CIT v. Realest Builders & Services Ltd.

307 ITR 202Supreme Court of India2008#1760 most cited
64

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2010 to 2025.

Also referred to as

CIT v. Realest Builders & Services Ltd. · 307 ITR 202 SC · income accrual · Section 45(2) capital gains · Section 145(3) method of accounting · sale deed registration · tripartite agreement · transfer of rights · Section 2(47)(v) · project completion method · percentage completion method · retention money

Sections most often in play

Section 133(6)Section 143(3)Section 14ASection 36(1)(iii)Section 37Section 40A(2)(a)

Issues it is cited on

section 45(2)section 145(1)retention moneysection 23asection 145(2)project completion methodsection 211section 2(47)(v)section 115baapercentage completion methodsection 28(iv)section 53a

Judgments citing CIT v. Realest Builders & Services Ltd.

INCOME TAX OFFICER, WARD-3(4), GUWAHATI vs. M/S. S.R.K.M. STEELS (P) LTD, GUWAHATI

In the result, the appeal of the Revenue is dismissed

ITA 274/GTY/2018[2015-16]Status: DisposedITAT Guwahati18 Dec 2025AY 2015-16

Bench: Shri Rajesh Kumar, Am & Shri Manomohan Das, Jm Income Tax Officer, Ward 3(4) M/S S.R.K.M Steels (P) Ltd. Room No.707, 7Th Floor, Aayakar M/S Srkm Steels (P) Ltd. Lokhra Bhawan Poorva, G.S. Road, Road, P.O. Sawkuchi, Guwahati- Vs. Guwahati-781005, Assam 781034, Assam (Appellant) (Respondent) Pan No. Aalcs5046E Assessee By : Shri Somnath Ghosh, Ar Revenue By : Shri Santosh Kumar Karnani, Dr Date Of Hearing: 17.11.2025 Date Of Pronouncement: 18.12.2025

For Appellant: Shri Somnath Ghosh, ARFor Respondent: Shri Santosh Kumar karnani, DR
Section 133(6)

…n the case of CIT vs. Neo Ploy Pack (P) Ltd [(2000) 245 ITR 492] and the Hon'ble Bombay High Court in the case of CIT vs. Gopal Purohit [(2011) 336 ITR 287]. Further, theHon'ble Supreme Court in the case of CIT vs. Realest Builders and Services Limited((2008) 307 ITR 202] held, as follows: "In cases where the department wants to tax an assessee on the ground of the liability arising in a particular year, it should always ascertain the method of accounting followed by the assessee in the past and whetherchange in method of accounting was warranted on the ground that profit is being underestimated under the impugne…

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

…as quite clear that not only was it fruitless (on merits) but also that it may not have added anything much to the public coffers.” (emphasis supplied) b) In the decision rendered by the Supreme Court in the case of CIT vs. Realest Builders and Services Ltd.: 307 ITR 202 (SC) (refer Page 560- 562 of Paper Book Vol-2), the apex Court was concerned with the short issue as to whether income accrued to the assessee on the registration of the sale deed in favour in the third party (plot purchaser) or whether it accrued at the time of execution of the tripartite agreement? The plea of the Revenue was that income accru…

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

…as quite clear that not only was it fruitless (on merits) but also that it may not have added anything much to the public coffers.” (emphasis supplied) b) In the decision rendered by the Supreme Court in the case of CIT vs. Realest Builders and Services Ltd.: 307 ITR 202 (SC) (refer Page 560- 562 of Paper Book Vol-2), the apex Court was concerned with the short issue as to whether income accrued to the assessee on the registration of the sale deed in favour in the third party (plot purchaser) or whether it accrued at the time of execution of the tripartite agreement? The plea of the Revenue was that income accru…

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

…as quite clear that not only was it fruitless (on merits) but also that it may not have added anything much to the public coffers.” (emphasis supplied) b) In the decision rendered by the Supreme Court in the case of CIT vs. Realest Builders and Services Ltd.: 307 ITR 202 (SC) (refer Page 560- 562 of Paper Book Vol-2), the apex Court was concerned with the short issue as to whether income accrued to the assessee on the registration of the sale deed in favour in the third party (plot purchaser) or whether it accrued at the time of execution of the tripartite agreement? The plea of the Revenue was that income accru…

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

…as quite clear that not only was it fruitless (on merits) but also that it may not have added anything much to the public coffers.” (emphasis supplied) b) In the decision rendered by the Supreme Court in the case of CIT vs. Realest Builders and Services Ltd.: 307 ITR 202 (SC) (refer Page 560- 562 of Paper Book Vol-2), the apex Court was concerned with the short issue as to whether income accrued to the assessee on the registration of the sale deed in favour in the third party (plot purchaser) or whether it accrued at the time of execution of the tripartite agreement? The plea of the Revenue was that income accru…

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

…as quite clear that not only was it fruitless (on merits) but also that it may not have added anything much to the public coffers.” (emphasis supplied) b) In the decision rendered by the Supreme Court in the case of CIT vs. Realest Builders and Services Ltd.: 307 ITR 202 (SC) (refer Page 560- 562 of Paper Book Vol-2), the apex Court was concerned with the short issue as to whether income accrued to the assessee on the registration of the sale deed in favour in the third party (plot purchaser) or whether it accrued at the time of execution of the tripartite agreement? The plea of the Revenue was that income accru…

SPANDANA SPHOORTY FINANCIAL LIMITED,HYDERABAD vs. ACIT., CIRCLE 3(2), HYDERABAD

Accordingly, the addition of Rs.11,44,51,818/- (supra) made by the\nAO, which, thereafter, had been sustained by the CIT(A), is vacated.\nThe Grounds of appeal Nos.3.1 to 3.4 are allowed in terms o...

ITA 821/HYD/2025[2017-18]Status: DisposedITAT Hyderabad17 Oct 2025AY 2017-18
Section 143(3)Section 145Section 69A

…(2009) 180\nTaxman 514 (SC) has held that Change in accounting policy purely to gain tax\nbenefits can be disregarded. The revenue's contention is also fortified by the\ndecision of the apex court in the case of CIT v. Realest Builders & Services\nLtd. (2008) 307 ITR 202 (SC) wherein the Supreme Court held that accounting\nchanges that are not consistently followed cannot be accepted. It is therefore\nfallacious on the part of the appellant in so far as since the company switched to\ncash system of accounting only for loan processing income (while keeping other\nincomes on the accrual basis), it is an inconsisten…

NOBLE CONSTRUCTION COMPANY,PUNE vs. DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), PUNE, PUNE

In the result, the appeal of assessee is allowed for statistical purpose

ITA 481/PUN/2024[2013-14]Status: DisposedITAT Pune30 Jan 2025AY 2013-14
For Appellant: \nShri Pramod S. ShingteFor Respondent: \nShri Ramnath P. Murkunde
Section 143(2)Section 144Section 145ASection 44A

…wever, it\nfailed to do so.\nTherefore, the Ld. CIT(A) was completely justified in\nupholding the order of the Ld. AO. On merits, the Ld. DR submitted that\nthe decision of the Hon'ble Apex Court in the case of CIT Vs. Realest\nBuilders & Services Ltd. (2008) 307 ITR 202 (SC) relied by the Ld. AR is not\napplicable to the present case of the assessee as the facts are\ndistinguishable.\n8.\nWe have heard the Ld. Representatives of the parties and perused\nthe material on record. We find that the Ld. AO completed the assessment\nu/s 144 r.w.s.145(3) of the Act rejecting the books of account of the\nassessee and est…

DEVIDAYAL ALUMINIUM INDUSTRIES (P) LTD.,NEW DELHI vs. DCIT, GHAZIABAD

ITA 4610/DEL/2016[2008-09]Status: DisposedITAT Delhi08 Jan 2025AY 2008-09

Bench: Shri Satbeer Singh Godara & Shri M. Balaganesh

Section 143(3)Section 147Section 2(47)Section 221(1)

…s required to be taken into account in the year of sale for the purpose of computing capital gain u/s 45 (2) of the Act. In the circumstances it is submitted that the AO did not appreciate that the decision in the case of Realest Builder and Services Pvt Ltd (307 ITR 202) (SC) & CIT vs. Wood World Governor 312 ITR 254 (SC) fully applied.- PB No.2 - Page 126-129 The AO in adopting cash method of accounting in respect of a part of business of the appellant has not followed the mandate of law and has also not followed the mandate w/s 145 (3) of the Act. In support of the above contention reliance is placed on follow…

DEVIDAYAL ALUMINIUM INDUSTRIES (P) LTD.,NEW DELHI vs. DCIT, GHAZIABAD

ITA 4609/DEL/2016[2007-08]Status: DisposedITAT Delhi08 Jan 2025AY 2007-08

Bench: Shri Satbeer Singh Godara & Shri M. Balaganesh

Section 143(3)Section 147Section 2(47)Section 221(1)

…s required to be taken into account in the year of sale for the purpose of computing capital gain u/s 45 (2) of the Act. In the circumstances it is submitted that the AO did not appreciate that the decision in the case of Realest Builder and Services Pvt Ltd (307 ITR 202) (SC) & CIT vs. Wood World Governor 312 ITR 254 (SC) fully applied.- PB No.2 - Page 126-129 The AO in adopting cash method of accounting in respect of a part of business of the appellant has not followed the mandate of law and has also not followed the mandate w/s 145 (3) of the Act. In support of the above contention reliance is placed on follow…

PRAGATI POWER CORPORATION LTD,NEW DELHI vs. ACIT, CIRCLE 20(1), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed as indicated above

ITA 1617/DEL/2023[2018-19]Status: DisposedITAT Delhi14 Aug 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

Section 115JSection 145(2)Section 32Section 36Section 36(1)(iii)Section 37Section 43ASection 46ASection 80I

…orks Ltd. vs. ITO (1977) 106 ITR 01 (SC) Pr. CIT vs Quest Investment Advisors Ltd. (2018) 409 ITR 545 (Bom) Bharat Sanchar Nigam Ltd. vs UOI (2006) 282 ITR 273 (SC) CIT vs Excel Industries Ltd. (2013) 358 ITR 295 (SC) CIT vs Realest Builders & Services (2008) 307 ITR 202 (SC) DCIT Circle-33 vs India housing (2020) 113 Taxmann.com 535 (ITAT-Kolkata) Bodal Chemicals Ltd. vs Addl CIT (2019) 112 Taxmann.com 217 (ITAT-Ahmedabad) Travencore Textiles P. Ltd. vs ITO (ITA No.3193/Chny/2018) (ITAT-Chennai) AVTEC Limited vs DCIT (2015) 370 ITR 611 (Del) F) Even if the statutory auditors have made some observation in the acc…

ITO WARD 27(2), NEW DELHI vs. URBAN LAND MANAGEMENT PVT. LTD., NEW DELHI

The appeal of the Revenue is dismissed

ITA 5815/DEL/2019[2016-17]Status: DisposedITAT Delhi04 Jun 2024AY 2016-17

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2016-17 Income-Tax Officer, Vs M/S Urban Land Management Ward-27(2), New Delhi. Pvt. Ltd., 22, Dda Flats, Shivalik Road, Malviya Nagar, New Delhi-110017. Pan: Aabcu4986D (Appellant) (Respondent) Assessee By : Dr. Rakesh Gupta, Adv.; S/Shri Shrey Jain, Deepesh Garg & Somil Agarwal, Advocates Department By : Ms. Sapna Bhatia, Cit(Dr) & Shri Amit Katoch, Sr. Dr Date Of Hearing : 05.04.2024 Date Of Pronouncement : 04.06.2024 O R D E R Per Anubhav Sharma, Jm: The Revenue Has Come In Appeal Against The Order Dated 08.04.2019, For The Assessment Year 2016-17, Passed By The Commissioner Of Income Tax (Appeals)- 9, New Delhi (Hereinafter Referred As “Learned First Appellate Authority” Or In Short “Faa”), In Appeal No. 10326/18-19, Arising Out Of Assessment Order Dated

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Ms. Sapna Bhatia, CIT(DR) &
Section 143(1)Section 143(3)Section 14A

…es had disturbed the percentage of completion method of assessee. Otherwise, the issue being of revenue neutral is covered in favour of the assessee by the judgement of the Hon’ble Supreme Court in the case of CIT vs. Realest Builders and Services Ltd. (2008) 307 ITR 202 (SC). Thus, there is no reason to interfere in the findings of the ld.CIT(A). 5. Ground No.3; It comes up that the AO had made a disallowance on account of processing fee and bank charges paid to Bank of Baroda considering the same to be prior period expenses. The assessee had put up a case that these processing fee and bank charges are in rega…

M/S HIGH RANGE FOODS PRIVATE LTD,KOCHI vs. ITO CORPORATE WARD 1(3), KOCHI

In the result, the assessee’s appeal is partly allowed

ITA 22/COCH/2023[2015-16]Status: DisposedITAT Cochin11 Dec 2023AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Dashigh Range Foods Pvt. Ltd. The Income Tax Officer 28/3030, Cheruparambath Road Corporate Ward – 1(3) Vs. Kadavanthra, Kochi 682020 Kochi [Pan:Aaach6076L] (Appellant) (Respondent) Assessee By: Shri P.M. Veeramani, Ca Revenue By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 11.09.2023 Date Of Pronouncement: 11.12.2023 O R D E R Per Sanjay Arora, Am This Appeal By The Assessee Is Directed Against The Order Dated 28.06.2022 By The Commissioner Of Income Tax (Appeals), Nfac, Delhi [Cit(A)], Disallowing The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’) Dated 27.12.2017 For Assessment Year (Ay) 2015-16. 2. The Appeal, Filed On 09.01.2023, Is Delayed By 135 Days. The Condonation Petition Accompanying The Appeal, Which Is Supported By A Sworn Affidavit Dated 29.12.2022 By Shri Simon John, The Director & Principal Officer Of The Assessee- Company, Explains The Delay In Terms Of Non-Conveyance Of The Impugned Order Inasmuch As It’S Uploading On The Itba Was Not Accompanied By A Simultaneous Uploading On The Mobile Application As Well As A Real Time Alert Through Sms, As Required By Clause 11 Of The National Faceless Appeal Scheme (Nfas), So That The Order Cannot Be Regarded As Served On 28.6.2022, The Date Of The Impugned Order And

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 41(1)

…clearly distinguishable on facts. In that case, assessee itself admitted this as income as per the book entries. Hence, it is distinguishable. The decision relied by the ld. counsel for the assessee in the case of CIT vs. Realest Builders and Services Ltd. – 307 ITR 202 (SC) in addition to the following cases – (a) Siddheswar Sahakari Sakhar Karkhana Ltd. vs. CIT & Others – 270 ITR 1 (SC); (b) Bharat Petroleum Corporation Ltd. vs. CIT – 202 ITR 492 (Cal). (c) Sugauli Sugar Works (Impugned) Ltd. – 236 ITR 518 (SC); 5 I.T.A. Nos. 73- 79/Coch/2014 Page 7 ITANo. 22/Coch/ 2023 (AY 2015-16) High Range Foods Pvt. Ltd.…

DCIT CIRCLE- 21(1), NEW DELHI vs. RELIGARE HEALTH INSURANCE CO. LTD., NEW DELHI

In the result, all the appeals filed by the Revenue stand dismissed

ITA 5603/DEL/2019[2015-16]Status: DisposedITAT Delhi10 May 2023AY 2015-16
For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Ms. Princy Singla, Sr. DR
Section 37

…2019 8. Without prejudice to the above, the unutilised provision consisting of rejected claims for each relevant financial year have been reversed by the Respondent and offered to tax in the subsequent year. In CIT vs Realest Builders & Services Ltd., [2008] 307 ITR 202 (SC) [Para 7@Pg. 471 Compilation], it is held that where an assessee has been following consistent method of accounting, in absence of any proof of underestimation of profits, the presumption shall always be that the entire exercise is revenue neutral. Thus, if the Department's contentions are accepted, the same would amount to double disallowanc…

JCIT (OSD), CIRCLE- 21(1), NEW DELHI vs. RELIGARE HEALTH INSURANCE CO. LTD., NEW DELHI

In the result, all the appeals filed by the Revenue stand dismissed

ITA 3542/DEL/2018[2014-15]Status: DisposedITAT Delhi10 May 2023AY 2014-15
For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Ms. Princy Singla, Sr. DR
Section 37

…2019 8. Without prejudice to the above, the unutilised provision consisting of rejected claims for each relevant financial year have been reversed by the Respondent and offered to tax in the subsequent year. In CIT vs Realest Builders & Services Ltd., [2008] 307 ITR 202 (SC) [Para 7@Pg. 471 Compilation], it is held that where an assessee has been following consistent method of accounting, in absence of any proof of underestimation of profits, the presumption shall always be that the entire exercise is revenue neutral. Thus, if the Department's contentions are accepted, the same would amount to double disallowanc…

JCIT (OSD), CIRCLE- 21(1), NEW DELHI vs. RELIGARE HEALTH INSURANCE CO. LTD., NEW DELHI

In the result, all the appeals filed by the Revenue stand dismissed

ITA 3541/DEL/2018[2013-14]Status: DisposedITAT Delhi10 May 2023AY 2013-14
For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Ms. Princy Singla, Sr. DR
Section 37

…2019 8. Without prejudice to the above, the unutilised provision consisting of rejected claims for each relevant financial year have been reversed by the Respondent and offered to tax in the subsequent year. In CIT vs Realest Builders & Services Ltd., [2008] 307 ITR 202 (SC) [Para 7@Pg. 471 Compilation], it is held that where an assessee has been following consistent method of accounting, in absence of any proof of underestimation of profits, the presumption shall always be that the entire exercise is revenue neutral. Thus, if the Department's contentions are accepted, the same would amount to double disallowanc…

THE ITO, WARD-1, PALAKKAD, PALAKKAD vs. M/S. SNOFIELD FOODS PRIVATE LIMITED, PALAKKAD

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

ITA 837/COCH/2022[2006-2007]Status: DisposedITAT Cochin03 Mar 2023AY 2006-2007

Bench: Shri George George K. & Ms. Padmavathy S.The Income Tax Officer -1 Vs M/S. Snofield Foods Pvt. Ltd. Aayakar Bhavan Door No. V/623B, Marutharode English Church Road Village, Kuppayode Road Palakkad 678014 Marutharode, Palakkad 678007 Pan – Aafcs3164B (Appellant) (Respondent) Assessee By: Shri P.M. Veermani, Ca Revenue By: Smt. J.M. Jamuna Devi, Sr. Dr Date Of Hearing: 28.02.2023 Date Of Pronouncement: 03.03.2023 O R D E R Per: George George K., J.M. This Appeal At The Instance Of The Revenue Is Directed Against The Order Of The Cit(A)/Nfac, Delhi Dated 02.06.2022. The Relevant Assessment Year Is 2006-07. 2. Revenue Has Raised The Following Grounds Of Appeal: - “1) The Learned Commissioner Of Income Tax(Appeals) Erred In Deleting The Addition Made By Assessing Officer U/S 41(1), Has Not Gone Into The Merits Of The Issue Simply Relying On The Fact That The Similar Issue Is Already Decided In Favour Of The Assessee In The Case Of Sister Concerns. 2) The Learned Commissioner Of Income Tax (Appeals) Has Not Taken Into Consideration That The Assessee Should Have Credited Percentage Of Deduction Of The Freezer Deposit Every

For Appellant: Shri P.M. Veermani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 143(3)Section 41(1)

…early distinguishable on facts. In that case, assessee itself admitted this as income as per the book entries. Hence, it is distinguishable. 11. The decision relied by the Id. Counsel for the assessee in the case of CIT vs. Realest Builders and Services Ltd.- 307 ITR 202 (SC) in addition to the following case are also supports the plea of the assessee. The accrual has been dealt with in the relied judgments. Hence, under the given set of facts and circumstances, we by relying the above decisions set aside the orders of the authorities and allow this ground of the assessee as it cannot be treated as income for the…

M/S. NORTH EASTERN ELECTRIC POWER CORPORATION LTD.,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - SHILLONG, SHILLONG

In the result, the appeal of the assessee in ITA

ITA 45/GTY/2019[2014-15]Status: DisposedITAT Guwahati12 Dec 2022AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

Section 143(3)Section 263

…s applicable to the assessee. Reliance placed on plethora of judgment including that of Hon’ble Supreme Court in the case of Radhasoami Satsang –vs.- CIT 193 ITR 321; CIT –vs.- Rajasthan Beweries; SLP (C) 1379/2014(SC); CIT –vs.- Realest Builders and Services 307 ITR 202 (SC). Further it was submitted that the books of account are audited by three auditors including the Controller of Auditor General (CAG) and all auditors have accepted the treatment of the surcharge/interest on outstanding payments. Similar accounting treatment is also consistently followed by various other Power Sector Companies, copy of which i…

M/S. NORTH EASTERN ELECTRIC POWER CORPORATION LTD.,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - SHILLONG, SHILLONG

In the result, the appeal of the assessee in ITA

ITA 418/GTY/2019[2014-15]Status: DisposedITAT Guwahati12 Dec 2022AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

Section 143(3)Section 263

…s applicable to the assessee. Reliance placed on plethora of judgment including that of Hon’ble Supreme Court in the case of Radhasoami Satsang –vs.- CIT 193 ITR 321; CIT –vs.- Rajasthan Beweries; SLP (C) 1379/2014(SC); CIT –vs.- Realest Builders and Services 307 ITR 202 (SC). Further it was submitted that the books of account are audited by three auditors including the Controller of Auditor General (CAG) and all auditors have accepted the treatment of the surcharge/interest on outstanding payments. Similar accounting treatment is also consistently followed by various other Power Sector Companies, copy of which i…

ACIT 28(2), MUMBAI vs. M/S. NEEL SIDDHI DEVELOPERS, MUMBAI

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

ITA 1693/MUM/2020[2012-13]Status: DisposedITAT Mumbai22 Nov 2022AY 2012-13

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadaleacit 28(2) Vs. M/S Neel Siddhi Room No. 307, 3Rd Floor Developers, Tower No. 6, Vashi Rly 2Nd Floor, Emerald, Stn Complex, Vashi Plot No. 195/B, Navi Mumbai – 400703 Sec-12, Vashi, Navi Mumbai – 400 703. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagfn2744N Appellant .. Respondent Appellant By : Shri Chetan M. Kacha.Dr Respondent By : Shri Subodh Ratnaparkhi.Ar Date Of Hearing 14.11.2022 Date Of Pronouncement 24.11.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Passed By The Commissioner Of Income Tax (Appeals)- 26, Mumbai Passed U/S 143(3) & 250 Of The Act. The Revenue Has Raised The Following Grounds Of Appeal:

For Appellant: Shri Chetan M. Kacha.DRFor Respondent: Shri Subodh Ratnaparkhi.AR
Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ACIT 28(2) Vs. M/s Neel Siddhi Room No. 307, 3rd Floor Developers, Tower No. 6, Vashi Rly 2nd Floor, Emerald, Stn Complex, Vashi Plot No. 195/B, Navi Mumbai – 400703 Sec-12, Vashi, Navi Mumbai – 400 703. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAGFN2744N Appellant .. Respondent Appellant by : Shri Chetan M. Kacha.DR Respondent by : Shri Subodh Ratnaparkhi.AR Date of Hearing 14.11.2022 Date of Pronouncement 24.11.2022 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The…

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CIT v. Realest Builders & Services Ltd. (307 ITR 202) — Cited in 64 Judgments | BharatTax