CIT v. Realest Builders & Services Ltd. 216 CTR (SC) 345

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

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

…we uphold the order of the learned CIT(A) and dismiss the appeals of the Revenue. ITA No.713/Del/2024 & Others 9. In the result, all the three appeals filed by the Revenue stand dismissed” (emphasis supplied) 54. In the case of Paras Bulidtech India (P) Ltd. 382 ITR 630 (Delhi) (refer Page 502-508 of Paper Book Vol-2), the question arose during assessment proceedings whether POCM (as per AS-7) should be applied to the assessee’s case. It was submitted by the assessee that POCM was not applicable to it as it was a developer and not a contractor. The AO did not accept the assessee’s contention and, by applying POC…

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

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

…we uphold the order of the learned CIT(A) and dismiss the appeals of the Revenue. ITA No.713/Del/2024 & Others 9. In the result, all the three appeals filed by the Revenue stand dismissed” (emphasis supplied) 54. In the case of Paras Bulidtech India (P) Ltd. 382 ITR 630 (Delhi) (refer Page 502-508 of Paper Book Vol-2), the question arose during assessment proceedings whether POCM (as per AS-7) should be applied to the assessee’s case. It was submitted by the assessee that POCM was not applicable to it as it was a developer and not a contractor. The AO did not accept the assessee’s contention and, by applying POC…

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

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

…we uphold the order of the learned CIT(A) and dismiss the appeals of the Revenue. ITA No.713/Del/2024 & Others 9. In the result, all the three appeals filed by the Revenue stand dismissed” (emphasis supplied) 54. In the case of Paras Bulidtech India (P) Ltd. 382 ITR 630 (Delhi) (refer Page 502-508 of Paper Book Vol-2), the question arose during assessment proceedings whether POCM (as per AS-7) should be applied to the assessee’s case. It was submitted by the assessee that POCM was not applicable to it as it was a developer and not a contractor. The AO did not accept the assessee’s contention and, by applying POC…

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

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

…we uphold the order of the learned CIT(A) and dismiss the appeals of the Revenue. ITA No.713/Del/2024 & Others 9. In the result, all the three appeals filed by the Revenue stand dismissed” (emphasis supplied) 54. In the case of Paras Bulidtech India (P) Ltd. 382 ITR 630 (Delhi) (refer Page 502-508 of Paper Book Vol-2), the question arose during assessment proceedings whether POCM (as per AS-7) should be applied to the assessee’s case. It was submitted by the assessee that POCM was not applicable to it as it was a developer and not a contractor. The AO did not accept the assessee’s contention and, by applying POC…

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

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

…we uphold the order of the learned CIT(A) and dismiss the appeals of the Revenue. ITA No.713/Del/2024 & Others 9. In the result, all the three appeals filed by the Revenue stand dismissed” (emphasis supplied) 54. In the case of Paras Bulidtech India (P) Ltd. 382 ITR 630 (Delhi) (refer Page 502-508 of Paper Book Vol-2), the question arose during assessment proceedings whether POCM (as per AS-7) should be applied to the assessee’s case. It was submitted by the assessee that POCM was not applicable to it as it was a developer and not a contractor. The AO did not accept the assessee’s contention and, by applying POC…

Dlf Home Developers Limited, New Delhi vs. Principal Commissioner of Income Tax, Delhi-1, New Delhi

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singh & Shri Manish Agarwal[Assessment Year : 2019-20] Dlf Home Developers Limited, Vs Pr.Cit, 9Th Floor, Dlf Centre, Sansad Delhi-1, Marg, New Delhi-110001. New Delhi Pan-Aaccd0037H Appellant Respondent Appellant By Shri R.S.Singhvi, Ca & Shri Satyajeet Goel, Ca Respondent By Shri Surender Pal, Cit Dr Date Of Hearing 19.03.2025 Date Of Pronouncement 23.05.2025

…mann.com 27 (Del HC) ; decision of Hon‟ble Karnataka High Court in the case of CIT v. Prestige Estate Projects Pvt Ltd reported in 440 ITR 343 (Kar.) ; and decision of Hon‟ble Jurisdictional High Court in the case of Paras Buildtech India Pvt. Ltd reported in 382 ITR 630 (Del). The ld NFAC also gave a categorical finding of reversal of excess revenues, which was booked in earlier years of ₹609185.90 lakhs which was claimed as a one time claim of deduction during the year under consideration due to shift in method of accounting from POCM to CCM was worked out by the assessee on the basis of recognized principles,…

DCIT Central Circle, Karnal vs. Reliable Realtech Pvt Ltd, Bhiwani

In the result, appeal of the Revenue is dismissed

Bench: Shri M Balaganesh & Ms. Astha Chandraasstt. Year: 2014-15 Dcit, Central Circle, Vs. Reliable Realtech Pvt. Ltd. Ayakar Bhawan, C/O Nk Jain Adv. Sec-12, Karnal, Naya Bazar, Bhiwani Haryana Pin 132001 Haryana Pin 127021 Pan Aadcr4203L (Appellant) (Respondent)

…ouncements dwell upon the issue under consideration and are reproduced as under:- (i) The Hon'ble Delhi High Court had examined the applicability of the Completed Contract Method vis-à-vis POCM method in the case of Paras Buildtech India Pvt. Ltd. reported in 382 ITR 630 and held as under:- "4. The background to the filing of the present appeals is that the Appellant Assessee is engaged in the business of real estate as a developer. The Assessee either purchases land in its own name or gets the power of attorney from the land owner in case the property is owned by another party so as to carry out activities of de…

DCIT, Central Circle, Karnal vs. Dwarkadhis Buildwell Pvt. Ltd., Bhiwani

In the result, the appeal of the Revenue in ITA No

Bench: Shri N.K. Billaiya & Shri Yogesh Kumar U.S

…. Following the principles of res judicata as enunciated by the Hon'ble Supreme Court in the case of Excel Industries Ltd 358 ITR 295 and drawing support from the decision of the Hon'ble Jurisdictional High Court in the case of Paras Buildtech India (P) Ltd 382 ITR 630, the ld. CIT(A) deleted the addition. 9. Before us, the ld. DR strongly supported the findings of the Assessing Officer and read the relevant operative part. 10. Per contra, the ld. counsel for the assessee reiterated what has been stated before the ld. CIT(A). 11. We have carefully perused the orders of the authorities below. The method of a…

DCIT, Circle-16(2), New Delhi vs. Maxworth Infrasqwtructrure P.Ltd, New Delhi

In the result, the appeal of the revenue is dismissed

Bench: Shri Kul Bharat & Shri O.P. Kant[Through Video Conferencing] Assessment Year: 2012-13

…sessee has been consistently following the method of completed contract and which has been accepted by the Revenue. The assessee relied on the decision of the Hon’ble Delhi High Court in the case of Paras buildtech India private limited versus CIT reported in 382 ITR 630, DCIT Vs M/s Sabh infrastructure Ltd dated 07/01/2015 ( ITA No. 111/2014 and 113 /2014), CIT Vs Manish Buildwell private limited reported in 245 CTR 397 and other decisions. The assessee filed a chart of completed contract method followed consistently and recognised by the income tax department as under: A.Y. Comulative Sale(Rs.) Method of accou…

Commissioner of Income Tax Delhi IV vs. Dlf Universal Ltd

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…oned at pages 212 to 215 of the Paper Book.” 13. It is evident from the above discussion that the assessee followed the project completion method. This Court has in its decision in Paras Buildtech India P. Ltd. v. Commissioner of Income Tax, (2016) 382 ITR 630 (Delhi) held that the project completion method is a known and recognized mode of accounting. It is also held that this mode was approved as a proper method, which identified receipt of income or revenue only upon the completion of the contract. This Court relied upon the judgment of the Supreme Court in CIT v. Bilahari Investment P. Ltd.…