THE ITO,, ALAPPUZHA vs. M/S.EXTRAWEAVE P. LTD, ALAPPUZHA

In the result, the appeal filed by the Revenue is partly allowed

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Extraweave Pvt. Ltd. Arattukulangara Complex 264B/Cmc 1 Vs. A.N. Puram, Alapuzha 688011 Sakteeswara Junction Cherthala 688524 Pan – Aabce5438L Appellant Respondent

loss of Rs. 3,36,17,037/- carried forward from previous years. 6. The Hon'ble jurisdictional High Court in the case of M/s. 3 M/s. Extraweave Pvt. Ltd. Patspin India Limited (245 CTR 97 (Ker.) has held that the business profit is to be computed necessarily after setting off unabsorbed depreciation carried forward from previous years. For these

SHASTHA ENTERPRISES,KOLLAM vs. ITO, WARD 3, KOLLAM

The appeal is dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

condone the delay in filing the appeals and proceed to dispose of the matters on merits. 5. The assessee filed its return of income for A.Y. 2019–20. The intimation under Section 143(1) of the Act was issued by the CPC, Bengaluru on 22.02.2020, wherein the employees’ contribution to PF and ESI amounting to Rs.19,02,852 was disallowed

JAGS IMPEX,VENNALA vs. ITO, WARD-2(1), RANGE-2, KOCHI

In the result, appeal filed by the assessee is dismissed

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2012-13 Jags Impex, Cc/1806 B, .......... Appellant Arakkakadav Road, Thaikkavu Junction, Vennala P.O. – 682 028 [Pan: Aaefj 8325 K] Vs. Ito, Ward-2(1), .......... Respondent Range-2, Kochi

delay in filing this appeal is hereby condoned. However, I do not find any merit in the grounds of appeal raised by the assessee as there is no order determining the loss for the A.Y. 2008-09. Accordingly, the AO had rightly denied the set off of carry-forward

P. SURENDRAN,TRIVANDRUM vs. ACIT CIRCLE 1(2), TRIVANDRUM

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

Bench: Shri Sanjay Arora, Am & Ms. Kavitha Rajagopal, Jm P. Surendran Sukanya Bhavan Asst. Cit-1(2) Vadayakkadu, Kunnukuzhy, P.O., Thiruvananthapuram Vs. Thiruvananthapuram-695 035

Delay condoned. 4. The brief facts are that the assessee is an individual and had filed his return of income on 30.11.2014, declaring total income at Rs.1,75,34,220/-. The assessee’s case was selected for scrutiny and notice u/s. 143(2) and 142(1) of the Act were duly issued and served upon by the assessee

M/S MALLELIL INDUSTRIES PVT LTD,PATHANAMTHITTA vs. THE ITO , THIRUVALLA

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

delay in filing the appeal by the assessee was attributable to the change of auditor and therefore we are of the view that there was sufficient cause which prevented the assessee in filing the appeal within the specified time. Accordingly, we condone the same and proceed to adjudicate the issue raised by the assessee on merit. 3. The only issue

EEPEES DEVELOPERS PRIVATE LIMITED,KOZHIKODE vs. ASSISTANT COMMISSIONER OF INCOME TAX, KOZHIKODE

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

Bench: Shri Inturi Rama Rao & Shri Soundararajan K.Assessment Year : 2013-14

forward the losses of the earlier years and the unabsorbed depreciation and set off the same with the current year’s income. The AO treated the said license fee under the head income from house property and denied the other deductions except the 30% towards repair and maintenance as per the provisions of the Act. The assessee challenged the said

MARINE BUSINESS ASSOCIATES,KANNUR vs. ITO, KANNUR

In the result, the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

delay is condoned and the appeal is admitted for adjudication. 4. Brief facts of the case are that the assessee filed return of income declaring total income of Rs.37,690 and thereafter the case was selected for scrutiny and the AO determined the income at Rs.6,06,500 by making addition under the head underreporting of closing stock

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

condone the delay,and admit the appeal. Ajit Associates (P.) Ltd. (AAPL) 3. The assessee-company, in the business of real estate development, purchased lands in an Island along with two group companies, i.e., Beaver Estate Private Limited (BEPL) and Good Homes Private Limited (GHPL), with a view to develop the Island as per the master plan, and sell

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

condone the delay,and admit the appeal. Ajit Associates (P.) Ltd. (AAPL) 3. The assessee-company, in the business of real estate development, purchased lands in an Island along with two group companies, i.e., Beaver Estate Private Limited (BEPL) and Good Homes Private Limited (GHPL), with a view to develop the Island as per the master plan, and sell

V GUARD INDUSTRIES LIMITED,VENNALA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOCHI

In the result, the assessee’s appeal is partly allowed

Bench: Shri Sanjay Arora & Shri Sandeep Gosainv-Guard Industries Ltd. Principal Cit-1, 42/962, Vennala High School C R Building, I S Press Road, Vs. Road, Vennala, Kochi 682018 Ernakulam 682028 [Pan: Aaacv5492Q] (Appellant) (Respondent) Appellant By: Shri Anil D. Nair, Advocate Respondent By: Shri Prashant V.K., Cit-Dr Date Of Hearing: 01.02.2023 Date Of Pronouncement: 20.03.2023 O R D E R Per: Bench This Is An Appeal By The Assessee Challenging The Revision Of It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) Dated 28/12/2018 For Assessment Year (Ay) 2016-17 By The Principal Commissioner Of Income Tax-1, Kochi (‘Pr. Cit’ For Short) Vide Order U/S. 263 Dated 22/03/2021. 2. The Appeal, Filed On 08/03/2022, Though Delayed By 256 Days, Was Admitted In View Of The Blanket Condonation By The Apex Court In Suo Motu Wp(C) No.3/2020, Dated 10/01/2022, Excluding The Period From 15/3/2020 To 28/02/2022 In Reckoning The Delay In Computing Limitation Under Law & The Hearing Accordingly Proceeded With. The Assessee Is A Company Manufacturing Electrical Cables, Pumps, Solar Water Heaters, Etc. & Trading In Electrical & Electronic Goods. Revision Of It’S Impugned Assessment Is On Several Issues On Which The Revisionary Authority Found An Absence Or Lack Of Enquiry By The Assessing Officer

condonation by the Apex Court in Suo Motu WP(C) No.3/2020, dated 10/01/2022, excluding the period from 15/3/2020 to 28/02/2022 in reckoning the delay in computing limitation under law, and the hearing accordingly proceeded with. The assessee is a company manufacturing electrical cables, pumps, solar water heaters, etc., and trading in electrical and electronic goods. Revision of it’s impugned