(i) Godhra Electricity Company Ltd. v. CIT

385 ITR 295Supreme Court of India#6371 most cited

What is (i) Godhra Electricity Company Ltd. v. CIT authority for?

Income that is hypothetical or not actually earned cannot be taxed in the hands of the assessee. Real income, not notional income, is the basis for taxation.

18

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2025.

Also referred to as

Godhra Electricity Company Ltd. v. CIT · 385 ITR 295 SC · real income · hypothetical income · taxation of income · imputation of interest · outstanding loans

Sections most often in play

Section 142(2A)Section 143(3)Section 147Section 14ASection 2(22)(e)Section 40(a)(ia)Section 40A(2)(b)Section 40A(3)

Issues it is cited on

section 40(3)short deduction of tdsinterest on interestclosely held companyshort deduction of taxaccumulated profitsrelated party transactionsection 194jsection 40a(2)(b)section 142(2a)section 14a(2)section 2(22)

Judgments citing (i) Godhra Electricity Company Ltd. v. CIT

DCIT CENTRAL CIRCLE-01, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORPORATION LTD. , KOLKATA

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

ITA 5793/DEL/2019[2016-17]Status: DisposedITAT Delhi23 Dec 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

ACIT, CENTRAL CIRCLE- 1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORPORATION, KOLKATA

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

ITA 2369/DEL/2018[2015-16]Status: DisposedITAT Delhi23 Dec 2025AY 2015-16

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

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

ITA 1893/DEL/2018[2015-16]Status: DisposedITAT Delhi23 Dec 2025AY 2015-16

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

ACIT, CC- 1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORP. LTD., KOLKATA

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

ITA 5534/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Dec 2025AY 2014-15

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

ACIT, CC- 1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORP. LTD., KOLKATA

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

ITA 5505/DEL/2017[2013-2014]Status: DisposedITAT Delhi23 Dec 2025AY 2013-2014

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

ACIT, CC- 1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORP. LTD., KOLKATA

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

ITA 5504/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Dec 2025AY 2012-13

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

ACIT, CENTRAL CIRCLE-1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORP. LTD, LUCKNOW

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

ITA 4855/DEL/2017[2010-11]Status: DisposedITAT Delhi23 Dec 2025AY 2010-11

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

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

ITA 4731/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Dec 2025AY 2014-15

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

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

ITA 4730/DEL/2017[2013-14]Status: DisposedITAT Delhi23 Dec 2025AY 2013-14

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

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

ITA 4729/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Dec 2025AY 2012-13

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

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

ITA 4728/DEL/2017[2010-11]Status: DisposedITAT Delhi23 Dec 2025AY 2010-11

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

SAHARA INDIA COMMERCIAL CORPN. LTD.,KOLKATA vs. ACIT, NEW DELHI

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

ITA 2795/DEL/2017[2011-12]Status: DisposedITAT Delhi23 Dec 2025AY 2011-12

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

DCIT, NEW DELHI vs. M/S. SAHARA INDIA COMMERCIAL CORPORATION LTD., KOLKATA

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

ITA 2620/DEL/2013[2009-10]Status: DisposedITAT Delhi23 Dec 2025AY 2009-10

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

SAHARA INDIA,KOLKATA vs. DCIT, NEW DELHI

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

ITA 1977/DEL/2013[2009-10]Status: DisposedITAT Delhi23 Dec 2025AY 2009-10

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

COBOL TECHNOLOGIES P.LTD,NEW DELHI vs. ACIT, CENTRAL CIRCLE-18, NEW DELHI

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

ITA 5505/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Apr 2025AY 2014-15

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

M/S YUM RESTAURANTS (INDIA) PVT. LTD.,,GURGAON vs. ITO, NEW DELHI

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

ITA 2369/DEL/2016[1999-00]Status: DisposedITAT Delhi11 Feb 2025AY 1999-00

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

MEHRUNNISAN SHERWANI,OKHLA vs. INCOME TAX OFFICER W 28(1), DELHI

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

ITA 4728/DEL/2024[2012-2013]Status: DisposedITAT Delhi06 Jan 2025AY 2012-2013

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…tress the submissions that only real income and not hypothetical income can be taxed in the hands of the assessee reliance was placed on following decisions: (i) Godhra Electricity Company Ltd. vs. CIT, 225 ITR 746 (SC); & (ii) CIT vs. Excel Industries Ltd., 385 ITR 295 (SC). 70.1. A perusal of the impugned order shows that the AO and the CIT(A) have made addition of Rs.94,83,439/- by imputing interest @12% per annum in respect of outstanding loans from Neha International Ltd. and M/s. Royal Refinery. The CIT(A) in para 8.10 of the impugned order has recorded finding of fact that the Terms & Conditions for exten…

M/S. PARBHAT HEAVY FORGE PVT. LTD.,PUNJAB vs. ADDL. CIT, KARNAL

In the result, appeal of the assessee is allowed partly for statistical purposes

ITA 5288/DEL/2016[2011-12]Status: DisposedITAT Delhi20 Jun 2018AY 2011-12

Bench: Sh. Amit Shukla & Sh.O.P. Kantassessment Year: 2011-12 Prabhat Heavy Forge Pvt. Vs. Addl.Cit, Ltd., Karnal Range, Karnal V. Gupta & Associates, Cas, D-15, Calibre Market, Rajpur Punjab Pan :Aaccp6521A (Appellant) (Respondent) Appellant By Sh. Sandeep Sapra, Adv. Respondent By Sh. Atiq Ahmed, Sr.Dr

Section 143(2)Section 143(3)Section 36Section 36(1)(iii)Section 40A(2)(b)

…change in the facts and circumstances, when compared with earlier years, therefore, in view of the rule of consistency, the disallowance deserve to be deleted. In support of the rule of consistency, the Ld. counsel relied on following judicial precedents: " 385 ITR 295, CIT Vs. Excel Industries Ltd. (Supreme court) 11 " 193 ITR 321-323 Radhasoami Satsang Vs. CIT (Supreme Court) also followed by P&H High Court in 278 ITR 262. " 264 ITR 276, CIT Vs. ARG Securities Printers (Jurisdictional Delhi High Court). " 300 ITR 75 (Delhi), Director of Income Tax (E) Escorts Cardiac Diseases. 5.3 On the contrary, the Ld. D…

(i) Godhra Electricity Company Ltd. v. CIT (385 ITR 295) — Cited in 18 Judgments | BharatTax