CIT v. Pacts Securities and Financial Services Ltd.

374 ITR 681High Court2015#14110 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2025.

Issues it is cited on

section 23aretention moneysection 145(1)section 211section 115baasection 28(iv)section 145(2)project completion methodsection 43csection 35dpercentage completion methodsection 129

Judgments citing CIT v. Pacts Securities and Financial Services Ltd.

DCIT, Circle-7(1), Delhi vs. Dlf Limited, Delhi

In the result, appeal of the Revenue is dismissed

ITA 715/DEL/2024[2021-22]Status: DisposedITAT Delhi30 Oct 2025AY 2021-22

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…tified by the following decisions:  Prakash Leasing Ltd. Vs DCIT [2012] 208 Taxman 464 (2013)(Karnataka) (refer Page 297-309 of Paper Book Vol-2)  Commissioner of Income Tax and others Vs Pact Securities and Financial Services and others reported in (2015), 374 ITR 681 (AP) (refer Page 310-319 of Paper Book Vol-2)  In the case of CIT v. Insilco Ltd [2009] 179 Taxman 55 [Delhi HC], (refer Page 320-332 of Paper Book Vol-2)where pursuant to the change in Accounting Standard - 2, the assessee capitalized the cost of spares and claimed depreciation on the said capitalized value, the jurisdictional ITA No.713/Del/20…

DCIT, Circle-7(1), Delhi vs. Dlf Limited, Delhi

In the result, appeal of the Revenue is dismissed

ITA 714/DEL/2024[2020-21]Status: DisposedITAT Delhi30 Oct 2025AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…tified by the following decisions:  Prakash Leasing Ltd. Vs DCIT [2012] 208 Taxman 464 (2013)(Karnataka) (refer Page 297-309 of Paper Book Vol-2)  Commissioner of Income Tax and others Vs Pact Securities and Financial Services and others reported in (2015), 374 ITR 681 (AP) (refer Page 310-319 of Paper Book Vol-2)  In the case of CIT v. Insilco Ltd [2009] 179 Taxman 55 [Delhi HC], (refer Page 320-332 of Paper Book Vol-2)where pursuant to the change in Accounting Standard - 2, the assessee capitalized the cost of spares and claimed depreciation on the said capitalized value, the jurisdictional ITA No.713/Del/20…

DCIT, Circle-7(1), Delhi vs. Dlf Limited, Delhi

In the result, appeal of the Revenue is dismissed

ITA 713/DEL/2024[2019-20]Status: DisposedITAT Delhi30 Oct 2025AY 2019-20

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…tified by the following decisions:  Prakash Leasing Ltd. Vs DCIT [2012] 208 Taxman 464 (2013)(Karnataka) (refer Page 297-309 of Paper Book Vol-2)  Commissioner of Income Tax and others Vs Pact Securities and Financial Services and others reported in (2015), 374 ITR 681 (AP) (refer Page 310-319 of Paper Book Vol-2)  In the case of CIT v. Insilco Ltd [2009] 179 Taxman 55 [Delhi HC], (refer Page 320-332 of Paper Book Vol-2)where pursuant to the change in Accounting Standard - 2, the assessee capitalized the cost of spares and claimed depreciation on the said capitalized value, the jurisdictional ITA No.713/Del/20…

Dlf Limited, Delhi vs. National Faceless Assessment Centre, Delhi

In the result, appeal of the Revenue is dismissed

ITA 677/DEL/2024[2021-22]Status: DisposedITAT Delhi30 Oct 2025AY 2021-22

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…tified by the following decisions:  Prakash Leasing Ltd. Vs DCIT [2012] 208 Taxman 464 (2013)(Karnataka) (refer Page 297-309 of Paper Book Vol-2)  Commissioner of Income Tax and others Vs Pact Securities and Financial Services and others reported in (2015), 374 ITR 681 (AP) (refer Page 310-319 of Paper Book Vol-2)  In the case of CIT v. Insilco Ltd [2009] 179 Taxman 55 [Delhi HC], (refer Page 320-332 of Paper Book Vol-2)where pursuant to the change in Accounting Standard - 2, the assessee capitalized the cost of spares and claimed depreciation on the said capitalized value, the jurisdictional ITA No.713/Del/20…

Dlf Limited, Delhi vs. National Faceless Assessment Centre, Delhi

In the result, appeal of the Revenue is dismissed

ITA 676/DEL/2024[2020-21]Status: DisposedITAT Delhi30 Oct 2025AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…tified by the following decisions:  Prakash Leasing Ltd. Vs DCIT [2012] 208 Taxman 464 (2013)(Karnataka) (refer Page 297-309 of Paper Book Vol-2)  Commissioner of Income Tax and others Vs Pact Securities and Financial Services and others reported in (2015), 374 ITR 681 (AP) (refer Page 310-319 of Paper Book Vol-2)  In the case of CIT v. Insilco Ltd [2009] 179 Taxman 55 [Delhi HC], (refer Page 320-332 of Paper Book Vol-2)where pursuant to the change in Accounting Standard - 2, the assessee capitalized the cost of spares and claimed depreciation on the said capitalized value, the jurisdictional ITA No.713/Del/20…

The DCIT, Circle-1(1)(1), Ahmedabad vs. Arcoy Inustries(India) Pvt. Ltd., Ahmedabad

In the result, revenue’s appeal is dismissed

ITA 1770/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad24 Jan 2019AY 2012-13

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri Vinod Talwani, Sr.D.RFor Respondent: Shri P.M. Mehta and G. M. Thakor, A.R
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 145ASection 14A

…r find that on the issue of Guidance Notes and Accounting Standards issued by the" Institute of Chartered Accountant of India, the High Court of Telengana and Andhra Pradesh High Court in the case of CIT vs. Pacts Securities and Financial Services Ltd. (2015) 374 ITR 681 (T & A.P) at para 13 DCIT vs. Arcoy Industries (Ind) Pvt. Ltd. Asst.Year – 2012-13 has noted that the merely because the Central Government has not. A.Y. 2005-06 notified in the Official Gazette "accounting standards" to be followed by any class of assessees or in respect of any class of income, It cannot be stated that the Accounting Standards p…

Commissioner of Income Tax Delhi vs. M/S Mgf India Ltd

ITA/378/2004HC Delhi21 Feb 2018

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 115JSection 260A

…sioner of Income Tax v. Indian Railway Finance Corp. Ltd (2014) 362 ITR 548; Commissioner of Income Tax v. ICICI Ventures Funds Management Co. Ltd 2015 234 Taxman 569 (Karn); Commissioner of Income Tax v. Pact Securities and Financial Services Ltd (2015) 374 ITR 681 (AP & T) and Commissioner of Income Tax v. Sun Pharmaceutical Industries Ltd. 2016 (240) Taxman 686 (Guj). Counsel submitted that the amount is nothing but the difference between the statutory ITA 378/2004 & ITA 76/2007 Page 7 of 10 depreciation on rentals and the recovery of cost of capital. Therefore, merely because it entered in th…

CIT v. Pacts Securities and Financial Services Ltd. (374 ITR 681) — Cited in 7 Judgments | BharatTax