATNA vs. ACIT CENTRAL CIRCLE-1, PATNA

In the result, all the captioned appeals of the assessee stand allowed

ITA 181/PAT/2023[2014-15]Status: DisposedITAT Patna29 Jan 2025AY 2014-15

Bench: Sri Sanjay Garg & Shri Sanjay Awasthi

Section 133ASection 143(3)Section 148Section 153ASection 250

section 10(38) in respect of long-term capital gain earned on sale of shares - Assessing Officer denied exemption on ground

AMAR KASERA (HUF),PATNA vs. ACIT CENTRAL CIRCLE-1, PATNA

In the result, all the captioned appeals of the assessee stand allowed

ITA 179/PAT/2023[2011-12]Status: DisposedITAT Patna29 Jan 2025AY 2011-12

Bench: Sri Sanjay Garg & Shri Sanjay Awasthi

Section 133ASection 143(3)Section 148Section 153ASection 250

section 10(38) in respect of long-term capital gain earned on sale of shares - Assessing Officer denied exemption on ground

SANGEETA GOEL,PATNA vs. CCIT, NFAC, PATNA

In the result, appeal of the assessee is allowed

ITA 211/PAT/2024[2013-14]Status: DisposedITAT Patna12 Apr 2024AY 2013-14

Bench: Shri Sonjoy Sarma, Hon’Blei.T.A. No. 211/Pat/2024 Assessment Year: 2013-14 Sangeeta Goel Chief Commissioner Of Income-Tax/Nfac 506, Santosha Complex Vs Fraser Road Bander Bagicha Patna - 800001 [Pan: Acbpg0887A] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S.K. Tulsiyan, Advocate Revenue By : Shri Sushil Kumar Mishra, Jcit D/R सुनवाई क" तारीख/Date Of Hearing : 06/03/2024 घोषणा क" तारीख /Date Of Pronouncement: 12/04/2024 आदेश/O R D E R Per, Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre (Hereinafter The “Ld. Cit(A)”) Dt. 30/11/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2013-14. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. A. That The Initiation Of Proceeding U/S 147 R.W.S 148 Of The It Act, 1961 Based On Alleged Information Of Bogus Trade Amounting To Rs. 35,09,213/- In The Shares & Securities Of M/S Ayaan Commercial Pvt Ltd Being Bereft Of Fact & Assessee Having Not Carried On Any Such Transaction, The Assumption Of Jurisdiction U/S 147 Of The It Act, 1961 Is Bad In Law. B. That The Ld. A.O. Having Rejected The Objection Of The Assessee Although These Facts Are Brought On Record His Action In Doing So Is Bad In Law. C. That The Reopening U/S 147 Was Based On Mere Suspicion & Surmises, The Proceeding U/S 147 R.W.S. 148 Of The It Act, 1961 Is Bad In Law.

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri Sushil Kumar Mishra, JCIT D/R

Section 143(1)Section 147Section 148Section 250

10(38) of the Act. Thereafter, the assessee preferred appeal before the ld. CIT(A) taking a legal ground challenging the initiation of proceedings u/s 147/148 of the Act but failed to succeed as ld. CIT(A) was of the view that the assessee had claimed long term capital gain in her return of income and Assessing Officer had information

DOLLY GHOSH,BHAGALPUR vs. ACIT CENTRAL CIRCLE 1 PATNA, PATNA

In the result, the appeal of the assessee is allowed

ITA 182/PAT/2022[2012-13]Status: DisposedITAT Patna08 Oct 2024AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 234ASection 269SSection 269TSection 271DSection 271E

38 of the paper book. In response to 3 Assessment Year: 2012-2013 Dolly Ghosh the notice, the assessee filed the return, thereafter the ld. Assessing Officer has passed the assessment order. The ld. Assessing Officer did not make any addition to the income of the assessee. The observations made by him deserve to be noted, which read as under

SANJU SINHA,PATNA vs. ITO WARD- 6 (1), PATNA

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 108/PAT/2023[2015-16]Status: DisposedITAT Patna24 Sept 2024AY 2015-16

Bench: Shri Rajpal Yadav, Vp & Dr. Manish Borad, Am Sanju Sinha, Ito, Ward 6(1) Khajpura, B. V College, Patna-800 001 Khajpura, Patna-800014, Vs. Bihar Bihar (Appellant) (Respondent) Pan No. Apkps0784A Assessee By : Shri Prasoon Kr., Ar Revenue By : Shri Ashwani Kr. Singal, Dr Date Of Hearing: 10.09.2024 Date Of Pronouncement : 24.09.2024

For Appellant: Shri Prasoon Kr., ARFor Respondent: Shri Ashwani Kr. Singal, DR

Section 143Section 143(3)Section 147Section 151Section 2Section 2(47)Section 250Section 45

capital gain. Sanju Sinha; A.Y. 2015-16 6. For that the assessing office neither recorded valid reason nor the JCIT and Commissioner accorded valid sanction as prescribed undersection 151 of the Act, as such, whole of the re-assessment proceeding and levy of tax is bad in law. 7. For that the assessing officer had not deducted index cost while

BRIJ KUMAR MISHRA,BUXAR vs. ITO, WARD-1(5), BUXAR

In the result, the appeals of the assessee are allowed

ITA 18/PAT/2021[2015-16]Status: DisposedITAT Patna15 Oct 2025AY 2015-16

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Shri Kant Mishra Income Tax Officer Maha Laxmi Steel Ward-1(5) Vs. Station Road, Buxar-802101 Buxar, Bihar (Appellant) (Respondent) Pan No. Afipm0714N Brij Kumar Mishra Plot No. 36, Gajadhar Ganj, Ram Ito, Ward-1(5) Bagh, Buxar, Buxar, Bihar, Buxar, Buxar, Bihar Vs. 802101 (Appellant) (Respondent) Pan No.Afipm0712L Ajeet Kumar Mishra Ito, Ward-1(5) Buxar, Bihar, 802101 Buxar, Buxar, Bihar Vs. (Appellant) (Respondent) Pan No. Afipm0713M Arun Kumar Mishra Opp. Mahatma Gandhi Magar, Ito, Ward-1(5) Bazar Samity, Rambagh, Buxar, Buxar, Buxar, Bihar Vs. Buxar, Bihar, 802101 (Appellant) (Respondent) Pan No. Afipm0716Q Assessee By : Shri Sudipta Sannigrahi, Ar Revenue By : Shri Rajat Datta, Dr Date Of Hearing: 29.07.2025 Date Of Pronouncement: 15.10.2025

For Appellant: Shri Sudipta Sannigrahi, ARFor Respondent: Shri Rajat Datta, DR

Section 10(38)Section 143(2)Section 143(3)Section 263

10(38) of the Act with proper verification and inquiry in accordance with the provisions of law after affording reasonable opportunity of being heard to the assessee. For A.Y. 2015-16 ITA Nos. 17, 18, 20 & 21/PAT/2021 07. The learned Authorized Representative vehemently submitted before us that the jurisdiction under section 263 of the Act has been invoked

ARUN KUMAR MISHRA,BUXAR vs. PR.CIT-1, PATNA

In the result, the appeals of the assessee are allowed

ITA 21/PAT/2021[2015-16]Status: DisposedITAT Patna15 Oct 2025AY 2015-16

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Shri Kant Mishra Income Tax Officer Maha Laxmi Steel Ward-1(5) Vs. Station Road, Buxar-802101 Buxar, Bihar (Appellant) (Respondent) Pan No. Afipm0714N Brij Kumar Mishra Plot No. 36, Gajadhar Ganj, Ram Ito, Ward-1(5) Bagh, Buxar, Buxar, Bihar, Buxar, Buxar, Bihar Vs. 802101 (Appellant) (Respondent) Pan No.Afipm0712L Ajeet Kumar Mishra Ito, Ward-1(5) Buxar, Bihar, 802101 Buxar, Buxar, Bihar Vs. (Appellant) (Respondent) Pan No. Afipm0713M Arun Kumar Mishra Opp. Mahatma Gandhi Magar, Ito, Ward-1(5) Bazar Samity, Rambagh, Buxar, Buxar, Buxar, Bihar Vs. Buxar, Bihar, 802101 (Appellant) (Respondent) Pan No. Afipm0716Q Assessee By : Shri Sudipta Sannigrahi, Ar Revenue By : Shri Rajat Datta, Dr Date Of Hearing: 29.07.2025 Date Of Pronouncement: 15.10.2025

For Appellant: Shri Sudipta Sannigrahi, ARFor Respondent: Shri Rajat Datta, DR

Section 10(38)Section 143(2)Section 143(3)Section 263

10(38) of the Act with proper verification and inquiry in accordance with the provisions of law after affording reasonable opportunity of being heard to the assessee. For A.Y. 2015-16 ITA Nos. 17, 18, 20 & 21/PAT/2021 07. The learned Authorized Representative vehemently submitted before us that the jurisdiction under section 263 of the Act has been invoked

SHRI KANT MISHRA,BUXAR vs. ITO, WARD-1(5), BUXAR

In the result, the appeals of the assessee are allowed

ITA 17/PAT/2021[2015-16]Status: DisposedITAT Patna15 Oct 2025AY 2015-16

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Shri Kant Mishra Income Tax Officer Maha Laxmi Steel Ward-1(5) Vs. Station Road, Buxar-802101 Buxar, Bihar (Appellant) (Respondent) Pan No. Afipm0714N Brij Kumar Mishra Plot No. 36, Gajadhar Ganj, Ram Ito, Ward-1(5) Bagh, Buxar, Buxar, Bihar, Buxar, Buxar, Bihar Vs. 802101 (Appellant) (Respondent) Pan No.Afipm0712L Ajeet Kumar Mishra Ito, Ward-1(5) Buxar, Bihar, 802101 Buxar, Buxar, Bihar Vs. (Appellant) (Respondent) Pan No. Afipm0713M Arun Kumar Mishra Opp. Mahatma Gandhi Magar, Ito, Ward-1(5) Bazar Samity, Rambagh, Buxar, Buxar, Buxar, Bihar Vs. Buxar, Bihar, 802101 (Appellant) (Respondent) Pan No. Afipm0716Q Assessee By : Shri Sudipta Sannigrahi, Ar Revenue By : Shri Rajat Datta, Dr Date Of Hearing: 29.07.2025 Date Of Pronouncement: 15.10.2025

For Appellant: Shri Sudipta Sannigrahi, ARFor Respondent: Shri Rajat Datta, DR

Section 10(38)Section 143(2)Section 143(3)Section 263

10(38) of the Act with proper verification and inquiry in accordance with the provisions of law after affording reasonable opportunity of being heard to the assessee. For A.Y. 2015-16 ITA Nos. 17, 18, 20 & 21/PAT/2021 07. The learned Authorized Representative vehemently submitted before us that the jurisdiction under section 263 of the Act has been invoked

AJEET KUMAR MISHRA,BUXAR vs. PR.CIT-1, PATNA

In the result, the appeals of the assessee are allowed

ITA 20/PAT/2021[2015-16]Status: DisposedITAT Patna15 Oct 2025AY 2015-16

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Shri Kant Mishra Income Tax Officer Maha Laxmi Steel Ward-1(5) Vs. Station Road, Buxar-802101 Buxar, Bihar (Appellant) (Respondent) Pan No. Afipm0714N Brij Kumar Mishra Plot No. 36, Gajadhar Ganj, Ram Ito, Ward-1(5) Bagh, Buxar, Buxar, Bihar, Buxar, Buxar, Bihar Vs. 802101 (Appellant) (Respondent) Pan No.Afipm0712L Ajeet Kumar Mishra Ito, Ward-1(5) Buxar, Bihar, 802101 Buxar, Buxar, Bihar Vs. (Appellant) (Respondent) Pan No. Afipm0713M Arun Kumar Mishra Opp. Mahatma Gandhi Magar, Ito, Ward-1(5) Bazar Samity, Rambagh, Buxar, Buxar, Buxar, Bihar Vs. Buxar, Bihar, 802101 (Appellant) (Respondent) Pan No. Afipm0716Q Assessee By : Shri Sudipta Sannigrahi, Ar Revenue By : Shri Rajat Datta, Dr Date Of Hearing: 29.07.2025 Date Of Pronouncement: 15.10.2025

For Appellant: Shri Sudipta Sannigrahi, ARFor Respondent: Shri Rajat Datta, DR

Section 10(38)Section 143(2)Section 143(3)Section 263

10(38) of the Act with proper verification and inquiry in accordance with the provisions of law after affording reasonable opportunity of being heard to the assessee. For A.Y. 2015-16 ITA Nos. 17, 18, 20 & 21/PAT/2021 07. The learned Authorized Representative vehemently submitted before us that the jurisdiction under section 263 of the Act has been invoked

PRABHU DAYAL BHARTIYA ,PATNA vs. DC/AC CIRCLE-4, PATNA, PATNA

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 372/PAT/2025[2013-14]Status: DisposedITAT Patna15 Oct 2025AY 2013-14

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishrai.T.A. No.372/Pat/2025 Assessment Year: 2013-14 Prabhu Dayal Bhartiya (Huf)….………. …………………....Appellant 701, Shanti Kunj, Chajjubagh, Patna, Bihar- 800001.. [Pan: Aachp7738Q] Vs. Dc/Ac, Circle-4, Patna…....…..……………..………………….…..... Respondent Appearances By: None Appeared On Behalf Of The Appellant. Shri Ashwani Kr. Singal, Jcit, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 14, 2025 Date Of Pronouncing The Order : October 15, 2025 आदेश / Order Per Sonjoy Sarma: This Appeal Is Directed By The Assessee Against The Order Dated 16.07.2025 Passed By The Nfac Under Section 250 Of The Income-Tax Act, 1961. 2. Brief Facts Of The Case Are That The Assessee, A Hindu Undivided Family (Huf), Filed Its Return Of Income For The Assessment Year 2013– 14 Declaring A Total Income Of ₹6,120/-. The Case Was Reopened Under Section 147 Of The Income-Tax Act, 1961 On The Basis Of Information Received From The Investigation Wing That The Assessee Was A Beneficiary Of Accommodation Entries In The Form Of Long-Term Capital Gains (Ltcg) From The Sale Of Shares Amounting To ₹55,16,804/- Received From M/S. Aayan Commercial Pvt. Ltd. & Its Associate Concerns. It

Section 10(38)Section 147Section 148Section 250Section 68

Capital Gains (LTCG) from the sale of shares amounting to ₹55,16,804/- received from M/s. Aayan Commercial Pvt. Ltd. and its associate concerns. It I.T.A. No.372/Pat/2025 Prabhu Dayal Bhartiya (HUF) was further reported that the assessee had claimed exemption of ₹36,95,540/- under section 10(38

XAVIERS CONSTRUCTION PVT LTD,PATNA vs. ITO WARD- 2 (2), PATNA

In the result, the appeal of the assessee is dismissed

ITA 349/PAT/2023[2015-16]Status: DisposedITAT Patna21 Mar 2025AY 2015-16

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 349/Pat/2023 Assessment Year: 2015-2016 Xaviers Construction Pvt. Limited,....……Appellant House No. 239, Lodipur, Patna-800001, Bihar [Pan:Aaacx0342D] -Vs.- Income Tax Officer,………………………….....Respondent Ward-2(2), Patna Appearances By: Shri Anjan Biswas, Fca, Appeared On Behalf Of The Assessee Shri Ashwani Kr. Singal, Jcit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: February 13, 2025 Date Of Pronouncing The Order: March 21, 2025 O R D E R

section 143(2) and 142(1) of the Income Tax Act were issued and served upon the assessee. During the scrutiny proceedings, the ld. Assessing Officer has observed that the appellant has earned income on account of sale of three flats. The ld. Assessing Officer further observed that during the financial year 2014-15, the assesee had recognized income

ZAIMUR RAHMAN,EAST CHAMPARAN vs. INCOME TAX DEPARTMENT, NFAC, DELHI

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

ITA 321/PAT/2025[2015-16]Status: DisposedITAT Patna07 Oct 2025AY 2015-16

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 115BSection 144BSection 147Section 148Section 149Section 250Section 68Section 69A

10. For that the ld. Commissioner of Income Tax (Appeal) as well as the ld. assessing officer, without giving any opportunity, much less sufficient opportunity, has erred in holding that the opening balance of Proprietor's Capital (being the closing balance as on 31/03/2015) to the tune of Rs.3,45,16,118 is unexplained cash credit under section 68 read

MASUDAN TANTI,BHAGALPUR vs. CIT, NFAC, DELHI

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 29/PAT/2023[2013-14]Status: DisposedITAT Patna22 Jul 2024AY 2013-14

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2013-14

For Appellant: Shri R. N. Bedi, CAFor Respondent: Dr. Lalita Kumari, Sr. DR

Section 142(1)Section 147Section 148Section 250Section 44

10. That the cash deposits are not made in any single day but on different days cash deposit are cash sales and withdrawals arefor the purchase from the different parties. That definitely I have very small business and any how maintaining my life. I am not maintaining any books of account due to very small business man, 11. That further

PUNRASAR JUTE PARK LIMITED,PURNEA vs. CIT, PURNEA

In the result, the appeal of the assessee is allowed

ITA 432/PAT/2024[2015-16]Status: DisposedITAT Patna05 Sept 2024AY 2015-16

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

Section 133(6)Section 142(1)Section 142(2)Section 143(1)Section 143(3)Section 147Section 148

capital is received from this company. This fact demonstrates that reopening is based on vague reasons. 10. On the given set of facts, where the alleged unsecured loan/ cash creditors have already been examined by the ld. Assessing Officer in the regular assessment proceedings u/s 143(3) of the Act and there is no transaction at all between third party