APTIV CONNECTION SYSTEMS INDIA PRIVATE LIMITED,KOCHI, KERALA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE 1(1), ERNAKULAM, KERALA

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation of Rs.17,73,077/- has been claimed on assets put to use during the period relevant to A.Υ. 2008-09. 4. The assessee has not disallowed any expenses against the dividend income received of Rs.17,33,532/-. Aptiv Connection Systems India P. Ltd. 5. "Lease principal repayment" of Rs.22,95,833/- has been claimed as deduction

M/S ASPINWALL & CO.,LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income shall be the amount of income-tax at the rate of eighteen one-half per cent. (2) Every assessee – Explanation (1) –For the purpose of this section, “”book profit” means the net profit

ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income shall be the amount of income-tax at the rate of eighteen one-half per cent. (2) Every assessee – Explanation (1) –For the purpose of this section, “”book profit” means the net profit

THE DCIT, COCHIN vs. M/S.ASPINWALL & CO. LTD, COCHIN

In the result,the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income shall be the amount of income-tax at the rate of eighteen one-half per cent. (2) Every assessee – Explanation (1) –For the purpose of this section, “”book profit” means the net profit

ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income shall be the amount of income-tax at the rate of eighteen one-half per cent. (2) Every assessee – Explanation (1) –For the purpose of this section, “”book profit” means the net profit

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. JCIT, CIRCLE-1(1), THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividend income received on such shares and bonds was tax free, the shares and bonds in question were held by the appellant as trading assets. The trading and current assets were valued at cost or market price, whichever was lower at the end of the financial year, and consequent depreciation in the value of the same was taken into account

THE SOUTH INDIAN BANK LIMITED ,THRISSUR vs. ACIT, CIRCLE 1(1), THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividend income received on such shares and bonds was tax free, the shares and bonds in question were held by the appellant as trading assets. The trading and current assets were valued at cost or market price, whichever was lower at the end of the financial year, and consequent depreciation in the value of the same was taken into account

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. ACIT, CIRCLE 1(1)& TPS, THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividend income received on such shares and bonds was tax free, the shares and bonds in question were held by the appellant as trading assets. The trading and current assets were valued at cost or market price, whichever was lower at the end of the financial year, and consequent depreciation in the value of the same was taken into account

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. DCIT, THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividend income received on such shares and bonds was tax free, the shares and bonds in question were held by the appellant as trading assets. The trading and current assets were valued at cost or market price, whichever was lower at the end of the financial year, and consequent depreciation in the value of the same was taken into account

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. JCIT, RANGE-1, THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividend income received on such shares and bonds was tax free, the shares and bonds in question were held by the appellant as trading assets. The trading and current assets were valued at cost or market price, whichever was lower at the end of the financial year, and consequent depreciation in the value of the same was taken into account

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. ACIT, CIRCLE-1(1), THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividend income received on such shares and bonds was tax free, the shares and bonds in question were held by the appellant as trading assets. The trading and current assets were valued at cost or market price, whichever was lower at the end of the financial year, and consequent depreciation in the value of the same was taken into account

THE DCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividends (which do not exist) from investments (that have not been made during the impugned financial year) Cochin International Airport Ltd. and that such imagined expenses have not been attributed and/or disallowed by it. He has not specifically shown with the support of evidences that any such incurrence or consequent non-attribution has taken place. There is hence no cogent

THE DCIT, COCHIN vs. M/S.COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividends (which do not exist) from investments (that have not been made during the impugned financial year) Cochin International Airport Ltd. and that such imagined expenses have not been attributed and/or disallowed by it. He has not specifically shown with the support of evidences that any such incurrence or consequent non-attribution has taken place. There is hence no cogent

THEDCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividends (which do not exist) from investments (that have not been made during the impugned financial year) Cochin International Airport Ltd. and that such imagined expenses have not been attributed and/or disallowed by it. He has not specifically shown with the support of evidences that any such incurrence or consequent non-attribution has taken place. There is hence no cogent

THE DCIT, COCHIN vs. M/S.COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

dividends (which do not exist) from investments (that have not been made during the impugned financial year) Cochin International Airport Ltd. and that such imagined expenses have not been attributed and/or disallowed by it. He has not specifically shown with the support of evidences that any such incurrence or consequent non-attribution has taken place. There is hence no cogent

THE ACIT, KOCHI vs. M/S.COCHIN SHIPYARD LTD, KOCHI

In the result, all the appeals by the revenue are dismissed

Bench: Smt. Beena Pillai & Ms. Padmavathy S.

depreciation in the subsequent year. ITA Nos.655 to 659/Coch/2019 Page 4 of 10 4.2 Learned Senior Counsel appearing for the assessee refers to and relies on the judgments in Commissioner of Income-tax, Madurai v. T P Textiles (P) Ltd. (2017) 79 taxmann.com 411 (Madras) and Commissioner of Income-tax, Bangalore v. Rittal India (P) Ltd. (2016) 66 taxmann.com

THE ACIT, KOCHI vs. M/S.COCHIN SHIPYARD LTD, KOCHI

In the result, all the appeals by the revenue are dismissed

Bench: Smt. Beena Pillai & Ms. Padmavathy S.

depreciation in the subsequent year. ITA Nos.655 to 659/Coch/2019 Page 4 of 10 4.2 Learned Senior Counsel appearing for the assessee refers to and relies on the judgments in Commissioner of Income-tax, Madurai v. T P Textiles (P) Ltd. (2017) 79 taxmann.com 411 (Madras) and Commissioner of Income-tax, Bangalore v. Rittal India (P) Ltd. (2016) 66 taxmann.com

THE ACIT, KOCHI vs. M/S.COCHIN SHIPYARD LTD, KOCHI

In the result, all the appeals by the revenue are dismissed

Bench: Smt. Beena Pillai & Ms. Padmavathy S.

depreciation in the subsequent year. ITA Nos.655 to 659/Coch/2019 Page 4 of 10 4.2 Learned Senior Counsel appearing for the assessee refers to and relies on the judgments in Commissioner of Income-tax, Madurai v. T P Textiles (P) Ltd. (2017) 79 taxmann.com 411 (Madras) and Commissioner of Income-tax, Bangalore v. Rittal India (P) Ltd. (2016) 66 taxmann.com