77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd. v. CIT

101 ITR 40High Court1975#5162 most cited

What is 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd. v. CIT authority for?

The Assessing Officer has the discretion to select an accounting method and the assessee cannot compel the department to adopt a particular method.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2025.

Also referred to as

MKB Asia Pvt. Ltd. v. CIT · Investment Ltd vs. CIT · section 145 · accounting method · AO discretion · assessee choice

Sections most often in play

Section 142(1)Section 143(2)Section 143(3)Section 145Section 36(1)(iv)Section 37Section 37(1)Section 43(3)

Issues it is cited on

section 3asection 120(4)(b)section 4asection 36(1)(v)section 10(20)section 61section 46section 40a(7)section 36(1)(iv)section 142(2)section 124section 45

Judgments citing 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd. v. CIT

M/S. Gl Litmus Events Pvt. Ltd., New Delhi vs. ACIT, New Delhi

Appeal of the assessee is partly allowed

ITA 2502/DEL/2015[2011-12]Status: DisposedITAT Delhi01 Jul 2019AY 2011-12

Bench: Shri Prashant Maharishi & Shri K. N. Charygl Litmus Events Pvt. Ltd, The Assistant Commissioner Vs. B-90, Second Floor, Of Income Tax Vishwakarma Colony, New Delhi Central Circle-7, New Delhi Pan: Aadcg6909N (Appellant) (Respondent)

For Appellant: Shri S. K. Tulsiyan, AdvFor Respondent: Shri Sanjay I Bara, CIT DR
Section 143Section 144CSection 153ASection 292CSection 37Section 69Section 92C

…ularly, it cannot be discarded by the departmental authorities on the view that he should have adopted a different method of keeping of accounts. He also relied upon the decision of the honourable allowable High Court in case of Juggilal Kamlapat Banker V CIT 101 ITR 40 and honourable Bombay High Court in case of CIT vs. Mrs. Vimla D Sonwane 75 taxmann 335. Supporting the case of the assessee, that assessee is following the cash method of accounting regularly stated that this was the 1st year of its commercial operation and the appellant has followed the cash basis of accounting for the said year and for the year…

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…016 and 914/Del/2016 (AY 2011-12) Page 47 of 484 regularly followed by the appellant and accepted by the Department. Reliance in this regard is placed on: i. UCO Bank v. CIT: 240 ITR 355 (SC) ii. CIT v. Singaribai: 13 ITR 224 (All.)(FB) iii. Juggilal v. CIT: 101 ITR 40 (All.) iv. CIT v. TISCO: 106 IR 363 (Bom.) v. CIT v. Sankarapandia: 130 ITR 541 (Mad.) vi. Balapur Mandali v. CIT: 135 ITR 91 (Guj.) He further stated that In any case, considering that the appellant is a high tax paying company, subjected to uniform rate of tax, no adjustment is even otherwise called for in view of the following: a. If the clos…