Calcutta Co. Ltd. v. Commissioner of Income Tax, West Bengal (1959) 37 ITR 1(SC), CIT v. S.P. Jaiswal Estates (P) Ltd.

214 ITR 448High Court1995#5222 most cited

What is Calcutta Co. Ltd. v. Commissioner of Income Tax, West Bengal (1959) 37 ITR 1(SC), CIT v. S.P. Jaiswal Estates (P) Ltd. authority for?

The principle of consistency suggests that if income-tax authorities have consistently accepted a certain treatment of income or expenditure over multiple assessment years without questioning it, they should generally continue to do so, absent significant new information or changed circumstances. This principle aims to provide certainty and predictability in tax matters.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2016.

Also referred to as

Calcutta Co. Ltd. v. CIT · principle of consistency · section 10(2)(xv) · section 10(1) · business expenditure · accepted practice · tax assessment · revenue acceptance · multiple assessment years · CIT v. S.P. Jaiswal Estates

Issues it is cited on

section 10(2)(xv)section 10(2)section 10(1)rule of consistencysection 260section 260amercantile system of accountingsection 263section 10section 26salaryprevious year

Judgments citing Calcutta Co. Ltd. v. Commissioner of Income Tax, West Bengal (1959) 37 ITR 1(SC), CIT v. S.P. Jaiswal Estates (P) Ltd.

M/S Aggarwal & Modi Enterprises Pvt Ltd vs. Commissioner of Income Tax

ITA - 1273 / 2009HC Delhi21 Jan 2016

…Ltd. (1993) 199 ITR 14 (SC) and Bharat Earth Movers v. CIT (2000) 245 ITR 428 (SC). A reference was also made to the decisions in Calcutta Co. Ltd. v. Commissioner of Income Tax, West Bengal (1959) 37 ITR 1(SC), CIT v. S.P. Jaiswal Estates (P) Ltd. (1995) 214 ITR 448 (Cal) and CIT v. Dalmia Dairy Industries Ltd. (1991) 189 ITR 167 (Del). 35. Mr. Aggarwal also stressed on the principle of consistency and pointed out that there were 14 AYs in which the case of the Assessee was accepted in toto by the Revenue and that there was no questioning of the orders of the AO in which the entire amounts that were p…

M/S Aggarwal & Modi Enterprises vs. Commissioner of Income Tax

ITA - 1277 / 2009HC Delhi21 Jan 2016

…Ltd. (1993) 199 ITR 14 (SC) and Bharat Earth Movers v. CIT (2000) 245 ITR 428 (SC). A reference was also made to the decisions in Calcutta Co. Ltd. v. Commissioner of Income Tax, West Bengal (1959) 37 ITR 1(SC), CIT v. S.P. Jaiswal Estates (P) Ltd. (1995) 214 ITR 448 (Cal) and CIT v. Dalmia Dairy Industries Ltd. (1991) 189 ITR 167 (Del). 35. Mr. Aggarwal also stressed on the principle of consistency and pointed out that there were 14 AYs in which the case of the Assessee was accepted in toto by the Revenue and that there was no questioning of the orders of the AO in which the entire amounts that were p…