What is Asian Paints ltd. v. DCIT authority for?

Income cannot be taxed if no real income has resulted, even if bookkeeping entries suggest otherwise. A tax liability cannot be attracted merely by following book-keeping methods if no actual income has been earned.

How many judgments cite Asian Paints ltd. v. DCIT?

31 judgments on BharatTax cite Asian Paints ltd. v. DCIT (225 ITR 447), spanning 2016 to 2026.

Which sections of the Income Tax Act does Asian Paints ltd. v. DCIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 147, Section 14A, Section 37(1), Section 80IA(4), Section 92CA.

Asian Paints ltd. v. DCIT (225 ITR 447)

JAGDISHPRASAD MAHESHWARI,NAGPUR vs. DCIT/ACIT CIRCLE-4, NAGPUR

In the result, appeal of the assessee is allowed

ITA 748/NAG/2025[2013-14]Status: DisposedITAT Nagpur17 Apr 2026AY 2013-14

Bench: Dr.Manish Boradआयकर अपील सं. / Ita No.748/Nag/2025 Assessment Year : 2013-14 Jagdishprasad Maheshwari Vs. Dcit/Acit, Circle-4, C/O Surgical India, Nagpur Shop No. 214,215,224,225, Sandesh Dawa Bazar, Near Haj House, Ganjipeth, Nagpur-440018, Maharashtra Pan: Acypm9289M Appellant Respondent

For Appellant: Shri Mahavir AtalFor Respondent: Shri Surjit Kumar Saha

Section 143(1)(a)Section 143(2)Section 143(3)Section 147Section 148

…onsider and deal with a similar issue of reopening of assessment which was examined in light of jurisdictional requirements and settled legal position. In this context the court re-visited the judgments rendered in Andhra Bank Ltd. v. CIT [1997] 92 Taxman 534/225 ITR 447 (SC); Siemens Information System Ltd. v. Asstt. CIT [2008] 168 Taxman 209/[2007] 295 ITR 333 (Bombay)/2007 SCC OnLine Bom 1292; NYK Line (India) Ltd. v. Dy. CIT [2012] 28 taxmann.com 229/211 Taxman 185 (Mag.)/346 ITR 361 (Bombay)/2012 SCC OnLine Bom 195; ITO v. TechSpan India (P.) Ltd (2018) 92 taxmann.com 361/255 Taxman 152/404 ITR 10 (SC)/(2018…

MAHARASHTRA STATE ELECTRICITY TRANSMISSION COMPANY LIMITED,MUMBAI vs. ITO CIRCLE 14(1)(1), MUMBAI

ITA 2552/MUM/2025[2016-17]Status: DisposedITAT Mumbai06 Feb 2026AY 2016-17

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Madhao VichoreFor Respondent: Shri Solgy Jose

Section 143(3)Section 14A

…Court 1990-53 Taxman536 to the similar effect. 7. On the facts and circumstances of the case and law, the CIT(A) erred in not properly applying the law laid by the Apex Court in CIT vs. Godhra Electricity Co. 225 ITR 746 SC and Andhra Bank case as reported in 225 ITR 447.SC which held that if income by following book keeping methods, the liability to tax cannot be attracted. 8. On the facts and circumstances of the case and law, the Learned CIT(A) erred in holding that the appellant has not satisfactorily substantiated its ground against the addition made by the AO on the issue of delayed payment charges disregar…

JCIT(OSD)-14(1)(1), MUMBAI vs. MAHARASHTRA STATE ELECTRICITY TRANSMISSION CO. LTD., MUMBAI

ITA 2093/MUM/2025[2016-17]Status: DisposedITAT Mumbai06 Feb 2026AY 2016-17

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Madhao VichoreFor Respondent: Shri Solgy Jose

Section 143(3)Section 14A

…Court 1990-53 Taxman536 to the similar effect. 7. On the facts and circumstances of the case and law, the CIT(A) erred in not properly applying the law laid by the Apex Court in CIT vs. Godhra Electricity Co. 225 ITR 746 SC and Andhra Bank case as reported in 225 ITR 447.SC which held that if income by following book keeping methods, the liability to tax cannot be attracted. 8. On the facts and circumstances of the case and law, the Learned CIT(A) erred in holding that the appellant has not satisfactorily substantiated its ground against the addition made by the AO on the issue of delayed payment charges disregar…

ACIT, C. R. BUILDING vs. HANSDEEP INDUSTRIES AND TRADING COMPANY LTD., FOURTH FLOOR, LINK HOUSE,

In the result, the appeal is allowed

ITA 3466/DEL/2023[2016-17]Status: DisposedITAT Delhi28 May 2025AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2016-17 Vs. M/S. Acit, Hansdeep Industries C.R. Building & Trading Company Ltd., New Delhi 4Th Floor, Link House, 3 Bahadur Shah Zafar Marg, New Delhi Pan: Aabcj0776A (Appellant) (Respondent) Assessee By Sh. Ankit Kumar, Adv. Sh. Lalit Mohan, Ca Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing 28.05.2025 Date Of Pronouncement 28.05.2025 Order

Section 143(3)Section 5Section 57

…f the parties settled the accounts by paying some interest and hence, we agree that computation of notional interest at 14% on all the advances and making additions on that basis to the income of the assessee, is not justified” 5.4. In Andhra Bank case (1997) 225 ITR 447 (SC) it was held that there cannot be a tax if no income resulted, despite the entry in the book keeping. 5.5. In the case of Asian Hotels (2010) 323 ITR 490 (Delhi), the Delhi High Court considered the issue of notional income from interest free loans received by the petitioner in respect of shops given on rent. The 3 | P a g e Assessing Officer…

D.C.I.T.,CIRCLE-6(1), KOLKATA vs. M/S ICA EDUSKILL PVT. LTD., KOLKATA

In the result the appeal of the revenue is dismissed

ITA 2147/KOL/2019[2008-09]Status: DisposedITAT Kolkata12 Jul 2022AY 2008-09

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

Section 143(3)Section 147Section 148Section 14ASection 154Section 35D

…ITA No. 2147/KOL/2019 A.Y. 2008-2009 M/s. ICA Eduskill Pvt. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘A’ BENCH, KOLKATA [Physical Court Hearing] Before Shri Rajpal Yadav, Vice-President(KZ) & Shri Rajesh Kumar, Accountant Member I.T.A. No. 2147/KOL/2019 Assessment Year: 2008-2009 Deputy Commissioner of Income Tax,...........................................Appellant Circle-6(1), Kolkata, Aayakar Bhawan, 6th Floor, P-7, Chowringhee Square, Kolkata-700069 -Vs.- M/s. ICA Eduskill Pvt. Limited,......................................................Respondent 27, Netaji Subhas Road, Kolkata-700001 [PAN:A…