Sumer Builders (P) Ltd. v. CIT

50 SOT 198Income Tax Appellate Tribunal2012#10925 most cited
10

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2023.

Judgments citing Sumer Builders (P) Ltd. v. CIT

EVEREST INDUSTRIES LTD. ,NOIDA vs. DY CIT CIRCLE- 1 , THANE

In the result, the appeal of the Revenue is dismissed whereas

ITA 717/MUM/2020[2006-07]Status: DisposedITAT Mumbai21 Aug 2023AY 2006-07

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2006-07 Everest Industries Ltd., Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- Vs. 201301, Uttar Pradesh, India. Wing 16-Z, Wagle Industrial Estate, Thane (W)-400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2006-07 Dcit, Circle-1, Everest Industries Ltd., Ashar I.T. Park, 6Th Floor, B- G-1, A-32, Genesis Mohan Vs. Wing 16-Z, Wagle Industrial Coop. Industries, Mathura Estate, Thane (W)-400 604. Road, New Delhi-110044. Pan No. Aaace 7550 N Appellant Respondent

For Appellant: Mr. Yogesh Thar a/w Mr. Chaitanya JoshiFor Respondent: Mr. Alok Kumar, CIT-DR

…Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd Rain Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd-Trib- SB) and decision of ITAT in the case of Sumer Builder SB) and decision of ITAT in the case of Sumer Builder SB) and decision of ITAT in the case of Sumer Builder 50 SOT 198 (Mumbai 50 SOT 198 (Mumbai -Trib). He accordingly rejected the Trib). He accordingly rejected the claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales- tax incentive tax incentive for the purpose of computation of the book for the purpose o…

DCIT, CIRCLE-1 ,, THANE vs. EVEREST INDUSTRIES LTD., MUMBAI

In the result, the appeal of the Revenue is dismissed whereas

ITA 1421/MUM/2020[2006-07]Status: DisposedITAT Mumbai21 Aug 2023AY 2006-07

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2006-07 Everest Industries Ltd., Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- Vs. 201301, Uttar Pradesh, India. Wing 16-Z, Wagle Industrial Estate, Thane (W)-400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2006-07 Dcit, Circle-1, Everest Industries Ltd., Ashar I.T. Park, 6Th Floor, B- G-1, A-32, Genesis Mohan Vs. Wing 16-Z, Wagle Industrial Coop. Industries, Mathura Estate, Thane (W)-400 604. Road, New Delhi-110044. Pan No. Aaace 7550 N Appellant Respondent

For Appellant: Mr. Yogesh Thar a/w Mr. Chaitanya JoshiFor Respondent: Mr. Alok Kumar, CIT-DR

…Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd Rain Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd-Trib- SB) and decision of ITAT in the case of Sumer Builder SB) and decision of ITAT in the case of Sumer Builder SB) and decision of ITAT in the case of Sumer Builder 50 SOT 198 (Mumbai 50 SOT 198 (Mumbai -Trib). He accordingly rejected the Trib). He accordingly rejected the claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales- tax incentive tax incentive for the purpose of computation of the book for the purpose o…

EVEREST INDUSTRIES LTD.,NOIDA vs. DY CIT CIRCLE- 1, THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 715/MUM/2020[2008-09]Status: DisposedITAT Mumbai31 Jan 2023AY 2008-09

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…h of pecial bench of Tribunal, Hyderabad in the case of Hyderabad in the case of Rain Commodities Vs DCIT 4 ITR (Trib.) Rain Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd-Trib-SB) and decision of ITAT in the case and decision of ITAT in the case of Sumer Builder 50 SOT 198 ( Builder 50 SOT 198 (Mumbai -Trib). He accordingly rejected the Trib). He accordingly rejected the claim of the assessee of reducing the amount of sales-tax incentive claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales for the purpose of computation of the book profit. for the purpose of com…

DCIT CIRCLE-1 , THANE vs. M/S EVEREST INDUSTRIES LTD. , DELHI

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 654/MUM/2020[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…h of pecial bench of Tribunal, Hyderabad in the case of Hyderabad in the case of Rain Commodities Vs DCIT 4 ITR (Trib.) Rain Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd-Trib-SB) and decision of ITAT in the case and decision of ITAT in the case of Sumer Builder 50 SOT 198 ( Builder 50 SOT 198 (Mumbai -Trib). He accordingly rejected the Trib). He accordingly rejected the claim of the assessee of reducing the amount of sales-tax incentive claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales for the purpose of computation of the book profit. for the purpose of com…

DCIT CIRCLE-1 , THANE vs. M/S EVEREST INDUSTRIES LTD. , DELHI

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 653/MUM/2020[2013-14]Status: DisposedITAT Mumbai31 Jan 2023AY 2013-14

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…h of pecial bench of Tribunal, Hyderabad in the case of Hyderabad in the case of Rain Commodities Vs DCIT 4 ITR (Trib.) Rain Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd-Trib-SB) and decision of ITAT in the case and decision of ITAT in the case of Sumer Builder 50 SOT 198 ( Builder 50 SOT 198 (Mumbai -Trib). He accordingly rejected the Trib). He accordingly rejected the claim of the assessee of reducing the amount of sales-tax incentive claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales for the purpose of computation of the book profit. for the purpose of com…

DCIT, CIRCLE-1 ,, THANE vs. EVEREST INDUSTRIES LTD., MUMBAI

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 1423/MUM/2020[2008-09]Status: DisposedITAT Mumbai31 Jan 2023AY 2008-09

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…h of pecial bench of Tribunal, Hyderabad in the case of Hyderabad in the case of Rain Commodities Vs DCIT 4 ITR (Trib.) Rain Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd-Trib-SB) and decision of ITAT in the case and decision of ITAT in the case of Sumer Builder 50 SOT 198 ( Builder 50 SOT 198 (Mumbai -Trib). He accordingly rejected the Trib). He accordingly rejected the claim of the assessee of reducing the amount of sales-tax incentive claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales for the purpose of computation of the book profit. for the purpose of com…

EVEREST INDUSTRIES LTD, NOIDA vs. DY CIT CIRLCE-1 , THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 7794/MUM/2019[2013-14]Status: DisposedITAT Mumbai31 Jan 2023AY 2013-14

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…h of pecial bench of Tribunal, Hyderabad in the case of Hyderabad in the case of Rain Commodities Vs DCIT 4 ITR (Trib.) Rain Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd-Trib-SB) and decision of ITAT in the case and decision of ITAT in the case of Sumer Builder 50 SOT 198 ( Builder 50 SOT 198 (Mumbai -Trib). He accordingly rejected the Trib). He accordingly rejected the claim of the assessee of reducing the amount of sales-tax incentive claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales for the purpose of computation of the book profit. for the purpose of com…

EVEREST INDUSTRIES LTD,NOIDA vs. DY CIT CIRLCE-1, THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 7793/MUM/2019[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…h of pecial bench of Tribunal, Hyderabad in the case of Hyderabad in the case of Rain Commodities Vs DCIT 4 ITR (Trib.) Rain Commodities Vs DCIT 4 ITR (Trib.) 551 (Hyd-Trib-SB) and decision of ITAT in the case and decision of ITAT in the case of Sumer Builder 50 SOT 198 ( Builder 50 SOT 198 (Mumbai -Trib). He accordingly rejected the Trib). He accordingly rejected the claim of the assessee of reducing the amount of sales-tax incentive claim of the assessee of reducing the amount of sales claim of the assessee of reducing the amount of sales for the purpose of computation of the book profit. for the purpose of com…

M/S. ANDHRA TRADE DEVELOPMENT - CORPORATION, PVT.LTD.,GUNTUR vs. THE ACIT,, GUNTUR

ITA 233/VIZ/2017[2013-2014]Status: DisposedITAT Visakhapatnam12 Dec 2018AY 2013-2014

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.233/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2013-2014) M/S Andhra Trade Development The Assistant Commissioner Corporation Pvt. Ltd., Of Income-Tax, Circle-1(1) Guntur Guntur [Pan : Aabca8777C] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यार्थी की ओर से/ Respondent By : Shri D.K.Sonowal, Cit Dr

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.K.Sonowal, CIT DR
Section 115Section 115JSection 33ASection 74

…y for the purpose of calculating Minimum A1ternate Tax(MAT) under the provisions of Sec.115JB of the Income Tax Act, 1961.Therefore, the AO rejected the claim of the assessee on this ground and relied on the decisions of Sumer Builders (P) Ltd. Vs. CIT (2012) 50 SOT 198 Mumbai and the Special Bench decision of ITAT in the case of Rain Commodities Ltd. Vs. CIT [2010] 40 SOT 265 and held that the assessee is not permitted 7 I.T.A. No.233/Viz/2017 Andhra Trade Development Corporation, Guntur to take the profit derived by sale of profits directly to the balance sheet and is required to be credited to the Profit & L…

BHUPATI INVESTMENTS & FINANCE P. LTD,MUMBAI vs. ITO 5(1)(2), MUMBAI

ITA 6291/MUM/2010[2006-07]Status: DisposedITAT Mumbai04 Aug 2017AY 2006-07

Bench: Shri Rajendra & Shri C.N. Prasadbhupati Investments & Finances Pvt Ltd V. Income Tax Officer B-34/35, 3Rd Floor 5(1)(2) Paragon Condominium Aayakar Bhavan P.B. Marg, Room No.525/570 Worli M.K.Road Mumbai 400 001 Mumbai 400 020 Pan : Aaacb 0441 P (Appellant) (Respondent) Bhupati Investments & Finances Pvt Ltd V. Acit – 5(1) B-34/35, 3Rd Floor Room No.525/570 Paragon Condominium Aayakar Bhavan P.B. Marg, M.K.Road Worli Mumbai 400 020 Mumbai 400 001 Pan : Aaacb 0441 P (Appellant) (Respondent) Assessee By: Shri Nitesh Joshi

For Appellant: Shri Nitesh JoshiFor Respondent: Shri Arju Garodia
Section 143(1)Section 143(3)Section 14ASection 45

…as within the power of AO to go into the accounts prepared by the assessee under the Companies Act and re-cast the accounts in case the same was not prepared correctly. He placed reliance on the decision of the Tribunal in the case of Sumer Builders (P) Ltd. (50 SOT 198) in which the Tribunal after considering the judgment of the Hon'ble Supreme Court in case of 9 ITA.No.5174/Mum/2012 (A.Y. 2009-10) Bhupati Investments & Finances Pvt Ltd Apollo Tyres (supra) and the judgment of Hon’ble High Court of Bombay in case of CIT vs. Akshay Textiles Trading And Agencies P. Ltd. (supra), had upheld the adjustment made by t…