M/S POPULAR FINANCE COMPANY,PATHANAMTHITTA vs. THE ACIT,CIR-1,, THIRUVALLA

In the result, the appeals of the Revenue are partly allowed for statistical purposes

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

capital borrowed for the purpose of business or profession, therefore, proposal to apply provisions of section 37(1), which is obviously a general provision for all expense, is unreasonable and unsustainable in law. 5. Attention is invited to the original assessment order passed by the AO, wherein he made necessary enquiries and verifications while framing the same. Hence order under

THE ACIT, CIRCLE-1, THIRUVALLA, THIRUVALLA vs. MAR GREGORIOUS MEMORIAL MUTHOOT MEDICAL CENTRE, PATHANAMTHITTA

In the result, the appeals of the Revenue are partly allowed for statistical

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

capital I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 account. However, this balance sheet had negatived the advance loan to the extent of Rs. 13,88,28,243/-. The categorical finding of the CIT (Appeals) has not been controverted by the Revenue that on every transaction entered into by the respondent-Assessee, he has charged the interest. The interest-free

DCIT, THIRUVALLA vs. MAR GREGORIOUS MEMORIAL MUTHOOT MEDICAL CENTRE, KOZHENCHERRY

In the result, the appeals of the Revenue are partly allowed for statistical

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

capital I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 account. However, this balance sheet had negatived the advance loan to the extent of Rs. 13,88,28,243/-. The categorical finding of the CIT (Appeals) has not been controverted by the Revenue that on every transaction entered into by the respondent-Assessee, he has charged the interest. The interest-free

DCIT, THIRUVALLA vs. MUTHOOT PROPERTIES & INVESTMENTS,, KOZHENCHERRY

In the result, the appeals of the Revenue are partly allowed for statistical

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

capital I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 account. However, this balance sheet had negatived the advance loan to the extent of Rs. 13,88,28,243/-. The categorical finding of the CIT (Appeals) has not been controverted by the Revenue that on every transaction entered into by the respondent-Assessee, he has charged the interest. The interest-free

DCIT, THIRUVALLA vs. MAR GREGORIOUS MEMORIAL MUTHOOT MEDICAL CENTRE, KOZHENCHERRY

In the result, the appeals of the Revenue are partly allowed for statistical

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

capital I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 account. However, this balance sheet had negatived the advance loan to the extent of Rs. 13,88,28,243/-. The categorical finding of the CIT (Appeals) has not been controverted by the Revenue that on every transaction entered into by the respondent-Assessee, he has charged the interest. The interest-free

THE ACIT, THIRUVALLA vs. M/S.MUTHOOT PROPERTIES & INVESTMENTS, KOZHENCHERRY

In the result, the appeals of the Revenue are partly allowed for statistical

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

capital I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 account. However, this balance sheet had negatived the advance loan to the extent of Rs. 13,88,28,243/-. The categorical finding of the CIT (Appeals) has not been controverted by the Revenue that on every transaction entered into by the respondent-Assessee, he has charged the interest. The interest-free

DCIT, THIRUVALLA vs. MAR GREGORIOUS MEMORIAL MUTHOOT MEDICAL CENTRE, KOZHENCHERRY

In the result, the appeals of the Revenue are partly allowed for statistical

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

capital I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 account. However, this balance sheet had negatived the advance loan to the extent of Rs. 13,88,28,243/-. The categorical finding of the CIT (Appeals) has not been controverted by the Revenue that on every transaction entered into by the respondent-Assessee, he has charged the interest. The interest-free

THE ACIT, THIRUVALLA vs. M/S.MUTHOOT PROPERTIES & INVESTMENTS, KOZHENCHERRY

In the result, the appeals of the Revenue are partly allowed for statistical

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

capital I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 account. However, this balance sheet had negatived the advance loan to the extent of Rs. 13,88,28,243/-. The categorical finding of the CIT (Appeals) has not been controverted by the Revenue that on every transaction entered into by the respondent-Assessee, he has charged the interest. The interest-free

DCIT, ALAPPUZHA vs. M/S ACEELERATED FREEZE DRYING CO, LTD, ALAPPUZHA

In the result, the appeal of the Revenue is allowed and the appeal of the

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

1. The Officers below are not justified in confirming the addition of Rs.2,07,99,000/- u/s.43B being interest accrued on loans from Banks/Financial Institutions for the reason that this has not been paid before the due date of filing the return. 2) The Officers failed to appreciate the fact that such interest has been waived by the Bank/Financial Institutions

ACEELERATED FREEZE DRYING CO.LTD,ALAPPUZHA vs. DCIT, ALAPPUZHA

In the result, the appeal of the Revenue is allowed and the appeal of the

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

1. The Officers below are not justified in confirming the addition of Rs.2,07,99,000/- u/s.43B being interest accrued on loans from Banks/Financial Institutions for the reason that this has not been paid before the due date of filing the return. 2) The Officers failed to appreciate the fact that such interest has been waived by the Bank/Financial Institutions

ROSE GEORGE KOLLANUR,THRISSUR vs. ITO WARD 2(2), THRISSUR, THRISSUR

In the result, the appeal by the assessee is allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sassessment Year : 2014-15

capital gain account scheme in a case where the amount is utilised fully towards purchase/construction of the new asset within the time limit as specified in section 54F. In this regard, the ld. AR relied on the decision of Karnataka High Court in the case of CIT v. K. Ramachandra Rao, ITA No.74/2014. 4. The ld. DR relied

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

13. Next question that is required to be determined by us is applicability of section 48 and section 50 of the Act. The provisions of section 48 provides for the method of computation of income chargeable under the head capital gains. Provisions of section 48 stipulates that the income chargeable under the head ‘capital gains’ shall be computed by deducting

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

1),theargument before the Supreme Court was arising out of the return of income of the assessee. The amountreceived by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into in the year

SRI.JOSE THOMAS,ADOOR vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

1),theargument before the Supreme Court was arising out of the return of income of the assessee. The amountreceived by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into in the year

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

1),theargument before the Supreme Court was arising out of the return of income of the assessee. The amountreceived by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into in the year

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

In the result, the appeals of the assessesin ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

1),theargument before the Supreme Court was arising out of the return of income of the assessee. The amountreceived by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into in the year

SRI.JOSE THOMAS,ADOOR vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

1),theargument before the Supreme Court was arising out of the return of income of the assessee. The amountreceived by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into in the year

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

1),theargument before the Supreme Court was arising out of the return of income of the assessee. The amountreceived by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into in the year