DLF LIMITED,DELHI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

section 115BAA from AY 2020-21 onwards. Accordingly, the excess margins accounted for in the books of accounts of the Appellant in earlier years (as per POCM) have already been offered to tax at a higher rate of 35% and the said margins would again be taxed in the subsequent years at the time of sale of built-up units

DCIT, CIRCLE-7(1), DELHI vs. DLF LIMITED, DELHI

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

section 115BAA from AY 2020-21 onwards. Accordingly, the excess margins accounted for in the books of accounts of the Appellant in earlier years (as per POCM) have already been offered to tax at a higher rate of 35% and the said margins would again be taxed in the subsequent years at the time of sale of built-up units

DLF LIMITED,DELHI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

section 115BAA from AY 2020-21 onwards. Accordingly, the excess margins accounted for in the books of accounts of the Appellant in earlier years (as per POCM) have already been offered to tax at a higher rate of 35% and the said margins would again be taxed in the subsequent years at the time of sale of built-up units

DCIT, CIRCLE-7(1), DELHI vs. DLF LIMITED, DELHI

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

section 115BAA from AY 2020-21 onwards. Accordingly, the excess margins accounted for in the books of accounts of the Appellant in earlier years (as per POCM) have already been offered to tax at a higher rate of 35% and the said margins would again be taxed in the subsequent years at the time of sale of built-up units

SHIV SHAKTI CONSTRUCTONS ,GAUTAM BUDH NAGAR vs. ACIT CENTAL CIRCLE-2, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

DCIT CENTRAL CIRCLE-2, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

SHIV SHAKTI CONSTRUCTION,GAUTAM BUDH NAGER vs. ACIT, CENTRAL CIRCLE-2 , NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

SHIV SHAKTI CONSTRUCTIONS,GAUTAM BUDH NAGAR vs. ACIT, CENTRAL CIRCLE-11, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

SHIV SHAKTI CONSTRUCTIONS,GAUTAM BUDH NAGAR vs. ACIT, CENTRAL CIRCLE-11, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

DCIT, CENTRAL CIRCLE-II, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

SHIV SHAKTI CONSTRUCTIONS,GAUTAM BUDH NAGAR vs. ACIT, CENTRAL CIRCLE-11, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

DCIT, CENTRAL CIRCLE-II, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

DCIT CENTRAL CIRCLE-2, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

SHIV SHAKTI CONSTRUCTIONS ,GAUTAM BUDH NAGER vs. ACIT, CENTRAL CIRCLE-2, NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

DCIT, CENTRAL CIRCLE-II, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

DCIT CENTRAL CIRCLE-2, NOIDA vs. SHIV SHAKTI CONSTRUCTION, GREATER NOIDA

In the result, all the Revenue’s Appeals are dismissed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

145(3) was invoked. Having rejected the books of account, the CIT(A) estimated the likely profits derived by the assessee from contract business disregarding the expenses claimed by the assessee. The net profit of the contract business was holistically estimated at 10% of the turnover/receipts from the government contracts. While doing so, however, interest on FDR, interest

KUNSHAN Q TECH MICROELECTRONICS (INDIA) PVT. LTD.,UTTAR PRADESH vs. DCIT, CENTRAL CIRCLE-30, DELHI

145 TAXMAN 549 (CAL.) vide order dated 07.10.2004\nc. Hon'ble ITAT Chandigarh in the case of Deluxe Enterprises v. ITO, Ward-1 Solan [2017] 88 taxmnan.com 771 (Chandigarh-Trib.)\nd. Hon'ble Supreme court in the case of Bidi Supply Co. v. Union of India [1956] 29 ITR 717 (SC)\nii.\nCrux of the pronouncements -aforementioned well-settled judicial

ACIT, CIRCLE- 19(1), NEW DELHI vs. OJAS INDUSTRIES (P) LTD., NEW DELHI

In the result, the appeal of the assessee is allowed and the appeal of the Revenue is dismissed

Bench: Dr. B. R. R. Kumarshri Yogesh Kumar Us

Section 145(3) of the Act on the Manufacturing cum trading A/c results. The Ld. CIT(A) in his order in para 16.5, wrongly observed that the A.O. has done calculation mistake by taking figure of molasses consumption at 11450998.9 qtls. instead of 7,33,400 qtls., Where as the AO, in para 15 of his order, though made typographical