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4 results for “section 68”+ Section 216clear

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Key Topics

Section 2634Section 1474Section 153C3Section 683Addition to Income3Section 2502Section 143(2)2Section 1442Section 1542Cash Deposit

M/S MANISH FINLEASE (P) LTD,PATNA vs. ITO, WARD-2(1), PATNA

ITA 25/PAT/2019[2010-11]Status: DisposedITAT Patna09 Aug 2019AY 2010-11

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2010-2011 Manish Finlease Pvt Ltd., Vs. Ito, Ward 2(1), Patna Chandi House Exhibition Road, Patna Pan/Gir No.Aaccm 6252 B (Appellant) .. ( Respondent) Assessee By : Shri A.K.Rastogi & Rakesh Kumar, Ars Revenue By : Shri Indrajeet Singh, Dr Date Of Hearing : 20/06/ 2019 Date Of Pronouncement : 09/08/ 2019 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Cit(A)-1, Patna Dated 27.9.2018 For The Assessment Year 2010-2011. 2. The Appeal Filed By The Assessee Is Delayed By 51 Days. The Assessee Has Filed Application For Condonation Of Delay Stating The Reasons For Not Filing The Appeal In Time Before The Tribunal. After Hearing The Submissions Of The Parties, We Are Satisfied That The Assessee Had A Bonafide Reason For Not Filing The Appeal In Time. Therefore, We Condone The Delay & Proceed To Decide The Appeal Of The Assessee On Merits.

For Appellant: Shri A.K.Rastogi & Rakesh Kumar, ARsFor Respondent: Shri Indrajeet Singh, DR
Section 133(6)Section 143(2)Section 143(3)Section 147Section 148(1)Section 68
2
Limitation/Time-bar2
Condonation of Delay2

section 68 of the Act is to establish identity of the creditor. capacity of the creditor and genuineness of the transaction to the satisfaction of the AO which is discharged if the assessee proves these three ingredients. The Hon'ble High Court Kolkata in CIT Vs. Korlay Trading Co. Ltd. (1998) 232 ITR 820 (Cal) has held that mere

RAJBANSH RAM,BHABUA vs. ITO WARD- 3(5), SASARAM

In the result, the appeal of the assessee is partly allowed

ITA 351/PAT/2023[2017-18]Status: DisposedITAT Patna04 Jul 2025AY 2017-18

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 144Section 250Section 68

68 of the Act, which is stated to be fit to be reversed on the ground that no valid show cause notice as mandated in section 251(2) of the Act was I.T.A. No.: 351/PAT/2023 Assessment Year: 2017-18 Rajbansh Ram. issued by the NFAC. Further, the entire transactions and the source of the bank deposits not being

ACIT, CENTRAL CIRCLE-2, PATNA vs. M/S MAXXON VANIJYA & RESOURCES PVT LTD, KOLKATA

In the result, the order of the Ld

ITA 89/PAT/2021[2012-13]Status: DisposedITAT Patna08 Dec 2025AY 2012-13

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 132(1)Section 139Section 143(2)Section 144Section 153CSection 250

section 10.] Further, the Hon'ble Bombay High court in the case of CIT Vs. Gagandeep Infrastructure Pvt. Ltd. [2017] 80 taxmann.com 272 held that insertion of above proviso is prospective in nature and not retrospective. Therefore, taking into account assessment years under appeal (as this A.Y. is prior to A.Y. 2013-14) and all other facts as discussed

ASHUTOSH KUMAR PRABHAT,ARRAH vs. PCIT-1, PATNA

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

ITA 564/PAT/2024[2018-19]Status: DisposedITAT Patna06 May 2025AY 2018-19

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 147Section 154Section 263

68 of the Act. On going through the order of the Ld. AO, the ld. Pr. CIT noticed on examining the case of the assessee that the Ld. AO completed the assessment without making proper enquiry and verifications. Accordingly, the proceeding u/s 263 of the Act was initiated and an opportunity of being heard was given to the assessee vide