H.H. Lakshmi Bhai v. CWT

206 ITR 688Supreme Court of India1994#6574 most cited

What is H.H. Lakshmi Bhai v. CWT authority for?

A taxation statute must be strictly construed, and there is no room for equity in tax provisions.

17

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2022 to 2025.

Also referred to as

H.H. Lakshmi Bhai v. CWT · 206 ITR 688 · SC · taxation statute · strict construction · no equity in taxing provision · purposive interpretation · rule of consistency

Sections most often in play

Section 1961Section 143(3)Section 10Section 11Section 12Section 147Section 148Section 2(24)

Issues it is cited on

section 288asection 115vpurposive interpretationrule of consistencysection 288section 56(2)(viib)valuation of sharessection 2(24)escapement of incomeunexplained moneyincome from other sourcessection 56(2)

Judgments citing H.H. Lakshmi Bhai v. CWT

Yogi Satyam, Allahabad vs. ITO, Ward-1(5), Allahabad

The appeals are partly allowed

ITA 9/ALLD/2023[2016-17]Status: DisposedITAT Allahabad31 Oct 2025AY 2016-17

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Yogi Satyam, Allahabad vs. ITO, Ward- 1(5), Allahabad

The appeals are partly allowed

ITA 8/ALLD/2023[2015-16]Status: DisposedITAT Allahabad31 Oct 2025AY 2015-16

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Yogi Satyam, Allahabad vs. ITO, Ward- 1(5), Allahabad

The appeals are partly allowed

ITA 7/ALLD/2023[2014-15]Status: DisposedITAT Allahabad31 Oct 2025AY 2014-15

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Yogi Satyam, Allahabad vs. ITO, Ward- 1 (5), Allahabad

The appeals are partly allowed

ITA 6/ALLD/2023[2013-14]Status: DisposedITAT Allahabad31 Oct 2025AY 2013-14

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Sanjana, Allahabad vs. ITO, Ward-1(5), Allahabad

The appeals are partly allowed

ITA 54/ALLD/2023[2016-17]Status: DisposedITAT Allahabad31 Oct 2025AY 2016-17

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Sanjana, Allahabad vs. ITO, Ward- 1 (5), Allahabad

The appeals are partly allowed

ITA 53/ALLD/2023[2015-16]Status: DisposedITAT Allahabad31 Oct 2025AY 2015-16

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Sanjana, Allahabad vs. ITO, Ward- 1 (5), Allahabad

The appeals are partly allowed

ITA 52/ALLD/2023[2014-15]Status: DisposedITAT Allahabad31 Oct 2025AY 2014-15

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Sanjana, Allahabad vs. ITO, Ward- 1(5), Allahabad

The appeals are partly allowed

ITA 51/ALLD/2023[2013-14]Status: DisposedITAT Allahabad31 Oct 2025AY 2013-14

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Sanjana, Allahabad vs. ITO, Ward-1(5), Allahabad

The appeals are partly allowed

ITA 50/ALLD/2023[2012-13]Status: DisposedITAT Allahabad31 Oct 2025AY 2012-13

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Yogi Satyam, Allahabad vs. ITO, Ward- 1 (5), Allahabad

The appeals are partly allowed

ITA 5/ALLD/2023[2012-13]Status: DisposedITAT Allahabad31 Oct 2025AY 2012-13

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

For Appellant: Dr. Pawan Jaiswal and Shri AjitFor Respondent: Shri A. K. Singh, D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 Assessment Years:2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. Sanjana v. The Income Tax Officer D/o Surendra Nath Sharma Ward 1(5) Kriya Yog Ashram & Research Allahabad Institute Jhunsi, Allahabad (U.P) PAN:CTPPS6187L (Appellant) (Respondent) ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Assessment Years: 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17 Yogi Satyam v. The Income Tax Officer S/o Shri Dal Singar Singh Ward 1(5) Kriya Yo…

Incline Realty Pvt Ltd, Mumbai vs. DCIT, Central Circle -4(1), Mumbai

ITA 112/MUM/2025[2015-16]Status: DisposedITAT Mumbai11 Jun 2025AY 2015-16

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Vijay MehtaFor Respondent: Ms. Vranda Matkari
Section 143(3)Section 250Section 36(1)(iii)

…b of the 7 Assessment Year 2015-2016 courts to interpret the provisions only in the event of ambiguity or conflict and not where the provisions of the Ach are unequivocal. The ratio laid down by the Hon'ble Supreme Court in the case of N H Lakshmibhai vs CWT. 206 ITR 688 is relevant, wherein it was held that, it is settled law that a taxation statute in particular has to be strictly construed and that there is no equity in a taxing provision It is because of this that the strict interpretation of the proviso would cause hardship to small depositors as against the richer ones, even if true, has no relevant. 8.12.…

Kashish Multitrde Private Limited, Mumbai vs. Central Cirecle 4 (3), Mumbai

In the result the appeal filed by the assessee stands dismissed

ITA 6332/MUM/2024[2017-18]Status: DisposedITAT Mumbai18 Feb 2025AY 2017-18

Bench: Hon’Ble Shri Sandeep Gosainkashish Multi Trade Pvt Vs. Dcit, Cc- 4(3) Room No. 420, Kautilya Ltd., Bhavan, Bandra – 401-A, Pearl Arcade, 400051. Opp Pk Jwellers, Jp Road, Andheri – 400058. Pan/Gir No. Aacck7596A (Applicant) (Respondent)

Section 14ASection 250

…ngers and it is the job of the courts to interpret the provisions only in the event of ambiguity or conflict and not where the provisions of the Act are unequivocal. 7.8. The ratio laid down by the Hon'ble Supreme Court in the case of H Η Lakshmibhai vs CWT, 206 ITR 688 is relevant, wherein it was held that, "It is settled law that a taxation statute in particular has to be strictly construed and that there is no equity in a taxing provision. It is because of this that the strict interpretation of the proviso would cause hardship to small depositors as against the richer ones, even if true, has no relevance." 6…

Subhash Chand Kasera, New Delhi vs. ITO Ward - 47(1), New Delhi

Ground of Appeal 2 and 3 are dismissed

ITA 4092/DEL/2019[2015-16]Status: DisposedITAT Delhi30 Apr 2024AY 2015-16

Bench: Sh. M. Balaganesh & Ms. Madhumita Roy

Section 142Section 143(3)Section 54Section 54F

…that every Act of Parliament must be read according to the natural construction of its words." It is settled law that a taxation statute in particular has to be strictly construed and there is no equity in a taxing provision. H.H. Lakshmi Bai v/s. CIT [(1994) 206 ITR 688, 691 (SC)]. In A.V. Fernandez v/s. State if Kerala, [AIR 1957 SC 657] His Lordshi Bhagwati J. has stated the principle of taxing laws as follows: In construing fiscal statutes and in determining the liability of a subject to tax one must have regard to the strict letter of law. If the revenue satisfies the court that the case falls strictly wit…

Jajoo Hygiene P Ltd, Indore vs. The ACIT/DCIT 2(1), Indore

ITA 161/IND/2023[2017-18]Status: DisposedITAT Indore25 Oct 2023AY 2017-18

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2017-18 M/S. Jajoo Hygiene Pvt. Acit/Dcit, Ltd., 2(1), 304-A, Indore. बनाम/ Subhlabh Residency, Khajrana Chouraha, Vs. Indore. (Assessee / Appellant) (Revenue / Respondent) Pan: Aadcj 0657 Q Assessee By Shri Prakash Gupta, Ca & Shri Shashank Sharma, Ca Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2023 Date Of Pronouncement 25.10.2023

Section 143(3)Section 288BSection 50CSection 56Section 56(2)(viib)

…rounding off is required, the section itself makes provision for that. To support his contention the ld. Departmental Representative placed reliance on the decision of Hon'ble Supreme Court of India in the case of H.H. Laxmibai vs. Commissioner of Wealth Tax, 206 ITR 688. The ld. Departmental Representative further submitted that identical issue was considered by Kolkata Bench of the Tribunal in the case of Shresth Dealers Pvt. Ltd. vs. ITO in ITA No.2517/Kol/2018 for assessment year 2013-14 decided on 07/06/2019, wherein under similar facts the Tribunal upheld the addition made on account of rounding off fair ma…

ACIT 5 (1), Bhopal vs. M/S Vindhya Solvent Pvt. Ltd., Bhopal

In the result, Revenue’s appeal is dismissed

ITA 281/IND/2018[14-15]Status: DisposedITAT Indore18 Oct 2022

Bench: Ms. Madhumita Roy& Shri Bhagirath Mal Biyani

For Appellant: RespondentbyFor Respondent: Shri Sumit Nema, Sr
Section 142(1)Section 143(2)Section 143(3)Section 56(2)(viib)Section 68

…rt ought not, under any circumstances, to substitute its own impression and ideas in place of the legislative intent as is available from a plain reading of the statutory provisions. "(Emphasis Supplied) • HH Lakshrrd Bai v. Commissioner of Wealth-tax ([1994] 206 ITR 688) "It is settled law that taxation statute in particular has to be strictly construed and that there is no equity in a taxing provision. It is because of this that the submission of Ms. Ramachandran that strict interpretation of the proviso would cause hardship to small depositors as against the richer ones, even if true, has no relevance. "(Emph…

Rockdale Realtors Pvt Ltd., Mumbai vs. DCIT Circle-2 (1)(1), Mumbai

In the result, appeals by the respective assessees are dismissed

ITA 6740/MUM/2019[2014-15]Status: DisposedITAT Mumbai04 Mar 2022AY 2014-15

Bench: Shri Vikas Awasthyआअसं. 6739/मुं/2019 ("न.व 2014-15) Royal Accord Realtors Pvt. Ltd. 26, Onlooker Building, Sir P.M.Road, Fort, Mumbai 400 001 Pan: Aadcr-1352-G ...... अपीलाथ" /Appellant बनाम Vs. Dcit, Circle -2(1)(1) Aaykar Bhavan, M.K.Road, Mumbai 400 020 ..... ""तवाद"/Respondent आअसं. 6740/मुं/2019 ("न.व 2014-15) Rockdale Realtors Pvt.Ltd. 9, Datrutwa, Mmg Marg, Dadar East, Mumbai 400 014. Pan: Aadcr-1353-H ...... अपीलाथ" /Appellant बनाम Vs. Dcit, Circle -2(1)(1) Aaykar Bhavan, M.K.Road, Mumbai 400 020 ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : Shri Subodh Ratnaparkhi ""तवाद" "वारा/Respondent By : Shri T.Shankar सुनवाई क" "त"थ/ Date Of Hearing : 10/12/2021 घोषणा क" "त"थ/ Date Of Pronouncement : 04/03/2022 आदेश/ Order

For Appellant: Shri Subodh RatnaparkhiFor Respondent: Shri T.Shankar
Section 115VSection 288ASection 56(2)(viib)Section 79

…r rounding off is required, the section itself makes provision for that. To support his contention the ld.Departmental Representative placed reliance on the decision of Hon'ble Supreme Court of India in the case of H.H.Laxmibai vs. Commissioner of Wealth Tax, 206 ITR 688. The ld.Departmental Representative further submitted that identical issue was considered by Kolkata Bench of the Tribunal in the case of Shresth Dealers Pvt. Ltd. vs. ITO in ITA No.2517/Kol/2018 for assessment year 2013- 14 decided on 07/06/2019, wherein under similar facts the Tribunal upheld the addition made on account of rounding off fair ma…

Royal Accord Realtors Pvt Ltd., Mumbai vs. DCIT Circle-2(1)(1), Mumbai

In the result, appeals by the respective assessees are dismissed

ITA 6739/MUM/2019[2014-15]Status: DisposedITAT Mumbai04 Mar 2022AY 2014-15

Bench: Shri Vikas Awasthyआअसं. 6739/मुं/2019 ("न.व 2014-15) Royal Accord Realtors Pvt. Ltd. 26, Onlooker Building, Sir P.M.Road, Fort, Mumbai 400 001 Pan: Aadcr-1352-G ...... अपीलाथ" /Appellant बनाम Vs. Dcit, Circle -2(1)(1) Aaykar Bhavan, M.K.Road, Mumbai 400 020 ..... ""तवाद"/Respondent आअसं. 6740/मुं/2019 ("न.व 2014-15) Rockdale Realtors Pvt.Ltd. 9, Datrutwa, Mmg Marg, Dadar East, Mumbai 400 014. Pan: Aadcr-1353-H ...... अपीलाथ" /Appellant बनाम Vs. Dcit, Circle -2(1)(1) Aaykar Bhavan, M.K.Road, Mumbai 400 020 ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : Shri Subodh Ratnaparkhi ""तवाद" "वारा/Respondent By : Shri T.Shankar सुनवाई क" "त"थ/ Date Of Hearing : 10/12/2021 घोषणा क" "त"थ/ Date Of Pronouncement : 04/03/2022 आदेश/ Order

For Appellant: Shri Subodh RatnaparkhiFor Respondent: Shri T.Shankar
Section 115VSection 288ASection 56(2)(viib)Section 79

…r rounding off is required, the section itself makes provision for that. To support his contention the ld.Departmental Representative placed reliance on the decision of Hon'ble Supreme Court of India in the case of H.H.Laxmibai vs. Commissioner of Wealth Tax, 206 ITR 688. The ld.Departmental Representative further submitted that identical issue was considered by Kolkata Bench of the Tribunal in the case of Shresth Dealers Pvt. Ltd. vs. ITO in ITA No.2517/Kol/2018 for assessment year 2013- 14 decided on 07/06/2019, wherein under similar facts the Tribunal upheld the addition made on account of rounding off fair ma…

H.H. Lakshmi Bhai v. CWT (206 ITR 688) — Cited in 17 Judgments | BharatTax