CIT v. President Industries

258 ITR 654High Court2002#148 most cited

What is CIT v. President Industries authority for?

When books of account are rejected and unaccounted sales or receipts are discovered, the income addition is restricted to the net profit element embedded in these undisclosed transactions, not the entire sale proceeds or receipts, especially if corresponding purchases are not proven to be outside the books.

471

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2008 to 2026.

Also referred to as

CIT v. President Industries · 258 ITR 654 · Gujarat High Court · rejection of books of account · unaccounted sales · undisclosed sales · on-money receipts · profit element · net profit embedded · section 145(3) · section 132 · section 153A

Also reported as

124 Taxmann 654158 CTR 372134 TTJ 129

Sections most often in play

Section 143(3)Section 147Section 132Section 148Section 153ASection 115BBESection 142(1)Section 133A

Issues it is cited on

section 256(1)on money receiptsection 256project completion methodsurrender of incomeon-moneysection 69bsection 292crejection of books of accountloose paperssection 145(3)retracted statement

Judgments citing CIT v. President Industries

DCIT, Central Circle 1, Rajkot vs. Radhe Developers, Rajkot

ITA 687/RJT/2024[2017-18]Status: DisposedITAT Rajkot10 Mar 2026AY 2017-18

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं/.Ita No. 549 & 550/Rjt/2024 िनधा"रणवष"/ Assessment Year: 2017-18 & 2018-19 (Hybrid Hearing) Radhe Developers Vs The Deputy Commissioner Of Income Tax, Central-1 . Office No. 47, Ankur Commercial Center, Opp. Income Tax Office, Amruta Swaminarayan Gurukul, Estate Building, Near Girnar Gondal Road, Rajkot Cinema, M G Road, Rajkot Rajkot-360001 Rajkot-360001 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aatfr3387E (अपीलाथ"/Appellant) (""थ"/Respondent)

For Appellant: Shri D.M. Rindani, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 132Section 133ASection 143(3)Section 147

…gard to the surrounding circumstances, ground realities, corroborative evidence in the form of profits shown in comparative cases and other factors that are relevant to determine the real income of the appellant. In case of CIT v. President Industries (2002) 258 ITR 654 (Guj), Honble Gujarat High Court held that where unaccounted sales were revealed during course of survey, entire sale proceeds cannot be added as undisclosed income of the assessee, but addition could only be to the extent of profit embedded in sales. It was further observed by Honble High Court that entire amount of sales could not represent the…

Radhe Developers, Rajkot vs. The Deputy Commissioner of Income Tax, Central -1, Rajkot

ITA 550/RJT/2024[2018-19]Status: DisposedITAT Rajkot10 Mar 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं/.Ita No. 549 & 550/Rjt/2024 िनधा"रणवष"/ Assessment Year: 2017-18 & 2018-19 (Hybrid Hearing) Radhe Developers Vs The Deputy Commissioner Of Income Tax, Central-1 . Office No. 47, Ankur Commercial Center, Opp. Income Tax Office, Amruta Swaminarayan Gurukul, Estate Building, Near Girnar Gondal Road, Rajkot Cinema, M G Road, Rajkot Rajkot-360001 Rajkot-360001 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aatfr3387E (अपीलाथ"/Appellant) (""थ"/Respondent)

For Appellant: Shri D.M. Rindani, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 132Section 133ASection 143(3)Section 147

…gard to the surrounding circumstances, ground realities, corroborative evidence in the form of profits shown in comparative cases and other factors that are relevant to determine the real income of the appellant. In case of CIT v. President Industries (2002) 258 ITR 654 (Guj), Honble Gujarat High Court held that where unaccounted sales were revealed during course of survey, entire sale proceeds cannot be added as undisclosed income of the assessee, but addition could only be to the extent of profit embedded in sales. It was further observed by Honble High Court that entire amount of sales could not represent the…

Radhe Developers, Rajkot vs. The Deputy Commissioner of Income Tax, Central-1, Rajkot

ITA 549/RJT/2024[2017-18]Status: DisposedITAT Rajkot10 Mar 2026AY 2017-18

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं/.Ita No. 549 & 550/Rjt/2024 िनधा"रणवष"/ Assessment Year: 2017-18 & 2018-19 (Hybrid Hearing) Radhe Developers Vs The Deputy Commissioner Of Income Tax, Central-1 . Office No. 47, Ankur Commercial Center, Opp. Income Tax Office, Amruta Swaminarayan Gurukul, Estate Building, Near Girnar Gondal Road, Rajkot Cinema, M G Road, Rajkot Rajkot-360001 Rajkot-360001 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aatfr3387E (अपीलाथ"/Appellant) (""थ"/Respondent)

For Appellant: Shri D.M. Rindani, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 132Section 133ASection 143(3)Section 147

…gard to the surrounding circumstances, ground realities, corroborative evidence in the form of profits shown in comparative cases and other factors that are relevant to determine the real income of the appellant. In case of CIT v. President Industries (2002) 258 ITR 654 (Guj), Honble Gujarat High Court held that where unaccounted sales were revealed during course of survey, entire sale proceeds cannot be added as undisclosed income of the assessee, but addition could only be to the extent of profit embedded in sales. It was further observed by Honble High Court that entire amount of sales could not represent the…

DCIT, Central Circle 1, Rajkot vs. Krishna Developers, Rajkot

ITA 688/RJT/2024[2018-19]Status: DisposedITAT Rajkot09 Mar 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri D.M. Rindani, Ld. ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 132Section 133ASection 143(3)Section 147Section 250

…egard to the surrounding circumstances, ground realities, corroborative evidence in the form of profits shown in comparative cases and other factors that are relevant to determine the real income of the appellant. In case of CIT v. President Industries (2002) 258 ITR 654 (Guj) Honble Gujarat High Court held that where unaccounted sales were revealed during course of survey, entire sale proceeds cannot be added as undisclosed income of the assessee, but addition could only be to the extent of profit embedded in sales. It was further observed by Honble High Court that entire amount of sales could not represent the…

Krishna Developers, Rajkot vs. Deputy Commissioner of Income Tax, Central 1, Rajkot

ITA 544/RJT/2024[2019-20]Status: DisposedITAT Rajkot09 Mar 2026AY 2019-20

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri D.M. Rindani, Ld. ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 132Section 133ASection 143(3)Section 147Section 250

…egard to the surrounding circumstances, ground realities, corroborative evidence in the form of profits shown in comparative cases and other factors that are relevant to determine the real income of the appellant. In case of CIT v. President Industries (2002) 258 ITR 654 (Guj) Honble Gujarat High Court held that where unaccounted sales were revealed during course of survey, entire sale proceeds cannot be added as undisclosed income of the assessee, but addition could only be to the extent of profit embedded in sales. It was further observed by Honble High Court that entire amount of sales could not represent the…

Krishna Developers, Rajkot vs. The Deputy Commissioner of Income Tax, Central-1, Rajkot

ITA 543/RJT/2024[2018-19]Status: DisposedITAT Rajkot09 Mar 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri D.M. Rindani, Ld. ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 132Section 133ASection 143(3)Section 147Section 250

…egard to the surrounding circumstances, ground realities, corroborative evidence in the form of profits shown in comparative cases and other factors that are relevant to determine the real income of the appellant. In case of CIT v. President Industries (2002) 258 ITR 654 (Guj) Honble Gujarat High Court held that where unaccounted sales were revealed during course of survey, entire sale proceeds cannot be added as undisclosed income of the assessee, but addition could only be to the extent of profit embedded in sales. It was further observed by Honble High Court that entire amount of sales could not represent the…

DCIT, Central Cirlcle 1, Rajkot vs. Buildcon Creations LLP, Rajkot

ITA 679/RJT/2024[2022-23]Status: DisposedITAT Rajkot27 Feb 2026AY 2022-23

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 539 To 542/Rjt/2024 (Assessment Year: 2019-20 To 2022-23) (Hybrid Hearing)

For Appellant: Shri D.M. Rindani / Ms. Devina Patel, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 147

…I.T.A Nos. 539 to 542, 676 to 679/Rjt/2024 A.Y. 2019-20 to 2022-23 Buildcon Creations LLP IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos. 539 to 542/RJT/2024 (Assessment Year: 2019-20 to 2022-23) (Hybrid Hearing) Buildcon Associates, Vs. Deputy CIT, Trinaty Tower Ground Floor, Central Circle-1 Raiya Main Road, Near Salus Rajkot Hospital, Rajkot, Gujarat 360007 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AASFB7723K (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./ITA Nos. 676 to 679/RJT/2024 (A…

DCIT, Central Circle 1, Rajkot vs. Buildcon Creations LLP, Rajkot

ITA 678/RJT/2024[2021-22]Status: DisposedITAT Rajkot27 Feb 2026AY 2021-22

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 539 To 542/Rjt/2024 (Assessment Year: 2019-20 To 2022-23) (Hybrid Hearing)

For Appellant: Shri D.M. Rindani / Ms. Devina Patel, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 147

…I.T.A Nos. 539 to 542, 676 to 679/Rjt/2024 A.Y. 2019-20 to 2022-23 Buildcon Creations LLP IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos. 539 to 542/RJT/2024 (Assessment Year: 2019-20 to 2022-23) (Hybrid Hearing) Buildcon Associates, Vs. Deputy CIT, Trinaty Tower Ground Floor, Central Circle-1 Raiya Main Road, Near Salus Rajkot Hospital, Rajkot, Gujarat 360007 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AASFB7723K (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./ITA Nos. 676 to 679/RJT/2024 (A…

DCIT, Central Circle-1, Rajkot vs. Buildcon Creations LLP, Rajkot

ITA 677/RJT/2024[2020-21]Status: DisposedITAT Rajkot27 Feb 2026AY 2020-21

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 539 To 542/Rjt/2024 (Assessment Year: 2019-20 To 2022-23) (Hybrid Hearing)

For Appellant: Shri D.M. Rindani / Ms. Devina Patel, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 147

…I.T.A Nos. 539 to 542, 676 to 679/Rjt/2024 A.Y. 2019-20 to 2022-23 Buildcon Creations LLP IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos. 539 to 542/RJT/2024 (Assessment Year: 2019-20 to 2022-23) (Hybrid Hearing) Buildcon Associates, Vs. Deputy CIT, Trinaty Tower Ground Floor, Central Circle-1 Raiya Main Road, Near Salus Rajkot Hospital, Rajkot, Gujarat 360007 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AASFB7723K (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./ITA Nos. 676 to 679/RJT/2024 (A…

DCIT, Central Circle 1, Rajkot vs. Buildcon Creations LLP, Rajkot

ITA 676/RJT/2024[2019-20]Status: DisposedITAT Rajkot27 Feb 2026AY 2019-20

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 539 To 542/Rjt/2024 (Assessment Year: 2019-20 To 2022-23) (Hybrid Hearing)

For Appellant: Shri D.M. Rindani / Ms. Devina Patel, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 147

…I.T.A Nos. 539 to 542, 676 to 679/Rjt/2024 A.Y. 2019-20 to 2022-23 Buildcon Creations LLP IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos. 539 to 542/RJT/2024 (Assessment Year: 2019-20 to 2022-23) (Hybrid Hearing) Buildcon Associates, Vs. Deputy CIT, Trinaty Tower Ground Floor, Central Circle-1 Raiya Main Road, Near Salus Rajkot Hospital, Rajkot, Gujarat 360007 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AASFB7723K (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./ITA Nos. 676 to 679/RJT/2024 (A…

Shiv Enterprise, Rajkot vs. The Deuty Commissioner of Income Tax, Central - 1, Rajkot

ITA 616/RJT/2024[2020-21]Status: DisposedITAT Rajkot27 Feb 2026AY 2020-21

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri D.M. Rindani & Ms. Devina Patel Ld. ARsFor Respondent: Shri Abhimanyu Singh Yadav, Ld. SR. DR
Section 132Section 133ASection 143(3)Section 147

…ITA Nos. 613 to 616/Rjt/2024 – A.Ys. 2017-18 to 2020-21 (Shiv Enterprise vs. DCIT) आयकर अपीलीय अिधकरण, राजकोट "ायपीठ, राजकोट। IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT Before Dr. Arjun Lal Saini, Accountant Member And Dr. Dinesh Mohan Sinha, Judicial Member आयकर अपील सं/.ITA No.613 to 616/RJT/2024 िनधा"रण वष"/ Assessment Year: (2017-2018 to 2020-21) बनाम Shiv Enterprise The Deputy Commissioner of Income Tax Office No. 47, Ankur Commercial Vs. Center, Opp. Swaminarayn Gurukal, Central -1, Rajkot Gondal Road, Rajkot 360002, (Gujrat) Income Tax Office, Amruta Estate Building, Near Girnar Cinema, M…

Shiv Enterprise, Rajkot vs. The Deputy Commissioner of Income Tax, Central-1, Rajkot

ITA 615/RJT/2024[2019-20]Status: DisposedITAT Rajkot27 Feb 2026AY 2019-20

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri D.M. Rindani & Ms. Devina Patel Ld. ARsFor Respondent: Shri Abhimanyu Singh Yadav, Ld. SR. DR
Section 132Section 133ASection 143(3)Section 147

…ITA Nos. 613 to 616/Rjt/2024 – A.Ys. 2017-18 to 2020-21 (Shiv Enterprise vs. DCIT) आयकर अपीलीय अिधकरण, राजकोट "ायपीठ, राजकोट। IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT Before Dr. Arjun Lal Saini, Accountant Member And Dr. Dinesh Mohan Sinha, Judicial Member आयकर अपील सं/.ITA No.613 to 616/RJT/2024 िनधा"रण वष"/ Assessment Year: (2017-2018 to 2020-21) बनाम Shiv Enterprise The Deputy Commissioner of Income Tax Office No. 47, Ankur Commercial Vs. Center, Opp. Swaminarayn Gurukal, Central -1, Rajkot Gondal Road, Rajkot 360002, (Gujrat) Income Tax Office, Amruta Estate Building, Near Girnar Cinema, M…

Shiv Enterprise, Rajkot vs. The Deputy Commissioner of Income Tax, Central -1, Rajkot

ITA 614/RJT/2024[2018-19]Status: DisposedITAT Rajkot27 Feb 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri D.M. Rindani & Ms. Devina Patel Ld. ARsFor Respondent: Shri Abhimanyu Singh Yadav, Ld. SR. DR
Section 132Section 133ASection 143(3)Section 147

…ITA Nos. 613 to 616/Rjt/2024 – A.Ys. 2017-18 to 2020-21 (Shiv Enterprise vs. DCIT) आयकर अपीलीय अिधकरण, राजकोट "ायपीठ, राजकोट। IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT Before Dr. Arjun Lal Saini, Accountant Member And Dr. Dinesh Mohan Sinha, Judicial Member आयकर अपील सं/.ITA No.613 to 616/RJT/2024 िनधा"रण वष"/ Assessment Year: (2017-2018 to 2020-21) बनाम Shiv Enterprise The Deputy Commissioner of Income Tax Office No. 47, Ankur Commercial Vs. Center, Opp. Swaminarayn Gurukal, Central -1, Rajkot Gondal Road, Rajkot 360002, (Gujrat) Income Tax Office, Amruta Estate Building, Near Girnar Cinema, M…

Shiv Enterprise, Rajkot vs. The Deputy Commissioner of Income Tax, Central 1, Rajkot

ITA 613/RJT/2024[2017-18]Status: DisposedITAT Rajkot27 Feb 2026AY 2017-18

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri D.M. Rindani & Ms. Devina Patel Ld. ARsFor Respondent: Shri Abhimanyu Singh Yadav, Ld. SR. DR
Section 132Section 133ASection 143(3)Section 147

…ITA Nos. 613 to 616/Rjt/2024 – A.Ys. 2017-18 to 2020-21 (Shiv Enterprise vs. DCIT) आयकर अपीलीय अिधकरण, राजकोट "ायपीठ, राजकोट। IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT Before Dr. Arjun Lal Saini, Accountant Member And Dr. Dinesh Mohan Sinha, Judicial Member आयकर अपील सं/.ITA No.613 to 616/RJT/2024 िनधा"रण वष"/ Assessment Year: (2017-2018 to 2020-21) बनाम Shiv Enterprise The Deputy Commissioner of Income Tax Office No. 47, Ankur Commercial Vs. Center, Opp. Swaminarayn Gurukal, Central -1, Rajkot Gondal Road, Rajkot 360002, (Gujrat) Income Tax Office, Amruta Estate Building, Near Girnar Cinema, M…

Buildcon Creations LLP, Rajkot vs. The Deputy Commissioner of Income Tax, Central-1, Rajkot

ITA 542/RJT/2024[2022-23]Status: DisposedITAT Rajkot27 Feb 2026AY 2022-23

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 539 To 542/Rjt/2024 (Assessment Year: 2019-20 To 2022-23) (Hybrid Hearing)

For Appellant: Shri D.M. Rindani / Ms. Devina Patel, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 147

…I.T.A Nos. 539 to 542, 676 to 679/Rjt/2024 A.Y. 2019-20 to 2022-23 Buildcon Creations LLP IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos. 539 to 542/RJT/2024 (Assessment Year: 2019-20 to 2022-23) (Hybrid Hearing) Buildcon Associates, Vs. Deputy CIT, Trinaty Tower Ground Floor, Central Circle-1 Raiya Main Road, Near Salus Rajkot Hospital, Rajkot, Gujarat 360007 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AASFB7723K (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./ITA Nos. 676 to 679/RJT/2024 (A…

Buildcon Creations LLP, Rajkot vs. The Deputy Commissioner of Income Tax, Central -1, Rajkot

ITA 541/RJT/2024[2021-22]Status: DisposedITAT Rajkot27 Feb 2026AY 2021-22

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 539 To 542/Rjt/2024 (Assessment Year: 2019-20 To 2022-23) (Hybrid Hearing)

For Appellant: Shri D.M. Rindani / Ms. Devina Patel, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 147

…I.T.A Nos. 539 to 542, 676 to 679/Rjt/2024 A.Y. 2019-20 to 2022-23 Buildcon Creations LLP IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos. 539 to 542/RJT/2024 (Assessment Year: 2019-20 to 2022-23) (Hybrid Hearing) Buildcon Associates, Vs. Deputy CIT, Trinaty Tower Ground Floor, Central Circle-1 Raiya Main Road, Near Salus Rajkot Hospital, Rajkot, Gujarat 360007 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AASFB7723K (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./ITA Nos. 676 to 679/RJT/2024 (A…

Buildcon Creations LLP, Rajkot vs. The Deputy Commissioner of Income Tax, Central -1, Rajkot

ITA 540/RJT/2024[2020-21]Status: DisposedITAT Rajkot27 Feb 2026AY 2020-21

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 539 To 542/Rjt/2024 (Assessment Year: 2019-20 To 2022-23) (Hybrid Hearing)

For Appellant: Shri D.M. Rindani / Ms. Devina Patel, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 147

…I.T.A Nos. 539 to 542, 676 to 679/Rjt/2024 A.Y. 2019-20 to 2022-23 Buildcon Creations LLP IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos. 539 to 542/RJT/2024 (Assessment Year: 2019-20 to 2022-23) (Hybrid Hearing) Buildcon Associates, Vs. Deputy CIT, Trinaty Tower Ground Floor, Central Circle-1 Raiya Main Road, Near Salus Rajkot Hospital, Rajkot, Gujarat 360007 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AASFB7723K (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./ITA Nos. 676 to 679/RJT/2024 (A…

Buildcon Creations LLP, Rajkot vs. The Deputy Commissioner of Income Tax, Central -1, Rajkot

ITA 539/RJT/2024[2019-20]Status: DisposedITAT Rajkot27 Feb 2026AY 2019-20

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos. 539 To 542/Rjt/2024 (Assessment Year: 2019-20 To 2022-23) (Hybrid Hearing)

For Appellant: Shri D.M. Rindani / Ms. Devina Patel, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 147

…I.T.A Nos. 539 to 542, 676 to 679/Rjt/2024 A.Y. 2019-20 to 2022-23 Buildcon Creations LLP IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos. 539 to 542/RJT/2024 (Assessment Year: 2019-20 to 2022-23) (Hybrid Hearing) Buildcon Associates, Vs. Deputy CIT, Trinaty Tower Ground Floor, Central Circle-1 Raiya Main Road, Near Salus Rajkot Hospital, Rajkot, Gujarat 360007 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AASFB7723K (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./ITA Nos. 676 to 679/RJT/2024 (A…

K V Tex Firm, Chennai vs. Asst. Commissioner of Income Tax, Chennai

In the result, all the three appeals of the assessee stand allowed

ITA 1860/CHNY/2025[2020-21]Status: DisposedITAT Chennai04 Feb 2026AY 2020-21

Bench: Shri George George K & Shri S.R. Raghunatha

For Appellant: Shri. D. Anand, AdvocateFor Respondent: Shri. Shiva Srinivas, CIT
Section 132Section 139(1)Section 143Section 147Section 44A

…ded therein could be brought to tax as income. In support of the said contention, the Assessee filed a sworn affidavit and placed reliance on binding judicial precedents, including the decision of the Hon’ble Gujarat High Court in CIT v. President Industries (258 ITR 654). The AO, however, rejected the Assessee’s explanation and proceeded on the premise that only sales had been suppressed, while purchases and all other :-6-: ITA. Nos:1859, 1860 & 1865/Chny/2025 components of the trading account stood recorded and unaltered in the system. On that basis, the Assessing Officer concluded that the entire difference…

Gunasekaran Mannar, Villupuram vs. Asst. Commissioner of Income Tax, Chennai

In the result, all the appeals filed by the assessee are allowed

ITA 1864/CHNY/2025[2018-19]Status: DisposedITAT Chennai22 Jan 2026AY 2018-19

Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. Nos.1863, 1864, 1855, 1856, 1857 & 1858/Chny/2025 िनधा"रण वष"/Assessment Years: 2017-18, 2018-19, 2019-20, 2020-21, 2021-22 & 2022-23 Gunasekaran Mannar, Vs. The Assistant Commissioner Of No. 91, Kamaraj Street, Income Tax, Villupuram 605 602, Villupuram. Central Circle 1(1), Chennai. [Pan:Aacpg0230G] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri D. Anand, Advocate ""थ" की ओर से/Respondent By : Shri Shiva Srinivas, Cit सुनवाई की तारीख/ Date Of Hearing : 29.10.2025 घोषणा की तारीख /Date Of Pronouncement : 22.01.2026 आदेश /O R D E R Per Bench: These Six Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 24.04.2025 Passed By The Ld. Commissioner Of Income Tax (Appeals) - 18, Chennai For The Assessment Years 2017-18, 2018-19, 2019-20, 2020-21, 2021-22 & 2022-23. 2. Since, The Issues Raised In These Appeals Are Similar Based On The Same Identical Facts, With The Consent Of Both The Parties, We Proceed To 2

For Appellant: Shri D. Anand, AdvocateFor Respondent: Shri Shiva Srinivas, CIT
Section 115BSection 132Section 139(1)Section 147Section 148

…rt price revision. 24. Further, we find the assessee contended that even assuming any suppressed turnover, only the gross profit element thereon could be added as income, supporting the same, relied on the decision in the case of CIT v. President Industries (258 ITR 654) of Hon’ble High Court of Gujarat. The AO rejected the assessee's explanation and concluded that only sales were suppressed, while purchases and all other components of the trading account remained recorded and unaltered in the system. Therefore, the AO held that the entire difference in sales represented undisclosed income under section 69A, and…