What is CIT v. Balchand Ajit Kumar authority for?

When making an addition for unaccounted receipts, on-money, or non-genuine purchases/sales, the addition should be restricted to the estimated profit element embedded in such transactions, rather than the entire gross amount, particularly when evidence of corresponding expenditure is incomplete. This estimation often involves applying a net profit rate.

How many judgments cite CIT v. Balchand Ajit Kumar?

212 judgments on BharatTax cite CIT v. Balchand Ajit Kumar (263 ITR 610), spanning 2008 to 2026.

Which sections of the Income Tax Act does CIT v. Balchand Ajit Kumar come up under?

It is most often cited in judgments turning on Section 147, Section 132, Section 143(3), Section 142(1), Section 148, Section 153A.

CIT v. Balchand Ajit Kumar (263 ITR 610)

Deputy Commissioner of Income Tax-2 (1), Indore vs. M/S Dthri Health Care Pvt. Ltd. (M.P), Indore

In the result Ground No.2 of the revenue stands

ITA 604/IND/2017[2013-14]Status: DisposedITAT Indore02 Jan 2019AY 2013-14

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2013-14 Dcit-2(1), M/S. Dthri Health Care Indore Vs. Pvt. Ltd (M.P), Pu-4, Scheme No.54, Near A.B. Road, Indore (Appellant) (Respondent ) Pan No.Aabcd4095N Revenue By Shri R.P. Mourya, Sr.Dr Assessee By S/Shri Sumit Neema, Sr.Adv & Gagan Tiwari, Adv Date Of Hearing 17.12.2018 Date Of Pronouncement 02.01.2019 O R D E R

Section 115BSection 133ASection 143(3)Section 147Section 148

…Dthri Health Care Pvt. Ltd आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE HON'BLE KUL BHARAT, JUDICIAL MEMBER AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER Assessment Year 2013-14 DCIT-2(1), M/s. Dthri Health Care Indore Vs. Pvt. Ltd (M.P), PU-4, Scheme No.54, Near A.B. Road, Indore (Appellant) (Respondent ) PAN No.AABCD4095N Revenue by Shri R.P. Mourya, Sr.DR Assessee by S/Shri Sumit Neema, Sr.Adv & Gagan Tiwari, Adv Date of Hearing 17.12.2018 Date of Pronouncement 02.01.2019 O R D E R PER MANISH BORAD, AM. The above captioned appeal is filed at the i…

The DCIT, Central Circle-3, Surat vs. Shri Mehul T. Desai, Surat

In the result, appeal of the Revenue is dismissed

ITA 350/AHD/2017[2014-15]Status: DisposedITAT Surat13 Dec 2018AY 2014-15

Bench: Shri Rajpal Yadav & Shri Amarjit Singh"नधा"रणवष"/Asstt. Year: 2014-15

For Appellant: Shri Rasesh Shah, CAFor Respondent: Smt.Smitha V. Nair, Sr.DR

Section 132Section 133ASection 145

…IN THE INCOME TAX APPELLATE TRIBUNAL SURAT– BENCH ‘SURAT’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER "नधा"रणवष"/Asstt. Year: 2014-15 DCIT, cent.Cir.3 Vs. Shri Mehul T. Desai Surat. (Prop. Of Yash Clinical Laboratory) U-11 to 13, Trade Centre Opp: SBI, Nanpura, Surat. PAN : ABWPD 2707 L (Applicant) (Respondent) Revenue by : Smt.Smitha V. Nair, Sr.DR Assessee by : Shri Rasesh Shah, CA सुनवाईक"तार"ख/Date of Hearing : 13/11/2018 घोषणाक"तार"ख/Date of Pronouncement: 13/12/2018 आदेश/O R D E R PER RAJPAL YADAV, JUDICIAL MEMBER: Revenue is in appeal before the Tribunal against…

ACIT, New Delhi vs. M/S. Latex Chemicals (P) Ltd., Kanpur

Appeal is partly allowed

ITA 5014/DEL/2014[2007-08]Status: DisposedITAT Delhi29 Nov 2018AY 2007-08

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 132Section 132(1)Section 143(3)Section 145ASection 153A

…ing to the facts CIT(A) found it to be only unaccounted turnover. It is trite law that in case of unaccounted turnover, only addition of profit embedded therein can be made as held by the Hon’ble MP High Court in the case of CIT vs. Balchand Ajit Kumar [2003] 263 ITR 610 (MP) and Hon’ble Gujarat High Court in the case of CIT vs. President Industries [2002] 258 ITR 654 (Guj). Further, it has been held by the Hon’ble Calcutta High Court in the case of CIT vs. S.M. Omer (1993) 201 ITR 608 (Cal) that in such circumstances AO cannot take resort to Section 69 of the IT Act, 1961, and only net profit rate has to be appl…

Shri Vinod Kumar Jain, Kota vs. Pr. Commissioner of Income Tax, Kota

In the result, appeal of the assessee is allowed

ITA 726/JPR/2018[2008-09]Status: DisposedITAT Jaipur25 Sept 2018AY 2008-09

For Appellant: Shri Shravan Kr. Gupta (Adv)For Respondent: Shri K.C. Meena (Addl.CIT)

Section 143(3)Section 147Section 148Section 263Section 263(1)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 726/JP/2018 fu/kZkj.k o"kZ@Assessment Year :2008-09 cuke Shri Vinod Kumar Jain, Pr.C.I.T., Vs. 320, Transport Nagar, Anantpura, Kota. Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ABLPJ 8219 Q vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Shravan Kr. Gupta (Adv) jktLo dh vksj ls@ Revenue by : Shri K.C. Meena (Addl.CIT) l…

DCIT, Cir-3(1), Kolkata vs. M/S Chhabra Ispat Pvt. Ltd., Kolkata

In the result, the appeal of revenue is dismissed

ITA 504/KOL/2016[2011-2012]Status: DisposedITAT Kolkata13 Jul 2018AY 2011-2012

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 148

…he assessee has earned during the year under consideration, which has not been considered by the A.O. For this proposition, the A/R, of the Appellant relied upon various decision 1. CIT vs. Presidents Industries 258 ITR 654(Guj) 2. CIT vs. Balchand Ajit Kumar 263 ITR 610 (M.P). The A/R, of the Appellant has also relied on the decision of the Hon'ble ITAT Calcutta Bench in the case of M/s Foreign Liquor Shop vs. ITO (ITA No. 178/K/06) wherein it has been submitted that:- "we are of the view that the total sales cannot be regarded as profit of the assessee only the profit on such sales is liable to be taxed. This v…

M/S Shivhare Associates, Gwalior vs. A.C.I.T., Range-1, Gwalior

In the result, the appeals of the assessee are partly allowed

ITA 48/AGR/2015[2011-12]Status: DisposedITAT Agra16 May 2018AY 2011-12

Bench: Shri A.D. Jain & Dr. Mitha Lal Meenam/S Shivhare Associates, Jcit, Range-1, 44, Sindh Bihar, Nadi Gate, Vs. Gwalior Gwalior Pan Abbfs 6377 G

For Appellant: Shri K.C. Agarwal, AdvocateFor Respondent: Shri Waseem Arshad, Sr. DR And

Section 145(3)

…have any right to get back the prescribed fee paid to the Govt, in respect of the unsold stock, therefore, he has to sell the goods even at discounted rates. 3.5 The Hon’ble M.P. High Court (jurisdictional High Court) in the case of CIT Vs Balchand Ajit Kumar 263 ITR 610 M.P has held that the total sales cannot be regarded as the profit of the assessee. In the case of Manmohan Sadani Vs CIT 304 ITR 52 M.P the Hon’ble jurisdictional High Court has held that total sales cannot be regarded as profit of the assessee, on the contrary it is a net profit rate which has to be adopted in such cases. In view of the finding…

M/S Shivhare Associates, Gwalior vs. J.C.I.T., Range-1, Gwalior

In the result, the appeals of the assessee are partly allowed

ITA 47/AGR/2015[2010-11]Status: DisposedITAT Agra16 May 2018AY 2010-11

Bench: Shri A.D. Jain & Dr. Mitha Lal Meenam/S Shivhare Associates, Jcit, Range-1, 44, Sindh Bihar, Nadi Gate, Vs. Gwalior Gwalior Pan Abbfs 6377 G

For Appellant: Shri K.C. Agarwal, AdvocateFor Respondent: Shri Waseem Arshad, Sr. DR And

Section 145(3)

…have any right to get back the prescribed fee paid to the Govt, in respect of the unsold stock, therefore, he has to sell the goods even at discounted rates. 3.5 The Hon’ble M.P. High Court (jurisdictional High Court) in the case of CIT Vs Balchand Ajit Kumar 263 ITR 610 M.P has held that the total sales cannot be regarded as the profit of the assessee. In the case of Manmohan Sadani Vs CIT 304 ITR 52 M.P the Hon’ble jurisdictional High Court has held that total sales cannot be regarded as profit of the assessee, on the contrary it is a net profit rate which has to be adopted in such cases. In view of the finding…

Prakash Rameshbhai Nanda, Jamnagar vs. Income Tax Officer, Ward-3(1), Jamnagar

In the result, appeal of the assessee in ITA No

ITA 13/RJT/2018[2009-10]Status: DisposedITAT Rajkot01 Mar 2018AY 2009-10

Bench: Shri S.S. Godara & Shri Pradip Kumar Kedia

For Appellant: Shri Chetan L.Agrawal, ARFor Respondent: Smt. Usha N. Shrote, Sr.DR

Section 143(2)Section 143(3)Section 147Section 68

…ofits arising from such unaccounted sales is required to be made as per several decisions of the Hon’ble High Court as well as Coordinate Bench of Tribunal viz: (i) CIT vs. President Industries (2002) 258 ITR 654 (Guj) (ii) CIT vs. Balchand Ajit Kumar (2003) 263 ITR 610 (MP) (iii) M/s.Balkrishna Dwarkadas vs. ITO in ITA No.923/Rjt/2010 order dated 01/01/2010 Rajkot Bench. (iv) Shri Rakesh S.Chhaparwal (HUF) vs. ITO in ITA Nod.502 & 503/Rjt/08 order dated 28/08/2009, Rajkot Bench. 15. On perusal of the precedents noted above, we are inclined to agree with the contention of the assessee in principle. The issue of…