Khan Bahadm Ahmed Alladin& Sons v. CIT (1968) 68 ITR 573 (SC), P. Mohd. Meera Khan v. CIT

81 ITR 179High Court1971#18315 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 348,254 Indian tax judgments — from 2016 to 2025.

Sections most often in play

Section 115BBESection 142(1)Section 143(1)Section 143(2)Section 143(3)Section 2(13)Section 2(14)Section 24(a)

Judgments citing Khan Bahadm Ahmed Alladin& Sons v. CIT (1968) 68 ITR 573 (SC), P. Mohd. Meera Khan v. CIT

Asst Commissioner of Income Tax, Bikaner vs. Mukesh Shah, Sriganganagar

In the result, the appeal of the revenue is dismissed

ITA 399/JODH/2023[2017-18]Status: DisposedITAT Jodhpur08 Jan 2025AY 2017-18

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

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 24

…as chance of gain and these activities may be quite similar to the ordinary business. Hon’ble Courts in the cases Khan Bahadm Ahmed Alladin& Sons v. CIT (1968) 68 ITR 573 (SC), P. Mohd. Meera Khan v. CIT (1969) 73 ITR 735 (SC). Premji Bhimji. v. CIT (1971) 81 ITR 179 (Cal), CIT v. H. Holck Larsen (1986) 160 1TR 67 (SC) and CIT v. VA.Trivedi (1988) 172 ITR 95 (Bom) have held that it was not possible to evolve any single test or formula which can be applied in determining whether a transaction is adventure in the nature of trade or not. The answer to question must necessarily depend in each case as the total…

A.C.I.T. Circle 21(1), Mumbai vs. Mohan Kapoorchand Jain, Mumbai

In the result, appeals of the assessees are allowed in part where as appeal of revenue in assessment 2009-2010 is dismissed

ITA 4571/MUM/2012[2009-10]Status: DisposedITAT Mumbai30 Sept 2016AY 2009-10
For Appellant: Shri S.L.Tiwari and Ms. Rutuza N. PawarFor Respondent: Neil Philip

…neously. In the case of Raja Bahadur Wisheshwara Singh 41 ITR 685 (SC), it has been held that the magnitude, frequency, ratio of purchase & sales and holding will indicate the whether assessee was dealing in shares as business. Similar views have been held in 81 ITR 179(Cal), 74 ITR 692(Bom), 42 ITR 743(SC), 41 ITR' 685,692(SC). Hence the overall effect of far-t or s like volume and number of transactions, period of holding, high percentage of number of transactions as well as profits in shares held for shorter period, number of transactions where no delivery of shares was taken, repetitive dealing in same scrip,…

Mohan Kapoorchand Jain, Mumbai vs. Asst CIT 21(1), Mumbai

In the result, appeals of the assessees are allowed in part where as appeal of revenue in assessment 2009-2010 is dismissed

ITA 3543/MUM/2012[2009-10]Status: DisposedITAT Mumbai30 Sept 2016AY 2009-10
For Appellant: Shri S.L.Tiwari and Ms. Rutuza N. PawarFor Respondent: Neil Philip

…neously. In the case of Raja Bahadur Wisheshwara Singh 41 ITR 685 (SC), it has been held that the magnitude, frequency, ratio of purchase & sales and holding will indicate the whether assessee was dealing in shares as business. Similar views have been held in 81 ITR 179(Cal), 74 ITR 692(Bom), 42 ITR 743(SC), 41 ITR' 685,692(SC). Hence the overall effect of far-t or s like volume and number of transactions, period of holding, high percentage of number of transactions as well as profits in shares held for shorter period, number of transactions where no delivery of shares was taken, repetitive dealing in same scrip,…

Mohan Kapoorchand Jain, Mumbai vs. JCIT 20(2), Mumbai

In the result, appeals of the assessees are allowed in part where as appeal of revenue in assessment 2009-2010 is dismissed

ITA 3542/MUM/2012[2008-09]Status: DisposedITAT Mumbai30 Sept 2016AY 2008-09
For Appellant: Shri S.L.Tiwari and Ms. Rutuza N. PawarFor Respondent: Neil Philip

…neously. In the case of Raja Bahadur Wisheshwara Singh 41 ITR 685 (SC), it has been held that the magnitude, frequency, ratio of purchase & sales and holding will indicate the whether assessee was dealing in shares as business. Similar views have been held in 81 ITR 179(Cal), 74 ITR 692(Bom), 42 ITR 743(SC), 41 ITR' 685,692(SC). Hence the overall effect of far-t or s like volume and number of transactions, period of holding, high percentage of number of transactions as well as profits in shares held for shorter period, number of transactions where no delivery of shares was taken, repetitive dealing in same scrip,…

Mohan Kapoorchand Jain, Mumbai vs. Addl CIT 20(2), Mumbai

In the result, appeals of the assessees are allowed in part where as appeal of revenue in assessment 2009-2010 is dismissed

ITA 3541/MUM/2012[2007-08]Status: DisposedITAT Mumbai30 Sept 2016AY 2007-08
For Appellant: Shri S.L.Tiwari and Ms. Rutuza N. PawarFor Respondent: Neil Philip

…neously. In the case of Raja Bahadur Wisheshwara Singh 41 ITR 685 (SC), it has been held that the magnitude, frequency, ratio of purchase & sales and holding will indicate the whether assessee was dealing in shares as business. Similar views have been held in 81 ITR 179(Cal), 74 ITR 692(Bom), 42 ITR 743(SC), 41 ITR' 685,692(SC). Hence the overall effect of far-t or s like volume and number of transactions, period of holding, high percentage of number of transactions as well as profits in shares held for shorter period, number of transactions where no delivery of shares was taken, repetitive dealing in same scrip,…

Khan Bahadm Ahmed Alladin& Sons v. CIT (1968) 68 ITR 573 (SC), P. Mohd. Meera Khan v. CIT (81 ITR 179) — Cited in 5 Judgments | BharatTax