Pandit Brothers V/s CIT, (1954)26 ITR 159 (Punj), S. Veereah Reddiar v. CIT

83 ITR 484High Court1972#4545 most cited

What is Pandit Brothers V/s CIT, (1954)26 ITR 159 (Punj), S. Veereah Reddiar v. CIT authority for?

Account books of an assessee cannot be rejected solely on the grounds of low profits or the absence of a stock register. The rejection must be supported by further evidence or verification.

26

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Pandit Brothers V/s CIT · rejection of books of account · low profits · absence of stock register · S. Veereah Reddiar v/s CIT · M. Durai Raj v/s CIT · assessment procedure

Sections most often in play

Section 143(3)Section 115BBESection 145Section 68Section 69ASection 110Section 133ASection 139(1)

Issues it is cited on

rejection of books of accountsection 145(3)section 145section 40a(3)complete scrutinysection 44income-tax officersection 131section 69cdouble taxationcommissioner (appeals)section 133a

Judgments citing Pandit Brothers V/s CIT, (1954)26 ITR 159 (Punj), S. Veereah Reddiar v. CIT

The ITO, Ward-4(4), Surat vs. M/S. Valentine Cine Vision Limited, Surat

In the result, the appeal of the assessee stands allowed for statistical purposes

ITA 2419/AHD/2015[2011-12]Status: DisposedITAT Surat31 May 2019AY 2011-12

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadavassessment Year: 2011-12

For Appellant: Shri Rasesh Shah, CAFor Respondent: Shri B.P.K. Panda, Sr. DR
Section 43B

…ITA 2438/Ahd/2015 Kumar v. CIT [1978] 115 ITR 524 (SC); Chouthmal Agarwalla v. CIT [1962] 46 ITR 262 (Assam); R.V.S. and Sons Dairy Farm v. CIT [2002] 257 ITR 764 (Mad); International Forest Co. v. CIT [1975] 101 ITR 721 (J & K) ; M. Durai Raj v. CIT [1972] 83 ITR 484 (Ker); Ramchandra Ramnivas v. State of Orissa [1970] 25 STC 501 (Orissa); Action Electricals v. Deputy CIT [2002] 258 ITR 188 (Delhi) and Kamal Kumar Saharia v. CIT [1995] 216 ITR 217 (Gauhati) indicate that the AO is not fettered by any technical rules of evidence and pleadings, and he is entitled to act on material which are not acceptable in ev…

M/S Pawan Enterprises, Jaipur vs. Assistant Commissioner of Income Tax, Jaipur

ITA 76/JPR/2018[2014-15]Status: DisposedITAT Jaipur04 Jul 2018AY 2014-15

Bench: The Itat By Taking Following

For Appellant: Shri Vijay Goyal (CA) &For Respondent: Smt. Seema Meena (JCIT-DR)
Section 143(3)Section 145(3)

…we pray your honor to quash the reasoning offered by the Assessing Officer for rejecting the books as legally unsustainable proposition. We further rely on the following decisions:- (i) M. DURAI RAJ vs. COMMISSIONER OF INCOME TAX HIGH COURT OF KERALA (1972) 83 ITR 484 (KER) :— Held What is relevant to consider in such cases is whether the assessee's accounts are maintained according to the method regularly employed by him, whether they are correct and complete, and whether the income can be properly computed from the accounts. There is no finding that the purchases have been exaggerated or the sales have been s…

ACIT, Meerut vs. M/S Arihant Pulication (India) Ltd., Meerut

The appeals of the Revenue are dismissed

ITA 5405/DEL/2013[2010-11]Status: DisposedITAT Delhi16 Jun 2017AY 2010-11

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

Section 145(3)

…question of law arose. There is no finding that merely on account of the absence of stock register, the books of accounts can be rejected. 2.10 The assessee has also relied on the decisions rendered in the cases of Smt Poonam Rani (326 ITR 223); M. Durag Raj (83 ITR 484); Vikram Plastics (239 ITR 161), Ludhiana Steel Roll Mills (295 ITR 111) and Madani Construction (296 ITR 45). 2.11 In view of the totality of the above discussion, the rejection of the book of accounts and the consequent estimation of profit cannot be sustained and is directed to be deleted. 2.12 Subject to the above remarks, Ground Nos. 1 to 17…

DCIT, New Delhi vs. M/S Jaipuria Infrastructure Developers, New Delhi

In the result, appeal of the Revenue is allowed partly for statistical purpose

ITA 1332/DEL/2011[2007-08]Status: DisposedITAT Delhi16 Jun 2017AY 2007-08

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2007-08 Vs. M/S. Dcit, Circle – 4(1), Room No. Jaipuria Infrastructure 407, C.R. Building, I.P. Estate, Developers, 9B, Hansalaya, New Delhi Connaught Place, New Delhi Pan : Aaccb1286C (Appellant) (Respondent) Appellant By Sh. Umesh Chand Dubey, Sr.Dr Respondent By S/Sh. Rupesh Jain & Dipesh Jain, Adv. Date Of Hearing 18.05.2017 Date Of Pronouncement 16.06.2017 Order Per O.P. Kant, A.M.: This Appeal By The Revenue Is Directed Against Order Dated 28/01/2011 Of The Ld. Commissioner Of Income-Tax (Appeals)-Vii, New Delhi [In Short “The Cit-(A)”] For Assessment Year 2007-08, Raising Following Grounds:

Section 133ASection 143(2)Section 143(3)Section 37

…ee failed to show any record of consumption of material to the Assessing Officer. In our opinion, the Ld. CIT-(A) has not appreciated the facts properly and ignored the facts of non-maintenance of consumption register. In the case of M Durai Raj V. CIT (1972) 83 ITR 484 (ker) relied upon by the Ld. CIT-(A), also the stock register was maintained by the assessee in terms of bags purchased and sold and the issue was that it was not maintained as desired by the Assessing Officer. Thus the facts of the said case are also distinguishable from the facts of the instant assessee. 4.6 In the case of Harish Ahuja Vs. CIT (…

DCIT, Jaipur vs. Kayakalp Herbal Pvt. Ltd., Jaipur

ITA 609/JPR/2016[2005-06]Status: DisposedITAT Jaipur25 Apr 2017AY 2005-06
For Appellant: Shri Vijay Goyal, CA &For Respondent: Smt. Pratima Kaushik, CIT - DR fu/kZkfjrh dh vksj ls@
Section 139(1)Section 153A

…, we pray your honor to quash the reasoning offered by the Assessing Officer for rejecting the books as legally unsustainable proposition. We further rely on the following decisions:- (i) M. DURAI RAJ vs. COMMISSIONER OF INCOME TAX HIGH COURT OF KERALA (1972) 83 ITR 484 (KER) :— Held What is relevant to consider in such cases is whether the assessee's accounts are maintained according to the method regularly employed by him, whether they are correct and complete, and whether the income can be properly computed from the accounts. There is no finding that the purchases have been exaggerated or the sales have been s…

ACIT, Circle - 1, Asansol vs. Burnpur Cement Ltd., Asansol

In the result, the appeal of the revenue is dismissed

ITA 28/KOL/2012[2008-09]Status: DisposedITAT Kolkata19 Oct 2016AY 2008-09

Bench: Shri M. Balaganesh, Am & Shri K. Narasimha Chary, Jm आयकर अपील सं./Ita No.28/Kol/2012 ("नधा"रण वष" / Assessment Year :2010-2011) Acit, Circle-I, Lower Vs. Brunpur Cement Ltd., 141, Chelidanga, Asansol-4 Cement House, Saradapally, Ashok Nagar, Asansol, District-Burdwan- 713304 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacca 1999 B .. (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से /Revenue By : Shri Niraj Kumar Cit Dr "नधा"रती क" ओर से /Assessee By : Shri S.M.Surana Advocate सुनवाई क" तार"ख / Date Of Hearing : 26/08/2016 घोषणा क" तार"ख/Date Of Pronouncement 19/10/2016 आदेश / O R D E R Per M.Balaganesh, Am This Appeal Of The Assessee Arises Out Of The Order Of Learned Cit(A), Asansol, In Appeal No.296/Cit(A)/Asl/R-I/Asl/10-11 Dated 31.10.2011 Passed Against The Order Of Assessment Framed U/S.144 Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’).

For Appellant: Shri S.M.Surana AdvocateFor Respondent: Shri Niraj Kumar CIT DR
Section 144

…sions :- Pandit Bros vs CIT reported in 26 ITR 159 (P&H) S Veeriah Reddiar vs CIT reported in 38 ITR 152 (Ker) International Forest Co vs CIT reported in 101 ITR 721 (J&K) Ratna Café vs State of Madras reported in 33 STC 39 (Mad) M Durairaj vs CIT reported in 83 ITR 484 (Ker) Jhandu Mal Tara Chand Rice Mills vs CIT reported in 73 ITR 192 (P&H) ITO vs Girish M Mehta reported in 296 ITR (AT) 125 (Rajkot) CIT vs Smt Poonam Rani reported in 326 ITR 223 (Del) CIT vs Paradise Holidays reported in 325 ITR 13 (Del) Gamdiwal Dairy vs ACIT reported in 7 ITR (Tribunal) 114 CIT vs Jas Jack Elegance Exports reported in 324 IT…