P.G. & W. Sawoo Pvt. Ltd. & Anr. v. ACIT

385 ITR 60Supreme Court of India2016#24777 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2023.

Judgments citing P.G. & W. Sawoo Pvt. Ltd. & Anr. v. ACIT

Assistant Commissioner of Income Tax Circle- 2(1), Bilaspur vs. M/S Jila Sahkari Kendriya Bank Maryadit, Bilaspur

In the result, the appeal filed by the revenue is allowed in terms of our aforesaid observations

ITA 92/RPR/2018[2012-13]Status: DisposedITAT Raipur04 Jul 2023AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 92/Rpr/2018 "नधा"रण वष" / Assessment Year : 2012-13 The Assistant Commissioner Of Income Tax, Circle-2(1), Bilaspur .......अपीलाथ" / Appellant बनाम / V/S. M/S. Jila Sahakari Kendriya Bank Maryadit, Sahakari Bhawan, Nehru Chowk, Bilaspur (C.G.) Pan : Aaaaj0607P ……""यथ" / Respondent

For Appellant: Shri Nikhilesh Begani, CAFor Respondent: Smt. Ila M. Parmar, CIT-DR
Section 143(3)Section 263(1)

…othetical income had relied on a host of judicial pronouncements, as under: 12 ACIT, Circle-2(1), Bilaspur Vs. M/s. Jila Sahakari Kendriya Bank Maryadit (i) CIT Vs. Excel Industries Ltd. (2013) 358 ITR 295 (SC) (ii) P.G And W. Sawoo Pvt. Ltd. Vs. CIT (2016) 385 ITR 60 (SC) (iii) Morvi Industries Ltd. Vs. CIT (1971) 82 ITR 835 (SC) (iv) CIT Vs. Ashokbhai Chimanbhai (1965) 56 ITR 42 (SC) (v) E.D. Sasson & Company Ltd. Vs. CIT (1954) 26 ITR 27 (SC) (vi) Godhra Electricity Co. Ltd. Vs. CIT (1997) 225 ITR 746 (SC) (vii) CIT Vs. Birla Gwalior (P) Ltd. (1973) 89 ITR 266 (SC) (viii) CIT Vs. Suman Dhamija (2016) 382 ITR…

Delicate Realtors Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the three appeals filed by the respective assessees are allowed

ITA 3253/DEL/2015[2011-12]Status: DisposedITAT Delhi04 Oct 2017AY 2011-12

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 3185/Del/2015 (A.Y .2011-12)

Section 132Section 234BSection 68

…submits for all the three appeals that arbitration proceedings were going on. Since the factum of arbitration is not in doubt, therefore applying the theory of accrual of income as highlighted in recent Hon’ble Supreme Court decision in case of P. G. & Sawoo (385 ITR 60), no income can be said to have accrued during the pendency of arbitration proceeding, in the period under consideration. Only in the period when arbitration proceedings are settled and assessee gets ownership of the money, then only in that period accrual of income can take place. Since payer of the sum has claimed refund of the money given in ar…

Pavitra Realcon Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the three appeals filed by the respective assessees are allowed

ITA 3185/DEL/2015[2011-12]Status: DisposedITAT Delhi04 Oct 2017AY 2011-12

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 3185/Del/2015 (A.Y .2011-12)

Section 132Section 234BSection 68

…submits for all the three appeals that arbitration proceedings were going on. Since the factum of arbitration is not in doubt, therefore applying the theory of accrual of income as highlighted in recent Hon’ble Supreme Court decision in case of P. G. & Sawoo (385 ITR 60), no income can be said to have accrued during the pendency of arbitration proceeding, in the period under consideration. Only in the period when arbitration proceedings are settled and assessee gets ownership of the money, then only in that period accrual of income can take place. Since payer of the sum has claimed refund of the money given in ar…

P.G. & W. Sawoo Pvt. Ltd. & Anr. v. ACIT (385 ITR 60) — Cited in 3 Judgments | BharatTax