ITO v. Anand Builders

265 ITR 37Reported decision#3666 most cited

What is ITO v. Anand Builders authority for?

The profit from on-money receipts can be estimated. The Ahmedabad Tribunal had estimated this at 8%, which was upheld by the Gujarat High Court, and the Supreme Court dismissed the revenue's SLP in the case of ITO v. Anand Builders.

32

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2026.

Also referred to as

ITO v Anand Builders · 265 ITR 37 · on-money receipts · estimation of profit · Ahmedabad Tribunal · Gujarat High Court · Supreme Court SLP dismissal

Sections most often in play

Section 143(3)Section 153ASection 132Section 68Section 69CSection 133ASection 147Section 148

Issues it is cited on

section 158baon money receiptsection 256section 256(1)section 108section 113on-moneyblock periodsection 158bsection 158section 3(1)section 158bc

Judgments citing ITO v. Anand Builders

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)

…s. Anand Builders, wherein the Hon'ble Tribunal held that only 8% of gross receipt could be taxed in the case of a builder out of the on-money. Reference to the Hon'ble High Court was rejected and SLP against such rejection was also turned down as reported in 265 ITR 37 (St.) (g) M/s. Adinath construction vs. DCIT (unreported judgment of Hon'ble Ahmedabad tribunal) ITA NO.1975 & 1786/AHD/99 AND ITA NO.2167 & 2168/AHD/99 in which the Hon'ble ITAT held that entire on-money did not represent the recipient's income but only to the extent of 15% thereof can be taxed. (h) On 5th May,2021 the Mumbai bench of ITAT in c…

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)

…s. Anand Builders, wherein the Hon'ble Tribunal held that only 8% of gross receipt could be taxed in the case of a builder out of the on-money. Reference to the Hon'ble High Court was rejected and SLP against such rejection was also turned down as reported in 265 ITR 37 (St.) (g) M/s. Adinath construction vs. DCIT (unreported judgment of Hon'ble Ahmedabad tribunal) ITA NO.1975 & 1786/AHD/99 AND ITA NO.2167 & 2168/AHD/99 in which the Hon'ble ITAT held that entire on-money did not represent the recipient's income but only to the extent of 15% thereof can be taxed. (h) On 5th May,2021 the Mumbai bench of ITAT in c…

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)

…s. Anand Builders, wherein the Hon'ble Tribunal held that only 8% of gross receipt could be taxed in the case of a builder out of the on-money. Reference to the Hon'ble High Court was rejected and SLP against such rejection was also turned down as reported in 265 ITR 37 (St.) (g) M/s. Adinath construction vs. DCIT (unreported judgment of Hon'ble Ahmedabad tribunal) ITA NO.1975 & 1786/AHD/99 AND ITA NO.2167 & 2168/AHD/99 in which the Hon'ble ITAT held that entire on-money did not represent the recipient's income but only to the extent of 15% thereof can be taxed. (h) On 5th May,2021 the Mumbai bench of ITAT in c…

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)

…s. Anand Builders, wherein the Hon'ble Tribunal held that only 8% of gross receipt could be taxed in the case of a builder out of the on-money. Reference to the Hon'ble High Court was rejected and SLP against such rejection was also turned down as reported in 265 ITR 37 (St.) (g) M/s. Adinath construction vs. DCIT (unreported judgment of Hon'ble Ahmedabad tribunal) ITA NO.1975 & 1786/AHD/99 AND ITA NO.2167 & 2168/AHD/99 in which the Hon'ble ITAT held that entire on-money did not represent the recipient's income but only to the extent of 15% thereof can be taxed. (h) On 5th May,2021 the Mumbai bench of ITAT in c…

Dy. Commissioner of Income Tax, Central Circle-2(1), Chennai vs. Radiance Realty Developers India Ltd., Chennai

ITA 2982/CHNY/2024[2020-21]Status: DisposedITAT Chennai02 May 2025AY 2020-21

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

For Appellant: Mr.T.Banusekar, Advocate
Section 132Section 143(3)Section 148

…आयकर अपीलीय अिधकरण,’ए’"यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI "ी एबी टी. वक", "ाियक सद" एवं एवं एवं एवं "ी अिमता भशु"ा, लेखासद"केसम" BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER ITA Nos. 2978 - 2984/Chny/2024 & CO Nos. 11-17/Chny/2025 िनधा"रण वष"/Assessment Years: 2016-17 to 2022-23 The DCIT, M/s Radiance Realty- Central Circle-2(1), Developers India Ltd., Chennai. Radiance Towers, 1st Floor, 33 Feet Road, Anna Salai, Guindy, Chennai – 600 032. [PAN: AACCN5152H] (अपीलाथ"/Appellant) (""यथ"/Respondent/Cross Objector) ITA Nos.2971 - 2972/Ch…

Annapurna Properties, Mumbai vs. DCIT, Central Circle 1, Thane

In the result, the appeals filed by the assessee for the AYs

ITA 6961/MUM/2024[2021-22]Status: DisposedITAT Mumbai07 Mar 2025AY 2021-22

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee- A.Y. 2015-16 - A.Y. 2016-17 - A.Y. 2017-18 - A.Y. 2018-19 - A.Y. 2019-20 - A.Y. 2020-21 - A.Y. 2021-22 Annapurna Properties, Vs Dcit, Central Circle-1, Shop No.6, Room No.10, 6Th Floor, Rachana Chg Ltd, Ashar It Park, Opp. Joggers Park, Wagle Industrial Estate, Behind Laxminarayan Temple, Thane (W) Borivali West, Maharashtra Mumbai Pan : Aapfa1330G Appellant Respondent

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash, CIT- DR &
Section 132Section 143(3)Section 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon‟ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon‟ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8.3. We noticed that the assessee has declared average profit @ 9.01%. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 9%. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO…

Annapurna Properties, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6960/MUM/2024[2019-20]Status: DisposedITAT Mumbai07 Mar 2025AY 2019-20

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash, CIT- DR &
Section 132Section 143(3)Section 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. We noticed that the assessee has declared average profit @ 9.01%. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @9%. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the A…

Annapurna Properties, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6959/MUM/2024[2018-19]Status: DisposedITAT Mumbai07 Mar 2025AY 2018-19

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash, CIT- DR &
Section 132Section 143(3)Section 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. We noticed that the assessee has declared average profit @ 9.01%. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @9%. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO…

Annapurna Properties, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6958/MUM/2024[2017-18]Status: DisposedITAT Mumbai07 Mar 2025AY 2017-18

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash, CIT- DR &
Section 132Section 143(3)Section 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. We noticed that the assessee has declared average profit @ 9.01%. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @9%. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO…

Annapurna Properties, Mumbai vs. DCIT, Central Circle 1, Thane

In the result, the appeals filed by the assessee for the AYs

ITA 6957/MUM/2024[2016-17]Status: DisposedITAT Mumbai07 Mar 2025AY 2016-17

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee- A.Y. 2015-16 - A.Y. 2016-17 - A.Y. 2017-18 - A.Y. 2018-19 - A.Y. 2019-20 - A.Y. 2020-21 - A.Y. 2021-22 Annapurna Properties, Vs Dcit, Central Circle-1, Shop No.6, Room No.10, 6Th Floor, Rachana Chg Ltd, Ashar It Park, Opp. Joggers Park, Wagle Industrial Estate, Behind Laxminarayan Temple, Thane (W) Borivali West, Maharashtra Mumbai Pan : Aapfa1330G Appellant Respondent

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash, CIT- DR &
Section 132Section 143(3)Section 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon‟ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon‟ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8.3. We noticed that the assessee has declared average profit @ 9.01%. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 9%. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO…

Annapurna Properties, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6956/MUM/2024[2020-21]Status: DisposedITAT Mumbai07 Mar 2025AY 2020-21

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash, CIT- DR &
Section 132Section 143(3)Section 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. We noticed that the assessee has declared average profit @ 9.01%. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @9%. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO…

Annapurna Properties, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6935/MUM/2024[2015-16]Status: DisposedITAT Mumbai07 Mar 2025AY 2015-16

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash, CIT- DR &
Section 132Section 143(3)Section 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. We noticed that the assessee has declared average profit @ 9.01%. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 9%. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the…

Annapurna Buildcon Infra Private Limited, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6834/MUM/2024[2021-22]Status: DisposedITAT Mumbai06 Mar 2025AY 2021-22

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash CIT-DR
Section 132Section 143(3)Section 153ASection 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 8%, as pleaded by the assessee. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO to assess the profit from on- money…

Annapurna Buildcon Infra Private Limited, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6833/MUM/2024[2018-19]Status: DisposedITAT Mumbai06 Mar 2025AY 2018-19

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash CIT-DR
Section 132Section 143(3)Section 153ASection 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 8%, as pleaded by the assessee. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO to assess the profit from on- money…

Annapurna Buildcon Infra Private Limited, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6832/MUM/2024[2015-16]Status: DisposedITAT Mumbai06 Mar 2025AY 2015-16

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash CIT-DR
Section 132Section 143(3)Section 153ASection 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 8%, as pleaded by the assessee. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO to assess the profit from on- money…

Annapurna Buildcon Infra Private Limited, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6831/MUM/2024[2017-18]Status: DisposedITAT Mumbai06 Mar 2025AY 2017-18

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash CIT-DR
Section 132Section 143(3)Section 153ASection 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 8%, as pleaded by the assessee. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO to assess the profit from on- money…

Annapurna Buildcon Infra Private Limited, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6830/MUM/2024[2014-15]Status: DisposedITAT Mumbai06 Mar 2025AY 2014-15

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash CIT-DR
Section 132Section 143(3)Section 153ASection 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 8%, as pleaded by the assessee. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO to assess the profit from on- money…

Annapurna Buildcon Infra Private Limited, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6829/MUM/2024[2016-17]Status: DisposedITAT Mumbai06 Mar 2025AY 2016-17

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash CIT-DR
Section 132Section 143(3)Section 153ASection 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 8%, as pleaded by the assessee. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO to assess the profit from on- money…

Annapurna Buildcon Infra Private Limited, Thane vs. DCIT, Central Circle-1, Thane

ITA 6828/MUM/2024[2020-21]Status: DisposedITAT Mumbai06 Mar 2025AY 2020-21

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash CIT-DR
Section 132Section 143(3)Section 153ASection 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 8%, as pleaded by the assessee. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO to assess the profit from on- money…

Annapurna Buildcon Infra Private Limited, Mumbai vs. DCIT, Central Circle 1, Thane

ITA 6827/MUM/2024[2019-20]Status: DisposedITAT Mumbai06 Mar 2025AY 2019-20

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Vijay MehtaFor Respondent: Dr. K.R. Subhash CIT-DR
Section 132Section 143(3)Section 153ASection 68

…al had estimated the profit from on-money receipts @ 8% and the same was upheld by Hon'ble Gujarat High Court. It was submitted that the SLP filed by the revenue has been dismissed by Hon'ble Supreme Court in the same case of ITO Vs Anand Builders reported in 265 ITR 37(Stat.). 8. 3. Accordingly, we are of the view that, in the facts and circumstances of the present cases, the profit from alleged on-money receipts may be estimated @ 8%, as pleaded by the assessee. Accordingly, we set aside the orders passed by Ld CIT(A) on this issue in AY 2015-16 to 2020-21 and direct the AO to assess the profit from on- money…