REJI KRISHNAN,TRIVANDRUM vs. ITO, WARD-1(1), TRIVANDRUM

In the result, the appeal filed by the assessee is partly allowed and the stay application is dismissed as infructuous

Bench: Shri Chandra Poojari & Shri Soundararajan K

1) [Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original asset), and the assessee has, within a period

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

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)

section 133A of the Act at the business premises of one, Shri Ittoop Konuparamban, Chalakkudy, Thrissur, also the place of the assessee’s residence, on 13.03.2015, on the basis of the material impounded there-from and the subsequent statement of Shri Ittoop and, indeed, the assessee himself. The assessee, who had not filed any return of income for the year

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

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)

section 133A of the Act at the business premises of one, Shri Ittoop Konuparamban, Chalakkudy, Thrissur, also the place of the assessee’s residence, on 13.03.2015, on the basis of the material impounded there-from and the subsequent statement of Shri Ittoop and, indeed, the assessee himself. The assessee, who had not filed any return of income for the year

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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 were used to make investments that yielded tax free income. The Tribunal by a common order dated

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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 were used to make investments that yielded tax free income. The Tribunal by a common order dated

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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 were used to make investments that yielded tax free income. The Tribunal by a common order dated

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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 were used to make investments that yielded tax free income. The Tribunal by a common order dated

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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 were used to make investments that yielded tax free income. The Tribunal by a common order dated

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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 were used to make investments that yielded tax free income. The Tribunal by a common order dated

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

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

Bench: Shri Sanjay Arora, Am &Shriabyt.Varkey, Jm

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

AJIT ASSOCIATES PRIVATE LIMITED,ERNAKULAM vs. JCIT, CORPORATE RANGE - 1, KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

Bench: Shri Sanjay Arora, Am &Shriabyt.Varkey, Jm

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

DCIT, COCHIN vs. SHRI M GEORGE ( MUKKADAYIL JOSEPH GEORGE), COCHIN

In the result, the Revenue’s appeal is allowed

Bench: Shri Sanjay Arora & Shri Manomohan Dasdy. Cit, Circle 2(1), Range – 2 M.J. George C.R. Building, I.S. Press Road, Mukkadayil House Kochi 682018 Vs. Krishnaswamy Cross Road Ernakulam, Kochi - 682035 [Pan: Adgpg6991D] (Appellant) (Respondent) Revenue By: Sri Sajit Kumar Das, Cit-Dr Assessee By: Sri R. Lokanathan, Ca Date Of Hearing: 17.08.2023 Date Of Pronouncement: 31.10.2023 Order Per Sanjay Arora, Am This Is An Appeal By The Revenue Agitating The Allowance Of The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (The Act) Dated 31.12.2008 For Assessment Year (Ay) 2006-07, By The Commissioner Of Income Tax (Appeals)-2, Kochi [Cit(A)] Vide His Order Dated 31.03.2011. 2. The Facts Of The Case In Brief Are That The Assessee, An Individual, Who Had Returned His Income For The Year At Rs.63,420/- (From Business & Other Sources), Was Found To Have A Credit Of Rs.899.10 Lakhs In His Bank Account On 14.02.2006. The Same Was Explained In The Assessment Proceedings As Sale Proceeds Of 5.21 Acres Of Land At Kakkanad Village, Falling Under Thrikkakara Panchayat, Sold For Rs.977.10 Lakhs Vide Registered Sale Deed Dated 13.02.2006. The Sale Was In Pursuance Of An Agreement To Sell Dated 09.01.2006, Receiving Rs.78 Lakhs As Advance. The Said Land

section 2(14)(iii) of the Act, which reads as under, no income by way of capital gain arose on it’s transfer, and which explained in the non-returning thereof: “2. In this Act, unless the context otherwise requires,— (1) to (13)....... (14) "capital asset" means— (a) property of any kind held by an assessee, whether or not connected

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

43 Abdul Gafoor -do- 2020-21 518/COCH/2024 44 Muhammed Jabir -do- 2017-18 519/COCH/2024 45 Muhammed Jabir -do- 2018-19 520/COCH/2024 46 Muhammed Jabir -do- 2019-20 521/COCH/2024 47 Muhammed Jabir -do- 2020-21 522/COCH/2024 48 Muhammed Madani -do- 2013-14 523/COCH/2024 49 Muhammed Madani ACIT, Central 2017-18 Circle, Calicut 524/COCH/2024 50 Muhammed Madani -do- 2018-19 528/COCH/2024

BATHX BATHWARE INDIA PRIVATE LIMITED,KOCHIN vs. ACIT, CENTRAL IRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

43 Abdul Gafoor -do- 2020-21 518/COCH/2024 44 Muhammed Jabir -do- 2017-18 519/COCH/2024 45 Muhammed Jabir -do- 2018-19 520/COCH/2024 46 Muhammed Jabir -do- 2019-20 521/COCH/2024 47 Muhammed Jabir -do- 2020-21 522/COCH/2024 48 Muhammed Madani -do- 2013-14 523/COCH/2024 49 Muhammed Madani ACIT, Central 2017-18 Circle, Calicut 524/COCH/2024 50 Muhammed Madani -do- 2018-19 528/COCH/2024

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

43 Abdul Gafoor -do- 2020-21 518/COCH/2024 44 Muhammed Jabir -do- 2017-18 519/COCH/2024 45 Muhammed Jabir -do- 2018-19 520/COCH/2024 46 Muhammed Jabir -do- 2019-20 521/COCH/2024 47 Muhammed Jabir -do- 2020-21 522/COCH/2024 48 Muhammed Madani -do- 2013-14 523/COCH/2024 49 Muhammed Madani ACIT, Central 2017-18 Circle, Calicut 524/COCH/2024 50 Muhammed Madani -do- 2018-19 528/COCH/2024

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

43 Abdul Gafoor -do- 2020-21 518/COCH/2024 44 Muhammed Jabir -do- 2017-18 519/COCH/2024 45 Muhammed Jabir -do- 2018-19 520/COCH/2024 46 Muhammed Jabir -do- 2019-20 521/COCH/2024 47 Muhammed Jabir -do- 2020-21 522/COCH/2024 48 Muhammed Madani -do- 2013-14 523/COCH/2024 49 Muhammed Madani ACIT, Central 2017-18 Circle, Calicut 524/COCH/2024 50 Muhammed Madani -do- 2018-19 528/COCH/2024

BATHX BATHWARE INDIA PRIVATE LIMITED,COCHIN vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

43 Abdul Gafoor -do- 2020-21 518/COCH/2024 44 Muhammed Jabir -do- 2017-18 519/COCH/2024 45 Muhammed Jabir -do- 2018-19 520/COCH/2024 46 Muhammed Jabir -do- 2019-20 521/COCH/2024 47 Muhammed Jabir -do- 2020-21 522/COCH/2024 48 Muhammed Madani -do- 2013-14 523/COCH/2024 49 Muhammed Madani ACIT, Central 2017-18 Circle, Calicut 524/COCH/2024 50 Muhammed Madani -do- 2018-19 528/COCH/2024

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

43 Abdul Gafoor -do- 2020-21 518/COCH/2024 44 Muhammed Jabir -do- 2017-18 519/COCH/2024 45 Muhammed Jabir -do- 2018-19 520/COCH/2024 46 Muhammed Jabir -do- 2019-20 521/COCH/2024 47 Muhammed Jabir -do- 2020-21 522/COCH/2024 48 Muhammed Madani -do- 2013-14 523/COCH/2024 49 Muhammed Madani ACIT, Central 2017-18 Circle, Calicut 524/COCH/2024 50 Muhammed Madani -do- 2018-19 528/COCH/2024