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

In the result, the appeal by the assessee is dismissed

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.

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 ITO,, TRIVANDRUM vs. SMT.PADMAJA DEVI AMMA, CALICUT

In the result, the appeal filed by the Revenue and the CO filed by the assessee are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

391 ITR 178 (SC)], held that the assessee was entitled to the benefit of section 10(37) of the I.T.Act, and hence, would not be liable for long term capital gains

THE ITO,, TRIVANDRUM vs. SRI.HARIMURALI SREEDHARA PANICKER, TRIVANDRUM

In the result, the appeal filed by the Revenue and the CO filed by the assessee are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

391 ITR 178 (SC)], held that the assessee was entitled to the benefit of section 10(37) of the I.T.Act, and hence, would not be liable for long term capital gains

THE ITO, WD-1(1), TRIVANDRUM vs. SMT.ASHA VIMALA, TRIVANDRUM

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

391 ITR 178 (SC)], held that the assessee was entitled to the benefit of section 10(37) of the I.T.Act, and hence, would not be liable ITA No.568/Coch/2018. 3 Smt.Asha Vimala for long term capital gains

M/S. ACCEL TRANSMATIC LTD,TRIVANDRUM vs. THE ACIT, TRIVANDRUM

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

Bench: S/Shri Abraham P. George, Am & George George K., Jm

391 ITR 274, judgment of the Hon’ble Karnataka High Court in the case of CIT vs. Yokogama India Ltd. (supra) stood affirmed and the judgment of the very same High Court in the case of Himmatsingika Saide Ltd. 286 ITR 255 stood reversed. In so far as brought forward loss was concerned, Ld. AR submitted that even though such

M/S.ACCEL TRANSMATIC LTD,TRIVANDRUM vs. THE ACIT, TRIVANDRUM

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

Bench: S/Shri Abraham P. George, Am & George George K., Jm

391 ITR 274, judgment of the Hon’ble Karnataka High Court in the case of CIT vs. Yokogama India Ltd. (supra) stood affirmed and the judgment of the very same High Court in the case of Himmatsingika Saide Ltd. 286 ITR 255 stood reversed. In so far as brought forward loss was concerned, Ld. AR submitted that even though such

THE ITO, WD-1(3), TRIVANDRUM vs. SRI.VINOD BALAKRISHNAN, TRIVANDRUM

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

391 ITR 178 (SC) and finding that impugned land was agricultural land, ITA No.572/Coch/2018. 3 Sri.Vinod Balakrishnan. where agricultural operations were carried on, concluded that the assessee was entitled to the benefit of section 10(37) of the I.T.Act. Hence, it was held by the CIT(A) that the assessee would not be liable for long term capital gains

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn interest or dividend

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn interest or dividend

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn interest or dividend

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn interest or dividend

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn interest or dividend

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn interest or dividend

ACIT, KOCHI vs. FEDERAL BANK LTD, ALUVA

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn

ACIT, KOCHI vs. FEDERAL BANK LTD, ALUVA

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn

THE FEDERAL BANK LTD,ALUVA vs. THE ACIT, KOCHI

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn

THE FEDERAL BANK LTD,ALUVA vs. THE ACIT, KOCHI

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn

THE ACIT, KOCHI vs. THE FEDERAL BANK LTD, ERNAKULAM

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

391 ITR 218 where exempt income in the form of dividend was earned by the Bank from securities held by it as its stock in trade, held that the assessee was engaged in the purchase and sale of shares/ securities as a trader with the object of earning profit and not with a view to earn