Pranav Construction Co. v. ACIT

96 Taxmann 323High Court1998#9197 most cited

What is Pranav Construction Co. v. ACIT authority for?

Only the profit element embedded in 'on money' receipts, or a reasonable percentage of such 'on money', can be taxed. This principle applies even when expenditure is incurred outside the books of accounts, as evidenced by seized papers.

12

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2025.

Also referred to as

Pranav Construction Co. v ACIT · 1998 · on money · profit element · unexplained expenditure · section 132 · section 158bc · search and seizure · cash credits · assessment procedure

Also reported as

104 Taxmann.com 250

Sections most often in play

Section 132Section 132(4)Section 37(1)Section 158BCSection 44ADSection 69CSection 139(1)Section 142(1)

Issues it is cited on

project completion methodon money receiptpercentage completion methodprohibited by lawsection 158bcon-moneysection 44adsection 158bsection 158regular assessmentunexplained expendituresection 44

Judgments citing Pranav Construction Co. v. ACIT

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH 'G', MUMBAI BEFORE SHRI AMARJIT SINGH, HON'BLE ACCOUNTANT MEMBER AND SHRI RAJ KUMAR CHAUHAN, HON'BLE JUDICIAL MEMBER ITA No. 3966/Mum/2024 (A.Y. 2019-20) ITA No. 3965/Mum/2024 (A.Y. 2020-21) ITA No. 3980/Mum/2024 (A.Y. 2021-22) | Ganadhish GNP | DCIT, Mumbai | Circle-6(1), Mumbai | | Shop No. 1203, 12th Floor, Rupa | | Solitaire, Building No. A-I, | | Sector-I, Millennium Business | | Park, Mahape Navi Mumbai-400710. | | PAN: AAPFG 1164 L | (Respondent) | | (Appellant) | ITA No. 4485/Mum/2024 (A.Y. 2019-20) ITA No. 4481/Mum/2024 (A.Y. 2021-22) | DCIT…

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH 'G', MUMBAI BEFORE SHRI AMARJIT SINGH, HON'BLE ACCOUNTANT MEMBER AND SHRI RAJ KUMAR CHAUHAN, HON'BLE JUDICIAL MEMBER ITA No. 3966/Mum/2024 (A.Y. 2019-20) ITA No. 3965/Mum/2024 (A.Y. 2020-21) ITA No. 3980/Mum/2024 (A.Y. 2021-22) | Ganadhish GNP | DCIT, | Circle-6(1), | Shop No. 1203, 12th Floor, Rupa | Mumbai | Solitaire, Building No. A-I, | VS | Sector-I, Millennium Business | Park, Mahape Navi Mumbai- | 400710. | (Respondent) | PAN: AAPFG 1164 L | (Appellant) ITA No. 4485/Mum/2024 (A.Y. 2019-20) ITA No. 4481/Mum/2024 (A.Y. 2021-22) | DCIT, | Circle-6(1), |…

Ganadhish Gnp, Navi Mumbai vs. DCIT Circle 6(1), 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)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘G’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAJ KUMAR CHAUHAN, HON’BLE JUDICIAL MEMBER ITA 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-4…

Ganadhish Gnp, Navi Mumbai vs. DCIT Circle 6(1), 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)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH 'G', MUMBAI BEFORE SHRI AMARJIT SINGH, HON'BLE ACCOUNTANT MEMBER AND SHRI RAJ KUMAR CHAUHAN, HON'BLE JUDICIAL MEMBER ITA No. 3966/Mum/2024 (A.Y. 2019-20) ITA No. 3965/Mum/2024 (A.Y. 2020-21) ITA No. 3980/Mum/2024 (A.Y. 2021-22) | Ganadhish GNP | | Shop No. 1203, 12th Floor, Rupa | | Solitaire, Building No. A-I, | | Sector-I, Millennium Business | | Park, Mahape Navi Mumbai- | | 400710. | | PAN: AAPFG 1164 L | | (Appellant) | |----------------------------------------| | DCIT, | | Mumbai | | Circle-6(1), | | (Respondent) | ITA No. 4485/Mum/2024 (A.Y. 2019-20) IT…

DCIT Central Circle 6(1), Mumbai, Nariman Point Mumbai vs. Gnp Realty LLP, Thane

In the result, the appeal filed by the Revenue stands partly allowed

ITA 3105/MUM/2023[2021-22]Status: DisposedITAT Mumbai29 May 2024AY 2021-22

Bench: Shri Narender Kumar Choudhry & Shri Ratnesh Nandan Sahayassessment Year: 2021-22

For Appellant: Shri Nishit Gandhi, A.RFor Respondent: Dr. Kishor Dhule, D.R
Section 132Section 139(1)Section 142(1)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND SHRI RATNESH NANDAN SAHAY, ACCOUNTANT MEMBER Assessment Year: 2021-22 DCIT Central Circle-6(1), M/s. GNP Realty LLP, 19th Floor, Office No.1203, Bldg No.A1, Air India Building, Rupa Solitaire, Sector-1, Vs. Nariman Point, Millenium Business Park (MBP), Mumbai - 400021 Mahape, Navi Mumbai, Maharashtra – 400 701 PAN: AASFG3348K (Appellant) (Respondent) Present for: Assessee by : Shri Nishit Gandhi, A.R. Revenue by : Dr. Kishor Dhule, D.R. Date of Hearing : 25 . 04 . 2024 Date of Pronouncement…

Dy. Commissioner of Income Tax, Circle-16(2), Hyderabad vs. Mylan Laboratories Limited, Hyderabad

In the result, appeal of the assessee is partly allowed

ITA 12/HYD/2019[2014-15]Status: DisposedITAT Hyderabad13 Nov 2019AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Respondent: Sh. YVST Sai, D.R
Section 251Section 28Section 32Section 32(1)Section 37(1)Section 43(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD ‘A’ BENCH : Hyderabad Before Smt. P. Madhavi Devi, Judicial Member And Shri S. Rifaur Rahman, Accountant Member ITA No. 2335/Hyd./2018 Assessment Year: 2014-15 Mylan Laboratories Limited. Vs. Dy.CIT, Circle 16(2) Hyderabad Hyderabad. PAN: AADCM3491M (Appellant) (Respondent) ITA No. 12/Hyd./2019 Assessment Year: 2014-15 Dy.CIT, Circle 16(2) vs. Mylan Laboratories Limited. 2nd Floor, B Block, Plot No.564/A/22, Road no.92 I.T.Towers, A.C.Guards, Jubilee Hills Masab Tank Hyderabad 500 034. Hyderabad & (Appellant) (Respondent) For Revenue: Sh. YVST Sai, D.R. For…

Mylan Laboratories Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-16(2), Hyderabad

In the result, appeal of the assessee is partly allowed

ITA 2335/HYD/2018[2014-15]Status: DisposedITAT Hyderabad13 Nov 2019AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Respondent: Sh. YVST Sai, D.R
Section 251Section 28Section 32Section 32(1)Section 37(1)Section 43(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD ‘A’ BENCH : Hyderabad Before Smt. P. Madhavi Devi, Judicial Member And Shri S. Rifaur Rahman, Accountant Member ITA No. 2335/Hyd./2018 Assessment Year: 2014-15 Mylan Laboratories Limited. Vs. Dy.CIT, Circle 16(2) Hyderabad Hyderabad. PAN: AADCM3491M (Appellant) (Respondent) ITA No. 12/Hyd./2019 Assessment Year: 2014-15 Dy.CIT, Circle 16(2) vs. Mylan Laboratories Limited. 2nd Floor, B Block, Plot No.564/A/22, Road no.92 I.T.Towers, A.C.Guards, Jubilee Hills Masab Tank Hyderabad 500 034. Hyderabad & (Appellant) (Respondent) For Revenue: Sh. YVST Sai, D.R. For…

Ram Niwas Gupta, Dehradun vs. DCIT, Dehradun

In the result appeal of the assessee for AY 2013-14 is allowed for statistical purposes

ITA 4883/DEL/2016[2013-14]Status: DisposedITAT Delhi06 Feb 2019AY 2013-14

Bench: Shri Prashant Maharishi & Shri K.N.Chary

For Appellant: Shri Kapil Goel, AdvFor Respondent: Smt Sulekha Verma, CIT DR
Section 143Section 153ASection 69B

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K.N.CHARY, JUDICIAL MEMBER ITA No. 4881 to 4883/Del/2016 (Assessment Year: 2010-11, 2012-13 and 2013-14) Ram Niwas Gupta, Vs. DCIT, 59/6, Tyagi Road, Central Circle, Dehradun Dehradun PAN: ABIPG9411E (Appellant) (Respondent) Assessee by : Shri Kapil Goel, Adv Revenue by: Smt Sulekha Verma, CIT DR Date of Hearing 05/12/2018 Date of pronouncement 06/2/2019 O R D E R PER PRASHANT MAHARISHI, A. M. 1. These are the three appeals filed by the assessee against the order of the ld CIT(A)-2, Agra (camp at…

Ram Niwas Gupta, Dehradun vs. DCIT, Dehradun

In the result appeal of the assessee for AY 2013-14 is allowed for statistical purposes

ITA 4882/DEL/2016[2012-13]Status: DisposedITAT Delhi06 Feb 2019AY 2012-13

Bench: Shri Prashant Maharishi & Shri K.N.Chary

For Appellant: Shri Kapil Goel, AdvFor Respondent: Smt Sulekha Verma, CIT DR
Section 143Section 153ASection 69B

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K.N.CHARY, JUDICIAL MEMBER ITA No. 4881 to 4883/Del/2016 (Assessment Year: 2010-11, 2012-13 and 2013-14) Ram Niwas Gupta, Vs. DCIT, 59/6, Tyagi Road, Central Circle, Dehradun Dehradun PAN: ABIPG9411E (Appellant) (Respondent) Assessee by : Shri Kapil Goel, Adv Revenue by: Smt Sulekha Verma, CIT DR Date of Hearing 05/12/2018 Date of pronouncement 06/2/2019 O R D E R PER PRASHANT MAHARISHI, A. M. 1. These are the three appeals filed by the assessee against the order of the ld CIT(A)-2, Agra (camp at…

Ram Niwas Gupta, Dehradun vs. DCIT, Dehradun

In the result appeal of the assessee for AY 2013-14 is allowed for statistical purposes

ITA 4881/DEL/2016[2010-11]Status: DisposedITAT Delhi06 Feb 2019AY 2010-11

Bench: Shri Prashant Maharishi & Shri K.N.Chary

For Appellant: Shri Kapil Goel, AdvFor Respondent: Smt Sulekha Verma, CIT DR
Section 143Section 153ASection 69B

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K.N.CHARY, JUDICIAL MEMBER ITA No. 4881 to 4883/Del/2016 (Assessment Year: 2010-11, 2012-13 and 2013-14) Ram Niwas Gupta, Vs. DCIT, 59/6, Tyagi Road, Central Circle, Dehradun Dehradun PAN: ABIPG9411E (Appellant) (Respondent) Assessee by : Shri Kapil Goel, Adv Revenue by: Smt Sulekha Verma, CIT DR Date of Hearing 05/12/2018 Date of pronouncement 06/2/2019 O R D E R PER PRASHANT MAHARISHI, A. M. 1. These are the three appeals filed by the assessee against the order of the ld CIT(A)-2, Agra (camp at…

Sahakar Developers, Mumbai vs. CIT 25, Mumbai

In the result, both the appeals of the revenue and both the cross objections of the assessee filed for AY 2003-04 and 2006-07 are dismissed

ITA 7529/MUM/2013[2004-05]Status: DisposedITAT Mumbai31 Jan 2017AY 2004-05

Bench: Shri B.R.Baskaran & Shri Pawan Singh

Section 133ASection 245CSection 245ESection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “E”, MUMBAI BEFORE SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No.6235/Mum/2012 for A Y : 2003-04 ACIT-Central Circle -25(2), M/s Sahakar Developers, C-11, PratyakshaKar Bhavan, V 5, Sai Sadan, Roshan Nagar, R. No. 108, Bandra Kurla Complex, s. Borivali(W), Mumbai -92 Bandra(E), Mumbai-400051. PAN: AANFS1752N (Appellant) (Respondent) C.O. No.265/Mum/2013 in ITA No.6235/Mum/2012 for A Y: 2003-04 M/s Sahakar Developers, ACIT-Central Circle -25(2), 5, Sai Sadan, Roshan Nagar, C-11, PratyakshaKar Bhavan, Vs. Borivali(W), Mumbai -92 R. No…

ACIT 25(2), Mumbai vs. Sahakar Developers, Mumbai

In the result, both the appeals of the revenue and both the cross objections of the assessee filed for AY 2003-04 and 2006-07 are dismissed

ITA 6235/MUM/2012[2003-04]Status: DisposedITAT Mumbai31 Jan 2017AY 2003-04

Bench: Shri B.R.Baskaran & Shri Pawan Singh

Section 133ASection 245CSection 245ESection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “E”, MUMBAI BEFORE SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No.6235/Mum/2012 for A Y : 2003-04 ACIT-Central Circle -25(2), M/s Sahakar Developers, C-11, PratyakshaKar Bhavan, V 5, Sai Sadan, Roshan Nagar, R. No. 108, Bandra Kurla Complex, s. Borivali(W), Mumbai -92 Bandra(E), Mumbai-400051. PAN: AANFS1752N (Appellant) (Respondent) C.O. No.265/Mum/2013 in ITA No.6235/Mum/2012 for A Y: 2003-04 M/s Sahakar Developers, ACIT-Central Circle -25(2), 5, Sai Sadan, Roshan Nagar, C-11, PratyakshaKar Bhavan, Vs. Borivali(W), Mumbai -92 R. No…

Pranav Construction Co. v. ACIT (96 Taxmann 323) — Cited in 12 Judgments | BharatTax