ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

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

gains arise on sale of rubber trees. According to the Ld. DR with the amendment brought in by IT (Second Amendment) Rules, 2001 the scenario has changed and now by Rule 7a an altogether new method to arrive at the income from value added rubber products, which is assessable under Central Income Tax has been evolved. The Ld. DR submitted

M/S ASPINWALL & CO.,LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

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

gains arise on sale of rubber trees. According to the Ld. DR with the amendment brought in by IT (Second Amendment) Rules, 2001 the scenario has changed and now by Rule 7a an altogether new method to arrive at the income from value added rubber products, which is assessable under Central Income Tax has been evolved. The Ld. DR submitted

ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

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

gains arise on sale of rubber trees. According to the Ld. DR with the amendment brought in by IT (Second Amendment) Rules, 2001 the scenario has changed and now by Rule 7a an altogether new method to arrive at the income from value added rubber products, which is assessable under Central Income Tax has been evolved. The Ld. DR submitted

SMT.JALAJA NAIR,TRIVANDRUM vs. THE ADIT(INV), TRIVANDRUM

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

1. The order of the Commissioner of Income Tax (Appeals)-III, Kochi in ITA No.168ATVM/ClT(A)-W/2010-11 dated 17.12.2018 for the asst. year 2005-06, is opposed to law, facts and circumstances of the case. 2. The CIT (A) further went wrong in failing to adjudicate the issue of short term capital gain amounting to Rs.29,22,500/- which

SMT.JALAJA NAIR,TRIVANDRUM vs. THE ADIT(INV), TRIVANDRUM

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

1. The order of the Commissioner of Income Tax (Appeals)-III, Kochi in ITA No.168ATVM/ClT(A)-W/2010-11 dated 17.12.2018 for the asst. year 2005-06, is opposed to law, facts and circumstances of the case. 2. The CIT (A) further went wrong in failing to adjudicate the issue of short term capital gain amounting to Rs.29,22,500/- which

SMT.JALAJA NAIR,TRIVANDRUM vs. THE ADIT(INV), TRIVANDRUM

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

1. The order of the Commissioner of Income Tax (Appeals)-III, Kochi in ITA No.168ATVM/ClT(A)-W/2010-11 dated 17.12.2018 for the asst. year 2005-06, is opposed to law, facts and circumstances of the case. 2. The CIT (A) further went wrong in failing to adjudicate the issue of short term capital gain amounting to Rs.29,22,500/- which

ABC BUILDWARES(P) LIMITED,KANNUR vs. ACIT, CENTRAL CIRCLE-1`, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

K.ABDUL VAHEED,TALIPARAMBA vs. ACIT(CENTRAL CIRCLE-1), KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

ABC BUILDWARES INDIA(P) LIMITED,KANNUR vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

KAKKOTTAKATH NADUVILAPURAYIL JUNAID,KANNUR vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

KAKKOTTAKATH NADUVILAPURAYIL JUNAID,KANNUR vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

KAKKOTTAKATH NADUVILAPURAYIL JUNAID,KANNUR vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

RUCHIT PARIMAL ASHAR,SANALA ROAD, MORBI vs. ACIT CENTRAL CIRCLE-1, CALICUT

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

KAKKOTTAKATH NADUVILAPURAYIL JUNAID,KANNUR vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

KODIYIL MUHAMMED MADANI PARTNER, ABC SALES CORPORATION,TALIPARAMBA vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

K.ABDUL VAHEED,TALIPARAMBA vs. ACIT CENTRAL CIRCLE-1, , KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

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

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices

KODIYIL MUHAMMED MADANI, PARTNER(ABC SALAES CORPORATION),TALIPARAMBA vs. ACIT , CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

256 ITR 395), held that modifications in business records, if necessary for accurate accounting, do not automatically imply fraudulent intent, especially in cases where damaged stock or returned goods are common. The negligible proportion of modified bills compared to the overall turnover in the assessee’s case supports the argument that these modifications were reasonable and within normal business practices