CIT v. Hantapara Tea Co. Ltd.

89 ITR 258Supreme Court of India1973#25813 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2018 to 2022.

Judgments citing CIT v. Hantapara Tea Co. Ltd.

Pattabi Thiyagarajan, Villupuram vs. DCIT, Villupuram Circle, Villupuram

In the result, the appeal filed by the assessee is allowed for statistical purpose

ITA 247/CHNY/2019[2013-14]Status: DisposedITAT Chennai15 Feb 2022AY 2013-14

Bench: Shri Mahavir Singhand Shri G. Manjunathaआयकर अपील सं./Ita No.: 247/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Shri Pattabi Thiyagarajan, The Dcit, No.135, Pjn Street, V. Villupuram Circle, Tindivanam, Villupuram Villupuram – 604 001. Pan: Aaapt 3456B (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri R. Bhoopathy, Addl. Cit सुनवाई क" तार"ख/Date Of Hearing : 02.02.2022 घोषणा क" तार"ख/Date Of Pronouncement : 15.02.2022

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Shri R. Bhoopathy, Addl. CIT

Section 143(3)Section 45(2)Section 50C

…erials and semi-finished needles to the business could not be said to be nil, but, on the principle laid down by this Court in CIT vs. Bai Shirinbai K. Kooka (1962) 46 ITR 86 (SC) : TC14R.129, and subsequently followed in CIT vs. Hantapara Tea Co. ~td. (1973) 89 ITR 258 (SC) : TC17R.1227, it would be the market value of these raw materials and semi-finished needles as on 30th Sept., 1961. It is now well settled by these decisions that where an assessee converts his capital assets into stock-in-trade and starts dealing in them, the taxable profit on the sale must be determined by deducting from the sale proceeds t…

Mahaveer Yadav, Jaipur vs. ITO, Jaipur

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

ITA 209/JPR/2017[2011-12]Status: DisposedITAT Jaipur27 Feb 2018AY 2011-12

For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Neena Jeph (Addl.CIT)

Section 2(14)

…erials and semi-finished needles to the business could not be said to be nil, but, on the principle laid down by this Court in CIT vs. Bai Shirinbai K. Kooka (1962) 46 ITR 86 (SC) : TC14R.129, and subsequently followed in CIT vs. Hantapara Tea Co. Ltd. (1973) 89 ITR 258 (SC) : TC17R.1227, it would be the market value of these raw materials and semi-finished needles as on 30th Sept., 1961. It is now well settled by these decisions that where an assessee converts his capital assets into stock- in-trade and starts dealing in them, the taxable profit on the sale must be determined by deducting from the sale proceeds…

Pradeep Vatrana, Alwar vs. DCIT, Alwar

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 930/JPR/2016[2012-13]Status: DisposedITAT Jaipur27 Feb 2018AY 2012-13

For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri P. P. Meena (JCIT)

Section 54

…erials and semi-finished needles to the business could not be said to be nil, but, on the principle laid down by this Court in CIT vs. Bai Shirinbai K. Kooka (1962) 46 ITR 86 (SC) : TC14R.129, and subsequently followed in CIT vs. Hantapara Tea Co. Ltd. (1973) 89 ITR 258 (SC) : TC17R.1227, it would be the market value of these raw materials and semi-finished needles as on 30th Sept., 1961. It is now well settled by these decisions that where an assessee converts his capital assets into stock- in-trade and starts dealing in them, the taxable profit on the sale must be determined by deducting from the sale proceeds…