Sundram and Co Ltd. v. Commissioner Of Income Tax, Madras

36 ITR 162High Court1959#24648 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2021.

Judgments citing Sundram and Co Ltd. v. Commissioner Of Income Tax, Madras

M/S Ekta Housing Pvt. Ltd., Mumbai vs. Dy. CIT Central Circle-6(2), Mumbai

The appeal of the revenue is dismissed

ITA 1732/MUM/2019[2013-14]Status: DisposedITAT Mumbai24 May 2021AY 2013-14

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood ()

…ght about, a prejudice or detriment might be caused to the revenue, because the opening stock was valued at total cost while closing stock was valued at direct cost.” In fact, the Hon‟ble High Court of Madras in the case of Sundaram & Co. Ltd. Vs. CIT (1959) 36 ITR 162 (Mad) had observed that the Page 36 fact that the method has been employed regularly may, for the first year of accounts, be proved by showing the regularity from accounts of subsequent years. In the backdrop of the aforesaid factsr.w the settled position of law, we are of the considered view that the CIT(A) had grossly erred in failing to apprec…

M/S. Gl Litmus Events Pvt. Ltd., New Delhi vs. ACIT, New Delhi

The appeal of the assessee is partly allowed

ITA 2682/DEL/2017[2012-13]Status: DisposedITAT Delhi17 Jan 2020AY 2012-13

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastavam/S.Gl Litmus Events Pvt. Vs. Acit Ltd. Central Circle-17, B-90, Second Floor, Room No. 356, Vishwakarma Colony Ara Centre, New Delhi – 110 044 Jhandewalan Extension Pan Aadcg6909N New Delhi – 110 055 (Appellant) (Respondent) Asstt. Year: 2012-13

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri Raghunath, Sr. DR
Section 145(3)Section 234ASection 234BSection 250(6)Section 271(1)(c)

…cash basis of accounting, right from the commencement of its commercial operation and thereafter is preparing the same on cash basis. Such issue arose before the honourable mother High Court in Sundram and Co Ltd vs. Commissioner Of Income Tax, Madras (1959) 36 ITR 162 (Mad) wherein it has been held 8 page number 167 – 168 as under: “Apparently the tribunal accepted the contention of the assessee, that though the accounts related to the 1st accounting period of its activities, it was a system of accounting “regularly employed” within the meaning of section 13 of the act, though there was no such express finding…

M/S. Gl Litmus Events Pvt. Ltd., New Delhi vs. ACIT, New Delhi

Appeal of the assessee is partly allowed

ITA 2502/DEL/2015[2011-12]Status: DisposedITAT Delhi01 Jul 2019AY 2011-12

Bench: Shri Prashant Maharishi & Shri K. N. Charygl Litmus Events Pvt. Ltd, The Assistant Commissioner Vs. B-90, Second Floor, Of Income Tax Vishwakarma Colony, New Delhi Central Circle-7, New Delhi Pan: Aadcg6909N (Appellant) (Respondent)

For Appellant: Shri S. K. Tulsiyan, AdvFor Respondent: Shri Sanjay I Bara, CIT DR
Section 143Section 144CSection 153ASection 292CSection 37Section 69Section 92C

…cash basis of accounting, right from the commencement of its commercial operation and thereafter is preparing the same on cash basis. Such issue arose before the honourable mother High Court in Sundram and Co Ltd vs. Commissioner Of Income Tax, Madras (1959) 36 ITR 162 (Mad) wherein it has been held 8 page number 167 – 168 as under: “Apparently the tribunal accepted the contention of the assessee, that though the accounts related to the 1st accounting period of its activities, it was a system of accounting “regularly employed” within the meaning of section 13 of the act, though there was no such express finding.…

Sundram and Co Ltd. v. Commissioner Of Income Tax, Madras (36 ITR 162) — Cited in 3 Judgments | BharatTax