Polisetti Subbaraidu & Co. v. Commissioner Of Income Tax SOURCE

69 ITR 738High Court1968#25487 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2019 to 2019.

Judgments citing Polisetti Subbaraidu & Co. v. Commissioner Of Income Tax SOURCE

D.C.I.T. Central Cricle, Raipur vs. Mahamaya Steel Industries Ltd, Raipur

In the result, cross objections preferred by the assessee in CO

ITA 233/BIL/2014[2010-11]Status: DisposedITAT Raipur07 Nov 2019AY 2010-11

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita Nos.232 To 235/Rpr/2014 धनधाारण वषा / Assessment Years : 2009-10 To 2012-13

For Appellant: Shri Veekaas S. SharmaFor Respondent: Shri Santosh Kumar
Section 132

…results are not strikingly lower than the industry average or that the results are not supported by bills/vouchers or that the quantitative details have not been maintained properly. In Polisetti Subbaraidu & Co. Vs. Commissioner Of Income Tax SOURCE: (1968) 69 ITR 738 (AP). Another decision wherein it was held that non maintenance of daily stock register per se is not sufficient to reject the books of accounts as it is not mandated by law is the decision of the Hon‟ble High Court of Delhi in Commissioner of Income Tax Vs. Smt. Poonam Rani (2010) 326 ITR 223. From the ratio of the aforesaid decision, it is also…

D.C.I.T. Central Cricle, Raipur vs. Mahamaya Steel Industries Ltd, Raipur

In the result, cross objections preferred by the assessee in CO

ITA 232/BIL/2014[2009-10]Status: DisposedITAT Raipur07 Nov 2019AY 2009-10

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita Nos.232 To 235/Rpr/2014 धनधाारण वषा / Assessment Years : 2009-10 To 2012-13

For Appellant: Shri Veekaas S. SharmaFor Respondent: Shri Santosh Kumar
Section 132

…results are not strikingly lower than the industry average or that the results are not supported by bills/vouchers or that the quantitative details have not been maintained properly. In Polisetti Subbaraidu & Co. Vs. Commissioner Of Income Tax SOURCE: (1968) 69 ITR 738 (AP). Another decision wherein it was held that non maintenance of daily stock register per se is not sufficient to reject the books of accounts as it is not mandated by law is the decision of the Hon‟ble High Court of Delhi in Commissioner of Income Tax Vs. Smt. Poonam Rani (2010) 326 ITR 223. From the ratio of the aforesaid decision, it is also…

ACIT, Circle-35, Kolkata vs. M/S. Kedia Pipes, Kolkata

In the result, the appeal of the revenue is dismissed

ITA 2098/KOL/2014[2010-2011]Status: DisposedITAT Kolkata10 Apr 2019AY 2010-2011

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm] I.T.A. No. 2098/Kol/2014 Assessment Year: 2010-11 Acit, Circle – 35 Kolkata.................................………………………………………………….....Appellant Aayakar Bhawan Poorva, 8Th Floor, 110, Shanti Palli, Kolkata – 700 107. [Pan: Aadfk 1107 D] M/S. Kedia Pipes...................…………………………………………………..............................Respondent 33/1, Netaji Subhas Road, 277, Marshall House, 2Nd Floor, Kolkata – 700 001. Appearances By: Shri C.J. Singh, Jcit, Sr. Dr Appearing On Behalf Of The Revenue. Shri J.P. Khaitan, Sr. Advocate & Shri Sanjoy Modi, Fca Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : January 17, 2019 Date Of Pronouncing The Order : April 10, 2019 Order

Section 133ASection 145(3)

…Kasturi. (xiii) Assistant Commissioner of Income Tax v. Gendalal Hazarilal & Co. (xiv) Seth Nathuram Munnalal v. CIT [1954] 25 ITR 216 (Nag) (xv) General Commercial Corporation Ltd. v CIT [1966] 62 ITR 459 (MAD) (xvi) Polisetti Subbaraidu & Co. v. CIT [1968] 69 ITR 738 (AP) (xvii) S. Sarabhaiah & Sons v. CIT [1967] 64 ITR 175 (AP) (xviii) Yaggina Veeraraghavulu & Mavuleti Somaraju & Co. v. CIT [1966] 62 ITR 528 (AP) Common principles which emerged from all the above judicial decisions are as under: (i) Rejection of books of accounts without pointing out any specific instance of irregularity is not valid. (ii) An…

Polisetti Subbaraidu & Co. v. Commissioner Of Income Tax SOURCE (69 ITR 738) — Cited in 3 Judgments | BharatTax