Fisheries Development Corpn. Ltd. v. CIT

111 ITR 923High Court1978#14690 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2011 to 2025.

Judgments citing Fisheries Development Corpn. Ltd. v. CIT

ACIT, Allahabad vs. Kesarwani Zarda Bhandar, Allahabad

In the result, the appeal of Revenue is dismissed and the appeal of the assessee is partly allowed

ITA 12/ALLD/2014[2010-11]Status: DisposedITAT Allahabad30 Jun 2025AY 2010-11

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 153A

…it is imperative that its relevant details could be ascertained at any stage. Where there is no record of details regarding wastage, shortage, shrinkage and like, the rejection of books has been upheld [Orissa Fisheries Development Corpn. Ltd. Vs. CIT (1978) 111 ITR 923 (Ori.)]. The valuation of work in progress at the end of the year is of great importance in certain cases. In the audit report, the assessee has not shown quantitative details of work in progress; the same was produced only during the assessment proceedings. The production account is a necessary account for manufacturing business, so much so that…

M/S Kesarwani Zarda Bhandar, Allahabad vs. Jt.CIT, Allahabad

In the result, the appeal of Revenue is dismissed and the appeal of the assessee is partly allowed

ITA 379/ALLD/2013[2010-11]Status: DisposedITAT Allahabad30 Jun 2025AY 2010-11

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 153A

…it is imperative that its relevant details could be ascertained at any stage. Where there is no record of details regarding wastage, shortage, shrinkage and like, the rejection of books has been upheld [Orissa Fisheries Development Corpn. Ltd. Vs. CIT (1978) 111 ITR 923 (Ori.)]. The valuation of work in progress at the end of the year is of great importance in certain cases. In the audit report, the assessee has not shown quantitative details of work in progress; the same was produced only during the assessment proceedings. The production account is a necessary account for manufacturing business, so much so that…

ACIT, Sangrur vs. M/S Aggarsain Fibres Ltd., Samana

In the result, appeal of the Department is allowed for statistical purposes

ITA 829/CHANDI/2016[2011-12]Status: DisposedITAT Chandigarh27 Feb 2020AY 2011-12
For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Shri Arvind Sudarshan, Sr. DR
Section 143(1)Section 145(3)

…ram Dalichand Vs. CIT(1971) 81 ITR 609 (Bom) • Bharat Milk Products Vs. CIT (1981) 128 ITR 682 (AD) • Punjab Trading Co. Ltd. Vs. CIT • Howrah Trading Co. (P) Ltd. Vs. CIT (1968) 67 ITR 582 (Cal.) • Orissa Fisheries Development Corporation Ltd. Vs. CIT (1978) 111 ITR 923 (Ori) • S.N. Namasivayam Chettiar Vs. CIT [1960] 38 ITR 579 (SC) • Bharat Mills Products Vs. CIT (1981) 128 ITR 682 (All) • CIT Vs. McMillan & Co. (1958) 33 ITR 182 (SC) • CIT Vs. K.Y. Pilliah and Sons [1967] 63 ITR 411 (SC) • Jhandu Mal Tara Chand Rice Mills Vs. CIT [1969] 73 ITR 192 (P&H) • R.B. Bansilal Abirchand Spinning and Weaving Mills Vs.…

ACIT Cen Cir 33, Mumbai vs. Eskay Knit (I) Ltd, Mumbai

In the result, the appeal filed by the assessee in ITA

ITA 7416/MUM/2011[2002-03]Status: DisposedITAT Mumbai28 Sept 2018AY 2002-03

Bench: Shri Saktijit Dey() & Shri G Manjunatha ()

…Officer to reject the books of account based on his findings of the material placed before him and to invoke the provisions of section 145(2) has been upheld. • Dhondiram Dalichand v. CIT (81 ITR 609)(Bom.) • Orissa Fisheries Development Corporation v. CIT (111 ITR 923) (Orissa) Narsinshingadas Ramakishan Pungaliya v.ACIT (272 ITR 467)(Raj) 6. As regards loss claimed on account of scrapping fixed assets 11 Eskay Knit (I) Ltd amounting to Rs.621.340 lakhs, the AO observed that since the assessee has agreed for the disallowance of the loss by filing a revised statement of computation, no further discussion is…

Eskay K'N'It (India) Ltd., Mumbai vs. A.C.I.T. Central Circle -33, Mumbai

In the result, the appeal filed by the assessee in ITA

ITA 6816/MUM/2011[2002-03]Status: DisposedITAT Mumbai28 Sept 2018AY 2002-03

Bench: Shri Saktijit Dey() & Shri G Manjunatha ()

…Officer to reject the books of account based on his findings of the material placed before him and to invoke the provisions of section 145(2) has been upheld. • Dhondiram Dalichand v. CIT (81 ITR 609)(Bom.) • Orissa Fisheries Development Corporation v. CIT (111 ITR 923) (Orissa) Narsinshingadas Ramakishan Pungaliya v.ACIT (272 ITR 467)(Raj) 6. As regards loss claimed on account of scrapping fixed assets 11 Eskay Knit (I) Ltd amounting to Rs.621.340 lakhs, the AO observed that since the assessee has agreed for the disallowance of the loss by filing a revised statement of computation, no further discussion is…

Commissioner of Income Tax vs. Bindals Appareals

ITA/599/2009HC Delhi18 Feb 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 133ASection 143(3)

…as discussed above. 3. In view of the aforesaid discrepancies, as per the AO, he rejected the books of accounts in view of the following decisions of the Supreme Court and the other High Courts: (i) Orissa Fishers Development Corpn. Ltd. Vs. CIT [111 ITR 923 (ORI)]; (ii) S.N. Namasivayam Chettiar Vs. CIT [38 ITR 579 (SC)]; (iii) Amiya Kumar Roi & Bros. Vs. CIT [2006 ITR 306 (Calcutta); and ITA No.599 of 2009 Page 8 of 11 (iv) Awadesh Pratap Singh Abdul Rehman & Bros. Vs. CIT [210 ITR 406 (Allahabad)]. 4. After rejecting the books of accounts, the AO opine…

Fisheries Development Corpn. Ltd. v. CIT (111 ITR 923) — Cited in 6 Judgments | BharatTax