Bakshi Vikram Vikas Construction Co. P. Ltd. v. DCIT

ITO-1(1)(1), MUMBAI vs. M/S ARISTO SHELTERS PVT. LTD., MUMBAI

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

…accounting that is followed by many enterprises operating in real estate business as it is a scientific method that has stood the judicial scrutiny in a number of precedents a few of which are mentioned as under: (a) CIT us. V. S. Dempo & Co. Pvt. Ltd. (1996) 131 CTR 203 (Bom) (b) Shapoorji Pallonji (Rajkot) Put. Ltd. vs. CIT (1994) 49 ITD 479 (Bom) (c) Nandi Housing Pvt. Ltd. vs. DCIT (2004) 2 SOT 395 (Bang) (d) DCIT vs. Ranka Developers (2006) 6 SOT 815 (Bang) (e) Haware Constructions (P) Ltd. vs. ПO (2011) 64 DTR (Mumbai) (Trib) 251 (f) DCIT vs. Ankit Chirag Developers Pvt. Ltd. (2014) 40 CCH 018 JodhTrib 10…

SURELA INVESTMENT & TRADING P. LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (OSD)-2(3), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Pawan Singh, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 6031/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2007-08)

…7 Surela Investments & Trading Pvt. Ltd. 2005-06 and 2008-09, the years under dispute. On this proposition the learned Counsel for the assessee relied on the decision of the Hon’ble Bombay High Court in the case of CIT vs. V.S. Dempo and Co. Pvt. Ltd. (1996) 131 CTR 203 (Bom) wherein the principle of complete contract method was accepted on the basis of consistency. The relevant finding of Hon’ble High Court are that once the completed project method has been constantly followed since beginning of the business and the assessing authorities have accepted the same in the preceding years, the construction of projec…

ITO 14(2)(2), MUMBAI vs. SEA SAGAR CONSTRUCTION CO., MUMBAI

In the result appeal filed by Revenue in ITA No

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.3751/Mum/2014 (नििाारण वर्ा / Assessment Year: 2000-01) बिाम/ Ito 14(2)(2) M/S. Sea Sagar R.No. 304, 3 Rd Floor, Construction Company, Earnest House, Abhay House, 1St Floor, V. Nariman Point, 428, Kalbadevi Road, Mumbai- 400021 Mumbai 400002 स्थायी ऱेखा सं./ Pan: Aacfs2838L (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri. D.G Pansari Assessee By: Shri. Nitesh Joshi सुनवाई की तारीख /Date Of Hearing : 30.01.2019 घोषणा की तारीख /Date Of Pronouncement : 30.04.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Revenue , Being Ita No. 3751/Mum/2014, Is Directed Against Appellate Order Dated 12.03.2014, Passed By Learned Commissioner Of Income Tax (Appeals)-25, Mumbai (Hereinafter Called “The Cit(A)”) Vide Cit(A)-25/It-204/14(2)(2)/11-12, For Assessment Year 2000-01, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Assessment Order Dated 29.12.2011 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) R.W.S. 254 Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2000-01. This Is Second Round Of Litigation Before The Tribunal. 2. The Grounds Of Appeal Raised By Revenue In The Memo Of Appeal Filed With The Income-Tax Appellate Tribunal, Mumbai (Hereinafter Called “The Tribunal”) Read As Under:-

…6.2010 4. CIT v. Bilahari Investment P. Ltd [2008] (299ITR 1)(SC) . 5. ACIT v. Skylark Build [2011] 15 taxmann.com 213 (Mum.) 6. CIT v. Khoday Distilleries Ltd (Kar HC) (ITRC Nos. 19 to 21 of 1993, dated 12.9.1995) 7. CIT v. V. S. Dempo & Co. Pvt. Ltd.[1996] (131 CTR 203) (Bombay) 8. CIT v. Vikas Oberoi (165 Taxation 7)(Bombay HC) 9. Awadhesh Builders v. 1TO [2010] (37 SOT 122)(Mum) 10. ACIT v. Rajesh Builders (2004-TI0L-88-ITAT-MUM) 11. ACIT v. Flowmore Pvt. Ltd. [1989] 33 TTJ (Del) 17 12. CIT v. Manju Gupta (RA No. 756/Bombay/94 and RA No. 757/Bom/94 order dated 10th Feb, 1995, Revenue required the Tribunal to…

SURELA INVESTMENT & TRADING P. LTD,MUMBAI vs. ITO 2(3)(2), MUMBAI

In the result, appeals of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI MANOJ KUMAR AGGARWAL, AM ITA No.3770/Mum/2013 (A.Y:2008-09) Surela Investment & Trading P. Income Tax Officer, Ltd. Ward 2(3)(2) Old ICI Godown, Fosbery RD Mumbai-400 020 off Eary Rd, Station (E) Vs. Mumbai-400 033 PAN No. AACCS2358C Appellant .. Respondent .. Shri JD Mistry, AR Assessee by Revenue by .. Mr.Vishwas Mundhe, DR .. Date of hearing 03-05-2017 Date of pronouncement .. 12-05-2017 O R D E R PER MAHAVIR SINGH, JM: These two appeals by the assessee are arising out of the different orders of CIT(A)-XXX & CIT(A)-…

SURLELA INVESTMENT & TRADING P. LTD,MUMBAI vs. ITO WD 3(1)(2), MUMBAI

In the result, appeals of assessee in ITA No

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI MANOJ KUMAR AGGARWAL, AM ITA No.3770/Mum/2013 (A.Y:2008-09) Surela Investment & Trading P. Income Tax Officer, Ltd. Ward 2(3)(2) Old ICI Godown, Fosbery RD Mumbai-400 020 off Eary Rd, Station (E) Vs. Mumbai-400 033 PAN No. AACCS2358C Appellant .. Respondent .. Shri JD Mistry, AR Assessee by Revenue by .. Mr.Vishwas Mundhe, DR .. Date of hearing 03-05-2017 Date of pronouncement .. 12-05-2017 O R D E R PER MAHAVIR SINGH, JM: These two appeals by the assessee are arising out of the different orders of CIT(A)-XXX & CIT(A)-…