CIT v. Balchand Ajit Kumar

263 ITR 610High Court2003#427 most cited

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.

212

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2008 to 2026.

Also referred to as

CIT v. Balchand Ajit Kumar · Section 147 · Section 148 · Section 145(3) · addition restricted to profit · estimated profit · unaccounted receipts · on-money · bogus purchases · non-genuine sales · net profit rate · income estimation

Also reported as

135 Taxmann 180

Sections most often in play

Section 147Section 132Section 143(3)Section 142(1)Section 148Section 153ASection 145(3)Section 132(4)

Issues it is cited on

section 256(1)section 256on money receipton-moneyrejection of books of accountloose paperssection 145(3)survey under section 133asection 145section 132(4a)section 292cblock period

Judgments citing CIT v. Balchand Ajit Kumar

Parthavi Construction Private Limited, Raipur vs. Assistat Commissioner of Incometax, Central Circle-1, Raipur

In the result, all the captioned appeals of the assessee are allowed

ITA 98/RPR/2019[2016-17]Status: DisposedITAT Raipur26 Oct 2021AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 93 To 99/Rpr/2019 ("नधा"रण वष" / Assessment Years : 2011-12 To 2017-18) M/S. Parthivi Constructions Asst. Commissioner Of बनाम/ Pvt. Ltd. Income Tax Vs. Parthivi Pacific, 3Rd Floor, Central Circle-1, Raipur Commercial Complex, Near (C.G.) Axis Bank, G.E. Road, Raipur (C.G.) "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccp4406G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri R. B. Doshi, C.A. अपीलाथ" ओर से /Appellant By : Shri R. K. Singh, Cit.Dr ""यथ" क" ओर से/Respondent By : 09/08/2021 सुनवाई क" तार"ख / Date Of Hearing 26/10/2021 घोषणा क" तार"ख /Date Of Pronouncement

For Appellant: Shri R. K. Singh, CIT.DRFor Respondent: 09/08/2021
Section 132Section 143(3)Section 153A

…sales/receipts for the purposes of making additions in several other decisions viz; CIT vs. S.C. Kothari (1971) 82 ITR 794 (SC); CIT vs. G.S. Juneja (2008) 302 ITR 63 (Guj); CIT vs. Babulal K. Daga (2016) 387 ITR 114 (Guj); CIT vs. Balchand Ajit Kumar (2003) 263 ITR 610 (MP); Anil Kumar Bajaj vs. DCIT in ITA No.4392/Del/2014; Hariram Brambhani Vs. ACIT in ITA No.5067/Mum/2010; Man Mohan Sadani Vs. CIT (2008) 304 ITR 52 etc…. In these decisions, it has been held that only profit can be taxed and not the entire receipts. 6.3 Having considered the facts of the case and the consistent position of law echoed by the…

Parthavi Construction Private Limited, Raipur vs. Assistat Commissioner of Incometax, Central Circle-1, Raipur

In the result, all the captioned appeals of the assessee are allowed

ITA 97/RPR/2019[2015-16]Status: DisposedITAT Raipur26 Oct 2021AY 2015-16

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 93 To 99/Rpr/2019 ("नधा"रण वष" / Assessment Years : 2011-12 To 2017-18) M/S. Parthivi Constructions Asst. Commissioner Of बनाम/ Pvt. Ltd. Income Tax Vs. Parthivi Pacific, 3Rd Floor, Central Circle-1, Raipur Commercial Complex, Near (C.G.) Axis Bank, G.E. Road, Raipur (C.G.) "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccp4406G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri R. B. Doshi, C.A. अपीलाथ" ओर से /Appellant By : Shri R. K. Singh, Cit.Dr ""यथ" क" ओर से/Respondent By : 09/08/2021 सुनवाई क" तार"ख / Date Of Hearing 26/10/2021 घोषणा क" तार"ख /Date Of Pronouncement

For Appellant: Shri R. K. Singh, CIT.DRFor Respondent: 09/08/2021
Section 132Section 143(3)Section 153A

…sales/receipts for the purposes of making additions in several other decisions viz; CIT vs. S.C. Kothari (1971) 82 ITR 794 (SC); CIT vs. G.S. Juneja (2008) 302 ITR 63 (Guj); CIT vs. Babulal K. Daga (2016) 387 ITR 114 (Guj); CIT vs. Balchand Ajit Kumar (2003) 263 ITR 610 (MP); Anil Kumar Bajaj vs. DCIT in ITA No.4392/Del/2014; Hariram Brambhani Vs. ACIT in ITA No.5067/Mum/2010; Man Mohan Sadani Vs. CIT (2008) 304 ITR 52 etc…. In these decisions, it has been held that only profit can be taxed and not the entire receipts. 6.3 Having considered the facts of the case and the consistent position of law echoed by the…

Parthavi Construction Private Limited, Raipur vs. Assistat Commissioner of Incometax, Central Circle-1, Raipur

In the result, all the captioned appeals of the assessee are allowed

ITA 96/RPR/2019[2014-15]Status: DisposedITAT Raipur26 Oct 2021AY 2014-15

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 93 To 99/Rpr/2019 ("नधा"रण वष" / Assessment Years : 2011-12 To 2017-18) M/S. Parthivi Constructions Asst. Commissioner Of बनाम/ Pvt. Ltd. Income Tax Vs. Parthivi Pacific, 3Rd Floor, Central Circle-1, Raipur Commercial Complex, Near (C.G.) Axis Bank, G.E. Road, Raipur (C.G.) "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccp4406G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri R. B. Doshi, C.A. अपीलाथ" ओर से /Appellant By : Shri R. K. Singh, Cit.Dr ""यथ" क" ओर से/Respondent By : 09/08/2021 सुनवाई क" तार"ख / Date Of Hearing 26/10/2021 घोषणा क" तार"ख /Date Of Pronouncement

For Appellant: Shri R. K. Singh, CIT.DRFor Respondent: 09/08/2021
Section 132Section 143(3)Section 153A

…sales/receipts for the purposes of making additions in several other decisions viz; CIT vs. S.C. Kothari (1971) 82 ITR 794 (SC); CIT vs. G.S. Juneja (2008) 302 ITR 63 (Guj); CIT vs. Babulal K. Daga (2016) 387 ITR 114 (Guj); CIT vs. Balchand Ajit Kumar (2003) 263 ITR 610 (MP); Anil Kumar Bajaj vs. DCIT in ITA No.4392/Del/2014; Hariram Brambhani Vs. ACIT in ITA No.5067/Mum/2010; Man Mohan Sadani Vs. CIT (2008) 304 ITR 52 etc…. In these decisions, it has been held that only profit can be taxed and not the entire receipts. 6.3 Having considered the facts of the case and the consistent position of law echoed by the…

Parthavi Construction Private Limited, Raipur vs. Assistat Commissioner of Incometax, Central Circle-1, Raipur

In the result, all the captioned appeals of the assessee are allowed

ITA 95/RPR/2019[2013-14]Status: DisposedITAT Raipur26 Oct 2021AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 93 To 99/Rpr/2019 ("नधा"रण वष" / Assessment Years : 2011-12 To 2017-18) M/S. Parthivi Constructions Asst. Commissioner Of बनाम/ Pvt. Ltd. Income Tax Vs. Parthivi Pacific, 3Rd Floor, Central Circle-1, Raipur Commercial Complex, Near (C.G.) Axis Bank, G.E. Road, Raipur (C.G.) "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccp4406G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri R. B. Doshi, C.A. अपीलाथ" ओर से /Appellant By : Shri R. K. Singh, Cit.Dr ""यथ" क" ओर से/Respondent By : 09/08/2021 सुनवाई क" तार"ख / Date Of Hearing 26/10/2021 घोषणा क" तार"ख /Date Of Pronouncement

For Appellant: Shri R. K. Singh, CIT.DRFor Respondent: 09/08/2021
Section 132Section 143(3)Section 153A

…sales/receipts for the purposes of making additions in several other decisions viz; CIT vs. S.C. Kothari (1971) 82 ITR 794 (SC); CIT vs. G.S. Juneja (2008) 302 ITR 63 (Guj); CIT vs. Babulal K. Daga (2016) 387 ITR 114 (Guj); CIT vs. Balchand Ajit Kumar (2003) 263 ITR 610 (MP); Anil Kumar Bajaj vs. DCIT in ITA No.4392/Del/2014; Hariram Brambhani Vs. ACIT in ITA No.5067/Mum/2010; Man Mohan Sadani Vs. CIT (2008) 304 ITR 52 etc…. In these decisions, it has been held that only profit can be taxed and not the entire receipts. 6.3 Having considered the facts of the case and the consistent position of law echoed by the…

Parthavi Construction Private Limited, Raipur vs. Assistat Commissioner of Incometax, Central Circle-1, Raipur

In the result, all the captioned appeals of the assessee are allowed

ITA 94/RPR/2019[2012-13]Status: DisposedITAT Raipur26 Oct 2021AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 93 To 99/Rpr/2019 ("नधा"रण वष" / Assessment Years : 2011-12 To 2017-18) M/S. Parthivi Constructions Asst. Commissioner Of बनाम/ Pvt. Ltd. Income Tax Vs. Parthivi Pacific, 3Rd Floor, Central Circle-1, Raipur Commercial Complex, Near (C.G.) Axis Bank, G.E. Road, Raipur (C.G.) "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccp4406G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri R. B. Doshi, C.A. अपीलाथ" ओर से /Appellant By : Shri R. K. Singh, Cit.Dr ""यथ" क" ओर से/Respondent By : 09/08/2021 सुनवाई क" तार"ख / Date Of Hearing 26/10/2021 घोषणा क" तार"ख /Date Of Pronouncement

For Appellant: Shri R. K. Singh, CIT.DRFor Respondent: 09/08/2021
Section 132Section 143(3)Section 153A

…sales/receipts for the purposes of making additions in several other decisions viz; CIT vs. S.C. Kothari (1971) 82 ITR 794 (SC); CIT vs. G.S. Juneja (2008) 302 ITR 63 (Guj); CIT vs. Babulal K. Daga (2016) 387 ITR 114 (Guj); CIT vs. Balchand Ajit Kumar (2003) 263 ITR 610 (MP); Anil Kumar Bajaj vs. DCIT in ITA No.4392/Del/2014; Hariram Brambhani Vs. ACIT in ITA No.5067/Mum/2010; Man Mohan Sadani Vs. CIT (2008) 304 ITR 52 etc…. In these decisions, it has been held that only profit can be taxed and not the entire receipts. 6.3 Having considered the facts of the case and the consistent position of law echoed by the…

Parthavi Construction Private Limited, Raipur vs. Assistat Commissioner of Incometax, Central Circle-1, Raipur

In the result, all the captioned appeals of the assessee are allowed

ITA 93/RPR/2019[2011-12]Status: DisposedITAT Raipur26 Oct 2021AY 2011-12

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 93 To 99/Rpr/2019 ("नधा"रण वष" / Assessment Years : 2011-12 To 2017-18) M/S. Parthivi Constructions Asst. Commissioner Of बनाम/ Pvt. Ltd. Income Tax Vs. Parthivi Pacific, 3Rd Floor, Central Circle-1, Raipur Commercial Complex, Near (C.G.) Axis Bank, G.E. Road, Raipur (C.G.) "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccp4406G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri R. B. Doshi, C.A. अपीलाथ" ओर से /Appellant By : Shri R. K. Singh, Cit.Dr ""यथ" क" ओर से/Respondent By : 09/08/2021 सुनवाई क" तार"ख / Date Of Hearing 26/10/2021 घोषणा क" तार"ख /Date Of Pronouncement

For Appellant: Shri R. K. Singh, CIT.DRFor Respondent: 09/08/2021
Section 132Section 143(3)Section 153A

…sales/receipts for the purposes of making additions in several other decisions viz; CIT vs. S.C. Kothari (1971) 82 ITR 794 (SC); CIT vs. G.S. Juneja (2008) 302 ITR 63 (Guj); CIT vs. Babulal K. Daga (2016) 387 ITR 114 (Guj); CIT vs. Balchand Ajit Kumar (2003) 263 ITR 610 (MP); Anil Kumar Bajaj vs. DCIT in ITA No.4392/Del/2014; Hariram Brambhani Vs. ACIT in ITA No.5067/Mum/2010; Man Mohan Sadani Vs. CIT (2008) 304 ITR 52 etc…. In these decisions, it has been held that only profit can be taxed and not the entire receipts. 6.3 Having considered the facts of the case and the consistent position of law echoed by the…

Dhani Ram, New Delhi vs. ITO, Ward-38(2), New Delhi

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

ITA 2817/DEL/2019[2009-10]Status: DisposedITAT Delhi07 Oct 2021AY 2009-10

Bench: Shri R.K. Panda

For Appellant: Shri Kapil Goel, AdvocateFor Respondent: Shri R.K. Gupta, Sr. D.R
Section 142(1)Section 143(2)

…l./2019 Shri Dhani Ram, Delhi.  Hon’ble Calcutta High Court in the case of PCIT vs., Subarna Rice Mill reported in (2018) 96 taxmann.com 286.  Reliance is further placed on the decision of the Hon'ble Madhya Pradesh High Court in CIT v. Balchand Ajit Kumar 263 ITR 610 (MP), wherein it was held that the total sale could not be regarded as profit of the assessee.” 4.2. He accordingly submitted that only some profit should be estimated of such unaccounted receipts and the entire amount cannot be added to the total income of the assessee as unexplained cash credit under section 68 of the I.T. Act, 1961. He also r…

ACIT (Central) 1 Indore, Indore vs. Shri Kantilal Kataria, Ratlam

ITA 886/IND/2018[2012-13]Status: DisposedITAT Indore02 Aug 2021AY 2012-13

Bench: Rajpal Yadav Hon'Ble & Shri Manish Borad

…1st April. It is submitted that the first date falls in the financial year 2010-11 whereas the second date falls in the financial year 2011-12. 2 Entire suppressed sales cannot be 115 to 117 CIT vs. Balchand Ajit Kumar regarded as income. [Copy of the (2003) 263 ITR 610 (MP) Judgment of the Hon’ble MP High Court] 3 Seized diaries were not complete - Unaccounted Sales of set of record of transactions of Rs.9,41,47,310/- and purchases and sales of scrap and Unaccounted Purchases of granules. All transactions of Rs.1,10,57,932/- found in diaries. unaccounted sales were found in Net Profit of Rs.8,30,89,378/- diari…

JCIT OSD (Central)-1, Ratlam vs. Shri Kantilal Kataria, Ratlam

ITA 259/IND/2018[11-12]Status: DisposedITAT Indore02 Aug 2021

Bench: Rajpal Yadav Hon'Ble & Shri Manish Borad

…1st April. It is submitted that the first date falls in the financial year 2010-11 whereas the second date falls in the financial year 2011-12. 2 Entire suppressed sales cannot be 115 to 117 CIT vs. Balchand Ajit Kumar regarded as income. [Copy of the (2003) 263 ITR 610 (MP) Judgment of the Hon’ble MP High Court] 3 Seized diaries were not complete - Unaccounted Sales of set of record of transactions of Rs.9,41,47,310/- and purchases and sales of scrap and Unaccounted Purchases of granules. All transactions of Rs.1,10,57,932/- found in diaries. unaccounted sales were found in Net Profit of Rs.8,30,89,378/- diari…

ACIT, Central Circle-3, Jaipur vs. M/S. Lakhi Gems, Jaipur

In the result, ground of appeal taken by the Revenue as well as that of the assessee is hereby dismissed

ITA 1306/JPR/2019[2009-10]Status: DisposedITAT Jaipur22 Jun 2021AY 2009-10
For Appellant: Sh. P. C. Parwal (CA)For Respondent: Sh. B. K. Gupta (CIT) fu/kZkfjrh dh vksj ls@
Section 143(3)Section 145(3)Section 147

…case the unrecorded sales itself can’t be considered as income. At the most, the gross profit on such sales can be considered as income. For this reliance is placed on the following cases:- • Mohan Sadhani Vs. CIT 304 ITR 52 (MP) • CIT Vs. Balchand Ajit Kumar 263 ITR 610 (MP) • CIT Vs. President Industries 258 ITR 654 (Guj) 31. It was further submitted that in course of search, the stock found was valued at Rs. 23,69,75,523/-. After considering the book stock of M/s Bihari Lal Holaram and of the assessee firm at Rs. 18,98,37,741/-, the excess stock was determined at Rs. 4,69,37,782/-. This excess stock was offer…

Param Dairy Ltd., New Delhi vs. ACIT, Central Circle- 14, New Delhi

In the result, for both the years, the appeal of the assessee is partly allowed

ITA 3994/DEL/2019[2014-15]Status: DisposedITAT Delhi03 Dec 2020AY 2014-15

Bench: Shri Amit Shukla & Shri O.P. Kant

For Appellant: Shri Ajay Vohra, Sr. Adv., Shri RohitFor Respondent: Smt. Sushma Singh, CIT-DR
Section 132Section 143(3)Section 153ASection 153DSection 234BSection 40A(3)Section 69C

…made, then, the addition should have been restricted to the profit element. Reliance was placed on various decisions including CIT vs. President Industries: 258 ITR 654 (Guj.), CIT v. Gurubachan Singh J. Juneja: 302 ITR 63 (Guj.), CIT v. Balchand Ajit Kumar: 263 ITR 610 (MP), Man Mohan Sadani v. CIT: 304 ITR 52 (MP), CIT v. S.M. Omer.: 201 ITR 608 (Cal) and host of other decisions. 64. The Ld. DR vehemently supported the orders of the lower authorities and contended that in the absence of any explanation, the AO has rightly made addition of unaccounted sales. 65. After considering the aforesaid submission and…

Param Dairy Ltd., New Delhi vs. ACIT, Central Circle- 14, New Delhi

In the result, for both the years, the appeal of the assessee is partly allowed

ITA 3993/DEL/2019[2013-14]Status: DisposedITAT Delhi03 Dec 2020AY 2013-14

Bench: Shri Amit Shukla & Shri O.P. Kant

For Appellant: Shri Ajay Vohra, Sr. Adv., Shri RohitFor Respondent: Smt. Sushma Singh, CIT-DR
Section 132Section 143(3)Section 153ASection 153DSection 234BSection 40A(3)Section 69C

…made, then, the addition should have been restricted to the profit element. Reliance was placed on various decisions including CIT vs. President Industries: 258 ITR 654 (Guj.), CIT v. Gurubachan Singh J. Juneja: 302 ITR 63 (Guj.), CIT v. Balchand Ajit Kumar: 263 ITR 610 (MP), Man Mohan Sadani v. CIT: 304 ITR 52 (MP), CIT v. S.M. Omer.: 201 ITR 608 (Cal) and host of other decisions. 64. The Ld. DR vehemently supported the orders of the lower authorities and contended that in the absence of any explanation, the AO has rightly made addition of unaccounted sales. 65. After considering the aforesaid submission and…

The ITO, Sendhwa vs. Shri Dwarka Prasad Tayal, Sendhwa

In the result appeal of the assessee ITA No

ITA 334/IND/2018[11-12]Status: DisposedITAT Indore13 Oct 2020

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2011-12

Section 142(1)(ii)Section 143(1)Section 143(2)Section 143(3)Section 80C

…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 2011-12 Shri Dwarka Prasad Tayal, 4, Jawahar Ganj, Sendhwa (M.P) PAN : AAOPT4070B : Appellant V/s Income Tax Officer Sendhwa (M.P) : Respondent Assessment Year 2011-12 Income Tax Officer Sendhwa (M.P) : Revenue V/s Shri Dwarka Prasad Tayal, 4, Jawahar Ganj, Sendhwa (M.P) PAN : AAOPT4070B : Respondent Revenue by Smt. Ashima Gupta Assessee by Shri S.N. Agrawal, CA Date of Hearing 09.09.2020 Date of Pronounceme…

Shri Dwarka Prasad Tayal, Sendhwa vs. The ITO, Khargon

In the result appeal of the assessee ITA No

ITA 284/IND/2018[2011-12]Status: DisposedITAT Indore13 Oct 2020AY 2011-12

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2011-12

Section 142(1)(ii)Section 143(1)Section 143(2)Section 143(3)Section 80C

…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 2011-12 Shri Dwarka Prasad Tayal, 4, Jawahar Ganj, Sendhwa (M.P) PAN : AAOPT4070B : Appellant V/s Income Tax Officer Sendhwa (M.P) : Respondent Assessment Year 2011-12 Income Tax Officer Sendhwa (M.P) : Revenue V/s Shri Dwarka Prasad Tayal, 4, Jawahar Ganj, Sendhwa (M.P) PAN : AAOPT4070B : Respondent Revenue by Smt. Ashima Gupta Assessee by Shri S.N. Agrawal, CA Date of Hearing 09.09.2020 Date of Pronounceme…

Deputy Commissioner of Income Tax, Pune vs. M/S. Ramelex Private Ltd, Pune

In the result, the appeal of Revenue is dismissed

ITA 1157/PUN/2017[2009-10]Status: DisposedITAT Pune24 Sept 2020AY 2009-10

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Alok Malviya

…आयकर अपीऱीय अधिकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपीऱ सं. / ITA No.1157/PUN/2017 नििाारण वषा / Assessment Year : 2009-10 The Dy. Commissioner of Income Tax, Circle - 5, Pune .......अऩीऱाथी / Appellant बिाम / V/s. M/s. Ramelex Private Ltd., S. No. 282, Sr. No. 81/2, Dangat Industrial Estate, NDA Road, Shivane, Pune – 411023 PAN : AACCR4612E ……प्रत्यथी / Respondent Assessee by : Shri Kishor Phadke Revenue by : Shri Alok Malviya सुनवाई की तारीख / Date of Hearing : 15-09-2…

ACIT Khandwa, Khandwa vs. M.S, Sitaram Agrawal, Kasrawad

In the result appeal of the revenue stands dismissed

ITA 925/IND/2018[2014-15]Status: DisposedITAT Indore20 Aug 2020AY 2014-15

Bench: Shri Kul Bharat & Shri Manish Boradassessment Years: 2014-15 Assistant Commissioner Of M/S. Sitaram Agrawal, Income Tax, Vs. Prop. M/S Smo Khandwa Industries, Indore Road, Kasrawad, Dist. Khargone (M.P) (Revenue ) (Appellant) Pan No.Aazpa9277E Appellant By S/Shri S.N. Agrawal & Pankaj Mourya, Ars Revenue By Shri R.P. Mourya, Sr. Dr Date Of Hearing 29.07.2020 Date Of Pronouncement 20.08.2020 O R D E R

Section 143(2)Section 143(3)Section 145(3)

…ge of Net Profit calculated comes to 0.31 % to 0.70%. 2.6] That in the following decisions it was held that only net profit can be taxed as income of the assessee, for this preposition we reply on the following direct decisions:- 1 CIT vs BalchandAjit Kumar 263 ITR 610 [MP] 2 DCIT vs Himmatmal Fafaria 009 ITJ 475 [Indore ] 2.7] That as per available decisions including that of jurisdictional high court, only net profit is taxable on the amount of unrecorded sales which in case of trading firms varies between 0.31% to 0.70%. However, while calculating the income on the amount of unrecorded turnover the assessee…

Deputy Commissioner of Income Tax, Central Circle- 1, Mangaluru vs. Mr. Mohammed Safwan, Mangaluru

In the result, the appeal of the assessee in the case of Mr

ITA 88/BANG/2020[2014-15]Status: DisposedITAT Bangalore14 Aug 2020AY 2014-15

Bench: Shri A. K. Garodia & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Ms Neera Malhotra, CIT DR
Section 153ASection 34

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA No.62 to 66/Bang/2020 Assessment years : 2012-13 to 2016 – 17 Mr. M. A. Siddique, Door No. 17 – 23 – 1625 – 2, DCIT, Central Circle – 1, Supreme Cottage, D’Silva Lane, Vs. Mangaluru High Land, Falnir, Mangaluru – 575002. PAN : AKWPS8837R APPELLANT RESPONDENT ITA No.67 & 68/Bang/2020 Assessment years : 2015-16 to 2016 – 17 Mr. Mohammed Safwan, S/o M. A. Siddique, DCIT, Central Circle – 1, Door No. 17 – 23 – 1625 – 2, Vs. Mangaluru Supreme Cottage, D’Silva Lane, High Lan…

Mr. Mohammed Safwan, Mangaluru vs. The Deputy Commissioner of Income Tax, Central Circle- 1, Mangaluru

In the result, the appeal of the assessee in the case of Mr

ITA 68/BANG/2020[2016-17]Status: DisposedITAT Bangalore14 Aug 2020AY 2016-17

Bench: Shri A. K. Garodia & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Ms Neera Malhotra, CIT DR
Section 153ASection 34

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA No.62 to 66/Bang/2020 Assessment years : 2012-13 to 2016 – 17 Mr. M. A. Siddique, Door No. 17 – 23 – 1625 – 2, DCIT, Central Circle – 1, Supreme Cottage, D’Silva Lane, Vs. Mangaluru High Land, Falnir, Mangaluru – 575002. PAN : AKWPS8837R APPELLANT RESPONDENT ITA No.67 & 68/Bang/2020 Assessment years : 2015-16 to 2016 – 17 Mr. Mohammed Safwan, S/o M. A. Siddique, DCIT, Central Circle – 1, Door No. 17 – 23 – 1625 – 2, Vs. Mangaluru Supreme Cottage, D’Silva Lane, High Lan…

Deputy Commissioner of Income Tax, Central Circle- 1, Mangaluru vs. Mr. Mohammed Safwan, Mangaluru

In the result, the appeal of the assessee in the case of Mr

ITA 89/BANG/2020[2015-16]Status: DisposedITAT Bangalore14 Aug 2020AY 2015-16

Bench: Shri A. K. Garodia & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Ms Neera Malhotra, CIT DR
Section 153ASection 34

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA No.62 to 66/Bang/2020 Assessment years : 2012-13 to 2016 – 17 Mr. M. A. Siddique, Door No. 17 – 23 – 1625 – 2, DCIT, Central Circle – 1, Supreme Cottage, D’Silva Lane, Vs. Mangaluru High Land, Falnir, Mangaluru – 575002. PAN : AKWPS8837R APPELLANT RESPONDENT ITA No.67 & 68/Bang/2020 Assessment years : 2015-16 to 2016 – 17 Mr. Mohammed Safwan, S/o M. A. Siddique, DCIT, Central Circle – 1, Door No. 17 – 23 – 1625 – 2, Vs. Mangaluru Supreme Cottage, D’Silva Lane, High Lan…

Mr. Mohammed Safwan, Mangaluru vs. The Deputy Commissioner of Income Tax, Central Circle- 1, Mangaluru

In the result, the appeal of the assessee in the case of Mr

ITA 67/BANG/2020[2015-16]Status: DisposedITAT Bangalore14 Aug 2020AY 2015-16

Bench: Shri A. K. Garodia & Smt. Beena Pillai

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Ms Neera Malhotra, CIT DR
Section 153ASection 34

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA No.62 to 66/Bang/2020 Assessment years : 2012-13 to 2016 – 17 Mr. M. A. Siddique, Door No. 17 – 23 – 1625 – 2, DCIT, Central Circle – 1, Supreme Cottage, D’Silva Lane, Vs. Mangaluru High Land, Falnir, Mangaluru – 575002. PAN : AKWPS8837R APPELLANT RESPONDENT ITA No.67 & 68/Bang/2020 Assessment years : 2015-16 to 2016 – 17 Mr. Mohammed Safwan, S/o M. A. Siddique, DCIT, Central Circle – 1, Door No. 17 – 23 – 1625 – 2, Vs. Mangaluru Supreme Cottage, D’Silva Lane, High Lan…