Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. v. Income Tax Officer

397 ITR 462High Court2017#15779 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2021 to 2024.

Issues it is cited on

section 10(1)section 28(iv)section 194cinterest under section 234asearch assessmentsatisfaction notesection 40(a)(ia)agricultural incomesection 132aregular assessmentsection 254section 56

Judgments citing Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. v. Income Tax Officer

Santhimadam Agrofarm Trust, Kochi vs. The ACIT Central Circle 2, Kochi

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

ITA 223/COCH/2023[2008-09]Status: DisposedITAT Cochin06 Aug 2024AY 2008-09

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Shri Mathew Joseph, CAFor Respondent: Shri Ilaiyaraja K.S., Sr. DR
Section 132Section 142(1)Section 153CSection 194CSection 234ASection 40Section 68Section 69

…mmon sense, rather than mechanically following the entries in the books of account. The decision of the Hon'ble Supreme Court in the case of CIT Vs. T.V. Sundaram lyengar & Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. Vs. Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. Vs. ACIT (412 ITR 208) are few of such examples where the Courts have held that in taxing a receipt, the actual nature of transactions have to be considered over the entries made in the books of accounts. In the present case, though the receipt is entered as an advance in the books of amount so rec…

Santhimadam Agrofarm Trust, Kochi vs. The ACIT Central Circle 2, Kochi

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

ITA 222/COCH/2023[2007-08]Status: DisposedITAT Cochin06 Aug 2024AY 2007-08

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Shri Mathew Joseph, CAFor Respondent: Shri Ilaiyaraja K.S., Sr. DR
Section 132Section 142(1)Section 153CSection 194CSection 234ASection 40Section 68Section 69

…mmon sense, rather than mechanically following the entries in the books of account. The decision of the Hon'ble Supreme Court in the case of CIT Vs. T.V. Sundaram lyengar & Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. Vs. Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. Vs. ACIT (412 ITR 208) are few of such examples where the Courts have held that in taxing a receipt, the actual nature of transactions have to be considered over the entries made in the books of accounts. In the present case, though the receipt is entered as an advance in the books of amount so rec…

Santhimadam Agrofarm Trust, Kochi vs. The ACIT Central Circle 2, Kochi

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

ITA 221/COCH/2023[2006-07]Status: DisposedITAT Cochin06 Aug 2024AY 2006-07

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Shri Mathew Joseph, CAFor Respondent: Shri Ilaiyaraja K.S., Sr. DR
Section 132Section 142(1)Section 153CSection 194CSection 234ASection 40Section 68Section 69

…mmon sense, rather than mechanically following the entries in the books of account. The decision of the Hon'ble Supreme Court in the case of CIT Vs. T.V. Sundaram lyengar & Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. Vs. Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. Vs. ACIT (412 ITR 208) are few of such examples where the Courts have held that in taxing a receipt, the actual nature of transactions have to be considered over the entries made in the books of accounts. In the present case, though the receipt is entered as an advance in the books of amount so rec…

Santhimadam Agrofarm Trust, Kochi vs. The ACIT Central Circle 2, Kochi

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

ITA 220/COCH/2023[2005-06]Status: DisposedITAT Cochin06 Aug 2024AY 2005-06

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Shri Mathew Joseph, CAFor Respondent: Shri Ilaiyaraja K.S., Sr. DR
Section 132Section 142(1)Section 153CSection 194CSection 234ASection 40Section 68Section 69

…mmon sense, rather than mechanically following the entries in the books of account. The decision of the Hon'ble Supreme Court in the case of CIT Vs. T.V. Sundaram lyengar & Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. Vs. Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. Vs. ACIT (412 ITR 208) are few of such examples where the Courts have held that in taxing a receipt, the actual nature of transactions have to be considered over the entries made in the books of accounts. In the present case, though the receipt is entered as an advance in the books of amount so rec…

Principal Commissioner of Income Tax-12, Kolkata vs. M/S.Soorajmull Nagarmull

In the result, the appeal is dismissed and the substantial questions of

ITAT/46/2020HC Calcutta23 Nov 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 148Section 260ASection 41Section 41(1)

…s with regard to the claim or with response to the deposited amount. The said decision is also factually distinguishing. Reliance was also placed by the revenue on the 9 (2002) 3 SCC 684 10 (2017) 397 ITR 462 (Guj) ITAT NO. 46 OF 2020 REPORTABLE Page 13 of 22 decision in the case of Jay Engineering Works Limited Versus Commissioner of Income Tax 11. In our considered view, the decision in the c…

M/S Hothur Traders, Bellary vs. The Assistant Commissioner of Income Tax Circle-1, Bellary

In the result, the appeal by the assessee is dismissed

ITA 541/BANG/2019[2011-12]Status: DisposedITAT Bangalore25 Mar 2021AY 2011-12

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2011-12 M/S. Hothur Traders, Vs. The Assistant Commissioner Plot Nos. 5, 6, 7 & 8, Of Income Tax, “Hothur House”, Infantry Road, Circle 1, Cantonment, Fort Road, Bellary – 583 104. Bellary – 583 102. Pan: Aaefh 7705H Appellant Respondent

For Appellant: Shri Shiva Prasad Reddy, IRSFor Respondent: Shri Kannan Narayanan, Jt.CIT(DR)(ITAT), Bengaluru
Section 10BSection 143(1)Section 143(3)Section 147Section 148Section 41(1)

…g any of these years, even upto now, absolutely justified Assessing Authority to draw an adverse inference against assessee about cessation of liability - Held, yes [Paras 29 and 31] [In favour of revenue]” 15. Further, in Gujtron Electronics (P) Ltd. v. ITO, 397 ITR 462 (Guj) it was held as under:- “Section 41(1) of the Income-tax Act, 1961 - Remission or cessation of trading liability (Customer advances) - Assessment year 2012-2013 - Under a sales promotion scheme launched during financial year 1986-87, assessee company collected a sum of Rs 500 from each of its customer by sale of coupons - Assessee collected…

Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. v. Income Tax Officer (397 ITR 462) — Cited in 6 Judgments | BharatTax