MRS.GRACY BABU,ADOOR P.O., PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

2 SCC 460 held that all transactions encompassed by section 45 must fall within the computation provisions of section 48. If the computation as provided under section 48 could not be applied to a particular transaction, it must be regardedas "never intended by section 45 to be the subject of the charge". In that case, the court was considering whether

MRS.GRACY BABU,ADOOR P.O., PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

2 SCC 460 held that all transactions encompassed by section 45 must fall within the computation provisions of section 48. If the computation as provided under section 48 could not be applied to a particular transaction, it must be regardedas "never intended by section 45 to be the subject of the charge". In that case, the court was considering whether

MRS.REENA JOSE,PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE,, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

2 SCC 460 held that all transactions encompassed by section 45 must fall within the computation provisions of section 48. If the computation as provided under section 48 could not be applied to a particular transaction, it must be regardedas "never intended by section 45 to be the subject of the charge". In that case, the court was considering whether

THE ACIT, COCHIN vs. M/S.PVR TOURIST HOME, COCHIN

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm Assessment Year: 2012-13 Acit, Circle-1, Non-Corporate .......... Appellant Iind Floor, C.R. Building, I.S. Press Road Ernakulam 682018 Vs. Pvr Tourist Home .......... Respondent Palarivattom, Kochi 682025 [Pan: Aadfp3442Q] Appellant By: Shri Suresh Sivanandan, Cit-Dr Respondent By: Shri Mohan Pulickal, Advocate Date Of Hearing: 10.03.2025 Date Of Pronouncement: 21.03.2025

10 PVT Tourist Home r.w.s. 45(4) are computed. As applicability of section 50, on mere perusal of section 50 it is clear that the object behind enacting the provisions of section 50 is to compute the short term capital loss or the gains on sale of depreciable assets, sale of an asset when the asset is sold on which

SILLS KARINGATTIL JOSE,NEDUMKANDOM vs. ITO WARD 2, THODUPUZHA

Appeal is partly allowed for statistical purpose

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhsils Karingattil Jose Income Tax Officer Np 3/406, Karingattil Ward - 2, House, Munnar Road Thodupuzha Vs. Nedumkandom P.O. [Pan: Afopj8789C] (Appellant) (Respondent)

capital gain. 3. The transferee in the instant case, has complied none of the conditions specified under section 53A of the transfer of property Act during the year under reference, and the mere handing over the possession if any, did not itself cloth the transaction under the definition of "transfer" as envisaged under the Income tax Act. 4. The agreement

KUMAR MADHAVANPILLAI.S,THIRUVANANTHAPURAM vs. ITO, WARD-1(4), TRIVANDRUM

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Kumar Madhavanpillai S. Income Tax Officer -1(4) Chandra Press & Book Depot Aayakar Bhavan, Kowdiar P.O. Manjalikulam Road Thiruvananthapuram 695003 Vs. Thampanoor Thiruvananthapuram 695001 [Pan: Ajxps9299P] (Appellant) (Respondent)

10. The learned AR before us filed a paper book running from pages 1 to 66 and contended that the investment was made by the assessee in the residential property. Therefore, the same is eligible for deduction under section 50/54F of the Act. It was also contended by the learned AR that the depreciable assets, if the period of holding

K P MUHAMMED ALI,CALICUT vs. ITO ( INTERNATIONAL TAXATION), KOZHIKODE

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

Bench: Shri Sanjay Arora & Manomohan Dask.P. Muhammed Ali Income Tax Officer K.P. House: 19/1866 (International Taxation) Chalappuram Vs. Kozhikode Calicut 673002 [Pan:Agnpm9397F] (Appellant) (Respondent)

capital gains would be taxable in the year in which such transactions are entered into, even if the transfer of the immovable property is not effective or complete under the general law. Under section 2(47)(v) any transaction involving allowing of possession to be taken over or retained in part performance of a contract of the nature refer

THE DCIT,CEN-CIRCLE,, THRISSUR vs. SRI.T.G. CHANDRAKUMAR, THRISSUR

In the result, the Appeal by the Revenue is allowed on the aforesaid terms

Bench: Shri Sanjay Arora (Accountant Member), Shri Sandeep Gosain (Judicial Member)

2 | P a g e Dy. CIT v. T.G. Chandrakumar assessee for AY 2009-10 on the basis of the sale deed dated 28/05/2008, i.e., qua 107 cents of land, was sought to be assessed for AY 2007-08 for 50 cents on the basis of delivery of it’s possession during the relevant previous year. The transaction being admitted

SRI.K.P. JOHNY,THRISSUR vs. THE DCIT, CIRCLE-2(1), THRISSUR

In the result, both the assessee’s and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Dask.P. Johny Asst. Cit, Manappuram House Circle – 2(1) Hospital Road, Chalakkudy Aayakar Bhavan Vs. Thrissur 680307 Sakthan Thampuran Nagar [Pan:Acgpj4958G] Thrissur 680001 (Appellant) (Respondent) Asst. Cit, K.P. Johny Circle – 2(1) Manappuram House Aayakar Bhavan Hospital Road, Chalakkudy Vs. Sakthan Thampuran Nagar Thrissur 680307 Thrissur 680001 [Pan: Acgpj4958G] (Appellant) (Respondent)

section 133A of the Act at the business premises of one, Shri Ittoop Konuparamban, Chalakkudy, Thrissur, also the place of the assessee’s residence, on 13.03.2015, on the basis of the material impounded there-from and the subsequent statement of Shri Ittoop and, indeed, the assessee himself. The assessee, who had not filed any return of income for the year

THE DCIT, CIRCLE-2(1), THRISSUR vs. SRI.K.P. JOHNY, THRISSUR

In the result, both the assessee’s and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Dask.P. Johny Asst. Cit, Manappuram House Circle – 2(1) Hospital Road, Chalakkudy Aayakar Bhavan Vs. Thrissur 680307 Sakthan Thampuran Nagar [Pan:Acgpj4958G] Thrissur 680001 (Appellant) (Respondent) Asst. Cit, K.P. Johny Circle – 2(1) Manappuram House Aayakar Bhavan Hospital Road, Chalakkudy Vs. Sakthan Thampuran Nagar Thrissur 680307 Thrissur 680001 [Pan: Acgpj4958G] (Appellant) (Respondent)

section 133A of the Act at the business premises of one, Shri Ittoop Konuparamban, Chalakkudy, Thrissur, also the place of the assessee’s residence, on 13.03.2015, on the basis of the material impounded there-from and the subsequent statement of Shri Ittoop and, indeed, the assessee himself. The assessee, who had not filed any return of income for the year

REJI KRISHNAN,TRIVANDRUM vs. ITO, WARD-1(1), TRIVANDRUM

In the result, the appeal filed by the assessee is partly allowed and the stay application is dismissed as infructuous

Bench: Shri Chandra Poojari & Shri Soundararajan K

2 separate transactions of sale of Lands. Allowance of Commission Paid on House where 54F was Claimed (vii) Consequently the brokers commission paid for the reinvestment disallowed w/s S4F is incorrect and ought to be allowed. Disallowance of Document Writing Charges & Land Development Charges (viii) The Learned AO/CIT(A) has arbitrarily disallowed 90% & 80% of the expenses incurred towards Document

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

In the result, the Revenue’s appeal is allowed

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

gains, u/s. 2(14)(iii) defining ‘capital asset’, by including certain agricultural lands therein on the basis of their location and potential for non-agriculture user. 6.2 Our second observation is that the matter being principally factual, reference to any decision – both the parties relying before us on that favourable to them, would of limited relevance, what being even otherwise

ACIT, COCHIN vs. SRI.P.C.JOSE, COCHIN

In the result, appeal filed by the assessee stands allowed and Revenue’s appeal stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Keshav Dubey, Jm Assessment Year: 2008-09 P.C. Jose .......... Appellant Brothers Agencies, Jews Street Ernakulam 682031 [Pan: Abbpj8250F] Vs. Dy. Commissioner Of Income Tax .......... Respondent Circle - 2(1), Kochi Assessment Year: 2008-09 Dy. Commissioner Of Income Tax .......... Appellant Circle - 2(1), Kochi Vs. P.C. Jose .......... Respondent Brothers Agencies, Jews Street Ernakulam 682031 [Pan: Abbpj8250F] Assessee By: Shri R. Krishnan, Ca Revenue By: Shri Sanjit Kumar Das & Smt. Leena Lal, Sr. D.R. Date Of Hearing: 20.02.2025 Date Of Pronouncement: 18.03.2025 P.C. Jose

2,50,000/-. The AO had made an adhoc disallowance of 1/5th of the 8. expenditure claimed on selling and administrative expenses, on maintenance, travelling expenditure and car loan interest expenditure. The AO also disallowed professional fees paid to the P.C. Jose Auditor of Rs. 1,00,000/- for non-compliance of provisions of section

SMT. MARIES JOSEPH,THRISSUR vs. DCIT, INT. TAXATION, KOCHI, KOCHI

In the result, appeal in ITA No

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 45: Provided that nothing contained in this sub-section shall apply where— (a) the assessee,— (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset

SMT. MARIES JOSEPH,THRISSUR vs. DCIT, INT. TAXATION, KOCHI, KOCHI

In the result, appeal in ITA No

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 45: Provided that nothing contained in this sub-section shall apply where— (a) the assessee,— (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset

M/S.APOLLO TYRES LTD,COCHIN vs. THE PRINCIPAL COMMISSIONER OF INCOMETAX, COCHIN

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

Bench: Shri Inturi Rama Rao, Am & Shri Rahul Chaudhary, Jm Assessment Year: 2013-14 Apollo Tyres Ltd. .......... Appellant 3Rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036 [Pan: Aaaca6990Q] Vs. Dcit, Corporate Circle-1(1), Kochi ......... Respondent Assessee By: Shri Abraham Joseph Markos, Adv. Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 20.08.2025 Date Of Pronouncement: 01.09.2025

capital items can be only adjusted in terms of provisions section 43A of the Act. The loss or gain on such 30 Apollo Tyres Ltd. transaction had no impact on the determination of taxable income. Therefore, the AO had clearly fell in error in brining the same to tax in the year of reversal of the loss especially in view

THOMAS CHERIAN,THANE vs. DCIT CIRCLE INTL. TXN, DCIT CIRCLE INTL. TXN

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

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm Assessment Year: 2021-22 Thomas Cherian .......... Appellant A-2, Happy House, Sector A9, Navi Mumbai Vashi, Thane 400703 [Pan: Apjpc6676G] Vs. Dcit (International Taxation) .......... Respondent Thiruvananthapuram Appellant By: Shri Vardhaman Jain, Ca Respondent By: Smt. Veni Raj, Cit-Dr Date Of Hearing: 12.06.2025 Date Of Pronouncement: 31.07.2025

section 50C of the Act rejecting the contention of the appellant that it is agricultural land for want of proof of agricultural activities by the appellant. On receipt of the draft assessment order, objections were filed before the DRP contending that the property sold is agricultural land which is situated in rural area and earmarked as Jirayt land since

ELAVANCHALIL ABDUL BASHEER,KOZHIKODE vs. ITO, WARD-2(2), KOZHIKODE

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

Bench: Shri Inturi Rama Rao, Am & Shri Sandeep Singh Karhail, Jm Assessment Year: 2020-21 Elavanchalil Abdul Basheer .......... Appellant Oittannmakm, Koduvally, Kozhikode 673572 [Pan: Bbwpb4939D] Vs. The Income Tax Officer, Ward-2(2), Kozhikode .......... Respondent Appellant By: Shri C.B.M. Warrier, Ca Respondent By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 27.03.2024 Date Of Pronouncement: 14.05.2024 O R D E R Per: Inturi Rama Rao, Am This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 23.02.2024 For Assessment Year (Ay) 2020-21. 2. Brief Facts Of The Case Are That The Appellant Is An Individual Deriving Income Under The Head ‘Agriculture’. The Return Of Income For Ay 2020-21 Was Filed On 21.12.2020 Declaring Income Of Rs. 4,60,00,000/-. Against The Said Return Of Income, The Assessment Was Completed By The Income Tax Officer, Ward-2(2), Kozhokode

capital asset as defined under section 2(14)(iii) of the Act. Even then, if such lands are found to be situated within the distance specified in items (a) &(b) of section 2(14)(iii), then the gains arising on sale of such lands does not qualify for exemption from tax. 10