CIT v. Aditya Builders

378 ITR 75High Court2015#5581 most cited

What is CIT v. Aditya Builders authority for?

The appropriate method of accounting to correctly reflect a true financial statement is a matter of opinion and debate, which is not amenable to revisional jurisdiction under Section 263 of the Act. The Assessing Officer cannot change the method of revenue recognition to the percentage completion method if the assessee has consistently followed the project completion method.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Aditya Builders · CIT v Aditya Builders · 378 ITR 75 · section 263 · revisional jurisdiction · accounting method · project completion method · percentage completion method · revenue recognition · AO jurisdiction

Also reported as

158 Taxmann 61

Issues it is cited on

section 145(1)section 2(7)section 132(2)section 132(1)(a)section 153(a)(1)section 250(1)section 45(2)project completion methodsection 211percentage completion methodsection 145(2)jda

Judgments citing CIT v. Aditya Builders

Das Enterprise, Kolkata vs. CIT, Kolkata-12, Kolkata

In the result, assessee’s appeal is partly allowed

ITA 160/KOL/2015[2010-2011]Status: DisposedITAT Kolkata10 Feb 2016AY 2010-2011

Bench: Shri, Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year :2010-11

Section 133(6)Section 143(3)Section 145Section 263

…to show higher amount of recoverable in order to avail the bank loan facilities in connection with the business of the assessee. The ld. AR also relied in support of his claim in the order of Hon’ble High Court of Bombay in the case of CIT Vs. Aditya Builders 378 ITR 75 (Bom) stating that the assessee can follow the cash accounting system for the labour charges. On the other hand the ld. DR vehemently supported the order of the ld. CIT. 4.2 Regarding the commission issue Ld. AR submitted that the commission was disallowed by AO in his assessment order and matter was travelled before Ld. CIT(A) who decided this a…