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

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

iv) of sub-section (1) of section 49shall be taken to be nil; (aa) in a case where, by virtue of holding a capital asset, being a share or any other security, within the meaning of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this clause referred to as the financial

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

iv) of sub-section (1) of section 49shall be taken to be nil; (aa) in a case where, by virtue of holding a capital asset, being a share or any other security, within the meaning of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this clause referred to as the financial

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

iv) of sub-section (1) of section 49shall be taken to be nil; (aa) in a case where, by virtue of holding a capital asset, being a share or any other security, within the meaning of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this clause referred to as the financial

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

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

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

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

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

35,062. For AY 2010-11 it stood reduced from RS.4,68,60,335 to Rs. 2,16,43,082/-. 6. The Assessee filed appeal against the orders of the CIT(A) before the Tribunal in ITA No.231 to 283/Coch/2014 contending that proportionate disallowance of interest expenses was not justified because the Assessee had sufficient own interest free funds which

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

35,062. For AY 2010-11 it stood reduced from RS.4,68,60,335 to Rs. 2,16,43,082/-. 6. The Assessee filed appeal against the orders of the CIT(A) before the Tribunal in ITA No.231 to 283/Coch/2014 contending that proportionate disallowance of interest expenses was not justified because the Assessee had sufficient own interest free funds which

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

35,062. For AY 2010-11 it stood reduced from RS.4,68,60,335 to Rs. 2,16,43,082/-. 6. The Assessee filed appeal against the orders of the CIT(A) before the Tribunal in ITA No.231 to 283/Coch/2014 contending that proportionate disallowance of interest expenses was not justified because the Assessee had sufficient own interest free funds which

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

35,062. For AY 2010-11 it stood reduced from RS.4,68,60,335 to Rs. 2,16,43,082/-. 6. The Assessee filed appeal against the orders of the CIT(A) before the Tribunal in ITA No.231 to 283/Coch/2014 contending that proportionate disallowance of interest expenses was not justified because the Assessee had sufficient own interest free funds which

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

35,062. For AY 2010-11 it stood reduced from RS.4,68,60,335 to Rs. 2,16,43,082/-. 6. The Assessee filed appeal against the orders of the CIT(A) before the Tribunal in ITA No.231 to 283/Coch/2014 contending that proportionate disallowance of interest expenses was not justified because the Assessee had sufficient own interest free funds which

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

35,062. For AY 2010-11 it stood reduced from RS.4,68,60,335 to Rs. 2,16,43,082/-. 6. The Assessee filed appeal against the orders of the CIT(A) before the Tribunal in ITA No.231 to 283/Coch/2014 contending that proportionate disallowance of interest expenses was not justified because the Assessee had sufficient own interest free funds which

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

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)

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

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

1,97,74,250 Kakkanad 19,35,80,550 5. The said lands were situated in Thrikkakara Panchayat. The area of Thrikkakara Panchayat was notified area during the period from 1984 to 1994, but denotified in the year 1994. The appellant purchased adjacent pieces of land from 8 different parties during F.Y. 2006-07. These lands were sold to different

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

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

35 Keeran Muhammed Basheer -do- 2019-20 510/COCH/2024 36 Keeran Muhammed Basheer -do- 2020-21 511/COCH/2024 ACIT, Central 37 Abdul Gafoor 2013-14 Circle, 512/COCH/2024 Kozhikode 38 Abdul Gafoor -do- 2015-16 513/COCH/2024 39 Abdul Gafoor -do- 2016-17 514/COCH/2024 40 Abdul Gafoor -do- 2017-18 515/COCH/2024 41 Abdul Gafoor -do- 2018-19 516/COCH/2024 42 Abdul Gafoor

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

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

35 Keeran Muhammed Basheer -do- 2019-20 510/COCH/2024 36 Keeran Muhammed Basheer -do- 2020-21 511/COCH/2024 ACIT, Central 37 Abdul Gafoor 2013-14 Circle, 512/COCH/2024 Kozhikode 38 Abdul Gafoor -do- 2015-16 513/COCH/2024 39 Abdul Gafoor -do- 2016-17 514/COCH/2024 40 Abdul Gafoor -do- 2017-18 515/COCH/2024 41 Abdul Gafoor -do- 2018-19 516/COCH/2024 42 Abdul Gafoor

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

35 Keeran Muhammed Basheer -do- 2019-20 510/COCH/2024 36 Keeran Muhammed Basheer -do- 2020-21 511/COCH/2024 ACIT, Central 37 Abdul Gafoor 2013-14 Circle, 512/COCH/2024 Kozhikode 38 Abdul Gafoor -do- 2015-16 513/COCH/2024 39 Abdul Gafoor -do- 2016-17 514/COCH/2024 40 Abdul Gafoor -do- 2017-18 515/COCH/2024 41 Abdul Gafoor -do- 2018-19 516/COCH/2024 42 Abdul Gafoor

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

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

35 Keeran Muhammed Basheer -do- 2019-20 510/COCH/2024 36 Keeran Muhammed Basheer -do- 2020-21 511/COCH/2024 ACIT, Central 37 Abdul Gafoor 2013-14 Circle, 512/COCH/2024 Kozhikode 38 Abdul Gafoor -do- 2015-16 513/COCH/2024 39 Abdul Gafoor -do- 2016-17 514/COCH/2024 40 Abdul Gafoor -do- 2017-18 515/COCH/2024 41 Abdul Gafoor -do- 2018-19 516/COCH/2024 42 Abdul Gafoor

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

35 Keeran Muhammed Basheer -do- 2019-20 510/COCH/2024 36 Keeran Muhammed Basheer -do- 2020-21 511/COCH/2024 ACIT, Central 37 Abdul Gafoor 2013-14 Circle, 512/COCH/2024 Kozhikode 38 Abdul Gafoor -do- 2015-16 513/COCH/2024 39 Abdul Gafoor -do- 2016-17 514/COCH/2024 40 Abdul Gafoor -do- 2017-18 515/COCH/2024 41 Abdul Gafoor -do- 2018-19 516/COCH/2024 42 Abdul Gafoor