CIT v. McMillan & Co.

33 ITR 182Supreme Court of India1958#629 most cited

What is CIT v. McMillan & Co. authority for?

The Income Tax Officer (ITO), even when accepting the assessee's method of accounting, is not bound by the profit figures shown in the accounts and can still determine the correct profits.

156

judgments rely on this decision, according to BharatTax’s citation analysis of 366,369 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. McMillan & Co. · McMillan & Co. 33 ITR 182 · Section 145 · Section 145(3) · method of accounting · AO not bound by profit figures · assessment of business profits · income tax officer powers · accepted accounting method · profit computation

Sections most often in play

Section 43BSection 115JBSection 147Section 14ASection 153ASection 37Section 143(3)Section 148
Read the full judgment

Issues it is cited on

section 3asection 31(3)section 120(4)(b)section 4asection 36(1)(v)section 10(20)section 145(1)section 61section 80hhc(3)section 46section 40a(7)section 115ja

Judgments citing CIT v. McMillan & Co.

DCIT, New Delhi vs. M/S. Ulfex Ltd., New Delhi

ITA 2809/DEL/2017[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

DCIT, New Delhi vs. M/S. Ulfex Ltd., New Delhi

ITA 2808/DEL/2017[2006-07]Status: DisposedITAT Delhi26 Jul 2024AY 2006-07

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

DCIT, New Delhi vs. M/S. Ulfex Ltd., New Delhi

ITA 2807/DEL/2017[2005-06]Status: DisposedITAT Delhi26 Jul 2024AY 2005-06

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

DCIT, New Delhi vs. M/S. Ulfex Ltd., New Delhi

ITA 2806/DEL/2017[2004-05]Status: DisposedITAT Delhi26 Jul 2024AY 2004-05

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

Uflex Ltd., New Delhi vs. ACIT, New Delhi

ITA 1732/DEL/2017[2009-10]Status: DisposedITAT Delhi26 Jul 2024AY 2009-10

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

Uflex Ltd., New Delhi vs. ACIT, New Delhi

ITA 1731/DEL/2017[2008-09]Status: DisposedITAT Delhi26 Jul 2024AY 2008-09

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

Uflex Ltd., New Delhi vs. ACIT, New Delhi

ITA 1730/DEL/2017[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

Uflex Ltd., New Delhi vs. ACIT, New Delhi

ITA 1729/DEL/2017[2006-07]Status: DisposedITAT Delhi26 Jul 2024AY 2006-07

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

Uflex Ltd., New Delhi vs. ACIT, New Delhi

ITA 1728/DEL/2017[2005-06]Status: DisposedITAT Delhi26 Jul 2024AY 2005-06

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

Uflex Ltd., New Delhi vs. ACIT, New Delhi

ITA 1727/DEL/2017[2004-05]Status: DisposedITAT Delhi26 Jul 2024AY 2004-05

Bench: Shri G.S Pannu, Hon’Ble & Shri Vimal Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Ms. Sarita Kumari, CIT-DR
Section 115JSection 37Section 43B

…nal page 33-38 of the order of CIT(Appeals). The Learned CIT(A) is having the co-terminus power as that of the Assessing Officer and for this very purpose the assessee relied on the following judgments:- (i) 53 ITR 225 (SC) CIT vs. Kanpur Coal Syndicate (ii) 33 ITR 182 (SC) CIT vs. Mahalakshmi Textile Mills Ltd. (iii) 187 ITR 688 (SC) Jute Corporation of India vs. CIT (iv) 229 ITR 383 (SC) National Thermal Power Co. Ltd. vs. CIT (v) 349 ITR 336 (Bom) CIT vs, Pruthvi Brokers & Shareholders Pvt. Ltd. 10. Learned authorised representative for department of revenue submitted that Learned CIT(A) rightly upheld disal…

Parry Infrastructure Co P Ltd., Chennai vs. DCIT Corporate Circle 5(1), Chennai

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

ITA 1653/CHNY/2019[2013-14]Status: DisposedITAT Chennai03 Jul 2024AY 2013-14

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri Philip George, AdvocateFor Respondent: Shri Nilay Baran Som, CIT-DR
Section 143(2)Section 143(3)Section 14A

…as not commented upon. Consequently, the view expressed in Shapoorji Pallonji Mistry’s case (supra) and Rai Bahadur Hardutroy Motilal Chamaria's case (supra) still holds the feet. It may be noted that the issue was considered in CIT v. McMillan and Co. (1958) 33 ITR 182 (SC). Referring to a decision of the Bombay High Court in Narondas Manordass v. CIT (1957) 31 ITR 909 (Bom), it was held that the language used in section 31 of the old Act is wide enough to enable the first appellate authority to correct the Income Tax Officer not only with regard to a matter which has been raised by the assessed but also with re…

Karur Vysya Bank Ltd., Karur vs. DCIT Circle 2(1), Trichy

ITA 678/CHNY/2019[2015-16]Status: DisposedITAT Chennai09 Apr 2024AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 36(1)(viii)Section 41(1)Section 43B

…come was not commented upon. Consequently, the view expressed in ShapoorjiPallonjiMistry’s case (supra) and RaiBahadurHardutroyMotilalChamaria's case (supra) still holds the feet. It may be noted that the issue was considered in CIT v. McMillan and Co. (1958) 33 ITR 182 (SC). Referring to a decision of the Bombay High Court in NarondasManordass v. CIT (1957) 31 ITR 909 (Bom), it was held that the language used in section 31 of the old Act is wide enough to enable the first appellate authority to correct the Income Tax Officer not only with regard to a matter which has been raised by the assessed but also with reg…

Karur Vysya Bank Ltd., Karur vs. DCIT Circle 2(1), Trichy

ITA 677/CHNY/2019[2014-15]Status: DisposedITAT Chennai09 Apr 2024AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 36(1)(viii)Section 41(1)Section 43B

…come was not commented upon. Consequently, the view expressed in ShapoorjiPallonjiMistry’s case (supra) and RaiBahadurHardutroyMotilalChamaria's case (supra) still holds the feet. It may be noted that the issue was considered in CIT v. McMillan and Co. (1958) 33 ITR 182 (SC). Referring to a decision of the Bombay High Court in NarondasManordass v. CIT (1957) 31 ITR 909 (Bom), it was held that the language used in section 31 of the old Act is wide enough to enable the first appellate authority to correct the Income Tax Officer not only with regard to a matter which has been raised by the assessed but also with reg…

DCIT Circle 2(1), Trichy vs. The Karur Vysya Bank Ltd., Karur

ITA 1343/CHNY/2019[2014-15]Status: DisposedITAT Chennai09 Apr 2024AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 36(1)(viii)Section 41(1)Section 43B

…come was not commented upon. Consequently, the view expressed in ShapoorjiPallonjiMistry’s case (supra) and RaiBahadurHardutroyMotilalChamaria's case (supra) still holds the feet. It may be noted that the issue was considered in CIT v. McMillan and Co. (1958) 33 ITR 182 (SC). Referring to a decision of the Bombay High Court in NarondasManordass v. CIT (1957) 31 ITR 909 (Bom), it was held that the language used in section 31 of the old Act is wide enough to enable the first appellate authority to correct the Income Tax Officer not only with regard to a matter which has been raised by the assessed but also with reg…

DCIT Circle 2(1), Trichy vs. The Karur Vysya Bank Ltd., Karur

ITA 1321/CHNY/2019[2015-16]Status: DisposedITAT Chennai09 Apr 2024AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 36(1)(viii)Section 41(1)Section 43B

…come was not commented upon. Consequently, the view expressed in ShapoorjiPallonjiMistry’s case (supra) and RaiBahadurHardutroyMotilalChamaria's case (supra) still holds the feet. It may be noted that the issue was considered in CIT v. McMillan and Co. (1958) 33 ITR 182 (SC). Referring to a decision of the Bombay High Court in NarondasManordass v. CIT (1957) 31 ITR 909 (Bom), it was held that the language used in section 31 of the old Act is wide enough to enable the first appellate authority to correct the Income Tax Officer not only with regard to a matter which has been raised by the assessed but also with reg…

Deputy Commissioner of Income Tax, Visakhapatnam vs. Visakhapatnam Port Authority, Visakhapatnam

In the result, appeal of the Revenue is dismissed

ITA 201/VIZ/2023[2014-15]Status: DisposedITAT Visakhapatnam25 Mar 2024AY 2014-15

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.191/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2009-10) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.193/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.200/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Deputy Commissioner Of Income Vs. Visakhapatnam Port Authority, Tax, Circle-1, Range-1, Administrative Office Building, Visakhapatnam. Port Area, Visakhapatnam, Andhra Pradesh-530001. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 142(2)Section 143(3)

…upfront for a period of 30 years over the lease period is in accordance with the accounting policy and also complying with the provisions of section 145 of the Act. On this issue, the Ld. AR relied on the following case laws: (i) CIT vs. McMillan & Co. [1958] 33 ITR 182 (SC). (ii) Investment Ltd vs. CIT [1970] 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd vs. CIT [2008] 167 Taxman 256 (Gau.) (iv) JuggilalKamlaat Bankers vs. CIT [1975] 101 ITR 40 (All.) (v) CIT vs. Smt. Vimala D. Sonwand [1994] 75 Taxman 335 (Bom.) 32. The Ld. AR further submitted that the assessee can cancel the agreement and reassume the possession of…

Deputy Commissioner of Income Tax, Visakhapatnam vs. Visakhapatnam Port Authority, Visakhapatnam

In the result, appeal of the Revenue is dismissed

ITA 200/VIZ/2023[2013-14]Status: DisposedITAT Visakhapatnam25 Mar 2024AY 2013-14

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.191/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2009-10) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.193/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.200/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Deputy Commissioner Of Income Vs. Visakhapatnam Port Authority, Tax, Circle-1, Range-1, Administrative Office Building, Visakhapatnam. Port Area, Visakhapatnam, Andhra Pradesh-530001. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 142(2)Section 143(3)

…upfront for a period of 30 years over the lease period is in accordance with the accounting policy and also complying with the provisions of section 145 of the Act. On this issue, the Ld. AR relied on the following case laws: (i) CIT vs. McMillan & Co. [1958] 33 ITR 182 (SC). (ii) Investment Ltd vs. CIT [1970] 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd vs. CIT [2008] 167 Taxman 256 (Gau.) (iv) JuggilalKamlaat Bankers vs. CIT [1975] 101 ITR 40 (All.) (v) CIT vs. Smt. Vimala D. Sonwand [1994] 75 Taxman 335 (Bom.) 32. The Ld. AR further submitted that the assessee can cancel the agreement and reassume the possession of…

Visakhapatnam Port Authority, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle-1(1), Visakhapatnam

In the result, appeal of the Revenue is dismissed

ITA 193/VIZ/2023[2013-14]Status: DisposedITAT Visakhapatnam25 Mar 2024AY 2013-14

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.191/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2009-10) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.193/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.200/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Deputy Commissioner Of Income Vs. Visakhapatnam Port Authority, Tax, Circle-1, Range-1, Administrative Office Building, Visakhapatnam. Port Area, Visakhapatnam, Andhra Pradesh-530001. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 142(2)Section 143(3)

…upfront for a period of 30 years over the lease period is in accordance with the accounting policy and also complying with the provisions of section 145 of the Act. On this issue, the Ld. AR relied on the following case laws: (i) CIT vs. McMillan & Co. [1958] 33 ITR 182 (SC). (ii) Investment Ltd vs. CIT [1970] 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd vs. CIT [2008] 167 Taxman 256 (Gau.) (iv) JuggilalKamlaat Bankers vs. CIT [1975] 101 ITR 40 (All.) (v) CIT vs. Smt. Vimala D. Sonwand [1994] 75 Taxman 335 (Bom.) 32. The Ld. AR further submitted that the assessee can cancel the agreement and reassume the possession of…

Visakhapatnam Port Authority, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle-1(1), Visakhapatnam

In the result, appeal of the Revenue is dismissed

ITA 191/VIZ/2023[2009-10]Status: DisposedITAT Visakhapatnam25 Mar 2024AY 2009-10

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.191/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2009-10) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.193/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.200/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Deputy Commissioner Of Income Vs. Visakhapatnam Port Authority, Tax, Circle-1, Range-1, Administrative Office Building, Visakhapatnam. Port Area, Visakhapatnam, Andhra Pradesh-530001. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 142(2)Section 143(3)

…upfront for a period of 30 years over the lease period is in accordance with the accounting policy and also complying with the provisions of section 145 of the Act. On this issue, the Ld. AR relied on the following case laws: (i) CIT vs. McMillan & Co. [1958] 33 ITR 182 (SC). (ii) Investment Ltd vs. CIT [1970] 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd vs. CIT [2008] 167 Taxman 256 (Gau.) (iv) JuggilalKamlaat Bankers vs. CIT [1975] 101 ITR 40 (All.) (v) CIT vs. Smt. Vimala D. Sonwand [1994] 75 Taxman 335 (Bom.) 32. The Ld. AR further submitted that the assessee can cancel the agreement and reassume the possession of…

Deputy Commissioner of Income Tax, Visakhapatnam vs. M/S. Visakhapatnam Port Authority, Visakhapatnam

In the result, appeal of the Revenue is dismissed

ITA 125/VIZ/2023[2018-19]Status: DisposedITAT Visakhapatnam25 Mar 2024AY 2018-19

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.191/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2009-10) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.193/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Visakhapatnam Port Authority, Vs. The Asst. Commissioner Of Administrative Office Building, Income Tax, Port Area, Visakhapatnam, Circle-1(1), Andhra Pradesh-530001. Visakhapatnam. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.200/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Deputy Commissioner Of Income Vs. Visakhapatnam Port Authority, Tax, Circle-1, Range-1, Administrative Office Building, Visakhapatnam. Port Area, Visakhapatnam, Andhra Pradesh-530001. Pan: Aaalv 0035 C (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 142(2)Section 143(3)

…upfront for a period of 30 years over the lease period is in accordance with the accounting policy and also complying with the provisions of section 145 of the Act. On this issue, the Ld. AR relied on the following case laws: (i) CIT vs. McMillan & Co. [1958] 33 ITR 182 (SC). (ii) Investment Ltd vs. CIT [1970] 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd vs. CIT [2008] 167 Taxman 256 (Gau.) (iv) JuggilalKamlaat Bankers vs. CIT [1975] 101 ITR 40 (All.) (v) CIT vs. Smt. Vimala D. Sonwand [1994] 75 Taxman 335 (Bom.) 32. The Ld. AR further submitted that the assessee can cancel the agreement and reassume the possession of…