CIT v. Banwari Lal Banshidhar

229 ITR 229High Court1998#607 most cited

What is CIT v. Banwari Lal Banshidhar authority for?

When the Assessing Officer rejects the books of account and computes income by applying a net profit rate, a separate disallowance under section 40A(3) for cash payments cannot be made.

162

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Banwari Lal Banshidhar · 229 ITR 229 · section 40A(3) · section 145(3) · rejection of books of account · net profit rate · cash payments · disallowance

Sections most often in play

Section 145(3)Section 153ASection 143(3)Section 144Section 250Section 68Section 132(4)Section 40A(3)

Issues it is cited on

section 108trade creditorsonus of proofsection 145(3)rejection of books of accountsection 10bsection 40a(3)section 145section 30section 132(4a)on-moneysection 269

Judgments citing CIT v. Banwari Lal Banshidhar

Deputy Commissioner of Income Tax, Central Circel-2(2), Nagpur vs. Ajay Vishandas Kamnani, Nagpur

In the result, appeal filed by the Revenue is dismissed

ITA 88/NAG/2023[2020-21]Status: DisposedITAT Nagpur02 Sept 2024AY 2020-21

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Himesh DemleFor Respondent: Shri Kailash C. Kanojiya
Section 143(2)Section 143(3)Section 153ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.88/Nag./2023 (Assessment Year : 2020–21) Dy. Commissioner of Income Tax ……………. Appellant Central Circle–2(2), Nagpur v/s Ajay Vishandas Kamnani 3, C/o Vishandas Kamnani ……………. Respondent Nagarkhana Chowk, Mahal Nagpur 400 002 PAN – AHJPK5262J C.O. no.1/Nag./2023 (Arising out of ITA no.88/Nag./2023) (Assessment Year : 2020–21) Ajay Vishandas Kamnani 3, C/o Vishandas Kamnani ……………. Cross Objector Nagarkhana Chowk, Mahal (Original Respondent) Nagpur 400 002 PAN – AHJPK526…

ACIT, Circle-2(1)(1), Ahmedabad vs. Kunal Balmukund Agarwal, Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 637/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2017-18

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 143(3)Section 145Section 68

…ortant as it clarifies that the AO's approach I.T.A No. 637/Ahd/2023 A.Y. 2017-18 Page No 5 ACIT Vs. Kunal Balmukund Agarwal must be based on fresh estimates and not on the rejected books, ensuring a fair assessment process. D. Banwarilal Bansidhar vs. CIT [229 ITR 229 (All.)]: The Allahabad High Court ruled that once the AO rejects the books of accounts, they cannot rely on the same for making additions under different sections of the Act. The AO must base their assessment on reasonable estimates and evidence rather than the rejected books. This precedent highlights the necessity for the AO to provide clear an…

M/S. Atri Developers, Ahmedabad vs. The Dy. Commissioner of Income Tax, Circle-3(3), Ahmedabad

Appeal is dismissed

ITA 2859/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 Jul 2024AY 2013-14

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2013-14 The Dcit, Cir.3(3) M/S.Atri Developers Ahmedabad. Vs 19, Ambalal House Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D Assessment Year : 2013-14 M/S.Atri Developers The Dcit, Cir.3(3) 19, Ambalal House Vs Ahmedabad. Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D

For Appellant: Shri Mohit Balani, ARFor Respondent: Shri Prateek Sharma, Sr.DR
Section 133ASection 250

…is settled law that once the books of accounts are rejected and income is estimated, no further disallowance or addition can be made on account of receipt of on- money. Such an observation has support from following case laws (a) CIT vs. Banwarilal Bansidhar 229 ITR 229 (Raj.) ITA No.2855 and 2859/Ahd/2016 16 (b) Abhi Developers vs. ITO 12 SOT 444 (Ahd.) (c) Abhishek Corporation vs. DCIT 63 TTJ 651 (Ahd.) (d) President Industries-258 ITR 654 (Guj) (e) CIT v. Balchand Ajit Kumar-263 ITR 610 (MP) (f) Man Mohan Sadani v. CIT-304 ITR 52 (MP) (g) Kishor Mohantal Telwala V. ACIT. 64 TTJ 543 (Ahd.) I have gone throu…

The Dy. Commissioner of Income Tax Circle-3(3), Ahmedabad vs. M/S. Atri Developers, Ahmedabad

Appeal is dismissed

ITA 2855/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 Jul 2024AY 2013-14

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2013-14 The Dcit, Cir.3(3) M/S.Atri Developers Ahmedabad. Vs 19, Ambalal House Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D Assessment Year : 2013-14 M/S.Atri Developers The Dcit, Cir.3(3) 19, Ambalal House Vs Ahmedabad. Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D

For Appellant: Shri Mohit Balani, ARFor Respondent: Shri Prateek Sharma, Sr.DR
Section 133ASection 250

…is settled law that once the books of accounts are rejected and income is estimated, no further disallowance or addition can be made on account of receipt of on- money. Such an observation has support from following case laws (a) CIT vs. Banwarilal Bansidhar 229 ITR 229 (Raj.) ITA No.2855 and 2859/Ahd/2016 16 (b) Abhi Developers vs. ITO 12 SOT 444 (Ahd.) (c) Abhishek Corporation vs. DCIT 63 TTJ 651 (Ahd.) (d) President Industries-258 ITR 654 (Guj) (e) CIT v. Balchand Ajit Kumar-263 ITR 610 (MP) (f) Man Mohan Sadani v. CIT-304 ITR 52 (MP) (g) Kishor Mohantal Telwala V. ACIT. 64 TTJ 543 (Ahd.) I have gone throu…

I.T.O. Ward -1, Amravati vs. Shri Sanjay Nanasaheb Bharsakale, Amravati

In the result, the appeal of the department is rejected

ITA 81/NAG/2018[2011-2012]Status: DisposedITAT Nagpur16 Jul 2024AY 2011-2012

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj Moriyani, AdvocateFor Respondent: Shri Abhay Y.Marathe, Sr.Dr
Section 131Section 143(1)Section 143(3)Section 148Section 250Section 269TSection 44ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA No. 81/Nag./2018 (Assessment Year : 2011-12) Income Tax Officer, ……………. Appellant Ward -1, Amravati v/s Shri Sanjay Nanasaheb Bharsakale 1, Shivaji Nagar, Banosa, ……………. Respondent Daryapur, Dist. Amravati. PAN – AHRPB8625J Assessee by : Shri Manoj Moriyani, Advocate Revenue by : Shri Abhay Y.Marathe, Sr.Dr. Date of Hearing – 09/07/2024 Date of Order – 16/07/2024 O R D E R PER K.M.ROY, A.M. The present appeal has been preferred by the department challenging the impugned…

Doaba Rolling Mills Pvt. Ltd., Muzaffarnagar vs. ACIT, Circle-1, Muzaffarnagar

In the result, the appeal of the assessee is partly allowed

ITA 4037/DEL/2017[2012-13]Status: DisposedITAT Delhi27 Jun 2024AY 2012-13

Bench: Shri Kul Bharat & Shri Brajesh Kumar Singh[Assessment Year : 2012-13] Doaba Rolling Mills Pvt.Ltd., Vs Acit, Meerut Road, Muzaffarnagar, Circle-1, Uttar Pradesh. Muzaffarnagar. Pan-Aabcd0822F Appellant Respondent Appellant By Shri Anil Kumar Jain, Adv. Respondent By Shri Vivek Kumar Upadhyay, Sr. Dr Date Of Hearing 19.06.2024 Date Of Pronouncement 27.06.2024

Section 143(1)Section 143(2)Section 143(3)Section 145(3)Section 41(1)

…assumptions.  Reasons for the low profits is given at PB 49 submissions  Further if accounts are rejected u/s 145A and profit is assumed than no other disallowance can be made as held in various judicial pronouncement s. CIT Vs. Banwari Lal Bansidhar (1998) 229 ITR 229 (AII.)  Submissions before CIT(A) Page 5 to 8 Issue 2 Addition on account of cessation and remission of liability u/s 41(1) Addition of Rs.1,53,94,462  Following confirmation of creditors has not been accepted and treated as cessation of liability u/s 41(1) S.No. Enterprise/Entity Amount/unapproved Material anomalies name liabilities 1. M/s. Sh…

Pawan Kumar Gupta, New Delhi vs. ITO, Ward- 34(4), New Delhi

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

ITA 789/DEL/2018[2013-14]Status: DisposedITAT Delhi03 May 2024AY 2013-14

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Section 136Section 143(1)Section 143(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE, SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER ITA No.789/Del/2018, A.Y. 2013-14 ITA No.788/Del/2018, A.Y. 2014-15 Pawan Kumar Gupta ITO, A-116, Ashok Vihar, Ward 34(4) Phase-III, Vs. New Delhi New Delhi PAN: AANPG2625E (Appellant) (Respondent) Assessee by Sh. Suresh Gupta, CA Respondent by Ms. Mayuri, Sr. DR Date of Hearing 22/04/2024 Date of Pronouncement 03/05/2024 ORDER PER S.RIFAUR RAHMAN, AM: This appeal has been filed by the Assessee against the order of Learned Commissioner of Income Tax (Appea…

Pawan Kumar Gupta, New Delhi vs. ITO, Ward- 34(4), New Delhi

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

ITA 788/DEL/2018[2014-15]Status: DisposedITAT Delhi03 May 2024AY 2014-15

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Section 136Section 143(1)Section 143(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE, SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER ITA No.789/Del/2018, A.Y. 2013-14 ITA No.788/Del/2018, A.Y. 2014-15 Pawan Kumar Gupta ITO, A-116, Ashok Vihar, Ward 34(4) Phase-III, Vs. New Delhi New Delhi PAN: AANPG2625E (Appellant) (Respondent) Assessee by Sh. Suresh Gupta, CA Respondent by Ms. Mayuri, Sr. DR Date of Hearing 22/04/2024 Date of Pronouncement 03/05/2024 ORDER PER S.RIFAUR RAHMAN, AM: This appeal has been filed by the Assessee against the order of Learned Commissioner of Income Tax (Appea…

Vineet Agarwal, Kolkata vs. ITO, Ward 43(1), Kolkata

In the result, the appeal of the assessee being

ITA 1003/KOL/2023[2016-17]Status: DisposedITAT Kolkata04 Mar 2024AY 2016-17

Bench: Shri Sanjay Garg & Shri Rajesh Kumar

Section 133(6)Section 143(2)Section 143(3)Section 145(3)

…ITA Nos. 1002 & 1003/KOL/2023 A.Ys. 2015-2016 & 2016-2017 Vineet Agarwal IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Sanjay Garg, Judicial Member & Shri Rajesh Kumar,Accountant Member I.T.A. Nos. 1002 & 1003/KOL/2023 Assessment Years: 2015-2016 & 2016-2017 Vineet Agarwal,.........................................Appellant C/o. Shree Shakambari Emporium, 194, Jamunalal Bajaj Street, 1st Floor, Burrabazar, Kolkata-700007 [PAN:APTPA9425R] -Vs.- Income Tax Officer,.................................Respondent Ward-43(1), Kolkata, 3, Government Place (West), Kolkata-700001 Appearances by: Shri…

Vineet Agarwal, Kolkata vs. ITO, Ward 43(1), Kolkata

In the result, the appeal of the assessee being

ITA 1002/KOL/2023[2015-16]Status: DisposedITAT Kolkata04 Mar 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Rajesh Kumar

Section 133(6)Section 143(2)Section 143(3)Section 145(3)

…ITA Nos. 1002 & 1003/KOL/2023 A.Ys. 2015-2016 & 2016-2017 Vineet Agarwal IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Sanjay Garg, Judicial Member & Shri Rajesh Kumar,Accountant Member I.T.A. Nos. 1002 & 1003/KOL/2023 Assessment Years: 2015-2016 & 2016-2017 Vineet Agarwal,.........................................Appellant C/o. Shree Shakambari Emporium, 194, Jamunalal Bajaj Street, 1st Floor, Burrabazar, Kolkata-700007 [PAN:APTPA9425R] -Vs.- Income Tax Officer,.................................Respondent Ward-43(1), Kolkata, 3, Government Place (West), Kolkata-700001 Appearances by: Shri…

DCIT, Circle-2(1), Hyderabad vs. Kmc Constructions Limited, Hyderabad

In the result, the appeal of Revenue is dismissed, and the appeal of assessee is partly allowed

ITA 32/HYD/2017[2011-12]Status: DisposedITAT Hyderabad11 Jan 2024AY 2011-12

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

For Appellant: Shri S. Rama Rao, ARFor Respondent: Shri K. Madhusudan, CIT-DR
Section 145(3)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT & SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं निर्धारण अपीलधर्थी प्रत्‍यर्थी वर्ा / A.Y. / ITA No. / Appellant / Respondent M/s. KMC Addl. Commissioner of 1734/Hyd/2016 2011-12 Constructions Limited, Income Tax, Hyderabad Range-2, [PAN No. AABCK6483B] Hyderabad Deputy Commissioner M/s. KMC Constructions 32/Hyd/2017 2011-12 of Income Tax, Limited, Circle-2(1), Hyderabad [PAN No. AABCK6483B] Hyderabad निर्धाररती द्वधरध/Assessee by: Shri S. Rama Rao, AR रधजस…

Kmc Contructions Limited, Hyderabad vs. Addl. CIT, Range-2, Hyderabad

In the result, the appeal of Revenue is dismissed, and the appeal of assessee is partly allowed

ITA 1734/HYD/2016[2011-12]Status: DisposedITAT Hyderabad11 Jan 2024AY 2011-12

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

For Appellant: Shri S. Rama Rao, ARFor Respondent: Shri K. Madhusudan, CIT-DR
Section 145(3)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT & SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं निर्धारण अपीलधर्थी प्रत्‍यर्थी वर्ा / A.Y. / ITA No. / Appellant / Respondent M/s. KMC Addl. Commissioner of 1734/Hyd/2016 2011-12 Constructions Limited, Income Tax, Hyderabad Range-2, [PAN No. AABCK6483B] Hyderabad Deputy Commissioner M/s. KMC Constructions 32/Hyd/2017 2011-12 of Income Tax, Limited, Circle-2(1), Hyderabad [PAN No. AABCK6483B] Hyderabad निर्धाररती द्वधरध/Assessee by: Shri S. Rama Rao, AR रधजस…

M/S. Shivabyay Project Pvt. Ltd., Gandhidham-Kutch vs. The Income Tax Officer, Ward-2, Gandhidham-Kutch

In the result, the appeal of the assessee is allowed

ITA 6/RJT/2018[2014-15]Status: HeardITAT Rajkot08 Nov 2023AY 2014-15

Bench: Shri Waseem Ahmed (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

For Appellant: Written SubmissionFor Respondent: Shri K.L. Solanki, Sr. D.R
Section 144Section 145(3)Section 40

…most, the benefit only to the extent ofRs. 8,80,827/- can be given out of addition ofRs. 1,00,03,012/-. As against this the counsel of the assessee pointed out that in the judgement of Hon'ble Allahabad High Court in the case of CIT vs. Banwarilal Banshidhar 229 ITR 229 held that where income is computed by applying gross profit rate, separate addition u/s 40A(3) cannot be made. Similar view is also taken by Andhra Pradesh High Court in the case of Indwell Constructions vs. CIT (1998) 232 ITR 776 and ITAT Ahmedabad Bench in the case of New Narayan Builders vs ITO (1992) 43 TTJ 508. It is pertinent to note that i…

The Income Tax Officer, Ward-2, Gandhidham-Kutch vs. M/S. Shivabyay Project Pvt. Ltd., Gandhidham-Kutch

In the result, the appeal of the assessee is allowed

ITA 37/RJT/2018[2014-15]Status: HeardITAT Rajkot08 Nov 2023AY 2014-15

Bench: Shri Waseem Ahmed (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

For Appellant: Written SubmissionFor Respondent: Shri K.L. Solanki, Sr. D.R
Section 144Section 145(3)Section 40

…most, the benefit only to the extent ofRs. 8,80,827/- can be given out of addition ofRs. 1,00,03,012/-. As against this the counsel of the assessee pointed out that in the judgement of Hon'ble Allahabad High Court in the case of CIT vs. Banwarilal Banshidhar 229 ITR 229 held that where income is computed by applying gross profit rate, separate addition u/s 40A(3) cannot be made. Similar view is also taken by Andhra Pradesh High Court in the case of Indwell Constructions vs. CIT (1998) 232 ITR 776 and ITAT Ahmedabad Bench in the case of New Narayan Builders vs ITO (1992) 43 TTJ 508. It is pertinent to note that i…

ACIT, Central Circle-2(3), Hyderabad vs. Skill Promoters, Hyderabad

ITA 688/HYD/2022[2016-17]Status: DisposedITAT Hyderabad31 Oct 2023AY 2016-17

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Assessee Revenue A.Y 628/Hyd/2022 Skill Promoters, Acit, Central Circle 2014-15 Hyderabad 2(3) Hyderabad Pan:Aayfs9165Q 686/Hyd/2022 Acit, Central Circle Skill Promoters, 2014-15 2(3) Hyderabad Hyderabad Pan:Aayfs9165Q 629/Hyd/2022 -Do- -Do- 2015-16 687/Hyd/2022 -Do- -Do- 2015-16 630/Hyd/2022 -Do- -Do- 2016-17 677/Hyd/2022 Acit, Central Circle Skill Promoters (P) 2016-17 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 688/Hyd/2022 -Do- Skill Promoters, 2016-17 Hyderabad Pan:Aayfs9165Q 622/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2016-17 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 678/Hyd/2022 -Do- -Do- 2017-18 623/Hyd/2022 -Do- -Do- 2017-18 679/Hyd/2022 -Do- -Do- 2018-19 624/Hyd/2022 -Do- -Do- 2018-19 680/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2019-20 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 625/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2019-20 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 681/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2020-21 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 626/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2020-21 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Jeevanlal Lavidiya,CIT (DR)
Section 132Section 132(4)Section 139(4)Section 143(2)Section 153ASection 269SSection 40ASection 40A(3)

…arious judicial fora in the following decisions: (i) CIT VS Smt.Santosh Jain [2007] 159 Taxmann 392 CIT VS Gobind Ram (Punjab & Haryana) (ii) CIT vs. Gobind Ram (2014) 48 taxmann.com 14/(2015) 229 (Punjab & Haryana) (iii) CIT vs. Banwari Lal Banshidhar (1998) 229 ITR 229 (All) (iv) CIT VS Bahubali Neminath Muttin [2016] 73 taxmann.com 100/242 Taxman 279 (Kar) Respectfully, following the decision of the jurisdictional High Court in Corporation Indwell (cited supra), since the net profit of the appellant was estimated after rejecting the books of accounts, it is held that no further u/s.40A(3) of the Act. In view o…

ACIT, Central Circle-2(3), Hyderabad vs. Skill Promoters, Hyderabad

ITA 687/HYD/2022[2015-16]Status: DisposedITAT Hyderabad31 Oct 2023AY 2015-16

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Assessee Revenue A.Y 628/Hyd/2022 Skill Promoters, Acit, Central Circle 2014-15 Hyderabad 2(3) Hyderabad Pan:Aayfs9165Q 686/Hyd/2022 Acit, Central Circle Skill Promoters, 2014-15 2(3) Hyderabad Hyderabad Pan:Aayfs9165Q 629/Hyd/2022 -Do- -Do- 2015-16 687/Hyd/2022 -Do- -Do- 2015-16 630/Hyd/2022 -Do- -Do- 2016-17 677/Hyd/2022 Acit, Central Circle Skill Promoters (P) 2016-17 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 688/Hyd/2022 -Do- Skill Promoters, 2016-17 Hyderabad Pan:Aayfs9165Q 622/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2016-17 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 678/Hyd/2022 -Do- -Do- 2017-18 623/Hyd/2022 -Do- -Do- 2017-18 679/Hyd/2022 -Do- -Do- 2018-19 624/Hyd/2022 -Do- -Do- 2018-19 680/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2019-20 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 625/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2019-20 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 681/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2020-21 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 626/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2020-21 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Jeevanlal Lavidiya,CIT (DR)
Section 132Section 132(4)Section 139(4)Section 143(2)Section 153ASection 269SSection 40ASection 40A(3)

…arious judicial fora in the following decisions: (i) CIT VS Smt.Santosh Jain [2007] 159 Taxmann 392 CIT VS Gobind Ram (Punjab & Haryana) (ii) CIT vs. Gobind Ram (2014) 48 taxmann.com 14/(2015) 229 (Punjab & Haryana) (iii) CIT vs. Banwari Lal Banshidhar (1998) 229 ITR 229 (All) (iv) CIT VS Bahubali Neminath Muttin [2016] 73 taxmann.com 100/242 Taxman 279 (Kar) Respectfully, following the decision of the jurisdictional High Court in Corporation Indwell (cited supra), since the net profit of the appellant was estimated after rejecting the books of accounts, it is held that no further u/s.40A(3) of the Act. In view o…

ACIT, Central Circle-2(3), Hyderabad vs. Skill Promoters, Hyderabad

ITA 686/HYD/2022[2014-15]Status: DisposedITAT Hyderabad31 Oct 2023AY 2014-15

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Assessee Revenue A.Y 628/Hyd/2022 Skill Promoters, Acit, Central Circle 2014-15 Hyderabad 2(3) Hyderabad Pan:Aayfs9165Q 686/Hyd/2022 Acit, Central Circle Skill Promoters, 2014-15 2(3) Hyderabad Hyderabad Pan:Aayfs9165Q 629/Hyd/2022 -Do- -Do- 2015-16 687/Hyd/2022 -Do- -Do- 2015-16 630/Hyd/2022 -Do- -Do- 2016-17 677/Hyd/2022 Acit, Central Circle Skill Promoters (P) 2016-17 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 688/Hyd/2022 -Do- Skill Promoters, 2016-17 Hyderabad Pan:Aayfs9165Q 622/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2016-17 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 678/Hyd/2022 -Do- -Do- 2017-18 623/Hyd/2022 -Do- -Do- 2017-18 679/Hyd/2022 -Do- -Do- 2018-19 624/Hyd/2022 -Do- -Do- 2018-19 680/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2019-20 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 625/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2019-20 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 681/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2020-21 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 626/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2020-21 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Jeevanlal Lavidiya,CIT (DR)
Section 132Section 132(4)Section 139(4)Section 143(2)Section 153ASection 269SSection 40ASection 40A(3)

…arious judicial fora in the following decisions: (i) CIT VS Smt.Santosh Jain [2007] 159 Taxmann 392 CIT VS Gobind Ram (Punjab & Haryana) (ii) CIT vs. Gobind Ram (2014) 48 taxmann.com 14/(2015) 229 (Punjab & Haryana) (iii) CIT vs. Banwari Lal Banshidhar (1998) 229 ITR 229 (All) (iv) CIT VS Bahubali Neminath Muttin [2016] 73 taxmann.com 100/242 Taxman 279 (Kar) Respectfully, following the decision of the jurisdictional High Court in Corporation Indwell (cited supra), since the net profit of the appellant was estimated after rejecting the books of accounts, it is held that no further u/s.40A(3) of the Act. In view o…

ACIT., Central Circle-2(3), Hyderabad vs. Skill Promoters Private Limited, Hyderabad

ITA 681/HYD/2022[2020-21]Status: DisposedITAT Hyderabad31 Oct 2023AY 2020-21

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Assessee Revenue A.Y 628/Hyd/2022 Skill Promoters, Acit, Central Circle 2014-15 Hyderabad 2(3) Hyderabad Pan:Aayfs9165Q 686/Hyd/2022 Acit, Central Circle Skill Promoters, 2014-15 2(3) Hyderabad Hyderabad Pan:Aayfs9165Q 629/Hyd/2022 -Do- -Do- 2015-16 687/Hyd/2022 -Do- -Do- 2015-16 630/Hyd/2022 -Do- -Do- 2016-17 677/Hyd/2022 Acit, Central Circle Skill Promoters (P) 2016-17 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 688/Hyd/2022 -Do- Skill Promoters, 2016-17 Hyderabad Pan:Aayfs9165Q 622/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2016-17 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 678/Hyd/2022 -Do- -Do- 2017-18 623/Hyd/2022 -Do- -Do- 2017-18 679/Hyd/2022 -Do- -Do- 2018-19 624/Hyd/2022 -Do- -Do- 2018-19 680/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2019-20 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 625/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2019-20 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 681/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2020-21 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 626/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2020-21 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Jeevanlal Lavidiya,CIT (DR)
Section 132Section 132(4)Section 139(4)Section 143(2)Section 153ASection 269SSection 40ASection 40A(3)

…arious judicial fora in the following decisions: (i) CIT VS Smt.Santosh Jain [2007] 159 Taxmann 392 CIT VS Gobind Ram (Punjab & Haryana) (ii) CIT vs. Gobind Ram (2014) 48 taxmann.com 14/(2015) 229 (Punjab & Haryana) (iii) CIT vs. Banwari Lal Banshidhar (1998) 229 ITR 229 (All) (iv) CIT VS Bahubali Neminath Muttin [2016] 73 taxmann.com 100/242 Taxman 279 (Kar) Respectfully, following the decision of the jurisdictional High Court in Corporation Indwell (cited supra), since the net profit of the appellant was estimated after rejecting the books of accounts, it is held that no further u/s.40A(3) of the Act. In view o…

ACIT., Central Circle-2(3), Hyderabad vs. Skill Promoters Private Limited, Hyderabad

ITA 680/HYD/2022[2019-20]Status: DisposedITAT Hyderabad31 Oct 2023AY 2019-20

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Assessee Revenue A.Y 628/Hyd/2022 Skill Promoters, Acit, Central Circle 2014-15 Hyderabad 2(3) Hyderabad Pan:Aayfs9165Q 686/Hyd/2022 Acit, Central Circle Skill Promoters, 2014-15 2(3) Hyderabad Hyderabad Pan:Aayfs9165Q 629/Hyd/2022 -Do- -Do- 2015-16 687/Hyd/2022 -Do- -Do- 2015-16 630/Hyd/2022 -Do- -Do- 2016-17 677/Hyd/2022 Acit, Central Circle Skill Promoters (P) 2016-17 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 688/Hyd/2022 -Do- Skill Promoters, 2016-17 Hyderabad Pan:Aayfs9165Q 622/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2016-17 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 678/Hyd/2022 -Do- -Do- 2017-18 623/Hyd/2022 -Do- -Do- 2017-18 679/Hyd/2022 -Do- -Do- 2018-19 624/Hyd/2022 -Do- -Do- 2018-19 680/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2019-20 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 625/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2019-20 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 681/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2020-21 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 626/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2020-21 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Jeevanlal Lavidiya,CIT (DR)
Section 132Section 132(4)Section 139(4)Section 143(2)Section 153ASection 269SSection 40ASection 40A(3)

…arious judicial fora in the following decisions: (i) CIT VS Smt.Santosh Jain [2007] 159 Taxmann 392 CIT VS Gobind Ram (Punjab & Haryana) (ii) CIT vs. Gobind Ram (2014) 48 taxmann.com 14/(2015) 229 (Punjab & Haryana) (iii) CIT vs. Banwari Lal Banshidhar (1998) 229 ITR 229 (All) (iv) CIT VS Bahubali Neminath Muttin [2016] 73 taxmann.com 100/242 Taxman 279 (Kar) Respectfully, following the decision of the jurisdictional High Court in Corporation Indwell (cited supra), since the net profit of the appellant was estimated after rejecting the books of accounts, it is held that no further u/s.40A(3) of the Act. In view o…

ACIT., Central Circle-2(3), Hyderabad vs. Skill Promoters Private Limited, Hyderabad

ITA 679/HYD/2022[2018-19]Status: DisposedITAT Hyderabad31 Oct 2023AY 2018-19

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Assessee Revenue A.Y 628/Hyd/2022 Skill Promoters, Acit, Central Circle 2014-15 Hyderabad 2(3) Hyderabad Pan:Aayfs9165Q 686/Hyd/2022 Acit, Central Circle Skill Promoters, 2014-15 2(3) Hyderabad Hyderabad Pan:Aayfs9165Q 629/Hyd/2022 -Do- -Do- 2015-16 687/Hyd/2022 -Do- -Do- 2015-16 630/Hyd/2022 -Do- -Do- 2016-17 677/Hyd/2022 Acit, Central Circle Skill Promoters (P) 2016-17 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 688/Hyd/2022 -Do- Skill Promoters, 2016-17 Hyderabad Pan:Aayfs9165Q 622/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2016-17 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 678/Hyd/2022 -Do- -Do- 2017-18 623/Hyd/2022 -Do- -Do- 2017-18 679/Hyd/2022 -Do- -Do- 2018-19 624/Hyd/2022 -Do- -Do- 2018-19 680/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2019-20 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 625/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2019-20 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q 681/Hyd/2022 Acit, Central Circle Skill Promoters Pvt 2020-21 2(3) Hyderabad Ltd, Hyderabad Pan:Aawcs1257Q 626/Hyd/2022 Skill Promoters Pvt Acit, Central Circle 2020-21 Ltd, Hyderabad 2(3) Hyderabad Pan:Aawcs1257Q

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Jeevanlal Lavidiya,CIT (DR)
Section 132Section 132(4)Section 139(4)Section 143(2)Section 153ASection 269SSection 40ASection 40A(3)

…arious judicial fora in the following decisions: (i) CIT VS Smt.Santosh Jain [2007] 159 Taxmann 392 CIT VS Gobind Ram (Punjab & Haryana) (ii) CIT vs. Gobind Ram (2014) 48 taxmann.com 14/(2015) 229 (Punjab & Haryana) (iii) CIT vs. Banwari Lal Banshidhar (1998) 229 ITR 229 (All) (iv) CIT VS Bahubali Neminath Muttin [2016] 73 taxmann.com 100/242 Taxman 279 (Kar) Respectfully, following the decision of the jurisdictional High Court in Corporation Indwell (cited supra), since the net profit of the appellant was estimated after rejecting the books of accounts, it is held that no further u/s.40A(3) of the Act. In view o…