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158 results for “capital gains”+ Section 271clear

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Key Topics

Section 271(1)(c)106Section 143(3)66Addition to Income66Penalty59Section 14850Section 14741Section 115B34Section 27432Section 25026Section 68

M/S. CHAKRABARTY MEDICAL CENTRE,,PUNE vs. INCOME-TAX OFFICER,,

In the result, appeal of assessee is allowed

ITA 1137/PUN/2016[2008-09]Status: DisposedITAT Pune28 Sept 2018AY 2008-09

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1137/Pun/2016 यििाारण वषा / Assessment Year : 2008-09 M/S. Chakrabarty Medical Centre, C-802, Palmdale, California Apartments, Nibm, Undri Road, अऩीऱाथी/Appellant Pune – 411060 …. Pan: Aabfc5809Q Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 1, Ahmednagar अऩीऱाथी की ओर से / Appellant By : Shri Nikhil Pathak प्रत्यथी की ओर से / Respondent By : Shri Sanjeev Ghei

For Appellant: Shri Nikhil PathakFor Respondent: Shri Sanjeev Ghei
Section 143(1)Section 148Section 271(1)(c)Section 50

capital gain in its return of income filed originally nor in the return of income filed in response to notice under section 148 of the Act, the Assessing Officer initiated penalty proceedings under section 271

Showing 1–20 of 158 · Page 1 of 8

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20
Capital Gains19
Long Term Capital Gains19

RAKESH YASHWANT SHINDE,,PUNE vs. INCOME-TAX OFFICER, WARD - 8(3),, PUNE

Appeal is dismissed

ITA 1133/PUN/2018[2014-15]Status: DisposedITAT Pune27 Jul 2022AY 2014-15

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.1133/Pun/2018 िनधा"रण वष" / Assessment Year : 2014-15 Rakesh Yashwanth Shinde, The Income Tax Officer, Shop No.24, Rachana Industrial Vs Ward-8(3), Pune. Complex, Telco Road, Bhosari, Pune – 411034. Pan: Aorps 8006F Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 13/07/2022 Date Of Pronouncement 27/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2014-15 Is Directed Against The Commissioner Of Income Tax(Appeals)-13, Pune’S Order Dated 05.03.2018 Passed In Case No. Cit(A)-13/16- 17/583/617, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

Section 143(3)Section 2(47)Section 2(47)(v)Section 271Section 53A

capital gains of Rs.19,10,690/- thereby invoking section 2(47)(v) of the Act, ITA No.1133/PUN/2018 for A.Y. 2014-15 Rakesh Yashwant Shinde Vs. ITO (A) we note that the CIT(A)’s detailed discussion to this effect reads as under: “5. DECISION: I have carefully considered the matter. Ground 4 is general in nature, while ground

MRS BALBIR KAUR BIRDIE ,MADHYA PRADESH vs. ITO 11(3), PUNE

In the result, the appeal of the Assessee is allowed

ITA 1466/PUN/2024[2016-17]Status: DisposedITAT Pune14 Jan 2025AY 2016-17

Bench: Shri Rama Kanta Panda & Shri Vinay Bhamore

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Ramnath P Murkunde
Section 142(1)Section 143(3)Section 144Section 264Section 271(1)(b)

capital gain, the assessee filed a revision petition u/sec.264 of the Act before the PCIT. The PCIT considered the said petition of the assessee and set aside the order passed u/sec.143(3) of the Act to the file of Assessing Officer to compute the income as per the provisions of law. Subsequently, the Assessing Officer issued two notices u/sec.142

AMOL VASANT DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

ITA 1837/PUN/2025[2015-16]Status: DisposedITAT Pune17 Dec 2025AY 2015-16

Bench: Dr. Manish Borad & Shri Vinay Bhamore

For Appellant: Shri Sarang Gudhate, CAFor Respondent: Shri Manoj Tripathi, Addl.CIT
Section 250Section 271(1)(c)Section 44ASection 54B

section 250 of the Income Tax Act, 2 ITA.Nos.1837-1839/PUN./2025 (Amol Vasant Deshmukh & Ors.) 1961 (“Act”) which are arising out of penalty orders passed u/s. 271(1)(c) of the Act, evenly dated 18/05/2018 for the Assessment Year (AY) 2015-16. 2. Registry has pointed out that there is a delay of 1918 days in each

TULSABAI VASANT DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

ITA 1838/PUN/2025[2015-16]Status: DisposedITAT Pune17 Dec 2025AY 2015-16

Bench: Dr. Manish Borad & Shri Vinay Bhamore

For Appellant: Shri Sarang Gudhate, CAFor Respondent: Shri Manoj Tripathi, Addl.CIT
Section 250Section 271(1)(c)Section 44ASection 54B

section 250 of the Income Tax Act, 2 ITA.Nos.1837-1839/PUN./2025 (Amol Vasant Deshmukh & Ors.) 1961 (“Act”) which are arising out of penalty orders passed u/s. 271(1)(c) of the Act, evenly dated 18/05/2018 for the Assessment Year (AY) 2015-16. 2. Registry has pointed out that there is a delay of 1918 days in each

ROHINI MARUTI DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

ITA 1839/PUN/2025[2015-16]Status: DisposedITAT Pune17 Dec 2025AY 2015-16

Bench: Dr. Manish Borad & Shri Vinay Bhamore

For Appellant: Shri Sarang Gudhate, CAFor Respondent: Shri Manoj Tripathi, Addl.CIT
Section 250Section 271(1)(c)Section 44ASection 54B

section 250 of the Income Tax Act, 2 ITA.Nos.1837-1839/PUN./2025 (Amol Vasant Deshmukh & Ors.) 1961 (“Act”) which are arising out of penalty orders passed u/s. 271(1)(c) of the Act, evenly dated 18/05/2018 for the Assessment Year (AY) 2015-16. 2. Registry has pointed out that there is a delay of 1918 days in each

RAMCHANDRAUDAYSINGHJADHAVRAO,PUNE vs. ACIT, CIRCLE-3, PUNE

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

ITA 1399/PUN/2024[2016-17]Status: DisposedITAT Pune24 Feb 2025AY 2016-17
Section 133ASection 139(1)Section 139(4)Section 143(1)Section 271(1)(c)Section 45(2)

section 271(1)(c) of\nthe Act is clearly attracted in this case.\n07. From the facts of the case it has been brought on record that the assessee has\nconverted the land inherited by the assessee form capital asset to stock in trade.\nThe reply given by the assessee in his statement is reproduced below:\n\"This land

POPATLAL MOHANLAL CHORDIA,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, appeal of the assessee is allowed on technicalities

ITA 781/PUN/2016[2008-09]Status: DisposedITAT Pune26 Sept 2018AY 2008-09

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No. 781/Pun/2016 िनधा$रण वष$ / Assessment Year : 2008-09

For Appellant: Shri Sunil GanooFor Respondent: Shri Sudhendu Das
Section 271Section 271(1)Section 271(1)(c)Section 50C

capital gain and has concealed his income to the tune of Rs.36,25,368/- as shown above and thereby made himself liable for levy of penalty u/s. 271(1)(c) of the Income Tax Act, 1961. I , therefore, levy a penalty u/s. 271(1)(c) of the Income Tax Act, 1961 of Rs.8,21,508/- which

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

ITA 1121/PUN/2024[2012-13]Status: DisposedITAT Pune18 Dec 2025AY 2012-13

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amit Bobde &
Section 115BSection 143(3)Section 147Section 148Section 155BSection 68

271(1)(c)/270A of the Act whereas no penalty per se is applicable for income added u/s.115BBC of the Act. We also observe that section 68 converts any credit entry not shown as income in the books of account, into income. For example unsecured loan, share capital, other capital receipts, share premium, sundry creditors etc. whereas in case

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

ITA 1124/PUN/2024[2015-16]Status: DisposedITAT Pune18 Dec 2025AY 2015-16

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amit Bobde &
Section 115BSection 143(3)Section 147Section 148Section 155BSection 68

271(1)(c)/270A of the Act whereas no penalty per se is applicable for income added u/s.115BBC of the Act. We also observe that section 68 converts any credit entry not shown as income in the books of account, into income. For example unsecured loan, share capital, other capital receipts, share premium, sundry creditors etc. whereas in case

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

ITA 1126/PUN/2024[2017-18]Status: DisposedITAT Pune18 Dec 2025AY 2017-18

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amit Bobde &
Section 115BSection 143(3)Section 147Section 148Section 155BSection 68

271(1)(c)/270A of the Act whereas no penalty per se is applicable for income added u/s.115BBC of the Act. We also observe that section 68 converts any credit entry not shown as income in the books of account, into income. For example unsecured loan, share capital, other capital receipts, share premium, sundry creditors etc. whereas in case

SARIKA AMIT SANAP,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 3,, AURANGABAD

In the result, assessee‟s appeal is dismissed

ITA 77/PUN/2019[2015-16]Status: DisposedITAT Pune16 Aug 2022AY 2015-16
For Appellant: NoneFor Respondent: Shri M.G. Jasnani
Section 10Section 10(38)Section 131

capital gains from the transactions which she claimed as exempt from taxation u/s 10 clause (38) of the Act. This entire edifice was absolutely a colourable device to give the colour of genuineness of these transactions to which she was successful in bringing back her own unaccounted cash into her books without the need to pay any taxes

ALLAN EMANUEL FERNANDES,,PUNE vs. INCOME-TAX OFFICER,,

In the result, appeal of the assessee is allowed

ITA 2493/PUN/2016[2010-11]Status: DisposedITAT Pune31 Aug 2018AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.2493/Pun/2016 "नधा"रण वष" / Assessment Year : 2010-11

For Appellant: Shri R.M.Rajapurkar
Section 54F

capital gain arising from sale of property was invested for purchase of a residential house jointly in the names of assessee’s wife and unmarried daughter. The ld. AR submitted that originally property was owned by his father in law and after his death in 2006, the property was inherited by Mrs. Fiona Allan Fernandas. The name of the assessee

ASST. CIT, CIRCLE-6, PUNE vs. SAKAL PAPERS LIMITED,, PUNE

In the result, appeal of the Revenue in ITA No

ITA 926/PUN/2013[2006-07]Status: DisposedITAT Pune20 Dec 2018AY 2006-07

Bench: Shri R.S. Syal, Vp & Shri Partha Sarathi Chaudhury, Jm

For Appellant: Shri Ashok KotharyFor Respondent: Shri Sudhendu Das
Section 80I

gain on sale of such shares amounting to Rs.7,13,29,191/-. In the assessment framed u/s.143(3) of the Act, the Assessing Officer assessed the same as business income on the reason that the act of the assessee shifting the value of stock- in-trade to the head investment clearly indicated the colourable mind of the assessee and thus

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SMT. MADHURI SUNIL KOTECHA,,

In the result, the appeal of Revenue is dismissed

ITA 1243/PUN/2014[2006-07]Status: DisposedITAT Pune28 Mar 2018AY 2006-07

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Hari KrishanFor Respondent: Shri Achal Sharma
Section 10Section 10(32)Section 143(2)Section 271(1)(c)

section 271(1)(c) for which penalty proceedings are being initiated. The relevant extract of the assessment order where the Assessing Officer has recorded satisfaction is reproduced here-in-below : “2. ………….Notice u/s. 271(1)(c) of the I.T. Act, 1961 is being issued in respect of the long term capital gains

KISHOR MADHAV PARANJAPE,PUNE vs. DCIT, CENTRAL CIRCLE 2(2), PUNE

In the result, appeal of the Assessee is partly allowed for statistical purpose

ITA 1887/PUN/2019[2015-16]Status: DisposedITAT Pune30 Jun 2022AY 2015-16

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.1887/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 Kishor Madhav Paranjape, The Dcit, Central 1139/516, Venu Apts, Vs Circle-2(2), Pune. Off F C Road, Shivajinagar, Pune – 411016. Pan: Abipp 3973 A Appellant/ Assessee Respondent /Revenue Assessee By Shri Suhas P Bora – Ar Revenue By Shri S P Walimbe– Dr Date Of Hearing 28/06/2022 Date Of Pronouncement 30/06/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-12, Pune For The Assessment Year 2015-16, Dated 23.09.2019. 2. The Facts Emanating From The Assessment Order & Penalty Order Are That The Assessee Is An Individual Deriving Income From Business. He Is A Partner In Various Firms, Earning Share Of Profit, Interest On Capital & Remuneration From Partnership Firms. It Is Pertinent To Note That All The Firms Wherein The Assessee Is A Partner, Are All Engaged In The Business Of Land Development & Building Construction. The Assessee Filed His Return Of Income For Assessment

Section 2(14)Section 271Section 271(1)(c)

Capital gain and also initiated penalty for concealment of income. The AO also made addition of undisclosed interest. The assessee has not preferred any appeal against the quantum of addition. The AO levied the Penalty u/s 271(1)(c) of the Act. 3. The Assessing Officer has mentioned in his order under section

SUNIL DAMODHAR BODKE,,NASHIK vs. INCOME-TAX OFFICER,,

In the result, the appeal of assessee is allowed

ITA 1368/PUN/2015[2005-06]Status: DisposedITAT Pune15 May 2018AY 2005-06

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1368 & 1369/Pun/2015 यििाारण वषा / Assessment Years : 2005-06 & 2007-08 Late Shri Sunil Damodhar Bodke, Through L/H Smt. Shalini Sunil Bodke, Damodhar Niwas, Sai Nagar, अऩीऱाथी/Appellant Pune Road, Nashik – 422011 …. Pan: Abcpb5545L Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 1 (1), Nashik

For Appellant: Shri Sanket Joshi
Section 148Section 271(1)(c)Section 50C

capital gains of Rs.5,94,393/- were offered by the assessee by considering the sale consideration at Rs.50,98,500/- as per the provisions of section 50C as against the actual sale consideration of Rs.48,64,000/- received as per the registered sale deed and hence, no penalty u/s 271

SUNIL DAMODHAR BODKE,,NASHIK vs. INCOME-TAX OFFICER,,

In the result, the appeal of assessee is allowed

ITA 1369/PUN/2015[2007-08]Status: DisposedITAT Pune15 May 2018AY 2007-08

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1368 & 1369/Pun/2015 यििाारण वषा / Assessment Years : 2005-06 & 2007-08 Late Shri Sunil Damodhar Bodke, Through L/H Smt. Shalini Sunil Bodke, Damodhar Niwas, Sai Nagar, अऩीऱाथी/Appellant Pune Road, Nashik – 422011 …. Pan: Abcpb5545L Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 1 (1), Nashik

For Appellant: Shri Sanket Joshi
Section 148Section 271(1)(c)Section 50C

capital gains of Rs.5,94,393/- were offered by the assessee by considering the sale consideration at Rs.50,98,500/- as per the provisions of section 50C as against the actual sale consideration of Rs.48,64,000/- received as per the registered sale deed and hence, no penalty u/s 271

RAJENDRA L.AGARWAL,,PUNE vs. INCOME-TAX OFFICER, (INTERNATIONAL TAXATION -I),, PUNE

ITA 2330/PUN/2017[2012-13]Status: DisposedITAT Pune31 Aug 2018AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No. 2330/Pun/2017 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2012-13 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"

For Appellant: Shri Sunil PathakFor Respondent: Shri Rajeev Kumar &
Section 54F

section 54F of the Act for the following reasons: A. Referring to the legal expenditure of Rs.2,68,500/-, Ld. Counsel for the assessee submitted that the said amount was paid for (i) title search (ii) property consultancy (iii) legal consultancy. All these were incurred in connection with the investment of capital gains in the residential bungalow located at Sindh

MUKUND BAJIRAO KOTE (HUF),,AHMEDNAGAR vs. INCOME-TAX OFFFICER,,

In the result, the appeal of assessee is allowed

ITA 81/PUN/2016[2008-09]Status: DisposedITAT Pune27 Apr 2018AY 2008-09

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.81/Pun/2016 यििाारण वषा / Assessment Year : 2008-09 Mukund Bajirao Kote (Huf), Pimpalwadi Road, Shirdi, अऩीऱाथी/Appellant Dist - Ahmednagar …. Pan: Aakhm3668L Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward – 1, Ahmednagar

For Appellant: Shri Kishore PhadkeFor Respondent: Shri Achal Sharma
Section 142(1)Section 143(2)Section 144Section 147Section 148Section 2(14)Section 271(1)(b)

capital gains on sale of land in the hands of assessee. 5. The Assessing Officer meanwhile initiated penalty proceedings under section 271