(ii) Commissioner of Income-tax II v. Leo Formulations (P.)Ltd.

48 Taxmann.com 328High Court2014#9083 most cited

What is (ii) Commissioner of Income-tax II v. Leo Formulations (P.)Ltd. authority for?

Amounts received from sales do not automatically represent the income of an assessee when the assessee has not disclosed these sales, and such sales only represent the price received for goods acquired at a cost.

12

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2020 to 2026.

Also referred to as

CIT v. Leo Formulations P. Ltd · 48 taxmann.com 328 · sales · income · undisclosed sales · cost of goods · evidence · bank deposits · turnover

Sections most often in play

Section 115BBESection 133ASection 139(1)Section 143(3)Section 145Section 147Section 148Section 148A(b)

Issues it is cited on

section 256on money receiptsection 3(1)section 199section 158bcsource of sourcecreditworthiness of the creditoron-moneypenny stocksection 44addocuments seizedsection 148a(b)

Judgments citing (ii) Commissioner of Income-tax II v. Leo Formulations (P.)Ltd.

Deputy Commissioner of Income Tax (Central Circle)-1(4), Ahmedabad vs. Hindva Builders, Ahmedabad

In the result, all the four appeals of the Revenue are hereby dismissed

ITA 1563/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2017-18

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Sl.Nos.1 & 2 - Shri R.P. Rastogi, CIT-DR
Section 147Section 148Section 148ASection 149Section 250Section 3(1)

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “बी“, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD "ी संजय गग", "ाियक सद" एवं "ी नरे !साद िस"ा, लेखा सद" के सम%। ] ] Before Shri Sanjay Garg, Judicial Member And Shri Narendra Prasad Sinha, Accountant Member आयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(s) by : ITA No(s) Assess- No(s) अपीलाथ" / ""थ" / ment Appellant बनाम/vs. Respondent Year(s) ITA Nos. 1. 2015-16 DCIT Hindva Builders 1450/Ahd/2024 Central Circle- Survey No.495/3 1(4) Hindva Builders, Ahmedabad- Gangotri Bungalows- 380 009 To SP Ring Road Nikol Ahmedabad – 382 330 PAN: AAFFH 5284 A (Assessee)…

Deputy Commissioner of Income Tax, Central Circle-1(4), Ahmedabad vs. Hindva Builders, Ahmedabad

In the result, all the four appeals of the Revenue are hereby dismissed

ITA 1562/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2017-18

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Sl.Nos.1 & 2 - Shri R.P. Rastogi, CIT-DR
Section 147Section 148Section 148ASection 149Section 250Section 3(1)

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “बी“, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD "ी संजय गग", "ाियक सद" एवं "ी नरे !साद िस"ा, लेखा सद" के सम%। ] ] Before Shri Sanjay Garg, Judicial Member And Shri Narendra Prasad Sinha, Accountant Member आयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(s) by : ITA No(s) Assess- No(s) अपीलाथ" / ""थ" / ment Appellant बनाम/vs. Respondent Year(s) ITA Nos. 1. 2015-16 DCIT Hindva Builders 1450/Ahd/2024 Central Circle- Survey No.495/3 1(4) Hindva Builders, Ahmedabad- Gangotri Bungalows- 380 009 To SP Ring Road Nikol Ahmedabad – 382 330 PAN: AAFFH 5284 A (Assessee)…

DCIT, Central Circle-1(4), Ahmedabad vs. Hindva Builders, Ahmedabad

In the result, all the four appeals of the Revenue are hereby dismissed

ITA 1451/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2016-17

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Sl.Nos.1 & 2 - Shri R.P. Rastogi, CIT-DR
Section 147Section 148Section 148ASection 149Section 250Section 3(1)

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “बी“, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD "ी संजय गग", "ाियक सद" एवं "ी नरे !साद िस"ा, लेखा सद" के सम%। ] ] Before Shri Sanjay Garg, Judicial Member And Shri Narendra Prasad Sinha, Accountant Member आयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(s) by : ITA No(s) Assess- No(s) अपीलाथ" / ""थ" / ment Appellant बनाम/vs. Respondent Year(s) ITA Nos. 1. 2015-16 DCIT Hindva Builders 1450/Ahd/2024 Central Circle- Survey No.495/3 1(4) Hindva Builders, Ahmedabad- Gangotri Bungalows- 380 009 To SP Ring Road Nikol Ahmedabad – 382 330 PAN: AAFFH 5284 A (Assessee)…

DCIT, Central Circle-1(4), Ahmedabad vs. Hindva Builders, Ahmedabad

In the result, all the four appeals of the Revenue are hereby dismissed

ITA 1450/AHD/2024[2015-16]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2015-16

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Sl.Nos.1 & 2 - Shri R.P. Rastogi, CIT-DR
Section 147Section 148Section 148ASection 149Section 250Section 3(1)

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “बी“, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD "ी संजय गग", "ाियक सद" एवं "ी नरे !साद िस"ा, लेखा सद" के सम%। ] ] Before Shri Sanjay Garg, Judicial Member And Shri Narendra Prasad Sinha, Accountant Member आयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(s) by : ITA No(s) Assess- No(s) अपीलाथ" / ""थ" / ment Appellant बनाम/vs. Respondent Year(s) ITA Nos. 1. 2015-16 DCIT Hindva Builders 1450/Ahd/2024 Central Circle- Survey No.495/3 1(4) Hindva Builders, Ahmedabad- Gangotri Bungalows- 380 009 To SP Ring Road Nikol Ahmedabad – 382 330 PAN: AAFFH 5284 A (Assessee)…

DCIT, Central Circle- 4(3), Kolkata vs. Rajesh Jain, Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 1006/KOL/2024[2019-20]Status: DisposedITAT Kolkata17 Dec 2024AY 2019-20

Bench: Shri Rajesh Kumar, Am& Shri Pradip Kumar Choubey, Jm]

Section 132Section 132(4)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA [Before Shri Rajesh Kumar, AM& Shri Pradip Kumar Choubey, JM] I.T.A. Nos. 1005 & 1006/Kol/2024 Assessment Years: 2018-19 & 2019-20 DCIT, Centra Circle-4(3), Kolkata Vs. Rajesh Jain 34, Ballygunge Circular Road, Kolkata- 700019. (PAN: ACYPJ1553F) Appellant Respondent Date of conclusion of Hearing 12.12.2024 Date of Pronouncement 17.12.2024 For the Assessee Shri Akkal Dudhewala, AR For the Revenue Shri Praveen Kishore, CIT, DR ORDER Per Shri Rajesh Kumar, AM Both these appeals filed by the revenue are against the separate orders of Ld. CIT(A), Kolkata-27…

DCIT, CC-4(3), Kolkata vs. Rajesh Jain, Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 1005/KOL/2024[2018-19]Status: DisposedITAT Kolkata17 Dec 2024AY 2018-19

Bench: Shri Rajesh Kumar, Am& Shri Pradip Kumar Choubey, Jm]

Section 132Section 132(4)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA [Before Shri Rajesh Kumar, AM& Shri Pradip Kumar Choubey, JM] I.T.A. Nos. 1005 & 1006/Kol/2024 Assessment Years: 2018-19 & 2019-20 DCIT, Centra Circle-4(3), Kolkata Vs. Rajesh Jain 34, Ballygunge Circular Road, Kolkata- 700019. (PAN: ACYPJ1553F) Appellant Respondent Date of conclusion of Hearing 12.12.2024 Date of Pronouncement 17.12.2024 For the Assessee Shri Akkal Dudhewala, AR For the Revenue Shri Praveen Kishore, CIT, DR ORDER Per Shri Rajesh Kumar, AM Both these appeals filed by the revenue are against the separate orders of Ld. CIT(A), Kolkata-27…

Navin Kumar Jain, Indore vs. ITO ACIT Dycit Faceless Assessment, Indore

In the result, both appeals of the assessee are allowed

ITA 469/IND/2023[2014-15]Status: DisposedITAT Indore29 May 2024AY 2014-15

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 148

…ITANo.468 & 469/Ind/2023 1 Navin Kumar Jain आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No.468 & 469/Ind/2023 (Assessment Years: 2013-14 & 2014-15) Navin Kumar Jain ITO, NFAC Prop. Navin Garments Delhi 147, J.S. Readymade Market Vs. Imli Bazar Indore (Appellant / Assessee) (Respondent/ Revenue) PAN: ABTPJ1442M Assessee by Shri Gagan Tiwari, AR Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 09.05.2024 Date of Pronouncement 30.05.2024 O R D E R Per Vijay Pal Rao, J…

Navin Kumar Jain, Indore vs. Income Tax Officer Faceless Assessment Centre, Indore

In the result, both appeals of the assessee are allowed

ITA 468/IND/2023[2013-14]Status: DisposedITAT Indore29 May 2024AY 2013-14

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 148

…ITANo.468 & 469/Ind/2023 1 Navin Kumar Jain आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No.468 & 469/Ind/2023 (Assessment Years: 2013-14 & 2014-15) Navin Kumar Jain ITO, NFAC Prop. Navin Garments Delhi 147, J.S. Readymade Market Vs. Imli Bazar Indore (Appellant / Assessee) (Respondent/ Revenue) PAN: ABTPJ1442M Assessee by Shri Gagan Tiwari, AR Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 09.05.2024 Date of Pronouncement 30.05.2024 O R D E R Per Vijay Pal Rao, J…

M/S. Mandviwala Developers, Surat vs. The Dy.Commissioner of Income Tax, Circle-1(2), Surat

In the result, the appeal of the assessee is dismissed

ITA 1192/AHD/2016[2012-13]Status: DisposedITAT Surat26 Mar 2021AY 2012-13

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Court Hearing) M/S Mandviwala Developers, Vs Deputy Commissioner Of Income Survey No.405-406, Tax, Circle-1(2), Surat Opp. Din Dayal Ashram, Sachin Magdalla Road, Surat (Gujarat). Pan : Aaqfm7563C Appellant Respondednt

Section 133ASection 143(2)Section 254(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER (Virtual Court Hearing) M/s Mandviwala Developers, Vs Deputy Commissioner of Income Survey No.405-406, Tax, Circle-1(2), Surat Opp. Din Dayal Ashram, Sachin Magdalla Road, Surat (Gujarat). PAN : AAQFM7563C APPELLANT RESPONDEDNT Appellant by Shri Saurabh Soparkar, Sr. Advocate with Ms Urvashi Shodhan Advocate Respondent by Shri S T Bidari, CIT (DR) & Sh. O.P Vaishnav CIT-DR Date of hearing 05/02/2021 Date of pronouncement 26/03/2021 Order Under section 254(1) of Income-ta…

DCIT, Central Circle- 19, New Delhi vs. Amq Agro India Pvt. Ltd., New Delhi

In the result, the appeals filed by the Revenue for A

ITA 4287/DEL/2018[2008-09]Status: DisposedITAT Delhi29 May 2020AY 2008-09

Bench: Shri R.K. Panda & Shri K.Narasimha

For Appellant: Shri Hiren Mehta, CAFor Respondent: Ms Pramita M. Biswas, CIT, DR
Section 10ASection 132(1)Section 153ASection 245D(4)

…s cannot be added to income but only the net profit, the ld. Counsel for the assessee relied on the following decisions:- (i) CIT v. President Industries 124Taxman.com 654; (ii) CIT v. Sameer Synthetics Mill 362 ITR 410; (iii) CIT v. Leo Formulation Pvt. Ltd. 48 Taxmann.com 328; (iv) CIT v. Bahubali Neminath Muttin 72 Taxmann.com 139 (v) CIT v. Aggarwal Engg. Co. (Jal) 156 Taxmann.40. 39. So far as the observation of the CIT(A) that the assessee did not produce any material in support of its contention that undisclosed income of Rs.1.85 crore voluntarily declared in the return filed in response to section 153A n…

Amq Agro India Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result, the appeals filed by the Revenue for A

ITA 2801/DEL/2018[2008-09]Status: DisposedITAT Delhi29 May 2020AY 2008-09

Bench: Shri R.K. Panda & Shri K.Narasimha

For Appellant: Shri Hiren Mehta, CAFor Respondent: Ms Pramita M. Biswas, CIT, DR
Section 10ASection 132(1)Section 153ASection 245D(4)

…s cannot be added to income but only the net profit, the ld. Counsel for the assessee relied on the following decisions:- (i) CIT v. President Industries 124Taxman.com 654; (ii) CIT v. Sameer Synthetics Mill 362 ITR 410; (iii) CIT v. Leo Formulation Pvt. Ltd. 48 Taxmann.com 328; (iv) CIT v. Bahubali Neminath Muttin 72 Taxmann.com 139 (v) CIT v. Aggarwal Engg. Co. (Jal) 156 Taxmann.40. 39. So far as the observation of the CIT(A) that the assessee did not produce any material in support of its contention that undisclosed income of Rs.1.85 crore voluntarily declared in the return filed in response to section 153A n…

Amq Agro India Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result, the appeals filed by the Revenue for A

ITA 169/DEL/2018[2011-12]Status: DisposedITAT Delhi29 May 2020AY 2011-12

Bench: Shri R.K. Panda & Shri K.Narasimha

For Appellant: Shri Hiren Mehta, CAFor Respondent: Ms Pramita M. Biswas, CIT, DR
Section 10ASection 132(1)Section 153ASection 245D(4)

…s cannot be added to income but only the net profit, the ld. Counsel for the assessee relied on the following decisions:- (i) CIT v. President Industries 124Taxman.com 654; (ii) CIT v. Sameer Synthetics Mill 362 ITR 410; (iii) CIT v. Leo Formulation Pvt. Ltd. 48 Taxmann.com 328; (iv) CIT v. Bahubali Neminath Muttin 72 Taxmann.com 139 (v) CIT v. Aggarwal Engg. Co. (Jal) 156 Taxmann.40. 39. So far as the observation of the CIT(A) that the assessee did not produce any material in support of its contention that undisclosed income of Rs.1.85 crore voluntarily declared in the return filed in response to section 153A n…

(ii) Commissioner of Income-tax II v. Leo Formulations (P.)Ltd. (48 Taxmann.com 328) — Cited in 12 Judgments | BharatTax