JUBILEE MISSION HOSPITAL ,KAKKANAD vs. THE DCIT, KOCHI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned ITA Nos.88 TO 91/Coch/2022 Jubilee Mission Hospital, Thrissur Page 11 of 19 (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year).” 11.1 In our opinion, since there was no material brought on record by to come

JUBILEE MISSION HOSPITAL,THRISSUR vs. THE DCIT, THRISSUR

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned ITA Nos.88 TO 91/Coch/2022 Jubilee Mission Hospital, Thrissur Page 11 of 19 (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year).” 11.1 In our opinion, since there was no material brought on record by to come

M/S.MARYMATHA SCHOOL TRUST,COCHIN vs. THE ITO(EXEMPTION), COCHIN

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

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.285/Coch/2017 Assessment Year : 2012-13 M/S. Mary Matha School Trust, Vs. The Income Tax Officer Thrikkakara P.O. (Exemption), Kochi. Kochi-682 021. [Pan:Aabtm 0241L]

5. Now the contention of the Ld. AR before us is that depreciation claimed on the fixed asset could not be denied on the reason that expenditure on acquisition of assets has been treated as application of income in the year of acquisition of asset. Further, it was submitted that there was amendment of section 11

M/S.KADUNA HOSPITALITY P. LTD,COCHIN vs. THE ITO, COCHIN

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

Bench: Shri P. K. Bansal & Shri George George K.Assessment Year: 2013-14

depreciation of earlier years under section 32(2), amounting to Rs.5,67,2047-, against the short term capital gain for AY 2013-14;. The appellant craves, to consider each of the above grounds of appeal without prejudice to each other and craves to leave or add, alter, delete or modify all or any of the above grounds of appeal

DCIT, ALAPPUZHA vs. M/S ACEELERATED FREEZE DRYING CO, LTD, ALAPPUZHA

In the result, the appeal of the Revenue is allowed and the appeal of the

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

5) The Officers below were not justified in disallowing the loss which has occurred on the re-instatement of foreign exchange loans procured for working capital requirements more so when the appellant has been consistently following the system of accounting year after year and booking into account the loss or gain arising on re-instatement of foreign exchange loans

ACEELERATED FREEZE DRYING CO.LTD,ALAPPUZHA vs. DCIT, ALAPPUZHA

In the result, the appeal of the Revenue is allowed and the appeal of the

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

5) The Officers below were not justified in disallowing the loss which has occurred on the re-instatement of foreign exchange loans procured for working capital requirements more so when the appellant has been consistently following the system of accounting year after year and booking into account the loss or gain arising on re-instatement of foreign exchange loans

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.

5 Reserve for previous 1040476 years’ interest years’ interest arrears arrears 6 Reserve for bad and 162673 6 Reserve for bad and 95588 doubtful debts doubtful assets 7 Depreciation 235285 8 Reserve for deposit 200 list difference 9 Provision for leave 44108 salary 10 Reserve for 574 furniture list difference 11 Provision for 213545 gratuity Total 11243799 Total 11356603 Profit

THE ACIT,CIR-1(1),, TRIVANDRUM vs. M/S.US TECHNOLOGY INTERNATIONAL P. LTD, TRIVANDRUM

In the result, both appeal of the Revenue and the Cross Objection of the

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

5 For availing benefit under section 10A of the Yes Act, Form 56F should be furnished Sub-section 6(i) (Applicable only till A.Y. 2000-01 Not applicable Sub-section 6(ii) (Applicable only till AY 2000-01) Not applicable. Sub-section No deduction under section 80HH or 80HHA or Yes 6(iii) section 80-I or setion

THE ACIT, COCHIN vs. M/S.SUD CHEMIE INDIA P. LTD, COCHIN

In the result, the appeals of the Revenue are partly allowed for statistical

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

section 43(5). With regard to speculative I hedging transactions we had benefit of perusing the judgments I.T.A. Nos./ 3, 17 & 41/C/2017 of M.G. Bros. V CIT (1985) 1564 ITR 695/20 Taxman 90 (AP), Nuddea Mills Co. Ltd. V. CIT (1988) 171 ITR 169 (1987) 35 Taxman 3 (Cal), Delhi Flour Mills

THE ACIT, COCHIN vs. M/S.SUD CHEMIE INDIA P. LTD, ALUVA

In the result, the appeals of the Revenue are partly allowed for statistical

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

section 43(5). With regard to speculative I hedging transactions we had benefit of perusing the judgments I.T.A. Nos./ 3, 17 & 41/C/2017 of M.G. Bros. V CIT (1985) 1564 ITR 695/20 Taxman 90 (AP), Nuddea Mills Co. Ltd. V. CIT (1988) 171 ITR 169 (1987) 35 Taxman 3 (Cal), Delhi Flour Mills

THE ACIT, KOCHI vs. M/S.KUNNEL ENGINEERS & CONTRACTORS P. LTD, KOCHI

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

depreciation under section 32 of the Income-tax Act, 1961( 43 of 1961). (5) (a) The CENVAT credit shall be allowed even if any inputs or capital goods as such or after being partially processed are sent to a job worker for further processing, testing, repair, re-conditioning, or for the manufacture of intermediate goods necessary for the manufacture

THE ACIT, ERNAKULAM vs. M/S.NITTA GELATINE INDIA LTD, COCHIN

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

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

section 32(1)(iia) of the Income Tax Act, 1961 is a one-time benefit to encourage industrialization and the relevant provisions have to be construed reasonably and purposively. The additional depreciation is allowed in the year of purchase and if in the year of purchase, the assessee is eligible only for 50 per cent, depreciation, the balance

THE ACIT, COCHIN vs. M/S.NITTA GELATINE INDIA LTD, COCHIN

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

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

section 32(1)(iia) of the Income Tax Act, 1961 is a one-time benefit to encourage industrialization and the relevant provisions have to be construed reasonably and purposively. The additional depreciation is allowed in the year of purchase and if in the year of purchase, the assessee is eligible only for 50 per cent, depreciation, the balance

M/S OIL PALM INDIA LTD,KOTTAYAM vs. DCIT, KOTTAYAM

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

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sassessment Year : 2009-10 M/S. Oil Palm India Ltd., Vs. Dcit, Xiv/130, Kottayam South P.O., Circle – 1, Kodimatha, Kottayam. Kottayam. Pan : Aaaci 3695 G Appellant Respondent

section 154 of the Act. Aggrieved, the assessee is in appeal before the Tribunal. The learned AR filed a detailed submission with regard to the rectification order passed by the AO which is extracted as below: In fact, the issue of taxability of income from the manufacture and sale of palm oil has been a consistent issue in the assessment

THE ADIT ( EXEMPTION), KOCHI vs. M/S.INDIAN MEDICAL ASSOCIATION COCHIN BRANCH, COCHIN

In the result, both the appeals of the Revenue are dismissed

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

depreciation for charitable trusts have been introduced in the Income Tax Act by inserting sub-section (6) of section 11 by the Finance Act, (No.2), 2014 with effect from 01/04/2015, i.e., assessment year 2015- I.T.A. Nos. 327&507/Coch/2019 16. He relied on the decision of the ITAT, Hyderabad Bench in the case of Kalinga Cultural Trust cited supra

THE DIT ( EXEMPTION), KOCHI vs. M/S.INDIAN MEDICAL ASSOCIATION COCHIN BRANCH, COCHIN

In the result, both the appeals of the Revenue are dismissed

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

depreciation for charitable trusts have been introduced in the Income Tax Act by inserting sub-section (6) of section 11 by the Finance Act, (No.2), 2014 with effect from 01/04/2015, i.e., assessment year 2015- I.T.A. Nos. 327&507/Coch/2019 16. He relied on the decision of the ITAT, Hyderabad Bench in the case of Kalinga Cultural Trust cited supra

THE NEHRU MEMORIAL EDUCATION SOCIETY,KANHANGAD vs. ITO EXEMPTIONS, KANNUR

In the result, the assessee’s appeal is allowed

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmithe Nehru Memorial The Income Tax Officer Education Society (Exemptions), Kannur Lakshmi Nivas Vs. Kanhangad - 671315 Kasaragod [Pan:Aabtt0633M] (Appellant) (Respondent)

section 10(23C)(iiiab) on the ground that the same was not made in the return of income. Commissioner of Income Tax (Appeals) failed to appreciate that his powers are co-terminus with that of the assessing authority and claim other than by a return of income could be entertained by him. 6. Without prejudice to the above arguments

ERNAKULAM REGIONAL COOPERATIVE MILK PRODUCERS UNIONS LTD.,KOCHI vs. ACIT, CIRCLE 1(1), KOCHI, KOCHI

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

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S.Assessment Year : 2012-13

11-12 and hence the remaining 50% of the additional depreciation is to be allowed in the succeeding year, i.e., AY 12-13. • Hence the assessee is entitled to full benefit of additional depreciation when the new plant and machinery is acquired and installed. The restriction under section 32(1)(ii) based on the period of usage cannot divest