CIT v. Excel Industries Ltd.

358 ITR 295Supreme Court of India2013#49 most cited

What is CIT v. Excel Industries Ltd. authority for?

When an income or expenditure is revenue neutral across different assessment years, where any benefit derived is offset by a corresponding liability or reversal, no additional tax liability arises, particularly concerning income recognition under the mercantile system of accounting.

935

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Excel Industries Ltd. · Excel Industries Ltd SC 2013 · Revenue Neutral principle · mercantile system of accounting · right to receive income · taxability of revenue neutral transactions · Section 147 Income Tax Act · reassessment · Section 148 Income Tax Act · profits and gains of business or profession · no tax liability revenue neutral · income accrual reversal

Also reported as

38 Taxmann.com 100219 Taxmann 379

Sections most often in play

Section 143(3)Section 37(1)Section 147 Section 14A Section 132 Section 153A Section 1961 Section 148

Read the full judgment

Issues it is cited on

right to receive mercantile system of accounting rule of consistency section 35 profits and gains of business or profession revenue expenditure liable to tax section 80i section 37(1)section 28 section 32 capital expenditure

Judgments citing CIT v. Excel Industries Ltd.

Tata Teleservices Ltd., New Delhi vs. DCIT, Circle-25(1), New Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 337/DEL/2021[2016-17]Status: DisposedITAT Delhi26 Aug 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…

DCIT Circle 25(1), New Delhi vs. Tata Teleservices Ltd., New Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 5927/DEL/2019[2015-16]Status: DisposedITAT Delhi26 Aug 2025AY 2015-16

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…

DCIT Circle 25(1), New Delhi vs. Tata Teleservices Ltd., New Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 5926/DEL/2019[2014-15]Status: DisposedITAT Delhi26 Aug 2025AY 2014-15

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…

DCIT Circle - 25(1), New Delhi vs. Tata Teleservices Ltd., New Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 5925/DEL/2019[2013-14]Status: DisposedITAT Delhi26 Aug 2025AY 2013-14

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…

DCIT Circle - 25(1), New Delhi vs. Tata Teleservices Ltd., New Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 5924/DEL/2019[2012-13]Status: DisposedITAT Delhi26 Aug 2025AY 2012-13

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…

Tata Teleservices Ltd., New Delhi vs. ACIT Circle - 25(1), New Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 5666/DEL/2019[2013-14]Status: DisposedITAT Delhi26 Aug 2025AY 2013-14

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…

Tata Teleservices Ltd., New Delhi vs. ACIT Circle - 25(1), New Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 5665/DEL/2019[2012-13]Status: DisposedITAT Delhi26 Aug 2025AY 2012-13

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…

Tata Teleservices Ltd., Noida vs. ACIT, Circle- 25(1), New Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 4150/DEL/2017[2011-12]Status: DisposedITAT Delhi26 Aug 2025AY 2011-12

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…

ITO-41(3)(2), Mumbai vs. K S Chamankar Enterprises, Malad (E), Mumbai

In the result, appeal of the Revenue is dismissed

ITA 4586/MUM/2024[2012-13]Status: DisposedITAT Mumbai19 Aug 2025AY 2012-13

Bench: Shri Saktijit Dey & Shri Prabhash Shankarincome Tax Officer, Ward V/S. K S Chamankar Enterprises, – 41(3)(2), Room No. 851, बनाम B-15, Pethe Nagar, Kedarmal 8Th Floor, Kautilya Bhavan, Road, Malad(E), Mumbai – Bandra Kurla Complex, 400097, Maharashtra Bandra (East), Mumbai 400051, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aagfk5823R Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Bharat Raichandani, Adv. [virtually appear]For Respondent: Shri Ritesh Mishra,(CIT-DR)

Section 143(3)Section 147Section 28

…s. The assessee was stated to be following Project Completion method of accounting. In P a g e | 4 A.Y. 2012-13 K S Chamankar Enterprises, Mumbai this regard, reliance was also placed on the decision of hon’ble Apex Cpurt in CIT vs Excel Industries Ltd(2013) 358 ITR 295(SC). 3.2 It was noticed by the AO that the based on FSI allowable, the assessee had accrued income of Rs 81.05 cr. whereas the expenditure incurred was Rs 60 cr. However, the assessee it did not disclose any income from the project. Total cost of the said project was Rs 100 cr. out of which it had completed work worth Rs 60cr. with a right to re…

Council of Architecture, New Delhi vs. ITO (Exemption), Ward-1(3), New Delhi

In the result, the appeal of the assessee for Assessment Year 2012-

ITA 955/DEL/2019[2012-13]Status: DisposedITAT Delhi13 Aug 2025AY 2012-13

Bench: Shri M. Balaganesh & Shri Vimal Kumar

For Appellant: Shri Sushil Kumar, AdvFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR

Section 11Section 12ASection 143(3)

…f the life membership fee as its revenue hence, effectively only is a question of timing difference. There would be absolutely no loss to the exchequer in the form of taxes. The Hon‟ble Supreme Court in the case of CIT Vs. Excel industries Limited reported in 358 ITR 295(SC) held by observing that where the rate of taxes remain the same in all the years, the dispute raised by the revenue is entirely academic and in that scenario, no addition is required to be made. While doing so, the Hon‟ble Supreme Court had duly taken cognizance of the principles of real income theory and proposed consistency in the treatment…

Council of Architecture, New Delhi vs. ITO (Exemption), Ward-1(3), New Delhi

In the result, the appeal of the assessee for Assessment Year 2012-

ITA 952/DEL/2019[2014-15]Status: DisposedITAT Delhi13 Aug 2025AY 2014-15

Bench: Shri M. Balaganesh & Shri Vimal Kumar

For Appellant: Shri Sushil Kumar, AdvFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR

Section 11Section 12ASection 143(3)

…f the life membership fee as its revenue hence, effectively only is a question of timing difference. There would be absolutely no loss to the exchequer in the form of taxes. The Hon‟ble Supreme Court in the case of CIT Vs. Excel industries Limited reported in 358 ITR 295(SC) held by observing that where the rate of taxes remain the same in all the years, the dispute raised by the revenue is entirely academic and in that scenario, no addition is required to be made. While doing so, the Hon‟ble Supreme Court had duly taken cognizance of the principles of real income theory and proposed consistency in the treatment…

Ponni Sugars (Erode) Ltd., Chennai vs. DCIT, Circle-1, Ltu, Chennai

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

ITA 23/CHNY/2025[2009-10]Status: DisposedITAT Chennai06 Aug 2025AY 2009-10

Bench: Shri George George Kand Shri Amitabh Shuklaआयकर अपील सं./Ita No.: 23/Chny/2025 िनधा"रण वष"/Assessment Year:2009-10 Ponni Sugars (Erode) Limited, The Deputy Commissioner Esvin House, No.13, Vs. Of Income Tax, Rajiv Gandhi Salai (Omr), Circle-1, Ltu, Perungudi, Chennai. Chennai – 600 096. Pan: Aaccp 2779A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri N.R. Suresh, C.A. ""यथ" क" ओर से/Respondent By : Ms. Anitha, Addl.Cit सुनवाई क" तारीख/Date Of Hearing : 05.08.2025 घोषणा क" तारीख/Date Of Pronouncement : 06.08.2025

For Appellant: Shri N.R. Suresh, C.AFor Respondent: Ms. Anitha, Addl.CIT

Section 115JSection 14ASection 250

…rcantile system of accounting and the impugned subsidy which has accrued to the assessee should be offered to tax. In this regard it is relevant to note the following observations of the Hon'ble Supreme Court in the case of CIT v. Excel Industries Ltd. [2013] 358 ITR 295 (SC) where it is observed that – "This Court further held, and in our opinion more importantly, that income accrues when there "arises a corresponding liability of the other party from whom the income becomes due to pay that amount." 10. Thus judicially the term 'accrual' has been defined to mean enforceable of right to receive (from recipient'…

DCIT Central Circle 05, Delhi vs. Deepak Kothari, Kanpur

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

ITA 1834/DEL/2021[20017-18]Status: DisposedITAT Delhi06 Aug 2025

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

For Appellant: Dr. Rakesh Gupta, AdvocateFor Respondent: Shri Dayainder Singh Sidhu, CIT DR

Section 143(3)Section 49(4)Section 56(2)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’: NEW DELHI BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER and SHRI VIMAL KUMAR, JUDICIAL MEMBER Deepak Kothari, vs. ACIT, Central Circle – 5, 24/19, The Mall Kanpur, New Delhi. Kanpur – 208 011 (Uttar Pradesh). (PAN : AAYPK6101C) ACIT, Central Circle – 5, vs. Deepak Kothari, New Delhi. 24/19, The Mall Kanpur, Kanpur – 208 011 (Uttar Pradesh). (PAN : AAYPK6101C) (APPELLANT) (RESPONDENT) ASSESSEE BY : Dr. Rakesh Gupta, Advocate Shri Somil Agarwal, Advocate Shri Deepesh Garg, Advocate REVENUE BY : Shri Dayainder Singh Sidhu, CIT DR Date of Hearing : 05.06.2025…

Deepak Kathari, Kanpur vs. ACIT, CC-5, New Delhi

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

ITA 1205/DEL/2021[2017-18]Status: DisposedITAT Delhi06 Aug 2025AY 2017-18

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

For Appellant: Dr. Rakesh Gupta, AdvocateFor Respondent: Shri Dayainder Singh Sidhu, CIT DR

Section 143(3)Section 49(4)Section 56(2)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’: NEW DELHI BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER and SHRI VIMAL KUMAR, JUDICIAL MEMBER Deepak Kothari, vs. ACIT, Central Circle – 5, 24/19, The Mall Kanpur, New Delhi. Kanpur – 208 011 (Uttar Pradesh). (PAN : AAYPK6101C) ACIT, Central Circle – 5, vs. Deepak Kothari, New Delhi. 24/19, The Mall Kanpur, Kanpur – 208 011 (Uttar Pradesh). (PAN : AAYPK6101C) (APPELLANT) (RESPONDENT) ASSESSEE BY : Dr. Rakesh Gupta, Advocate Shri Somil Agarwal, Advocate Shri Deepesh Garg, Advocate REVENUE BY : Shri Dayainder Singh Sidhu, CIT DR Date of Hearing : 05.06.2025…

Income Tax Officer (Exemption), Lucknow vs. Sapien Educational Society, Sultanpur

In the result, the appeal of the Revenue and Cross

ITA 311/LKW/2023[2018-19]Status: DisposedITAT Lucknow31 Jul 2025AY 2018-19

Bench: Shri Kul Bharat & Shri Anadee Nath Misshraassessment Year: 2018-19 Income Tax Officer V. Sapien Educational (Exemption) Society Room No.426, 4Th Floor, 1, C/O Xaviers High Pratyaksh Kar Bhawan, 57, School, Mahvaria, Ram Tirath Marg, Lucknow- Sultanpur-228001. 226001. Pan: Aagas2725K (Appellant) (Respondent) C. O. No. 01/Lkw/2024 (In Arising Out Of Ita. No. 311/Lkw/2023) Assessment Year: 2018-19 Sapien Educational Society V. Income Tax Officer 1, C/O Xaviers High School, (Exemption) Mahvaria, Sultanpur-228001. Ram Tirath Marg Narhi, Lucknow-226001. Pan: Aagas2725K (Appellant) (Respondent) Appellant By: Shri Suyash Agarwal, Adv Respondent By: Shri Amit Kumar, Cit(Dr) O R D E R

For Appellant: Shri Suyash Agarwal, AdvFor Respondent: Shri Amit Kumar, CIT(DR)

Section 10Section 12ASection 143(1)Section 143(3)Section 270A

…as discussed above. Accordingly, Ground No.1 of appeal is partly allowed.” (B.2) During the course of appellate proceedings in Income Tax Appellate Tribunal (“ITAT”, for short), the assessee filed a paper book containing the following particulars: - 1 (2013) 38 Taxmann.com 100 (SC) para 28, 29, 30 & 31 CIT vs Excel Industries Ltd 2 (2017) 88 Taxmann.com 133 (Amritsar ITAT) para 25 to 28 Punjab Education Society vs ITO Moga 3 (2021) 132 Taxmann.com 269 (Raipur ITAT) para 7 to 13 Prem Prakash Mandal Sewa Trust vs ITO Exemption Raipur (B.3) At the time of hearing, the Ld. Departmental Representative for the Revenue…

K.R.Pulp and Papers Ltd., Delhi vs. ACIT, Central Circle-19, Delhi

ITA 4456/DEL/2024[2020-21]Status: DisposedITAT Delhi04 Jul 2025AY 2020-21

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

Section 143(2)Section 143(3)Section 144CSection 144C(5)Section 80ISection 92C

…re made on this account. Thus, following the principle of consistency, the adjustments made during the year under appeal deserves to be deleted. For this, he placed reliance on the judgement of Hon'ble Supreme Court in the case of CIT vs Excel Industries Ltd. 358 ITR 295 (SC) and CIT vs Berger Paints 266 ITR 99 (SC) and certain other judgements which are placed at page 29 in para 40 of its written submissions filed during the course of hearing. 13. It is thus, submitted by Ld.AR that the adjustment made of INR 32,68,31,286/- to the sale price of electricity from eligible unit to non-eligible unit deserves to be…

K R Pulp and Papers Ltd., Delhi vs. DCIT Central Circle-19, Delhi

ITA 755/DEL/2022[2017-18]Status: DisposedITAT Delhi04 Jul 2025AY 2017-18

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

Section 143(2)Section 143(3)Section 144CSection 144C(5)Section 801ASection 801A(4)(iv)Section 80ISection 92C

…re made on this account. Thus, following the principle of consistency, the adjustments made during the year under appeal deserves to be deleted. For this, he placed reliance on the judgement of Hon'ble Supreme Court in the case of CIT vs Excel Industries Ltd. 358 ITR 295 (SC) and CIT vs Berger Paints 266 ITR 99 (SC) and certain other judgements which are placed at page 29 in para 40 of its written submissions filed during the course of hearing. 13. It is thus, submitted by Ld.AR that the adjustment made of INR 32,68,31,286/- to the sale price of electricity from eligible unit to non-eligible unit deserves to be d…

M/S. Shourya Towers Pvt. Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 1827/DEL/2017[2012-13]Status: DisposedITAT Delhi27 Jun 2025AY 2012-13

Bench: Shri M. Balaganesh & Shri Yogesh Kumar U.S.Sourya Towers Pvt. Ltd, Vs. Dcit, C/O. Ms. Rra Taxindia, Circle-23(1), D-28, South Extension, New Delhi Part-I, New Delhi (Appellant) (Respondent) Pan: Aahcs9332F

For Appellant: Shri Salil Aggarwal, Sr. AdvocateFor Respondent: Shri Mahesh Kumar, CIT (DR)

…om Assessment Years 2010-11 onwards. Hence there would be no loss to the exchequer with regard to the tax portion if the deduction is allowed in either of the years. In this regard, the Hon‟ble Apex Court in the case of CIT vs Excel Industries Ltd reported in 358 ITR 295 (SC) wherein it was held that the revenue should not have any grievance when the rate of tax remained the same in the year under consideration, in the earlier year and in the subsequent year and thereby making the entire dispute raised by the revenue academic. 9. Similar view was also taken by the Hon‟ble Delhi High Court in the case of CIT vs D…

Jypore Manufacturing Jewellers Private Limited, Jaipur vs. Deputy Commissioner of Income Tax, Jaipur

In the result, the appeal of the assessee is allowed

ITA 432/JPR/2025[2018-19]Status: DisposedITAT Jaipur25 Jun 2025AY 2018-19

For Appellant: Sh. S. L. Poddar, AdvFor Respondent: Mrs. Alka Gautam, CIT-DR

Section 127Section 133ASection 142(1)Section 143(2)Section 143(3)

…essee has not claimed any benefit by increase in valuation of stock in subsequent year. Hence, the addition becomes revenue neutral. Consequently, respectfully following the decision of Hon'ble Supreme Court in the case of CIT Vs. Excel Industries Ltd. (2013) 358 ITR 295, the addition being tax neutral and the assessee having not derived any benefit, the addition is deleted" Also in case of Paras Mal JaM vs ACIT (1TA No.916/JP/ 12 dated 17-10-2015 has held that: "Assuming an addition on account of closing stock is somehow made, the same is to be allowed to the assessee in the next year as opening stock which will…

Trans World International Llc, Wilmington, Delaware, Usa vs. Deputy Commissioner of Income Ta, Circle 3(1)(1), International Taxation, Civic Centre, Near Minto Road, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2146/DEL/2024[2015-16]Status: DisposedITAT Delhi18 Jun 2025AY 2015-16

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

Section 147Section 148

…law as determined/affirmed in the preceding years on an identical issue must be followed. Reliance can be placed upon following judgements: (i) Radhasoami Satsang vs CIT [1992] 60 Taxman 248/193 ITR 321 (Supreme Court) (ii) CIT vs Excel Industries Ltd [2013] 358 ITR 295 (Supreme Court) 34. The Appellant further submits that the apportionment of revenue in the case of bundled contract needs to be carried out in case of composite contract, and the same being always subject to guesswork especially in the absence of any pre-defined formula prescribed under the Act. 35. The aforesaid proposition has been approved and…