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6 results for “bogus purchases”+ Section 17(2)(iii)clear

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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 gains and the investigation report by the Investigation wing highlighting the complete modus operandi about how these accommodation entries were provided including the name of the scrips including M/s. Rander Corporation used for the manipulations. He has firstly, referred to the statement of Shri Amar Chandra Rander, who was the promoter and director of M/s. Rander

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 gains and the investigation report by the Investigation wing highlighting the complete modus operandi about how these accommodation entries were provided including the name of the scrips including M/s. Rander Corporation used for the manipulations. He has firstly, referred to the statement of Shri Amar Chandra Rander, who was the promoter and director of M/s. Rander

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 gains and the investigation report by the Investigation wing highlighting the complete modus operandi about how these accommodation entries were provided including the name of the scrips including M/s. Rander Corporation used for the manipulations. He has firstly, referred to the statement of Shri Amar Chandra Rander, who was the promoter and director of M/s. Rander

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 gains and the investigation report by the Investigation wing highlighting the complete modus operandi about how these accommodation entries were provided including the name of the scrips including M/s. Rander Corporation used for the manipulations. He has firstly, referred to the statement of Shri Amar Chandra Rander, who was the promoter and director of M/s. Rander

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 gains and the investigation report by the Investigation wing highlighting the complete modus operandi about how these accommodation entries were provided including the name of the scrips including M/s. Rander Corporation used for the manipulations. He has firstly, referred to the statement of Shri Amar Chandra Rander, who was the promoter and director of M/s. Rander

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

III v. Krutika Land Private (2019)261 Taxman 454(SC) e) Dismissal of SLP by Hon’ble Supreme Court in the case of PCIT v. B G Shrike Construction Technology Private Limited (2019) 265 taxman 543(SC) The Ld. Counsel for the assessee submitted that the Department has no evidence of the assessee investing Rs. 60 lacs in the furniture