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 367,154 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

Meenamani Ganga Builder LLP, Pune vs. Assistant Commissioner of Income Tax, Central Circle 2(3), Pune

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

ITA 872/PUN/2024[2018-19]Status: DisposedITAT Pune07 Feb 2025AY 2018-19

Bench: Shri R. K. Panda & Ms. Astha Chandra

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri Amol Kharnar CIT-DR
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER ITA Nos.871 to 873/PUN/2024 Assessment Years : 2017-18 to & 2019-20 Meenamani Ganga Builder LLP ACIT, San Mahu Complex, Office N5, Central Circle 2(3), Pune Vs. Bund Garden Road, Opp. Poona Club, Pune – 411001 PAN: AAUFM6455H (Appellant) (Respondent) Assessee by : Shri Neelesh Khandelwal Department by : Shri Amol Kharnar CIT-DR Date of hearing : 12-11-2024 Date of pronouncement : 07-02-2025 O R D E R PER R. K. PANDA, VP : The above three appeals filed by the assessee are d…

Sankalp in, Ahmedabad vs. The Asstt. Commissioner of Income Tax, Central Circle-1(2), Ahmedabad

In the result Revenue’s Ground Nos

ITA 577/AHD/2022[2019-20]Status: DisposedITAT Ahmedabad31 Jan 2025AY 2019-20

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri NARENDRA PRASAD SINHA (Accountant Member)

Section 132Section 69C

…only the profit element embedded therein can be added in the hands of the assessee. Reliance is placed on following decisions for the said legal proposition: * Sankalp Recreation P. Ltd. vs. ACIT – IT(SS)A 65/Ahd/2022; * CIT vs. President Industries – (2002) 258 ITR 654 (Guj.); * CIT vs. Balchand Ajit Kumar – (2003) 263 ITR 610 (MP); * CIT v. Gurubachhan Singh – (2008) 302 ITR 63 (Guj); * Man Mohan Sadani vs. CIT – (2008) 304 ITR 52 (MP); * CIT v. Samir Synthetics Mill – (2010) 326 ITR 410 (Guj); * DCIT v. Panna Corporation – Tax Appeal 323 of 2000 (Guj); * Chetan C. Patel v. ACIT – IT(SS)A 522/Ahd/2011 and othe…

The Asstt. Commissioner of Income Tax, Central Circle-1(2), Ahmedabad vs. Sankalp in, Ahmedabad

In the result Revenue's Ground Nos

ITA 568/AHD/2022[2019-20]Status: DisposedITAT Ahmedabad31 Jan 2025AY 2019-20

Bench: Shri T.R. SENTHIL KUMAR, Judicial Member\nAnd\nShri NARENDRA PRASAD SINHA (Accountant Member)

Section 132Section 69C

…only the profit element embedded therein can be added in the hands of the assessee. Reliance is placed on following decisions for the said legal proposition: * Sankalp Recreation P. Ltd. vs. ACIT – IT(SS)A 65/Ahd/2022; * CIT vs. President Industries – (2002) 258 ITR 654 (Guj.); * CIT vs. Balchand Ajit Kumar – (2003) 263 ITR 610 (MP); * CIT v. Gurubachhan Singh – (2008) 302 ITR 63 (Guj); * Man Mohan Sadani vs. CIT – (2008) 304 ITR 52 (MP); * CIT v. Samir Synthetics Mill – (2010) 326 ITR 410 (Guj); * DCIT v. Panna Corporation – Tax Appeal 323 of 2000 (Guj); * Chetan C. Patel v. ACIT – IT(SS)A 522/Ahd/2011 and othe…

The DCIT, Circle-4(1) (1), Ahmedabad vs. M/S. Shah Foils Pvt. Ltd., Ahmedabad

Appeal is partly allowed and the Revenue’s appeal is dismissed

ITA 1922/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad31 Jan 2025AY 2011-12

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar1. आयकर अपील सं /Ita No.1852/Ahd/2019 2. आयकर अपील सं /Ita No.1922/Ahd/2019 िनधा"रण वष" /Assessment Year : 2011-12 1. M/S.Shah Foils Ltd. 1. The Ito, Ward-4(1)(3) बनाम/ 26, Block-B, Galaxy Ahmedabad-380 015 V/S. Signature, Science City Rd Sola, Ahmedabad-380 060 2. The Ito, 2. M/S.Shah Foils Ltd. Ward-4(1)(3) 26, Block-B, Galaxy Ahmedabad-380 015 Signature, Science City Rd Sola, Ahmedabad-380 060 "थायी लेखा सं./Pan: Aaics 0490 F (अपीलाथ$/ Appellant) (%& यथ$/ Respondent) Assessee By : Shri K.C. Thaker, Ar Revenue By : Shri A.P. Singh, Cit-Dr सुनवाई की तारीख/Date Of Hearing : 28/01/2025 घोषणा की तारीख /Date Of Pronouncement: 31/01/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am: These Cross-Appeals By The Assessee & The Revenue Are Directed Against The Order Of The Commissioner Of Income Tax (Appeals)-8, Ahmedabad [Hereinafter Referred To As “Cit(A)”], Dated 23.10.2019, Arising Out Of The Assessment Order Dated 29.12.2017 Passed Under Section 143(3) Read

For Appellant: Shri K.C. Thaker, ARFor Respondent: Shri A.P. Singh, CIT-DR
Section 143(1)Section 143(3)Section 147Section 69A

…o admitted to making those cash payments and assessee’s regular business relationship with M/s. Paras Bhavani Steel Pvt. Ltd., indicating that there was opportunity for such transactions. However, relying on judicial precedents, such as, President Industries (258 ITR 654) and Panna Corporation (2012) 82 CCH 0266 (Guj.), the CIT(A) held that the entire amount of unaccounted sales could not be taxed as income. Instead, ITA Nos.1852/Ahd/2019 (By Assessee) & M/s.Shah Foils Ltd. vs. ITO Asst. Year : 2011-12 only the profit component embedded in those unaccounted sales should be brought to tax. The assessee’s declare…

M/S. Shah Foils Ltd., Ahmedabad vs. The ITO, Ward-4(1)(3), Ahmedabad

Appeal is partly allowed and the

ITA 1852/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad31 Jan 2025AY 2011-12
For Appellant: Shri K.C. Thaker, ARFor Respondent: Shri A.P. Singh, CIT-DR
Section 143(1)Section 143(3)Section 147Section 69A

…o admitted to making those cash payments and assessee's regular business relationship with M/s. Paras Bhavani Steel Pvt. Ltd., indicating that there was opportunity for such transactions. However, relying on judicial precedents, such as, President Industries (258 ITR 654) and Panna Corporation (2012) 82 CCH 0266 (Guj.), the CIT(A) held that the entire amount of unaccounted sales could not be taxed as income. Instead, ITA Nos.1852/Ahd/2019 (By Assessee) & ITA No.1922/Ahd/2019 (By Revenue) M/s.Shah Foils Ltd. vs. ITO Asst. Year: 2011-12 10 only the profit component embedded in those unaccounted sales should be brou…

DCIT Cent, Circle 1(3), Nagpur vs. Radhika Vegetable Oils Pvt Limited, Vizianagaram

In the result, appeal filed by the Revenue is dismissed

ITA 17/NAG/2024[2019-20]Status: DisposedITAT Nagpur27 Jan 2025AY 2019-20

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mukesh AgrawalFor Respondent: Shri Sandipkumar Salunke
Section 115BSection 132Section 143(3)Section 147Section 148Section 40A(3)Section 69A

…s and Tribunal to plead that net profit on such sales should be added to income. It is settled law that the entire undisclosed sales could not be treated as profit of the appellant. Hon'ble Gujarat High Court in the case of CIT V/s. President Industries Ltd. (258 ITR 654) has held that "addition cannot be of the entire undisclosed sale proceeds. Only the profit embedded in sale proceeds can be taxed. Similar view has been taken in following cases- a). Man Mohan Sadani v. CIT (304 ITR 0052) wherein following question of law was raised before the hon'ble Madhya Pradesh High Court- "(1) Whether, in the facts and cir…

Arjanbhai Nanubhai Patel, Ahmedabad vs. Income Tax Officer - Ward -2 TDS, Ahmedabad

In the result, the appeal of the Revenue is dismissed

ITA 483/AHD/2024[2022-23]Status: DisposedITAT Ahmedabad07 Jan 2025AY 2022-23

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

…s cannot be added. Rather, only the profit element embedded therein can be added in the hands of the assessee. The Ld. AR relied upon the following decisions:- Sankalp Recreation P. Ltd. Vs. ACIT – IT(SS)A No.65/Ahd/2022 CIT vs. President Industries (2002) – 258 ITR 654 (Guj) CIT vs. Balchand Ajit Kumar (2003) – 263 ITR 610 (MP) CIT vs. Gurubachhan Singh (2008) – 302 ITR 63 (Guj) Man Mohan Sadani vs. CIT (2008) – 304 ITR 52 (MP) CIT vs. Samir Synthetics Mill (2010) – 326 ITR 410 (Guj) DCIT vs. Panna Corporation – Tax Appeal 323 of 2000 (Guj) Chetan C. Patel vs. ACIT – IT(SS)A No.522/Ahd/2011 and others CIT vs. J…

DCIT, Central Circle- 4(3), Kolkata vs. Rajesh Jain, Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 1006/KOL/2024[2019-20]Status: DisposedITAT Kolkata17 Dec 2024AY 2019-20

Bench: Shri Rajesh Kumar, Am& Shri Pradip Kumar Choubey, Jm]

Section 132Section 132(4)Section 153A

…xed as income of assessee. The assessee relies on the judgement of ITAT, Ahmedabad Bench in case of DCIT Vs. Brijvasi Developers P. Ltd. ITA No. 290lAhdl2013 order dated 17-5-2017" f) The Hon'ble Gujrat High Court, in the case of CIT Vs. President Industries 158 CTR 372 (Guj)' had held the following: "It cannot be a matter of an argument that the amount of sales by itself cannot represent the income of the assessee who has not disclosed the sales. The sales only represented the price received by the seller of the goods for the acquisition of which it has already incurred the cost. It is the realisation of excess…

DCIT, CC-4(3), Kolkata vs. Rajesh Jain, Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 1005/KOL/2024[2018-19]Status: DisposedITAT Kolkata17 Dec 2024AY 2018-19

Bench: Shri Rajesh Kumar, Am& Shri Pradip Kumar Choubey, Jm]

Section 132Section 132(4)Section 153A

…xed as income of assessee. The assessee relies on the judgement of ITAT, Ahmedabad Bench in case of DCIT Vs. Brijvasi Developers P. Ltd. ITA No. 290lAhdl2013 order dated 17-5-2017" f) The Hon'ble Gujrat High Court, in the case of CIT Vs. President Industries 158 CTR 372 (Guj)' had held the following: "It cannot be a matter of an argument that the amount of sales by itself cannot represent the income of the assessee who has not disclosed the sales. The sales only represented the price received by the seller of the goods for the acquisition of which it has already incurred the cost. It is the realisation of excess…

Assistant Commissioner of Income-Tax, Madurai vs. Alba Industries Limited, Chennai

ITA 287/CHNY/2024[2019-20]Status: DisposedITAT Chennai26 Nov 2024AY 2019-20

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…o be supported by the decision of the Hon’ of the Ld. CIT(A) to be supported by the decision of the Hon’ of the Ld. CIT(A) to be supported by the decision of the Hon’ble Gujarat High Court in the case of High Court in the case of CIT Vs President Industries (258 ITR 654) CIT Vs President Industries (258 ITR 654) wherein it was held that t wherein it was held that the amount of receipts/ sales by itself he amount of receipts/ sales by itself would not represent the income of the assessee. For this, we gainfully rely on the represent the income of the assessee. For this, we gainfully rely on the represent the inc…

Assistant Commissioner of Income-Tax, Madurai vs. Alba Industries Limited, Chennai

ITA 286/CHNY/2024[2018-19]Status: DisposedITAT Chennai26 Nov 2024AY 2018-19

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…o be supported by the decision of the Hon’ of the Ld. CIT(A) to be supported by the decision of the Hon’ of the Ld. CIT(A) to be supported by the decision of the Hon’ble Gujarat High Court in the case of High Court in the case of CIT Vs President Industries (258 ITR 654) CIT Vs President Industries (258 ITR 654) wherein it was held that t wherein it was held that the amount of receipts/ sales by itself he amount of receipts/ sales by itself would not represent the income of the assessee. For this, we gainfully rely on the represent the income of the assessee. For this, we gainfully rely on the represent the inc…

Assistant Commissioner of Income-Tax, Madurai vs. Alba Industries Limited, Chennai

ITA 285/CHNY/2024[2017-18]Status: DisposedITAT Chennai26 Nov 2024AY 2017-18

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…o be supported by the decision of the Hon’ of the Ld. CIT(A) to be supported by the decision of the Hon’ of the Ld. CIT(A) to be supported by the decision of the Hon’ble Gujarat High Court in the case of High Court in the case of CIT Vs President Industries (258 ITR 654) CIT Vs President Industries (258 ITR 654) wherein it was held that t wherein it was held that the amount of receipts/ sales by itself he amount of receipts/ sales by itself would not represent the income of the assessee. For this, we gainfully rely on the represent the income of the assessee. For this, we gainfully rely on the represent the inc…

Assistant Commissioner of Income-Tax, Madurai vs. Alba Industries Limited, Chennai

ITA 283/CHNY/2024[2015-16]Status: DisposedITAT Chennai26 Nov 2024AY 2015-16

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…o be supported by the decision of the Hon’ of the Ld. CIT(A) to be supported by the decision of the Hon’ of the Ld. CIT(A) to be supported by the decision of the Hon’ble Gujarat High Court in the case of High Court in the case of CIT Vs President Industries (258 ITR 654) CIT Vs President Industries (258 ITR 654) wherein it was held that t wherein it was held that the amount of receipts/ sales by itself he amount of receipts/ sales by itself would not represent the income of the assessee. For this, we gainfully rely on the represent the income of the assessee. For this, we gainfully rely on the represent the inc…

Assistant Commissioner of Income-Tax, Madurai vs. Beach Minerals Sands Company, Tirunelveli

ITA 14/CHNY/2024[2014-15]Status: DisposedITAT Chennai26 Nov 2024AY 2014-15

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…/Chny/2024 (AYs 2013-14 & 2014-15) M/s.Beach Minerals Sands Co. :: 26 :: of 2.21% on such increased turnover. We find this action of the Ld. CIT(A) to be supported by the decision of the Hon’ble Gujarat High Court in the case of CIT Vs President Industries (258 ITR 654) wherein it was held that the amount of receipts/ sales by itself would not represent the income of the assessee. For this, we gainfully rely on the following findings of the Hon’ble High Court :- "3. Having perused the assessment order made by the Assessing Officer, the order made by the Commissioner (Appeals) and the Tribunal, we are satisfi…

Assistant Commissioner of Income-Tax, Madurai vs. Beach Minerals Sands Company, Tirunelveli

ITA 13/CHNY/2024[2013-14]Status: DisposedITAT Chennai26 Nov 2024AY 2013-14

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…/Chny/2024 (AYs 2013-14 & 2014-15) M/s.Beach Minerals Sands Co. :: 26 :: of 2.21% on such increased turnover. We find this action of the Ld. CIT(A) to be supported by the decision of the Hon’ble Gujarat High Court in the case of CIT Vs President Industries (258 ITR 654) wherein it was held that the amount of receipts/ sales by itself would not represent the income of the assessee. For this, we gainfully rely on the following findings of the Hon’ble High Court :- "3. Having perused the assessment order made by the Assessing Officer, the order made by the Commissioner (Appeals) and the Tribunal, we are satisfi…

Assistant Commissioner of Income-Tax, Madurai vs. Beach Minerals Sands Company, Tirunelveli

ITA 1474/CHNY/2023[2016-17]Status: DisposedITAT Chennai26 Nov 2024AY 2016-17

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…/Chny/2024 (AYs 2013-14 & 2014-15) M/s.Beach Minerals Sands Co. :: 26 :: of 2.21% on such increased turnover. We find this action of the Ld. CIT(A) to be supported by the decision of the Hon’ble Gujarat High Court in the case of CIT Vs President Industries (258 ITR 654) wherein it was held that the amount of receipts/ sales by itself would not represent the income of the assessee. For this, we gainfully rely on the following findings of the Hon’ble High Court :- "3. Having perused the assessment order made by the Assessing Officer, the order made by the Commissioner (Appeals) and the Tribunal, we are satisfi…

Assistant Commissioner of Income-Tax, Madurai vs. Beach Minerals Sands Company, Tirunelveli

ITA 1473/CHNY/2023[2015-16]Status: DisposedITAT Chennai26 Nov 2024AY 2015-16

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…/Chny/2024 (AYs 2013-14 & 2014-15) M/s.Beach Minerals Sands Co. :: 26 :: of 2.21% on such increased turnover. We find this action of the Ld. CIT(A) to be supported by the decision of the Hon’ble Gujarat High Court in the case of CIT Vs President Industries (258 ITR 654) wherein it was held that the amount of receipts/ sales by itself would not represent the income of the assessee. For this, we gainfully rely on the following findings of the Hon’ble High Court :- "3. Having perused the assessment order made by the Assessing Officer, the order made by the Commissioner (Appeals) and the Tribunal, we are satisfi…

Shivam Readymix Private Limited, Neemuch vs. The PCIT(Central), Jaipur

In the result, the appeal of the assessee is allowed

ITA 412/JPR/2024[2013-14]Status: DisposedITAT Jaipur12 Nov 2024AY 2013-14

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Tarun Mittal (C.A.)For Respondent: Ms. Alka Gautam (CIT)
Section 143(3)Section 153ASection 153DSection 263Section 69C

…d at the most, only the profit element embedded in such transactions can be disallowed. Thus, there is no question of applicability of provisions of 69C of the Act arises. In this regard, reliance is placed on: CIT Vs. President Industries, reported in (2002) 258 ITR 654, In this case, AO had made addition of the entire sum of the undisclosed sales found during the course of survey, which action of AO was quashed by ITAT by holding that entire sales could not have been added as the income of the assessee, but only to the estimated profits embedded in the sales for which the net profit rate was adopted on the supp…

Income Tax Officer, Gurgaon vs. Discoveri Media Group, Gurgaon

In the result, appeal of the Revenue is dismissed whereas the appeal of the assessee is partly allowed

ITA 678/DEL/2024[2014-15]Status: DisposedITAT Delhi12 Nov 2024AY 2014-15

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us[Assessment Year : 2014-15] Ito, Vs Discoveri Media Group, Gurgaon. 97B, Udyog Vihar, Phase-V, Gurgaon-122002. Pan-Aaifd8766G Appellant Respondent [Assessment Year : 2014-15] Discoveri Media Group Vs Ito, C/O-S.L.Poddar & Co., Ward-1(4), Gokul Apartment, E-3A, Kantichandra Gurugram. Road, Bani Park, Jaipur, Rajasthan-302016. Pan-Aaifd8766G Appellant Respondent [Assessment Year : 2015-16] Ito, Vs Discoveri Media Group, Gurgaon. 97B, Udyog Vihar, Phase-V, Gurgaon-122002. Pan-Aaifd8766G Appellant Respondent [Assessment Year : 2015-16] Discoveri Media Group, Vs Ito, 97B, Udyog Vihar, Phase-V, Ward-1(4), Gurgaon-122002. Gurugram. Pan-Aaifd8766G Appellant Respondent

Section 147Section 148Section 250

…ITA No.678/Del/2024 & Others IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “B” BENCH: NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI YOGESH KUMAR US, JUDICIAL MEMBER [Assessment Year : 2014-15] ITO, vs Discoveri Media Group, Gurgaon. 97B, Udyog Vihar, Phase-V, Gurgaon-122002. PAN-AAIFD8766G APPELLANT RESPONDENT [Assessment Year : 2014-15] Discoveri Media Group vs ITO, C/o-S.L.Poddar & Co., Ward-1(4), Gokul Apartment, E-3A, Kantichandra Gurugram. Road, Bani Park, Jaipur, Rajasthan-302016. PAN-AAIFD8766G APPELLANT RESPONDENT [Assessment Year : 2015-16] ITO, Vs Discoveri Media Group, Gurgaon. 97B,…

Income Tax Officer, Gurgaon vs. Discoveri Media Group, Gurgaon

In the result, appeal of the Revenue is dismissed whereas the appeal of the assessee is partly allowed

ITA 2438/DEL/2024[2015-16]Status: DisposedITAT Delhi12 Nov 2024AY 2015-16

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us[Assessment Year : 2014-15] Ito, Vs Discoveri Media Group, Gurgaon. 97B, Udyog Vihar, Phase-V, Gurgaon-122002. Pan-Aaifd8766G Appellant Respondent [Assessment Year : 2014-15] Discoveri Media Group Vs Ito, C/O-S.L.Poddar & Co., Ward-1(4), Gokul Apartment, E-3A, Kantichandra Gurugram. Road, Bani Park, Jaipur, Rajasthan-302016. Pan-Aaifd8766G Appellant Respondent [Assessment Year : 2015-16] Ito, Vs Discoveri Media Group, Gurgaon. 97B, Udyog Vihar, Phase-V, Gurgaon-122002. Pan-Aaifd8766G Appellant Respondent [Assessment Year : 2015-16] Discoveri Media Group, Vs Ito, 97B, Udyog Vihar, Phase-V, Ward-1(4), Gurgaon-122002. Gurugram. Pan-Aaifd8766G Appellant Respondent

Section 147Section 148Section 250

…ITA No.678/Del/2024 & Others IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “B” BENCH: NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI YOGESH KUMAR US, JUDICIAL MEMBER [Assessment Year : 2014-15] ITO, vs Discoveri Media Group, Gurgaon. 97B, Udyog Vihar, Phase-V, Gurgaon-122002. PAN-AAIFD8766G APPELLANT RESPONDENT [Assessment Year : 2014-15] Discoveri Media Group vs ITO, C/o-S.L.Poddar & Co., Ward-1(4), Gokul Apartment, E-3A, Kantichandra Gurugram. Road, Bani Park, Jaipur, Rajasthan-302016. PAN-AAIFD8766G APPELLANT RESPONDENT [Assessment Year : 2015-16] ITO, Vs Discoveri Media Group, Gurgaon. 97B,…