CIT v. Banjara 44. Developers & Constructions (P.) Ltd.

117 Taxmann.com 747High Court2020#4937 most cited

What is CIT v. Banjara 44. Developers & Constructions (P.) Ltd. authority for?

An assessee engaged in construction of flats, consistently following the project completion method of accounting, can continue to use this method if it has been accepted by revenue authorities in the past, and the Assessing Officer cannot unilaterally change it to an estimation basis.

24

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2013 to 2025.

Also referred to as

CIT v. Banjara Developers & Constructions P. Ltd. · project completion method · completed contract method · section 145 · method of accounting · revenue recognition · assessment year · Assessing Officer

Sections most often in play

Section 143(3)Section 132Section 144Section 145Section 153ASection 153B(1)(b)Section 153DSection 250
Read the full judgment

Issues it is cited on

section 23aretention moneysection 145(1)section 28(iv)project completion methodsection 211section 115baapercentage completion methodsection 145(2)section 43csection 35dsection 53a

Judgments citing CIT v. Banjara 44. Developers & Constructions (P.) Ltd.

DCIT, Circle-7(1), Delhi vs. Dlf Limited, Delhi

In the result, appeal of the Revenue is dismissed

ITA 715/DEL/2024[2021-22]Status: DisposedITAT Delhi30 Oct 2025AY 2021-22

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

DCIT, Circle-7(1), Delhi vs. Dlf Limited, Delhi

In the result, appeal of the Revenue is dismissed

ITA 714/DEL/2024[2020-21]Status: DisposedITAT Delhi30 Oct 2025AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

DCIT, Circle-7(1), Delhi vs. Dlf Limited, Delhi

In the result, appeal of the Revenue is dismissed

ITA 713/DEL/2024[2019-20]Status: DisposedITAT Delhi30 Oct 2025AY 2019-20

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

Dlf Limited, Delhi vs. National Faceless Assessment Centre, Delhi

In the result, appeal of the Revenue is dismissed

ITA 677/DEL/2024[2021-22]Status: DisposedITAT Delhi30 Oct 2025AY 2021-22

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

Dlf Limited, Delhi vs. National Faceless Assessment Centre, Delhi

In the result, appeal of the Revenue is dismissed

ITA 676/DEL/2024[2020-21]Status: DisposedITAT Delhi30 Oct 2025AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

Lodha Foundation, Jaipur vs. CIT(Exemption), Jaipur

In the result, appeal of the Revenue is dismissed

ITA 12/JPR/2025[2025-26]Status: DisposedITAT Jaipur21 Feb 2025AY 2025-26

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalm/S. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 Pan No.: Aabck 7751L ...... Appellant Vs. Acit, Central Circle, Kota ...... Respondent Acit, Circle-2, Kota ...... Appellant Vs. M/S. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 Pan No.: Aabck7751L ...... Respondent

For Appellant: Mr. Mahendra Gargieya, Adv. &For Respondent: Ms. Alka Gautam, CIT-DR, Ld. DR
Section 132Section 143(3)Section 153ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH “B”, JAIPUR BEFORE Dr. S. SEETHALAKSHMI, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER M/s. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 PAN No.: AABCK 7751L ...... Appellant Vs. ACIT, Central Circle, Kota ...... Respondent ACIT, Circle-2, Kota ...... Appellant Vs. M/s. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 PAN No.: AABCK7751L ...... Respondent Appellant by : Mr. Mahendra Gargieya, Adv. & Mr. Hemang Gargieya, Adv., Ld. ARs Respondent by : Ms. Alka Gautam, CIT-D…

Lodha Foundation, Jaipur vs. CIT (Exemption), Jaipur

In the result, appeal of the Revenue is dismissed

ITA 11/JPR/2025[2025-26]Status: DisposedITAT Jaipur21 Feb 2025AY 2025-26

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalm/S. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 Pan No.: Aabck 7751L ...... Appellant Vs. Acit, Central Circle, Kota ...... Respondent Acit, Circle-2, Kota ...... Appellant Vs. M/S. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 Pan No.: Aabck7751L ...... Respondent

For Appellant: Mr. Mahendra Gargieya, Adv. &For Respondent: Ms. Alka Gautam, CIT-DR, Ld. DR
Section 132Section 143(3)Section 153ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH “B”, JAIPUR BEFORE Dr. S. SEETHALAKSHMI, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER M/s. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 PAN No.: AABCK 7751L ...... Appellant Vs. ACIT, Central Circle, Kota ...... Respondent ACIT, Circle-2, Kota ...... Appellant Vs. M/s. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 PAN No.: AABCK7751L ...... Respondent Appellant by : Mr. Mahendra Gargieya, Adv. & Mr. Hemang Gargieya, Adv., Ld. ARs Respondent by : Ms. Alka Gautam, CIT-D…

Assistant Commissioner of Income Tax, Circle-2, Kota vs. Kaizen Enterprises Pvt. Ltd., Kota

In the result, appeal of the Revenue is dismissed

ITA 390/JPR/2024[2017-18]Status: DisposedITAT Jaipur18 Feb 2025AY 2017-18

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalm/S. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 Pan No.: Aabck 7751L ...... Appellant Vs. Acit, Central Circle, Kota ...... Respondent Acit, Circle-2, Kota ...... Appellant Vs. M/S. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 Pan No.: Aabck7751L ...... Respondent

For Appellant: Mr. Mahendra Gargieya, Adv. &For Respondent: Ms. Alka Gautam, CIT-DR, Ld. DR
Section 132Section 143(3)Section 153ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH “B”, JAIPUR BEFORE Dr. S. SEETHALAKSHMI, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER M/s. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 PAN No.: AABCK 7751L ...... Appellant Vs. ACIT, Central Circle, Kota ...... Respondent ACIT, Circle-2, Kota ...... Appellant Vs. M/s. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 PAN No.: AABCK7751L ...... Respondent Appellant by : Mr. Mahendra Gargieya, Adv. & Mr. Hemang Gargieya, Adv., Ld. ARs Respondent by : Ms. Alka Gautam, CIT-D…

Kaizen Entreprises Pvt. Ltd., Kota vs. ACIT-DCIT, Central Circle, Kota

In the result, appeal of the Revenue is dismissed

ITA 156/JPR/2024[2013-14]Status: DisposedITAT Jaipur18 Feb 2025AY 2013-14

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalm/S. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 Pan No.: Aabck 7751L ...... Appellant Vs. Acit, Central Circle, Kota ...... Respondent Acit, Circle-2, Kota ...... Appellant Vs. M/S. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 Pan No.: Aabck7751L ...... Respondent

For Appellant: Mr. Mahendra Gargieya, Adv. &For Respondent: Ms. Alka Gautam, CIT-DR, Ld. DR
Section 132Section 143(3)Section 153ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH “B”, JAIPUR BEFORE Dr. S. SEETHALAKSHMI, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER M/s. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 PAN No.: AABCK 7751L ...... Appellant Vs. ACIT, Central Circle, Kota ...... Respondent ACIT, Circle-2, Kota ...... Appellant Vs. M/s. Kaizen Enterprises Pvt. Ltd., Opera Hospital Road, S-67-68, Indra Vihar, Kota- 324005 PAN No.: AABCK7751L ...... Respondent Appellant by : Mr. Mahendra Gargieya, Adv. & Mr. Hemang Gargieya, Adv., Ld. ARs Respondent by : Ms. Alka Gautam, CIT-D…

DCIT, New Delhi vs. M/S. Sahara India Power Corporation Ltd., Pune

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 5067/DEL/2013[2005-06]Status: PendingITAT Delhi28 Apr 2023AY 2005-06

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune reject the accounts under s. 145(3) on the ground that the assessee had not followed the percentage completion method.” 54. In the case of CIT Vs. Banjara Developers & Constructions P. Ltd. 425 ITR 673 (Karn.) wherein held that: “7. We have considered the submissions made on both the sides and have perused the record. Section 145 of the Act deals with method of accounting. Section 145(1) provides that income chargeable under the head 'profits and gains of business or profession' or 'income from other sources' shall subject to provisions of sub…

Sahara India Power Corporation Ltd, Pune vs. DCIT, New Delhi

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 1155/DEL/2009[2004-05]Status: DisposedITAT Delhi28 Apr 2023AY 2004-05

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune reject the accounts under s. 145(3) on the ground that the assessee had not followed the percentage completion method.” 54. In the case of CIT Vs. Banjara Developers & Constructions P. Ltd. 425 ITR 673 (Karn.) wherein held that: “7. We have considered the submissions made on both the sides and have perused the record. Section 145 of the Act deals with method of accounting. Section 145(1) provides that income chargeable under the head 'profits and gains of business or profession' or 'income from other sources' shall subject to provisions of sub…

Sahara India Power Corporation Ltd., Pune vs. Assistant Commissioner of Income-Tax

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 109/PUN/2007[2003-04]Status: DisposedITAT Delhi28 Apr 2023AY 2003-04

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune reject the accounts under s. 145(3) on the ground that the assessee had not followed the percentage completion method.” 54. In the case of CIT Vs. Banjara Developers & Constructions P. Ltd. 425 ITR 673 (Karn.) wherein held that: “7. We have considered the submissions made on both the sides and have perused the record. Section 145 of the Act deals with method of accounting. Section 145(1) provides that income chargeable under the head 'profits and gains of business or profession' or 'income from other sources' shall subject to provisions of sub…

M/S. Corporate Leisure & Property Development Pvt. Ltd., Bengaluru vs. DCIT, Central Circle-2(1)(1), Bengaluru

In the result, the appeal fails and is hereby dismissed

ITA 1053/BANG/2022[2013-14]Status: DisposedITAT Bangalore27 Feb 2023AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Prashanth G.S., A.RFor Respondent: Shri Sankarganesh K., D.R

…ted merely because there exists an alternate method of accounting as per which profit can be determined each year. Reliance is placed on the decision of the Jurisdictional High Court in the case of CIT v. Banjara Developers & Constructions P, Ltd. reported in 425 ITR 673. Reliance is further placed on the decisions of various courts in the following cases in support of the contention of the assessee: • CIT vs. Prestige Estate Projects Pvt Ltd, 440 ITR 343 (Kar) • CIT vs. Varun Developers, 440 ITR 354 (Kar) • CIT vs. S. N. Builders & Developers. 431 ITR 241 (Kar) • DCIT vs. Esteem Classic, ITA No.842 of 2018 dated…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 109/BANG/2022[2018-19]Status: DisposedITAT Bangalore14 Nov 2022AY 2018-19

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…ssessee which is the project completion method of recognizing revenue is permitted in law and can be followed. The decisions of the Hon'ble Court High Court of Karnataka on this issue are as under - CIT v. Banjara Developers & Constructions P. i) Ltd. (2020) 425 ITR 673 (Kar.) ii) CIT v. Prestige Estate Projects P. Ltd. (2020) 116 taxmann.com 554 (Kar.) ITA Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore Page 58 of 115 iii) CIT v. S.N.Builders & Developers (2021) 431 ITR 241 (Kar.) iv) ACIT v. S.N. Builders & Developers in ITA No.739 of 2018 dt. 20.01.2021 (Kar.) v) DCIT…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 108/BANG/2022[2017-18]Status: DisposedITAT Bangalore14 Nov 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…ssessee which is the project completion method of recognizing revenue is permitted in law and can be followed. The decisions of the Hon'ble Court High Court of Karnataka on this issue are as under - CIT v. Banjara Developers & Constructions P. i) Ltd. (2020) 425 ITR 673 (Kar.) ii) CIT v. Prestige Estate Projects P. Ltd. (2020) 116 taxmann.com 554 (Kar.) ITA Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore Page 58 of 115 iii) CIT v. S.N.Builders & Developers (2021) 431 ITR 241 (Kar.) iv) ACIT v. S.N. Builders & Developers in ITA No.739 of 2018 dt. 20.01.2021 (Kar.) v) DCIT…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 107/BANG/2022[2016-17]Status: DisposedITAT Bangalore14 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…ssessee which is the project completion method of recognizing revenue is permitted in law and can be followed. The decisions of the Hon'ble Court High Court of Karnataka on this issue are as under - CIT v. Banjara Developers & Constructions P. i) Ltd. (2020) 425 ITR 673 (Kar.) ii) CIT v. Prestige Estate Projects P. Ltd. (2020) 116 taxmann.com 554 (Kar.) ITA Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore Page 58 of 115 iii) CIT v. S.N.Builders & Developers (2021) 431 ITR 241 (Kar.) iv) ACIT v. S.N. Builders & Developers in ITA No.739 of 2018 dt. 20.01.2021 (Kar.) v) DCIT…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 544/BANG/2021[2016-17]Status: DisposedITAT Bangalore07 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…ssessee which is the project completion method of recognizing revenue is permitted in law and can be followed. The decisions of the Hon'ble Court High Court of Karnataka on this issue are as under - CIT v. Banjara Developers & Constructions P. i) Ltd. (2020) 425 ITR 673 (Kar.) ii) CIT v. Prestige Estate Projects P. Ltd. (2020) 116 taxmann.com 554 (Kar.) iii) CIT v. S.N.Builders & Developers (2021) 431 ITR 241 (Kar.) iv) ACIT v. S.N. Builders & Developers in ITA No.739 of 2018 dt. 20.01.2021 (Kar.) v) DCIT v. Varun Developers in ITA No.198 of 2014 dt. 08.02.2021 (Kar.) DCIT v. Esteem Classic in ITA No.842 of 2018…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 543/BANG/2021[2015-16]Status: DisposedITAT Bangalore07 Nov 2022AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…ssessee which is the project completion method of recognizing revenue is permitted in law and can be followed. The decisions of the Hon'ble Court High Court of Karnataka on this issue are as under - CIT v. Banjara Developers & Constructions P. i) Ltd. (2020) 425 ITR 673 (Kar.) ii) CIT v. Prestige Estate Projects P. Ltd. (2020) 116 taxmann.com 554 (Kar.) iii) CIT v. S.N.Builders & Developers (2021) 431 ITR 241 (Kar.) iv) ACIT v. S.N. Builders & Developers in ITA No.739 of 2018 dt. 20.01.2021 (Kar.) v) DCIT v. Varun Developers in ITA No.198 of 2014 dt. 08.02.2021 (Kar.) DCIT v. Esteem Classic in ITA No.842 of 2018…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 542/BANG/2021[2014-15]Status: DisposedITAT Bangalore07 Nov 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…ssessee which is the project completion method of recognizing revenue is permitted in law and can be followed. The decisions of the Hon'ble Court High Court of Karnataka on this issue are as under - CIT v. Banjara Developers & Constructions P. i) Ltd. (2020) 425 ITR 673 (Kar.) ii) CIT v. Prestige Estate Projects P. Ltd. (2020) 116 taxmann.com 554 (Kar.) iii) CIT v. S.N.Builders & Developers (2021) 431 ITR 241 (Kar.) iv) ACIT v. S.N. Builders & Developers in ITA No.739 of 2018 dt. 20.01.2021 (Kar.) v) DCIT v. Varun Developers in ITA No.198 of 2014 dt. 08.02.2021 (Kar.) DCIT v. Esteem Classic in ITA No.842 of 2018…

Pr.Commissioner vs. M/S. Esteem Classic

In the result, the appeals preferred by the Revenue

ITA/844/2018HC Karnataka22 Mar 2021

Bench: ALOK ARADHE,M.G.S. KAMAL

Section 260Section 260A

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF MARCH 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE M.G.S. KAMAL I.T.A. NO.842 OF 2018 CONNECTED WITH I.T.A. NO.843 OF 2018 I.T.A. NO.844 OF 2018 IN I.A.No.842 OF 2018 BETWEEN: 1. Pr. Commissioner Income Tax – 6 BMTC Complex Koramangala Bangalore. 2. Deputy Commissioner of Income-Tax Central Circle – 1[4] Bengaluru. ... Appellants (By Sri. Sanmathi E.I. - Advocate) 2 AND: M/s. Esteem Classic Unit Nos.32, 33 & 34 3rd floor…