What is Shri Ramalinga ChoodambikaMills Ltd. v. CIT authority for?

The Income Tax Department cannot assess the difference between the market price and the actual sale price as profit if sales are bona fide and not sham, even if goods are sold at a concessional rate.

How many judgments cite Shri Ramalinga ChoodambikaMills Ltd. v. CIT?

31 judgments on BharatTax cite Shri Ramalinga ChoodambikaMills Ltd. v. CIT (28 ITR 952), spanning 2011 to 2026.

Which sections of the Income Tax Act does Shri Ramalinga ChoodambikaMills Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 142(1), Section 143(1), Section 143(2), Section 145, Section 48, Section 69B.

Shri Ramalinga ChoodambikaMills Ltd. v. CIT (28 ITR 952)

ITO, NEW DELHI vs. SMT. SUDHARSHNA ARORA, NEW DELHI

In the result, grounds raised by the revenue are dismissed

ITA 1185/DEL/2010[2004-05]Status: DisposedITAT Delhi13 Mar 2026AY 2004-05

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumarita No.1185 /Del./2010, A.Y. 2004-05 Ito, Vs Smt. Sudharshna Arora Ward-24(4), . B-6/9, Vasant Vihar, New Delhi New Delhi Pan: Aaepa8154H (Appellant) (Respondent)

Section 143(1)Section 143(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI SUDHIR KUMAR, JUDICIAL MEMBER ITA No.1185 /Del./2010, A.Y. 2004-05 ITO, Vs Smt. Sudharshna Arora Ward-24(4), . B-6/9, Vasant Vihar, New Delhi New Delhi PAN: AAEPA8154H (Appellant) (Respondent) CO No.157/Del/2016 (in ITA No.1185/Del/2016) (Assessment Year: 2004-05) Smt. Sudharshna Arora Vs. ITO, B-6/9, Vasant Vihar, Ward-24(4), New Delhi New Delhi PAN: AAEPA8154H (Appellant) (Respondent) Assessee by Shri Vinod Gupta, CA Revenue by Ms. Harpreet Kaur Hansra, Sr. DR Date of Hearing 08/01/20…

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, PANAJI vs. M/S SALITHO ORES PVT. LTD, PANAJI

In the result, appeal of the assessee is allowed

ITA 99/PAN/2018[2012-13]Status: DisposedITAT Panaji21 Sept 2023AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing) M/S. Salitho Ores Pvt. Ltd., Vs Acit, Circle-1, Salgaocar Bhavan, Altinho, Margao Panaji, Goa. Pan: Aabcs 8859 F Appellant Respondent

For Appellant: Shri P.J. Pardiwalla, CAFor Respondent: Shri Prabhakar Anand DJ, DR

Section 43B

…oncern. In fact, the Hon'ble Supreme Court in the case of Calcutta Discount Company Ltd. (supra) M/s.Salitho Ores Pvt. Ltd. has observed as follows:- “15. Several decades back the Madras High Court in the case of Sri Ramalinga Choodambikai Mills v. CIT [1955] 28 ITR 952 held that in the absence of any evidence to show either that the sales were sham transactions or that the market prices were in fact paid by the purchasers, the mere fact that goods were sold at a concessional rate would not entitle the income tax department to assess the difference between the market price and the price paid by the purchaser as p…

M/S SALITHO ORES PRIVATE LIMITED,PANAJI vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE - M1, MARGAO

In the result, appeal of the assessee is allowed

ITA 72/PAN/2018[2014-15]Status: DisposedITAT Panaji21 Sept 2023AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing) M/S. Salitho Ores Pvt. Ltd., Vs Acit, Circle-1, Salgaocar Bhavan, Altinho, Margao Panaji, Goa. Pan: Aabcs 8859 F Appellant Respondent

For Appellant: Shri P.J. Pardiwalla, CAFor Respondent: Shri Prabhakar Anand DJ, DR

Section 43B

…oncern. In fact, the Hon'ble Supreme Court in the case of Calcutta Discount Company Ltd. (supra) M/s.Salitho Ores Pvt. Ltd. has observed as follows:- “15. Several decades back the Madras High Court in the case of Sri Ramalinga Choodambikai Mills v. CIT [1955] 28 ITR 952 held that in the absence of any evidence to show either that the sales were sham transactions or that the market prices were in fact paid by the purchasers, the mere fact that goods were sold at a concessional rate would not entitle the income tax department to assess the difference between the market price and the price paid by the purchaser as p…

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, PANAJI vs. M/S SALITHO ORES PVT. LTD, PANAJI

In the result, appeal of the assessee is allowed

ITA 100/PAN/2018[2013-14]Status: DisposedITAT Panaji21 Sept 2023AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing) M/S. Salitho Ores Pvt. Ltd., Vs Acit, Circle-1, Salgaocar Bhavan, Altinho, Margao Panaji, Goa. Pan: Aabcs 8859 F Appellant Respondent

For Appellant: Shri P.J. Pardiwalla, CAFor Respondent: Shri Prabhakar Anand DJ, DR

Section 43B

…oncern. In fact, the Hon'ble Supreme Court in the case of Calcutta Discount Company Ltd. (supra) M/s.Salitho Ores Pvt. Ltd. has observed as follows:- “15. Several decades back the Madras High Court in the case of Sri Ramalinga Choodambikai Mills v. CIT [1955] 28 ITR 952 held that in the absence of any evidence to show either that the sales were sham transactions or that the market prices were in fact paid by the purchasers, the mere fact that goods were sold at a concessional rate would not entitle the income tax department to assess the difference between the market price and the price paid by the purchaser as p…

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. WESTERN CONSTRUCTIONS, HYDERABAD

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

ITA 1320/HYD/2019[2016-17]Status: DisposedITAT Hyderabad14 Oct 2022AY 2016-17

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2016-17 Acit,Cc-3(2) Vs. Western Constructions 7Th Floor 8D, 8Th Floor Aaykar Bhawan Western Pearl Hyderabad-500 001 Sy.No.13(P), Kondapur Hyderabad-500 084

For Appellant: Shri K.C.Devdas, CAFor Respondent: Shri P.Chandrasekhar, CIT-DR

Section 132Section 132(4)Section 153A

…nt Co.Ltd. reported in 91 ITR 08 (SC) ii. CIT vs. A.Raman & Co. reported 67 ITR 11 (SC) iii.CIT vs. S.M.Aggarwal reported in 293 ITR 42 (Del.HC) iv.CIT vs. Vatika Landbase (P) Ltd. reported in 383 ITR 320 (Del.HC) v.Choodambikai Mills Ltd. vs. CIT reported in 28 ITR 952 (Madrs.HC) vi. Nishant Construction Pvt.Ltd. vs. ACIT in ITA No.1502/Ahd/2015 order dated 14.02.2017 (Ahd.Trib.) vii. CIT vs. President Industries reported in 258 ITR 654(Guj.HC) viii. CIT vs Balchand Ajit Kumar reported in 263 ITR 610(MP.HC) 12. In his alternate contention, he submitted that the matter may be restored to the file of the AO with…

SHRI KAMLESH JAYANTILAL JHAVERI,,AHMEDABAD vs. INCOME TAX OFFICER,, AHMEDABAD

In the result, the appeal of the assessee is allowed

ITA 1077/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad07 Sept 2022AY 2010-11

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2010-11 Shri Kamlesh Jayantilal Jhaveri, Income Tax Officer, B/201, Siddh Silla Apartment, Vs Ward 10(1), B/H. Ekta Tower, Barrage Road, Ahmedabad Vasna, Ahmedabad Pan : Aetpj 5973 L (Appellant) (Respondent) Assessee By : Shri Aseem Thakkar, Ar Revenue By : Shri Vijay Kumar, Jaiswal, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 04/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 07/09/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-: This Appeal Filed By The Assessee Is Directed Against The Order Of Learned Commissioner Of Income-Tax (Appeals), Ahmedabad-5 [“Cit(A) In Short]” Dated 26.02.2015; And, The Solitary Issue Involved Therein Relates To The Addition Made By The Assessing Officer & Confirmed By The Learned Cit(A) On Account Of Disallowance Of Assessee’S Claim For Loss Of Rs.12.64 Crores.

For Appellant: Shri Aseem Thakkar, ARFor Respondent: Shri Vijay Kumar, Jaiswal, CIT-DR

Section 145Section 145(2)

…ed, to ascertain the profit from the transaction. An assessee can so arrange his affairs as to minimise his tax burden." Hegde J., after noting the decision of the Madras High Court in Sri Ramalinga Choodambikai Mills Lid. v. Commissioner of Income-tax (1955) 28 ITR 952 (Mad) and the earlier decision of the Supreme Court in Commissioner of Income-tax v. A. Raman & Company ' TR 11 (SC) observed at page 13 of [1973] 91 ITR 8 (SC): "But the law does not oblige a trader to make the maximum pro fit that he can out of his trading transactions. Income which accrues to a trader Shri Kamlesh Jayantilal Jhaveri Vs. ITO AY…

SHRI KAMLESH J. JHAVERI,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD 10(1), AHMEDABAD

In the result, the appeal of the assessee is partly allowed for the statistical purposes

ITA 1254/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad06 Aug 2021AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No.1254/Ahd/2016 नि◌धा"रण वष"/Asstt. Year: 2011-2012 Shri Kamlesh J. Jhaveri, Income Tax Officer, B/201, Siddh Silla Apartment, Vs. Ward-10(1), B/H. Ekta Tower, Ahmedabad. Barage Road, Vasna, Ahmedabad-380007. Pan: Aetpj5973L

For Appellant: Shri Asseem Thakkar, A.RFor Respondent: Shri S.S. Shukla, Sr.D.R

Section 145(3)

…ction. An assessee can so arrange his affairs as to minimise his tax burden." ITA No. 1420/Ahd/2013 Asst. Year 2009-10 18 Hegde J., after notingthe decision of the Madras High Court in Sri Ramalinga Choodambikai Mills Lid. v. Commissioner of Income-tax (1955) 28 ITR 952 (Mad) and the earlier decision of the Supreme Court in Commissioner of Income-tax v. A. Raman & Company ' TR 11 (SC) observed at page 13 of [1973] 91 ITR 8 (SC): “But the law does not oblige a trader to make the maximum pro fit that he can out of his trading transactions. Income which accrues to a trader taxable in his hands: income which he could…

DCIT, NEW DELHI vs. M/S. ET INFRA DEVELOPERS PVT. LTD., NEW DELHI

In the result, appeal filed by the Revenue is dismissed and the Cross Objection filed by the assessee is partly allowed

ITA 3563/DEL/2016[2011-12]Status: DisposedITAT Delhi28 Jul 2021AY 2011-12

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2011-12] Dy. Commissioner Of Income M/S Et Infra Developers Pvt. Tax, Ltd. Central Circle-28, Room E-9, Panchsheel Park, No.317, Ara Centre, New Delhi-110017 Jhandewalan, New Delhi-110055 Pan-Aacce3646D Revenue Assessee Cross Objection No.277/Del/2016 (Arising Out Of Ita No.3563/Del/2016) [Assessment Year: 2011-12] M/S Et Infra Developers Pvt. Dy. Commissioner Of Income Ltd. Tax, E-9, Panchsheel Park, Central Circle-28, Room New Delhi-110017 No.317, Ara Centre, Jhandewalan, New Delhi-110055 Pan-Aacce3646D Assessee Revenue Revenue By Sh. Satpal Gulati Cit-Dr Assessee By Sh. M.P. Rastogi, Advocate

Section 132Section 153A

…elied on the following decisions:- CO.277/Del/2016 1. CIT v. Raman & Co. (1968) 67 ITR 11 (SC) 2. Commissioner of Income-tax v. Calcutta Discount Company Ltd. [1973] 91 ITR 8 (SC) 3. Sri Ramalinga Choodambikai Mills Ltd. v. Commissioner of Income-tax [1955] 28 ITR 952 (Mad) 4. S. Sivan Pillai vs Commissioner Of Income-Tax (1958) 34 ITR 328 (Mad) 14.1 As far as page 10 of Annexure A-24/D-7 is concerned, the ld. Counsel for the assessee submitted that the assessee has explained that it reveals the area of flat and unit Nos.617 and 618. Unit No. 617 was sold to Mr Sudhir Goel on 17* November 2010 and unit No. 61…

PRAKASH TRADELINK PVT. LTD.,,AHMEDABAD vs. THE ITO, WARD-3(1)(4)., AHMEDABAD

In the results, appeal of the assessee is dismissed

ITA 2119/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad12 Feb 2020AY 2013-14

Bench: Shri Rajpal Yadav, Vice-आयकर अपील सं./ Ita.No.2119/Ahd/2017 "नधा"रण वष"/ Asstt. Year: 2013-2014 Prakash Tradelink P Ltd Ito, Ward-3(1)(4) 264, 2Nd Floor Ahmedabad. Vs Gunj Bazar O/S Delhi Gate Madhupura, Ahmedabad. अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri K.P. Shah, Ar Revenue By : Shri Dilip Kumar, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 06/02/2020 घोषणा क" तार"ख /Date Of Pronouncement: 12/02/2020 आदेश/O R D E R

For Appellant: Shri K.P. Shah, ARFor Respondent: Shri Dilip Kumar, Sr.DR

Section 143(1)Section 143(2)Section 145

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT आयकर अपील सं./ ITA.No.2119/Ahd/2017 "नधा"रण वष"/ Asstt. Year: 2013-2014 Prakash Tradelink P Ltd ITO, Ward-3(1)(4) 264, 2nd Floor Ahmedabad. Vs Gunj Bazar O/s Delhi Gate Madhupura, Ahmedabad. अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri K.P. Shah, AR Revenue by : Shri Dilip Kumar, Sr.DR सुनवाई क" तार"ख/Date of Hearing : 06/02/2020 घोषणा क" तार"ख /Date of Pronouncement: 12/02/2020 आदेश/O R D E R Assessee is in appeal before the Tribunal against orde…