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25 results for “section 68”+ Section 270A(8)clear

Sorted by relevance

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Key Topics

Section 26332Section 14712Section 10(38)8Addition to Income7Section 271A6Section 2505Section 143(3)4Section 1484Section 133A4Survey u/s 133A

GHANSHYAMBHAI MOHANBHAI PATEL,AT PO UMARDA vs. INCOME TAX OFFICER WARD 4 SURENDRANAGAR, INCOME TAX OFFICE IRISH BUILDING

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

ITA 382/RJT/2025[2017-18]Status: DisposedITAT Rajkot29 Aug 2025AY 2017-18

Bench: Dr. Arjun Lal Saini, Am. & Dinesh Mohan Sinha, Jm आयकर अपील सं./Ita No. 382/Rjt/2025 ("नधा"रण वष" / Assessment Year: (N.A.) (Hybrid Hearing) Ghanshyambhai Mohanbhai Patel Income Tax Officer, Ward-4, Surendranagar, Income Tax Near Swaminarayan Mandir, At Umarda, Vs. Office, Irish Building, Opp. Mela Ta.Muli, Dist. Surendranagar-363 510 Medan, Surendranagar-363 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Brjpp 6166 K (Appellant) (Respondent)

For Appellant: Shri Pinal Raval, Ld. ARFor Respondent: Shri Abhimunyu Singh Yadav, Sr.D.R
Section 142(1)Section 144Section 250Section 69A

270A may be dropped. • The interest levied under Sections 234A and 234B may be recomputed based on th revised income. • Relief may kindly be granted in the interest of equity, justice, and fair play. • Set aside the appellate order dated 17/12/2024 passed by CIT(A), Ahmedabad-7. • Delete the additions made u/s 69A and u/s 44AD amounting

Showing 1–20 of 25 · Page 1 of 2

4
Penny Stock4
Cash Deposit2

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, RAJKOT-GUJARAT vs. M/S. CLASSIC NETWORK LIMITED,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 275/RJT/2022[2019-20]Status: DisposedITAT Rajkot30 Jan 2026AY 2019-20

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, RAJKOT-GUJARAT vs. M/S. CLASSIC NETWORK LIMITED,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 274/RJT/2022[2018-19]Status: DisposedITAT Rajkot30 Jan 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 3/RJT/2021[2017-18]Status: DisposedITAT Rajkot30 Jan 2026AY 2017-18

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAJKOT vs. CLASSIC NETWORK PVT. LTD., RJAKOT

In the result, appeal filed by the assessee in ITA No

ITA 286/RJT/2024[2014-15]Status: DisposedITAT Rajkot30 Jan 2026AY 2014-15

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 291/RJT/2022[2019-20]Status: DisposedITAT Rajkot30 Jan 2026AY 2019-20

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJKOT-GUJARAT vs. M/S. CLASSIC NETWORK LIMITED,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 13/RJT/2021[2017-18]Status: DisposedITAT Rajkot30 Jan 2026AY 2017-18

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

CLASSIC NETWORK PRIVATE LIMITED,RAJKOT vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL - 1, RAJKOT, RAJKOT

In the result, appeal filed by the assessee in ITA No

ITA 177/RJT/2024[2016-17]Status: DisposedITAT Rajkot30 Jan 2026AY 2016-17

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

CLASSIC NETWORK PRIVATE LIMITED,RAJKOT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL -1 RAJKOT, RAJKOT

In the result, appeal filed by the assessee in ITA No

ITA 176/RJT/2024[2014-15]Status: DisposedITAT Rajkot30 Jan 2026AY 2014-15

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAJKOT, RAJKOT vs. CLASSIC NETWORK PVT. LTD., RAJKOT

In the result, appeal filed by the assessee in ITA No

ITA 287/RJT/2024[2016-17]Status: DisposedITAT Rajkot30 Jan 2026AY 2016-17

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

CLASSIC NETWORK PRIVATE LIMITED,RAJKOT vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL -1, RAJKOT, RAJKOT

In the result, appeal filed by the assessee in ITA No

ITA 178/RJT/2024[2017-18]Status: DisposedITAT Rajkot30 Jan 2026AY 2017-18

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 289/RJT/2022[2015-16]Status: DisposedITAT Rajkot30 Jan 2026AY 2015-16

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 288/RJT/2022[2013-14]Status: DisposedITAT Rajkot30 Jan 2026AY 2013-14

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

M/S. CLASSIC NETWORK LIMITED,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 290/RJT/2022[2018-19]Status: DisposedITAT Rajkot30 Jan 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT vs. M/S. CLASSIC NETWORK LIMITED,, RAJKOT-GUJARAT

In the result, appeal filed by the assessee in ITA No

ITA 273/RJT/2022[2015-16]Status: DisposedITAT Rajkot30 Jan 2026AY 2015-16

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

68,97,74,915/- and G.P. Page 39 of44 ITA No. 286 to 298, 177 & 178/Rjt/2022 & 2024 Classic Network Pvt. Ltd. (Group Case) rate of 8% is applied on suppressed sales to estimate the income element and 8% of bogus purchase of Rs. 6,22,25,000/-. (ii) The estimation of suppressed sales done by the CIT(Appeals) by extrapolating

ATMAN RAJNIKANT BHESDADIYA L/R. LATE SHRI RAJNIKANT LAVJIBHAI BHEDADIYA,RAJKOT vs. THE DCIT, CENTRAL CIRCLE-1, RAJKOT, RAJKOT

In the result, appeal of the assessee in ITA No

ITA 112/RJT/2023[2017-18]Status: DisposedITAT Rajkot20 Dec 2023AY 2017-18

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 132Section 271ASection 274Section 68

68 of the Act. 8.1. For adjudicating the levy of penalty is correct in law or otherwise, Section 271AAB is reproduced as follows: Penalty where search has been initiated. 271AAB. (1) The Assessing Officer may, notwithstanding anything contained in any other provisions of this Act, direct that, in a case where search has been initiated under section

JAYESH KHIMJI KHIMASIYA HUF,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

ITA 6/RJT/2024[2012-13]Status: DisposedITAT Rajkot09 Sept 2025AY 2012-13

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

Section 10(38)Section 147Section 263

68 in respect of share sale receipts from a penny stock treating the same as Income from Other Sources and thereby rejecting assessee's claim of LTCG. Tribunal observed that the assessee had made huge gain due to price increase, in comparison to purchase price, but the increase in price is not commensurate to the financials of the company. VIII.Ld

BHANUBEN MANSUKHLAL KHIMASIYA,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

ITA 5/RJT/2024[2012-13]Status: DisposedITAT Rajkot09 Sept 2025AY 2012-13

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

Section 10(38)Section 147Section 263

68 in respect of share sale receipts from a penny stock treating the same as Income from Other Sources and thereby rejecting assessee's claim of LTCG. Tribunal observed that the assessee had made huge gain due to price increase, in comparison to purchase price, but the increase in price is not commensurate to the financials of the company. VIII.Ld

MANSUKHLAL KHIMJI KHIMASIYA,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

ITA 4/RJT/2024[2013-14]Status: DisposedITAT Rajkot09 Sept 2025AY 2013-14

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

Section 10(38)Section 147Section 263

68 in respect of share sale receipts from a penny stock treating the same as Income from Other Sources and thereby rejecting assessee's claim of LTCG. Tribunal observed that the assessee had made huge gain due to price increase, in comparison to purchase price, but the increase in price is not commensurate to the financials of the company. VIII.Ld

MANSUKHLAL KHIMJI KHIMASIYA HUF,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

ITA 3/RJT/2024[2012-13]Status: DisposedITAT Rajkot09 Sept 2025AY 2012-13

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

Section 10(38)Section 147Section 263

68 in respect of share sale receipts from a penny stock treating the same as Income from Other Sources and thereby rejecting assessee's claim of LTCG. Tribunal observed that the assessee had made huge gain due to price increase, in comparison to purchase price, but the increase in price is not commensurate to the financials of the company. VIII.Ld