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111 results for “capital gains”+ Section 147clear

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Key Topics

Section 250118Section 143(3)35Section 14727Section 14826Section 153A20Addition to Income20Section 14A18Section 13215Section 143(2)13Reassessment

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

ITA 254/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Oct 2023AY 2014-15

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)

For Appellant: Shri T.M. Sreedharan, Sr. Advocate (with Smt. Divya Ravindran, Adv. with him)For Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 131(1)Section 133ASection 147Section 148(1)Section 69

147 read with s. 143(3) of the Income Tax Act, 1961 (hereinafter "the Act") dated 14.12.2017 for Assessment Year (AY) 2014-15. 2. The background facts of the case are that the assessee, a dealer in old vehicles, was issued and served a notice u/s.148(1) of the Act on 20.03.2017, consequent to the survey under section 133A

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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

ITA 206/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Oct 2023AY 2014-15

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)

For Appellant: Shri T.M. Sreedharan, Sr. Advocate (with Smt. Divya Ravindran, Adv. with him)For Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 131(1)Section 133ASection 147Section 148(1)Section 69

147 read with s. 143(3) of the Income Tax Act, 1961 (hereinafter "the Act") dated 14.12.2017 for Assessment Year (AY) 2014-15. 2. The background facts of the case are that the assessee, a dealer in old vehicles, was issued and served a notice u/s.148(1) of the Act on 20.03.2017, consequent to the survey under section 133A

RAMLA HAMEED,ALAPPUZHA vs. INCOME TAX OFFICER, ALAPPUZHA

The appeal of the assessee is allowed for statistical purposes with the direction that the Assessing

ITA 393/COCH/2025[2018-19]Status: DisposedITAT Cochin12 Aug 2025AY 2018-19

Bench: Shri Inturi Rama Rao & Shri Sonjoy Sarma

Section 143Section 147Section 148Section 48

147 of the Income-tax Act, 1961 (“the Act”) were initiated, and notice under Section 148 of the Act was issued. In response to the notice under Section 148, the assessee filed his return of income declaring total income of Rs. 7,57,806. During the course of assessment proceedings, the Assessing Officer observed that the assessee had sold land

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

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

ITA 776/COCH/2023[2021-22]Status: DisposedITAT Cochin31 Jul 2025AY 2021-22

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

For Appellant: Shri Vardhaman Jain, CAFor Respondent: Smt. Veni Raj, CIT-DR
Section 143(3)Section 147Section 2(14)(iii)Section 50CSection 53C

147 r.w.s. 144C was passed on 26.12.2022 at a total income of Rs. 4,88,76,382/-. While doing so, the AO made addition under the head “long term capital gains”. 3. The factual background leading to the above addition is that during the previous year relevant to the assessment year under consideration the appellant sold property situated in Kolechafesar

ASSISTANT COMMISSIONER OF INCOME TAX, KOTTAYAM vs. THOMAS CHANDY, KANJIRAPALLY

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

ITA 243/COCH/2024[2012-13]Status: DisposedITAT Cochin31 Jul 2025AY 2012-13

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm Assessment Year: 2012-13 Asst. Commissioner Of Income Tax .......... Appellant Public Library Buiulding, Shastri Road Kottayam 686001 [Pan: Adzpc3009P] Vs. Thomas Chandy .......... Respondent Karimpanal Post, Post Box No. Vizhikithode, Kanjirpally 686507 Appellant By: Smt. Veni Raj, Cit-Dr Respondent By: Shri R. Krishnan, Ca Date Of Hearing: 12.06.2025 Date Of Pronouncement: 31.07.2025

For Appellant: Smt. Veni Raj, CIT-DRFor Respondent: Shri R. Krishnan, CA
Section 148Section 2(47)

147 of the Act at a total income of Rs.11,71,48,420/-. While doing so, the AO brought to tax the long term capital gains of Rs. 11,71,08,481/- on transfer of land. 3. The factual background leading to the addition is that the appellant is owner of land admeasuring 150 cents in Kakkanad, Ernakulam. The appellant

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

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

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

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

LAKSHMI S ALIAS LAKSHMI HARIGOVIND,THIRUVANANTHAPURAM vs. ACIT, CIRCLE-1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the assessee’s appeal is dismissed

ITA 611/COCH/2022[2012-2013]Status: DisposedITAT Cochin03 Feb 2023AY 2012-2013

Bench: S/Shri Sanjay Arora & Sandeepgosain

For Appellant: Shri Anil D. Nair, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 143(3)Section 147Section 263Section 263(1)

147 read with section 143(3) of the Act dated 28.12.2019 for assessment year (AY) 2012-13. 2. The background facts of the case are that the assessee, along with 13 others, entered into a joint venture (JV) agreement with a Builder, M/s. Nikunjam Construction Pvt. Ltd., on 28.3.2007, for construction of a commercial building on 84 cents of land

PULIKKAPARAMBIL GEORGE JACOB,KOZHIKODE vs. ITO WARD 1(1), KOZHIKODE, KOZHIKODE

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

ITA 558/COCH/2022[2011-2012]Status: DisposedITAT Cochin02 Mar 2023AY 2011-2012

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

For Appellant: Shri V.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 147Section 2Section 2(47)Section 2(47)(v)Section 2(47)(vi)Section 53A

section 147 of the Income Tax Act, 1961 (‘the Act’ hereinafter) dated 27/12/2016 for the Assessment Year (AY) 2011-12. 2. The appeal raises a single issue, i.e., the assessment of capital gain

THOMAS VARGHESE,TRIVANDRUM vs. DEPUTY COMMISSIONER OF INCOME TAX, TRIVANDRUM

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

ITA 773/COCH/2024[2010-2011]Status: DisposedITAT Cochin04 Feb 2025AY 2010-2011

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm Assessment Year: 2010-11 Thomas Varghese .......... Appellant Manthottathu Bunglow, Hose No. 38 Lane 1, Peroorada, Trivandrum 695005 [Pan: Altpv0273E] Vs. Dy. Commissioner Of Income Tax .......... Respondent International Taxation Thiruvananthapuram Appellant By: ------- None ------- Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 21.01.2025 Date Of Pronouncement: 04.02.2025

For Appellant: ------- None -------For Respondent: Smt. Leena Lal, Sr. D.R
Section 139(1)Section 144rSection 148

capital gain. Therefore, notices under sections 143(2) and 142(1) were issued to the assessee, which were not complied with. Under the circumstance the AO completed the assessment vide order dated 22.12.2017 passed u/s. 144r.w.s. 147

SONIYA DAVID LATHIKA,THIRUVANANTHAPURAM vs. ITO WARD 2(3), TRIVANDRUM, THIRUVANANTHAPURAM

In the result, the appeal filed by the assessee is allowed for statistical purpose

ITA 667/COCH/2022[2012-2013]Status: DisposedITAT Cochin07 Jun 2024AY 2012-2013

Bench: Shri Sanjay Arora, Am & Ms. Kavitha Rajagopal, Jm Soniya David Lathika The Ito, Ward-2(3) S. S. Nivas, Vizhinjam, Aayakar Bhavan, Kowdiar, Vs. Mukkola, Venganoor, Trivandrum-4 Thiruvananthapuram, Kerala Pan/Gir No. Ajqpl 8228 A (Assessee) : (Respondent)

For Appellant: Shri Adarsh BFor Respondent: 13.03.2024
Section 10(37)Section 250

147 of the Act determining total income at Rs.1,02,80,872/- after making an addition on long term capital gain (LTCG for short) of Rs.99,39,969/- after deducting the index cost at Rs.50,896/- and making an addition on income from other sources amounting to Rs.3,40,903/- being the interest income received from the bank under

SREEVALSAM HOTELS AND RESORTS PRIVATE LTD,RAJAVALSAM vs. ACIT, CENTRAL CIRCLE, KOLLAM

In the result, assessee’s appeal in ITA No

ITA 115/COCH/2024[2017-2018]Status: DisposedITAT Cochin09 Jun 2025AY 2017-2018

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 143(3)Section 148

Capital Fund which has been claimed as exempt in the hands of the Petitioner should be assessed as income in the hands of the AOP of the contributors of the Petitioner "on a protective basis". Again it has been stated that the issue of taxing the AOP of the contributors of the Petitioner "has arisen from the submission

GIJU PURAPADATHIL MATHAI,ERNAKULAM vs. ASSISTANT COMMISSIONER OF INCOME TAX CORP WARD 2(1), KOCHI

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

ITA 214/COCH/2025[2016-17]Status: DisposedITAT Cochin05 Aug 2025AY 2016-17

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm Assessment Year: 2016-17 Giju Purapadathil Mathai .......... Appellant 5-B Parambil Thara Corss Road, Ivory Heights Panampilly Nagar, Ernakulam 682036 [Pan: Ahopm6606R] Vs. Acit, Corporate Ward- 2(1), Kochi .......... Respondent Assessee By: Smt. Parvathy Ammal, Ca Revenue By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 09.06.2025 Date Of Pronouncement: 05.08.2025

For Appellant: Smt. Parvathy Ammal, CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 139(1)Section 142(1)Section 147Section 148

section 139(1) of the Income Tax Act, 1961 (the Act) for AY 2016-17. However, based on the information available with the department that the appellant sold immovable property for a consideration of Rs. 2 Giju Purapadathil Mathai 86,20,665/-, the National Assessment Unit (hereinafter called "the AO")formed an opinion that income escaped assessment to tax. Accordingly

JOJO,THRISSUR vs. ITO WARD-1(1), THRISSUR, THRISSUR

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

ITA 769/COCH/2025[2020-21]Status: DisposedITAT Cochin21 Nov 2025AY 2020-21

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2020-21 Jojo .......... Appellant Kattalapeedika House, Mattathur, Thrissur [Pan: Bycpj5296A] Vs. The Income Tax Officer, Ward-1(1), Thrissur .......... Respondent Assessee By: Shri Vibin K.K., Ca Revenue By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 26.11.2025 Date Of Pronouncement: 21.11.2025 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 29.08.2025 For Assessment Year (Ay) 2020-21. 2. Brief Facts Of The Case Are That Appellant Is An Individual. No Regular Return Of Income Under The Provisions Of Section 139(1) Of The Income Tax Act, 1961 (The Act) For Ay 2020-21 Was Filed By The Appellant. Based On The Information That The Appellant Had Sold Immovable Property For A Consideration Of Rs. 20,00,000/- The Assessment Unit Of Income Tax Department (Hereinafter Called "The Ao") Formed An Opinion That Income Escaped Assessment To Tax. Accordingly, A Notice U/S. 148 Of The Act Was Issued On 28.03.2024

For Appellant: Shri Vibin K.K., CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 139(1)Section 147Section 148Section 148ASection 54

section 139(1) of the Income Tax Act, 1961 (the Act) for AY 2020-21 was filed by the appellant. Based on the information that the appellant had sold immovable property for a consideration of Rs. 20,00,000/- the Assessment Unit of Income Tax Department (hereinafter called "the AO") formed an opinion that income escaped assessment to tax. Accordingly

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. ARUN RAJ PILLAI, PATHANAMTHITTA

In the result, the cross objection filed by the assessee company stands allowed

ITA 314/COCH/2024[2018-19]Status: DisposedITAT Cochin09 Jun 2025AY 2018-19

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 143(3)

Capital Fund which has been claimed as exempt in the hands of the Petitioner should be assessed as income in the hands of the AOP of the contributors of the Petitioner "on a protective basis". Again it has been stated that the issue of taxing the AOP of the contributors of the Petitioner "has arisen from the submission

CLINT MARTEL WILFRED,ERNAKULAM vs. COMMISSIONER OF INCOME TAX APPEAL CIT (A) BENGALURU - 12, BENGALURU

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

ITA 59/COCH/2024[2011-2012]Status: DisposedITAT Cochin03 Oct 2024AY 2011-2012

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Clint Martel Wilfred Dcit (Interational Taxation) Clint Dale, Moolankuzhy Kochi Vs. Nazreth, Ernakulam 682002 [Pan: Abnpw6970H] (Appellant) (Respondent)

For Appellant: Shri Sudhakar, AdvocateFor Respondent: Smt. Girly Albert, Sr. D.R
Section 139Section 147Section 148

147) of the income of the deceased and for the purpose of levying any sum in the hands of the legal representative in accordance with the provisions of sub-section(1),- (a) any proceeding taken against the deceased before his death shall be deemed to have been taken against the legal representative and may be continued against the legal representative

VRINDAVAN BUILDERS PVT LTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

ITA 697/COCH/2024[2014-15]Status: DisposedITAT Cochin09 Jun 2025AY 2014-15

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 143(3)Section 148

Capital Fund which has been claimed as exempt in the hands of the Petitioner should be assessed as income in the hands of the AOP of the contributors of the Petitioner "on a protective 14 ITA 695 to 700 & 732 to 736/Coch/2024 Vrindavan Builders Pvt. Ltd. basis". Again it has been stated that the issue of taxing

VRINDAVAN BUILDERS PVT LTD,NAGALAND vs. ACIT, CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

ITA 695/COCH/2024[2012-13]Status: DisposedITAT Cochin09 Jun 2025AY 2012-13

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 143(3)Section 148

Capital Fund which has been claimed as exempt in the hands of the Petitioner should be assessed as income in the hands of the AOP of the contributors of the Petitioner "on a protective 14 ITA 695 to 700 & 732 to 736/Coch/2024 Vrindavan Builders Pvt. Ltd. basis". Again it has been stated that the issue of taxing

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KERALA vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

ITA 733/COCH/2024[2014-15]Status: DisposedITAT Cochin09 Jun 2025AY 2014-15

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri Suresh Sivanandan, CIT-DR
Section 132Section 143(3)Section 148

Capital Fund which has been claimed as exempt in the hands of the Petitioner should be assessed as income in the hands of the AOP of the contributors of the Petitioner "on a protective 14 ITA 695 to 700 & 732 to 736/Coch/2024 Vrindavan Builders Pvt. Ltd. basis". Again it has been stated that the issue of taxing