CIT v. S.N.Builders & Developers

431 ITR 241High Court2021#7154 most cited

What is CIT v. S.N.Builders & Developers authority for?

For assessment years where Accounting Standard 7 was not applicable to real estate developers, the percentage completion method cannot be imposed, and the project completion method of accounting as per Accounting Standard 9 is permissible.

16

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2021 to 2025.

Also referred to as

CIT v. S.N.Builders & Developers · 431 ITR 241 · Karn HC · section 145(1) · section 145(2) · Accounting Standard 7 · Accounting Standard 9 · project completion method · percentage completion method · real estate developers · revenue recognition

Also reported as

127 Taxmann.com 232

Issues it is cited on

section 145(1)section 211section 2(7)section 132(2)section 23asection 132(1)(a)section 153(a)(1)retention moneyproject completion methodsection 250(1)section 45(2)section 145(2)

Judgments citing CIT v. S.N.Builders & Developers

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

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

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

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

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

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

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

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

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

…ITA No.713/Del/2024 & Others THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Sl.No. ITA No. AY Name of Name of Appellant Respondent 1. 713/Del/2024 2019-20 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 2. 714/Del/2024 2020-21 DCIT, DLF Limited [Revenue’s Circle-7(1) 9th Floor, DLF appeal] Delhi-110002 Centre, Sansad Marg H.O.Sansad Marg, New Delhi- 110001 PAN-AAACD3494N 3. 715/Del/2024 2021-22 DCIT, DLF Limite…

DCIT, New Delhi vs. M/S. Sahara India Power Corporation Ltd., Pune

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 5067/DEL/2013[2005-06]Status: PendingITAT Delhi28 Apr 2023AY 2005-06

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…hod tries to attain periodic recognition of income in order to reflect current performance. The amount of revenue recognized under this method is determined by reference to the stage of completion of the contract." 56. In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

Sahara India Power Corporation Ltd, Pune vs. DCIT, New Delhi

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 1155/DEL/2009[2004-05]Status: DisposedITAT Delhi28 Apr 2023AY 2004-05

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…hod tries to attain periodic recognition of income in order to reflect current performance. The amount of revenue recognized under this method is determined by reference to the stage of completion of the contract." 56. In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

Sahara India Power Corporation Ltd., Pune vs. Assistant Commissioner of Income-Tax

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 109/PUN/2007[2003-04]Status: DisposedITAT Delhi28 Apr 2023AY 2003-04

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…hod tries to attain periodic recognition of income in order to reflect current performance. The amount of revenue recognized under this method is determined by reference to the stage of completion of the contract." 56. In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

M/S. Corporate Leisure & Property Development Pvt. Ltd., Bengaluru vs. DCIT, Central Circle-2(1)(1), Bengaluru

In the result, the appeal fails and is hereby dismissed

ITA 1053/BANG/2022[2013-14]Status: DisposedITAT Bangalore27 Feb 2023AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Prashanth G.S., A.RFor Respondent: Shri Sankarganesh K., D.R

…r placed on the decisions of various courts in the following cases in support of the contention of the assessee: • CIT vs. Prestige Estate Projects Pvt Ltd, 440 ITR 343 (Kar) • CIT vs. Varun Developers, 440 ITR 354 (Kar) • CIT vs. S. N. Builders & Developers. 431 ITR 241 (Kar) • DCIT vs. Esteem Classic, ITA No.842 of 2018 dated 22.03.2021 (Kar) M/s. Corporate Leisure & Property Development Pvt. Ltd., Bangalore Page 8 of 32 5.9 The ld. A.R. submitted that the authorities below failed to appreciate that whether the income from sale of flats determined by following the 'project completion method" or 'percentage com…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 109/BANG/2022[2018-19]Status: DisposedITAT Bangalore14 Nov 2022AY 2018-19

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore Page 83 of 115 revenue recognized under this method is determined by reference to the stage of completion of the contract." 16.15 In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 108/BANG/2022[2017-18]Status: DisposedITAT Bangalore14 Nov 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore Page 83 of 115 revenue recognized under this method is determined by reference to the stage of completion of the contract." 16.15 In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 107/BANG/2022[2016-17]Status: DisposedITAT Bangalore14 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore Page 83 of 115 revenue recognized under this method is determined by reference to the stage of completion of the contract." 16.15 In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 544/BANG/2021[2016-17]Status: DisposedITAT Bangalore07 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…od tries to attain periodic recognition of income in order to reflect current performance. The amount of revenue recognized under this method is determined by reference to the stage of completion of the contract." 8.16 In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 543/BANG/2021[2015-16]Status: DisposedITAT Bangalore07 Nov 2022AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…od tries to attain periodic recognition of income in order to reflect current performance. The amount of revenue recognized under this method is determined by reference to the stage of completion of the contract." 8.16 In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 542/BANG/2021[2014-15]Status: DisposedITAT Bangalore07 Nov 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…od tries to attain periodic recognition of income in order to reflect current performance. The amount of revenue recognized under this method is determined by reference to the stage of completion of the contract." 8.16 In the case of SN Builders & Developers 431 ITR 241 (Karn) “7. Now we may deal with the second substantial question of law. The Tribunal relied upon the decision in the case of Prestige Estate Projects (P.) Ltd. (supra), rendered by it and held that for the Assessment Year 2005-06 the Accounting Standard 7 was not applicable to the real estate developers. Therefore, percentage completion method ca…

Jamuna Realty Pvt. Ltd., Cuttack vs. Principal Commissioner of Income Tax, Cuttack

In the result, appeal of the assessee is partly allowed with the direction to the AO herein given above

ITA 168/CTK/2020[2015-16]Status: DisposedITAT Cuttack22 Jul 2021AY 2015-16
For Appellant: Shri J.M.PatnaikFor Respondent: Shri S.M.Keshkamat amat, CIT DR
Section 143(3)Section 2Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE BEFORE S/SHRI P.M. JAGTAP, VICE PRESIDENT JAGTAP, VICE PRESIDENT AND ANDCHANDRA MOHAN GARG, JUDICIAL JUDICIAL MEMBER Assessment Year: 2015-16 Jamuna Realty Pvt Ltd., Aditya Jamuna Realty Pvt Ltd., Aditya Vs. Pr. CIT, Cuttack Pr. CIT, Cuttack Complex, Cha Complex, Chauliaganj, Cuttack PAN/GIR No. No.AAACE 4871 G (Appellant (Appellant) .. ( Respondent Respondent) Assessee by : Shri J.M.Patnaik Shri J.M.Patnaik, AR Revenue by : Shri S.M.Keshkamat amat, CIT DR Date of Hearing…

CIT v. S.N.Builders & Developers (431 ITR 241) — Cited in 16 Judgments | BharatTax