CIT v. A. Krishnaswami Mudaliar

53 ITR 122Supreme Court of India1964#1638 most cited

What is CIT v. A. Krishnaswami Mudaliar authority for?

Under Indian income-tax law, the Income-tax Officer must compute income and profits according to the method of accounting regularly employed by the assessee, such as the cash or mercantile system. This distinguishes Indian law from English legislation where the tax authority is not bound by the assessee's chosen method.

69

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v A Krishnaswami Mudaliar · 53 ITR 122 · method of accounting · cash system · mercantile system · regularly employed method of accounting · Section 145 · Income-tax Act 1961 · Section 13 1922 Act · computation of income · ITO power

Sections most often in play

Section 143(3)Section 145(3)Section 147Section 148Section 115BBESection 142(1)Section 132Section 143(2)
Read the full judgment

Issues it is cited on

section 145(1)section 10(2)(xv)section 211project completion methodsection 10(2)section 145(2)percentage completion methodjdasection 52section 53asection 53joint development agreement

Judgments citing CIT v. A. Krishnaswami Mudaliar

M/S Bhomiyaji Land & Finance Co., Dewas vs. The ACIT 1(1), Ujjain

In the result ground No.3& 4 are dismissed

ITA 263/IND/2013[2006-07]Status: DisposedITAT Indore31 Jan 2018AY 2006-07

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07

Section 133ASection 143(2)

…on 144.]” 3.2.14 As per the provisions of section 145(3), if AO is not satisfied about the correctness of the account he can invoked the provisions of section 145(3). It is held by Hon'ble Supreme Court in the case of CIT vs. A. Krishna Swami Mudliyar (1964) 53 ITR 122 (SC) held that: “ Section 145 does not compel the ITO to accept in all cases a balance sheet of cash receipt and out goings prepared from the books of account.” 3.2.15 In the case of Hon'ble CIT vs. McMillan& Co. (1958) 33 ITR 182 (SC) it is held by the Hon'ble Apex Court that : “ The ITO even when he accepts the assessee’s method of accounting i…

M/S Bhoomiyaji Land & Finance Co., Dewas vs. The ITO, Dewas

In the result ground No.3& 4 are dismissed

ITA 142/IND/2013[2008-09]Status: DisposedITAT Indore31 Jan 2018AY 2008-09

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07

Section 133ASection 143(2)

…on 144.]” 3.2.14 As per the provisions of section 145(3), if AO is not satisfied about the correctness of the account he can invoked the provisions of section 145(3). It is held by Hon'ble Supreme Court in the case of CIT vs. A. Krishna Swami Mudliyar (1964) 53 ITR 122 (SC) held that: “ Section 145 does not compel the ITO to accept in all cases a balance sheet of cash receipt and out goings prepared from the books of account.” 3.2.15 In the case of Hon'ble CIT vs. McMillan& Co. (1958) 33 ITR 182 (SC) it is held by the Hon'ble Apex Court that : “ The ITO even when he accepts the assessee’s method of accounting i…

The DCIT, 1(1), Ujjain vs. M/S Bhoomiyaji Land & Finance Co., Dewas

In the result ground No.3& 4 are dismissed

ITA 137/IND/2013[2008-09]Status: DisposedITAT Indore31 Jan 2018AY 2008-09

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07

Section 133ASection 143(2)

…on 144.]” 3.2.14 As per the provisions of section 145(3), if AO is not satisfied about the correctness of the account he can invoked the provisions of section 145(3). It is held by Hon'ble Supreme Court in the case of CIT vs. A. Krishna Swami Mudliyar (1964) 53 ITR 122 (SC) held that: “ Section 145 does not compel the ITO to accept in all cases a balance sheet of cash receipt and out goings prepared from the books of account.” 3.2.15 In the case of Hon'ble CIT vs. McMillan& Co. (1958) 33 ITR 182 (SC) it is held by the Hon'ble Apex Court that : “ The ITO even when he accepts the assessee’s method of accounting i…

The DCIT, 1(1), Ujjain vs. M/S. Bhoomiyaji Land & Finance Ltd., Dewas

In the result ground No.3& 4 are dismissed

ITA 634/IND/2014[2010-11]Status: DisposedITAT Indore31 Jan 2018AY 2010-11

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07

Section 133ASection 143(2)

…on 144.]” 3.2.14 As per the provisions of section 145(3), if AO is not satisfied about the correctness of the account he can invoked the provisions of section 145(3). It is held by Hon'ble Supreme Court in the case of CIT vs. A. Krishna Swami Mudliyar (1964) 53 ITR 122 (SC) held that: “ Section 145 does not compel the ITO to accept in all cases a balance sheet of cash receipt and out goings prepared from the books of account.” 3.2.15 In the case of Hon'ble CIT vs. McMillan& Co. (1958) 33 ITR 182 (SC) it is held by the Hon'ble Apex Court that : “ The ITO even when he accepts the assessee’s method of accounting i…

M/S. Bhomiyaji Land & Finance Co., Dewas vs. The ITO, Dewas

In the result ground No.3& 4 are dismissed

ITA 490/IND/2013[2007-08]Status: DisposedITAT Indore31 Jan 2018AY 2007-08

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07

Section 133ASection 143(2)

…on 144.]” 3.2.14 As per the provisions of section 145(3), if AO is not satisfied about the correctness of the account he can invoked the provisions of section 145(3). It is held by Hon'ble Supreme Court in the case of CIT vs. A. Krishna Swami Mudliyar (1964) 53 ITR 122 (SC) held that: “ Section 145 does not compel the ITO to accept in all cases a balance sheet of cash receipt and out goings prepared from the books of account.” 3.2.15 In the case of Hon'ble CIT vs. McMillan& Co. (1958) 33 ITR 182 (SC) it is held by the Hon'ble Apex Court that : “ The ITO even when he accepts the assessee’s method of accounting i…

The DCIT, 1(1), Ujjain vs. M/S. Bhoomiyaji Land & Finance Co., Dewas

In the result ground No.3& 4 are dismissed

ITA 412/IND/2013[2007-08]Status: DisposedITAT Indore31 Jan 2018AY 2007-08

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07

Section 133ASection 143(2)

…on 144.]” 3.2.14 As per the provisions of section 145(3), if AO is not satisfied about the correctness of the account he can invoked the provisions of section 145(3). It is held by Hon'ble Supreme Court in the case of CIT vs. A. Krishna Swami Mudliyar (1964) 53 ITR 122 (SC) held that: “ Section 145 does not compel the ITO to accept in all cases a balance sheet of cash receipt and out goings prepared from the books of account.” 3.2.15 In the case of Hon'ble CIT vs. McMillan& Co. (1958) 33 ITR 182 (SC) it is held by the Hon'ble Apex Court that : “ The ITO even when he accepts the assessee’s method of accounting i…

The DCIT, 1(1), Ujjain vs. M/S. Bhoomiyaji Land & Finance Co., Dewas

In the result ground No.3& 4 are dismissed

ITA 411/IND/2013[2006-07]Status: DisposedITAT Indore31 Jan 2018AY 2006-07

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07

Section 133ASection 143(2)

…on 144.]” 3.2.14 As per the provisions of section 145(3), if AO is not satisfied about the correctness of the account he can invoked the provisions of section 145(3). It is held by Hon'ble Supreme Court in the case of CIT vs. A. Krishna Swami Mudliyar (1964) 53 ITR 122 (SC) held that: “ Section 145 does not compel the ITO to accept in all cases a balance sheet of cash receipt and out goings prepared from the books of account.” 3.2.15 In the case of Hon'ble CIT vs. McMillan& Co. (1958) 33 ITR 182 (SC) it is held by the Hon'ble Apex Court that : “ The ITO even when he accepts the assessee’s method of accounting i…

Addl CIT 2(1), Mumbai vs. Gtl Ltd, Mumbai

ITA 5419/MUM/2010[2006-07]Status: DisposedITAT Mumbai31 May 2017AY 2006-07

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwal

Section 10BSection 143(1)

…. vs. CIT (1978) 111 ITR 53 (Cal) : TC2R.122 reversed; B.S.C. Footwear Ltd. vs. Ridgway (Inspector of Taxes) (1971) 2 WLR 1313 (HL) CIT vs. Sarangpur Cotton Manufacturing Co. Ltd. (1938) 6 ITR 36 (PC) : TC1R.109, CIT vs. A. Krishnaswami Mudaliar & Ors. (1964) 53 ITR 122 (SC) : (1964) TAX 18(3) 88 : TC1R.131, S.N. Namasivayam Chettair vs. CIT (1960) 38 ITR 579 (SC) : (1960) TAX 13(3) -105 : TC1R.532, IRC vs. Cock, Rusell and Co. Ltd. (1949) 29 Tax Cases 387, Whimster and Co. vs. IRC (1917-26) 12 Tax Cases 813 and Chainrup Sampatram vs. CIT (1953) 24 ITR 481 (SC) : TC2R.124 relied on. xxxxxxxxxxxxxxxxxxxxxxxxxx 5.6…

ITO, Ward - 11(2), Kolkata vs. M/S. Santhal Multicast Pvt. Ltd., Kolkata

In the result, Revenue’s appeal is dismissed

ITA 2229/KOL/2010[2004-05]Status: DisposedITAT Kolkata04 Dec 2015AY 2004-05

Bench: Shri N.V. Vasudevan & Shri Waseem Ahmedassessment Year :2004-05

Section 133(6)Section 143(3)Section 144Section 145Section 209(1)(D)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “B” KOLKATA Before Shri N.V. Vasudevan, Judicial Member and Shri Waseem Ahmed, Accountant Member Assessment Year :2004-05 Income Tax Officer, V/s. M/s Santhal Multicast Ward-11(2), P7, Pvt. Ltd., 11/B, Maharshi Chowringhee Square, Devendra Road, Room 6th Floor, Kolkata-69 No.11, 2nd Floor, Kolkata-001 [PAN No.AAJCS 1215K] अपीलाथ" /Appellant .. ""यथ"/Respondent Shri Sanjay Mukherjee, JCIT-SR-DR अपीलाथ" क" ओर से/By Appellant ""यथ" क" ओर से/By Respondent None सुनवाई क" तार"ख/Date of Hearing 16-11-2015 घोषणा क" तार"ख/Date of Pronouncement 04-12-2015 आदेश /O R…