Bharat Milk Products v. CIT

128 ITR 682High Court1981#22310 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,356 Indian tax judgments — from 2020 to 2021.

Judgments citing Bharat Milk Products v. CIT

DCIT, Circle, Mandi Gobindgarh Hq, Sirhind vs. M/S Sahil Concast (P) Ltd., Mandi Gobindgarh

In the result, the appeal of the Revenue is dismissed

ITA 959/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh06 Apr 2021AY 2012-13

Bench: Us. The Ld. Dr Fairly Agreed To The Same, But He Was Directed By The Bench To Submit In Writing Showing How The Issues Are The Same In Both The Cases

For Appellant: Shri Deepak Aggarwal, AdvFor Respondent: Shri Ashok Khanna, Addl.CIT

Section 145(3)Section 250(6)

…on account is not maintained can be regarded as fit cases for rejection of books of accounts. Such a stand is supported by the following judicial precedent i. The decision of the Hon'ble Allahabad High Court Bharat Milk Products ii. Commissioner of Income Tax 128 ITR 682, Allahabad; and ii. Punjab Trading Co. Ltd v. CIT 53 FTR 335 Punjab; A.Y. 2012-13 Page 12 of 17 The Ld. AO has while making the estimation used the benchmark of the minimum value of the average of electric units consumed per metric tons of finished goods over a period of 10 days and the lowest average value of electric units consumed per metri…

M/S Paramount Impex, Ludhiana vs. Assistant Commissioner of Income Tax, Ludhiana

The appeal of the assessee is allowed

ITA 1097/CHANDI/2016[2013-14]Status: DisposedITAT Chandigarh30 Jun 2020AY 2013-14

For Appellant: Shri Gaurav Sharma, CAFor Respondent: Shri Rajesh Dhaneshta, ACIT

Section 143(3)Section 145(3)Section 250(6)

…cally it is a question of fact to be decided on the facts and circumstances in each case. Rejection of books of accounts was justified on the basis of absence of day to day manufacturing or production account in the case of Bharat Milk Products vs. CIT (1981) 128 ITR 682 (All). The method of valuation of the appellant is against the laid down norms of accounting standards and therefore the books accounts are not reliable. Maintaining of production records and quantitative details of wastage / loss is a statutory requirement of the audit report u/s 44AB. The appellant could well have derived the wastage/loss at pe…

ACIT, Sangrur vs. M/S Aggarsain Fibres Ltd., Samana

In the result, appeal of the Department is allowed for statistical purposes

ITA 829/CHANDI/2016[2011-12]Status: DisposedITAT Chandigarh27 Feb 2020AY 2011-12

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Shri Arvind Sudarshan, Sr. DR

Section 143(1)Section 145(3)

…by invoking the provisions of Section 145(3) of the Act. The reliance was placed on the following case laws: • CIT Vs. British Paints India Ltd. (1991) 188 ITR 44 (SC) • Dondiram Dalichand Vs. CIT(1971) 81 ITR 609 (Bom) • Bharat Milk Products Vs. CIT (1981) 128 ITR 682 (AD) • Punjab Trading Co. Ltd. Vs. CIT • Howrah Trading Co. (P) Ltd. Vs. CIT (1968) 67 ITR 582 (Cal.) • Orissa Fisheries Development Corporation Ltd. Vs. CIT (1978) 111 ITR 923 (Ori) • S.N. Namasivayam Chettiar Vs. CIT [1960] 38 ITR 579 (SC) • Bharat Mills Products Vs. CIT (1981) 128 ITR 682 (All) • CIT Vs. McMillan & Co. (1958) 33 ITR 182 (SC) •…