Kedarnath Jute Mfg. Co. Ltd. v. CIT

82 ITR 363Supreme Court of India1971#89 most cited

What is Kedarnath Jute Mfg. Co. Ltd. v. CIT authority for?

Tax liability for an item of income or expenditure is determined solely by the provisions of the Income-tax Act. Entries in an assessee's books of account are not conclusive and do not govern the taxability or deductibility of an item, as the legal rights and obligations under the Act prevail.

654

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 1998 to 2026.

Also referred to as

Kedarnath Jute Mfg. Co. Ltd. v. CIT · 82 ITR 363 SC · tax liability · accounting entries · books of account · Income-tax Act provisions · tax law vs accounting · section 145 · mercantile system · book profits · section 115JB · section 37(1) · section 43B

Sections most often in play

Section 143(3)Section 1961Section 37(1)Section 43BSection 14ASection 115JBSection 143(1)Section 145
Read the full judgment

Issues it is cited on

section 80hhcsection 80hhbook profitsrevenue expendituresection 80iamercantile system of accountingcapital expendituresection 115jsection 80idisallowance under section 14asection 37(1)section 115jb

Judgments citing Kedarnath Jute Mfg. Co. Ltd. v. CIT

M/S. Barbeque Nation Hospitality Ltd, Bengaluru vs. Deputy Commissioner of Income Tax, Central Circle-2(2), Bengaluru

ITA 25/BANG/2024[2017-18]Status: DisposedITAT Bangalore31 Oct 2025AY 2017-18

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Respondent: Shri. A. Shankar, Sr. Advocate
Section 132Section 153ASection 234ASection 250

…a settled position of law that nomenclature in books of accounts are not decisive or conclusive. v. The appellant places reliance on the parity of reasoning of the decision of the Hon'ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd. v. CIT (1971) 82 ITR 363 (SC). The appellant also places reliance on the decision of the Hon'ble Bombay High Court in the case of CIT v. Bangalore Clothing co. (2003) 260 ITR 371 (Bom.) wherein it was held as under - 8. However, we find that the Department just looks at the nomenclature of the receipt and if it finds that the nomenclature is rent, interest, commission th…

M/S. Barbeque Nation Hospitality Ltd, Bengaluru vs. Deputy Commissioner of Income Tax, Central Circle-2(2), Bengaluru

In the result, appeals filed by the assessee are partly allowed

ITA 24/BANG/2024[2016-17]Status: DisposedITAT Bangalore31 Oct 2025AY 2016-17

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. A. Shankar, Sr. AdvocateFor Respondent: Shri. K. M. Mahesh, CIT(DR)(ITAT), Bangalore
Section 153ASection 234ASection 250

…30 of 47 position of law that nomenclature in books of accounts are not decisive or conclusive. v. The appellant places reliance on the parity of reasoning of the decision of the Hon’ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd. v. CIT (1971) 82 ITR 363 (SC). The appellant also places reliance on the decision of the Hon’ble Bombay High Court in the case of CIT v. Bangalore Clothing co. (2003) 260 ITR 371 (Bom.) wherein it was held as under – 8. However, we find that the Department just looks at the nomenclature of the receipt and if it finds that the nomenclature is rent, interest, commission the…

M/S. Barbeque Nation Hospitality Ltd, Bengaluru vs. Deputy Commissioner of Income-Tax Officer, Central Circle-2(2), Bengaluru

ITA 23/BANG/2024[2015-16]Status: DisposedITAT Bangalore31 Oct 2025AY 2015-16

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

Section 153ASection 234ASection 250

…ang/2024 position of law that nomenclature in books of accounts are not decisive or conclusive. V. The appellant places reliance on the parity of reasoning of the decision of the Hon'ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd. v. CIT (1971) 82 ITR 363 (SC). The appellant also places reliance on the decision of the Hon'ble Bombay High Court in the case of CIT v. Bangalore Clothing co. (2003) 260 ITR 371 (Bom.) wherein it was held as under - 8. However, we find that the Department just looks at the nomenclature of the receipt and if it finds that the nomenclature is rent, interest, commission th…

M/S. Barbeque Nation Hospitality Ltd, Bengaluru vs. Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, appeals filed by the assessee are partly allowed

ITA 22/BANG/2024[2014-15]Status: DisposedITAT Bangalore31 Oct 2025AY 2014-15

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. A. Shankar, Sr. AdvocateFor Respondent: Shri. K. M. Mahesh, CIT(DR)(ITAT), Bangalore
Section 153ASection 234ASection 250

…30 of 47 position of law that nomenclature in books of accounts are not decisive or conclusive. v. The appellant places reliance on the parity of reasoning of the decision of the Hon’ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd. v. CIT (1971) 82 ITR 363 (SC). The appellant also places reliance on the decision of the Hon’ble Bombay High Court in the case of CIT v. Bangalore Clothing co. (2003) 260 ITR 371 (Bom.) wherein it was held as under – 8. However, we find that the Department just looks at the nomenclature of the receipt and if it finds that the nomenclature is rent, interest, commission the…

M/S. Barbeque Nation Hospitality Ltd, Bengaluru vs. Deputy Commissioner of Income-Tax, Circle-2(2), Bengaluru

In the result, appeals filed by the assessee are partly allowed

ITA 21/BANG/2024[2013-14]Status: DisposedITAT Bangalore31 Oct 2025AY 2013-14

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. A. Shankar, Sr. AdvocateFor Respondent: Shri. K. M. Mahesh, CIT(DR)(ITAT), Bangalore
Section 153ASection 234ASection 250

…30 of 47 position of law that nomenclature in books of accounts are not decisive or conclusive. v. The appellant places reliance on the parity of reasoning of the decision of the Hon’ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd. v. CIT (1971) 82 ITR 363 (SC). The appellant also places reliance on the decision of the Hon’ble Bombay High Court in the case of CIT v. Bangalore Clothing co. (2003) 260 ITR 371 (Bom.) wherein it was held as under – 8. However, we find that the Department just looks at the nomenclature of the receipt and if it finds that the nomenclature is rent, interest, commission the…

Vodafone Idea Ltd. (Earlier Knwon As Vodafone Mobile Services Ltd.), Mumbai vs. ACIT, . Circle-26(2), New Delhi

In the result, all above said grounds are allowed for statistical purpose

ITA 8361/DEL/2019[2012-13]Status: DisposedITAT Delhi24 Oct 2025AY 2012-13

Bench: Shri S. Rifaur Rahman & Shriyogesh Kumar U.S.Vodafone Idea Ltd Vs. Acit, (Earlier Known As Vodafone Circle-26(2), Mobile Services Ltd) New Delhi 10Th Floor, Birla Centurion, Century Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharastra (Appellant) (Respondent) Pan: Aaacb2100P

For Appellant: Shri Salil Kapoor, AdvFor Respondent: Shri S. K,. Jadav, CIT DR
Section 115JSection 143(3)Section 144C(5)Section 92C

…is governed by provisions of the Act and is not dependent on the treatment followed for the same in the books of accounts. For above proposition, I reference is made to Sutlej Cotton Mills Ltd. vs. CIT: 116 ITR 1 (SC) and Kedarnath Jute Mfg. Co. Ltd. vs. CIT: 82 ITR 363 (SC). AS-9 on accounting for leases classifies lease transactions for accounting purposes as under: (i) Finance Lease (ii) Operating Lease 5.2 Finance Lease, in AS-19, is described as a lease that transfers substantially all the risks and rewards in respect of ownership of an asset, title may or may not be transferred under such lease. An operatin…

JCIT(OSD) Central Circle 1, Jhandewalan vs. Sahara India Real Estate Corporation Ltd., Lucknow

ITA 1085/DEL/2024[2017-18]Status: DisposedITAT Delhi07 Oct 2025AY 2017-18

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

For Appellant: Sh. Ajay Vohra, Sr. Adv. &For Respondent: Sh. Mahesh Kumar, CIT-DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Satbeer Singh Godara, Judicial Member & Sh. S. Rifaur Rahman, Accountant Member ITA No. 1085 & CO No. 36/Del/2024 : Asstt. Year: 2017-18 JCIT(OSD), Vs Sahara India Real Estate Central Circle-1, Corporation Ltd., 1, Sahara India New Delhi-110055 Bhawan, Kapoorthala, Complex Aliganj, Lucknow-226024 (APPELLANT) (RESPONDENT) PAN No. AAJCS7265F Assessee by : Sh. Ajay Vohra, Sr. Adv. & Sh. Aditya Vohra, Adv. Revenue by : Sh. Mahesh Kumar, CIT-DR Date of Hearing: 10.07.2025 Date of Pronouncement: 07.10.2025 ORDER Per Satbeer Singh Godara, Judici…

Deputy Commissioner of Income-Tax vs. The Jawaharlal Nehru Port Trust, Raigad

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 545/PUN/2016[2005-06]Status: DisposedITAT Pune30 Sept 2025AY 2005-06

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…t, merely because a different treatment was given in books of account could not be a factor which would deprive assessee from claiming entire expenditure as a deduction - Held Yes [para 19][ in favour of assessee ]. Kedarnath Jute Mfg. Co, Ltd. v. CIT (1971) (82 ITR 363 (SC) S. 37(1) of the Income Tax Act, 1961: Business expenditure – Allowablity of - assessment year 1955-56 – assessee company claimed deduction on account of sales tax determined by sales tax authorities to be payable on sales made by assessee during relevant assessment year – ITO disallowed claim on the ground that assessee had denied its liabili…

Deputy Commissioner of Income-Tax vs. The Jawaharlal Nehru Port Trust, Raigad

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 544/PUN/2016[2004-05]Status: DisposedITAT Pune30 Sept 2025AY 2004-05

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…t, merely because a different treatment was given in books of account could not be a factor which would deprive assessee from claiming entire expenditure as a deduction - Held Yes [para 19][ in favour of assessee ]. Kedarnath Jute Mfg. Co, Ltd. v. CIT (1971) (82 ITR 363 (SC) S. 37(1) of the Income Tax Act, 1961: Business expenditure – Allowablity of - assessment year 1955-56 – assessee company claimed deduction on account of sales tax determined by sales tax authorities to be payable on sales made by assessee during relevant assessment year – ITO disallowed claim on the ground that assessee had denied its liabili…

Deputy Commissioner of Income-Tax vs. The Jawaharlal Nehru Port Trust, Raigad

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 543/PUN/2016[2003-04]Status: DisposedITAT Pune30 Sept 2025AY 2003-04

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…t, merely because a different treatment was given in books of account could not be a factor which would deprive assessee from claiming entire expenditure as a deduction - Held Yes [para 19][ in favour of assessee ]. Kedarnath Jute Mfg. Co, Ltd. v. CIT (1971) (82 ITR 363 (SC) S. 37(1) of the Income Tax Act, 1961: Business expenditure – Allowablity of - assessment year 1955-56 – assessee company claimed deduction on account of sales tax determined by sales tax authorities to be payable on sales made by assessee during relevant assessment year – ITO disallowed claim on the ground that assessee had denied its liabili…

Jawahar Lal Nehru Port Trust, Navi Mumbai vs. ACIT Panvel, Panvel

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1155/MUM/2016[2004-05]Status: DisposedITAT Pune30 Sept 2025AY 2004-05

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…t, merely because a different treatment was given in books of account could not be a factor which would deprive assessee from claiming entire expenditure as a deduction - Held Yes [para 19][ in favour of assessee ]. Kedarnath Jute Mfg. Co, Ltd. v. CIT (1971) (82 ITR 363 (SC) S. 37(1) of the Income Tax Act, 1961: Business expenditure – Allowablity of - assessment year 1955-56 – assessee company claimed deduction on account of sales tax determined by sales tax authorities to be payable on sales made by assessee during relevant assessment year – ITO disallowed claim on the ground that assessee had denied its liabili…

Jawahar Lal Nehru Port Trust, Navi Mumbai vs. ACIT Panvel, Panvel

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1154/MUM/2016[2005-06]Status: DisposedITAT Pune30 Sept 2025AY 2005-06

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…t, merely because a different treatment was given in books of account could not be a factor which would deprive assessee from claiming entire expenditure as a deduction - Held Yes [para 19][ in favour of assessee ]. Kedarnath Jute Mfg. Co, Ltd. v. CIT (1971) (82 ITR 363 (SC) S. 37(1) of the Income Tax Act, 1961: Business expenditure – Allowablity of - assessment year 1955-56 – assessee company claimed deduction on account of sales tax determined by sales tax authorities to be payable on sales made by assessee during relevant assessment year – ITO disallowed claim on the ground that assessee had denied its liabili…

Jawahar Lal Nehru Port Trust, Navi Mumbai vs. ACIT Panvel, Panvel

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1153/MUM/2016[2003-04]Status: DisposedITAT Pune30 Sept 2025AY 2003-04

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…t, merely because a different treatment was given in books of account could not be a factor which would deprive assessee from claiming entire expenditure as a deduction - Held Yes [para 19][ in favour of assessee ]. Kedarnath Jute Mfg. Co, Ltd. v. CIT (1971) (82 ITR 363 (SC) S. 37(1) of the Income Tax Act, 1961: Business expenditure – Allowablity of - assessment year 1955-56 – assessee company claimed deduction on account of sales tax determined by sales tax authorities to be payable on sales made by assessee during relevant assessment year – ITO disallowed claim on the ground that assessee had denied its liabili…

Income Tax Officer-1, Korba vs. M/S Budhia Auto, Main Road

Accordingly, ground no. 1 of the appeal of revenue stands dismissed and the disallowance made by Ld

ITA 158/RPR/2025[2012-13]Status: DisposedITAT Raipur16 Sept 2025AY 2012-13

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 158/Rpr/2025 (िनधा"रण वष" Assessment Year: 2012-13)

For Appellant: NoneFor Respondent: Shri Ram Tiwari, Sr. DR
Section 142(1)Section 143(3)Section 144Section 147Section 148Section 250Section 43B

…आयकर अपीलीय अिधकरण, रायपुर "ायपीठ, रायपुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR "ी पाथ" सारथी चौधर", "ाियक सद" एवं "ी अ"ण खोड़िपया, लेखा सद" के सम" । BEFORE SHRI PARTHA SARATHI CHAUDHURY, JM & SHRI ARUN KHODPIA, AM आयकर अपील सं. / ITA No: 158/RPR/2025 (िनधा"रण वष" Assessment Year: 2012-13) Income Tax Officer-1, v M/s Budhia Auto, s Office of the Income Tax Officer-1, T. P. Nagar, Korba - 495677, C.G. Korba-495677, C.G. PAN: AAFFB1799L (अपीलाथ"/Appellant) . (""थ" / Respondent) . िनधा"रती की ओर से / Assessee by : None राज" की ओर से / Revenue by : Shri Ram Tiwari, Sr. DR सुनवाई की तारीख / Date…

DCIT, C-V, Ludhiana vs. M/S Hero Cycles Ltd., Ludhiana

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

ITA 588/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh08 Sept 2025AY 2012-13

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

For Appellant: Shri Ashwani Kumar, Shri Ashish Aggarwal &For Respondent: Shri Manav Bansal, CIT, DR
Section 10(38)Section 143(1)Section 14ASection 36(1)(iii)

…ntage of the ignorance of the assessees. Therefore any claim of the assessee should be decided on the touchstone of law and not on the basis of claim made by the assessee. The Hon'ble Supreme Court in the case of Kedarnath Jute Manufacturing Co. Ltd. vs. CIT, 82 ITR 363 (SC) has observed that whether the assessee is entitled to a particular deduction or not will depend on the provisions of law relating thereto and not the view which the assessee may take. Similarly in the case of CIT vs. India Discount Co. Ltd., 75 ITR 191 (SC), it was observed by the Hon'ble Supreme Court that it is well established that a recei…

Goldman Sachs (India) Finance Private Limited, Mumbai vs. Assessment Unit, Income-Tax Department, New Delhi

In the result, the appeal by the assessee is partly allowed for statistical

ITA 6766/MUM/2024[AY 2021-22]Status: DisposedITAT Mumbai22 Aug 2025

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhail

For Appellant: Shri Madhur AgrawalFor Respondent: Ms. Neena Jeph, CIT-DR
Section 142(1)Section 143(1)Section 143(1)(a)Section 143(2)Section 143(3)Section 144C(1)Section 144C(5)Section 253Section 32Section 37(1)

…have any bearing on the legal rights and obligations of the assessee, and the legal form only should be taken into consideration for taxation purposes. We find that the Hon'ble Supreme Court in Kedarnath Jute Manufacturing Co. Ltd. vs. CIT, reported in (1971) 82 ITR 363 (SC), held that taxability of an item of income will be determined on the basis of the provision of law relating thereto and not on the existence or absence of the entries in the books of account maintained by the assessee. The relevant findings of the Hon'ble Supreme Court, in this regard, are reproduced as follows: "We are wholly unable to appre…

Sylvan Greens Private Limited, Jaipur vs. Deputy Commissioner of Income Tax Circle 6, Jaipur

In the result, the appeal of the assessee is allowed

ITA 414/JPR/2025[2015-16]Status: DisposedITAT Jaipur25 Jul 2025AY 2015-16

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Smt. Neelam Bhala, AdvocateFor Respondent: Shri Gorav Avasthi, JCIT-DR
Section 142(1)Section 143(3)Section 147Section 148Section 250Section 801C

…ed law that substantive justice must prevail over technicalities, and an opportunity may kindly be granted to the appellant to place its case on record. Hon'ble Supreme Court said in the case of Kedarnath Jute Mfg. Co. Ltd. V Commissioner of Income-tax [1971] 82 ITR 363 (SC) held: We are wholly unable to appreciate the suggestion that if an assessee under some misapprehension or mistake fails to make an entry in the books of account and although, under the law, a deduction must be allowed by the Income-tax Officer, the assessee will lose the right of claiming or will be debarred from being allowed that deduction.…

Gangunaidu Sabbavarapu, Visakhapatnam vs. Income Tax Officer, Ward-2(5), Visakhpatnam

ITA 177/VIZ/2025[2023-24]Status: DisposedITAT Visakhapatnam27 Jun 2025AY 2023-24
Section 10(37)Section 139(1)Section 143(1)Section 2(37)Section 250Section 254Section 96

…the said Act. It is also significant to note that the assessee's entitlement to claim deduction had been held to be valid in view of an earlier judgment of the Supreme Court in Kedarnath Jute Manufacturing Company Limited v. Commissioner of Income-tax, (1971) 82 ITR 363. This was, therefore, a case of error in perception/judgment. Despite the same, the Supreme Court upheld the decision of the Appellate Assistant Commissioner in allowing the deduction. The words "could not have been raised" must, therefore, be construed liberally and not strictly. 15. It is indeed a question of exercise of discretion whether or no…

Shree Cement Limited, Bangur Nagar vs. ACIT, Central Circle, Ajmer

In the result, the appeal of the assessee - appellant in ITA No

ITA 1517/JPR/2024[2019-2020]Status: DisposedITAT Jaipur24 Jun 2025AY 2019-2020

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Shri Dilip B. Desai, FCAFor Respondent: Shri Arvind Kumar, CIT-DR
Section 115JSection 143(1)Section 254Section 36(1)(va)Section 80Section 801A

…approval &/or receipt &/or resolution of dispute, which is pending since more than a decade, there is no question of treating such book entry as taxable income. Reliance is placed on the decision of SC in Kedarnath Jute Manufacturing Co. Ltd. -Vs- CIT (1971) 82 ITR 363(SC), where it has been categorically held that accounting entries are not sine qua non in determining taxability of income. Further reliance is placed on the decision of Hon’ble Gujarat High Court in CIT – vs.- Bavla Gopalak Vividh Karyakarisahakari Mandli Ltd. (2002) 253 ITR 97 (Guj) wherein it has been held that where final decision on dispute r…

Assistant Commissioner of Income-Tax, Central Circle-1(2), Ahmedabad vs. Sankalp Organisers Pvt Ltd, Ahmedabad

In the result, the appeals in IT(SS)A No

ITA 482/AHD/2023[2019-20]Status: DisposedITAT Ahmedabad06 Jun 2025AY 2019-20

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 132Section 143(3)Section 68Section 69C

…, i.e. one accounted and one unaccounted. It is a long- settled issue that entries in books of accounts are not conclusive for taxation purposes. Reliance is duly placed in the decision of Apex court Kedarnath Jute Mfq. Co. Ltd, v. Commissioner of Income-tax (82 ITR 363): "Whether the assessee is entitled to a particular deduction or not will depend on the provision of law relating thereto and not on the view which the mistaken of its right nor can the existence or absence of entries in the books of account be decisive or conclusive in the matter. The assessee who was maintaining Accounts on the mercantile system…