Devi Prasad Vishwanath Prasad v. CIT

50 ITR 641High Court1963#18012 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2018 to 2023.

Issues it is cited on

section 264asection 264block of assetssection 10aasection 10arejection of books of accountsection 145(3)addition u/s 68section 40(a)(ia)section 145unexplained expenditurereason to believe

Judgments citing Devi Prasad Vishwanath Prasad v. CIT

M/S.Vibgyor Texotech Private Limited, Mumbai vs. ACIT-8(3)(2), Mumbai

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

ITA 489/MUM/2019[2011-12]Status: DisposedITAT Mumbai27 Sept 2023AY 2011-12

Bench: Shri S. Rifaur Rahman, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: NoneFor Respondent: Shri Vranda U. Matkari
Section 10ASection 143(3)Section 144Section 147Section 148Section 250Section 264ASection 40

…essed profits which are already included in the income estimated from business on rejection of the books, it is for him to prove that it is so [CIT vs. Devi Prasad Vishwanath Prasad (1969) 72 ITR 194 (SC) reversing Devi Prasad Vishwanath Prasad vs. CIT (1963) 50 ITR 641 (All) and impliedly approving on this point Maddi Sudarsanam Oil Mills Co. vs. CIT (1959) 37 ITR 369 (AP) and CIT vs. Krishna Mining Co. (1972) 83 ITR 860 (AP). The Supreme Court in this case of CIT vs. Devi Prasad Vishwanath Prasad observed thus : "There is nothing in law which prevents the ITO in an appropriate case in taxing both the cash credi…

M/S.Vibgyor Texotech Private Limited, Mumbai vs. ACIT-8(3)(2), Mumbai

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

ITA 1514/MUM/2018[2008-09]Status: DisposedITAT Mumbai27 Sept 2023AY 2008-09

Bench: Shri S. Rifaur Rahman, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: NoneFor Respondent: Shri Vranda U. Matkari
Section 10ASection 143(3)Section 144Section 147Section 148Section 250Section 264ASection 40

…essed profits which are already included in the income estimated from business on rejection of the books, it is for him to prove that it is so [CIT vs. Devi Prasad Vishwanath Prasad (1969) 72 ITR 194 (SC) reversing Devi Prasad Vishwanath Prasad vs. CIT (1963) 50 ITR 641 (All) and impliedly approving on this point Maddi Sudarsanam Oil Mills Co. vs. CIT (1959) 37 ITR 369 (AP) and CIT vs. Krishna Mining Co. (1972) 83 ITR 860 (AP). The Supreme Court in this case of CIT vs. Devi Prasad Vishwanath Prasad observed thus : "There is nothing in law which prevents the ITO in an appropriate case in taxing both the cash credi…

Income Tax Officer 8(3)(3), Mumbai vs. M/S.Vibgyor Texotech Private Limited, Mumbai

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

ITA 1484/MUM/2018[2009-10]Status: DisposedITAT Mumbai29 Apr 2022AY 2009-10

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

For Appellant: Mr. Pavan Ved, ARFor Respondent: Mr. Achal Sharma, CIT-DR/
Section 10ASection 143(2)Section 143(3)Section 144Section 148Section 264ASection 40

…essed profits which are already included in the income estimated from business on rejection of the books, it is for him to prove that it is so [CIT vs. Devi Prasad Vishwanath Prasad (1969) 72 ITR 194 (SC) reversing Devi Prasad Vishwanath Prasad vs. CIT (1963) 50 ITR 641 (All) and impliedly approving on this point Maddi Sudarsanam Oil Mills Co. vs. CIT (1959) 37 ITR 369 (AP) and CIT vs. Krishna Mining Co. (1972) 83 ITR 860 (AP). The Supreme Court in this case of CIT vs. Devi Prasad Vishwanath Prasad observed thus : "There is nothing in law which prevents the ITO in an appropriate case in taxing both the cash cred…

M/S.Vibgyor Texotech Private Limited, Mumbai vs. ACIT-8(3)(2), Mumbai

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

ITA 487/MUM/2019[2009-10]Status: DisposedITAT Mumbai28 Apr 2022AY 2009-10

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

For Appellant: Mr. Pavan Ved, ARFor Respondent: Mr. Achal Sharma, CIT-DR/
Section 10ASection 143(2)Section 143(3)Section 144Section 148Section 264ASection 40

…essed profits which are already included in the income estimated from business on rejection of the books, it is for him to prove that it is so [CIT vs. Devi Prasad Vishwanath Prasad (1969) 72 ITR 194 (SC) reversing Devi Prasad Vishwanath Prasad vs. CIT (1963) 50 ITR 641 (All) and impliedly approving on this point Maddi Sudarsanam Oil Mills Co. vs. CIT (1959) 37 ITR 369 (AP) and CIT vs. Krishna Mining Co. (1972) 83 ITR 860 (AP). The Supreme Court in this case of CIT vs. Devi Prasad Vishwanath Prasad observed thus : "There is nothing in law which prevents the ITO in an appropriate case in taxing both the cash cred…

Rajendra Kumar Saha, Baripada vs. Principal CIT, Cuttack

In the result, appeal of the assessee is allowed

ITA 154/CTK/2018[2013-14]Status: DisposedITAT Cuttack26 Sept 2018AY 2013-14

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2013-2014

For Appellant: None (written submission)For Respondent: Shri Piyus Kolhe, CIT DR
Section 133(6)Section 41(1)Section 68

…for which he relied on the decision of Hon’ble Rajasthan high Court in the case of CIT vs. J.K.Contractor, 19 DTR 305 (Raj) as well as the decision of Hon’ble Allahabad High Court in the case of Devi Prasad Vishwanath Prasad vs Commissioner Of Income- Tax, 50 ITR 641 (All) and Hon’ble A.P. High Court in the case of Indwell Constructions vs Commissioner Of Income-Tax, 232 ITR 776 (AP). 12. We find that Hon’ble Rajasthan High Court in the case of . J.K.Contractor(supra) has held as under: “The Assessing Officer having estimated the profit by applying a higher profit rate on total contract receipts after reje…

Devi Prasad Vishwanath Prasad v. CIT (50 ITR 641) — Cited in 5 Judgments | BharatTax