37 In Dr. S. Surendranath Reddy v. ACIT

72 ITD 205Income Tax Appellate Tribunal2000#9870 most cited

What is 37 In Dr. S. Surendranath Reddy v. ACIT authority for?

Undisclosed income cannot be determined on an estimation basis; it can only be determined to the extent of material seized during a search. Estimating suppression requires substance available for the specific assessment year.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2016 to 2024.

Also referred to as

Dr. S. Surendranath Reddy · undisclosed income · estimation basis · material seized · search assessment · ITAT Hyderabad · suppression · assessment year

Judgments citing 37 In Dr. S. Surendranath Reddy v. ACIT

ACIT, CC-3, Ludhiana, Opp. Bvm School, Kitchlu Nagar vs. Gurdip Cycle Industries, Link Road

In the result, both the appeals are partly allowed

ITA 753/CHANDI/2023[2021-22]Status: DisposedITAT Chandigarh23 Jul 2024AY 2021-22

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 705/Chd/2023 "नधा"रण वष" / Assessment Year: 2021-22

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Rohit Sharma CIT DR

Section 132Section 145(3)

…n in the post search period and the addition could not be made that the assessee had made unaccounted transactions throughout the unaccounted period. Same view was held by the Hyderabad Bench of the ITAT in the case of ‘Dr. S. Surendra Nath Reddy’ reported in 72 ITD 205, in which, it has been held that the undisclosed income could not be determined on estimation basis and it could only be determined only to the extent of material seized at the time of search. Same was held by the ITAT Pune Bench 'Third Member' case in ‘Samrat Bear Bar vs. ACIT’ reported in 251 ITR (AT) 1 Pune. Similar reliance was placed by the L…

Gurdip Cycle Industries 536 3 Station Road, Near Dhandari Railway Station, Dhandari Kalan Ludhiana, Punjab vs. The Deputy Commissioner of Income Tax Central Circle-3 Ludhiana, Punjab

In the result, both the appeals are partly allowed

ITA 705/CHANDI/2023[2021-2022]Status: DisposedITAT Chandigarh23 Jul 2024AY 2021-2022

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 705/Chd/2023 "नधा"रण वष" / Assessment Year: 2021-22

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Rohit Sharma CIT DR

Section 132Section 145(3)

…n in the post search period and the addition could not be made that the assessee had made unaccounted transactions throughout the unaccounted period. Same view was held by the Hyderabad Bench of the ITAT in the case of ‘Dr. S. Surendra Nath Reddy’ reported in 72 ITD 205, in which, it has been held that the undisclosed income could not be determined on estimation basis and it could only be determined only to the extent of material seized at the time of search. Same was held by the ITAT Pune Bench 'Third Member' case in ‘Samrat Bear Bar vs. ACIT’ reported in 251 ITR (AT) 1 Pune. Similar reliance was placed by the L…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

ITA 132/BIL/2011[2007-08]Status: DisposedITAT Raipur10 Jan 2018AY 2007-08

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

For Appellant: NoneFor Respondent: Shri R.K.Singh, CITDR

…stimate is not lightly made in every case of assessment framed as a result of search except on a clear finding giving justification for the same with reference to the material found during search or thereafter. 1.37 In Dr. S. Surendranath Reddy v. ACIT (2000) 72 ITD 205 (Hyd.) it was held that it is the settled position of law that in order to determine the undisclosed income/investment of a previous year falling within the block period, there should be corresponding 13 ITA Nos.126-132/BLPR/2011 matching material available for that previous year. This matching principle is very important for determination of und…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

ITA 131/BIL/2011[2006-07]Status: DisposedITAT Raipur10 Jan 2018AY 2006-07

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

For Appellant: NoneFor Respondent: Shri R.K.Singh, CITDR

…stimate is not lightly made in every case of assessment framed as a result of search except on a clear finding giving justification for the same with reference to the material found during search or thereafter. 1.37 In Dr. S. Surendranath Reddy v. ACIT (2000) 72 ITD 205 (Hyd.) it was held that it is the settled position of law that in order to determine the undisclosed income/investment of a previous year falling within the block period, there should be corresponding 13 ITA Nos.126-132/BLPR/2011 matching material available for that previous year. This matching principle is very important for determination of und…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

ITA 130/BIL/2011[2005-06]Status: DisposedITAT Raipur10 Jan 2018AY 2005-06

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

For Appellant: NoneFor Respondent: Shri R.K.Singh, CITDR

…stimate is not lightly made in every case of assessment framed as a result of search except on a clear finding giving justification for the same with reference to the material found during search or thereafter. 1.37 In Dr. S. Surendranath Reddy v. ACIT (2000) 72 ITD 205 (Hyd.) it was held that it is the settled position of law that in order to determine the undisclosed income/investment of a previous year falling within the block period, there should be corresponding 13 ITA Nos.126-132/BLPR/2011 matching material available for that previous year. This matching principle is very important for determination of und…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

ITA 128/BIL/2011[2003-04]Status: DisposedITAT Raipur10 Jan 2018AY 2003-04

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

For Appellant: NoneFor Respondent: Shri R.K.Singh, CITDR

…stimate is not lightly made in every case of assessment framed as a result of search except on a clear finding giving justification for the same with reference to the material found during search or thereafter. 1.37 In Dr. S. Surendranath Reddy v. ACIT (2000) 72 ITD 205 (Hyd.) it was held that it is the settled position of law that in order to determine the undisclosed income/investment of a previous year falling within the block period, there should be corresponding 13 ITA Nos.126-132/BLPR/2011 matching material available for that previous year. This matching principle is very important for determination of und…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

ITA 127/BIL/2011[2002-03]Status: DisposedITAT Raipur10 Jan 2018AY 2002-03

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

For Appellant: NoneFor Respondent: Shri R.K.Singh, CITDR

…stimate is not lightly made in every case of assessment framed as a result of search except on a clear finding giving justification for the same with reference to the material found during search or thereafter. 1.37 In Dr. S. Surendranath Reddy v. ACIT (2000) 72 ITD 205 (Hyd.) it was held that it is the settled position of law that in order to determine the undisclosed income/investment of a previous year falling within the block period, there should be corresponding 13 ITA Nos.126-132/BLPR/2011 matching material available for that previous year. This matching principle is very important for determination of und…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

ITA 126/BIL/2011[2001-02]Status: DisposedITAT Raipur10 Jan 2018AY 2001-02

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

For Appellant: NoneFor Respondent: Shri R.K.Singh, CITDR

…stimate is not lightly made in every case of assessment framed as a result of search except on a clear finding giving justification for the same with reference to the material found during search or thereafter. 1.37 In Dr. S. Surendranath Reddy v. ACIT (2000) 72 ITD 205 (Hyd.) it was held that it is the settled position of law that in order to determine the undisclosed income/investment of a previous year falling within the block period, there should be corresponding 13 ITA Nos.126-132/BLPR/2011 matching material available for that previous year. This matching principle is very important for determination of und…

Green Valley Home Developers P. Ltd, Navi Mumbai vs. ACIT (CC) 13, Mumbai

In the result, appeals of the Revenue are dismissed whereas appeals of the assessee are allowed in part in terms indicated hereinabove

ITA 5066/MUM/2009[2007-08]Status: DisposedITAT Mumbai14 Jun 2017AY 2007-08

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm

Section 133ASection 143(3)

…pertain to the AY 200S-07. In this connection, apart from the cited decision in the case of Royal Marwar(supra), reference could be made ITA No.5011 & 5112/2009 M/s. Green Valley Homes Development Pvt. Ltd., to the case of Dr. Surendranath Reddy vs ACIT(2000) 72 ITD 205(Hyd), in which it was observed that when no materials were found to for some other assessment year, it would not be proper for the AO to estimate any suppression. For estimating the suppression, there should be some substance available or each assessment year independenclly. The principle of unit of assessment year is not diluted in block assessme…

ACIT, New Delhi vs. M/S Rama Krishna Jeweller (India), New Delhi

In the result, we confirm the finding of ld

ITA 5417/DEL/2010[2005-06]Status: DisposedITAT Delhi11 May 2016AY 2005-06

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Mrs. Nandita Kanchan, CIT DR

…ion of sales, he submitted that when evidences are available for only 191 days it cannot be extrapolated for 300 days as done by the ld. AO. For this he referred to several decisions of various tribunals and High Courts as 75 ITD 19 (Pune), 70 STD 77 (Patna), 72 ITD 205 (Hyd) 97 TTJ .. (JP), 199 ITR 247 (All HC), 144 ITR 270 (All HC). 16. Regarding remand report he submitted that during the course of hearing before the ld.CIT (A) ld. AO was asked to submit remand report with respect to additional evidence filed as well as the written submission of the assessee. In response to this ld. AO submitted his remand repo…

Prakash Fatandas Jassuja, Thane vs. ITO WD 3(2), Thane

The appeals of the assessee are partly allowed

ITA 4933/MUM/2015[2005-06]Status: DisposedITAT Mumbai20 Jan 2016AY 2005-06

Bench: Shri Joginder Singh

Section 133ASection 147

…position, the ratio laid down in following cases supports my view:- a. Samrat Bear Bar vs ACIT (2000) 75 ITD 19 (Pune)(TM) b. D. N. Kamani (HUF) vs DCIT (1999) 70 ITD 77 (TM)(Pat) c. CIT vs Mahesh Chand 199 ITR 247 (All.) d. Dr. S. S. Reddy vs ACIT (2000) 72 ITD 205 (Hyd) 6. So far as, the contention of the ld. counsel for the assessee, that net profit rate should be adopted and not the gross profit is concerned, I am not agreeing with this proposition, because, in the present set off cases, the assessee has not declared anything and the whole profit was earned as the purchase and sales were not even entered…