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 366,421 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.

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4972/DEL/2018[2011-12]Status: DisposedITAT Delhi08 Aug 2023AY 2011-12

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…he power to discover a new source of income was not commented upon. Consequently, the view expressed in Shapoorji's case (supra) and Chamaria's case (supra) still holds the field. 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 Manohar Dass 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…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4971/DEL/2018[2010-11]Status: DisposedITAT Delhi08 Aug 2023AY 2010-11

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…he power to discover a new source of income was not commented upon. Consequently, the view expressed in Shapoorji's case (supra) and Chamaria's case (supra) still holds the field. 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 Manohar Dass 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…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4970/DEL/2018[2008-09]Status: DisposedITAT Delhi08 Aug 2023AY 2008-09

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…he power to discover a new source of income was not commented upon. Consequently, the view expressed in Shapoorji's case (supra) and Chamaria's case (supra) still holds the field. 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 Manohar Dass 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…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4969/DEL/2018[2007-08]Status: DisposedITAT Delhi08 Aug 2023AY 2007-08

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…he power to discover a new source of income was not commented upon. Consequently, the view expressed in Shapoorji's case (supra) and Chamaria's case (supra) still holds the field. 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 Manohar Dass 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…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4968/DEL/2018[2006-07]Status: DisposedITAT Delhi08 Aug 2023AY 2006-07

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…he power to discover a new source of income was not commented upon. Consequently, the view expressed in Shapoorji's case (supra) and Chamaria's case (supra) still holds the field. 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 Manohar Dass 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…

The ACIT, Central-2, Indore vs. M/S. Shakti Pumps (India) Ltd., Indore

ITA 1358/IND/2016[2010-11]Status: DisposedITAT Indore26 Apr 2023AY 2010-11

Bench: Ms. Madhumita Roy & Shri B.M. Biyani(Virtual Hearing) Assessment Year: 2010-11 Acit (Central)-2, Shakti Pumps (India) Ltd. Indore 226, Shastri Market, बनाम/ M.G. Road, Vs. Indore (Appellant / Revenue) (Respondent / Assessee) Pan: Aaecs 5027 L Revenue By Shri P.K. Mishra, Cit-Dr Assessee By Ms. Nisha Lahoti & Vijay Bansal, Ars Date Of Hearing 23/11/2022 / 22.02.2023 Date Of Pronouncement 26.04.2023

Section 10ASection 143(2)Section 143(3)Section 145Section 263

…t approximating to truth and must exercise his discretion and dgment judicially and reasonably.[emphasis supplied] Page 11 of 16 Shakti Pumps (India ) Ltd. Assessment years 2010-11 a) Sarangpur Cotton Mfg. Co. [1938] 6 ITR 36 (PC) b) McMillan & Co. [1958] 33 ITR 182 (SC) c) KY Pilliah & Sons [1967] 63 ITR 411 (SC) 2.41 Jurisdictional Hon'ble ITAT Indore Bench dealt with similar disallowance of deduction u/s 80HHC on a charge that assessee might have incurred other expenses than debited in P&L, in the case of Bhaskar Trading Corporation [2007] 91TJ 141 wherein at Para 17.9 it was held:- “The Ld. CITIA) though…

Dy. Commissioner of Income Tax, Circle - 01, Varanasi vs. Perfect Tecno Counsultants Pvt. Ltd., Varanasi

In the result, the appeal of the Revenue is allowed for statistical purposes

ITA 139/VNS/2020[2017-2018]Status: DisposedITAT Varanasi13 Apr 2023AY 2017-2018

Bench: Shri Ramit Kochar & Shri Pavan Kumar Gadaleassessment Year: 2017-18 Dy. Commissioner Of Income Perfect Techno Consultants Pvt. Ltd., Tax, Circle-1, Aayakarbhawan, V. N-1/65-A, Narrotam Nagar Colony, M A Road, Varanasi- Nagwa, Lanka Varanasi-221005,U.P. 221002,U.P. Pan:Aagcp3236N (Appellant) (Respondent) Revenue By: Sh. Amalendunath Mishra, Cit Dr Assessee By: Sh. Mohammad Ashraf, C.A. Date Of Hearing: 11.04.2023 Date Of Pronouncement: 13.04.2023 O R D E R

For Appellant: Sh. Mohammad Ashraf, C.AFor Respondent: Sh. AmalenduNath Mishra, CIT DR
Section 115JSection 142(1)Section 143(2)Section 144Section 250Section 68Section 69A

…eal filed by Revenue be dismissed. The ld. Counsel for the assesseerelied upon the following judicial precedents, in support of his contentions,as under:- i. Judgment and order of Hon’ble Supreme Court in the case of CIT v. McMillan & Co. , reported in (1958) 33 ITR 182(SC) ii. Judgment and order of Hon’ble Supreme Court in the case of CIT v. Kanpur Coal Syndicate, reported in (1964) 53 ITR 225(SC) iii. Judgment and order of Hon’ble Kerala High Court in the case of K. Mohammed v. ITO , reported in the case of (1977)107 ITR 808(Ker.) iv. Judgment and order of Hon’ble Calcutta High Court in the case of CIT v. Ranic…

M/S. Mega Aims, Bharuch vs. ITO, Ward-1(3), Bharuch

In the result, appeals filed by the Revenue (ITA Nos

ITA 751/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

Section 142(1)Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.722 to 723/SRT/2018 Assessment Years: (2013-14 to 2014-15) (Physical Hearing) The DCIT, Circle-1, Vs. M/s. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQFM1615F (Appellant) (Respondent) आयकर अपील सं./ITA Nos.750 to 751/SRT/2018 Assessment Years: (2013-14 to 2014-15) M/s. Mega Aims, Vs. The ACIT, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQFM1615F (App…

M/S. Mega Aims, Bharuch vs. ACIT, Circle-1, Bharuch

In the result, appeals filed by the Revenue (ITA Nos

ITA 750/SRT/2018[2013-14]Status: DisposedITAT Surat30 Mar 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

Section 142(1)Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.722 to 723/SRT/2018 Assessment Years: (2013-14 to 2014-15) (Physical Hearing) The DCIT, Circle-1, Vs. M/s. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQFM1615F (Appellant) (Respondent) आयकर अपील सं./ITA Nos.750 to 751/SRT/2018 Assessment Years: (2013-14 to 2014-15) M/s. Mega Aims, Vs. The ACIT, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQFM1615F (App…

Deputy Commissioner of Income Tax, Bharuch Circle-1, Bharuch vs. M/S. Mega Aims, Bharuch

In the result, appeals filed by the Revenue (ITA Nos

ITA 723/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

Section 142(1)Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.722 to 723/SRT/2018 Assessment Years: (2013-14 to 2014-15) (Physical Hearing) The DCIT, Circle-1, Vs. M/s. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQFM1615F (Appellant) (Respondent) आयकर अपील सं./ITA Nos.750 to 751/SRT/2018 Assessment Years: (2013-14 to 2014-15) M/s. Mega Aims, Vs. The ACIT, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQFM1615F (App…

Deputy Commissioner of Income Tax, Bharuch Circle-1, Bharuch vs. M/S. Mega Aims, Bharuch

In the result, appeals filed by the Revenue (ITA Nos

ITA 722/SRT/2018[2013-14]Status: DisposedITAT Surat30 Mar 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

Section 142(1)Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.722 to 723/SRT/2018 Assessment Years: (2013-14 to 2014-15) (Physical Hearing) The DCIT, Circle-1, Vs. M/s. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQFM1615F (Appellant) (Respondent) आयकर अपील सं./ITA Nos.750 to 751/SRT/2018 Assessment Years: (2013-14 to 2014-15) M/s. Mega Aims, Vs. The ACIT, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAQFM1615F (App…

M/S Rajendra Prasad Srivastava, Azamgarh vs. ACIT, Range - Azamgarh, Azamgarh

In the result, the appeal of the assessee is dismissed

ITA 164/VNS/2019[2013-2014]Status: DisposedITAT Varanasi07 Feb 2023AY 2013-2014

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 M/S Rajendra Prasad Srivastava, Vs. Asstt. Commissioner Of Income Sarfuddinpur, Near Railway Tax, Range-Azamgarh Station, Azamgarh-276001 Pan-Aakfr2986A (Appellant) (Respondent) Appellant By: Sh.Hari N. Singh Bisen, C.A. Respondent By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 11.01.2023 Date Of Pronouncement: 07.02.2023

For Appellant: Sh.Hari N. Singh Bisen, C.AFor Respondent: Sh. A.K. Singh, Sr. DR
Section 143(2)Section 145(3)

…ials including the want of a stock register, it is found that from the method of accounting the correct profits of the business are not deductible, the operation of section 145(3) of the Act would be attracted. It has been held in CIT v. McMillan & Co. [1958] 33 ITR 182 (SC) that a non- exercise of the power by the ITO under section 145(2) is also a decision inasmuch as it amounts to un acceptance of the method of accounting on the ground that the income, profits and gains can be properly deduced therefrom. It is therefore open to the AAC to reject the assessee's books of account which have been accepted by the I…

ITO, Ward-2(3)(7), Surat vs. Anshuman Ramdayalji Kumawat, Surat

In the result the ground No

ITA 22/SRT/2020[2009-10]Status: DisposedITAT Surat13 Jan 2023AY 2009-10

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

For Appellant: Shri Rohit Vijayvargiya, CAFor Respondent: Shri Ashok B. Koli, CIT(DR) with Shri Vinod Kumar
Section 132(4)Section 144

…k results are not showing true & correct picture leading to rejection of book results u/s. 145(3) of the Act (not mentioned explicity by the AO in the order but done impliedly by the AO). However, Hon'ble Supreme Court in the case of CIT Vs. Me. Millan & Co. (33 ITR 182) (SC) has long back laid down that CIT(A) has power to reject the books of accounts accepted by the Assessing officer. In view of this, I invoke the provision of sec. 145(3) of the Act and proceed to estimate the commission income on the impugned purchases amounting to Rs.2,01,61,565/-. 7.7 The entire carats of diamonds purchased from alleged thre…

ITO, Ward-2(3)(7), Surat vs. Anshuman Ramdayalji Kumawat, Surat

In the result the ground No

ITA 21/SRT/2020[2008-09]Status: DisposedITAT Surat13 Jan 2023AY 2008-09

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

For Appellant: Shri Rohit Vijayvargiya, CAFor Respondent: Shri Ashok B. Koli, CIT(DR) with Shri Vinod Kumar
Section 132(4)Section 144

…k results are not showing true & correct picture leading to rejection of book results u/s. 145(3) of the Act (not mentioned explicity by the AO in the order but done impliedly by the AO). However, Hon'ble Supreme Court in the case of CIT Vs. Me. Millan & Co. (33 ITR 182) (SC) has long back laid down that CIT(A) has power to reject the books of accounts accepted by the Assessing officer. In view of this, I invoke the provision of sec. 145(3) of the Act and proceed to estimate the commission income on the impugned purchases amounting to Rs.2,01,61,565/-. 7.7 The entire carats of diamonds purchased from alleged thre…

ITO, Ward 2(3)(8), Surat vs. Mukesh Mahavirprasad Sen, Surat

In the result the ground No

ITA 16/SRT/2020[2009-10]Status: DisposedITAT Surat13 Jan 2023AY 2009-10

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

For Appellant: Shri Rohit Vijayvargiya, CAFor Respondent: Shri Ashok B. Koli, CIT(DR) with Shri Vinod Kumar
Section 132(4)Section 144

…k results are not showing true & correct picture leading to rejection of book results u/s. 145(3) of the Act (not mentioned explicity by the AO in the order but done impliedly by the AO). However, Hon'ble Supreme Court in the case of CIT Vs. Me. Millan & Co. (33 ITR 182) (SC) has long back laid down that CIT(A) has power to reject the books of accounts accepted by the Assessing officer. In view of this, I invoke the provision of sec. 145(3) of the Act and proceed to estimate the commission income on the impugned purchases amounting to Rs.2,01,61,565/-. 7.7 The entire carats of diamonds purchased from alleged thre…

ITO, Ward 2(3)(8), Surat vs. Mukesh Mahavirprasad Sen, Surat

In the result the ground No

ITA 15/SRT/2020[2008-09]Status: DisposedITAT Surat13 Jan 2023AY 2008-09

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

For Appellant: Shri Rohit Vijayvargiya, CAFor Respondent: Shri Ashok B. Koli, CIT(DR) with Shri Vinod Kumar
Section 132(4)Section 144

…k results are not showing true & correct picture leading to rejection of book results u/s. 145(3) of the Act (not mentioned explicity by the AO in the order but done impliedly by the AO). However, Hon'ble Supreme Court in the case of CIT Vs. Me. Millan & Co. (33 ITR 182) (SC) has long back laid down that CIT(A) has power to reject the books of accounts accepted by the Assessing officer. In view of this, I invoke the provision of sec. 145(3) of the Act and proceed to estimate the commission income on the impugned purchases amounting to Rs.2,01,61,565/-. 7.7 The entire carats of diamonds purchased from alleged thre…

Income Tax Officer, Ward 2(3)(8), Surat vs. Shri Rajesh Kumar Pamecha, Ajmer

In the result the ground No

ITA 87/SRT/2017[2007-08]Status: DisposedITAT Surat13 Jan 2023AY 2007-08

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

For Appellant: Shri Rohit Vijayvargiya, CAFor Respondent: Shri Ashok B. Koli, CIT(DR) with Shri Vinod Kumar
Section 132(4)Section 144

…k results are not showing true & correct picture leading to rejection of book results u/s. 145(3) of the Act (not mentioned explicity by the AO in the order but done impliedly by the AO). However, Hon'ble Supreme Court in the case of CIT Vs. Me. Millan & Co. (33 ITR 182) (SC) has long back laid down that CIT(A) has power to reject the books of accounts accepted by the Assessing officer. In view of this, I invoke the provision of sec. 145(3) of the Act and proceed to estimate the commission income on the impugned purchases amounting to Rs.2,01,61,565/-. 7.7 The entire carats of diamonds purchased from alleged thre…

Siddharth Developers, Mumbai vs. Asstt Commissioner of Income Tax CC-5(3), Mumbai

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

ITA 707/MUM/2022[2017-18]Status: DisposedITAT Mumbai03 Jan 2023AY 2017-18

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blesiddharth Developers V. Acit – Central Circle – 5(3) 205 Commerce House Room No. 1906, 19Th Floor 140 N.M. Road, Fort Air India Building Nariman Point, Mumbai – 400 021 Mumbai - 400023 Pan: Abffs4068J (Appellant) (Respondent) Assessee Represented By : Shri Nishit Gandhi Department Represented By : Shri Salil Mishra

Section 142(1)Section 143(2)

…assessee liable to rejection on account of incorrectness or incompleteness or irregularity. Accordingly, the books of assessee is rejected as per Section 145 of the Act. In this regard, he relied on the following case laws: (i). CIT v. MC Millan & Co. [1958] 33 ITR 182 (ii). Kachwala Gems V. JCit [2007] 288 irt 10 (SC) (iii). Seth Nathuram Munalal v. CIT [1954] 25 otr 216 (NAG.) 13. With the above observations, and relying on various case law Assessing Officer made addition of ₹.16,55,47,243/-. 14. Aggrieved assessee, preferred an appeal before the Ld.CIT(A) and filed detailed submissions before the Ld.CIT(A).…

Bhavendra Hasmukhlal Patadia. Legal Heir of Hasmukhlal Patadia., Cuttack vs. ITO Ward-!(1), Cuttack

In the result, appeal of the assessee is allowed

ITA 125/CTK/2022[2015-16]Status: DisposedITAT Cuttack26 Dec 2022AY 2015-16

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita No.125/Ctk/2022 (ननधाारण वषा / Assessment Year :2015-2016) Bhavendra Hasmukhlal Patadia, Vs Ito, Ward-1(1), Cuttack Legal Heir Of Hasmukhlal Patadia, Nayabazar, Chauliaganj, Cuttack-753004 Pan No. :Adapp 6256 G (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) ननधााररती की ओर से /Assessee By : Shri Deepak Shah, Ar राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 26/12/2022 घोषणा की तारीख/Date Of Pronouncement : 26/12/2022 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld Pr.Cit, Cuttack, Passed In Itba/Com/F/17/2019-20/1026790827(1), Dated 19.03.2020, For The Assessment Year 2015-2016. Head On The Question Of Condonation Of Delay 2. On Perusal Of The Appeal Record, It Is Found That The Appeal Of The Assessee Is Barred By 784 Days. In This Regard, The Assessee Has Filed An Application For Condonation Of Delay Dated 11.07.2022 Along With Affidavit Stating Therein That Due To Continuous Lockdown On Account Of Spread Of Covid-19, The Assessee Could Not File The Present Appeal In Time, Therefore, He Prayed That Delay Of 784 Days In Filing The Present Appeal May Kindly Be Condoned. On The Other Hand, Ld. Cit-Dr Did Not Object To The Above Submission Of The Ld. Ar. Considering The Above, We Condone

For Appellant: Shri Deepak Shah, ARFor Respondent: Shri M.K.Gautam, CIT-DR
Section 143(3)Section 263

…आयकर अऩीऱीय अधधकरण, कटक न्यायऩीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK श्री जाजज माथन, न्याययक सदस्य एवं श्री अरुण खोड़पऩया ऱेखा सदस्य के समक्ष । BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI ARUN KHODPIA, ACCOUNTANT MEMBER आयकर अऩीऱ सं/ITA No.125/CTK/2022 (ननधाारण वषा / Assessment Year :2015-2016) Bhavendra Hasmukhlal Patadia, Vs ITO, Ward-1(1), Cuttack Legal heir of Hasmukhlal Patadia, Nayabazar, Chauliaganj, Cuttack-753004 PAN No. :ADAPP 6256 G (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) ननधााररती की ओर से /Assessee by : Shri Deepak Shah, AR राजस्व की ओर से /Revenue by : Shri…

Asstt. Commissioner of Income-Tax, Central Circle-2, Jaipur vs. Shri Chandra Surana, Jaipur

In the result, the appeal of the Revenue is dismissed

ITA 166/JPR/2022[2017-18]Status: DisposedITAT Jaipur15 Dec 2022AY 2017-18

Bench: Auditor. Any Stock Register Whatsoever Was Not Furnished During The Course Of Assessment Proceedings To Verify The Quantitative Sale Made During The Year Whether The Item Shown By The Assessee As Sold Was Actually In Stock Of The Assessee Or Not & Quantity & Value Of The Sale Shown Remains Unverified. 3. The Ld. Cit(A) Has Erred In Law & On Facts By Ignoring The Vital Fact.

For Appellant: Shri S.R. Sharma, CA &For Respondent: Shri Chanchal Meena, JCIT-DR
Section 115BSection 142(1)Section 143(2)Section 143(3)Section 68

…g the course of hearing, the ld. DR relied on the order of the AO and 2.3 prayed that the ld. CIT(A) is not justified in deleting the addition of Rs.2,90,93,500/-. To this effect, the ld.DR relied upon the following decisions. 1. CIT vs McMillan & Co. (1958) 33 ITR 182 (SC) 2. S.N. Namasivayam Chettiar vs CIT (1960) 38 ITR 579 (SC) 3. CIT vs Durga Prasad More (1971) 82 ITR 540 (SC) 4. Sumati Dayal vs CIT (1995) 214 ITR 801 (SC) 2.4 On the other hand, the ld. AR supported the order of the ld. CIT(A) and filed the filed the following written submission. Submission of assessee As ground NO., 1 to 3 of the departm…