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13 results for “depreciation”+ Section 131clear

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Key Topics

Section 153A25Section 143(2)14Section 143(1)10Section 139(4)8Section 143(3)8Section 1327Section 132(4)7Section 647Addition to Income4Unexplained Investment

KK RADHAKRISHNAN,KANNUR vs. DCIT CENTRAL CIRCLE 2, KOZHIKODE

In the result, the assessee’s appeal is disposed on the aforesaid terms, and stay application is dismissed as infructuous

ITA 494/COCH/2023[2008-09]Status: DisposedITAT Cochin12 Jan 2024AY 2008-09

Bench: Shri Sanjay Arora & Shri Manomohan Das & Sa No. 104/Coch/2023 (Assessment Year: 2008-09)

For Appellant: Shri Pavan Ved, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132(1)Section 153ASection 153CSection 153D

section mandates that the AO of the searched person should record a finding/satisfaction that any seized asset/document belongs to some other person. There is no such finding/satisfaction. Hence the entire proceedings are null and void. [Additional Ground]. 9. The above issue was remanded to the AO and vide report dated 06/12/2021, the AO has given his comments on the same

3
Disallowance2
Cash Deposit2

SINI NOUSHAD,THRISSUR vs. THE ITO, WARD 1(3), THRISSUR

In the result, the assessee’s appeal is allowed for statistical purposes

ITA 252/COCH/2023[2017-18]Status: HeardITAT Cochin28 May 2024AY 2017-18

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal & Sa No. 144/Coch/2023 (Assessment Year: 2017-18) Sini Noushad The Income Tax Officer Poovathumkiadavil House Ward - 1(3), Thrissur Kara Post, Peethamaballur Vs. Kathiyalam, Thrissur 608671 [Pan: Emrps6227J] (Appellant) (Respondent)

For Appellant: Shri Padmanathan K.V., AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 139(1)Section 139(4)Section 142(1)Section 144Section 144A

section 144 of the Income Tax Act, 1961 (the Act) dated 27.12.2019 for Assessment Year (AY) 2017-18 by the Commissioner of Income Tax (Appeals), Income Tax Department [CIT(A)], vide his order dated 15.02.2023. The assessee has qua the instant appeal also filed a stay application. 2. The brief facts of the case are that the assessee

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

ITA 25/COCH/2017[2011-2012]Status: DisposedITAT Cochin24 Apr 2023AY 2011-2012

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.

For Appellant: Shri Joseph Markose, Sr. AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 139(1)Section 143(3)

depreciation, being AY 2010-11, and AY 2012-13 onwards, had exceeded his jurisdiction? 4 | P a g e Kings Infra Ventures Ltd. v. Asst. CIT 4.2 Our first observation in the matter is that there is nothing on record; in fact, not even a contention to that effect at any stage, of the assessee having returned the income

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

In the result, the assessee’s appeal is allowed

ITA 159/COCH/2023[2013-14]Status: DisposedITAT Cochin07 Mar 2024AY 2013-14

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)

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 10Section 11(1)Section 11(1)(d)Section 12ASection 143(1)Section 143(1)(a)Section 154Section 2

131(31)/81- TP(Pt.)] dated 11-01-1982. 5. The benefit of sec. 10(23C)(iiiab) is also applicable to the Appellant as the Institution is an educational institution existing solely for educational purpose and not for the purpose of profit and which is substantially financed by the Government. 6. On an any other Grounds that may be adduced

V D DEVASIA,KOTTAYAM vs. ACIT, KOTTAYAM

In the result, the appeals by the assessees are partly allowed and partly allowed for statistical purposes

ITA 49/COCH/2022[2013-2014]Status: DisposedITAT Cochin29 Sept 2023AY 2013-2014

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132Section 132(4)Section 139(4)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 64

131 (Ker), would survive only where incriminating material had been found during search, initiated by issue of warrant on 22/9/2014, which led to the assumption of jurisdiction to assess and issue of notice u/s. 153A of the Act by the Assessing Officer (AO). 3. We shall proceed assessee-wise and year wise. I. Shri C.T. Kurian

CHENGAZHASSERIL THOMAS KURIAN,KOTTAYAM vs. ACIT CENTRAL CIRCLE KOTTAYAM, KOTTAYAM

In the result, the appeals by the assessees are partly allowed and partly allowed for statistical purposes

ITA 474/COCH/2022[2014-2015]Status: DisposedITAT Cochin29 Sept 2023AY 2014-2015

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132Section 132(4)Section 139(4)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 64

131 (Ker), would survive only where incriminating material had been found during search, initiated by issue of warrant on 22/9/2014, which led to the assumption of jurisdiction to assess and issue of notice u/s. 153A of the Act by the Assessing Officer (AO). 3. We shall proceed assessee-wise and year wise. I. Shri C.T. Kurian

V D DEVASIA,KOTTAYAM vs. ACIT, KOTTAYAM

In the result, the appeals by the assessees are partly allowed and partly allowed for statistical purposes

ITA 47/COCH/2022[2011-2012]Status: DisposedITAT Cochin29 Sept 2023AY 2011-2012

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132Section 132(4)Section 139(4)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 64

131 (Ker), would survive only where incriminating material had been found during search, initiated by issue of warrant on 22/9/2014, which led to the assumption of jurisdiction to assess and issue of notice u/s. 153A of the Act by the Assessing Officer (AO). 3. We shall proceed assessee-wise and year wise. I. Shri C.T. Kurian

CHENGAZHASSERIL THOMAS KURIAN,KOTTAYAM vs. ACIT CENTRAL CIRCLE KOTTAYAM, KOTTAYAM

In the result, the appeals by the assessees are partly allowed and partly allowed for statistical purposes

ITA 473/COCH/2022[ 2012-2013]Status: DisposedITAT Cochin29 Sept 2023

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132Section 132(4)Section 139(4)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 64

131 (Ker), would survive only where incriminating material had been found during search, initiated by issue of warrant on 22/9/2014, which led to the assumption of jurisdiction to assess and issue of notice u/s. 153A of the Act by the Assessing Officer (AO). 3. We shall proceed assessee-wise and year wise. I. Shri C.T. Kurian

CHENGAZHASSERIL THOMAS KURIAN,KOTTAYAM vs. ACIT CENTRAL CIRCLE KOTTAYAM, KOTTAYAM

In the result, the appeals by the assessees are partly allowed and partly allowed for statistical purposes

ITA 472/COCH/2022[2011-2012]Status: DisposedITAT Cochin29 Sept 2023AY 2011-2012

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132Section 132(4)Section 139(4)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 64

131 (Ker), would survive only where incriminating material had been found during search, initiated by issue of warrant on 22/9/2014, which led to the assumption of jurisdiction to assess and issue of notice u/s. 153A of the Act by the Assessing Officer (AO). 3. We shall proceed assessee-wise and year wise. I. Shri C.T. Kurian

V D DEVASIA,KOTTAYAM vs. ACIT, KOTTAYAM

In the result, the appeals by the assessees are partly allowed and partly allowed for statistical purposes

ITA 48/COCH/2022[2012-2013]Status: DisposedITAT Cochin29 Sept 2023AY 2012-2013

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132Section 132(4)Section 139(4)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 64

131 (Ker), would survive only where incriminating material had been found during search, initiated by issue of warrant on 22/9/2014, which led to the assumption of jurisdiction to assess and issue of notice u/s. 153A of the Act by the Assessing Officer (AO). 3. We shall proceed assessee-wise and year wise. I. Shri C.T. Kurian

V D DEVASIA,KOTTAYAM vs. ACIT, KOTTAYAM

In the result, the appeals by the assessees are partly allowed and partly allowed for statistical purposes

ITA 50/COCH/2022[2014-2015]Status: DisposedITAT Cochin29 Sept 2023AY 2014-2015

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132Section 132(4)Section 139(4)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 64

131 (Ker), would survive only where incriminating material had been found during search, initiated by issue of warrant on 22/9/2014, which led to the assumption of jurisdiction to assess and issue of notice u/s. 153A of the Act by the Assessing Officer (AO). 3. We shall proceed assessee-wise and year wise. I. Shri C.T. Kurian

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

ITA 254/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Oct 2023AY 2014-15

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)

For Appellant: Shri T.M. Sreedharan, Sr. Advocate (with Smt. Divya Ravindran, Adv. with him)For Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 131(1)Section 133ASection 147Section 148(1)Section 69

depreciable asset, it’s WDV. When it is therefore stated therein that VHPL would thus become the absolute owner of it’s assets, the same is to be understood as stated in a loose manner; the acquisition of the entire share-holding in Manko, a private company, giving it complete control over and a de facto ownership it’s business

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

ITA 206/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Oct 2023AY 2014-15

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)

For Appellant: Shri T.M. Sreedharan, Sr. Advocate (with Smt. Divya Ravindran, Adv. with him)For Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 131(1)Section 133ASection 147Section 148(1)Section 69

depreciable asset, it’s WDV. When it is therefore stated therein that VHPL would thus become the absolute owner of it’s assets, the same is to be understood as stated in a loose manner; the acquisition of the entire share-holding in Manko, a private company, giving it complete control over and a de facto ownership it’s business