How many judgments cite Keshav Mills Ltd. v. CIT?

86 judgments on BharatTax cite Keshav Mills Ltd. v. CIT (23 ITR 230), spanning 2008 to 2025.

Which sections of the Income Tax Act does Keshav Mills Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 147, Section 148, Section 142(1), Section 143(3), Section 5, Section 144.

Keshav Mills Ltd. v. CIT

23 ITR 230Supreme Court of India1953#1321 most cited

What is Keshav Mills Ltd. v. CIT authority for?

Income taxability depends on the real nature of the receipt and actual or constructive receipt of income, not merely on book entries. An amount is only "deemed to be received" if explicitly provided by the Income Tax Act, not by an assessee's unilateral intention.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2008 to 2025.

Also referred to as

Keshav Mills Ltd. v. CIT · 23 ITR 230 · Section 4 · Section 5 · Section 147 · accrual of income · receipt of income · deemed receipt · book entries not conclusive · real nature of income · capital receipt · mercantile system of accounting

Sections most often in play

Section 147 Section 148 Section 142(1)Section 143(3)Section 5 Section 144 Section 271(1)(c)Section 4

Read the full judgment

Issues it is cited on

section 10(2)(xv)section 5(2)(b)section 10(2)section 10(1)section 4(1)section 5(2)mercantile system of accounting rule of consistency principal officer right to receive section 260a section 260

Judgments citing Keshav Mills Ltd. v. CIT

Director of Income Tax (Exemption) vs. Council of Scientific & Industrial Research

ITA/331/2013HC Delhi27 Nov 2013

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE SANJEEV SACHDEVA

Section 11(1)Section 29Section 32

…e basis. Under the cash basis only cash transactions are recorded. It is only cash receipts and cash (U payments which find entries in the books of account. Mercantile system of accounting was explained by the Supreme Court in Keshav Mills Ltd. v. CIT [1953]23 ITR 230 at 230 in the following words : " The mercantile system of accounting or what is otherwise known as the double entry system is opposed to the cash system ofbook keeping under which a record is kept of actual cash receipts and actual cash payments, entries being made only when money is actually collected or disbursed. That system brings into credit…

Director of Income Tax (Exemption) vs. Indian Trade Promotion Organisation

ITA/7/2013HC Delhi27 Nov 2013

Section 11(1)Section 11(1)(a)

…Under the cash basis only cash transactions are recorded. It is only cash receipts and cash payments . which find entries in the books of account. Mercantile system of accounting was explained by the Supreme Court in Keshav Mills Ltd. v. CIT [1953]23 ITR 230 at 230 in the following words : . . . ‘‘ The mercantile system of accounting or what is otherwise known as the double entry system is opposed to the cash system of book keeping under which a record is kept of actual cash receipts and actual cash payments, entries being made only when money is actually collected or disbursed.…

The Commissioner of Income Tax - IV vs. M/s. Mekins Agro Product (P) Ltd

ITTA/449/2013HC Telangana25 Sept 2013

The Commissioner of Income-Tax vs. Sri M.D. Yashodharan

In the result, the appeal fails

RP/196/2013HC Karnataka24 Sept 2013

Bench: B.MANOHAR,DILIP B.BHOSALE

Section 143(3)Section 260Section 260ASection 263

…, the same accrued to it. In support of aforesaid submissions, reliance has been placed on decisions 'MORVI INDUSTRIES LTD. VS. COMMISSIONER OF INCOME-TAX', (1971) 82 ITR 835 (SC), 'KESHAV 9 MILLS LTD. VS. COMMISSIONER OF INCOME-TAX', (1953) 23 ITR 230 (SC) and 'COMMISSIONER OF INCOME-TAX VS.A.GAJAPATHY NAIDU', (1964) 53 ITR 114 (SC). 5. On the other hand, learned counsel for the assessee has submitted that the mercantile system and accrual system of accounting are synonymous. In this connection, reference has been made to guidance note on accrual system of accounting and our attention h…

Commissioner of Income Tax (TDS) vs. M/s. Yashoda Super Speciality Hospital

ITTA/196/2013HC Telangana04 Jul 2013

Commnr. of Income Tax, Chennai vs. M/S. Bilahari Investment P. Ltd

Appeals are dismissed

C.A. No.-001625-001625 - 2008Supreme Court27 Feb 2008

For Respondent: M/s Bilahari Investment (P) Ltd

…e profits earned and credited in the books of account constitute the basis of computation of income. The system postulates the existence of tax insofar as monies due and payable by the parties to whom they are debited (see Keshav Mills Ltd. v. CIT [1953] 23 ITR 230, 239 (SC) ). Therefore, under the Mercantile System of Accounting, in order to determine the net income of an accounting year, the revenue and other incomes are matched with the cost of resources consumed [expenses]. Under the mercantile system of accounting, this matching is required to be done on accrual basis. Under this matching concept,…