JAMES KUDAKUTHIYIL CHACKO,KERALA vs. DCIT, INTERNATIONAL TAXATION CIRCLE, TRIVANDRUM

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Soundararajan K.

capital gain to the tune of Rs.52,96,329/- in respect of Edapally property and levied penalty @ 100% tax sought

JAMES KUDAKUTHIYIL CHACKO,KERALA vs. DCIT, INTERNATIONAL TAXATION CIRCLE, TRIVANDRUM

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Soundararajan K.

capital gain to the tune of Rs.52,96,329/- in respect of Edapally property and levied penalty @ 100% tax sought

PALAKKAL KRISHNANKUTTY RAGHAVAN,THRISSUR vs. INCOME TAX OFFICER, GURUVAYOOR

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Soundararajan K.

capital gains. Subsequently, the AO also proposed to impose penalty u/s. 270A of the Act for which also the assessee

PALAKKAL KRISHNANKUTTY RAGHAVAN,THRISSUR vs. INCOME TAX OFFICER, GURUVAYOOR

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Soundararajan K.

capital gains. Subsequently, the AO also proposed to impose penalty u/s. 270A of the Act for which also the assessee

MR. RANJITH THAZHE KUNHAMBATH,ERNAKULAM vs. ITO, WARD 3(3), NON CORPORATE RANGE 2, KOCHI

In the result, the appeal is allowed in favour of the assessee and the stay petition is dismissed as infructuous

Bench: Shri George George K & Ms. Padmavathy S

capital gain Rs. 27,710/- on sale of 1900 shares of Indian Company was not declared in the return of income. The assessee filed a rectification petition before the AO for the reason that while the perquisite value of ESOP is added to assessed income, the credit for the TDS on ESOP was not given

CHRISTUDANAM YASSAYA,THIRUVANANTHAPURAM vs. ITO, WARD 1(1), THIRUVANANTHAPURAM

In the result, the appeal filed by the assessee stands dismissed

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2011-12 Christudanam Yassaya .......... Appellant Bathel Kp 17A Maruthoor, Vattapara P.O. Thiruvananthapuram 695028 [Pan: Acmpy4412C] Vs. The Income Tax Officer, Ward-1(1) .......... Respondent Aayakar Bhavan, Kowdiar Thiruvananthapuram 695003

capital gain on sale of property at Rs. 32,42,980/-. On the above addition the AO initiated penalty proceedings

RIYAS NELLIYOTE,KUTTIADI vs. ACIT, CIRCLE -2(1), KOZHIKODE

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

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

penalty imposed u/s.271(1)(c) is illegal and may be cancelled.” 4. Brief facts of the case are as follows: The assessee an individual. For the assessment year (AY) 2015- 2016, the assessment was completed u/s.143(3) r.w.s. 147 of the Act by making addition to the capital gains

VERAMBALLY THAZHIKUNIYIL VINODAN,KOZHIKODE vs. THE JOINT COMMISSIONER OF INCOME TAX, KOCHI

In the result, the appeal filed by the assessee is dismissed\nOrder pronounced in the open court on 06th August, 2025

capital gain in the return\nof income u/s 139(1) by showing the actual sale consideration of Rs.\n13,72,99,000/-. Therefore, the ratio of the decision of the Hon'ble\nKerala High Court in the case of CIT vs. M/sAl-Ameen Educational\nTrust in ITA Nos. 199 & 203/2013, dt. 13/03/2018 is squarely\napplicable as the assessee failed to show

DY.CIT, CIRCLE 1(1) & TPS, THRISSUR, THRISSUR vs. ARUN MAJEED, THRISSUR

In the result, the appeal filed by the Revenue stands allowed

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm Assessment Year: 2013-14 Dy. Cit, Circle 1(1) & Tps, Thrissur .......... Appellant [Pan: Adopa9351R] Vs. Arun Majeed .......... Respondent Palak Velyannur Temple Road Veliyannur, Thrissur 680021 Appellant By: Smt. Leena Lal, Sr. D.R. Respondent By: ------- None ------- Date Of Hearing: 05.06.2025 Date Of Pronouncement: 31.07.2025

Capital gain Rs. 8,74,837 ii) Profit from land sale Rs. 10,66,19,832 iii) Rent Rs. 1,08,000 iv) Credits in FB Olarikkara Rs. 3,74,61,047 v) Credits in YES Bank Rs. 1,00,00,000 vi) Cash Deficit Rs. 47,03,300 vii) Inflation of expenses Rs. 5,97,259 viii) Undisclosed discount

SRI UMA MAHESHWARA RAO CHINNI,GUNTUR vs. ASST COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, KOZHIKODE

In the result, the instant appeals by the assesses are dismissed

Bench: Shri Sanjay Arora & Shri Manomohan Dasuma Maheshwara Rao Chinni Asst. Cit, Central Circle -1, Hno. 7-298, 7 Ward Aayakar Bhavan (North Block) Gandhi Bomma Centre Vs. Kozhikode 673001 Dachepalle, Guntur 522414 [Pan:Arjpc0342D] (Appellant) (Respondent)

capital gains. It does not mean, as being understood by the assessee, that the source need not be specified or, in any case, the same is itself a source! How ITA No. 895, 899/Coch/2022 (AY : 2017-18) Uma Maheshwara Rao Chinni & Anr. v. Asst. CIT could that be? That would be putting the cart before the horse. Even as explained

SRI SRAVAN KUMAR NEELA,NALGONDA vs. ACIT CENTRAL CIRCLE 1, KOZHIKODE

In the result, the instant appeals by the assesses are dismissed

Bench: Shri Sanjay Arora & Shri Manomohan Dasuma Maheshwara Rao Chinni Asst. Cit, Central Circle -1, Hno. 7-298, 7 Ward Aayakar Bhavan (North Block) Gandhi Bomma Centre Vs. Kozhikode 673001 Dachepalle, Guntur 522414 [Pan:Arjpc0342D] (Appellant) (Respondent)

capital gains. It does not mean, as being understood by the assessee, that the source need not be specified or, in any case, the same is itself a source! How ITA No. 895, 899/Coch/2022 (AY : 2017-18) Uma Maheshwara Rao Chinni & Anr. v. Asst. CIT could that be? That would be putting the cart before the horse. Even as explained

SHRI.PRAKASH R. NAIR,KOLLAM vs. DCIT, KOLLAM

In the result, the assessee’s appeal is partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Dasprakash R. Nair Dy.Cit, Central Circle Prop. Dhanya Foods Kollam Kochuppilammoodu Vs. Kollam 691001 [Pan:Abfpn4424P] (Appellant) (Respondent)

gain of the business. As such, where the accounts are prepared without disclosing the real cost of the goods in trade, he is duty bound to determine the taxable income by making computation in the manner he deems fit. Given the clear law in the matter, the issue becomes principally factual, wholly unproved. In our clear view, therefore, the Tribunal

SRI HARIKUTTAN T,KAYAMKULAM vs. INCOME TAX OFFICER WARD 2, ALLEPPEY

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

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember Harikuttan T. The Income Tax Officer (2) 1, Edayilaveetil Tharayil Aayakar Bhavan Njakkanal P.O., Pathiyoor Vs. Alappuzha Co0Llectorate Kayalmulam 690533 Alappuzha 688011 [Pan:Alrpt7536J] (Appellant) (Respondent) Appellant By: Shri M.S. Venkitachalam, Ca Respondent By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing:08.08.2023 Date Of Pronouncement:03.11.2023 O R D E R Per Sanjay Arora, Am This Is An Appeal By Assessee Challenging The Confirmation Of Penalty Levied Under Section 270A Of The Income Tax Act, 1961 (The Act) For Assessment Year (Ay) 2017-18 Vide Order Dated 17/02/2022, By The First Appellate Authority, Being The Commissioner Of Income Tax, Nfac [Cit(A)] Vide It’S Order Dated 06.07.2022. 2.1 The Brief Background Facts Of The Case Are That The Assessee, A Retired Defence Personnel, Is A Registered Money Lender Under The Kerala Money Lenders Act (Kml Act), Lending Money On Interest Against Mortgage Of Loan. For The Relevant Year He Returned, Besides Pension, Income From This Business At Rs.2,05,691. On Verification, It Was Found By The Assessing Officer (Ao) That The Assessee Was Maintaining Six Bank Accounts, I.E., Three Each With Two Banks, Being South Indian Bank (Sib) & State Bank Of India (Sbi). Transactions With The Former Were Undisclosed. The Reason Explained Was That The Gold Pawned By His Customers With Him For Availing Loan, Was In Turn Mortgaged With This Bank To Source Funds For Further Lending. These

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". Explanation 1.—For the removal of doubts, it is hereby declared that any expenditure incurred by an assessee

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company