Kansara Bearings Pvt. Ltd. v. ACIT

270 ITR 235High Court#5019 most cited

What is Kansara Bearings Pvt. Ltd. v. ACIT authority for?

The assessee's past years' declared profits are the best guide for applying Gross Profit (GP) or Net Profit (NP) rates. Deviating from this history requires justification and consideration of comparable cases only when necessary.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Kansara Bearings Pvt. Ltd. v. ACIT · 270 ITR 235 · section 145(3) · section 144 · best judgment assessment · gross profit rate · net profit rate · past years' profits · assessee's history · comparable cases

Sections most often in play

Section 145(3)Section 144Section 153ASection 153DSection 68Section 143(3)Section 250Section 269SS

Issues it is cited on

section 155bbesection 2(9)section 66section 2(1)onus of proofsection 155section 145(2)survey under section 133asection 269sssection 271daddition under section 68section 145(3)

Judgments citing Kansara Bearings Pvt. Ltd. v. ACIT

Mr. Inder Pal Singh Wadhawan, New Delhi vs. ACIT, New Delhi

In the result ground No. 2 of the appeal of the assessee is allowed

ITA 1589/DEL/2013[2008-09]Status: DisposedITAT Delhi08 Jul 2016AY 2008-09

Bench: I.C.Sudhir & Shri Prashant Maharishiinder Pal Singh Wadhawan, Jcit, E/1/7, Ii Nd Floor, East Patel Vs. Circle-33, Nagar, New Delhi New Delhi Pan: Aarps6904L (Appellant) (Respondent) Acit, Inder Pal Singh Wadhawan, Circle-33(1), Room No.1505, E/1/7, Ii Nd Floor, Vs. 15Th Floor, Dr. Shyama Prasad East Patel Nagar, New Delhi Mukherjee Civil Centre, New Delhi Pan: Aarps6904L (Appellant) (Respondent) Inder Pal Singh Wadhawan, Acit, E/1/7, Ii Nd Floor, East Patel Circle-33, Vs. Nagar, New Delhi New Delhi Pan: Aarps6904L (Appellant) (Respondent) Acit, Inder Pal Singh Wadhawan, Circle-33(1), Room No.1505, 15Th E/1/7, Ii Nd Floor, Vs. Floor, Dr. Shyama Prasad East Patel Nagar, New Delhi Mukherjee Civil Centre, Pan: Aarps6904L New Delhi (Appellant) (Respondent)

For Appellant: Sh. Ajay Wadhwa, AdvFor Respondent: Sh. Vijay Verma, CIT DR
Section 142Section 143(3)Section 68

…pellant in his own case is comparable with the GP rate declared in other cases of the State engaged in similar trade or nature of business. Reliance is placed in the judgment of the Hon'ble Rajasthan High Court in the case of CIT vs. Kansara Bearing Pvt. Ltd. 270 ITR 235 where it was held that the last year's profit declared by the assessee is the best guide for application of profit rate. The appellant G.P. rate during the year under consideration was far better than the last year. The Assessing Officer has not brought on record any comparable case for showing higher G.P. rate than that which was declared by the…

Mr. Inder Pal Singh Wadhawan, New Delhi vs. JCIT, New Delhi

In the result ground No. 2 of the appeal of the assessee is allowed

ITA 1155/DEL/2013[2007-08]Status: DisposedITAT Delhi08 Jul 2016AY 2007-08

Bench: I.C.Sudhir & Shri Prashant Maharishiinder Pal Singh Wadhawan, Jcit, E/1/7, Ii Nd Floor, East Patel Vs. Circle-33, Nagar, New Delhi New Delhi Pan: Aarps6904L (Appellant) (Respondent) Acit, Inder Pal Singh Wadhawan, Circle-33(1), Room No.1505, E/1/7, Ii Nd Floor, Vs. 15Th Floor, Dr. Shyama Prasad East Patel Nagar, New Delhi Mukherjee Civil Centre, New Delhi Pan: Aarps6904L (Appellant) (Respondent) Inder Pal Singh Wadhawan, Acit, E/1/7, Ii Nd Floor, East Patel Circle-33, Vs. Nagar, New Delhi New Delhi Pan: Aarps6904L (Appellant) (Respondent) Acit, Inder Pal Singh Wadhawan, Circle-33(1), Room No.1505, 15Th E/1/7, Ii Nd Floor, Vs. Floor, Dr. Shyama Prasad East Patel Nagar, New Delhi Mukherjee Civil Centre, Pan: Aarps6904L New Delhi (Appellant) (Respondent)

For Appellant: Sh. Ajay Wadhwa, AdvFor Respondent: Sh. Vijay Verma, CIT DR
Section 142Section 143(3)Section 68

…pellant in his own case is comparable with the GP rate declared in other cases of the State engaged in similar trade or nature of business. Reliance is placed in the judgment of the Hon'ble Rajasthan High Court in the case of CIT vs. Kansara Bearing Pvt. Ltd. 270 ITR 235 where it was held that the last year's profit declared by the assessee is the best guide for application of profit rate. The appellant G.P. rate during the year under consideration was far better than the last year. The Assessing Officer has not brought on record any comparable case for showing higher G.P. rate than that which was declared by the…

M/S Vardaan Fashion, New Delhi vs. JCIT, New Delhi

In the result ground No. 3 of the appeal of the assessee is dismissed

ITA 1143/DEL/2013[2007-08]Status: DisposedITAT Delhi08 Jul 2016AY 2007-08

Bench: I.C.Sudhir & Shri Prashant Maharishivardan Fashions, Jcit, E-1/7, 2Nd Floor, East Patel Range-33, Vs. Nagar, New Delhi New Delhi Pan:Aacfv0423H (Appellant) (Respondent) Acit, Vardan Fashions, Circle-33(1) E-1/7, 2Nd Floor, East Patel Vs. New Delhi Nagar, New Delhi Pan:Aacfv0423H (Appellant) (Respondent)

For Appellant: Sh. Ajay Wadhwa, AdvFor Respondent: Sh. Vijay Verma, CIT DR
Section 142Section 40

…pellant in his own case is comparable with the GP rate declared in other cases of the State engaged in similar trade or nature of business. Reliance is placed in the judgment of the Hon'ble Rajasthan High Court in the case of CIT vs. Kansara Bearing Pvt. Ltd. 270 ITR 235 where it was held that the last year's profit declared by the assessee is the best guide for application of profit rate. The appellant G.P. rate during the year under consideration was far better than the last year. The Assessing Officer has not brought on record any comparable case for showing higher G.P. rate than that which was declared by the…