CIT v. Calcutta Discount Co. Ltd.

91 ITR 8Supreme Court of India1973#373 most cited

What is CIT v. Calcutta Discount Co. Ltd. authority for?

Income cannot be assessed on purely notional figures or mere suspicion; it must be based on actual evidence and supporting material demonstrating its accrual or receipt by the assessee. Assessments made without such evidence are bad-in-law.

236

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2012 to 2026.

Also referred to as

CIT v. Calcutta Discount Co. Ltd. · 91 ITR 8 · assessment without evidence · notional income · income accrual · income receipt · mere statement basis · supporting material · Section 143(3) · Section 142(1) · K.P. Varghese

Sections most often in play

Section 143(3)Section 115BBESection 132Section 132(4)Section 142(1)Section 153ASection 69Section 143(2)
Read the full judgment

Issues it is cited on

section 153b(i)(a)section 132(8)section 132(9a)section 153(1)(a)section 145avaluation of sharessection 65bsection 65section 153(1)icdsdumb documentssection 153b

Judgments citing CIT v. Calcutta Discount Co. Ltd.

Majalgaon S.S.K. Ltd., Beed vs. Assistant Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 830/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Assistant Commissioner of Income-Tax vs. Shri Vitthal S.S.K. Ltd., Solapur

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 824/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Assistant Commissioner of Income-Tax vs. Shree Pandurang S.S.K. Ltd., Solapur

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 823/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Shri Ganesh S.S.K. Ltd., Ahmednagar vs. Assistant Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 665/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Shri Ganesh S.S.K. Ltd., Ahmednagar vs. Assistant Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 664/PUN/2014[2009-10]Status: DisposedITAT Pune04 Sept 2019AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Bhima S.S.K. Ltd., Pune vs. Deputy Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 529/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Shree Adinath Ssk Ltd., Solapur vs. Assistant Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 471/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Sahakar Maharshi Shankarrao Mohite Patil Ssk Ltd., Solapur vs. Assistant Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 470/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Loknete Balasaheb Desai S.S.K. Ltd., Satara vs. Deputycommissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 469/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Assistant Commissioner of Income-Tax vs. Sahakar Marshi Shankarrao Mohite Patil Ssk Ltd., Solapur

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 388/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Assistant Commissioner of Income-Tax vs. Shree Siddheshwar Ssk Ltd., Solapur

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 384/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Assistant Commissioner of Income-Tax vs. Loknete Balasaheb Desai Sahakari, Satara

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 320/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Yashwantrao Mohite Krishna Sahakari Sakhar Karkhana Ltd., Satara vs. Deputy Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 1918/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Kisanveer Satara Sahakari Sakhar Karkhana Ltd., Satara vs. Deputy Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 1917/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Bhima S.S.K. Ltd., Pune vs. Deputy Commissioner of Income-Tax

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 1351/PUN/2014[2008-09]Status: DisposedITAT Pune04 Sept 2019AY 2008-09

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Assistant Commissioner of Income-Tax vs. Shri Ganesh Sahakari Sakhar Karkhana Ltd., K. Ltd., Ahmednagar

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 1220/PUN/2014[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Assistant Commissioner of Income-Tax vs. Shri Ganesh Sahakari Sakhar Karkhana Ltd., K. Ltd., Ahmednagar

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 1219/PUN/2014[2009-10]Status: DisposedITAT Pune04 Sept 2019AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Asst. Commissioner of Income Tax, Circle-1, Nashik vs. Vasantrao Dada Patil Ssk Ltd., Nashik

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 952/PUN/2013[2009-10]Status: DisposedITAT Pune04 Sept 2019AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

Income-Tax, Officer vs. M/S. Neera Bhima Sahakari Sakhar Karkhana Ltd., Pune

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 1908/PUN/2013[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…

M/S. Nira Bhima Sahakari Sakhar Karkhana Ltd., Pune vs. Income-Tax Officer

In the result, the appeals of assessees and the Department are partly allowed for statistical purpose in the terms aforesaid

ITA 1871/PUN/2013[2010-11]Status: DisposedITAT Pune04 Sept 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm Sl.

…y has not made secret profits nor has received this difference in price back from the members and as such fictional income which is not received by the assessee cannot be taxed in its hands as held by Hon‟ble Supreme Court in CIT v. Calcutta Discount Co. Ltd, 91 ITR 8 (SC). b) In some appeals before CIT(A), assessee has relied upon the CBDT Circular No. 117 for the proposition that rebate given by Co-op. Society to its members‟ was not disallowable in Society‟s hands and therefore the discount given to members in the price of sugar should not be taxed in the hands of the Co-op. Society. In some appeals the CIT(A)…