CIT v. Thiagaraja Chetty & Co.

24 ITR 525Supreme Court of India1953#12506 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2022.

Judgments citing CIT v. Thiagaraja Chetty & Co.

ACIT, CIRCLE- 10(2), NEW DELHI vs. GREEN DELHI BQS LIMITED, NEW DELHI

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

ITA 3068/DEL/2018[2011-12]Status: DisposedITAT Delhi03 Aug 2022AY 2011-12

Bench: Shri N.K. Billaiya & Shri N.K. Choudhry

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Aashna Paul, CIT- DR
Section 143(3)Section 36

…he course of the judgments by learned Judges both in the High Courts as well as the Supreme Court. (Vide Commissioner of Income-tax, Bombay v. Ahmedbhai Umarbhai & Co., Bombay(6), and Commissioner of Income-tax, Madras v. K. R. M. T. T. Thiagaraja Chetty & Co 24 ITR 525. It has also been used by the Judicial Committee of the Privy Council in Commissioners of Taxation v. Kirk(1). The concept however cannot be divorced from that of income accruing to the assessee. If income has accrured to the assessee it is certainly earned by him in the sense that he has contributed to its production or the parenthood of the inco…

HAVELLS INDIA LTD.,DELHI vs. ACIT (LTU), CIRCLE-1, NEW DELHI

In the result, the appeal of the assessee is allowed

ITA 6509/DEL/2018[2014-15]Status: DisposedITAT Delhi09 May 2022AY 2014-15

Bench: Sh. A. D. Jaindr. B. R. R. Kumar

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Manvendra Goyal, CIT DR
Section 115JSection 80ISection 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHIBENCH ‘C’, NEW DELHI Before Sh. A. D. Jain, Vice President Dr. B. R. R. Kumar, Accountant Member ITA No. 6509/Del/2018 : Asstt. Year : 2014-15 M/s Havells India Ltd., Vs ACIT(LTU), 904, 9th Floor, Surya Kiran Circle-1, Building, K.G. Marg, Connaught New Delhi Place, New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AAACH0351E Assessee by: Sh. Akshat Jain, CA & Sh. Rajat Jain, CA Revenue by: Sh. Manvendra Goyal, CIT DR Date of Hearing: 12.04.2022 Date of Pronouncement: 09.05.2022 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeal has been filed by the…

M/S. STEEL AUTHORITY OF INDIA LTD. (UNIT BHILAI STEEL PLANT) ISPAT BHAWAN . THROUGH ITS SR. MANAGER (F AND A) vs. COMMISSIONER OF CENTRAL EXCISE RAIPUR

C.A. No.-002150-002150 - 2012Supreme Court08 May 2019

Bench: Us. 2. Very Briefly Put, The Question Which We Are Called Upon To Consider & Resolve Is As To Whether Interest Is Payable On The Differential Excise Duty With Retrospective Effect That Become Payable On The Basis Of Escalation Clause Under Section 11Ab Of The Central Excise Act, 1944 (Hereinafter Referred To As “The Act”). 3. In This Batch Of Appeals, We Will Treat C.A. No.2150/2012 As The Leading Case. We Will Refer To The Said Case As The Sail Case. In The Said Case Originally, The Appellant Company Which Is Manufacturer Of Various Products Including Rail

Section 11Section 11A

…f the profits whenever it may take place cannot possibly be allowed to suspend their accrual …”. “The quantification of the commission is not a condition precedent to its accrual”. (Per Ghulam Hassan, J. in CIT v. K.R.M.T.T. Thiagaraja Chetty and Co. [24 ITR 525 at p. 534] See also Isaac Holden and Sons, Ltd. v. Commissioners of Inland Revenue[12 TC 768], and Commissioners of Inland Revenue v. Newcastle Breweries Ltd.[12 TC 927] What has however got to be determined is whether the income, profits or gains accrued to the assessee and in order that the same may accrue to him it is necessary th…

DY. C.I.T.2(1), RAIPUR (CG) vs. SHRI TARAL MODI, RAIPUR (CG)

In the result, appeal filed by the revenue is dismissed

ITA 314/BIL/2014[2006-07]Status: DisposedITAT Raipur12 Oct 2018AY 2006-07

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2006-07 Dcit- 2(1), Abhishek Atlani, Raipur (Cg). Atlani Bunglow, Khamardih Road, Vs. Shankar Nagar, Raipur (Cg).

For Appellant: Shri R. B. Doshi, CAFor Respondent: Shri R. K. Singh, CIT-DR
Section 132Section 142(1)Section 153C

…the account books, it may well be a hypothetical income. 1f it is not real income, the mere entry would not create liability. A liability to tax can arise only when, there is a legal right to receive as was pointed out in CIT v. Thiagaraja Chetty & Co. (1953) 24 ITR 525 (SC) and Morvi Industries Ltd. v. CIT (1971) 82ITR 835 (SC). 10. In the case of CIT vs. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC) : TC39R. 737, Hidayatullah, J. (as he then was), speaking for the Court, observed "Income-tax is a levy on income. No doubt, the IT Act takes into account two points of time at which the liability to tax is attrac…

DY. C.I.T.2(1), RAIPUR (CG) vs. SHRI SURESH ATLANI, RAIPUR (CG)

In the result, appeal filed by the revenue is dismissed

ITA 186/BIL/2014[2006-07]Status: DisposedITAT Raipur12 Oct 2018AY 2006-07

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2006-07 Dcit- 2(1), Abhishek Atlani, Raipur (Cg). Atlani Bunglow, Khamardih Road, Vs. Shankar Nagar, Raipur (Cg).

For Appellant: Shri R. B. Doshi, CAFor Respondent: Shri R. K. Singh, CIT-DR
Section 132Section 142(1)Section 153C

…the account books, it may well be a hypothetical income. 1f it is not real income, the mere entry would not create liability. A liability to tax can arise only when, there is a legal right to receive as was pointed out in CIT v. Thiagaraja Chetty & Co. (1953) 24 ITR 525 (SC) and Morvi Industries Ltd. v. CIT (1971) 82ITR 835 (SC). 10. In the case of CIT vs. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC) : TC39R. 737, Hidayatullah, J. (as he then was), speaking for the Court, observed "Income-tax is a levy on income. No doubt, the IT Act takes into account two points of time at which the liability to tax is attrac…

DY. C.I.T.2(1), RAIPUR (CG) vs. ABHISHEK ATLANI, RAIPUR (CG)

In the result, appeal filed by the revenue is dismissed

ITA 185/BIL/2014[2006-07]Status: DisposedITAT Raipur12 Oct 2018AY 2006-07

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2006-07 Dcit- 2(1), Abhishek Atlani, Raipur (Cg). Atlani Bunglow, Khamardih Road, Vs. Shankar Nagar, Raipur (Cg).

For Appellant: Shri R. B. Doshi, CAFor Respondent: Shri R. K. Singh, CIT-DR
Section 132Section 142(1)Section 153C

…the account books, it may well be a hypothetical income. 1f it is not real income, the mere entry would not create liability. A liability to tax can arise only when, there is a legal right to receive as was pointed out in CIT v. Thiagaraja Chetty & Co. (1953) 24 ITR 525 (SC) and Morvi Industries Ltd. v. CIT (1971) 82ITR 835 (SC). 10. In the case of CIT vs. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC) : TC39R. 737, Hidayatullah, J. (as he then was), speaking for the Court, observed "Income-tax is a levy on income. No doubt, the IT Act takes into account two points of time at which the liability to tax is attrac…

Commissioner of Income Tax vs. M/s.Sasi Educational Institutes

Appeal is dismissed as above

ITTA/125/2010HC Telangana14 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

For Appellant: - The Commissioner Of Income Tax And AnotherFor Respondent: - M/S Eldeco Construction Pvt. Ltd
Section 260ASection 80Section 80I

…l aspect that the assessee as well as its sister concerns are maintaining the account on mercantile basis and also considering the ratio of decisions Laxmipat Singhania Vs. CIT (1969) 72 ITR 291 (SC), CIT Vs. K.R.M.T. Thiangaraia Chetty & Co. (1953) 24 ITR 525 (SC), Morvl Industries Ltd. Vs. CIT (1971) 82 ITR 833 (SC), CIT Vs. Ashok Bhai Chiman Bhai (1965) 56 ITR 42 (SC) this income should have been assessed on accrual basis ?" Insofar as the question no.1 is concerned, it has been answered in favour of the assessee and against the department in Income Tax Appeal No.99 of 2010 in the matter of sister co…

M/S NEW MANGALORE PORT TRUST,MANGALORE vs. ACIT, MANGALORE

In the result, the appeal of the assessee is partly allowed

ITA 1299/BANG/2013[2009-10]Status: DisposedITAT Bangalore06 Nov 2015AY 2009-10

Bench: Shri Vijay Pal Rao & Shri Jason P Boazm/S.New Mangalore Port Trust, Panambur, Mangalore. … Appellant Pan:Aaaln0057A Vs. Asst. Commissioner Of Income-Tax, Circle 1(1), Mangalore. … Respondent

For Appellant: Shri V.Srinivasan, CAFor Respondent: Smt.Chandana Ramachandran, CIT(DR)
Section 14A

…s. 4 of the Act has been very often used in the course of the judgments by learned Judges both in the High Courts as well as the Supreme Court [vide CIT vs. Ahmedbhai Umarbhai & Co. (1950) 18 ITR 472 (SC) and CIT vs. K.R.M.T.T. Thiagaraja Chetty & Co. (1953) 24 ITR 525 (SC) at 533]. It has also been used by the Judicial Committee of the Privy Council in Commrs. of Taxation vs. Kirk (1900) A.C. 588 at 592. The concept however cannot be divorced from that of income accruing to the assessee. If income has accrued to the assessee it is certainly earned by him in the sense that he has contributed to its production or…

CIT v. Thiagaraja Chetty & Co. (24 ITR 525) — Cited in 8 Judgments | BharatTax