What is CIT v. Vijay M. Mistry Construction Ltd. authority for?

In cases of alleged bogus or hawala purchases where the existence of transactions is not entirely denied, only the profit element embedded in such purchases, and not the entire purchase price, can be added to the assessee's income. The focus is on determining a reasonable profit percentage for such additions.

How many judgments cite CIT v. Vijay M. Mistry Construction Ltd.?

252 judgments on BharatTax cite CIT v. Vijay M. Mistry Construction Ltd. (355 ITR 498), spanning 2017 to 2026.

Which sections of the Income Tax Act does CIT v. Vijay M. Mistry Construction Ltd. come up under?

It is most often cited in judgments turning on Section 37(1), Section 131, Section 69B, Section 1961, Section 115BBE, Section 153C.

CIT v. Vijay M. Mistry Construction Ltd. (355 ITR 498)

Nihaar Equipment P.Ltd, Mumbai vs. DCIT RG 13(1)(1)

In the result, appeals filed by the assessee are partly allowed and that of the revenue are dismissed

ITA 3020/MUM/2015[2007-08]Status: DisposedITAT Mumbai29 Mar 2017AY 2007-08

Bench: Shri D.T. Garasia () & Shri Ashwani Taneja ( Account Member)

Section 133ASection 143(1)Section 147Section 234B

…nly the profit element embedded in such purchases can be added to the income of the assessee. So much is clear by the decision of this court. In particular, the court has also taken a similar view in the case of CIT v. Vijay M. Mistry Construction Ltd. (2013) 355 ITR 498 (Guj) and in the case of CIT v. Bholanath Poly Feb (P.) Ltd. [2013] 355 1TR 290 (Guj). The view taken by the Tribunal in the case of Vijay Proteins Ltd. v. Asstt. CIT 11996] 58 lTD 428 (Ahd.) came to be approved. If the entire purchases were wholly bogus and there was a finding of fact on record that no purchases were made at all, counsel for the…

Metropolitan Eximchem Ltd., Mumbai vs. Asst. CIT - 6(3), Mumbai

In the result, ground No 3 in assessee’s appeal is allowed

ITA 2935/MUM/2015[2011-12]Status: DisposedITAT Mumbai29 Mar 2017AY 2011-12

Bench: Shri D.T. Garasia, Jm & Shri Rajesh Kumar, Am

For Appellant: Shri Satish MoryFor Respondent: Shri Purushottam Kumar (Sr.A.R.)

Section 143(3)

…nly the profit element embedded in such purchases can be added to the income of the assessee. So much is clear by the decision of this court. In particular, the court has also taken a similar view in the case of CIT v. Vijay M. Mistry Construction Ltd. [2013] 355 ITR 498 (Guj) and in the case of CIT v. Bholanath Poly Fab (P.) Ltd. [2013] 355 ITR 290 (Guj). The view taken by the Tribunal in the case of Vijay Proteins Ltd. v. Asstt. CIT [1996] 58 ITD 428 (Ahd.) came to be approved. If the entire purchases were wholly bogus and there was a finding of fact on record that no purchases were made at all, counsel for the…

Remi Process Plant and Machinery Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

In the result, the appeal filed by the assessee is partly allowed

ITA 1817/MUM/2015[2011-12]Status: DisposedITAT Mumbai21 Mar 2017AY 2011-12

Bench: Shri D.T. Garasia & Shri Rajesh Kumar: (A.Y : 2011-12) Dcit, Circle – 3(3)(1) Vs. M/S. Remi Process Plant & Mumbai (Appellant) Machinery Ltd. 11 Cama Industrial Estate Walbhat Road, Goregaon (E) Mumbai 400 009 Pan : Aaacr0409H (Respondent) : M/S. Remi Process Plant & Vs. Dcit, Circle – 3(3)(1) Machinery Ltd. Mumbai 11 Cama Industrial Estate Walbhat Road, Goregaon (E) Mumbai 400 009 Pan : Aaacr0409H (Respondent) Appellant By : Shri Purushottam Kumar Respondent By : Shri Bhagirath Singh Date Of Hearing : 28/02/2017 Date Of Pronouncement : 21/03/2017

For Appellant: Shri Purushottam KumarFor Respondent: Shri Bhagirath Singh

Section 12ASection 143(3)

…embedded in such purchases could be added to the assessee’s income and as such the question of law arose in such estimation. While arriving at the above conclusion, the Hon’ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. In the case of Vijay Proteins (supra), the Hon’ble ITAT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even though payments were made to the said parties by cros…

DCIT Cir 3(3)(1), Mumbai vs. Remi Process Plant & Machinery Ltd, Mumbai

In the result, the appeal filed by the assessee is partly allowed

ITA 1723/MUM/2015[2011-12]Status: DisposedITAT Mumbai21 Mar 2017AY 2011-12

Bench: Shri D.T. Garasia & Shri Rajesh Kumar: (A.Y : 2011-12) Dcit, Circle – 3(3)(1) Vs. M/S. Remi Process Plant & Mumbai (Appellant) Machinery Ltd. 11 Cama Industrial Estate Walbhat Road, Goregaon (E) Mumbai 400 009 Pan : Aaacr0409H (Respondent) : M/S. Remi Process Plant & Vs. Dcit, Circle – 3(3)(1) Machinery Ltd. Mumbai 11 Cama Industrial Estate Walbhat Road, Goregaon (E) Mumbai 400 009 Pan : Aaacr0409H (Respondent) Appellant By : Shri Purushottam Kumar Respondent By : Shri Bhagirath Singh Date Of Hearing : 28/02/2017 Date Of Pronouncement : 21/03/2017

For Appellant: Shri Purushottam KumarFor Respondent: Shri Bhagirath Singh

Section 12ASection 143(3)

…embedded in such purchases could be added to the assessee’s income and as such the question of law arose in such estimation. While arriving at the above conclusion, the Hon’ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. In the case of Vijay Proteins (supra), the Hon’ble ITAT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even though payments were made to the said parties by cros…

ITO 16(3)(1), Mumbai vs. Shailesh L. Chheda, Mumbai

The appeal of the Revenue is partly allowed

ITA 4566/MUM/2014[2010-11]Status: DisposedITAT Mumbai20 Feb 2017AY 2010-11

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 Income Tax Officer-16(3)(1), Shri Shailesh Lakhamshi Room No.219, Chheda, बनाम/ Matru Mandir, Shop No.04, Narayan Vs. Mumbai-400007 Buildg. S.V. Road, Opp. Central Bank, Mumbai-400004 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aacpc0733G Shri B.S. Bist-Dr राज"व क" ओर से / Revenue By "नधा"रती क" ओर से / Assessee By None

Section 143(2)Section 143(3)Section 69Section 69C

…f kept in juxtaposition and analyzed, we find that while coming to a particular conclusion, the Ld. Commissioner of Income Tax (Appeal) placed reliance upon various judicial pronouncements like the decision of the Tribunal in Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj.), Vijay Proteins 58 ITD 428 (Ahd.), Jitendra T. Adnani, order of the First Appellate Authority dated 26/03/2012, Hon'ble Gujarat High Court in CIT vs Simit Sheth (2013) 38 taxman.com 385 (Guj.), State Bank of India vs S.K. Sharma AIR 1996 SC 364 (SC), G.T.C. Industries Ltd. vs ACIT (65 ITD 380)(Bom.), ACIT vs Tribhovandas Bhimji Jhaveri (20…

Kiran Navin Doshi, Mumbai vs. ITO -23(2)(4), Mumbai

In the result, the assessee’s appeal for A

ITA 2601/MUM/2016[2009-10]Status: DisposedITAT Mumbai18 Jan 2017AY 2009-10

Bench: Shri Jason P. Boaz & Shri Saktijit Deysmt. Kiran Navin Doshi Income Tax Officer-23(2)(4) D-705, Kalp Nagri C-10, Pratyksha Kar Bhavan Vs. B.R. Road, Mulund (W) Bkc, Bandra East Mumbai 400080 Mumbai Pan – Abwpd5848A Appellant Respondent

For Appellant: NoneFor Respondent: Shri Milind Rajguru

Section 143Section 143(1)Section 143(3)Section 147Section 148Section 69C

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon'ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. 7.29. In the case of Vijay Proteins (supra), the Hon'ble ITAT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even though payments were made to the said parties b…

Refrigerated Deistributors P.Ltd, Mumbai vs. DCIT 2(3)(1), Mumbai

In the result, all the five appeals of assessee are partly allowed and appeal of Revenue is dismissed

ITA 2988/MUM/2016[2012-13]Status: DisposedITAT Mumbai13 Jan 2017AY 2012-13