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

Vanavil Estate, Chennai vs. PCIT Central, Chennai

In the result, the appeal for both AYs 2017

ITA 926/CHNY/2024[2018-19]Status: DisposedITAT Chennai12 Feb 2025AY 2018-19

Bench: Shri Aby T. Varkey & Shri Jagadishआयकरअपीलसं./Ita Nos.925 & 926/Chny/2024 िनधा"रणवष"/Assessment Years: 2017-18 & 2018-19 V. Vanavil Estate, The Pcit (Central), 4/20, Duraiswamy Reddy Street, Chennai-1. West Tambaram, Chennai-600 045. [Pan: Aalfv 0770 H] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri R. Clement Ramesh-
Section 133ASection 148Section 263

…arat High Court and the SLP filed against the judgment before the Supreme Court filed against the judgment before the Supreme Court [SLP(C) no 14166 0f [SLP(C) no 14166 0f 2003] was also dismissed and reported in 265 ITR 3 was also dismissed and reported in 265 ITR 37 as under; as under;- "Dismissed the special leave petition filed by the Department "Dismissed the special leave petition filed by the Department "Dismissed the special leave petition filed by the Department against the judgment dated January 21, 2002 of the Gujarat High Court in ITA No. judgment dated January 21, 2002 of the Gujarat High Court in…

Vanavil Estate, Chennai vs. PCIT(Central), Chennai

In the result, the appeal for both AYs 2017

ITA 925/CHNY/2024[2017-18]Status: DisposedITAT Chennai12 Feb 2025AY 2017-18

Bench: Shri Aby T. Varkey & Shri Jagadishआयकरअपीलसं./Ita Nos.925 & 926/Chny/2024 िनधा"रणवष"/Assessment Years: 2017-18 & 2018-19 V. Vanavil Estate, The Pcit (Central), 4/20, Duraiswamy Reddy Street, Chennai-1. West Tambaram, Chennai-600 045. [Pan: Aalfv 0770 H] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri R. Clement Ramesh-
Section 133ASection 148Section 263

…arat High Court and the SLP filed against the judgment before the Supreme Court filed against the judgment before the Supreme Court [SLP(C) no 14166 0f [SLP(C) no 14166 0f 2003] was also dismissed and reported in 265 ITR 3 was also dismissed and reported in 265 ITR 37 as under; as under;- "Dismissed the special leave petition filed by the Department "Dismissed the special leave petition filed by the Department "Dismissed the special leave petition filed by the Department against the judgment dated January 21, 2002 of the Gujarat High Court in ITA No. judgment dated January 21, 2002 of the Gujarat High Court in…

Assistant Commissioner of Income-Tax, Madurai vs. Alba Industries Limited, Chennai

ITA 287/CHNY/2024[2019-20]Status: DisposedITAT Chennai26 Nov 2024AY 2019-20

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…gh Court ble Gujarat High Court and the SLP filed against the judgment before the Supreme was also and the SLP filed against the judgment before the Supreme was also and the SLP filed against the judgment before the Supreme was also dismissed and reported in 265 ITR 37. The relevant findings of Hon dismissed and reported in 265 ITR 37. The relevant findings of Hon dismissed and reported in 265 ITR 37. The relevant findings of Hon’ble Apex Court is noted to be as follows: is noted to be as follows: "Dismissed the special leave petition filed by the Department against the "Dismissed the special leave petition fi…

Assistant Commissioner of Income-Tax, Madurai vs. Alba Industries Limited, Chennai

ITA 286/CHNY/2024[2018-19]Status: DisposedITAT Chennai26 Nov 2024AY 2018-19

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…gh Court ble Gujarat High Court and the SLP filed against the judgment before the Supreme was also and the SLP filed against the judgment before the Supreme was also and the SLP filed against the judgment before the Supreme was also dismissed and reported in 265 ITR 37. The relevant findings of Hon dismissed and reported in 265 ITR 37. The relevant findings of Hon dismissed and reported in 265 ITR 37. The relevant findings of Hon’ble Apex Court is noted to be as follows: is noted to be as follows: "Dismissed the special leave petition filed by the Department against the "Dismissed the special leave petition fi…

Assistant Commissioner of Income-Tax, Madurai vs. Alba Industries Limited, Chennai

ITA 285/CHNY/2024[2017-18]Status: DisposedITAT Chennai26 Nov 2024AY 2017-18

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…gh Court ble Gujarat High Court and the SLP filed against the judgment before the Supreme was also and the SLP filed against the judgment before the Supreme was also and the SLP filed against the judgment before the Supreme was also dismissed and reported in 265 ITR 37. The relevant findings of Hon dismissed and reported in 265 ITR 37. The relevant findings of Hon dismissed and reported in 265 ITR 37. The relevant findings of Hon’ble Apex Court is noted to be as follows: is noted to be as follows: "Dismissed the special leave petition filed by the Department against the "Dismissed the special leave petition fi…

Assistant Commissioner of Income-Tax, Madurai vs. Alba Industries Limited, Chennai

ITA 283/CHNY/2024[2015-16]Status: DisposedITAT Chennai26 Nov 2024AY 2015-16

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –
Section 132Section 132(4)Section 143(3)Section 153A

…gh Court ble Gujarat High Court and the SLP filed against the judgment before the Supreme was also and the SLP filed against the judgment before the Supreme was also and the SLP filed against the judgment before the Supreme was also dismissed and reported in 265 ITR 37. The relevant findings of Hon dismissed and reported in 265 ITR 37. The relevant findings of Hon dismissed and reported in 265 ITR 37. The relevant findings of Hon’ble Apex Court is noted to be as follows: is noted to be as follows: "Dismissed the special leave petition filed by the Department against the "Dismissed the special leave petition fi…

ACIT-CC-1(3), New Marine Lines, Churchgate vs. Ms. Shanti Enterprises, Vashi

In the result ground number 1 and 2 of the appeal for assessment year 2015 – 16 of the learned assessing officer are dismissed

ITA 1349/MUM/2024[2012-13]Status: DisposedITAT Mumbai08 Oct 2024AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shriraj Kumar Chauhan, Jm A.Y.2012-13 A.Y.2015-16 Acit-Central Circle-1(3), Bhagwati Developers, Mumbai 1306, 13Th Floor, Vs. Real Tech Park, Plot No.39/2, Sector-30A, Vashi Navi Mumbai Co No. 80/Mum/2024 A.Y. 2012-13 [Ita No. 1346/Mum/2024] Bhagwati Developers, Acit-Central Circle-1(3), 1306, 13Th Floor, Mumbai Real Tech Park, Plot No.39/2, Sector-30A, Vashi Navi Mumbai Pan Aalfb 5272C A.Y. 2012-13 Acit-Central Circle-1(3), Ms. Shanti Enterprises, Mumbai Office No. 1306, Real Tech Park, Plot No.39/2, Sector-30A Vashi Co No. 110/Mum/2024 A.Y. 2012-13 [Ita No. 1349/Mum/2024] Ms. Shanti Enterprises, Acit-Central Circle-1(3), Office No. 1306, Real Tech Mumbai Park, Plot No.39/2, Sector-30A Vashi (Appellant) (Respondent) Assessee By Shri Mani Jain & Shri Prateek Jain

Section 132Section 143Section 153ASection 69C

…llowing the decision of the settlement commission where it is arising out of the same search and addition is also based on the same document. The learned CIT – A has relied upon the decision of the honourable Supreme Court in case of ITO versus Anand builders 265 ITR 37 wherein it has been held that entire on money received in case of a builder cannot be taxed as income. It is not the case of the learned AO that the percentage of profit determined by the settlement commission based on same seized documents is incorrect. Further no reasons are shown to us that the profit ratio of the assessee is much higher than w…

ACIT-CC-1(3), Mumbai vs. Bhagwati Developers, Navi Mumbai

In the result ground number 1 and 2 of the appeal for assessment year 2015 – 16 of the learned assessing officer are dismissed

ITA 1346/MUM/2024[2012-13]Status: DisposedITAT Mumbai08 Oct 2024AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shriraj Kumar Chauhan, Jm A.Y.2012-13 A.Y.2015-16 Acit-Central Circle-1(3), Bhagwati Developers, Mumbai 1306, 13Th Floor, Vs. Real Tech Park, Plot No.39/2, Sector-30A, Vashi Navi Mumbai Co No. 80/Mum/2024 A.Y. 2012-13 [Ita No. 1346/Mum/2024] Bhagwati Developers, Acit-Central Circle-1(3), 1306, 13Th Floor, Mumbai Real Tech Park, Plot No.39/2, Sector-30A, Vashi Navi Mumbai Pan Aalfb 5272C A.Y. 2012-13 Acit-Central Circle-1(3), Ms. Shanti Enterprises, Mumbai Office No. 1306, Real Tech Park, Plot No.39/2, Sector-30A Vashi Co No. 110/Mum/2024 A.Y. 2012-13 [Ita No. 1349/Mum/2024] Ms. Shanti Enterprises, Acit-Central Circle-1(3), Office No. 1306, Real Tech Mumbai Park, Plot No.39/2, Sector-30A Vashi (Appellant) (Respondent) Assessee By Shri Mani Jain & Shri Prateek Jain

Section 132Section 143Section 153ASection 69C

…llowing the decision of the settlement commission where it is arising out of the same search and addition is also based on the same document. The learned CIT – A has relied upon the decision of the honourable Supreme Court in case of ITO versus Anand builders 265 ITR 37 wherein it has been held that entire on money received in case of a builder cannot be taxed as income. It is not the case of the learned AO that the percentage of profit determined by the settlement commission based on same seized documents is incorrect. Further no reasons are shown to us that the profit ratio of the assessee is much higher than w…

DCIT-CC-4(2), Mumbai vs. Rubberwala Realty, Mumbai

In the result, all the appeals of the assessee for AYs 2015-16 to

ITA 3531/MUM/2023[2018-19]Status: DisposedITAT Mumbai07 Jun 2024AY 2018-19

Bench: We Advert To The Grounds Taken In The Cross Appeals, It Would First Be Relevant To Cull Out The Basic Facts Of The Case & Effect Of Law In Brief In Respect Of Certain Ays. Search U/S 132 Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Was Conducted Against The Rubberwala Group, On 17-03-2021 Thereby Triggering Section 153A Of The Act. Prior To The Date Of Search, The Income-Tax Assessments For Ays 2015-16 To 2019-20 Were Either Completed U/S 143(1)/143(3) Of The Act And/Or The Time Limit For Issue Of Notice U/S 143(2) Of The Act Had Expired. Accordingly, The Income-Tax 3

For Respondent: Shri Sanyogita Nagpal, CIT
Section 132Section 133(6)Section 143(1)Section 143(2)Section 153ASection 68Section 69C

…oney receipts since there is always the unaccounted payments. The above decision of this Tribunal is noted to have been upheld by the Hon'ble Gujarat High Court and the SLP filed against the judgment before the Supreme Court was also dismissed and reported in 265 ITR 37. The relevant findings of Hon'ble Apex Court is noted to be as follows: "Dismissed the special leave petition filed by the Department against the judgment dated January 21, 2002 of the Gujarat High Court in ITA No. 52 of 2002 whereby the High Court dismissed the Department's appeal on the ground that no substantial question of law arose. The quest…

DCIT-CC-4(2), Mumbai vs. Rubberwala Housing and Infrastructure Limited, Mumbai

In the result, all the appeals of the assessee stands allowed and

ITA 3508/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Jun 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T Varkey, Jm आयकर अपील सं/ I.T. A. No. 3448/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3447/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3446/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3445/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3444/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2019-20) & आयकर अपील सं/ I.T. A. No. 3459/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2020-21) & आयकर अपील सं/ I.T. A. No. 3432/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2021-22) Rubberwala Housing & Infrastructure Ltd. Ground Floor, Rubberwala House, Dr. A Nair Road, Agripada, Mumbai-400011. बनाम / Vs. Dcit, Central Circle-4(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 3508/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3505/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3504/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3549/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3503/Mum/2023

For Appellant: Shri Mani Jain FCAFor Respondent: Smt Sanyogita Nagpal
Section 132Section 143(1)Section 143(2)Section 153ASection 68Section 69C

…oney receipts since there is always the unaccounted payments. The above decision of this Tribunal is noted to have been upheld by the Hon'ble Gujarat High Court and the SLP filed against the judgment before the Supreme Court was also dismissed and reported in 265 ITR 37. The relevant findings of Hon'ble Apex Court is noted to be as follows: "Dismissed the special leave petition filed by the Department against the judgment dated January 21, 2002 of the Gujarat High Court in ITA No. 52 of 2002 whereby the High Court dismissed the Department's appeal on the ground that no substantial question of law arose. The quest…

Rubberwala Housing and Infrastructure Limited, Mumbai vs. DCIT CC-4(2), Mumbai

In the result, all the appeals of the assessee stands allowed and

ITA 3448/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Jun 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T Varkey, Jm आयकर अपील सं/ I.T. A. No. 3448/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3447/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3446/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3445/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3444/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2019-20) & आयकर अपील सं/ I.T. A. No. 3459/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2020-21) & आयकर अपील सं/ I.T. A. No. 3432/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2021-22) Rubberwala Housing & Infrastructure Ltd. Ground Floor, Rubberwala House, Dr. A Nair Road, Agripada, Mumbai-400011. बनाम / Vs. Dcit, Central Circle-4(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 3508/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3505/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3504/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3549/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3503/Mum/2023 2

For Appellant: Shri Mani Jain FCAFor Respondent: Smt Sanyogita Nagpa
Section 132Section 143(1)Section 143(2)Section 153ASection 68Section 69ASection 69C

…is noted to have been upheld by the Hon'ble Gujarat High Court and the SLP filed against the judgment before the Supreme 63 ITA Nos.3448 & Others/Mum/2023 Α.Υ. 2015-16 to 2021-22 Rubberwala Housing & Infrastructure Ltd Court was also dismissed and reported in 265 ITR 37. The relevant findings of Hon'ble Apex Court is noted to be as follows: "Dismissed the special leave petition filed by the Department against the judgment dated January 21, 2002 of the Gujarat High Court in ITA No. 52 of 2002 whereby the High Court dismissed the Department's appeal on the ground that no substantial question of law arose. The quest…

ACIT, Kota vs. Kaizen Enterprises Pvt. Ltd, Kota

In the result, the appeal of the Revenue and the cross-objection of the assessee is allowed for statistical purposes

ITA 1042/JPR/2016[2013-14]Status: DisposedITAT Jaipur18 Jan 2019AY 2013-14
For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Shri Varinder Mehta (CIT)
Section 132Section 132(4)Section 143(3)Section 153A

…eturn of income. In the following cases, it is held that on-money/ sales itself cannot be added to income but only a reasonable g.p. rate on such on-money/ sales can be assessed as income:- • Jay Builders Vs. ACIT 215 Taxman 50 (Guj.) • ITO Vs. Anand Builders 265 ITR 37 (St.) (SC) • Abhishek Corporation Vs. DCIT 63 TTJ 651 (Ahd.) • CIT Vs. President Industries 258 ITR 654 (Guj.) • Mohan SadhaniVs. CIT 304 ITR 52 (MP) • CIT Vs. Balchand Ajit Kumar 263 ITR 610 (MP) • Agrawal Motors Vs ACIT 68 ITD 407 (Jab) • ITO V. Gurubachan Singh J. Juneja 216 ITR 99 (Ahd) The principles laid down in these cases are equally appl…