THE ACIT, CORP CIRCLE-1(2), KOCHI vs. M/S.KNOWELL REALTORS INDIA P. LTD, KOCHI

In the result, the Revenue’s appeals are allowed

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

business income. In fact, it not claiming depreciation on it’s buildings is also consistent with the property yielding revenue

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

depreciation, sustain that existing. Further, we may clarify that this business is not a property held under trust, but one carried on the basis or by virtue of such property, being, for instance, 80 acres of land transferred from KINFRA; the capital infusion by GoI and GoK, etc. The income

INFOPARKS KERALA,COCHIN vs. THE ACIT, COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

depreciation, sustain that existing. Further, we may clarify that this business is not a property held under trust, but one carried on the basis or by virtue of such property, being, for instance, 80 acres of land transferred from KINFRA; the capital infusion by GoI and GoK, etc. The income

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

depreciation, sustain that existing. Further, we may clarify that this business is not a property held under trust, but one carried on the basis or by virtue of such property, being, for instance, 80 acres of land transferred from KINFRA; the capital infusion by GoI and GoK, etc. The income

KERALA TRANSPORT DEVELOPMENT FINANCE CORPORATION LTD,TRIVANDRUM vs. THE PCIT , TRIVANDRUM

In the result, appeal filed by the assessee stands allowed

Bench: Shri Inturi Rama Rao, Am & Sonjoy Sarma, Jm Assessment Year:2018-19 Kerala Transport Development Finance .......... Appellant Corporation Limited, Thiruvananthapuram. Pan: Aabck1318F Vs.

depreciation. With regard to the treating the rental income as business income, it is submitted that the rental income was derived

M/S.HOTEL ABAD,KOCHI vs. THE ACIT, COCHIN

In the result, the appeal of assessee in ITA No

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am M/S.Hotel Abad, The Assistant Commissioner Chullickal, Of Income Tax, V. Kochi-682 005 Circle-1(1), Kerala Cochin, Kerala Pan – Aabfh3482N Appellant Respondent

business losses, as return of income for the impugned assessment year was filed late by the assesse beyond the time prescribed under the provisions of Section 139(1) of the Act and hence the AO allowed set off of earlier years unabsorbed depreciation

PLANT LIPIDS (P) LTD.,KADAYIRUPPU vs. DCIT , CORPORATE CIRCLE-2(1), KOCHI

In the result appeal filed by assessee stands allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubeyassessmentyear:2020-21 Plant Lipids (P) Ltd. Kadayiruppu Po Kolenchery Dcit, Vs. Kerala 682 311 Corporate Circle-2(1) Kochi Pan No : Aabcp6061C Appellant Respondent Appellant By : Shri Thomson Thomas, A.R. Respondent By : Shri Sanjit Kumar Das, D.R. Date Of Hearing : 20.02.2025 Date Of Pronouncement : 19.05.2025 O R D E R Perkeshav Dubey: This Appeal At The Instance Of The Assessee Is Directed Against The Order Of The Ao, Assessment Unit, Income Tax Department Dated 19.6.2024 Vide Din No.Itba/Ast/S/143(3)/2024- 25/1065876641(1) For The Ay 2020-21 Passed U/S 143(3) R.W.S. 144C(13) R.W.S. 144B Of The Income Tax Act, 1961 (In Short “The Act”). 2. The Assessee Has Raised Following Grounds Of Appeal: Plant Lipids (P) Ltd., Kolencherry, Kerala Page 2 Of 8

Income from Business and Profession” to those, who pursue corporate social responsibility projects under following sections. • Section 30 provides deduction on repairs, municipal tax and insurance premiums. • Section 31, provides deduction on repairs and insurance of plant, machinery and furniture • Section 32 provides for depreciation

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

depreciation brought forward to that extent and arrived at NIL income. According to the AO. since income form business is 'NIL', deduction

AROOR CO-OP URBAN SOCIETY LTD,KOZHIKKODE vs. ITO, KOZHIKKODE

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

Bench: Shrigeorge George K.And Shrilaxmi Prasad Sahuaroor Co-Operative Urbn Society Dcit, Central Prossing Centre Aroor P.O., Kakkattil 673507 Bangalore Vs.

business income only and cannot be allowed on Reserve to remove bad and doubtful debts and Reserve for interest arrears. Even otherwise" Section 80AC has been amended from AY. 2018-19 and deduction u/s 80P can be allowed only if the ITR is filed within the due date. g) In view of the above facts, the action

M/S.ROADS AND BRIDGES DEVELOPMENT CORPN OF KERALA LTD,ERNAKULAM vs. THE ACIT, KOCHI

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

Bench: Smt. Beena Pillai & Ms. Padmavathy Sassessment Year : 2016-17

business loss u/s 72(1) is ineligible to be carried forward u/s 139(3). The said section is not applicable in case of unabsorbed depreciation carried forward u/s 32(2) and hence the loss of Rs. 1,71,93,697/- is eligible to be carried forward and set off in the ensuing years as per the Income

MALABAR CEMENTS LIMITED,PALAKKAD vs. ACIT, PALAKKAD

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation actually taken into account or granted and given effect to, i.e., debited by the Income-tax Officer against the incomings of the business

MALABAR CEMENTS LTD,WALAYAR vs. ACIT, CIRCLE-1, PALAKKAD, PALAKKAD

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation actually taken into account or granted and given effect to, i.e., debited by the Income-tax Officer against the incomings of the business

MALABAR CEMENTS LTD,WALAYAR vs. ACIT, CIRCLE-1, PALAKKAD, PALAKKAD

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation actually taken into account or granted and given effect to, i.e., debited by the Income-tax Officer against the incomings of the business

MALABAR CEMENTS LTD,WALAYAR vs. ACIT, CIRCLE-1, PALAKKAD, PALAKKAD

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation actually taken into account or granted and given effect to, i.e., debited by the Income-tax Officer against the incomings of the business

KINGS INFRA VENTURES LTD,THEVARA vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1 (2), KOCHI, KOCHI

In the result, the appeal by the assessee is dismissed

Bench: Shri Sanjay Arora & Shri Sandeep Gosainkings Infra Ventures Ltd. Asstt. Commissioner Of A-1, 1St Floor, Atria Apartment Income Tax, Opp. Gurudwara Temple Vs. Circle - 1(2) Perumanur Road Kochi Thevara, Kochi [Pan:Aaccv3411D] (Respondent) (Appellant) Appellant By: Shri Joseph Markose, Sr. Advocate Respondent By: Smt. J.M. Jamuna Devi, Sr. D.R.

depreciation (UAD), working to Rs. 1,52,67,459. The Assessing Officer (AO) noting that the assessee’s business is of a Builder, disallowed the said claim, holding that there was no business (of Aqua Farm Culture), income

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

business income and claimed all the expenses and depreciation. The assessee has also brought forward the losses of the earlier

MANJILAS AGRO FOOD PVT.LTD.,THRISSUR vs. THE ITO,WARD-1(2),, THRISSUR

In the result, all the appeals by the assessee are partly allowed

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

income ofRs.32,65,500. Subsequently, a notice u/s. 148 was served on the assessee. The assessee in response to notice submitted to consider the revised return to be the return filed in response to notice u/s. 148. During the year under consideration, the assessee has claimed depreciation at 30% on the temp van used for the purpose of business

THE ACIT, CIRCLE-1(1), THRRISSUR vs. MANJILAS AGRO FOODS PVT. LTD., THRISSUR

In the result, all the appeals by the assessee are partly allowed

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

income ofRs.32,65,500. Subsequently, a notice u/s. 148 was served on the assessee. The assessee in response to notice submitted to consider the revised return to be the return filed in response to notice u/s. 148. During the year under consideration, the assessee has claimed depreciation at 30% on the temp van used for the purpose of business