Wall Street Construction Ltd. v. DCIT

87 ITD 47Income Tax Appellate Tribunal#25774 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2015 to 2017.

Judgments citing Wall Street Construction Ltd. v. DCIT

DCIT Cir 29(3), Mumbai vs. Raj Girish Karia, Mumbai

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

ITA 1279/MUM/2015[2010-11]Status: DisposedITAT Mumbai28 Apr 2017AY 2010-11

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2010-11

For Appellant: Shri Dharmesh Shah, ARFor Respondent: Shri Arun Shenoy, DR
Section 36(1)(iii)Section 68

…A.O. also held that material was purchased from M/s. R.R. Developers, in which the assessee was a partner. This fact was not disclosed in the audit report. The A.O. relied on the order of the ITAT, Mumbai in the case of Wall Street Construction Ltd. vs. DCIT 87 ITD 47 and rejected the books of accounts of the assessee u/s 145(3) of the Act. 10.1 In appeal the learned CIT(A) upheld the rejection of books of accounts made by the A.O. u/s 145(3) on the ground that (i) the so- called stock register prepared and produced during appellate proceedings does not show quality-wise / grade-wise item of stock of marble and…

Raj Girish Karia, Mumbai vs. JCIT 23(3), Mumbai

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

ITA 1037/MUM/2015[2010-11]Status: DisposedITAT Mumbai28 Apr 2017AY 2010-11

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2010-11

For Appellant: Shri Dharmesh Shah, ARFor Respondent: Shri Arun Shenoy, DR
Section 36(1)(iii)Section 68

…A.O. also held that material was purchased from M/s. R.R. Developers, in which the assessee was a partner. This fact was not disclosed in the audit report. The A.O. relied on the order of the ITAT, Mumbai in the case of Wall Street Construction Ltd. vs. DCIT 87 ITD 47 and rejected the books of accounts of the assessee u/s 145(3) of the Act. 10.1 In appeal the learned CIT(A) upheld the rejection of books of accounts made by the A.O. u/s 145(3) on the ground that (i) the so- called stock register prepared and produced during appellate proceedings does not show quality-wise / grade-wise item of stock of marble and…

Kundan Rice Mills Ltd., Delhi vs. ACIT, Karnal

In the result, all the appeals of the department as well as the cross objections of the assessee are allowed for statistical purposes

ITA 31/DEL/2015[2005-06]Status: DisposedITAT Delhi30 Nov 2015AY 2005-06

Bench: Shri N.K.Saini & Shri C.M. Garg

For Appellant: Shri Ved Jain, CAFor Respondent: Shri Gajanand Meena, CIT-DR
Section 133ASection 145Section 153A

…ITD 10 2. Dwarka Prasad Bajaj Vs CIT (Cal) 181 ITR 277 3. Ram Chandra Sinsh Ramnik Lal Vs CIT (Pat) 42 ITR 780 4. Bhai Sunder Dass Sardar Singh (P) Ltd Vs CIT (Del) 84 ITR 106 5. G.K. Padmaraju Vs. CIT 37 ITR 365 [AP] 6. Wall Street Construction Ltd. Vs. DCIT 87 ITD 47 [Mum-TM] 17. After rejecting the books of account, the AO opined that it would be reasonable if the g.p. rate in respect of trading commission shown at 6.75% was applied in the case of the assessee. 18. In response, the assessee submitted as under: “4.18 The gross profit declared by the assessee in the period A.Y. 2005-06 to A.Y. 2009-10 has bee…

Wall Street Construction Ltd. v. DCIT (87 ITD 47) — Cited in 3 Judgments | BharatTax