(The Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT

244 ITR 496High Court2000#7074 most cited
16

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2024.

Issues it is cited on

compensatory interestsection 243section 262section 2(40)section 89section 208section 210section 115jaasection 140asection 143(1)(a)(v)section 90asection 28(i)

Judgments citing (The Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT

M/S SANTHIMADOM AYURNIKETHAN HEALTH RESORT & RESEARCH INSTITUTE TRUST,KOCHI vs. ACIT CENTRAL CIRCLE -2, KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

ITA 919/COCH/2022[2009-10]Status: DisposedITAT Cochin02 May 2024AY 2009-10

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

For Appellant: Shri Mathew Joseph, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 153ASection 153CSection 234A

…h it being at the same time trite law that it is the operative principle, the ratio decidendi of the decision, that has precedent value (The Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC); Sree Bhagavathi Textiles Ltd. v. CIT[2000] 244 ITR 496 (Ker)). The only opinion therefore on record is that by the Tribunal in Santhimadom Herbal City Trust (supra), which we have, for the reasons afore-stated, found as not commending itself for adoption, with there being no estoppel against law. The Tribunal, in rendering it’s said decision, did not consider the legal import of a ‘set aside’, judici…

M/S SANTHIMADOM AYURNIKETHAN HEALTH RESORT & RESEARCH INSTITUTE TRUST,KOCHI vs. ACIT CENTRAL CIRCLE 2, KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

ITA 918/COCH/2022[2008-09]Status: DisposedITAT Cochin02 May 2024AY 2008-09

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

For Appellant: Shri Mathew Joseph, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 153ASection 153CSection 234A

…h it being at the same time trite law that it is the operative principle, the ratio decidendi of the decision, that has precedent value (The Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC); Sree Bhagavathi Textiles Ltd. v. CIT[2000] 244 ITR 496 (Ker)). The only opinion therefore on record is that by the Tribunal in Santhimadom Herbal City Trust (supra), which we have, for the reasons afore-stated, found as not commending itself for adoption, with there being no estoppel against law. The Tribunal, in rendering it’s said decision, did not consider the legal import of a ‘set aside’, judici…

M/S SANTHIMADOM AYURNIKETHAN HEALTH RESORT & RESEARCH INSTITUTE TRUST,KOCHI vs. ACIT CENTRAL CIRCLE -2, KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

ITA 917/COCH/2022[2007-08]Status: DisposedITAT Cochin02 May 2024AY 2007-08

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

For Appellant: Shri Mathew Joseph, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 153ASection 153CSection 234A

…h it being at the same time trite law that it is the operative principle, the ratio decidendi of the decision, that has precedent value (The Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC); Sree Bhagavathi Textiles Ltd. v. CIT[2000] 244 ITR 496 (Ker)). The only opinion therefore on record is that by the Tribunal in Santhimadom Herbal City Trust (supra), which we have, for the reasons afore-stated, found as not commending itself for adoption, with there being no estoppel against law. The Tribunal, in rendering it’s said decision, did not consider the legal import of a ‘set aside’, judici…

M/S SANTHIMADOM AYURNIKETHAN HEALTH RESORT & RESEARCH INSTITUTE TRUST,ERNAKULAM vs. ACIT CENTRAL CIRCLE-2, KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

ITA 916/COCH/2022[2005-06]Status: DisposedITAT Cochin02 May 2024AY 2005-06

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

For Appellant: Shri Mathew Joseph, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 153ASection 153CSection 234A

…h it being at the same time trite law that it is the operative principle, the ratio decidendi of the decision, that has precedent value (The Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC); Sree Bhagavathi Textiles Ltd. v. CIT[2000] 244 ITR 496 (Ker)). The only opinion therefore on record is that by the Tribunal in Santhimadom Herbal City Trust (supra), which we have, for the reasons afore-stated, found as not commending itself for adoption, with there being no estoppel against law. The Tribunal, in rendering it’s said decision, did not consider the legal import of a ‘set aside’, judici…

M/S HIGH RANGE FOODS PRIVATE LTD,KOCHI vs. ITO CORPORATE WARD 1(3), KOCHI

In the result, the assessee’s appeal is partly allowed

ITA 22/COCH/2023[2015-16]Status: DisposedITAT Cochin11 Dec 2023AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Dashigh Range Foods Pvt. Ltd. The Income Tax Officer 28/3030, Cheruparambath Road Corporate Ward – 1(3) Vs. Kadavanthra, Kochi 682020 Kochi [Pan:Aaach6076L] (Appellant) (Respondent) Assessee By: Shri P.M. Veeramani, Ca Revenue By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 11.09.2023 Date Of Pronouncement: 11.12.2023 O R D E R Per Sanjay Arora, Am This Appeal By The Assessee Is Directed Against The Order Dated 28.06.2022 By The Commissioner Of Income Tax (Appeals), Nfac, Delhi [Cit(A)], Disallowing The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’) Dated 27.12.2017 For Assessment Year (Ay) 2015-16. 2. The Appeal, Filed On 09.01.2023, Is Delayed By 135 Days. The Condonation Petition Accompanying The Appeal, Which Is Supported By A Sworn Affidavit Dated 29.12.2022 By Shri Simon John, The Director & Principal Officer Of The Assessee- Company, Explains The Delay In Terms Of Non-Conveyance Of The Impugned Order Inasmuch As It’S Uploading On The Itba Was Not Accompanied By A Simultaneous Uploading On The Mobile Application As Well As A Real Time Alert Through Sms, As Required By Clause 11 Of The National Faceless Appeal Scheme (Nfas), So That The Order Cannot Be Regarded As Served On 28.6.2022, The Date Of The Impugned Order And

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 41(1)

…sence of any reason for it’s decision, i.e., of accrual of income being only on the termination of the agreement, stated of absence of a ratio decidendi, which only constitutes the judicial precedent and is binding (Sree Bhagavathi Textiles Ltd. v. CIT [2000] 244 ITR 496 (Ker)), it is, strictly speaking, not the case. Though generally regarded as it’s ratio, the reason for the decision, absent in the instant case, may not necessarily be the ratio of a decision, which is the principle or the statement of law on which the decision is founded. As explained in The Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT…

ACIT, ERNAKULAM vs. APPOLO TYRES LTD, COCHIN

In the result, the Revenue’s appeals as well as the Assessee’s COs, are allowed

ITA 140/COCH/2020[2011-12]Status: DisposedITAT Cochin30 Nov 2023AY 2011-12

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Sh. Sanjit K. Das, CIT-DR and Smt
Section 147

…h/ 2020 (AYs 2009-10 & 2011-12) CO Nos. 02 & 03/Coch/2020 Asst. CIT vs. Apollo Tyres Ltd. same, in ratio, which alone is binding (The Mavilayi Service Co-operative Bank Ltd. Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC); Sree Bhagavathi Textiles Ltd. v. CIT [2000] 244 ITR 496 (Ker)), again validates the view taken by us. We shall, nevertheless, begin by reproducing the only part (of the decision) through which we were taken during hearing: - “31. The revenue now has come up with the plea that certain documents were not supplied but according to us all these documents cannot be said to be documents which the assessee w…

ACIT, ERNAKULAM vs. APPOLO TYRES LTD, COCHIN

In the result, the Revenue’s appeals as well as the Assessee’s COs, are allowed

ITA 139/COCH/2020[2009-10]Status: DisposedITAT Cochin30 Nov 2023AY 2009-10

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Sh. Sanjit K. Das, CIT-DR and Smt
Section 147

…h/ 2020 (AYs 2009-10 & 2011-12) CO Nos. 02 & 03/Coch/2020 Asst. CIT vs. Apollo Tyres Ltd. same, in ratio, which alone is binding (The Mavilayi Service Co-operative Bank Ltd. Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC); Sree Bhagavathi Textiles Ltd. v. CIT [2000] 244 ITR 496 (Ker)), again validates the view taken by us. We shall, nevertheless, begin by reproducing the only part (of the decision) through which we were taken during hearing: - “31. The revenue now has come up with the plea that certain documents were not supplied but according to us all these documents cannot be said to be documents which the assessee w…

DCIT, COCHIN vs. SHRI M GEORGE ( MUKKADAYIL JOSEPH GEORGE), COCHIN

In the result, the Revenue’s appeal is allowed

ITA 525/COCH/2011[2006-07]Status: DisposedITAT Cochin31 Oct 2023AY 2006-07

Bench: Shri Sanjay Arora & Shri Manomohan Dasdy. Cit, Circle 2(1), Range – 2 M.J. George C.R. Building, I.S. Press Road, Mukkadayil House Kochi 682018 Vs. Krishnaswamy Cross Road Ernakulam, Kochi - 682035 [Pan: Adgpg6991D] (Appellant) (Respondent) Revenue By: Sri Sajit Kumar Das, Cit-Dr Assessee By: Sri R. Lokanathan, Ca Date Of Hearing: 17.08.2023 Date Of Pronouncement: 31.10.2023 Order Per Sanjay Arora, Am This Is An Appeal By The Revenue Agitating The Allowance Of The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (The Act) Dated 31.12.2008 For Assessment Year (Ay) 2006-07, By The Commissioner Of Income Tax (Appeals)-2, Kochi [Cit(A)] Vide His Order Dated 31.03.2011. 2. The Facts Of The Case In Brief Are That The Assessee, An Individual, Who Had Returned His Income For The Year At Rs.63,420/- (From Business & Other Sources), Was Found To Have A Credit Of Rs.899.10 Lakhs In His Bank Account On 14.02.2006. The Same Was Explained In The Assessment Proceedings As Sale Proceeds Of 5.21 Acres Of Land At Kakkanad Village, Falling Under Thrikkakara Panchayat, Sold For Rs.977.10 Lakhs Vide Registered Sale Deed Dated 13.02.2006. The Sale Was In Pursuance Of An Agreement To Sell Dated 09.01.2006, Receiving Rs.78 Lakhs As Advance. The Said Land

For Appellant: Sri R. Lokanathan, CAFor Respondent: Sri Sajit Kumar Das, CIT-DR
Section 143(3)Section 2(14)(iii)

…cial precedence is the ratio decidendi, the principle of law laid down, and not the decision per se, law on which is again well-settled (The Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC); Sree Bhagavathi Textiles Ltd. v. CIT[2000] 244 ITR 496 (Ker)). This also explains the decisions one way or the other by the Tribunal. And, further, non-interference by the Hon'ble jurisdictional High Court in the matters referred to it, viz. in Sreedhar Ashok Kumar vs. CIT (in ITA No. 251/2014 dated 11.12.2017) [reported at [2017] 253 Taxman 204 (Ker)] and Pr. CIT vs. Seena Jojy (in ITA No. 118 of 20…

KOLLAD SERVICE CO-OP BANK LTD,KOTTAYAM vs. ITO WARD 2 , KOTTAYAM

In the result, all the appealsare allowed

ITA 95/COCH/2023[2019-20]Status: DisposedITAT Cochin25 Sept 2023AY 2019-20

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

Section 139Section 139(1)Section 142Section 143(1)(a)Section 80Section 80ASection 80P

…ituting their ratio decidendi, that constitute the judicial precedence, and toward which aspect, though well-settled, we may refer to the decisions in Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC) and Shri Bhagavati Textiles Ltd v. CIT [2000] 244 ITR 496 (Ker): (i) Taxing statutes, more so exemption provisions, are to strictly construed; (ii) section 80AC of the Act is mandatory in character; (iii) the charging and computation provisions form an integral part, so that in the absence of the latter, the former would fail; (iv) section 143(1)(a)(v) of the Act, prior to its amendment by Finance Act,…

M/S OLAVANNA SERVICE CO-OP BANK,KOZHIKODE vs. THE ITO WARD 2(3), KOZHIKODE

In the result, all the appealsare allowed

ITA 47/COCH/2023[2019-20]Status: DisposedITAT Cochin25 Sept 2023AY 2019-20

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

Section 139Section 139(1)Section 142Section 143(1)(a)Section 80Section 80ASection 80P

…ituting their ratio decidendi, that constitute the judicial precedence, and toward which aspect, though well-settled, we may refer to the decisions in Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC) and Shri Bhagavati Textiles Ltd v. CIT [2000] 244 ITR 496 (Ker): (i) Taxing statutes, more so exemption provisions, are to strictly construed; (ii) section 80AC of the Act is mandatory in character; (iii) the charging and computation provisions form an integral part, so that in the absence of the latter, the former would fail; (iv) section 143(1)(a)(v) of the Act, prior to its amendment by Finance Act,…

THACHANATTUKARA FARMERS PRODUCERS COMPANY,PALAKKAD vs. ITO WARD 1, PALAKKAD

In the result, all the appealsare allowed

ITA 995/COCH/2022[2019-20]Status: DisposedITAT Cochin25 Sept 2023AY 2019-20

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

Section 139Section 139(1)Section 142Section 143(1)(a)Section 80Section 80ASection 80P

…ituting their ratio decidendi, that constitute the judicial precedence, and toward which aspect, though well-settled, we may refer to the decisions in Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC) and Shri Bhagavati Textiles Ltd v. CIT [2000] 244 ITR 496 (Ker): (i) Taxing statutes, more so exemption provisions, are to strictly construed; (ii) section 80AC of the Act is mandatory in character; (iii) the charging and computation provisions form an integral part, so that in the absence of the latter, the former would fail; (iv) section 143(1)(a)(v) of the Act, prior to its amendment by Finance Act,…

TIME ADS & PUBLICITY,KOCHI vs. ACIT CIRCLE 2(2), KOCHI

In the result, the appeal by the Revenue is allowed for statistical purposes, and the assessee’s appeal is dismissed

ITA 27/COCH/2023[2008-09]Status: DisposedITAT Cochin28 Aug 2023AY 2008-09

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

For Appellant: Shri Rajiv Khandelwal, CAFor Respondent: Shri Sajit Kumar Das, CIT-DR
Section 143(3)Section 40

…ning the rationale or the principle governing the decision that constitutes the binding precedent. Reference in this context may be made to Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC), as well as to Shri Bhagavati Textiles Ltd v. CIT [2000] 244 ITR 496 (Ker). 3.2 We, next, consider the decision by the Tribunal in Teja Construction (supra), relied upon by the ld.CIT(A). The same not being dealt with by the Tribunal per it’s order dated 31.7.2013, was noted by the Hon'ble Court per it’s order on 03.7.2014 (at para 16). The said order by the Tribunal, reproduced by the ld.CIT(A) at para 6.1 of hi…

ACIT, ERNAKULAM vs. M/S.TIME ADS & PUBLICITY, COCHIN

In the result, the appeal by the Revenue is allowed for statistical purposes, and the assessee’s appeal is dismissed

ITA 226/COCH/2012[2008-09]Status: DisposedITAT Cochin28 Aug 2023AY 2008-09

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

For Appellant: Shri Rajiv Khandelwal, CAFor Respondent: Shri Sajit Kumar Das, CIT-DR
Section 143(3)Section 40

…ning the rationale or the principle governing the decision that constitutes the binding precedent. Reference in this context may be made to Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC), as well as to Shri Bhagavati Textiles Ltd v. CIT [2000] 244 ITR 496 (Ker). 3.2 We, next, consider the decision by the Tribunal in Teja Construction (supra), relied upon by the ld.CIT(A). The same not being dealt with by the Tribunal per it’s order dated 31.7.2013, was noted by the Hon'ble Court per it’s order on 03.7.2014 (at para 16). The said order by the Tribunal, reproduced by the ld.CIT(A) at para 6.1 of hi…

COCHIN PORT AUTHORITY ( FORMERLY COCHIN PORT TRUST),KOCHI vs. DCIT NON CORPORATE CIRCLE 2(1), KOCHI, KOCHI

In the result, the assessee’s appeal is partly allowed

ITA 655/COCH/2022[2017-2018]Status: DisposedITAT Cochin10 Jul 2023AY 2017-2018

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Appellant: Sri.Gopi K, CAFor Respondent: Sri.Sajit Kumar Das, CIT-DR
Section 143(3)Section 2(24)(x)Section 260ASection 263Section 36(1)(iv)Section 36(1)(va)Section 43B

…52 (SC); Santosh Hazari v. Purushottam Tiwari [2001] 251 ITR 84 (SC)), so that the principle of law laid down therein, and on the basis of which the said question stands answered, constitutes a binding judicial precedent (Sree Bhagavathi Textiles Ltd. v. CIT, 244 ITR 496 (Ker)).The Hon'ble Apex Court has since set at rest the controversy per its decision dated 12/10/2022 in Checkmate Services Pvt. Ltd. v. Pr. CIT(in Civil Appeal No.2833 of 2016), which itself shows, if it was required to be, 2 Cochin Port Authority v. Dy. CIT that it’s decision in Vinay Cements Ltd. (supra) was not on the point. We find no scope…

INFINITI RETAIL LTD ,MUMBAI vs. CHIEF CIT (OSD) (I/C. PR. CIT - 2 ), MUMBAI

In the result, appeal of the assessee is allowed

ITA 3685/MUM/2019[2013-14]Status: DisposedITAT Mumbai31 Oct 2022AY 2013-14
Section 115JSection 143(3)Section 263Section 32(1)

…Supreme Court where the issue in question has already been decided by the Supreme Court. Some of these decisions have been listed as under: a. Doris Educational & Commercial Services (P) Ltd (332 TTR 528) (Madhya Pradesh HC) b. Shree Bhagavathi Textiles Ltd (244 ITR 496) (Kerala HC) c. Gujrat Alkalies & Chemicals Ltd (77 TT) 304) (Ahmedabad Tribunal)  It is submitted that given that the decisions of the Supreme Court are binding on all courts in India and is law of the land, the principles laid down by the Supreme Court in the case of Smifs Securities Limited i.e a. Goodwill is an asset under Section 32 of the…

SMT. AMITA NARANG,DELHI vs. THE DY COMMISSIONER OF INCOME TAX, JAMMU

In the result, the assessee’s appeal is dismissed

ITA 385/ASR/2016[2007-08]Status: DisposedITAT Amritsar25 Mar 2019AY 2007-08

Bench: Sh. Sanjay Arorai.T.A. No. 385/Asr/2016 Assessment Year: 2007-08

For Appellant: Sh. K. R. Jain (Adv.)For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 45Section 48

…e said decision, both being for the purpose of retaining or holding the asset. The said decision, thus, with respect, is in contradiction of the ratio – stated hereinabove, laid down thereby, which alone is binding (Sree Bhagavathi Textiles Ltd. v. CIT [2000] 244 ITR 496 (Ker)), as well as that by the several judicial precedents, including the two decisions followed by the Hon’ble Court, viz. Fort Gloster Industries Ltd. (supra) and Habib Hussein (supra). 5 Amita Narang v. Dy. CIT 4.4 The question of change in the cost of acquisition, subsequent thereto, has been considered at length by the Apex Court in Sahara…