Kishor Mohanlal Teliwala v. ACIT

64 TTJ 543Income Tax Appellate Tribunal#6236 most cited
19

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2026.

Sections most often in play

Section 44ADSection 115BBESection 132Section 132(4)Section 133ASection 139(1)Section 143(3)Section 145

Issues it is cited on

on money receiptsection 145(1)section 256section 158bctrade creditorsproject completion methodpercentage completion methodprohibited by lawon-moneysection 3(1)section 44adsection 199

Judgments citing Kishor Mohanlal Teliwala v. ACIT

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)-1(4), AHMEDABAD, AHMEDABAD vs. HINDVA BUILDERS, AHMEDABAD

In the result, all the four appeals of the Revenue are hereby dismissed

ITA 1563/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2017-18

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Sl.Nos.1 & 2 - Shri R.P. Rastogi, CIT-DR
Section 147Section 148Section 148ASection 149Section 250Section 3(1)

…S)A Nos 262,263 & 264/Ahd/2010 A Y 2003- 04,04-05 & 06-07 Page No 5 ACIT vs. Jignesh V. Koralwala by the Hon'ble Jurisdictional High Court of Gujarat in the case of CIT vs. Gurubachhan Singh J Juneja, reported in 215 CTR (Guj) 509. (c) Kishor Telwala vs. ACIT 64 TTJ 543 (Ahd.) in which following was held by the Hon'ble Jurisdictional ITAT, Ahmedabad that Entire 'on money' receipts in relation to booking or sale of flats could not be treated as undisclosed income, but under section 158BC, a reasonable amount of profit which assesse could have earned by charging 'on money' in relation to flats booked and sold by hi…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), AHMEDABAD, AHMEDABAD vs. HINDVA BUILDERS, AHMEDABAD

In the result, all the four appeals of the Revenue are hereby dismissed

ITA 1562/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2017-18

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Sl.Nos.1 & 2 - Shri R.P. Rastogi, CIT-DR
Section 147Section 148Section 148ASection 149Section 250Section 3(1)

…S)A Nos 262,263 & 264/Ahd/2010 A Y 2003- 04,04-05 & 06-07 Page No 5 ACIT vs. Jignesh V. Koralwala by the Hon'ble Jurisdictional High Court of Gujarat in the case of CIT vs. Gurubachhan Singh J Juneja, reported in 215 CTR (Guj) 509. (c) Kishor Telwala vs. ACIT 64 TTJ 543 (Ahd.) in which following was held by the Hon'ble Jurisdictional ITAT, Ahmedabad that Entire 'on money' receipts in relation to booking or sale of flats could not be treated as undisclosed income, but under section 158BC, a reasonable amount of profit which assesse could have earned by charging 'on money' in relation to flats booked and sold by hi…

DCIT, CENTRAL CIRCLE-1(4), AHMEDABAD, AHMEDABAD vs. HINDVA BUILDERS, AHMEDABAD

In the result, all the four appeals of the Revenue are hereby dismissed

ITA 1451/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2016-17

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Sl.Nos.1 & 2 - Shri R.P. Rastogi, CIT-DR
Section 147Section 148Section 148ASection 149Section 250Section 3(1)

…S)A Nos 262,263 & 264/Ahd/2010 A Y 2003- 04,04-05 & 06-07 Page No 5 ACIT vs. Jignesh V. Koralwala by the Hon'ble Jurisdictional High Court of Gujarat in the case of CIT vs. Gurubachhan Singh J Juneja, reported in 215 CTR (Guj) 509. (c) Kishor Telwala vs. ACIT 64 TTJ 543 (Ahd.) in which following was held by the Hon'ble Jurisdictional ITAT, Ahmedabad that Entire 'on money' receipts in relation to booking or sale of flats could not be treated as undisclosed income, but under section 158BC, a reasonable amount of profit which assesse could have earned by charging 'on money' in relation to flats booked and sold by hi…

DCIT, CENTRAL CIRCLE-1(4), AHMEDABAD, AHMEDABAD vs. HINDVA BUILDERS, AHMEDABAD

In the result, all the four appeals of the Revenue are hereby dismissed

ITA 1450/AHD/2024[2015-16]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2015-16

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Sl.Nos.1 & 2 - Shri R.P. Rastogi, CIT-DR
Section 147Section 148Section 148ASection 149Section 250Section 3(1)

…S)A Nos 262,263 & 264/Ahd/2010 A Y 2003- 04,04-05 & 06-07 Page No 5 ACIT vs. Jignesh V. Koralwala by the Hon'ble Jurisdictional High Court of Gujarat in the case of CIT vs. Gurubachhan Singh J Juneja, reported in 215 CTR (Guj) 509. (c) Kishor Telwala vs. ACIT 64 TTJ 543 (Ahd.) in which following was held by the Hon'ble Jurisdictional ITAT, Ahmedabad that Entire 'on money' receipts in relation to booking or sale of flats could not be treated as undisclosed income, but under section 158BC, a reasonable amount of profit which assesse could have earned by charging 'on money' in relation to flats booked and sold by hi…

ASST. CIT-CC-6(1), MUMBAI, BKC MUMBAI vs. GANADHISH GNP, MUMBAI

ITA 4485/MUM/2024[2019-20]Status: DisposedITAT Mumbai17 Mar 2025AY 2019-20

Bench: Shri Amarjit Singh, Hon'Ble & Shri Raj Kumar Chauhan, Hon'Ble

For Appellant: Shri Nishit Gandhi & Aadnya BhandariFor Respondent: Dr. Kishor Dhule, CIT/DR
Section 132Section 132(4)

…the case of Nalini V Shah vs. ACIT ITA No. 6183/M/2006 AY 2002-03 dated 20.05.2009 in which the Hon'ble ITAT have held that 15% profit rate of “on money” is a reasonable rate. 7.16 Further, Hon'ble Ahmedabad ITAT in case of Kishor Mohanlal Teliwala vs. ACIT 64 TTJ 543 held that 8% profit of unaccounted turnover was reasonable by the ITAT. The relevant extracts are as under: Thus, what can be added as the undisclosed income of the assessee under section 158BC, is a reasonable amount of profit which the assessee could have earned by charging…

ACIT CC 6(1), MUMBAI vs. GANADHISH GNP, MUMBAI

ITA 4481/MUM/2024[2021-22]Status: DisposedITAT Mumbai17 Mar 2025AY 2021-22

Bench: Shri Amarjit Singh, Hon'Ble & Shri Raj Kumar Chauhan, Hon'Ble

For Appellant: Shri Nishit Gandhi & Aadnya BhandariFor Respondent: Dr. Kishor Dhule, CIT/DR
Section 132Section 132(4)

…the case of Nalini V Shah vs. ACIT ITA No. 6183/M/2006 AY 2002-03 dated 20.05.2009 in which the Hon'ble ITAT have held that 15% profit rate of “on money” is a reasonable rate. 7.16 Further, Hon'ble Ahmedabad ITAT in case of Kishor Mohanlal Teliwala vs. ACIT 64 TTJ 543 held that 8% profit of unaccounted turnover was reasonable by the ITAT. The relevant extracts are as under: Thus, what can be added as the undisclosed income of the assessee under section 158BC, is a reasonable amount of profit which the assessee could have earned by charging "on money" in respect of flats and the Mumbai Bench of the Tribunal in…

M/S GANADHISH GNP ,MUMBAI vs. DCIT CIRCLE -6(1), MUMBAI

ITA 3980/MUM/2024[2021-22]Status: DisposedITAT Mumbai17 Mar 2025AY 2021-22

Bench: Shri Amarjit Singh, Hon'Ble & Shri Raj Kumar Chauhan, Hon'Ble

For Respondent: Shri Nishit Gandhi & Aadnya Bhandari
Section 132Section 132(4)

…n the case of Nalini V Shah vs. ACIT ITA No. 6183/M/2006 AY 2002-03 dated 20.05.2009 in which the Hon'ble ITAT have held that 15% profit rate of “on money” is a reasonable rate. 7.16 Further, Hon'ble Ahmedabad ITAT in case of Kishor Mohanlal Teliwala vs. ACIT 64 TTJ 543 held that 8% profit of unaccounted turnover was reasonable by the ITAT. The relevant extracts are as under: Thus, what can be added as the undisclosed income of the assessee under section 158BC, is a reasonable amount of profit which the assessee could have earned by charging "on money" in respect of flats and the Mumbai Bench of the Tribunal in…

GANADHISH GNP,NAVI MUMBAI vs. DCIT CIRCLE 6(1), MUMBAI, MUMBAI

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

ITA 3966/MUM/2024[2019-20]Status: DisposedITAT Mumbai17 Mar 2025AY 2019-20

Bench: Shri Amarjit Singh, Hon’Ble & Shri Raj Kumar Chauhan, Hon’Bleita No. 3965/Mum/2024 (A.Y. 2020-21) Ganadhish Gnp Dcit, Circle-6(1), Mumbai Shop No. 1203, 12Th Floor, Rupa Solitaire, Building No. A-I, Vs Sector-I, Millennium Business Park, Mahape Navi Mumbai- 400710. Pan: Aapfg 1164 L (Appellant) (Respondent) Ita No. 4481/Mum/2024 (A.Y. 2021-22) Dcit, Circle-6(1), Ganadhish Gnp Mumbai Shop No. 1203, 12Th Floor, Rupa Solitaire, Building No. A- Vs I, Sector-I, Millennium Business Park, Mahape Navi Mumbai-400710. Pan: Aapfg 1164 L (Appellant) (Respondent)

For Appellant: Shri Nishit Gandhi & Aadnya BhandariFor Respondent: Dr. Kishor Dhule, CIT/DR
Section 132Section 132(4)

…the case of Nalini V Shah vs. ACIT ITA No. 6183/M/2006 AY 2002-03 dated 20.05.2009 in which the Hon’ble ITAT have held that 15% profit rate of “on money” is a reasonable rate. 7.16 Further, Hon’ble Ahmedabad ITAT in case of Kishor Mohanlal Teliwala vs. ACIT 64 TTJ 543 held that 8% profit of unaccounted turnover was reasonable by the ITAT. The relevant extracts are as under: Thus, what can be added as the undisclosed income of the assessee under section 158BC, is a reasonable amount of profit which the assessee could have earned by charging "on money" in respect of flats and the Mumbai Bench of the Tribunal in…

GANADHISH GNP,NAVI MUMBAI vs. DCIT CIRCLE 6(1), MUMBAI, MUMBAI

ITA 3965/MUM/2024[2020-21]Status: DisposedITAT Mumbai17 Mar 2025AY 2020-21

Bench: Shri Amarjit Singh, Hon'Ble & Shri Raj Kumar Chauhan, Hon'Ble

For Appellant: Shri Nishit Gandhi & Aadnya BhandariFor Respondent: Dr. Kishor Dhule, CIT/DR
Section 132Section 132(4)

…the case of Nalini V Shah vs. ACIT ITA No. 6183/M/2006 AY 2002-03 dated 20.05.2009 in which the Hon'ble ITAT have held that 15% profit rate of “on money” is a reasonable rate. 7.16 Further, Hon'ble Ahmedabad ITAT in case of Kishor Mohanlal Teliwala vs. ACIT 64 TTJ 543 held that 8% profit of unaccounted turnover was reasonable by the ITAT. The relevant extracts are as under: Thus, what can be added as the undisclosed income of the assessee under section 158BC, is a reasonable amount of profit which the assessee could have earned by charging "on money" in respect of flats and the Mumbai Bench of the Tribunal in…

M/S. ATRI DEVELOPERS,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-3(3),, AHMEDABAD

Appeal is dismissed

ITA 2859/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 Jul 2024AY 2013-14

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2013-14 The Dcit, Cir.3(3) M/S.Atri Developers Ahmedabad. Vs 19, Ambalal House Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D Assessment Year : 2013-14 M/S.Atri Developers The Dcit, Cir.3(3) 19, Ambalal House Vs Ahmedabad. Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D

For Appellant: Shri Mohit Balani, ARFor Respondent: Shri Prateek Sharma, Sr.DR
Section 133ASection 250

…ed receipts. For this proposition, the Appellant has further relied upon following decisions: Industries - 258 ITR 654 (Guj) (ii) CIT v. Balchand Ajit Kumar - 263 ITR 610 (MP) (iii) Man Mohan Sadani v. CIT-304 ITR 52 (MP) (iv) Kishor Mohanlal Telwala V. ACIT. 64 TTJ 543 (Ahd.) I have gone through the above decision in reference to case before me. The Appellant has further relied upon following decisions of Ahmedabad Tribunal, wherein it has been held that where it is found that the appellant is charging "On-Money" receipts in respect of booking of flats, the entire receipts on account of On-Money would not be und…

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-3(3),, AHMEDABAD vs. M/S. ATRI DEVELOPERS,, AHMEDABAD

Appeal is dismissed

ITA 2855/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 Jul 2024AY 2013-14

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2013-14 The Dcit, Cir.3(3) M/S.Atri Developers Ahmedabad. Vs 19, Ambalal House Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D Assessment Year : 2013-14 M/S.Atri Developers The Dcit, Cir.3(3) 19, Ambalal House Vs Ahmedabad. Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D

For Appellant: Shri Mohit Balani, ARFor Respondent: Shri Prateek Sharma, Sr.DR
Section 133ASection 250

…ed receipts. For this proposition, the Appellant has further relied upon following decisions: Industries - 258 ITR 654 (Guj) (ii) CIT v. Balchand Ajit Kumar - 263 ITR 610 (MP) (iii) Man Mohan Sadani v. CIT-304 ITR 52 (MP) (iv) Kishor Mohanlal Telwala V. ACIT. 64 TTJ 543 (Ahd.) I have gone through the above decision in reference to case before me. The Appellant has further relied upon following decisions of Ahmedabad Tribunal, wherein it has been held that where it is found that the appellant is charging "On-Money" receipts in respect of booking of flats, the entire receipts on account of On-Money would not be und…

WELSPUN CORP LTD,MUMBAI vs. DCIT CEN CIR 22, MUMBAI

In the result, the appeals filed by the revenue are dismissed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 3890/MUM/2016[2008-09]Status: DisposedITAT Mumbai03 Apr 2023AY 2008-09

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadale

Section 143(3)Section 14ASection 32(1)(iia)

…. By this technique, a real income is to be determined. In support of its contention, reliance has been placed on the decision of Kishore Mohanlal ITA.No,3890&4364/5063&5483/5165&5043/5166&5044/Mum/2016 M/s. Welspun Corp Ltd, Mumbai. Telwala V/s. Asst. CIT, 64 TTJ 543 (Ahd.) on the theory of preponderance of probability. 26. Similarly in Ananthram veerasinghaiah &Co Vs CIT (123 ITR 457 (SC) There can be no escape from the proposition that the secret profit or undisclosed income of an assessee earned in an earlier assessment year may constitute a fund even though concealed, from which the assessee may draw subse…

M/S. MEGA AIMS,BHARUCH vs. ITO, WARD-1(3), BHARUCH

In the result, appeals filed by the Revenue (ITA Nos

ITA 751/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

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

…lders - 86 Taxmann : 6% Builders and 214 (Jaipur) (Mag) Developers iii) CIT Vs. Chandrika Towers - : 8% Builders 275 ITR 173 (MP) iv) Nandi Housing Pvt. Ltd. Vs. : 8% Builders DCIT-80TTJ750(Bang.) v) Kishor Telwala V. ACIT - : 8% of gross receipt Builders and 64 TTJ 543 (Ahd.) including on-money Developers 5.6 ITAT Ahmedabad in the case of Kishor Mohanlal Telwala Vs ACIT [1999] 107 TAXMAN 86 (Ahd.) (Mag.) have held that what was assessable was a reasonable amount of profit which assessee could have made and such profit at 8 per cent offered by assessee on total receipts was fair and reasonable. It was held by the…

M/S. MEGA AIMS,BHARUCH vs. ACIT, CIRCLE-1, BHARUCH

In the result, appeals filed by the Revenue (ITA Nos

ITA 750/SRT/2018[2013-14]Status: DisposedITAT Surat30 Mar 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

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

…lders - 86 Taxmann : 6% Builders and 214 (Jaipur) (Mag) Developers iii) CIT Vs. Chandrika Towers - : 8% Builders 275 ITR 173 (MP) iv) Nandi Housing Pvt. Ltd. Vs. : 8% Builders DCIT-80TTJ750(Bang.) v) Kishor Telwala V. ACIT - : 8% of gross receipt Builders and 64 TTJ 543 (Ahd.) including on-money Developers 5.6 ITAT Ahmedabad in the case of Kishor Mohanlal Telwala Vs ACIT [1999] 107 TAXMAN 86 (Ahd.) (Mag.) have held that what was assessable was a reasonable amount of profit which assessee could have made and such profit at 8 per cent offered by assessee on total receipts was fair and reasonable. It was held by the…

DEPUTY COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-1, BHARUCH vs. M/S. MEGA AIMS, BHARUCH

In the result, appeals filed by the Revenue (ITA Nos

ITA 723/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

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

…lders - 86 Taxmann : 6% Builders and 214 (Jaipur) (Mag) Developers iii) CIT Vs. Chandrika Towers - : 8% Builders 275 ITR 173 (MP) iv) Nandi Housing Pvt. Ltd. Vs. : 8% Builders DCIT-80TTJ750(Bang.) v) Kishor Telwala V. ACIT - : 8% of gross receipt Builders and 64 TTJ 543 (Ahd.) including on-money Developers 5.6 ITAT Ahmedabad in the case of Kishor Mohanlal Telwala Vs ACIT [1999] 107 TAXMAN 86 (Ahd.) (Mag.) have held that what was assessable was a reasonable amount of profit which assessee could have made and such profit at 8 per cent offered by assessee on total receipts was fair and reasonable. It was held by the…

DEPUTY COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-1, BHARUCH vs. M/S. MEGA AIMS, BHARUCH

In the result, appeals filed by the Revenue (ITA Nos

ITA 722/SRT/2018[2013-14]Status: DisposedITAT Surat30 Mar 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

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

…lders - 86 Taxmann : 6% Builders and 214 (Jaipur) (Mag) Developers iii) CIT Vs. Chandrika Towers - : 8% Builders 275 ITR 173 (MP) iv) Nandi Housing Pvt. Ltd. Vs. : 8% Builders DCIT-80TTJ750(Bang.) v) Kishor Telwala V. ACIT - : 8% of gross receipt Builders and 64 TTJ 543 (Ahd.) including on-money Developers 5.6 ITAT Ahmedabad in the case of Kishor Mohanlal Telwala Vs ACIT [1999] 107 TAXMAN 86 (Ahd.) (Mag.) have held that what was assessable was a reasonable amount of profit which assessee could have made and such profit at 8 per cent offered by assessee on total receipts was fair and reasonable. It was held by the…

THE ACIT, CIRCLE-2, BHARUCH vs. MANSI REALTY PVT. LTD., BHARUCH

In the result, the appeal of the revenue is dismissed

ITA 540/AHD/2016[2011-12]Status: DisposedITAT Surat13 Dec 2019AY 2011-12

Bench: Shri Sandeep Gosain & Shri O.P.Meenaआ.अ.सं./I.T.A No.540/Ahd/2016 िनधा"रणवष"/Assessment Year: 2011-12 Assistant Commissioner Vs. M/S. Mansi Realty Pvt. Ltd., Of Income Tax, Circle-2, Garden City, Nr. Gidc, Behind Bharuch – 392 001. Momaina Nagar, Kosamdi, Valia Road, Ankleshwar, Dist-Bharuch, Bharuch – 393 002. [Pan: Aagcm 6053 L] अपीलाथ" / Appellant ""यथ"/Respondent Shri Sapnesh Sheth, Ca िनधा"रतीक"ओरसे /Assessee By Shri Srinivas T. Bidari, Cit(D.R.) राज"वक"ओरसे /Revenue By 10.12.2019 सुनवाईकीतारीख/ Date Of Hearing: उ"ोषणाक"तारीख/Pronouncement On: 13.12.2019

Section 131Section 133ASection 143

…assessee has relied upon the decisions of Hon’ble Gujarat High Court in the case of CIT v. President Industries, 154 CTR 372 and in the case of Jay Builders v. ACIT, 33 taxmann.com 62 and also decision of Hon’ble ITAT, Ahmedabad in the case of Kishor Telwala 64 TTJ 543. It was contended that the addition could be made only in respect of those units where evidences relating to receipt of on-money has been found and not in respect of other units where there are no such evidences. Without prejudice, it was further claimed that even otherwise also the entire on-money cannot be taxed in the year of receipt as the sam…

ACIT CEN CIR 29, MUMBAI vs. VIJAYDEEP HOTELS P.LTD, MUMBAI

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

ITA 3291/MUM/2011[2004-05]Status: DisposedITAT Mumbai20 Jun 2016AY 2004-05

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं /I.Ta Nos. 3291,3293,3384 & 3385/Mum/11 ("नधा"रण वष" / Assessment Years: 2004-05 To 2007-08 The Acit, M/S. Vijaydeep Hotels Pvt. बनाम/ Cent. Cir-29, Ltd., Vs. Aayakar Bhavan, Hotel Bawa International, Mumbai-400 020 Nehru Road Ext, Near Domestic Airport, Vile Parle, Mumbai-400 049 आयकर अपील सं /I.Ta Nos. 3241 & 3243/Mum/11 ("नधा"रण वष" / Assessment Years: 2006-07 & 2007-08 M/S. Vijaydeep Hotels Pvt. The Acit, बनाम/ Ltd., Cent. Cir-29, Vs. Hotel Bawa International, Aayakar Bhavan, Nehru Road Ext, Mumbai-400 020 Near Domestic Airport, Vile Parle, Mumbai-400 049 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacv 1582D आयकर अपील सं /I.Ta Nos. 951 To 953/Mum/2013 ("नधा"रण वष" / Assessment Years: 2005-06 To 2007-08 Shri Karanveer Singh G. The Acit, बनाम/ Bawa, Cent. Cir-29, Vs. 22, Sahib Guru Angad Aayakar Bhavan, Niwas, Mumbai-400 020 Vitthal Nagar Co. Op. Soc. N.S. Road No. 22, Jvpd Scheme, Juhu, Vile Parle (E), Mumbai-400 049 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aejpb 8856F

For Appellant: Shri Rajiv KhandelwalFor Respondent: Shri G.M. Dass
Section 132Section 143(3)Section 153ASection 37(1)

…able. The Ld. Counsel for the assessee further submits that the entire sale of liquor cannot be taxed and he places reliance on the decisions in the case of Abhishek Corporation Vs DCIT {63 TTJ 651(Ahd)}, Kishore Mohanlal 5 Vijaydeep Hotels Telwala Vs ACIT (64 TTJ 543) and in the case of Agarwal Motors Vs ACIT 68 ITD 407 (Jab). 7. We have heard the rival contentions, perused the orders of the authorities below and the materials placed before us. The Assessing Officer while completing the assessment considered the entire gross sales of Rs. 53,34,070/- from Avalon Pub as unaccounted sales from liquor. The assess…

VIJAYDEEP HOTELS P. LTD,MUMBAI vs. DCIT CEN CIR 29, MUMBAI

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

ITA 3241/MUM/2011[2006-07]Status: DisposedITAT Mumbai20 Jun 2016AY 2006-07

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं /I.Ta Nos. 3291,3293,3384 & 3385/Mum/11 ("नधा"रण वष" / Assessment Years: 2004-05 To 2007-08 The Acit, M/S. Vijaydeep Hotels Pvt. बनाम/ Cent. Cir-29, Ltd., Vs. Aayakar Bhavan, Hotel Bawa International, Mumbai-400 020 Nehru Road Ext, Near Domestic Airport, Vile Parle, Mumbai-400 049 आयकर अपील सं /I.Ta Nos. 3241 & 3243/Mum/11 ("नधा"रण वष" / Assessment Years: 2006-07 & 2007-08 M/S. Vijaydeep Hotels Pvt. The Acit, बनाम/ Ltd., Cent. Cir-29, Vs. Hotel Bawa International, Aayakar Bhavan, Nehru Road Ext, Mumbai-400 020 Near Domestic Airport, Vile Parle, Mumbai-400 049 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacv 1582D आयकर अपील सं /I.Ta Nos. 951 To 953/Mum/2013 ("नधा"रण वष" / Assessment Years: 2005-06 To 2007-08 Shri Karanveer Singh G. The Acit, बनाम/ Bawa, Cent. Cir-29, Vs. 22, Sahib Guru Angad Aayakar Bhavan, Niwas, Mumbai-400 020 Vitthal Nagar Co. Op. Soc. N.S. Road No. 22, Jvpd Scheme, Juhu, Vile Parle (E), Mumbai-400 049 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aejpb 8856F

For Appellant: Shri Rajiv KhandelwalFor Respondent: Shri G.M. Dass
Section 132Section 143(3)Section 153ASection 37(1)

…able. The Ld. Counsel for the assessee further submits that the entire sale of liquor cannot be taxed and he places reliance on the decisions in the case of Abhishek Corporation Vs DCIT {63 TTJ 651(Ahd)}, Kishore Mohanlal 5 Vijaydeep Hotels Telwala Vs ACIT (64 TTJ 543) and in the case of Agarwal Motors Vs ACIT 68 ITD 407 (Jab). 7. We have heard the rival contentions, perused the orders of the authorities below and the materials placed before us. The Assessing Officer while completing the assessment considered the entire gross sales of Rs. 53,34,070/- from Avalon Pub as unaccounted sales from liquor. The assess…