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) of the Act on account of such alleged bogus LTCG. Accordingly, after
