CIT v. Vijay Constructions

213 CTR 105Reported decision#23752 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2022.

Judgments citing CIT v. Vijay Constructions

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(1), RAIPUR vs. M/S SANJAY AGRAWAL, RAIPUR

ITA 82/RPR/2018[2013-14]Status: DisposedITAT Raipur09 Jun 2022AY 2013-14

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 82/Rpr/2018 Co No.05/Rpr/2018 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Sanjay Agrawal 35-36, Millenium Plaza, G. E. Road, Raipur (C.G.) Pan : Aapfs0532E ……""यथ" / Respondent Assessee By : Shri Veekaas S. Sharma, Ar Revenue By : Shri G.N Singh, Dr सुनवाई क" तार"ख / Date Of Hearing : 24.05.2022 घोषणा क" तार"ख / Date Of Pronouncement : 09.06.2022

For Appellant: Shri Veekaas S. Sharma, ARFor Respondent: Shri G.N Singh, DR

Section 143(2)Section 143(3)Section 145

…nd fair and should have a like nexus with available material (Brij Bhaushan Lal Padkumar Vs CIT 197 CTR 134 SC). The rate of profit cannot be estimated merely on assumptions and there has to be some relevance to the facts on records (CIT Vs Vijay Construction 213 CTR 105 All). In case of the assessee in the AY 2011-12 assessee has shown turnover of 90.79 crores and NP of Rs. 6.7 crores. This NP was obtained after deducting finance cost of Rs. 76,95,747/-, Dep. 90,64,457/- and partners interest and remuneration Rs. 1,41,60,702/-. In the next AY 14-15 on the assessee's turnover of Rs. 67,09,09,545/- a NP of 3.75 pe…

ASST. COMMISSIONER OF INCOME TAXL, CIRCLE-1, KURNOOL vs. SRI SUBRAHMANESWARA TRANSPORT CONTRACTORS, KURNOOL

ITA 1962/HYD/2018[2010-11]Status: DisposedITAT Hyderabad17 Aug 2021AY 2010-11

Bench: Shri S.S. Godara & Shri L.P. Sahu

For Appellant: Shri S. Rama Rao, AdvFor Respondent: Shri Rohit Muzumdar, D.R

Section 143Section 40

…hon’ble jurisdictional high court’s decision (supra). The same is also found carrying no substance as their lordships have never dealt with an instance of a statutory deduction u/s 40(b) of the Act. We rather find that the case law CIT vs. Vijay Constructions 213 CTR 105 (Alla) holds that a statutory deduction not to be disallowed merely because the assessee’s books ITA No. 1962/Hyd/2018 AY 2010-11 M/s Sri Subramaeswara Transport Contractors have been rejected. We thus reflect Revenue’s instant latter substantive ground as well. 5. No other argument has been raised before us. This Revenue’s appeal is according…

MAYA SHEEL CONSTRUCTION,NEW DELHI vs. DCIT, GHAZIABAD

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

ITA 3695/DEL/2016[2012-13]Status: DisposedITAT Delhi23 Dec 2019AY 2012-13

Bench: Ms. Sushma Chowlashri N.K. Billaiya[A.Y 2012-13]

For Appellant: Shri Kapil Goel, AdvFor Respondent: Shri S.N. Meena, Sr. DR

Section 133ASection 139(1)Section 143(3)Section 144Section 40B

…rs 2009-10 to 2011-12, the assessee has been claiming interest on capital and remuneration to partners, which are verifiable from the computation of income placed in the paper book. 13. The Hon'ble High Court of Allahabad in the case of Vijay Constructions 213 CTR 105 had the occasion to consider an appeal where the books of account were rejected and best judgment assessment was made. The relevant findings of the Hon'ble High Court read as under: “The procedure for making assessment in a matter where voluntary return submitted by the assessee under Section 139(1) is not accepted by the assessing officer ha…