What is CIT v. Bilahari Investment (P) Ltd. authority for?

The project completion method and the percentage of completion method are both recognized methods for recognizing income from real estate contracts.

How many judgments cite CIT v. Bilahari Investment (P) Ltd.?

206 judgments on BharatTax cite CIT v. Bilahari Investment (P) Ltd. (299 ITR 1), spanning 2010 to 2026.

Which sections of the Income Tax Act does CIT v. Bilahari Investment (P) Ltd. come up under?

It is most often cited in judgments turning on Section 144B, Section 145(3), Section 10(1), Section 148, Section 151A, Section 143(3).

CIT v. Bilahari Investment (P) Ltd. (299 ITR 1)

ITO Non Corporate Ward 14(5), Chennai vs. C.Rajalakshmy, Chennai

In the result the appeal of the Revenue as well as the cross objection of the assessee are dismissed

ITA 2254/CHNY/2017[2012-13]Status: DisposedITAT Chennai03 May 2018AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri A.Mohan Alankamony

For Appellant: 08.02.2018For Respondent: Shri T. Banusekar, CA

Section 143(1)Section 143(2)Section 143(3)Section 234ASection 250(6)Section 68

…in the earlier years based on completion of work and the advance receipt as liability. The Ld.CIT(A) while deciding the issue in favour of assessee relied in the decisions of the cases, CIT CO No.186 /Chny/2017 vs. Bilahari Investments Pvt. Ltd. reported in 299 ITR 1-SC, CIT vs. Sakhi Finance Ltd. reported in 292 ITR 2321 Madras, CIT vs. Annamalai Finance Ltd. reported in 275 ITR 451 Madras, wherein the following ratio was laid down “The assessee is free to follow any recognized system of accounting and the Revenue cannot change or tamper with the method of Accounting followed by the assessee unless the Revenue…

DCIT Circle 1, Tirunelveli vs. Rm Kv Fashion Garments Pvt Ltd, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 761/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

ACIT Circle 1, Tirunelveli vs. M/S Rm Kv Fbrics Private Limited, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 760/CHNY/2018[2014--15]Status: DisposedITAT Chennai30 Apr 2018

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

ACIT Circle 1, Tirunelveli vs. M/S Rm K V Silks Private Limited, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 759/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

M/S Rm Kv Fbrics Private Limited, Tirunelveli vs. ACIT Circle 1, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 614/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

M/S Rm K V Silks Private Limited, Tirunelveli vs. ACIT Circle 1, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 613/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

DCIT Circle 1, Tirunelveli vs. Rmkv Fashion Garments Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1626/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

DCIT Circle 1, Tirunelveli vs. Rmkv Fashion Garments Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1625/CHNY/2017[2012-13]Status: DisposedITAT Chennai30 Apr 2018AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

DCIT Circle 1, Tirunelveli vs. Rmkv Fabrics Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1624/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

DCIT Circle 1, Tirunelveli vs. Rmkv Fabrics Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1623/CHNY/2017[2012-13]Status: DisposedITAT Chennai30 Apr 2018AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

DCIT Circle 1, Tirunelveli vs. Rmkv Silks Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1622/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

DCIT Circle 1, Tirunelveli vs. Rmkv Silks Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1621/CHNY/2017[2012-13]Status: DisposedITAT Chennai30 Apr 2018AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

Rm.K.V.Fabrics Private Limited, Tirunelveli vs. DCIT Circle 1(1), Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1594/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

Rm.K.V.Silks Private Limited, Tirunelveli vs. DCIT Circle 1, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1593/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…esent case, there is no corresponding revenue to the expenditure on unredeemed bonus points. These principles were enunciated by Hon’ble Supreme Court in the case of Calcutta Co. Ltd. v. CIT [1959] 37 ITR 1 and in the case of CIT v. Bilahari Investment Ltd. 299 ITR 1 (SC), which are extracted below vide para 12 & 13: “12. The argument of the Revenue that as per the agreements signed by the students, they were called upon and were required to pay the entire fee upfront for the entire course at the time of admission and, therefore, the assessee had earned full fee at that :- 41 -: stage itself was rejected obse…

Sohanlal M Jain, Mumbai vs. ITO 2(1), Thane

In the result appeal of the assessee in ITA no

ITA 5776/MUM/2013[2005-06]Status: DisposedITAT Mumbai27 Mar 2018AY 2005-06

Bench: Shri Mahavir Singh & Shri Ramit Kochar

For Appellant: Shri. Vimal PunamiyaFor Respondent: Shri. V. Justin (DR)

Section 143(3)Section 271(1)(c)

…epend on the method of accounting. Two methods are prescribed in Accounting Standard No.7. They are "completed contract method" and "percentage of completion method". This view was reiterated by the Supreme Court in CIT v. Bilahari Investment (P.) Ltd. [2008] 299 ITR 1/168 Taxman 95 with the following observations: "Recognition/identification of income under the 1961 Act is attainable by several methods of accounting. It may be noted that the same result could be attained by any one of the accounting methods. The completed contract method is one such method. Similarly, the percentage of completion method is anoth…

DCIT, Circle-10, Kolkata vs. M/S. Associated Pigments Ltd., Kolkata

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

ITA 2042/KOL/2014[2011-2012]Status: DisposedITAT Kolkata03 Jan 2018AY 2011-2012

Bench: : Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

For Appellant: Shri Saurabh Kumar, Addl. CIT (DR)For Respondent: M.Satnaliwala, FCA

…1. Now, it is only in those cases where the Department records a finding that the 'method adopted by the assessee results in distortion of profits that the Department can insist on substitution of the existing method: CIT v. Bilahari Investment' P. Ltd [2008] 299 ITR 1. In cases where the Department wants to tax an assessee on the ground of liability arising in a particular year, it should always ascertain the method of accounting followed by the assessee in the past and whether the change in the method of accounting was warranted on the ground that profit being under-estimated under the impugned method of accoun…

ITO, WD-19(2)(3), Mumbai vs. Matushree Builders & Developers, Mumbai

In the result, appeal filed by the revenue for the assessment year 2012-

ITA 2652/MUM/2016[2012-13]Status: DisposedITAT Mumbai29 Nov 2017AY 2012-13

Bench: Shri B.R. Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2012-2013 The Ito, Ward 19(2)(3), M/S Matushree Builders & Room No. 221, Matru Mandir, Developers, Mumbai - 400007 84-A, Gr. Flr., Appollo House, Vs. B.S. Marg, Fort, Mumbai - 400023 Pan: Aanfm0260F (Appellant) (Respondent)

For Appellant: Shri Rohit Golecha (AR)For Respondent: Shri M.C. Omi Ningshen (DR)

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

…t by the Ld. Counsel, the co-ordinate Bench has already decided the said issue in favour of the assessee in assessee’s own case for the assessment year 2011-12 by following the decision of Hon’ble Supreme Court rendered in CIT vs. Bilahari Investment (P) Ltd. 299 ITR 1, Hon’ble Delhi High Court CIT vs. Manish Build Well Private Limited 245 CTR 397(Del.) and decision of co-ordinate Bench in Avadhesh Builder vs. ITO 37 SOT 122 Mum (Trib). The operative part of the order of the Tribunal reads as under: 4 Assessment Year: 2012-2013 “We also find that the assessee has claimed to have duly paid the entire taxes from…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 6021/DEL/2012[2008-09]Status: DisposedITAT Delhi09 Nov 2017AY 2008-09

Bench: Shri N.K. Saini & Shri K.N. Charry

Section 143(3)Section 144CSection 144C(5)Section 14ASection 35DSection 43BSection 92C

…ense the entire exercise of seeking to tax the normal business expenditure is, in any case, revenue neutral as such in view of the decisions in CIT v. Excel Industries Ltd and Mafatlal Industries (P) Ltd.: 358 ITR 295 (SC), CIT v. Bilahari Investment P. Ltd.: 299 ITR 1 (SC), CIT v. Shri Ram Pistons & Rings Ltd.: 220 CTR 404 (Del.), CIT v. Triveni Engg. & Industries Ltd.: 336 ITR 374 (Del.), CIT v. Nagri Mills Co. Ltd.: 33 ITR 681 (Bom.), and CIT vs. M/s Vishnu Industrial Gases: ITA No. 229/1988 (Del.) Revenue should not agitate issues or make adjustment on issues which are revenue neutral and do not affect overal…

DCIT, New Delhi vs. M/S. Ajay Enterprises Pvt. Ltd., New Delhi

In the result, the appeals of the assessee for A

ITA 1348/DEL/2013[2008-09]Status: DisposedITAT Delhi31 Jul 2017AY 2008-09

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

For Appellant: A.Y. 2008-09For Respondent: A.Y. 2008-09

Section 41(1)

…e of completion method and regularly method of accounting cannot be disturbed by the AO unless it is proved that such method does not result into the correct taxable income. Reliance was made on the following judgments:- • CIT vs. Bilahari Investment (P) Ltd. 299 ITR 1 (SC). • CIT vs. Realest Builders & Services Ltd. 307 ITR 202 (SC). • CIT vs. Woodward governor India (P) Ltd. 312 ITR 254 (SC). 16. That the estimation of loss made by the assessee were strictly in accordance with the accepted accounting policies and the claim in respect of estimated liability cannot be rejected on surmises and conjectures for whic…

Ajay Enterprises Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee for A

ITA 898/DEL/2013[2008-09]Status: DisposedITAT Delhi31 Jul 2017AY 2008-09

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

For Appellant: A.Y. 2008-09For Respondent: A.Y. 2008-09

Section 41(1)

…e of completion method and regularly method of accounting cannot be disturbed by the AO unless it is proved that such method does not result into the correct taxable income. Reliance was made on the following judgments:- • CIT vs. Bilahari Investment (P) Ltd. 299 ITR 1 (SC). • CIT vs. Realest Builders & Services Ltd. 307 ITR 202 (SC). • CIT vs. Woodward governor India (P) Ltd. 312 ITR 254 (SC). 16. That the estimation of loss made by the assessee were strictly in accordance with the accepted accounting policies and the claim in respect of estimated liability cannot be rejected on surmises and conjectures for whic…

CIT v. Bilahari Investment (P) Ltd.

What is CIT v. Bilahari Investment (P) Ltd. authority for?

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Judgments citing CIT v. Bilahari Investment (P) Ltd.

ITO Non Corporate Ward 14(5), Chennai vs. C.Rajalakshmy, Chennai

DCIT Circle 1, Tirunelveli vs. Rm Kv Fashion Garments Pvt Ltd, Tirunelveli

ACIT Circle 1, Tirunelveli vs. M/S Rm Kv Fbrics Private Limited, Tirunelveli

ACIT Circle 1, Tirunelveli vs. M/S Rm K V Silks Private Limited, Tirunelveli

M/S Rm Kv Fbrics Private Limited, Tirunelveli vs. ACIT Circle 1, Tirunelveli

M/S Rm K V Silks Private Limited, Tirunelveli vs. ACIT Circle 1, Tirunelveli

DCIT Circle 1, Tirunelveli vs. Rmkv Fashion Garments Pvt. Ltd., Tirunelveli

DCIT Circle 1, Tirunelveli vs. Rmkv Fashion Garments Pvt. Ltd., Tirunelveli

DCIT Circle 1, Tirunelveli vs. Rmkv Fabrics Pvt. Ltd., Tirunelveli

DCIT Circle 1, Tirunelveli vs. Rmkv Fabrics Pvt. Ltd., Tirunelveli

DCIT Circle 1, Tirunelveli vs. Rmkv Silks Pvt. Ltd., Tirunelveli

DCIT Circle 1, Tirunelveli vs. Rmkv Silks Pvt. Ltd., Tirunelveli

Rm.K.V.Fabrics Private Limited, Tirunelveli vs. DCIT Circle 1(1), Tirunelveli

Rm.K.V.Silks Private Limited, Tirunelveli vs. DCIT Circle 1, Tirunelveli

Sohanlal M Jain, Mumbai vs. ITO 2(1), Thane

DCIT, Circle-10, Kolkata vs. M/S. Associated Pigments Ltd., Kolkata

ITO, WD-19(2)(3), Mumbai vs. Matushree Builders & Developers, Mumbai

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

DCIT, New Delhi vs. M/S. Ajay Enterprises Pvt. Ltd., New Delhi

Ajay Enterprises Pvt. Ltd., New Delhi vs. DCIT, New Delhi