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

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Key Topics

Section 143(3)11Survey u/s 133A6Section 2635Capital Gains5Long Term Capital Gains5Penny Stock5Revision u/s 2635

ANJU JHUNJHUNWALA,VARANASI vs. PCIT, VARANASI

In the result, appeal of the assessee is allowed

ITA 198/VNS/2019[2015-2016]Status: DisposedITAT Varanasi07 Dec 2023AY 2015-2016
Section 143(3)Section 263

bogus long term capital gain. Like in the earlier orders, ld. PCIT has not specified as to what further enquiry should be done and what should be the nature of enquiry. At least, ld. PCIT himself should have asked the AO to carry out specific enquiries. Thus, we hold that there was no failure on part

SARVESH KUMAR AGARWAL HUF,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

ITA 252/VNS/2019[2015-2016]Status: DisposedITAT Varanasi07 Dec 2023AY 2015-2016
Section 143(3)
Section 263

bogus long term capital gain. Like in the earlier orders, ld. PCIT has not specified as to what further enquiry should be done and what should be the nature of enquiry. At least, ld. PCIT himself should have asked the AO to carry out specific enquiries. Thus, we hold that there was no failure on part

VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

ITA 85/VNS/2019[2014-2015]Status: DisposedITAT Varanasi07 Dec 2023AY 2014-2015
Section 143(3)Section 263

bogus long term capital gain. Like in the earlier orders, ld. PCIT has not specified as to what further enquiry should be done and what should be the nature of enquiry. At least, ld. PCIT himself should have asked the AO to carry out specific enquiries. Thus, we hold that there was no failure on part

GOPI KRISHNA VINOD KUMAR HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

ITA 111/VNS/2020[2015-2016]Status: DisposedITAT Varanasi07 Dec 2023AY 2015-2016
Section 143(3)Section 263

bogus long term capital gain. Like in the earlier orders, ld. PCIT has not specified as to what further enquiry should be done and what should be the nature of enquiry. At least, ld. PCIT himself should have asked the AO to carry out specific enquiries. Thus, we hold that there was no failure on part

VINOD KUMAR SARAF HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

ITA 112/VNS/2020[2015-2016]Status: DisposedITAT Varanasi07 Dec 2023AY 2015-2016
Section 143(3)Section 263

bogus long term capital gain. Like in the earlier orders, ld. PCIT has not specified as to what further enquiry should be done and what should be the nature of enquiry. At least, ld. PCIT himself should have asked the AO to carry out specific enquiries. Thus, we hold that there was no failure on part

DY. COMMISSIONER OF INCOME TAX, CIRCLE - 01,, VARANASI vs. M/S RATANDEEP GOLD & DIAMOND PVT. LTD., CHANDAULI

ITA 136/VNS/2020[2017-2018]Status: DisposedITAT Varanasi03 Feb 2023AY 2017-2018

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2017-18 The Deputy Commissioner M/S Ratandeep Gold & Diamond Of Income Tax, V. Pvt. Ltd. Circle-1, M A Road, 19, New Mohal, Varanasi-211001, U.P. Near Balika Inter College, Mugalsarai, Chandauli- 232101, U.P. Pan:Aahcr4764Q (Appellant) (Respondent) C.O. No. 02/Vns/2021 (Arising Out Of Ita No. 136/Vns/2020) Assessment Year: 2017-18 M/S Ratandeep Gold & The Deputy Commissioner Of Diamond Pvt. Ltd. V. Income Tax,Circle-1, M.A. Road 19, New Mohal, Varanasi-211001, U.P. Near Balika Inter College, Mugalsarai, Chandauli- 232101, U.P.

For Appellant: Shri Shishir Bajpai, CAFor Respondent: Shri Amalendu Nath Mishra, CIT DR
Section 143(3)Section 69A

carried out by Revenue under Section 133A of the Act, it is claimed by Revenue that several documents and retrieved of computer data backup etc. which were incriminating in nature as per annexures to the Survey Report drawn, were found and impounded by Revenue . The assessee filed its return of income for ay: 2017-18 ,on 7th November, 2017,returning