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3 results for “bogus purchases”+ Carry Forward of Lossesclear

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Key Topics

Section 2637Section 153A7Section 143(3)2Addition to Income2Set Off of Losses2

DCIT CIR-3(1), JAMSHEDPUR vs. M/S YASH INFRATECH PRIVATE LIMITED , JAMSHEDPUR

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

ITA 155/RAN/2017[14-15]Status: DisposedITAT Ranchi09 Nov 2022

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 131Section 143(2)Section 143(3)Section 250

carried out investigations about the role of the brokers in this entire process and it was found that when the prices are manipulated to increase, beneficiaries are provided the short term/long term capital gain accommodation entry and when the prices decrease then at that time those people who require bogus Short Term Capital Loss to evade taxes by setting such

RASHMI SINGHANIA,KOLKATA vs. ITO, WARD-2(4), JAMSHEDPUR

In the result, the appeal of the assessee stands allowed

ITA 208/RAN/2019[2014-15]Status: DisposedITAT Ranchi30 Apr 2021AY 2014-15

Bench: Sri Sanjay Gargi.T.A. No.208/Ran/2019 Assessment Year: 2014-15 Rashmi Singhania.…....……………… … ...........…………………………Appellant C/O. S. Singhania & Co. 7Th Floor, Room No.3, 2, Ganesh Chandra Avenue, Kolkata-700013. [Pan: Aswps1056N] Vs. Ito, Ward-2(4), Jamshedpur...........……………………...………..…..Respondent Appearances By: Shri R. K. Singhania, Advocate,Appeared On Behalf Of The Appellant. Smt. Chinmaya Aurangabadkar, Jcit, Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing :March 24, 2021 Date Of Pronouncing The Order : April 30, 2021 Order The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 01.02.2019 Of The Commissioner Of Income Tax (Appeals), Jamshedpur [Hereinafter As ‘Cit(A)’]. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

Section 10(38)Section 69A

carry forward of net CapitalLoss amounts to Rs. 3,42,499 which has been shown in the return filed. 7. That the appellant craves leave to add, alter or delete all or any of the grounds of appeal.” 2. The sole issue raised through the above grounds of appeal isregarding the validity of addition of Rs.17,72,000/- added into

PADAM KUMAE JAIN,RANCHI vs. CIT, CENTRAL, PATNA

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

ITA 289/RAN/2019[2012-13]Status: DisposedITAT Ranchi08 Jul 2020AY 2012-13

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am आयकरअपीलसं./Ita No.289/Ran/2019 (िनधा"रणवष" / Assessment Year: 2012-13) Padam Kumar Jain Vs. Cit, Central, Cr Building, Beer Chand Patel Marg, Patna – 800001. Ratanlalsurajmal Compound, Main Road, Ranchi – 834001, Jharkhand "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abrpj 0001 E (Assessee) .. (Revenue)

For Appellant: Shri M.K. Chaudhury & Shri Devesh Poddar, AdvocateFor Respondent: Shri Inderjeet Singh, CIT (DR)
Section 132(4)Section 143(3)Section 153ASection 263

bogus expenses in form of incentive of sales given to aforesaid buyers in order to evade taxes. You are requested to show cause as to why expenses claimed under the head incentive on sales totaling amounting to Rs. 9,45,96,300/- should not be disallowed and added to the total income for the year under consideration. 2. On examination