CIT v. T V Sundaram

224 ITR 344Reported decision#9544 most cited

What is CIT v. T V Sundaram authority for?

An assessee crediting the difference between the face value of deposits and the settlement amount to the Profit & Loss account indicates an intention to treat this difference as part of its income.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2019 to 2019.

Also referred to as

CIT v T V Sundaram · 224 ITR 344 · difference between face value and settlement amount · P&L account credit · real income position · genuine mistakes

Judgments citing CIT v. T V Sundaram

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 255/BANG/2018[2012-13]Status: DisposedITAT Bangalore20 Sept 2019AY 2012-13

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 254/BANG/2018[2011-12]Status: DisposedITAT Bangalore20 Sept 2019AY 2011-12

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 253/BANG/2018[2008-09]Status: DisposedITAT Bangalore20 Sept 2019AY 2008-09

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 252/BANG/2018[2007-08]Status: DisposedITAT Bangalore20 Sept 2019AY 2007-08

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 251/BANG/2018[2006-07]Status: DisposedITAT Bangalore20 Sept 2019AY 2006-07

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 250/BANG/2018[2005-06]Status: DisposedITAT Bangalore20 Sept 2019AY 2005-06

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 249/BANG/2018[2004-05]Status: DisposedITAT Bangalore20 Sept 2019AY 2004-05

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 248/BANG/2018[2003-04]Status: DisposedITAT Bangalore20 Sept 2019AY 2003-04

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 247/BANG/2018[2001-02]Status: DisposedITAT Bangalore20 Sept 2019AY 2001-02

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 245/BANG/2018[2000-01]Status: DisposedITAT Bangalore20 Sept 2019AY 2000-01

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

M/S Maharashtra Apex Corporation Limited, Manipal vs. Deputy Commissioner of Income Tax Circle-1, Udupi

240 & 241/Bang/2018

ITA 243/BANG/2018[1999-00]Status: DisposedITAT Bangalore20 Sept 2019AY 1999-00

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…with the books of accounts. The reliance on CBDT circular at this juncture is only abuse of CBDT circular which was meant to help the genuine mistakes in claims. 5.4.12 The Hon'ble Supreme Court decision in the case of CIT v T V Sundaram lyengar & Sons Ltd. (224 ITR 344) is clearly applicable to the facts of the assessee's case as the appellant itself credited difference between the face value of the deposits and the amount paid in final settlement to the P&L a/c. 5.4.13 The reasons given by the AO for the addition were considered by me and I agree with them. The AO passed a speaking order dealing with all the i…

CIT v. T V Sundaram (224 ITR 344) — Cited in 11 Judgments | BharatTax