Prem Enterprises v. Income Tax Officer

25 Taxmann.com 179Reported decision2012#7352 most cited

What is Prem Enterprises v. Income Tax Officer authority for?

An assessee engaged in the construction business, following the project completion method of accounting, can continue to do so even if the Assessing Officer believes the percentage completion method should be applied based on the percentage of project costs incurred.

15

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2018 to 2025.

Also referred to as

Prem Enterprises v ITO · section 145 · project completion method · percentage completion method · construction business · accounting method · taxable income · consistency in accounting

Sections most often in play

Section 131Section 133ASection 142(1)Section 143(3)Section 250Section 43CASection 50CSection 56

Issues it is cited on

section 145(1)section 2(7)section 132(2)section 132(1)(a)section 153(a)(1)section 250(1)section 45(2)project completion methodsection 211percentage completion methodsection 145(2)section 52

Judgments citing Prem Enterprises v. Income Tax Officer

DCIT, Central Circle-1(3), Mumbai vs. Amardeep Constructions, Mumbai

In the result, appeal of the revenue bearing ITA No

ITA 3202/MUM/2025[2019-20]Status: DisposedITAT Mumbai13 Oct 2025AY 2019-20

Bench: Shri. Vikram Singh Yadav & Shri. Anikesh Banerjeedcit, Central Circle -1(3), Mumbai Amardeep Constructions Room No. 903, 9Th Floor, Pratishtha 7/08, Patidar Complex, Vs. Bhavan, M.K. Road, Mumbai Kannamwar Nagar No. 2, Near 400020 Vikas High School Vikhroli East, Mumbai 400083 स्थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaufa3513A (Appellant) (Respondent) निर्ााररतीकीओरसे/ Assessee By: Shri. J.P. Bairagra& Ms. Rupa Nanda /Revenue By: Shri. Surendra Mohan (Sr. Dr)

For Appellant: Shri. J.P. Bairagra& Ms. Rupa NandaFor Respondent: Shri. Surendra Mohan (SR. DR)
Section 131Section 133ASection 143(3)Section 250Section 43C

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH MUMBAI BEFORE SHRI. VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI. ANIKESH BANERJEE, JUDICIAL MEMBER DCIT, Central Circle -1(3), Mumbai Amardeep Constructions Room No. 903, 9th Floor, Pratishtha 7/08, Patidar Complex, Vs. Bhavan, M.K. Road, Mumbai Kannamwar Nagar No. 2, Near 400020 Vikas High School Vikhroli East, Mumbai 400083 स्थायीलेखासं./जीआइआरसं./PAN/GIR No: AAUFA3513A (Appellant) (Respondent) निर्ााररतीकीओरसे/ Assessee by: Shri. J.P. Bairagra& Ms. Rupa Nanda /Revenue by: Shri. Surendra Mohan (SR. DR) Date of Hearing 15.09.2025 Date of Pronouncement 13.10.202…

M/S. S.R. Ferro Alloys, Jhabua vs. The PCIT, Bhopal

In the result, the appeal of assessee is allowed

ITA 148/IND/2021[2015-16]Status: DisposedITAT Indore09 Nov 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanis.R. Ferro Alloys Pr. Cit, Central 9, Siddheswar Colony Bhopal Vs. Jhabua (Appellant / Assessee) (Revenue) Pan: Abhfs7377Q Appellant By Shri Sumit Nema, Sr. Adv. & Gagan Tiwari, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2023 Date Of Pronouncement 09.11.2023

Section 263

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER S.R. Ferro Alloys Pr. CIT, Central 9, Siddheswar Colony Bhopal Vs. Jhabua (Appellant / Assessee) (Revenue) PAN: ABHFS7377Q Appellant by Shri Sumit Nema, Sr. Adv. & Gagan Tiwari, AR Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 12.10.2023 Date of Pronouncement 09.11.2023 O R D E R Per Vijay Pal Rao, JM: This appeal by the Assessee is directed against the order dated 30.03.2021 of Pr. Commissioner of Income Tax, passed u/s 26…

M/S Parth Developers, Dhar vs. The PCIT -1, Indorer

In the result, appeal of assessee is allowed

ITA 419/IND/2022[2015-16]Status: DisposedITAT Indore28 Aug 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Parth Developers Pr. Cit-1 Manawar Dist. Indore Vs. Dhar (Appellant / Assessee) (Respondent/ Revenue) Pan: Aalfp 4509 N Assessee By Shri Milind Wadhwani, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 22.06.2023 Date Of Pronouncement 28.07.2023

Section 142(1)Section 143Section 143(3)Section 263Section 43C

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER M/s. Parth Developers Pr. CIT-1 Manawar Dist. Indore Vs. Dhar (Appellant / Assessee) (Respondent/ Revenue) PAN: AALFP 4509 N Assessee by Shri Milind Wadhwani, AR Revenue by Shri P.K. Mishra, CIT-DR Date of Hearing 22.06.2023 Date of Pronouncement 28.07.2023 O R D E R Per Vijay Pal Rao, JM: This appeal by the Assesse is directed against the revision order dated 28.11.2022 passed by Pr. Commissioner of Income Tax u/s 263 of the Act f…

DCIT, New Delhi vs. M/S. Sahara India Power Corporation Ltd., Pune

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 5067/DEL/2013[2005-06]Status: PendingITAT Delhi28 Apr 2023AY 2005-06

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…ITA No. 109/Pun/2007 1 AND ITA.1155/Del/2009 & ITA.5067/Del/2013 AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH : ‘A’ NEW DELHI ] BEFORE Dr. B.R.R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER I.T.A. No. 109/PUN/2007 (A.Y. 2003-04) Sahara India Power ACIT, Vs. Corporation Limited, Circle : 6, Amby Valley, Sahara Lake City, Pune. Village Ambavane, Distt. Lonavala, Pune– 410401, Maharastra. PAN No. AAGCS8313P I.T.A. No. 1155/DEL/2009 (A.Y. 2004-05) Sahara India Power DCIT, Vs. Corporation Limited, Amby Valley, Cen…

Sahara India Power Corporation Ltd, Pune vs. DCIT, New Delhi

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 1155/DEL/2009[2004-05]Status: DisposedITAT Delhi28 Apr 2023AY 2004-05

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…ITA No. 109/Pun/2007 1 AND ITA.1155/Del/2009 & ITA.5067/Del/2013 AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH : ‘A’ NEW DELHI ] BEFORE Dr. B.R.R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER I.T.A. No. 109/PUN/2007 (A.Y. 2003-04) Sahara India Power ACIT, Vs. Corporation Limited, Circle : 6, Amby Valley, Sahara Lake City, Pune. Village Ambavane, Distt. Lonavala, Pune– 410401, Maharastra. PAN No. AAGCS8313P I.T.A. No. 1155/DEL/2009 (A.Y. 2004-05) Sahara India Power DCIT, Vs. Corporation Limited, Amby Valley, Cen…

Sahara India Power Corporation Ltd., Pune vs. Assistant Commissioner of Income-Tax

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 109/PUN/2007[2003-04]Status: DisposedITAT Delhi28 Apr 2023AY 2003-04

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…ITA No. 109/Pun/2007 1 AND ITA.1155/Del/2009 & ITA.5067/Del/2013 AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH : ‘A’ NEW DELHI ] BEFORE Dr. B.R.R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER I.T.A. No. 109/PUN/2007 (A.Y. 2003-04) Sahara India Power ACIT, Vs. Corporation Limited, Circle : 6, Amby Valley, Sahara Lake City, Pune. Village Ambavane, Distt. Lonavala, Pune– 410401, Maharastra. PAN No. AAGCS8313P I.T.A. No. 1155/DEL/2009 (A.Y. 2004-05) Sahara India Power DCIT, Vs. Corporation Limited, Amby Valley, Cen…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 109/BANG/2022[2018-19]Status: DisposedITAT Bangalore14 Nov 2022AY 2018-19

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…ITA Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA Nos.107 to 109/Bang/2022 Assessment Year: 2016-17 to 2018-19 M/s. Trishul Buildtech & Deputy Commissioner Infrastructures Pvt. Ltd. of Income-tax No.2/55/1, Outer Ring Road Central Circle-2(2) Opp. Lumbini Garen, Veeranna Bengaluru Vs. Palya Nagavara, Bengaluru 560 045 PAN NO : AADCT3672P APPELLANT RESPONDENT Appellant by : Shri A. Shankar, Senior Advocate Responde…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 108/BANG/2022[2017-18]Status: DisposedITAT Bangalore14 Nov 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…ITA Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA Nos.107 to 109/Bang/2022 Assessment Year: 2016-17 to 2018-19 M/s. Trishul Buildtech & Deputy Commissioner Infrastructures Pvt. Ltd. of Income-tax No.2/55/1, Outer Ring Road Central Circle-2(2) Opp. Lumbini Garen, Veeranna Bengaluru Vs. Palya Nagavara, Bengaluru 560 045 PAN NO : AADCT3672P APPELLANT RESPONDENT Appellant by : Shri A. Shankar, Senior Advocate Responde…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 107/BANG/2022[2016-17]Status: DisposedITAT Bangalore14 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…ITA Nos.107 to 109/Bang/2022 M/s. Trishul Buildtech & Infrastructures Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA Nos.107 to 109/Bang/2022 Assessment Year: 2016-17 to 2018-19 M/s. Trishul Buildtech & Deputy Commissioner Infrastructures Pvt. Ltd. of Income-tax No.2/55/1, Outer Ring Road Central Circle-2(2) Opp. Lumbini Garen, Veeranna Bengaluru Vs. Palya Nagavara, Bengaluru 560 045 PAN NO : AADCT3672P APPELLANT RESPONDENT Appellant by : Shri A. Shankar, Senior Advocate Responde…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

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

ITA 544/BANG/2021[2016-17]Status: DisposedITAT Bangalore07 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos.542 to 544/Bang/2021 Assessment Year: 2014-15 to 2016-17 Sri Mathikere Ramaiah Seetharam Gokula House, ACIT M.S. Ramaiah Main Road Central Circle-2(1) Vs. Mathikere Bangalore Bangalore 560 054 PAN NO : AGDPS5886M APPELLANT RESPONDENT C.O. Nos.17 to 19/Bang/2021 (Arising out of ITA Nos.542 to 544/Bang/2021) Assessment Year: 2014-15 to 2016-17 Sri Mathiker…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

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

ITA 543/BANG/2021[2015-16]Status: DisposedITAT Bangalore07 Nov 2022AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos.542 to 544/Bang/2021 Assessment Year: 2014-15 to 2016-17 Sri Mathikere Ramaiah Seetharam Gokula House, ACIT M.S. Ramaiah Main Road Central Circle-2(1) Vs. Mathikere Bangalore Bangalore 560 054 PAN NO : AGDPS5886M APPELLANT RESPONDENT C.O. Nos.17 to 19/Bang/2021 (Arising out of ITA Nos.542 to 544/Bang/2021) Assessment Year: 2014-15 to 2016-17 Sri Mathiker…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

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

ITA 542/BANG/2021[2014-15]Status: DisposedITAT Bangalore07 Nov 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos.542 to 544/Bang/2021 Assessment Year: 2014-15 to 2016-17 Sri Mathikere Ramaiah Seetharam Gokula House, ACIT M.S. Ramaiah Main Road Central Circle-2(1) Vs. Mathikere Bangalore Bangalore 560 054 PAN NO : AGDPS5886M APPELLANT RESPONDENT C.O. Nos.17 to 19/Bang/2021 (Arising out of ITA Nos.542 to 544/Bang/2021) Assessment Year: 2014-15 to 2016-17 Sri Mathiker…

The ACIT, (OSD)Circle-8, Ahmedabad vs. Satyam Developers Ltd., Ahmedabad

In the result, the appeal of the Revenue is dismissed

ITA 2727/AHD/2011[2008-09]Status: DisposedITAT Ahmedabad05 Aug 2019AY 2008-09

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kedia

Section 145Section 145(3)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘A’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 2727/Ahd/2011 ("नधा"रण वष" / Assessment Year : 2008-09) ACIT (OSD) बनाम/ Satyam Developers Ltd. Circle-8, Ahmedabad Satyam House, B/h. Vs. Rajpath Club, S. G. Highway, Bodakdev, Ahmedabad - 380015 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAKCS9247C .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri S. K. Dev, Sr.D.R. अपीलाथ" ओर से /Appellant by : ""यथ" क" ओर से / Respondent Ms. Nupur Shah, A…

M/S Ashoka Hi-Tech Builders P. Ltd., Indore vs. The DCIT (Central)-1, Indore

In the result Ground No.1 and 2 of the assessee’s appeal for A

ITA 686/IND/2016[2013-14]Status: DisposedITAT Indore03 Aug 2018AY 2013-14

Bench: Shri Kul Bharat & Shri Manish Borad

Section 132Section 143(3)Section 145Section 153A

…ound to assess the income of the assessee on that basis. a) Decision of Gujarat High Court in the case of Manjusha Estates (P) Ltd Vs ITO reported in (2017) 393 ITR 644 . b) Decision of ITAT- Mumbai in the case of Prem Enterprises Vs. ITO reported in (2012) 25 Taxmann.com 179 (Mumbai) c) Decision of High Court of Punjab & Haryana in the case of CIT Vs. Principal Officer, Hill view Infrastructure reported in (2016) 384 ITR 451- Follows CIT Vs. Bilahari Investment (P) Ltd. reported in (2008) 299 ITR 1 (SC) Ashoka Hi-Tech Builders Pvt.Ltd ITA No.121/Ind/2016 &686/Ind/2016 d) Decision of ITAT-Mumbai in the case o…

Sohanlal M Jain, Mumbai vs. ITO 2(1), Thane

In the result appeal of the assessee in ITA no

ITA 5776/MUM/2013[2005-06]Status: DisposedITAT Mumbai27 Mar 2018AY 2005-06

Bench: Shri Mahavir Singh & Shri Ramit Kochar

For Appellant: Shri. Vimal PunamiyaFor Respondent: Shri. V. Justin (DR)
Section 143(3)Section 271(1)(c)

…आयकर अपीऱीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.5776 & 5777/Mum/2013 (नििाारण वर्ा / Assessment Year: 2005-06 & 2008-09) Shri. Sohanlal M. Jain, बिाम/ ITO 2(1), Thane D-505, Tulip, The Valley of Flower, Thakur Village, v. Kandivali(E), Mumbai- 400101 स्थायी ऱेखा सं./ PAN : AHRPJ4078M (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee by: Shri. Vimal Punamiya Revenue by : Shri. V. Justin (DR) सुनवाई की तारीख /Date of Hearing : 28-02-2018 घोषणा…