E.D. Sassoon & Co. Ltd. v. CIT

26 ITR 27Supreme Court of India1954#325 most cited

What is E.D. Sassoon & Co. Ltd. v. CIT authority for?

Income is taxable only when it represents real income, not notional income. It accrues only when there is a vested right to receive it, typically upon the occurrence of a transfer or event, rather than merely on a time basis.

256

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 1992 to 2026.

Also referred to as

E.D. Sassoon & Co. Ltd. v. CIT · 26 ITR 27 · Supreme Court · real income principle · notional income · income accrual · right to receive income · section 48 · capital gains computation · timing of tax liability · mercantile system · section 145

Also reported as

1 SCR 313

Sections most often in play

Section 143(3)Section 250Section 143(2)Section 36(1)(va)Section 48Section 115JBSection 142(1)Section 143(1)

Issues it is cited on

right to receivesection 145(2)mercantile system of accountingsection 48section 45section 34liable to taxbook profitsprofits and gains of business or professionsection 145section 115jrevenue expenditure

Judgments citing E.D. Sassoon & Co. Ltd. v. CIT

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1,, BARODA

In the result, appeal filed by the assessee is allowed

ITA 903/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad18 Feb 2026AY 2011-12

Bench: The Itat. Considering The Same, The Order Passed By Itat Was Recalled & The Appeal Of The Assessee Fixed For Adjudication Afresh On Merits, Vide Order In Ma No.94/Ahd/2025, Dated 18.12.2025. The Present Appeal, Accordingly, Has Come Up For Hearing Before Us.

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Shri Alpesh Parmar, CIT.DR
Section 115JSection 143(3)Section 263

…purpose of computation of book profit u/s 115J. Following decisions are also relied upon: CIT Vs. Bharat Carbon & Ribbon Mfg. Co.(P) Ltd. (1999) 105 Taxman 737 Kedarnath Jute Mfg. Co.Ltd. Vs. CIT, (1971), 82 ITR 363 (SC) ED Sassoon & Co. Ltd. Vs. CIT, (1954) 26 ITR 27 (SC) Calcutta Co. Ltd. Vs. CIT (1959) 37 ITR 1 (SC) Eastern Power Distribution Co. of AP Ltd. Vs. ACIT (2011) 139 TTJ 94 (Visakha) CIT VS ILPEA Paramount P. Ltd. (2011), 336 ITR 54 (Delhi) Dresser Valve India (P) Ltd. Vs. ACIT, (2009) 30 SOT 495 (Mum)  No petition is filed by the Company in this regard, neither any such petition is pending before…

M/S JINDAL EQUIPMENT LEASING CONSULTANCY SERVICES LTD. vs. COMMISSIONER OF INCOME TAX

Appeals stand disposed of in the aforesaid terms

C.A. No.-000152-000152 - 2026Supreme Court09 Jan 2026

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

Section 143(3)Section 28Section 47

…stitute taxable income, as held in Commissioner of Income Tax, Bombay City I v. Shoorji Vallabhdas & Co.13, State Bank of Travancore v. Commissioner of Income-Tax, Kerala14, Godhra Electricity Co. Ltd v. 10 14 Tax Cases 22 11 (2004) 9 SCC 438 12 (1954) 26 ITR 27 (SC) 13 (1962) 46 ITR 144 (SC) 14 (1986) 158 ITR 102 (SC) 10 Commissioner of Income-Tax15 and Commissioner of Income-Tax v. Excel Industries Ltd. and another16. Even if the fair market value of the shares allotted in the amalgamated company on the date of allotment exceeds the book value of the shares in the amalgamating company, such a…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BENGALURU vs. HIREHAL JAIRAJ BALRAM, BENGALURU

ITA 1961/BANG/2025[2020-21]Status: FixedITAT Bangalore18 Dec 2025AY 2020-21

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. T. Srinivasa, CAFor Respondent: Shri. Balusamy N, JCIT(DR)(ITAT), Bangalore
Section 139(5)Section 143(1)Section 144Section 147Section 148Section 2(47)Section 250Section 50C

…IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. KESHAV DUBEY, JUDICIAL MEMBER ITA No.1961/Bang/2024 Assessment Year : 2016-17 Shri. Kovvur Chandrashekhar, Near Industrial Estate, DAM Road, Kallahalli, Ananthashayanagudi, B. O. Bellary - 583 201. PAN: AFAPC 4016 M APPELLANT Vs. DCIT, Central Circle – 1(1), Bangalore. RESPONDENT Assessee by : Shri. T. Srinivasa, CA Revenue by : Shri. Balusamy N, JCIT(DR)(ITAT), Bangalore. Date of hearing : 19.11.2025 Date of Pronouncement: 18.12.2025 ORDER Per Laxmi Prasad Sahu, Accountant Member : This is an a…

BYSANI SRINATH MAMATHA,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE-1(3), BENGALURU

In the result, the appeals of the assessee for

ITA 410/BANG/2025[2018-19]Status: DisposedITAT Bangalore09 Oct 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Bharadwaj Sheshadri, CA &For Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 131Section 132Section 132(4)Section 153A

…f corroborative evidence on record. 12.4 Further, the addition of interest income on a notional basis is contrary to the settled principle that income must accrue or arise with reasonable certainty. The Hon'ble Supreme Court in E.D. Sassoon & Co. Ltd. v. CIT (26 ITR 27) has held that income accrues only when the assessee acquires a right to receive it. The relevant observation of Hon'ble supreme court is extracted as under: Income may accrue to an assessee without the actual receipt of the same. If the assessee acquires a right to receive the income, the income can be said to have accrued to him though it may be…

BYSANI SRINATH MAMATHA,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX (OSD) CENTRAL CIRCLE-1(3), BENGALURU

In the result, the appeals of the assessee for Assessment Years

ITA 407/BANG/2025[2015-16]Status: DisposedITAT Bangalore09 Oct 2025AY 2015-16

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Bharadwaj Sheshadri, CA &For Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 131Section 132Section 132(4)Section 153A

…f corroborative evidence on record. 12.4 Further, the addition of interest income on a notional basis is contrary to the settled principle that income must accrue or arise with reasonable certainty. The Hon’ble Supreme Court in E.D. Sassoon & Co. Ltd. v. CIT (26 ITR 27) has held that income accrues only when the . ITA No.399-410/Bang/2025 Page 30 of 33 assessee acquires a right to receive it. The relevant observation of Hon’ble supreme court is extracted as under: Income may accrue to an assessee without the actual receipt of the same. If the assessee acquires a right to receive the income, the income can be s…

BYSANI ADINARAYAGUPTHA SRINATH,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE-1(3), BENGALURU

In the result, the appeals of the assessee for Assessment Years

ITA 402/BANG/2025[2016-17]Status: DisposedITAT Bangalore09 Oct 2025AY 2016-17

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Bharadwaj Sheshadri, CA &For Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 131Section 132Section 132(4)Section 153A

…f corroborative evidence on record. 12.4 Further, the addition of interest income on a notional basis is contrary to the settled principle that income must accrue or arise with reasonable certainty. The Hon’ble Supreme Court in E.D. Sassoon & Co. Ltd. v. CIT (26 ITR 27) has held that income accrues only when the . ITA No.399-410/Bang/2025 Page 30 of 33 assessee acquires a right to receive it. The relevant observation of Hon’ble supreme court is extracted as under: Income may accrue to an assessee without the actual receipt of the same. If the assessee acquires a right to receive the income, the income can be s…

JCIT(OSD) CENTRAL CIRCLE 1, JHANDEWALAN vs. SAHARA INDIA REAL ESTATE CORPORATION LTD., LUCKNOW

ITA 1085/DEL/2024[2017-18]Status: DisposedITAT Delhi07 Oct 2025AY 2017-18

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

For Appellant: Sh. Ajay Vohra, Sr. Adv. &For Respondent: Sh. Mahesh Kumar, CIT-DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Satbeer Singh Godara, Judicial Member & Sh. S. Rifaur Rahman, Accountant Member ITA No. 1085 & CO No. 36/Del/2024 : Asstt. Year: 2017-18 JCIT(OSD), Vs Sahara India Real Estate Central Circle-1, Corporation Ltd., 1, Sahara India New Delhi-110055 Bhawan, Kapoorthala, Complex Aliganj, Lucknow-226024 (APPELLANT) (RESPONDENT) PAN No. AAJCS7265F Assessee by : Sh. Ajay Vohra, Sr. Adv. & Sh. Aditya Vohra, Adv. Revenue by : Sh. Mahesh Kumar, CIT-DR Date of Hearing: 10.07.2025 Date of Pronouncement: 07.10.2025 ORDER Per Satbeer Singh Godara, Judici…

DY.COMMISSIONER OF INCOME TAX,CC-2,, KANPUR vs. SHRI.MOHAMMAD ASFAND AKHTAR, KANPUR

In the result, the appeal of Revenue in ITA

ITA 144/LKW/2022[2018-19]Status: DisposedITAT Lucknow26 Sept 2025AY 2018-19

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

For Appellant: Shri Ashish Jaiswal, AdvocateFor Respondent: Shri R. K. Agarwal, CIT(DR)
Section 143(3)Section 36(1)(va)Section 37Section 41Section 41(1)Section 68Section 69C

…s the accrual of the liability. The argument of the learned counsel for the assessee in the present case has the familiar ring of the argument which was advanced before their Lordships of the Supreme Court in the case of F. D. Sassoon & Co. Ltd. v, CIT [1954] 26 ITR 27. There too it was urged that the managing agency commission was relatable to the services rendered as managing agent and, therefore, for the period during which the transferor-managing agent rendered services as managing agent to the managed company, it became entitled to the managing agency commission for the aforementioned period and for the rema…

MOHD. ASFAND AKHTAR,KANPUR vs. DEPUTI COMMISSIONER OF INCOME TAX CC-2, KANPUR

In the result, the appeal of Revenue in ITA

ITA 139/LKW/2022[2018-19]Status: DisposedITAT Lucknow26 Sept 2025AY 2018-19

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

For Appellant: Shri Ashish Jaiswal, AdvocateFor Respondent: Shri R. K. Agarwal, CIT(DR)
Section 143(3)Section 36(1)(va)Section 37Section 41Section 41(1)Section 68Section 69C

…s the accrual of the liability. The argument of the learned counsel for the assessee in the present case has the familiar ring of the argument which was advanced before their Lordships of the Supreme Court in the case of F. D. Sassoon & Co. Ltd. v, CIT [1954] 26 ITR 27. There too it was urged that the managing agency commission was relatable to the services rendered as managing agent and, therefore, for the period during which the transferor-managing agent rendered services as managing agent to the managed company, it became entitled to the managing agency commission for the aforementioned period and for the rema…

DCIT CENTRAL CIRCLE 05 , DELHI vs. DEEPAK KOTHARI , KANPUR

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

ITA 1834/DEL/2021[20017-18]Status: DisposedITAT Delhi06 Aug 2025

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

For Appellant: Dr. Rakesh Gupta, AdvocateFor Respondent: Shri Dayainder Singh Sidhu, CIT DR
Section 143(3)Section 49(4)Section 56(2)(vii)

…onsideration received in respect of the transfer." 4.1.16 It is held that Income Tax Act permits the taxation of Real Income and not the notional Income as held in the following judgments: a) Hon'ble Supreme Court in the case of E.D. Sassoon & Co. Ltd.'s case 26 ITR 27 (SC) b) Hon'ble Supreme Court in the case of CIT v. Shoorji Vallabhdas & Co. 46 ITR 144 (SC) c) Hon'ble Supreme Court in the case of Excel Industries (SC) 358 ITR 0295 4.1.17 In view of above discussion, it is held that-the appellant has rightly computed long term capital gain as per mode of computation prescribed in section 48 of Income Tax Act an…

DEEPAK KATHARI,KANPUR vs. ACIT, CC-5, NEW DELHI

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

ITA 1205/DEL/2021[2017-18]Status: DisposedITAT Delhi06 Aug 2025AY 2017-18

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

For Appellant: Dr. Rakesh Gupta, AdvocateFor Respondent: Shri Dayainder Singh Sidhu, CIT DR
Section 143(3)Section 49(4)Section 56(2)(vii)

…onsideration received in respect of the transfer." 4.1.16 It is held that Income Tax Act permits the taxation of Real Income and not the notional Income as held in the following judgments: a) Hon'ble Supreme Court in the case of E.D. Sassoon & Co. Ltd.'s case 26 ITR 27 (SC) b) Hon'ble Supreme Court in the case of CIT v. Shoorji Vallabhdas & Co. 46 ITR 144 (SC) c) Hon'ble Supreme Court in the case of Excel Industries (SC) 358 ITR 0295 4.1.17 In view of above discussion, it is held that-the appellant has rightly computed long term capital gain as per mode of computation prescribed in section 48 of Income Tax Act an…

ACIT, CIRCLE-46(1), NEW DELHI vs. DABUR INVEST CORP., DELHI

In the result, appeals of the Revenue are dismissed and appeal

ITA 2454/DEL/2022[2018-19]Status: DisposedITAT Delhi04 Jun 2025AY 2018-19

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraिनधा"रणवष"/Assessment Year: 2017-18 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2017-18 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent

…tion by AT & T Global. As per the assessee, the income had not accrued in-as-much as the option had not been exercised, i.e., accrued and shall only be so on the (sale) transfer of shares. Reliance stands placed by it on E. D. Sassoon & Co. Ltd. v. CIT [1954] 26 ITR 27 (SC) and CIT v. Canara Bank [1992] 195 ITR 66/61 Taxman 79 (Kar.). In view of the Revenue, the income being defined to arise on the basis of time, i.e., as a linear function of and by elapse of time, accrues to the assessee on time basis and, accordingly, working out that accrued for the current year, reflected by an increase in the option price du…

DABUR INVEST CORP,NEW DELHI vs. JCIT, RANGE-46, NEW DELHI

In the result, appeals of the Revenue are dismissed and appeal

ITA 2447/DEL/2022[2017-18]Status: DisposedITAT Delhi04 Jun 2025AY 2017-18

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraिनधा"रणवष"/Assessment Year: 2017-18 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2017-18 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent

…tion by AT & T Global. As per the assessee, the income had not accrued in-as-much as the option had not been exercised, i.e., accrued and shall only be so on the (sale) transfer of shares. Reliance stands placed by it on E. D. Sassoon & Co. Ltd. v. CIT [1954] 26 ITR 27 (SC) and CIT v. Canara Bank [1992] 195 ITR 66/61 Taxman 79 (Kar.). In view of the Revenue, the income being defined to arise on the basis of time, i.e., as a linear function of and by elapse of time, accrues to the assessee on time basis and, accordingly, working out that accrued for the current year, reflected by an increase in the option price du…

GILBARCO VEEDER ROOT INDIA PVT. LTD.,COIMBATORE vs. ACIT, CORPORATE CIRCLE-1, COIMBATORE

In the result, both the appeals filed by the assessee for the A

ITA 286/CHNY/2025[2019-20]Status: DisposedITAT Chennai26 May 2025AY 2019-20

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./Ita Nos.283, 284, 285 & 286/Chny/2025 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15, 2018-19 & 2019-20)

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 32

…is chargeable to tax for the impugned assessment year. Therefore, we are of the considered view that on this issue it cannot be said that there is an error in the order of the Assessing Officer.” "E.D. Sassoon & Co. Ltd. v. Commissioner of Income Tax [1954] 26 ITR 27 (SC)" - Wherein the Hon’ble Supreme court had held that: "It is not the work done or the services rendered by the person, but the income received or the income which has accrued to the person within the chargeable accounting period that is the subject-matter of taxation. That is the proper method of approach while considering the taxability or othe…

GILBARCO VEEDER ROOT INDIA PVT. LTD.,COIMBATORE vs. ACIT, CORPORATE CIRCLE-1, COIMBATORE

In the result, both the appeals filed by the assessee for the A

ITA 285/CHNY/2025[2018-19]Status: DisposedITAT Chennai26 May 2025AY 2018-19

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./Ita Nos.283, 284, 285 & 286/Chny/2025 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15, 2018-19 & 2019-20)

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 32

…is chargeable to tax for the impugned assessment year. Therefore, we are of the considered view that on this issue it cannot be said that there is an error in the order of the Assessing Officer.” "E.D. Sassoon & Co. Ltd. v. Commissioner of Income Tax [1954] 26 ITR 27 (SC)" - Wherein the Hon’ble Supreme court had held that: "It is not the work done or the services rendered by the person, but the income received or the income which has accrued to the person within the chargeable accounting period that is the subject-matter of taxation. That is the proper method of approach while considering the taxability or othe…

GILBARCO VEEDER ROOT INDIA PVT. LTD.,COIMBATORE vs. ACIT, CORPORATE CIRCLE-1,, COIMBATORE

In the result, both the appeals filed by the assessee for the A

ITA 284/CHNY/2025[2014-15]Status: DisposedITAT Chennai26 May 2025AY 2014-15

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./Ita Nos.283, 284, 285 & 286/Chny/2025 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15, 2018-19 & 2019-20)

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 32

…is chargeable to tax for the impugned assessment year. Therefore, we are of the considered view that on this issue it cannot be said that there is an error in the order of the Assessing Officer.” "E.D. Sassoon & Co. Ltd. v. Commissioner of Income Tax [1954] 26 ITR 27 (SC)" - Wherein the Hon’ble Supreme court had held that: "It is not the work done or the services rendered by the person, but the income received or the income which has accrued to the person within the chargeable accounting period that is the subject-matter of taxation. That is the proper method of approach while considering the taxability or othe…

GILBARCO VEEDER ROOT INDIA PVT. LTD.,COIMBATORE vs. ACIT, CORPORATE CIRCLE-1,, COIMBATORE

In the result, both the appeals filed by the assessee for the A

ITA 283/CHNY/2025[2013-14]Status: DisposedITAT Chennai26 May 2025AY 2013-14

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपीलसं./Ita Nos.283, 284, 285 & 286/Chny/2025 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15, 2018-19 & 2019-20)

For Appellant: Shri S.P. Chidambaram, AdvocateFor Respondent: Ms. Anitha, Addl. CIT
Section 32

…is chargeable to tax for the impugned assessment year. Therefore, we are of the considered view that on this issue it cannot be said that there is an error in the order of the Assessing Officer.” "E.D. Sassoon & Co. Ltd. v. Commissioner of Income Tax [1954] 26 ITR 27 (SC)" - Wherein the Hon’ble Supreme court had held that: "It is not the work done or the services rendered by the person, but the income received or the income which has accrued to the person within the chargeable accounting period that is the subject-matter of taxation. That is the proper method of approach while considering the taxability or othe…

PERCIVAL JOSEPH PEREIRA ,MUMBAI vs. INCOME TAX OFFICER (IT) -3(3)(1), MUMBAI

In the result, both the appeals by the assessee are allowed

ITA 4662/MUM/2024[2016-17]Status: DisposedITAT Mumbai19 May 2025AY 2016-17

Bench: Amit Shukla & Shri Girish Agrawal

Section 143(3)Section 271(1)(c)Section 45(5)(b)Section 56Section 56(2)(viii)

…t, the time of accrual for taxing income gets postponed till the dispute is adjudicated by the Civil Court. 10.1. While making these observations, Hon'ble Court referred to the decision of Hon'ble Supreme Court in the case of E.D. Sassoon and Co. Ltd. [1954] 26 ITR 27 (SC), whereby it observed that there was no absolute right to receive the amount at the time of withdrawing the sum because if the appeal of the State Government was allowed in its entirety, the right to payment of the enhanced compensation would fall altogether. Further, Hon'ble Supreme Court referred to the observation of the Hon'ble Andhra Prade…

PERCIVAL JOSEPH PEREIRA ,MUMBAI vs. INCOME TAX OFFICER (IT)-3(3)(1), MUMBAI

In the result, both the appeals by the assessee are allowed

ITA 4661/MUM/2024[2016-17]Status: DisposedITAT Mumbai19 May 2025AY 2016-17

Bench: Amit Shukla & Shri Girish Agrawal

Section 143(3)Section 271(1)(c)Section 45(5)(b)Section 56Section 56(2)(viii)

…t, the time of accrual for taxing income gets postponed till the dispute is adjudicated by the Civil Court. 10.1. While making these observations, Hon'ble Court referred to the decision of Hon'ble Supreme Court in the case of E.D. Sassoon and Co. Ltd. [1954] 26 ITR 27 (SC), whereby it observed that there was no absolute right to receive the amount at the time of withdrawing the sum because if the appeal of the State Government was allowed in its entirety, the right to payment of the enhanced compensation would fall altogether. Further, Hon'ble Supreme Court referred to the observation of the Hon'ble Andhra Prade…

RAJASTHAN STATE GANGANAGAR SUGAR MILLS LIMITED,JAIPUR vs. ACIT, JAIPUR

In the result the appeal of the assessee is partly allowed

ITA 279/JPR/2024[2017-18]Status: DisposedITAT Jaipur08 May 2025AY 2017-18

Bench: Him The Assessment Order Passed By Acit, Circle-6, Jaipur [ For Short Ao ] U/S 143

For Appellant: Sh. Saurav Harsh, AdvFor Respondent: Mrs. Anita Rinesh, JCIT-DR
Section 143Section 145ASection 36(1)(va)

…4.4 The basic principle is that the assessee must have acquired a right to receive the income. There must be a debt owed to him by somebody. There must be as is otherwise expressed debitum in praesentisovendum in futuro. (ED. Sassoon & Co. Ltd. v. CIT(1954) 26 ITR 27, 51 LalManniLal v CIT, (1967) 69 ITR 581 (All) Te legal position is that a frabaty depending upon a contingency is not a debt in praesenti or in future till the contingency happens and therefore, export pass fee which is contingent in nature is not to be taxed. 4.5 Such contingent Income cannot be taxed unless and until it is admitted by the suppli…

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