Khatau MakanJi Spianing and Weaving Co. Ltd. v. CIT MANU/MH/0348/

30 ITR 84Reported decision1956#17588 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2022.

Judgments citing Khatau MakanJi Spianing and Weaving Co. Ltd. v. CIT MANU/MH/0348/

The State Bank of Hyd vs. The Jt.Commi.Spl.Range IV Hyd

ITTA/103/2001HC Telangana07 Sept 2022

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

Section 21Section 251Section 254(2)Section 260Section 260ASection 27Section 43I

…efund to t-lle extent of the tax levied on the e\cess dividends. By the time the matter was carried to the Supreme Court, the decision of the \ \ I \ l9 Bornbay t igh Court in Khatau Makanji Spinning, and Weaving Co. Ltd.'s case MANU/MH/0348/ 195{r : [19561 30 ITR 841 (Bom) was aflirmed in CIT v. Khatau Makanji Spinning and Weaving Co. Ltd. MANU/S( lo188l1960 : [1960] 40 ITR 189 (S(ll. 'the Supreme lourt alhrmed the view taken by the Bon-bay High Cou 't that the assessee was entitled to relir rrrl ol thc amol nt. This ruling is a clear auttroritl, ic r the propositir n that a subsequent decision can va.Ldh l,;r…

ITO, New Delhi vs. M/S. Paragon Xt, New Delhi

In the result appeal of the revenue is dismissed

ITA 363/DEL/2015[2010-11]Status: DisposedITAT Delhi14 Mar 2019AY 2010-11

Bench: Shri Amit Shukla & Shri L.P. Sahuasstt. Year: 2010-11

For Appellant: NoneFor Respondent: Shri Surender Pal, Sr. DR
Section 194C

…sumption need be made unless the facts cannot be ascertained, and then only to the extent to which they cannot be ascertained. There is no room for theories as to flow of costs. Minister of National Revenue v. Anaconda American Brass Ltd. [1956J AC 85; [1956) 30 ITR 84,99 (PC). Section 145 of the Income-tax Act, 1961, confers sufficient power upon the officer-nay it imposes a duty upon him-to make such computation in such manner as he determines for deducing the correct profits and gains. This means that where, accounts are prepared without disclosing the real cost of the stock in- trade, albeit on sound expert a…

M/S the Keshab Jewellers, Kolkata vs. JCIT, R-50, Kolkata

In the result, the appeal of the assessee is allowed

ITA 1225/KOL/2016[2011-2012]Status: DisposedITAT Kolkata01 Aug 2018AY 2011-2012

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1225/Kol/2016 Assessment Year : 2011-12 M/S The Keshab Jewellers -Vs- Jcit, Range-50, Kolkata [Pan: Aabft 5144 R ] (Appellant) (Respondent)

For Appellant: Shri Manoj Kr. Tiwari, FCAFor Respondent: Shri Sallong Yaden, Addl. CIT, Sr. DR
Section 143(3)

…Accountants of India and para 26 of the International Accounting Standard (IAS-2) as observed by the Third Member of the Tribunal in the assessee's own case. This shows that much water has flown after the decision of the Privy Council in the case reported as 30 ITR 84 (supra). One cannot keep his eyes shut to the latest development of the modern age. The Tribunal in the country have also accepted the LIFO method. The Delhi Bench of the Tribunal in the case of Jain Abhushan Bhandar v. ITO (1987) 29 TTJ(Del) 75 and the Cochin Bench of the Tribunal in the case of ITO vs. Sree Padmanabha Jewellery Mart (1987) 28 TTJ…

ITO, WD-9(3), Kolkata vs. M/S Roopshree Jewellers Pvt. Ltd., Kolkata

In the result, both the appeals of the assessee as well as the revenue are partly allowed for statistical purposes

ITA 828/KOL/2015[2010-2011]Status: DisposedITAT Kolkata17 Apr 2018AY 2010-2011

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 442/Kol/2015 Assessment Year : 2010-11 M/S Roopshree Jewellers (P) Ltd. -Vs- Ito, Ward-9(3), Kolkata [Pan: Aabcr 2241 N] (Appellant) (Respondent) I.T.A No. 828/Kol/2015 Assessment Year : 2010-11 Ito, Ward-9(3), Kolkata -Vs- M/S Roopshree Jewellers (P) Ltd. [Pan: Aabcr 2241 N] (Appellant) (Respondent)

For Appellant: Shri S.M. Surana, AdvocateFor Respondent: Shri P.K. Srihari, CIT
Section 142(1)Section 143(3)Section 145A

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : KOLKATA [Before Hon’ble Shri Aby. T. Varkey, JM & Shri M.Balaganesh, AM ] I.T.A No. 442/Kol/2015 Assessment Year : 2010-11 M/s Roopshree Jewellers (P) Ltd. -vs- ITO, Ward-9(3), Kolkata [PAN: AABCR 2241 N] (Appellant) (Respondent) I.T.A No. 828/Kol/2015 Assessment Year : 2010-11 ITO, Ward-9(3), Kolkata -vs- M/s Roopshree Jewellers (P) Ltd. [PAN: AABCR 2241 N] (Appellant) (Respondent) For the Appellant : Shri S.M. Surana, Advocate For the Respondent : Shri P.K. Srihari, CIT Shri R.P. Nag, Addl. CIT Date of Hearing : 06.04.2018 Date of Pronouncement…

M/S Roopshree Jewellers (P) Ltd., Kolkata vs. ITO, WD-9(3), Kolkata

In the result, both the appeals of the assessee as well as the revenue are partly allowed for statistical purposes

ITA 442/KOL/2015[2010-2011]Status: DisposedITAT Kolkata17 Apr 2018AY 2010-2011

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 442/Kol/2015 Assessment Year : 2010-11 M/S Roopshree Jewellers (P) Ltd. -Vs- Ito, Ward-9(3), Kolkata [Pan: Aabcr 2241 N] (Appellant) (Respondent) I.T.A No. 828/Kol/2015 Assessment Year : 2010-11 Ito, Ward-9(3), Kolkata -Vs- M/S Roopshree Jewellers (P) Ltd. [Pan: Aabcr 2241 N] (Appellant) (Respondent)

For Appellant: Shri S.M. Surana, AdvocateFor Respondent: Shri P.K. Srihari, CIT
Section 142(1)Section 143(3)Section 145A

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : KOLKATA [Before Hon’ble Shri Aby. T. Varkey, JM & Shri M.Balaganesh, AM ] I.T.A No. 442/Kol/2015 Assessment Year : 2010-11 M/s Roopshree Jewellers (P) Ltd. -vs- ITO, Ward-9(3), Kolkata [PAN: AABCR 2241 N] (Appellant) (Respondent) I.T.A No. 828/Kol/2015 Assessment Year : 2010-11 ITO, Ward-9(3), Kolkata -vs- M/s Roopshree Jewellers (P) Ltd. [PAN: AABCR 2241 N] (Appellant) (Respondent) For the Appellant : Shri S.M. Surana, Advocate For the Respondent : Shri P.K. Srihari, CIT Shri R.P. Nag, Addl. CIT Date of Hearing : 06.04.2018 Date of Pronouncement…