The Commissioner of Income Tax vs. M/s.G.V.Krishna Reddy AND Others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

COMMISSISONER OF I.T. RAJAHMUNDRY vs. M/S.Y RAMAKRISHNA AND OTHERS

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

Commissioner of Income Tax, vs. M/s Y.Ramakrishna and Others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The commissioner of Income Tax vs. M/s.M.Narayana Choudary and Others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

COMMISSIONER OF INCOME TAX, vs. M/S G.R.K.PRASAD AND OTHERS

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax vs. M/s.B.Satyanarayana AND Others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

COMMISSIONER OFINCOEMETAX vs. M/S. V.SATYANARAYANA AND OTHERS

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income tax vs. M/s.V.Satyanrayana AND Others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

Commissioner of Income Tax, Rajahmundry. vs. m/s Ganesh Arrack Contractors,

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax vs. M/s GRK Prasad AND others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax-II vs. m/S.M.Ventakteswara Rao AND Others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of income tax, vs. M/s.Y.Ramulu and Others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

COMMR.OF I.T. RKAJAHMUNDRY vs. T.RAMI REDDY AND ORS

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

Commissioner of Income Tax vs. Ms. B.krishna Murthy AND Others

In the result, for the above reasons, we set aside the orders

Bench: V.V.S.RAO,RAMESH RANGANATHAN

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax-III vs. Smt.Anitha Sanghi

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

2) of the Act. The Assessing Officer by an order dated 31.12.2002 inter alia held that since exempted dividend does not form part of income, the assessee is not entitled to disallowance of proportionate expenses as required under Section 14A of the Act. Accordingly, an addition of Rs.20,38

Commissioner of Income Tax-II vs. M/s.Kalyani Wines

In the result, I find this appeal bereft of merit and accordingly,

Bench: Hon’Ble Mr. Justice Robin Phukan

38 of 60 Court derived authority from a decision Hon‟ble Supreme Court in the case of Indian Oil Corpn. Ltd. v. NCC Ltd. reported in (2023) 2 SCC 539, wherein it has been held that only those claims which are notified after following the procedure shall be considered as notified claim. The relevant paragraph is reproduced herein below

Commissioner of Income Tax-1 vs. The Associated Taners

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

disallowance of Rs.74,01,771/- on the ground that it was a revenue expenditure?" ITA 271/2005 Page 2 of 8 Question No.1 2. The facts here are that the Assessing Officer (hereafter „AO‟) brought to tax a total amount of `1.2 crores for the relevant Assessment Year (A.Y.) 2000-01 holding that these denoted amounts as deemed dividend under Section

THE COMMISSIONER OF INCOME TAX-III vs. M/S. SOMA ENTERPRISES LTD

The appeal is disposed off accordingly

Bench: The Hon'Ble Mr. Justice Ravi Malimath

2) was issued and served on the assessee on 23.08.2007. In response to the same, the Internal Auditor has appeared and represented the case and produced various documents and books of account for verification. 4. On the question of depreciation, the Trust had claimed deduction towards depreciation allowance 4 amounting to Rs.8,41,36,636/- which includes depreciation