Raghunath Prasad Poddar v. CIT

90 ITR 140Supreme Court of India1973#9924 most cited

What is Raghunath Prasad Poddar v. CIT authority for?

A transaction is not speculative if actual delivery of goods is effected. The outcome of a speculative transaction depends on whether the contract is performed.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2023.

Also referred to as

Raghunath Prasad Poddar v. CIT · section 43(5) · speculative transaction · actual delivery of goods · settlement of contract · business income

Issues it is cited on

section 24(1)section 43(5)speculative transactionsection 80hsection 80hhcsection 80hhfurnishing inaccurate particularsrule 46asection 28section 250(6)section 24section 43

Judgments citing Raghunath Prasad Poddar v. CIT

Measage Gurdas Agro Private Limited, Bathinda vs. Deputy Commissioner of Income Tax Circle- 1, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 517/ASR/2019[2016-17]Status: DisposedITAT Amritsar24 May 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Shri Gurdas Garg, Bathinda vs. Deputy Commissioner of Income Tax Circle- 1, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 516/ASR/2019[2016-17]Status: DisposedITAT Amritsar24 May 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Deputy Commissioner of Income Tax Circle-1, Bathinda vs. Measage Gurdas Agro Private Limited, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 510/ASR/2019[2016-17]Status: DisposedITAT Amritsar24 May 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Deputy Commissioner of Income Tax Circle- 1, Bathinda vs. Shri Gurdas Garg, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 508/ASR/2019[2016-17]Status: DisposedITAT Amritsar24 May 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Deputy Commissioner of Income Tax Circle-1, Bathinda vs. Shri Gurdas Garg, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 507/ASR/2019[2013-14]Status: DisposedITAT Amritsar24 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Deputy Commissioner of Income Tax Circle- 1, Bathinda vs. Measage G. G Continental Traders Private Limited, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 506/ASR/2019[2013-14]Status: DisposedITAT Amritsar24 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Deputy Commissioner of Income Tax Circle-1, Bathinda vs. Measage G.G.Oils and Faits Private Limited, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 505/ASR/2019[2013-14]Status: DisposedITAT Amritsar24 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Shri Gurdas Garg, Bathinda vs. Deputy Commissioner of Income Tax Circle-1, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 498/ASR/2019[2013-14]Status: DisposedITAT Amritsar24 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Measage G. G. Continental Traders Private Limited, Bathinda vs. Deputy Commissioner of Income Tax Circle-1, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 495/ASR/2019[2013-14]Status: DisposedITAT Amritsar24 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

Measage G. G. Oils and Fats Private Limited, Bathinda vs. Deputy Commissioner of Income Tax Circle- 1, Bathinda

In the result, all the appeals of the revenue are dismissed and all the appeals

ITA 494/ASR/2019[2013-14]Status: DisposedITAT Amritsar24 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 250(6)

…ons". It seems to us that the High Court is right in having regard to the law laid down by this Court in Davenport & Co. Pvt. Ltd. v. CIT [1975] 100 ITR 715. It is urged on behalf of the assessee that the case falls under Raghunath Prasad Poddar v. CIT [1973] 90 ITR 140. But that decision has been overruled by this Court in Davenport & Co. Pvt. Ltd., ( supra), and in any event no question of invoking that decision arises because in the present case there has never been any suggestion that actual delivery of goods was ultimately effected. The case of the assessee throughout has been that handing over the delivery…

C. Bharat Kumar, Bangalore vs. ITO, Bangalore

In the result, the appeal filed by the assessee is allowed

ITA 123/BANG/2012[2001-02]Status: DisposedITAT Bangalore08 Jan 2016AY 2001-02

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri H.N.Khincha, CAFor Respondent: Shri Nambirajan, JCIT
Section 143(3)Section 43(5)

…. CIT Vs Puttaiah Seshaiah& Co. (1984) 146 ITR 168 (AP) b. CIT Vs Shantilal Pvt.Ltd (1983) 144 ITR 57(SC) c. Davenport & Co.Pvt.Ltd Vs CIT (1975) 100 ITR 715 (SC) d. Jute Investment Co.Ltd. Vs CIT (1980) 121 ITR 56 (SC) e.Raghunath Prasad Poddar Vs CIT (1973) 90 ITR 140(SC) f. Sind National Sugar Mills Pvt. Ltd Vs CIT (1980) 121 ITR 742(Bom.) and its earlier decisions in the case of CIT Vs Puttaiah Seshaiah & Co. (1984) 146 ITR 168 (AP) 146 ITR 168 held as follows; “After considering the definition of ‘speculative transaction’ contained in clause(5) of section 43, it was observed that the law and spoken of a s…

Raghunath Prasad Poddar v. CIT (90 ITR 140) — Cited in 11 Judgments | BharatTax