Industrial Co. (P.) Ltd. vs. CIT, 108 ITR 424 (Cal.); (iii) Badrinath Agarwal v. CIT

341 ITR 588High Court2012#5124 most cited
23

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2020 to 2025.

Sections most often in play

Section 143(3)Section 145(3)Section 132Section 40A(3)Section 115BBESection 139Section 153ASection 37(1)

Issues it is cited on

section 153cofprohibited by lawassessment order erroneoussection 40a(3)section 145(3)section 40asearch assessmentsection 153dlive linkrejection of books of accountsection 40section 37(1)

Judgments citing Industrial Co. (P.) Ltd. vs. CIT, 108 ITR 424 (Cal.); (iii) Badrinath Agarwal v. CIT

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

ITA 1615/CHNY/2025[2019-20]Status: DisposedITAT Chennai01 Dec 2025AY 2019-20

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकरअपीलसं./Ita Nos. 1613 To 1615/Chny/2025 िनधा"रणवष"/Assessment Years: 2018-19 & 2019-20

For Appellant: Mr. N. Arjun Raj, AdvocateFor Respondent: Mrs. C. Yamuna, CIT &
Section 132Section 153CSection 250

…ns rendered At this juncture it is appropriate to rely upon the decisions rendered by the Hon’ble Allahabad High Court in the case of by the Hon’ble Allahabad High Court in the case of Shri Venkteshwar Sugar Mills Shri Venkteshwar Sugar Mills v. CIT(A) (2012) 341 ITR 588 (All v. CIT(A) (2012) 341 ITR 588 (All) wherein the Hon’ble High Court has wherein the Hon’ble High Court has concurred with the decision of the ITAT in upholding the rejection of books of concurred with the decision of the ITAT in upholding the rejection of books of concurred with the decision of the ITAT in upholding the rejection of books of a…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

ITA 1614/CHNY/2025[2019-20]Status: DisposedITAT Chennai01 Dec 2025AY 2019-20

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकरअपीलसं./Ita Nos. 1613 To 1615/Chny/2025 िनधा"रणवष"/Assessment Years: 2018-19 & 2019-20

For Appellant: Mr. N. Arjun Raj, AdvocateFor Respondent: Mrs. C. Yamuna, CIT &
Section 132Section 153CSection 250

…ns rendered At this juncture it is appropriate to rely upon the decisions rendered by the Hon’ble Allahabad High Court in the case of by the Hon’ble Allahabad High Court in the case of Shri Venkteshwar Sugar Mills Shri Venkteshwar Sugar Mills v. CIT(A) (2012) 341 ITR 588 (All v. CIT(A) (2012) 341 ITR 588 (All) wherein the Hon’ble High Court has wherein the Hon’ble High Court has concurred with the decision of the ITAT in upholding the rejection of books of concurred with the decision of the ITAT in upholding the rejection of books of concurred with the decision of the ITAT in upholding the rejection of books of a…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

ITA 1613/CHNY/2025[2018-19]Status: DisposedITAT Chennai01 Dec 2025AY 2018-19

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकरअपीलसं./Ita Nos. 1613 To 1615/Chny/2025 िनधा"रणवष"/Assessment Years: 2018-19 & 2019-20

For Appellant: Mr. N. Arjun Raj, AdvocateFor Respondent: Mrs. C. Yamuna, CIT &
Section 132Section 153CSection 250

…ns rendered At this juncture it is appropriate to rely upon the decisions rendered by the Hon’ble Allahabad High Court in the case of by the Hon’ble Allahabad High Court in the case of Shri Venkteshwar Sugar Mills Shri Venkteshwar Sugar Mills v. CIT(A) (2012) 341 ITR 588 (All v. CIT(A) (2012) 341 ITR 588 (All) wherein the Hon’ble High Court has wherein the Hon’ble High Court has concurred with the decision of the ITAT in upholding the rejection of books of concurred with the decision of the ITAT in upholding the rejection of books of concurred with the decision of the ITAT in upholding the rejection of books of a…

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2), CHENNAI

ITA 1548/CHNY/2025[2019-20]Status: DisposedITAT Chennai01 Dec 2025AY 2019-20

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकरअपीलसं./Ita Nos. 1613 To 1615/Chny/2025 िनधा"रणवष"/Assessment Years: 2018-19 & 2019-20

For Appellant: Mr. N. Arjun Raj, AdvocateFor Respondent: Mrs. C. Yamuna, CIT &
Section 132Section 153CSection 250

…ns rendered At this juncture it is appropriate to rely upon the decisions rendered by the Hon’ble Allahabad High Court in the case of by the Hon’ble Allahabad High Court in the case of Shri Venkteshwar Sugar Mills Shri Venkteshwar Sugar Mills v. CIT(A) (2012) 341 ITR 588 (All v. CIT(A) (2012) 341 ITR 588 (All) wherein the Hon’ble High Court has wherein the Hon’ble High Court has concurred with the decision of the ITAT in upholding the rejection of books of concurred with the decision of the ITAT in upholding the rejection of books of concurred with the decision of the ITAT in upholding the rejection of books of a…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PRIVATE LIMITED, CHENNAI

ITA 1817/CHNY/2025[2020-21]Status: DisposedITAT Chennai21 Nov 2025AY 2020-21

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

For Appellant: Mr. N. Arjun Raj, AdvocateFor Respondent: Mrs. C. Yamuna, CIT &
Section 132Section 139Section 153CSection 250

…ons rendered by the Hon’ble Allahabad High Court in the case of rendered by the Hon’ble Allahabad High Court in the case of rendered by the Hon’ble Allahabad High Court in the case of Shri Venkteshwar Sugar Mills v. CI Venkteshwar Sugar Mills v. CIT(A) (2012) 341 ITR 588 (All) ) wherein the Hon’ble High Court has concurred with the decision of the ITAT in Hon’ble High Court has concurred with the decision of the ITAT in Hon’ble High Court has concurred with the decision of the ITAT in upholding the rejection of books of account maintained by the assessee upholding the rejection of books of account maintained by t…

BHUJBAL BROTHERS CONSTRUCTION COMPANY,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(3), PUNE

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

ITA 2137/PUN/2024[2017-18]Status: DisposedITAT Pune21 Apr 2025AY 2017-18

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

For Respondent: Shri Chandra Vijay &
Section 142Section 142(1)Section 144Section 43C

…nce can be made to the following decisions:- (i) CIT vs. K.Y. Pilliah& Sons, 63 ITR 411 (SC); (ii) (Dabros Industrial Co. (P) Ltd. vs. CIT. 108 ITR 424 (Cal.); (iii) Badrinath Agarwal vs. CIT, 65 ITR 242 (All.); and, (iv) Shri Venkteshwar Sugar Mills vs. CIT, 341 ITR 588 (AII.). 13. it is also settled position of law that the Assessing Officer cannot rely on the same books of accounts which are rejected for the purpose of making any other additions as held by the Hon'ble Andhra Pradesh High Court in the case of Indwell Constructions vs. CIT, 232 ITR 776 (Andhra Pradesh), Hon'ble Rajasthan High Court in the case o…

ASSISTANT COMMISSIONER OF INCOME TAX, PUNE vs. BHUJBAL BROTHERS CONSTRUCTION COMPANY, PUNE

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

ITA 2119/PUN/2024[2017-18]Status: DisposedITAT Pune21 Apr 2025AY 2017-18

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

For Respondent: Shri Chandra Vijay &
Section 142Section 142(1)Section 144Section 43C

…nce can be made to the following decisions:- (i) CIT vs. K.Y. Pilliah& Sons, 63 ITR 411 (SC); (ii) (Dabros Industrial Co. (P) Ltd. vs. CIT. 108 ITR 424 (Cal.); (iii) Badrinath Agarwal vs. CIT, 65 ITR 242 (All.); and, (iv) Shri Venkteshwar Sugar Mills vs. CIT, 341 ITR 588 (AII.). 13. it is also settled position of law that the Assessing Officer cannot rely on the same books of accounts which are rejected for the purpose of making any other additions as held by the Hon'ble Andhra Pradesh High Court in the case of Indwell Constructions vs. CIT, 232 ITR 776 (Andhra Pradesh), Hon'ble Rajasthan High Court in the case o…

SEBCO PROPERTY PRIVATE LIMITED,TRICHY vs. DCIT CENTRAL CIRCLE 2, TRICHY

In the result, all the appeals stand dismissed

ITA 1471/CHNY/2024[2021-22]Status: DisposedITAT Chennai15 Jan 2025AY 2021-22

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

SEBCO PROPERTY PRIVATE LIMITED,TRICHY vs. DCIT CENTRAL CIRCLE 2, TRICHY

In the result, all the appeals stand dismissed

ITA 1470/CHNY/2024[2020-21]Status: DisposedITAT Chennai15 Jan 2025AY 2020-21

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

SEBCO PROPERTY PRIVATE LIMITED,TRICHY vs. DCIT CENTRAL CIRCLE 2, TRICHY

In the result, all the appeals stand dismissed

ITA 1469/CHNY/2024[2019-20]Status: DisposedITAT Chennai15 Jan 2025AY 2019-20

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

SEBCO PROPERTY PRIVATE LIMITED,TRICHY vs. DCIT CENTRAL CIRCLE 2, TRICHY

In the result, all the appeals stand dismissed

ITA 1468/CHNY/2024[2018-19]Status: DisposedITAT Chennai15 Jan 2025AY 2018-19

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

SEBCO PROPERTY PRIVATE LIMITED,TRICHY vs. DCIT CENTRAL CIRCLE 2, TRICHY

In the result, all the appeals stand dismissed

ITA 1467/CHNY/2024[2017-18]Status: DisposedITAT Chennai15 Jan 2025AY 2017-18

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

ITA 1432/CHNY/2024[2021-22]Status: DisposedITAT Chennai15 Jan 2025AY 2021-22

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

ITA 1431/CHNY/2024[2020-21]Status: DisposedITAT Chennai15 Jan 2025AY 2020-21

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

ITA 1430/CHNY/2024[2019-20]Status: DisposedITAT Chennai15 Jan 2025AY 2019-20

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

ITA 1429/CHNY/2024[2018-19]Status: DisposedITAT Chennai15 Jan 2025AY 2018-19

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

ITA 1428/CHNY/2024[2017-18]Status: DisposedITAT Chennai15 Jan 2025AY 2017-18

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

For Appellant: Shri R. Venkata Raman (CA) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 153ASection 153D

…ied upon to determine the income of the assessee. The assessee failed to reconcile the errors in its books of account. Under these circumstances, the books were to be rejected u/s 145(3) as held by Hon’ble Allahabad High Court in Shri Venkteshwar Sugar Mills (341 ITR 588) upholding the decision of Tribunal in rejecting the books of accounts since the same were not properly maintained. Similarly, Hon’ble Punjab & Haryana High Court in Mahavir Rice Mills v. CIT (153 Taxmann.com 686) upheld the estimation made by rejecting the books of account of the assessee in the absence of details of stock. Similar was the deci…

FIVE STARCONSTRUCTION COMPANY,BHILAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), BHILAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

ITA 45/RPR/2018[2014-15]Status: DisposedITAT Raipur29 May 2023AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.45/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Five Star Construction Company Plot No.96-97, Light Industrial Area, Chawani Chowk, Bhilai (C.G)-490026 Pan : Aaaff4316L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri Piyush Tripathi, Sr. DR
Section 133ASection 143(2)Section 144Section 40A(3)Section 68Section 69C

…ce can be made to the following decisions:- (i) CIT vs. K.Y. Pilliah & Sons, 63 ITR 411 (SC); (ii) Dabros Industrial Co. (P.) Ltd. vs. CIT, 108 ITR 424 (Cal.); (iii) Badrinath Agarwal vs. CIT, 65 ITR 242 (All.); and, (iv) Shri Venkteshwar Sugar Mills vs. CIT, 341 ITR 588 (All.). 13. It is also settled position of law that the Assessing Officer cannot rely on the same books of accounts which are rejected for the purpose of making any other additions as held by the Hon’ble Andhra Pradesh High Court in the case of Indwell Constructions vs. CIT, 232 ITR 776 (Andhra Pradesh), Hon’ble Rajasthan High Court in the case o…

ISMT LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,,

ITA 2784/PUN/2016[2012-13]Status: DisposedITAT Pune06 Dec 2021AY 2012-13

Bench: Shri Inturi Rama Rao, Am & Shri S. S. Viswanethra Ravi, Jm आयकर अपील सं. / Ita Nos.2751 & 2752/Pun/2016 िनधा"रण वष" / Assessment Years : 2011-12 & 2012-13 Acit, Central Circle- 2(1), .......अपीलाथ" / Appellant Pune. बनाम / V/S. M/S. Ismt Limited, 2Nd Floor, Lunkad Towers, Viman Nagar, Pune-411014. ……""यथ" / Respondent Pan : Aaacj9917A आयकर अपील सं. / Ita Nos.2783 & 2784/Pun/2016 िनधा"रण वष" / Assessment Years : 2011-12 & 2012-13 M/S. Ismt Limited, 2Nd Floor, Lunkad Towers, Viman Nagar, Pune-411014. .......अपीलाथ" / Appellant Pan : Aaacj9917A बनाम / V/S. Dcit, Central Circle- 2(1), ……""यथ" / Respondent Pune. Revenue By : Shri Deepak Garg Assessee By : Shri Rajan Vora Shri Rajendra Agiwal सुनवाई क" तारीख / Date Of Hearing : 29.10.2021 घोषणा क" तारीख / Date Of Pronouncement : 06.12.2021 आदेश / Order Per Inturi Rama Rao, Am: These Are The Cross Appeals Filed By The Revenue As Well As By The Assessee Directed Against The Common Orders Of Ld. Commissioner Of Income

For Appellant: Shri Rajan VoraFor Respondent: Shri Deepak Garg
Section 115JSection 132Section 132(4)Section 143(3)Section 153A

…e can be made to the following decisions :- (i) CIT vs. K.Y. Pilliah & Sons, 63 ITR 411 (SC); (ii) Dabros Industrial Co. (P.) Ltd. vs. CIT, 108 ITR 424 (Cal.); (iii) Badrinath Agarwal vs. CIT, 65 ITR 242 (All.); and, (iv) Shri Venkteshwar Sugar Mills vs. CIT, 341 ITR 588 (All.). 13. It is also settled position of law that the Assessing Officer cannot rely on the same books of accounts which are rejected for the purpose of making any other additions as held by the Hon’ble Andhra Pradesh High Court in the ITA Nos.2783 & 2784/PUN/2016 case of Indwell Constructions vs. CIT, 232 ITR 776 (Andhra Pradesh), Hon’ble Rajas…

ISMT LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,,

ITA 2783/PUN/2016[2011-12]Status: DisposedITAT Pune06 Dec 2021AY 2011-12

Bench: Shri Inturi Rama Rao, Am & Shri S. S. Viswanethra Ravi, Jm आयकर अपील सं. / Ita Nos.2751 & 2752/Pun/2016 िनधा"रण वष" / Assessment Years : 2011-12 & 2012-13 Acit, Central Circle- 2(1), .......अपीलाथ" / Appellant Pune. बनाम / V/S. M/S. Ismt Limited, 2Nd Floor, Lunkad Towers, Viman Nagar, Pune-411014. ……""यथ" / Respondent Pan : Aaacj9917A आयकर अपील सं. / Ita Nos.2783 & 2784/Pun/2016 िनधा"रण वष" / Assessment Years : 2011-12 & 2012-13 M/S. Ismt Limited, 2Nd Floor, Lunkad Towers, Viman Nagar, Pune-411014. .......अपीलाथ" / Appellant Pan : Aaacj9917A बनाम / V/S. Dcit, Central Circle- 2(1), ……""यथ" / Respondent Pune. Revenue By : Shri Deepak Garg Assessee By : Shri Rajan Vora Shri Rajendra Agiwal सुनवाई क" तारीख / Date Of Hearing : 29.10.2021 घोषणा क" तारीख / Date Of Pronouncement : 06.12.2021 आदेश / Order Per Inturi Rama Rao, Am: These Are The Cross Appeals Filed By The Revenue As Well As By The Assessee Directed Against The Common Orders Of Ld. Commissioner Of Income

For Appellant: Shri Rajan VoraFor Respondent: Shri Deepak Garg
Section 115JSection 132Section 132(4)Section 143(3)Section 153A

…e can be made to the following decisions :- (i) CIT vs. K.Y. Pilliah & Sons, 63 ITR 411 (SC); (ii) Dabros Industrial Co. (P.) Ltd. vs. CIT, 108 ITR 424 (Cal.); (iii) Badrinath Agarwal vs. CIT, 65 ITR 242 (All.); and, (iv) Shri Venkteshwar Sugar Mills vs. CIT, 341 ITR 588 (All.). 13. It is also settled position of law that the Assessing Officer cannot rely on the same books of accounts which are rejected for the purpose of making any other additions as held by the Hon’ble Andhra Pradesh High Court in the ITA Nos.2783 & 2784/PUN/2016 case of Indwell Constructions vs. CIT, 232 ITR 776 (Andhra Pradesh), Hon’ble Rajas…

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