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99 results for “capital gains”+ Section 10(35)clear

Sorted by relevance

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Key Topics

Section 250114Section 143(3)44Section 153A28Section 153C20Section 13218Section 14A18Section 143(2)15Disallowance15Section 14712Addition to Income

SRI.JOSE THOMAS,ADOOR P.O., PATHANAMTHITTA vs. THE ACIT,CEN-CIRCLE, KOTTAYAM

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

ITA 211/COCH/2019[2009-10]Status: DisposedITAT Cochin22 May 2025AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

For Appellant: Sri.Anil D.Nair, AdvocateFor Respondent: Sri.Sundarasan S, CIT-DR
Section 132Section 143(3)Section 153ASection 153C

35 lacs. That sum was credited to the reserve and surplus account, which was disallowed by the Assessing Officer, holding that it was income from other sources. The assessee appealed to the Commissioner, who came to the conclusion that the assessee was liable to pay tax on capital gains on the amount of Rs.35 lacs after deducting an amount

Showing 1–20 of 99 · Page 1 of 5

12
Limitation/Time-bar8
Reassessment7

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

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

ITA 207/COCH/2019[2009-10]Status: DisposedITAT Cochin22 May 2025AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

For Appellant: Sri.Anil D.Nair, AdvocateFor Respondent: Sri.Sundarasan S, CIT-DR
Section 132Section 143(3)Section 153ASection 153C

35 lacs. That sum was credited to the reserve and surplus account, which was disallowed by the Assessing Officer, holding that it was income from other sources. The assessee appealed to the Commissioner, who came to the conclusion that the assessee was liable to pay tax on capital gains on the amount of Rs.35 lacs after deducting an amount

SRI.JOSE THOMAS,ADOOR P.O., PATHANAMTHITTA vs. THE ACIT,CEN-CIRCLE, KOTTAYAM

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

ITA 212/COCH/2019[2010-11]Status: DisposedITAT Cochin22 May 2025AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

For Appellant: Sri.Anil D.Nair, AdvocateFor Respondent: Sri.Sundarasan S, CIT-DR
Section 132Section 143(3)Section 153ASection 153C

35 lacs. That sum was credited to the reserve and surplus account, which was disallowed by the Assessing Officer, holding that it was income from other sources. The assessee appealed to the Commissioner, who came to the conclusion that the assessee was liable to pay tax on capital gains on the amount of Rs.35 lacs after deducting an amount

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

ITA 208/COCH/2019[2009-10]Status: DisposedITAT Cochin22 May 2025AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

For Appellant: Sri.Anil D.Nair, AdvocateFor Respondent: Sri.Sundarasan S, CIT-DR
Section 132Section 143(3)Section 153ASection 153C

35 lacs. That sum was credited to the reserve and surplus account, which was disallowed by the Assessing Officer, holding that it was income from other sources. The assessee appealed to the Commissioner, who came to the conclusion that the assessee was liable to pay tax on capital gains on the amount of Rs.35 lacs after deducting an amount

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

ITA 209/COCH/2019[2010-11]Status: DisposedITAT Cochin22 May 2025AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

For Appellant: Sri.Anil D.Nair, AdvocateFor Respondent: Sri.Sundarasan S, CIT-DR
Section 132Section 143(3)Section 153ASection 153C

35 lacs. That sum was credited to the reserve and surplus account, which was disallowed by the Assessing Officer, holding that it was income from other sources. The assessee appealed to the Commissioner, who came to the conclusion that the assessee was liable to pay tax on capital gains on the amount of Rs.35 lacs after deducting an amount

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

ITA 609/COCH/2017[2013-14]Status: DisposedITAT Cochin01 Sept 2025AY 2013-14

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

For Appellant: Shri Abraham Joseph Markos, AdvFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 115JSection 143(3)Section 32Section 32(1)(iia)Section 35Section 43(1)Section 92C

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

MR.P.C.JOSE,,COCHIN vs. DCIT, COCHIN

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

ITA 54/COCH/2012[2008-09]Status: DisposedITAT Cochin23 Apr 2024AY 2008-09

Bench: Shri Sanjay Arora & Shri Manomohan Dasp.C. Jose Deputy Commissioner Of Prop. Brothers Agencies Income Tax, Circle-2(1) Jews Street Vs. Kochi Ernakulam 682031 [Pan: Abbpj8250F] (Appellant) (Respondent) Deputy Commissioner Of P.C. Jose Income Tax, Circle-2(1) Prop. Brothers Agencies Kochi Vs. Jews Street Ernakulam 682031 [Pan: Abbpj8250F] (Appellant) (Respondent)

For Appellant: ----- None -----For Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 143(3)

section 143(3) of the Income Tax Act, 1961 (‘the Act’ hereinafter) dated 29.12.2010 for Assessment Year (AY) 2008-09. ITA Nos. 54& 84/Coch/2012 (AY: 2008-09) P.C. Jose v. Dy CIT / Dy. CIT v. P.C. Jose Ex-parte Order 2. The appeals were heard at length on 10.08.2023, covering all the issues, including the principal one, being the assessment

M/S.KANNAN DEVAN HILLS PLANTATIONS COMPANY P. LTD,IDUKKI vs. THE ACIT, COCHIN

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

ITA 27/COCH/2020[2016-17]Status: DisposedITAT Cochin30 Mar 2023AY 2016-17

Bench: SMT. BEENA PILLAI (Judicial Member), MS. PADMAVATHY S (Accountant Member)

For Appellant: Smt. Rohini Thampy, CA
Section 10Section 10(30)Section 30Section 801ASection 80I

10 of 17 Appellate Tribunal under section 254 of the Income Tax Act, 1961. There shall be no order as to costs.” 4.9 We therefore direct the Ld.AO to compute the benefit as per Rule 8 on the subsidy received towards manufacture of orthodox tea. Accordingly, Ground no. 1 raised by assessee stands allowed. 5. Ground no. 2 relates

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

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

ITA 84/COCH/2012[2008-09]Status: DisposedITAT Cochin18 Mar 2025AY 2008-09

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

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sanjit Kumar Das &
Section 143(3)Section 2(14)(iii)Section 40

35,80,550/-. In the year of purchase of these lands, the appellant had shown the purchase consideration as advance and shown investment in the property under the head “loans and advances”. It was claimed that the lands sold were agricultural both at the time of purchase and as well as sale and the land was not situated within

THE KERALA MINERALS AND METALS LIMITED,KOLLAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, KOLLAM

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

ITA 918/COCH/2024[2007-08]Status: DisposedITAT Cochin16 May 2025AY 2007-08

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am Assessment Year: 2007-08 The Kerala Minerals & Metals Ltd. .......... Appellant Sankaramangalam, Chavara, Kollam 691583 [Pan: Aaact8118R] Vs. Asst. Commissioner Of Income Tax .......... Respondent Circle - 1, Kollam Appellant By: Shri Rajeev R., Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 13.05.2025 Date Of Pronouncement: 16.05.2025

For Appellant: Shri Rajeev R., CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)

35 and 35A to 35E. 24. Section 37(1) states that any expenditure laid out or expended wholly and exclusively for the purpose of business or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". But, Section 37 (1) excludes three items of expenditure. They are (i) expenditure

GOOD HOMES PVT LTD,KOCHI vs. DEPUTY COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1(1), KOCHI

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

ITA 884/COCH/2022[2007-08]Status: DisposedITAT Cochin11 Aug 2023AY 2007-08

Bench: Shri Sanjay Arora, Am &Shriabyt.Varkey, Jm

For Appellant: Sri.A.Gopalakrishnan, CAFor Respondent: Smt.J.M.Jamuna Devi, Sr.AR
Section 133ASection 147Section 148

section 147 r.w.s. 143(3) of the Income-tax Act, 1961 (hereinafter ‘the Act’) dated 18.3.2015 and 29.3.2014 for assessment year (AY) 2007-2008, respectively. The background facts of both the cases being same, these are heard together, and are being disposed of pera common, consolidated order for the sake of convenience. ITA Nos.870& 884 /Coch/2022 (AY 2007-08) Ajit

AJIT ASSOCIATES PRIVATE LIMITED,ERNAKULAM vs. JCIT, CORPORATE RANGE - 1, KOCHI

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

ITA 870/COCH/2022[2007-08]Status: DisposedITAT Cochin11 Aug 2023AY 2007-08

Bench: Shri Sanjay Arora, Am &Shriabyt.Varkey, Jm

For Appellant: Sri.A.Gopalakrishnan, CAFor Respondent: Smt.J.M.Jamuna Devi, Sr.AR
Section 133ASection 147Section 148

section 147 r.w.s. 143(3) of the Income-tax Act, 1961 (hereinafter ‘the Act’) dated 18.3.2015 and 29.3.2014 for assessment year (AY) 2007-2008, respectively. The background facts of both the cases being same, these are heard together, and are being disposed of pera common, consolidated order for the sake of convenience. ITA Nos.870& 884 /Coch/2022 (AY 2007-08) Ajit

ELIZABETH JOSE,ERNAKULAM vs. DCIT, CORPORATE CIRCLE 1(1), ERNAKULAM

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

ITA 522/COCH/2025[2016-17]Status: DisposedITAT Cochin11 Aug 2025AY 2016-17

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2016-17 Elizbeth Jose .......... Appellant Choice House, P.V. Sreedharan Road Kumbalam, Ernakulam 682506 [Pan: Acfpj2569J] Vs. Dcit, Corporate Circle - 1(1), Kochi .......... Respondent Assessee By: ------- None ------- Revenue By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 06.08.2025 Date Of Pronouncement: 11.08.2025 O R D E R This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 12.06.2025 For Assessment Year (Ay) 2016-17. 2. Brief Facts Of The Case Are That The Appellant Is An Individual. The Return Of Income For Ay 2016-17 Was Filed On 03.08 Disclosing Total Income Of Rs. 14,71,400/- & Unabsorbed Short Term Capital Loss Of Rs. 35,89,251/-. Against The Said Return Of Income, The Assessment Was Completed By The National Faceless Assessment Centre (Hereinafter Called "The Ao") Vide Order Dated 18.12.2018 Passed U/S. 143(3) Of The Income Tax Act, 1961 (The Act) Accepting

For Appellant: ------- None -------For Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 147Section 148Section 2(47)

35,89,251/-. According to the AO, the cost of acquisition of the said flat is only Rs. 24,60,720/- plus cost of registration of Rs. 2,33,776/- The balance short term capital gain of Rs. 48,05,504/- was brought to tax. The AO further held that since the property was purchased from her husband only through

SRI.JOHN MATHEW N,ALAPPUZHA vs. THE ITO, WD-2, ALAPPUZHA, ALAPPUZHA

In the result, the appeal by the assessee is dismissed

ITA 81/COCH/2018[2001-02]Status: DisposedITAT Cochin24 Feb 2023AY 2001-02

Bench: Shri Sanjay Arora & Shri Sandeep Gosainshri John Mathew N. The Income Tax Officer Neroth House Ward - 2, Alleppey Vs. No. 1, Jubilee Road Alappuzha [Pan: Acupm8885D] Appellant Respondent Appellant By: Shri Anil D. Nair & Shri P.K. Biju, Advocates Respondent By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 03.02.2023 Date Of Pronouncement: 24.02.2023 O R D E R Per Bench This Appeal By The Assessee Challenges The Validity Of The Reassessment Under Section 147 Read With Section 143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) Dated 20.11.2007 For Assessment Year (Ay) 2001-02, Since Upheld In First Appeal Vide Order Dated 24.01.2018 By The Commissioner Of Income Tax (Appeals), Kottayam (‘Cit(A)’ For Short). 2.1 At The Outset, Shri Anil D. Nair, The Ld. Counsel For The Assessee-Appellant, Would Submit That The Basis Of The Assessee’S Challenge Is Two-Fold: (A) Non-Supply Of The Reasons Recorded; & (B) True & Full Disclosure Of All Material Facts Relating To The Income Escaping Assessment By The Assessee Per His Return Of Income.

For Appellant: Shri Anil D. Nair &For Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(2)Section 143(3)Section 147Section 148(2)Section 230ASection 234B

section 143(3) of the Income Tax Act, 1961 (‘the Act’ hereinafter) dated 20.11.2007 for assessment year (AY) 2001-02, since upheld in first appeal vide Order dated 24.01.2018 by the Commissioner of Income Tax (Appeals), Kottayam (‘CIT(A)’ for short). 2.1 At the outset, Shri Anil D. Nair, the ld. counsel for the assessee-appellant, would submit that

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

ITA 75/COCH/2015[2009-10]Status: DisposedITAT Cochin11 Aug 2023AY 2009-10

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

For Appellant: Sri. Rajakannan, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr.AR
Section 11Section 11(1)Section 12ASection 143(3)Section 2(15)

capital assets, on which the same stands claimed, had already been allowed in full by way of application of income on the deployment of funds on their acquisition. The same, though a part of the statute w.e.f. AY 2015-2016 [s.11(6)] inasmuch as it amounts to a double relief, stands disapproved by the Hon'ble Apex Court

INFOPARKS KERALA,COCHIN vs. THE ACIT, COCHIN

In the result, the assessee’s appeals are partly allowed

ITA 77/COCH/2015[2011-12]Status: DisposedITAT Cochin11 Aug 2023AY 2011-12

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

For Appellant: Sri. Rajakannan, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr.AR
Section 11Section 11(1)Section 12ASection 143(3)Section 2(15)

capital assets, on which the same stands claimed, had already been allowed in full by way of application of income on the deployment of funds on their acquisition. The same, though a part of the statute w.e.f. AY 2015-2016 [s.11(6)] inasmuch as it amounts to a double relief, stands disapproved by the Hon'ble Apex Court

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

ITA 76/COCH/2015[2010-11]Status: DisposedITAT Cochin11 Aug 2023AY 2010-11

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

For Appellant: Sri. Rajakannan, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr.AR
Section 11Section 11(1)Section 12ASection 143(3)Section 2(15)

capital assets, on which the same stands claimed, had already been allowed in full by way of application of income on the deployment of funds on their acquisition. The same, though a part of the statute w.e.f. AY 2015-2016 [s.11(6)] inasmuch as it amounts to a double relief, stands disapproved by the Hon'ble Apex Court

RUCHIT PARIMAL ASHAR,SANALA ROAD, MORBI vs. ACIT, CENTRAL CIRLCE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

ITA 506/COCH/2024[2019-20]Status: DisposedITAT Cochin20 Dec 2024AY 2019-20

Bench: Shri Waseem Ahmed & Shri Soundararajan K

Section 250

10,000 shares at USD 2,000 each. The agreement outlined . ITA No.404 & others/Coch/2024 Page 24 of 165 the company’s intended business activities, identified the promoters, detailed management and board appointment procedures, and explained the profit distribution structure. 15.4 The Assessing Officer (AO) inferred from this document that the initial capital contributors in M/s ABC Mercantile FZC were

A B C SALES CORPORATION ,KANNUR vs. ITO, CIRCLE-1, KANNUR

In the result, appeal of the assessee is hereby dismissed

ITA 404/COCH/2024[2017-2018]Status: DisposedITAT Cochin20 Dec 2024AY 2017-2018

Bench: Shri Waseem Ahmed & Shri Soundararajan K

Section 250

10,000 shares at USD 2,000 each. The agreement outlined . ITA No.404 & others/Coch/2024 Page 24 of 165 the company’s intended business activities, identified the promoters, detailed management and board appointment procedures, and explained the profit distribution structure. 15.4 The Assessing Officer (AO) inferred from this document that the initial capital contributors in M/s ABC Mercantile FZC were

ABC SALES CORPORATION,KASARAGOD vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

ITA 439/COCH/2024[2017-2018]Status: DisposedITAT Cochin20 Dec 2024AY 2017-2018

Bench: Shri Waseem Ahmed & Shri Soundararajan K

Section 250

10,000 shares at USD 2,000 each. The agreement outlined . ITA No.404 & others/Coch/2024 Page 24 of 165 the company’s intended business activities, identified the promoters, detailed management and board appointment procedures, and explained the profit distribution structure. 15.4 The Assessing Officer (AO) inferred from this document that the initial capital contributors in M/s ABC Mercantile FZC were