H.S. Builders v. ITO

86 Taxmann 214Reported decision1996#21504 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 348,487 Indian tax judgments — from 2023 to 2023.

Issues it is cited on

section 145(1)trade creditorssection 158bcrejection of books of accountbest judgment assessmentsection 44aon-moneysection 44adsundry creditorssection 158bsection 158rule 46a

Judgments citing H.S. Builders v. ITO

M/S. Mega Aims, Bharuch vs. ITO, Ward-1(3), Bharuch

In the result, appeals filed by the Revenue (ITA Nos

ITA 751/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

Section 142(1)Section 143(2)Section 143(3)

…of Madhya Pradesh in the case of CIT Vs Chandrika Towers[2005] 275 ITR 173 (MP) have also upheld Net Profit rate of 8% in case of builders. I am also in agreement with the Authorized Representative that ITAT, Jaipur in the case of H.S. Builders Vs ITO (1996) 86 Taxmann 214 (Jaipur-Mag) accepted the Net Profit rate of 6% considering the past history of the case. The head note of the case reads as under:- Section 145(1) of the Income-tax Act, 1961 - Method of accounting - Estimation of profits - Assessment year 1991-92 - Assessee, carrying on construction business, declared net profit of 5 per cent on gross receip…

M/S. Mega Aims, Bharuch vs. ACIT, Circle-1, Bharuch

In the result, appeals filed by the Revenue (ITA Nos

ITA 750/SRT/2018[2013-14]Status: DisposedITAT Surat30 Mar 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

Section 142(1)Section 143(2)Section 143(3)

…of Madhya Pradesh in the case of CIT Vs Chandrika Towers[2005] 275 ITR 173 (MP) have also upheld Net Profit rate of 8% in case of builders. I am also in agreement with the Authorized Representative that ITAT, Jaipur in the case of H.S. Builders Vs ITO (1996) 86 Taxmann 214 (Jaipur-Mag) accepted the Net Profit rate of 6% considering the past history of the case. The head note of the case reads as under:- Section 145(1) of the Income-tax Act, 1961 - Method of accounting - Estimation of profits - Assessment year 1991-92 - Assessee, carrying on construction business, declared net profit of 5 per cent on gross receip…

Deputy Commissioner of Income Tax, Bharuch Circle-1, Bharuch vs. M/S. Mega Aims, Bharuch

In the result, appeals filed by the Revenue (ITA Nos

ITA 723/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

Section 142(1)Section 143(2)Section 143(3)

…of Madhya Pradesh in the case of CIT Vs Chandrika Towers[2005] 275 ITR 173 (MP) have also upheld Net Profit rate of 8% in case of builders. I am also in agreement with the Authorized Representative that ITAT, Jaipur in the case of H.S. Builders Vs ITO (1996) 86 Taxmann 214 (Jaipur-Mag) accepted the Net Profit rate of 6% considering the past history of the case. The head note of the case reads as under:- Section 145(1) of the Income-tax Act, 1961 - Method of accounting - Estimation of profits - Assessment year 1991-92 - Assessee, carrying on construction business, declared net profit of 5 per cent on gross receip…

Deputy Commissioner of Income Tax, Bharuch Circle-1, Bharuch vs. M/S. Mega Aims, Bharuch

In the result, appeals filed by the Revenue (ITA Nos

ITA 722/SRT/2018[2013-14]Status: DisposedITAT Surat30 Mar 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

Section 142(1)Section 143(2)Section 143(3)

…of Madhya Pradesh in the case of CIT Vs Chandrika Towers[2005] 275 ITR 173 (MP) have also upheld Net Profit rate of 8% in case of builders. I am also in agreement with the Authorized Representative that ITAT, Jaipur in the case of H.S. Builders Vs ITO (1996) 86 Taxmann 214 (Jaipur-Mag) accepted the Net Profit rate of 6% considering the past history of the case. The head note of the case reads as under:- Section 145(1) of the Income-tax Act, 1961 - Method of accounting - Estimation of profits - Assessment year 1991-92 - Assessee, carrying on construction business, declared net profit of 5 per cent on gross receip…