1 Indramani Bai & Another v. Addl.ClT (SC)

200 ITR 594Supreme Court of India1993#5216 most cited

What is 1 Indramani Bai & Another v. Addl.ClT (SC) authority for?

Acquiring land with the intention of selling it after development constitutes a business venture, resulting in profit that is taxable as business income. This is because the activity is undertaken with a view to profit and can only be described as a business venture.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2024.

Also referred to as

Indramani Bai & Another v. Addl. CIT · business venture · adventure in the nature of trade · taxable as business income · profit from development and sale of land · income-tax act

Sections most often in play

Section 143(3)Section 144BSection 147Section 151Section 263

Judgments citing 1 Indramani Bai & Another v. Addl.ClT (SC)

DCIT, Tambaram vs. Shridi Estates, Chennai

In the result, all the appeals of the Revenue and cross- objections of the assessee stand dismissed

ITA 1803/CHNY/2015[2009-10]Status: DisposedITAT Chennai18 Dec 2015AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1802 & 1803/Mds/2015 & C.O. Nos.114 & 115/Mds/2015 (In I.T.A. Nos.1802 & 1803/Mds/2015) "नधा"रण वष" / Assessment Years : 2008-09 & 2009-10

For Appellant: Sh. P. Radhakrishnan, JCIT
Section 148

…आयकर अपील"य अ"धकरण, ‘बी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.1802 & 1803/Mds/2015 & C.O. Nos.114 & 115/Mds/2015 (in I.T.A. Nos.1802 & 1803/Mds/2015) "नधा"रण वष" / Assessment Years : 2008-09 & 2009-10 The Deputy Commissioner of M/s Shirdi Estates, Income Tax, v. New No.32, Old No.28, Non Corporate Circle – 22, Ramachandra Road, No.7, Ramakrishna Street, Nehru Nagar, Chromepet, West Tambaram,…

DCIT, Tambaram vs. Shridi Estates, Chennai

In the result, all the appeals of the Revenue and cross- objections of the assessee stand dismissed

ITA 1802/CHNY/2015[2008-09]Status: DisposedITAT Chennai18 Dec 2015AY 2008-09

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1802 & 1803/Mds/2015 & C.O. Nos.114 & 115/Mds/2015 (In I.T.A. Nos.1802 & 1803/Mds/2015) "नधा"रण वष" / Assessment Years : 2008-09 & 2009-10

For Appellant: Sh. P. Radhakrishnan, JCIT
Section 148

…आयकर अपील"य अ"धकरण, ‘बी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.1802 & 1803/Mds/2015 & C.O. Nos.114 & 115/Mds/2015 (in I.T.A. Nos.1802 & 1803/Mds/2015) "नधा"रण वष" / Assessment Years : 2008-09 & 2009-10 The Deputy Commissioner of M/s Shirdi Estates, Income Tax, v. New No.32, Old No.28, Non Corporate Circle – 22, Ramachandra Road, No.7, Ramakrishna Street, Nehru Nagar, Chromepet, West Tambaram,…