Section 2(7A) of the Income Tax Act

The decision most relied on for Section 2(7A) is CIT v. Mahalaxmi Glass Works (P) Ltd. (318 ITR 116), cited in 64 of the 30 judgments on BharatTax that turn on this section.

Leading authorities on Section 2(7A)

CIT v. Mahalaxmi Glass Works (P) Ltd.
318 ITR 116 · 2009 · High Court
64
citing judgments

When the valuation of closing stock is adjusted to include CENVAT or Modvat credit under Section 145A, a corresponding adjustment must also be made to the opening stock.

CIT v. Mahavir Alluminium Ltd.
297 ITR 77 · 2008 · High Court
58
citing judgments

When the Assessing Officer revalues the closing stock, the opening stock must also be revalued on the same basis to ensure consistency in the method of accounting and proper computation of business income.

Commissioner of Income Tax v. Central Bank of India
232 Taxmann 396 · 2015 · High Court
25
citing judgments
Mega Corporation Ltd. v. ACIT
155 ITD 1019 · 2015 · ITAT
24
citing judgments
1. Mega Corporation v. Addl. CIT
62 Taxmann.com 351 · 2015 · High Court
18
citing judgments
Cosmat Traders (P.) Ltd. v. ITO
128 Taxmann.com 174 · 2021 · Reported
16
citing judgments
Eicher Motors Ltd. v. Union of India
8 SCC 361 · 2002 · Reported
16
citing judgments
CIT v. Wipro Finance Ltd.
323 ITR 467 · 2010 · High Court
14
citing judgments
Wallace Brothers & Co. Ltd. v. CIT
13 ITR 39 · 1945 · Reported
10
citing judgments
Smt. Sohani Devi Jain v. ITO
109 ITR 130 · 1977 · High Court
9
citing judgments

Judgments on Section 2(7A)

TIRUCHANGODU RAMASAMY KHANNAIYANN SARASUWATHI,COIMBATORE vs. DCIT, CENTRAL CIRCLE-1,, COIMBATORE

ITA 3135/CHNY/2025[2014-15]Status: DisposedITAT Chennai04 Mar 2026AY 2014-15

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunatha

For Appellant: Shri. T. Banusekar, AdvocateFor Respondent: Ms. T. Mythili, JCIT
Section 142A(6)Section 143(3)Section 234ASection 250Section 50CSection 56(2)(vii)

BALAJI MARBLES AND TILES PVT LIMITED,KATNI vs. DCIT CENTRAL CIRCLE 1, UDAIPUR

In the result, the appeal of the assessee is allowed

ITA 304/JODH/2024[2017-2018]Status: DisposedITAT Jodhpur26 Feb 2026AY 2017-2018

Bench: Dr. Mitha Lal Meena, Hon’Ble & Sudhir Pareek, Hon’Blebalaji Marbles & Tiles Pvt. Ltd. Dcit, Central Circle -1, 12 Dunne Market, Bargawan, Udaipur. Jabalpur Road, Madhya Pradesh – 483501. Pan No. Aaccb 4886 C Assessee By Shri Rahul Bardia, Ca (Virtual) Revenue By Shri P.R. Mirdha, Addl. Cit (Virtual) Date Of Hearing 18.02.2026. Date Of Pronouncement 26.02.2026. Order Dr. Mitha Lal Meena, A.M.: This Appeal Filed By The Assessee Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals), Udaipur–2 [Cit(A)], Dated 28.02.2024 For The Assessment Year 2017–18. 2. The Assessee Has Taken Following Grounds Of Appeal: 1. The Ld Cit Erred In Law & Facts Of The Case In Rejecting The Books Of Account During Appellate Proceedings. 2. The Ld Cit Appeals Erred In Law & Facts Of The Case In Enhancing The Addition On Account Of Gp Addition Of Rs 94,24,706/-. 3. The Ld Cit Appeals Erred In Law & Facts Of The Case In Comparing The Gp Ratio Of Assessee As 2.07% Whereas The Assessee Explained

Section 143(3)Section 145Section 145(3)Section 69A

VIVEK MANN,KARNAL vs. INCOME TAX OFFICER, WARD-1, KARNAL, KARNAL

In the result, the appeal of the assessee is allowed

ITA 8326/DEL/2025[2015-16]Status: DisposedITAT Delhi30 Jan 2026AY 2015-16

Bench: Shri C.N. Prasad[Assessment Year: 2015-16] Vivek Mann Vs. Ito Ward-1 Village Goghirpur, Karnal Karnal Pan No.Ahcpv3556H Appellant Respondent

Section 120Section 127Section 127(1)Section 142(1)Section 143(2)

THE FARRUKHABAD DISTRICT CO- OPERATIVE BANK LTD,FATEHAGARH vs. DCIT,CIRCLE-2,(1), FARRUKHABAD

In the result, ground No. 6 raised by the assessee is

ITA 75/AGR/2016[2012-13]Status: DisposedITAT Agra15 Jan 2026AY 2012-13

Bench: : Shri S. Rifaur Rahman & Shri Sunil Kumar Singhassessment Year: 2008-09

Section 120(4)(b)Section 143(1)Section 143(2)Section 2Section 250

THE FARRUKHABAD DISTRICT COOPERATIVE BANK,FARRUKHABAD vs. ADDL. C.I.T., RANGE-2, FARRUKHABAD

In the result, ground No. 6 raised by the assessee is

ITA 138/AGR/2014[2008-09]Status: DisposedITAT Agra15 Jan 2026AY 2008-09

Bench: : Shri S. Rifaur Rahman & Shri Sunil Kumar Singhassessment Year: 2008-09

Section 120(4)(b)Section 143(1)Section 143(2)Section 2Section 250

ACIT, CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD vs. AL-ARSH EXPORTS PVT. LTD, NEW DELHI

In the result, the appeal of the Revenue in ITA No

ITA 227/DEL/2024[2014-15]Status: DisposedITAT Delhi14 Jan 2026AY 2014-15

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla[Assessment Year:2014-15] Acit, Central Circle, Al-Arsh Exports Pvt Ltd., Room No.229, 2Nd Floor, 30, Bazar Lane, Cgo Complex-1, Vs C.P. Bengali Market, Hapur Chungi Ghaziabad, New Delhi-110001 Uttar Pradesh-201002 Pan Aalca5543N Appellant Respondent Cross Objection No.14/Del/2024 [In Ita No.227/Del/2024] [Assessment Year:2014-15] Al-Arsh Exports Pvt Ltd., Acit, Central Circle, Room No.229, 2Nd Floor, 30, Bazar Lane, C.P. Bengali Market, Vs Cgo Complex-1, New Delhi-110001 Hapur Chungi Ghaziabad, Uttar Pradesh-201002 Pan Aalca5543N Appellant Respondent Revenue By Shri Mukesh Kumar Jha, Cit(Dr) Assessee By Shri Swaran Singh, Ca & Shri Vipan Kundra, Ca Date Of Hearing 15.12.2025 Date Of Pronouncement 14.01.2026

Section 120(4)(b)Section 139(1)Section 143(3)Section 147Section 148Section 2Section 68

ASSISSTANT COMMISSIONER OF INCOME TAX, JHANDEWALAN EXTN. vs. OM PRAKASH ARORA, CONNAUGHT PLACE

In the result, appeal of the Revenue vide ITA No

ITA 5031/DEL/2024[2015-16]Status: DisposedITAT Delhi09 Jan 2026AY 2015-16

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2015-16] Assistant Commissioner Of Om Prakash Arora, Income Tax, Central Circle-01, M-3, Flat No.103, Avg Bhawan E-2, Jhandewalan Extn. Vs The Variety Books Depot. New Delhi-110055 Connaught Place, New Delhi-110001 Pan-Accpa9774F Assessee Revenue Cross Objection No.42/Del/2025 (Arising Out Of Ita No.5031/Del/2024) [Assessment Year: 2015-16] Om Prakash Arora, Assistant Commissioner Of Income M-3, Flat No.103, Avg Tax, Central Circle-01, Bhawan The Variety Books Vs E-2, Jhandewalan Extn. Depot. Connaught Place, New Delhi-110055 New Delhi-110001 Pan-Accpa9774F Assessee Revenue [Assessment Year: 2016-17] Assistant Commissioner Of Om Prakash Arora, Income Tax, Central Circle-01, M-3, Flat No.103, Avg Bhawan E-2, Jhandewalan Extn. Vs The Variety Books Depot. New Delhi-110055 Connaught Place, New Delhi-110001 Pan-Accpa9774F Assessee Revenue

Section 139(1)Section 143(3)Section 147Section 148Section 151

ASSISSTANT COMMISSIONER OF INCOME TAX, JHANDEWALAN EXTN. vs. OM PRAKASH ARORA, CONNAUGHT PLACE

In the result, appeal of the Revenue vide ITA No

ITA 5029/DEL/2024[2016-17]Status: DisposedITAT Delhi09 Jan 2026AY 2016-17

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2015-16] Assistant Commissioner Of Om Prakash Arora, Income Tax, Central Circle-01, M-3, Flat No.103, Avg Bhawan E-2, Jhandewalan Extn. Vs The Variety Books Depot. New Delhi-110055 Connaught Place, New Delhi-110001 Pan-Accpa9774F Assessee Revenue Cross Objection No.42/Del/2025 (Arising Out Of Ita No.5031/Del/2024) [Assessment Year: 2015-16] Om Prakash Arora, Assistant Commissioner Of Income M-3, Flat No.103, Avg Tax, Central Circle-01, Bhawan The Variety Books Vs E-2, Jhandewalan Extn. Depot. Connaught Place, New Delhi-110055 New Delhi-110001 Pan-Accpa9774F Assessee Revenue [Assessment Year: 2016-17] Assistant Commissioner Of Om Prakash Arora, Income Tax, Central Circle-01, M-3, Flat No.103, Avg Bhawan E-2, Jhandewalan Extn. Vs The Variety Books Depot. New Delhi-110055 Connaught Place, New Delhi-110001 Pan-Accpa9774F Assessee Revenue

Section 139(1)Section 143(3)Section 147Section 148Section 151

ITO-26(2)(1), MUMBAI, KAUTILYA BHAVAN BKC, MUMBAI vs. SVADESHI ENTERPRISES (MUMBAI), FORT, MUMBAI

ITA 5865/MUM/2024[2014-15]Status: DisposedITAT Mumbai06 Jan 2026AY 2014-15

Bench: Shri Rahul Chaudhary & Shri Prabhash Shankar

For Appellant: Mr. Akshay & Nishil Jain, ARSFor Respondent: Shri Swapnil Choudhary, (Sr. DR)

INSIGHT PRINT COMMUNICATIONS PRIVATE LIMITED,MUMBAI vs. THE PCIT, MUMBAI-4, MUMBAI

In the result, appeal of the assessee is dismissed

ITA 3384/MUM/2025[2020-21]Status: DisposedITAT Mumbai31 Dec 2025AY 2020-21

Bench: Shri Pawan Singh & Shri Girish Agrawalassessment Year: 2020-21 Insight Print Communications Pcit, Mumbai-4 Private Limited A-14, Synthofine Industrial Estate, Behind Virvani Industrial Estate, Vs. Dindoshi, Off Aarey Road, Goregaon (East), Mumbai – 400063 (Pan: Aabci6530P) (Appellant) (Respondent) Present For: Assessee : Shri Lalchand Choudhary, Ca Revenue : Shri R.A. Dhyani, Cit Dr Date Of Hearing : 08.10.2025 Date Of Pronouncement : 31.12.2025 O R D E R Per Girish Agrawal: This Appeal Filed By The Assessee Is Against The Revisionary Order By Ld. Pcit, Mumbai-4, Vide Order No. Itba/Rev/F/Rev5/2024- 25/1074740466(1), Dated 20.03.2025 Passed U/S. 263 Of The Income- Tax Act, 1961 (Hereinafter Referred To As The “Act”) Against The Assessment Order By Assessment Unit, U/S. 143(3) R.W.S.144B Of The Act, Dated 22.09.2022, For Ay 2020-21. 2. Grounds Taken By Assessee Are Reproduced As Under: 1. The Appellant Prefers The Following Appeal Against The Order Dated 20/03/2025 Of The Principal Commissioner Of Income Tax, Mumbai-4 (Hereinafter Referred To As "The Pcit ") Passed Under Section 263 Of The Income Tax Act, 1961 ("The Act"). Each Of The Grounds Is In Alternative & Without Prejudice To Other.

For Appellant: Shri Lalchand Choudhary, CAFor Respondent: Shri R.A. Dhyani, CIT DR
Section 142(1)Section 143(3)Section 263Section 37Section 40

HARISH CHAND GUPTA,DELHI vs. INCOME TAX OFFICER, WARD 34(1), DELHI, DELHI

In the result, the appeal of the assessee is allowed

ITA 671/DEL/2025[2017-18]Status: DisposedITAT Delhi23 Dec 2025AY 2017-18

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumarassessment Year : 2017-18 Harish Chand Gupta, Vs. Income Tax Officer, Bn-81, West Shalimar Bagh, Ward-34(1), Delhi – 110 088. Delhi. Pan: Aeupg0010Q (Appellant) (Respondent) Assessee By : Shri S.K. Gupta, Ca Revenue By : Shri Om Parkash, Sr. Dr Date Of Hearing : 29.10.2025 Date Of Pronouncement : 23.12.2025

For Appellant: Shri S.K. Gupta, CAFor Respondent: Shri Om Parkash, Sr. DR
Section 142(1)Section 143(1)Section 143(2)Section 144Section 250Section 68Section 69A

BADRI PRASAD VISHWA NATH JEWELS,LUCKNOW vs. ACIT-2, LUCKNOW

In the result, the appeal is partly allowed for statistical purposes

ITA 382/LKW/2023[2017-18]Status: DisposedITAT Lucknow04 Dec 2025AY 2017-18

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 115BSection 120Section 143(2)Section 143(3)Section 2Section 40A(3)Section 68

ANJU MEEL,JAIPUR vs. I.T.O. WARD 3(4), JAIPUR, JAIPUR

In the result, the appeal is partly allowed

ITA 741/JPR/2025[A.Y. 2008-09]Status: DisposedITAT Jaipur10 Nov 2025

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. G. M. Mehta, CAFor Respondent: Sh. Gautam Singh Chaudhary, Addl. CIT
Section 142(1)Section 143(3)Section 147Section 148Section 151Section 292B

OM PRAKASH BANSAL (HUF),NAYA BAZ DELHIAR vs. AC CIRCLE 46(1) NEW DELHI, NEW DELH

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

ITA 2984/DEL/2024[2017-18]Status: DisposedITAT Delhi24 Oct 2025AY 2017-18

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharmaom Prakash Bansal (Huf), Vs. Acit, Circle 46(1), 3990, F/F, Naya Bazar, New Delhi. Delhi – 110 006. (Pan : Aabho0485L) (Appellant) (Respondent) Assessee By : Shri Suresh Kumar Gupta, Ca Revenue By : Shir Vipul Kashyap, Sr. Dr Date Of Hearing : 05.08.2025 Date Of Order : 24.10.2025 O R D E R Per S.Rifaur Rahman,Am: 1. This Appeal Has Been Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)/National Faceless Appeal Centre (Nfac), Delhi (Hereinafter Referred To As ‘Ld. Cit (A)) Dated 19.04.2024 For The Assessment Year 2017-18. 2. At The Time Of Hearing, Ld. Ar Of The Assessee Brought To Our Notice Application For Admission Of Additional Grounds Of Appeal Wherein Following Additional Grounds Of Appeal Are Raised :-

For Appellant: Shri Suresh Kumar Gupta, CAFor Respondent: Shir Vipul Kashyap, Sr. DR
Section 143(2)

FUSION GRANITO PRIVATE LIMITED,MORBI vs. THE PR. COMMISSIONER OF INCOME TAX - 1, RAJKOT, RAJKOT

In the result, the appeal filed by the assessee is allowed for statistical purposes, in above terms

ITA 190/RJT/2023[2018-19]Status: DisposedITAT Rajkot10 Sept 2025AY 2018-19

Bench: Dr. A. L. Saini, Am & Shri Dinesh Mohan Sinha, Jm आयकर अपील सं./Ita No.190/Rjt/2023 (िनधा"रण वष" / Assessment Year: (2018-19) (Physical Hearing) Fusion Granito Pvt. Ltd. बनाम/ Principal Commissioner Of Income Revenue Survey No.555/P1/91, Tax-1, Vs. Nr. Khokhra Hanuman Temple, 2Nd Jetpar Road, Morbi-363641 Rajkot, Floor, “Aayakar Bhawan”, Race Course Ring Road, Rajkot-360001 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcf 0696 B (अपीलाथ"/Appellant) (""थ" /Respondent) अपीलाथ" ओर से/ Appellant By Shri Bandish Soparkar, Ar ""थ" की ओर से/Respondent By Shri Praveen Verma, Cit Dr सुनवाई की तारीख/Date Of Hearing 24/06/2025 घोषणा की तारीख /Date Of Pronouncement 10/09/2025 आदेश / O R D E R Per Dr. Arjun Lal Saini, A.M By Way Of This Appeal, The Assessee Has Challenged The Correctness Of The Order Passed By The Learned Principal Commissioner Of Income Tax - 1, Rajkot [In Short ‘Ld. Pcit’], Dated 27.03.2023, Under Section 263 Of The Income Tax Act, 1961 [Hereinafter Referred To As The ‘Act’] For The Assessment Year (Ay) 2018-19. 2. Grievances Raised By The Assessee, Which, Being Interconnected, Will Be Taken Up Together, Are As Follows: “1. The Revision Order U/S 263 Of The Act Dated 28.03.2023 Is Bad In Law. 2. The Hon’Ble Pr. Cit-1, Rajkot Has Erred In Law As Well As On Facts In Completing The Revision Proceedings U/S 263 Of The Act Hurriedly In Short Span Of Time Fusion Granito Pvt. Ltd.

Section 143(3)Section 263Section 68

KARAN MOTORS PRIVATE LIMITED ,JANAKPURI, NEW DELHI vs. DCIT CENTRAL CIRCLE 27, , DELHI

In the result, the appeal of the assessee is allowed

ITA 168/DEL/2025[2014-15]Status: DisposedITAT Delhi29 Aug 2025AY 2014-15

Bench: Shri M. Balaganesh & Shri Sudhir Kumarkaran Motors Pvt. Ltd, Vs. Dcit, A3-44, Third Floor, Central Circle-27, Janakpuri, New Delhi New Delhi (Appellant) (Respondent) Pan: Aaack0039L Assessee By : Shri Ajay Wadhwa, Adv Ms. Ragini Handa, Adv Revenue By: Shri Ajay Kumar Arora, Sr. Dr Date Of Hearing 31/07/2025 Date Of Pronouncement 29/08/2025

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Ajay Kumar Arora, Sr. DR
Section 120(2)Section 120(4)Section 120(4)(b)Section 127Section 143(1)Section 143(3)Section 19(1)Section 19(6)Section 2

VINOD KUMAR GIRI,HOWRAH vs. ITO, WARD 47(1), , KOLKATA

In the result, the appeal stands dismissed and the substantial question of law is answered against the revenue

ITA 716/KOL/2025[2018-19]Status: DisposedITAT Kolkata11 Aug 2025AY 2018-19

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyi.T.A. No. 716/Kol/2025 Assessment Year: 2018-2019 Vinod Kumar Giri,…………………….…………..Appellant 158/2/1, Belilious Road, Kadamtala, Howrah-711101, West Bengal [Pan:Adxpg2995E] -Vs.- Income Tax Officer,…………………………......Respondent Ward-47(1), Kolkata, 3, Government Place (West), Kolkata-700001 Appearances By: Shri Vikash Surana, A.R., Appeared On Behalf Of The Assessee Shri S.B. Chakraborthy, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: July 30, 2025 Date Of Pronouncing The Order: August 11, 2025 O R D E R

Section 119Section 147Section 148Section 148ASection 68

SURYA LAND DEVELOPERS, RAIPUR,RAIPUR vs. INCOME TAX OFFICER-1(4), RAIPUR, RAIPUR

In the result, appeal of the Assessee is allowed

ITA 328/RPR/2025[2015-16]Status: DisposedITAT Raipur03 Jul 2025AY 2015-16

Bench: Shri Partha Sarathi Chaudhury, Judicial Ember

For Appellant: Shri Vikaas S. Sharma, CAFor Respondent: Dr. Priyanka Patel, Sr.-DR
Section 143(2)Section 143(3)Section 194CSection 201Section 40

SMT. BASANTI BAI AGRAWAL, MAHASAMUND,MAHASAMUND vs. INCOME TAX OFFICER, WARD-MAHASAMUND, MAHASAMUND

In the result, appeal of the assessee is allowed

ITA 259/RPR/2025[2016-17]Status: DisposedITAT Raipur23 Jun 2025AY 2016-17

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.259/Rpr/2025 "नधा"रण वष" /Assessment Year : 2016-17 Smt. Basanti Bai Agrawal Proprietor: Shri Narayan Rice Industries, Main Road, Samhar B.O, Samhar, P.O. Bagbahra, Dist.: Mahasamund-493 449 Pan: Acopa8043K .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-Mahasamund (C.G.) ……""यथ" / Respondent

For Appellant: Shri Veekaas S Sharma, CAFor Respondent: Dr. Priyanka Patel, Sr. DR
Section 120Section 131Section 142(3)Section 143(2)Section 143(3)Section 145(3)Section 2

DERA SACHA SAUDA,SIRSA vs. PCIT(CENTRAL),GURGAON, GURGAON

ITA 21/CHANDI/2024[NA]Status: DisposedITAT Chandigarh24 Apr 2025

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 21/Chd/2024 (Under Section 12Aa) M/S Dera Sacha Sauda, Shah Satnam Ji Dham, Shah Satnam Ji Marg, Sirsa. Vs The Pcit (Central), Gurgaon. स्थायी लेखा सं./Pan No: Aaatd8359H अपीलार्थी/Appellant प्रत्यर्थी/Respondent Assessee By : Shri Rakesh Gupta, Advocate & Shri Saksham Aggarwal, C.A. Revenue By : Shri Rohit Sharma, Cit,Dr Date Of Hearing 05.03.2025 Date Of Pronouncement : 25.04.2025 Per Rajpal Yadav, Vp Hybrid Hearing Order The Assessee Is In Appeal Against The Order Of Ld. Pr. Commissioner Of Income Tax, Central, Gurgaon (In Short 'The Pcit') Dated 27.12.2023 Vide Which Registration Granted Under Section 12Aa Of The Act Dated 13.12.2004 Has Been Cancelled W.E.F. 01.04.2016 By Invoking The Provisions Of Section 12Ab(4) Of The Act.

For Appellant: Shri Rakesh Gupta, Advocate andFor Respondent: Shri Rohit Sharma, CIT,DR
Section 11Section 127Section 12ASection 142Section 143(2)Section 143(3)

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