Wall Street Construction Ltd. v. Dy. CIT

71 ITD 47Income Tax Appellate Tribunal#21414 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2022 to 2022.

Issues it is cited on

section 131(1)permanent account numberpaper companyprincipal officershell companysource of sourcesection 194aon-moneyentry operatorsection 145(3)addition u/s 68reason to believe

Judgments citing Wall Street Construction Ltd. v. Dy. CIT

ITO 22 (3)(2), MUMBAI vs. M/S SAI EVEREST BUILDERS & DEVELOPERS, MUMBAI

In the result, appeals of revenue for the A

ITA 6490/MUM/2019[2012-13]Status: DisposedITAT Mumbai18 May 2022AY 2012-13

Bench: Shri Vijay Pal Rao & Shri Gagan Goyal

For Appellant: Sh. Hoshang B. Irani, DRFor Respondent: Sh. Prakash Jhunjhunwala
Section 133ASection 143(1)Section 148Section 68

…question of law (see CIT v/s Piramal Spinning and Weaving Mills Ltd. 124 ITR 408). In this case, we find that the net profit estimated at 17.08% is a very possible view of the facts founds” In the case of Wall Street Construction Ltd. vs. Dy. CIT reported in 71 ITD 47 Hon’ble ITAT decided that: “While, the application of the rates of 12 per cent on the unrecorded turnover has to be upheld, we are of the opinion that the results shown by the assessee in the books of account have to be accepted. There is no dispute that the cash receipts of ‘on money’ for this year is Rs, 35, 00,000/- approximately. We are, theref…

ITO 22 (3)(2), MUMBAI vs. M/S SAI EVEREST BUILDERS & DEVELOPERS, MUMBAI

In the result, appeals of revenue for the A

ITA 6489/MUM/2019[2011-12]Status: DisposedITAT Mumbai18 May 2022AY 2011-12

Bench: Shri Vijay Pal Rao & Shri Gagan Goyal

For Appellant: Sh. Hoshang B. Irani, DRFor Respondent: Sh. Prakash Jhunjhunwala
Section 133ASection 143(1)Section 148Section 68

…question of law (see CIT v/s Piramal Spinning and Weaving Mills Ltd. 124 ITR 408). In this case, we find that the net profit estimated at 17.08% is a very possible view of the facts founds” In the case of Wall Street Construction Ltd. vs. Dy. CIT reported in 71 ITD 47 Hon’ble ITAT decided that: “While, the application of the rates of 12 per cent on the unrecorded turnover has to be upheld, we are of the opinion that the results shown by the assessee in the books of account have to be accepted. There is no dispute that the cash receipts of ‘on money’ for this year is Rs, 35, 00,000/- approximately. We are, theref…

ACIT 22(3), MUMBAI vs. SAI EVEREST BUILDERS $ DEVELOPERS, MUMBAI

In the result, appeals of revenue for the A

ITA 4105/MUM/2019[2013-14]Status: DisposedITAT Mumbai18 May 2022AY 2013-14

Bench: Shri Vijay Pal Rao & Shri Gagan Goyal

For Appellant: Sh. Hoshang B. Irani, DRFor Respondent: Sh. Prakash Jhunjhunwala
Section 133ASection 143(1)Section 148Section 68

…question of law (see CIT v/s Piramal Spinning and Weaving Mills Ltd. 124 ITR 408). In this case, we find that the net profit estimated at 17.08% is a very possible view of the facts founds” In the case of Wall Street Construction Ltd. vs. Dy. CIT reported in 71 ITD 47 Hon’ble ITAT decided that: “While, the application of the rates of 12 per cent on the unrecorded turnover has to be upheld, we are of the opinion that the results shown by the assessee in the books of account have to be accepted. There is no dispute that the cash receipts of ‘on money’ for this year is Rs, 35, 00,000/- approximately. We are, theref…

ITO-22(3)(2), MUMBAI vs. SAI EVEREST BUILDERS & DEVELOPERS, MUMBAI

In the result, appeals of revenue for the A

ITA 4096/MUM/2019[2014-15]Status: DisposedITAT Mumbai18 May 2022AY 2014-15

Bench: Shri Vijay Pal Rao & Shri Gagan Goyal

For Appellant: Sh. Hoshang B. Irani, DRFor Respondent: Sh. Prakash Jhunjhunwala
Section 133ASection 143(1)Section 148Section 68

…question of law (see CIT v/s Piramal Spinning and Weaving Mills Ltd. 124 ITR 408). In this case, we find that the net profit estimated at 17.08% is a very possible view of the facts founds” In the case of Wall Street Construction Ltd. vs. Dy. CIT reported in 71 ITD 47 Hon’ble ITAT decided that: “While, the application of the rates of 12 per cent on the unrecorded turnover has to be upheld, we are of the opinion that the results shown by the assessee in the books of account have to be accepted. There is no dispute that the cash receipts of ‘on money’ for this year is Rs, 35, 00,000/- approximately. We are, theref…