CIT v. Apsara Talkies

155 ITR 303High Court1985#12215 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 348,615 Indian tax judgments — from 2018 to 2024.

Judgments citing CIT v. Apsara Talkies

Sengoda Gounder HUF, Salem vs. DCIT, Circle-1, Salem

In the result, the appeal filed by the assessee is allowed

ITA 1179/CHNY/2023[2010-11]Status: DisposedITAT Chennai15 Mar 2024AY 2010-11

Bench: Shri Manjunatha. G & Shri Manomohan Dasआयकर अपील सं./Ita No.1179/Chny/2023 िनधा(रण वष( /Assessment Year: 2010-11 Sengoda Gounder Huf, The Dy. Commissioner Of 6, Backside Of Collector’S Vs. Income Tax, Bungalow, Hasthampatti, Circle-1, Salem – 636 007. Salem. [Pan: Aayhs-3071-F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Vasudevan, Advocate ""यथ" क" ओर से /Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 15.02.2024 घोषणा क" तारीख /Date Of Pronouncement : 15.03.2024

For Appellant: Shri T. Vasudevan, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 148Section 271(1)(c)

…tment has evidentiary value and they are intended to give information or instruction to the registering authorities but the guidelines would not establish the market value of the land. 13. The Hon’ble Madras High Court in the case of CIT vs. Apsara Talkies 155 ITR 303 (Mad) held that, a valuation estimate, without more, cannot justify a finding of concealment. 14. The Hon’ble Supreme Court in the case of CIT vs. Reliance Petroproducts Pvt. Ltd. 322 ITR 158 (SC) held that making an incorrect claim in law cannot tantamount to furnishing inaccurate particulars. :- 7 -: 15. We observe that the aforesaid decisi…

Ginjala Atchiraju, L/R. of Ginjala Simhadri Raju, Kakinada vs. Income-Tax Officer, Ward -1, Kakinada

In the result, appeal of the assessee is partly allowed

ITA 159/VIZ/2022[2015-16]Status: DisposedITAT Visakhapatnam15 Jun 2023AY 2015-16

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Sri G.V.N. Hari, ARFor Respondent: Sri Sankar Pandi, Sr. AR
Section 133ASection 143(2)Section 148Section 271(1)(c)

…आयकर अपील"यअ"धकरण, "वशाखापटणम पीठ, "वशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM "ी दु"वू" आर एल रे"डी, "या"यक सद"य एवं "ी एस बालाकृ"णन, लेखा सद"य के सम" BEFORE SHRI DUVVURU RL REDDY, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./ I.T.A. No.159/Viz/2022 ("नधा"रण वष" / Assessment Year :2015-16) Sri Ginjala Atchiraju Vs. Income Tax Officer, L/R of Ginjala Simhadri Raju, Ward-1, Valasapakala, Kakinada, Kakinada. Andhra Pradesh. PAN: ALTPG 5340 B (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant by : Sri G.V.N. Hari, A…

The ITO, Kollam vs. Sri.A.Shihabudeen, Kollam

In the result, the appeals filed by the Revenue are dismissed

ITA 568/COCH/2019[2004-05]Status: DisposedITAT Cochin10 Feb 2020AY 2004-05

Bench: Shri Chandra Poojari, Am

For Appellant: Sri.Mrithunjaya Sharma, Sr.DRFor Respondent: Sri.S.Rajagopal, CA
Section 271(1)(c)Section 274

…R submitted that the issue may be remitted to the CIT(A) to be decided afresh on merits. In my opinion, even on merit also the issue is covered in favour of the assessee by the judgment of Hon’ble Madras High Court in the case of CIT v. Apsara Talkies [(1985) 155 ITR 303 (Mad.)] “4. We agree with the reasoning and conclusion of the Tribunal. The whole basis for rejecting the assessee's return was the Departmental Valuer's estimate of the cost of construction of the theatre. We, however, fail to see how a finding of concealment of income can be founded on a valuer's estimate. It is jocularly said that a valuer is…

The ITO, Kollam vs. Sri.A.Shihabudeen, Kollam

In the result, the appeals filed by the Revenue are dismissed

ITA 567/COCH/2019[2003-04]Status: DisposedITAT Cochin10 Feb 2020AY 2003-04

Bench: Shri Chandra Poojari, Am

For Appellant: Sri.Mrithunjaya Sharma, Sr.DRFor Respondent: Sri.S.Rajagopal, CA
Section 271(1)(c)Section 274

…R submitted that the issue may be remitted to the CIT(A) to be decided afresh on merits. In my opinion, even on merit also the issue is covered in favour of the assessee by the judgment of Hon’ble Madras High Court in the case of CIT v. Apsara Talkies [(1985) 155 ITR 303 (Mad.)] “4. We agree with the reasoning and conclusion of the Tribunal. The whole basis for rejecting the assessee's return was the Departmental Valuer's estimate of the cost of construction of the theatre. We, however, fail to see how a finding of concealment of income can be founded on a valuer's estimate. It is jocularly said that a valuer is…

The ITO, Kollam vs. Sri.A.Shihabudeen, Kollam

In the result, the appeals filed by the Revenue are dismissed

ITA 566/COCH/2019[2002-03]Status: DisposedITAT Cochin10 Feb 2020AY 2002-03

Bench: Shri Chandra Poojari, Am

For Appellant: Sri.Mrithunjaya Sharma, Sr.DRFor Respondent: Sri.S.Rajagopal, CA
Section 271(1)(c)Section 274

…R submitted that the issue may be remitted to the CIT(A) to be decided afresh on merits. In my opinion, even on merit also the issue is covered in favour of the assessee by the judgment of Hon’ble Madras High Court in the case of CIT v. Apsara Talkies [(1985) 155 ITR 303 (Mad.)] “4. We agree with the reasoning and conclusion of the Tribunal. The whole basis for rejecting the assessee's return was the Departmental Valuer's estimate of the cost of construction of the theatre. We, however, fail to see how a finding of concealment of income can be founded on a valuer's estimate. It is jocularly said that a valuer is…

The ITO, Kollam vs. Sri.A.Shihabudeen, Kollam

In the result, the appeals filed by the Revenue are dismissed

ITA 565/COCH/2019[2001-02]Status: DisposedITAT Cochin10 Feb 2020AY 2001-02

Bench: Shri Chandra Poojari, Am

For Appellant: Sri.Mrithunjaya Sharma, Sr.DRFor Respondent: Sri.S.Rajagopal, CA
Section 271(1)(c)Section 274

…R submitted that the issue may be remitted to the CIT(A) to be decided afresh on merits. In my opinion, even on merit also the issue is covered in favour of the assessee by the judgment of Hon’ble Madras High Court in the case of CIT v. Apsara Talkies [(1985) 155 ITR 303 (Mad.)] “4. We agree with the reasoning and conclusion of the Tribunal. The whole basis for rejecting the assessee's return was the Departmental Valuer's estimate of the cost of construction of the theatre. We, however, fail to see how a finding of concealment of income can be founded on a valuer's estimate. It is jocularly said that a valuer is…

The ITO, Kollam vs. Sri.A.Shihabudeen, Kollam

In the result, the appeals filed by the Revenue are dismissed

ITA 564/COCH/2019[2000-01]Status: DisposedITAT Cochin10 Feb 2020AY 2000-01

Bench: Shri Chandra Poojari, Am

For Appellant: Sri.Mrithunjaya Sharma, Sr.DRFor Respondent: Sri.S.Rajagopal, CA
Section 271(1)(c)Section 274

…R submitted that the issue may be remitted to the CIT(A) to be decided afresh on merits. In my opinion, even on merit also the issue is covered in favour of the assessee by the judgment of Hon’ble Madras High Court in the case of CIT v. Apsara Talkies [(1985) 155 ITR 303 (Mad.)] “4. We agree with the reasoning and conclusion of the Tribunal. The whole basis for rejecting the assessee's return was the Departmental Valuer's estimate of the cost of construction of the theatre. We, however, fail to see how a finding of concealment of income can be founded on a valuer's estimate. It is jocularly said that a valuer is…

Smt. Shipra Jain, Jaipur vs. Assistant Commissioner of Income Tax, Central Circle-1, Jaipur

In the result, the penalty so levied u/s 271(1)(c) is hereby deleted and appeals are allowed

ITA 922/JPR/2018[2009-10]Status: DisposedITAT Jaipur31 Oct 2018AY 2009-10
For Appellant: Shri P. C. Parwal (CA)For Respondent: Shri J. C. Kulhari (JCIT)
Section 132Section 132(4)Section 153ASection 271(1)(c)

…assessed at a higher figure solely on the basis of the valuer’s report which showed the cost of construction at a figure higher than the one reported by the assessee. Smt. Shipra Jain & Sh. Sapna Jain, Jaipur vs. ACIT, Jaipur • CIT Vs. Apsara Talkies (1985) 155 ITR 303 (Mad.) (HC) Mere estimate of cost by departmental valuer could not constitute material to concealment, more so, there was no evidence of understatement of construction expenses by assessee, therefore, levy of penalty was not valid. • ACIT Vs. Prakash Industries Ltd. (2016) 46 CCH 145 (Del.) (Trib.) The ITAT held that valuation made by DVO was…

CIT v. Apsara Talkies (155 ITR 303) — Cited in 8 Judgments | BharatTax