CIT v. R. Narayanrao

338 ITR 625High Court2011#15714 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2020.

Judgments citing CIT v. R. Narayanrao

TALASANI SHANKAR RAO YADAV,SECUNDRABAD vs. INCOME TAX OFFICER, WARD-10(4), HYDERABAD

In the result, assessee’s appeal is allowed

ITA 1354/HYD/2018[2014-15]Status: DisposedITAT Hyderabad29 Oct 2020AY 2014-15

Bench: Smt. P. Madhavi Devi(Through Virtual Hearinig) Assessment Year:2014-15 Sh. Talasani Shankar Rao Vs. Ito, Ward 10(4) Yadav Hyderabad. Hyderabad. Pan: Abspt3247R (Appellant) (Respondent) Assessee By: Sri B. Prabhakar, Ar Revenue By: Sri Sunil Kumar Pandey, Dr Date Of Hearing: 29/10/2020 Date Of Pronouncement: 29/10/2020 Order This Is Assessee’S Appeal For A.Y. 2014-15 Against The Order Of Cit(A)-6, Hyderabad Dated 27.04.2018. This Case Was Taken Up For Hearing Through Video Conferencing On 29.10.2020 & Both The Parties Were Heard.

For Appellant: Sri B. Prabhakar, ARFor Respondent: Sri Sunil Kumar Pandey, DR

…whims and fancies of the Assessing Officer. It has to be rational, realistic and with due prudence which always differs from facts and circumstances of each of the case. This law of estimate is reiterated by the AP High Court in CIT Vs R. Narayana Rao (2011) 338 ITR 625 (AP) in a group of cases of Liquor Licenses. 6. The Appellant Assessee submits that in his own case for the Asst. Year: 2013-14 the CIT (A)-6, Hyderabad vide her Order 01.12.01.2017 in ITA No.0309/2015-16/CIT(A)6/16-17 directed to compute the Profit @3% vide Para 07.0 of her order which reads "it is seen that the Hon'ble ITAT, Hyderabad has held…

ITO 32(3)(5), MUMBAI vs. VASUNDHARA CHEMPLAST INDUSTRIES, MUMBAI

In the result, the appeal filed by the revenue is dismissed

ITA 401/MUM/2017[2011-12]Status: DisposedITAT Mumbai27 Jun 2018AY 2011-12

Bench: Shri Mahavir Singh() & Shri G Manjunatha ()

Section 133(6)Section 143(2)Section 143(3)Section 145(3)

…for defects in accounts, the estimate of income should be based upon some materials in support of same. Where there is none, such estimate cannot be upheld.xThe law as regards the manner of estimate was reiterated by the High Court in CIT versus R. Narayanrao 338 ITR 625(AP). In this case the Hon. court held that even where books cannot be accepted and estimate has necessarily to be frarete either under section 143(3) or 144, the best judgment has to be made in a reasonable manner and not according to the whims and fancies of the assessing officer.\It has to be based upon materials produced by the assessee and ga…

ATUL KANAYALAL BHUTTA,MUMBAI vs. ITO 32(1)(2), MUMBAI

In the result, appeal of the assessee is allowed and the appeal of the Revenue is dismissed

ITA 1474/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Apr 2018AY 2011-12

Bench: Shri Saktijit Dey & Shri Rajesh Kumarassessment Year: 2011-12

For Appellant: Shri V.C. Shah, A.RFor Respondent: Ms. Pooja Swaroop, D.R

Section 143(1)Section 143(2)Section 44A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “F”, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER Assessment Year: 2011-12 Mr. Atul Kanayalal Bhuta, ITO-32(1)(2), 201-H, Aradhana Pratyakshakar Bhavan, Building, BKC, Vs. Jaiwant Sawant Marg, Bandra (E), Dahisar West, Mumbai Mumbai – 400 068 PAN: AAHPB9927E (Appellant) (Respondent) Assessment Year: 2011-12 Office of the Income Tax Mr. Atul Kanayalal Officer-32(1)(2), Bhuta, Room No.-204, C-11, 201-H, Aradhana 2nd Floor, Vs. Building, Pratyakshakar Bhavan, Jaiwant Sawant Marg, Bandra-Kurla Complex, Dahisar West, Ba…

COMMISSIONER OF INCOME TAX DELHI-XI vs. INDIAN NATIONAL CONGRESS/ALL INDIA CONGRESS COMMITTEE

ITA/145/2001HC Delhi23 Mar 2016

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

Section 139Section 13A

…comply with the terms of notice under Section 142(1) of the Act, it was open to the AO to make a best ITA Nos. 145/2001 & 180/2001 Page 58 of 71 judgment assessment. Reliance was placed on the decision in CIT v R. Narayanrao (2011 338 ITR 625 (AP). 116. As has already been noted, the INC failed to comply with the requirements of the proviso to Section 13A of the Act and was therefore not eligible to claim exemption from payment of income tax. The INC failed to produce the authentic and audited consolidated accounts of its central office and state units which could be said to r…

INDIAN NATIONAL CONG. (I) AICC vs. C.I.T.- XI

ITA/180/2001HC Delhi23 Mar 2016

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

Section 139Section 13A

INDIAN NATIONAL CONG. (I) AICC vs. C.I.T.- XI

ITA - 180 / 2001HC Delhi23 Mar 2016

Section 139Section 13A

…terms of notice under Section 142(1) of the Act, it was open to the AO to make a best 2016:DHC:2463-DB ITA Nos. 145/2001 & 180/2001 Page 58 of 71 judgment assessment. Reliance was placed on the decision in CIT v R. Narayanrao (2011 338 ITR 625 (AP). 116. As has already been noted, the INC failed to comply with the requirements of the proviso to Section 13A of the Act and was therefore not eligible to claim exemption from payment of income tax. The INC failed to produce the authentic and audited consolidated accounts of its central office and state units which could be said to r…