JUBILEE MISSION HOSPITAL,THRISSUR vs. THE DCIT, KOCHI

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

3. To answer the above question, we need to note the changes undergone by section 147 of the Income-tax Act, 1961 (for short, “The Act”). Prior to the Direct Tax Laws (Amendment) Act, 1987, section 147 reads as under: “147. Income escaping assessment. –If— (a) The Income-tax Officer has reason to believe that, by reason of the omission

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

3. To answer the above question, we need to note the changes undergone by section 147 of the Income-tax Act, 1961 (for short, “The Act”). Prior to the Direct Tax Laws (Amendment) Act, 1987, section 147 reads as under: “147. Income escaping assessment. –If— (a) The Income-tax Officer has reason to believe that, by reason of the omission

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

145 (Delhi) iv. CIT vs. Motor Sales Ltd. [2008] 304 ITR 123 (All) v. CIT vs. Bharti Televenture Ltd. [2011] 200 Taxman 39 (Mag)/11 taxmann.com 356 (Delhi) vi. K. Industries Ltd. v. CIT [2011] 11 taxmann.com 72 (Cal.) (vi); vii. CIT vs. Indian Sugar Exim Corpn. Ltd. [2012] 206 Taxman 242/19 taxmann.com 158 (Delhi). In the light

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

145 (Delhi) iv. CIT vs. Motor Sales Ltd. [2008] 304 ITR 123 (All) v. CIT vs. Bharti Televenture Ltd. [2011] 200 Taxman 39 (Mag)/11 taxmann.com 356 (Delhi) vi. K. Industries Ltd. v. CIT [2011] 11 taxmann.com 72 (Cal.) (vi); vii. CIT vs. Indian Sugar Exim Corpn. Ltd. [2012] 206 Taxman 242/19 taxmann.com 158 (Delhi). In the light

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

145 (Delhi) iv. CIT vs. Motor Sales Ltd. [2008] 304 ITR 123 (All) v. CIT vs. Bharti Televenture Ltd. [2011] 200 Taxman 39 (Mag)/11 taxmann.com 356 (Delhi) vi. K. Industries Ltd. v. CIT [2011] 11 taxmann.com 72 (Cal.) (vi); vii. CIT vs. Indian Sugar Exim Corpn. Ltd. [2012] 206 Taxman 242/19 taxmann.com 158 (Delhi). In the light

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

145 (Delhi) iv. CIT vs. Motor Sales Ltd. [2008] 304 ITR 123 (All) v. CIT vs. Bharti Televenture Ltd. [2011] 200 Taxman 39 (Mag)/11 taxmann.com 356 (Delhi) vi. K. Industries Ltd. v. CIT [2011] 11 taxmann.com 72 (Cal.) (vi); vii. CIT vs. Indian Sugar Exim Corpn. Ltd. [2012] 206 Taxman 242/19 taxmann.com 158 (Delhi). In the light

M/S.KALYAN JEWELLERS INDIA LTD,THRISSUR vs. THE ACIT, THRISSUR

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2015-16

3. The Ld. PCIT observed that as per the accounting principles prescribed and followed by the company, it had accounted for said gains on mark to market basis in respect of derivative financial instruments and forward contracts in foreign exchange on the date of Balance sheet in its audited financial statements prepared for the relevant year under the companies

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

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

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

SHRI.PRAKASH R. NAIR,KOLLAM vs. DCIT, KOLLAM

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

Bench: Shri Sanjay Arora & Shri Manomohan Dasprakash R. Nair Dy.Cit, Central Circle Prop. Dhanya Foods Kollam Kochuppilammoodu Vs. Kollam 691001 [Pan:Abfpn4424P] (Appellant) (Respondent)

depreciative. More so, of the assessee pleading his case sans reference to the Tribunal’s order in his own case! Reliance thereon, in terms of 9 Prakash R. Nair v. Dy.CIT, Central Circle the clear law qua judicial precedence, is, thus, misplaced (refer: Kondiba Dagadu Kadam v. Savitribai Sopan Gujar & Others [1999] 3

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

depreciation, reducing the open written down value (WDV) thereby. No issue therefore, in our view, arises for being considered by the AO. The Revenue has no case, with the ld. Pr. CIT having himself not made any adverse comment in the matter (para 6.1) 4.3 Issue #3: Non-consideration of expenses disallowed, u/s. 115-JB ‘Perusal of the assessment order

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 thereon @ 25% U/s. 32 of the Act. The claim was allowed by the AO in the assessment made U/s. 143(3) of the Act. Now the question that comes up for our consideration is whether the “Right to Collect Toll” falls within the definition of “commercial right” or “intangible asset”?. The ITAT (Special Bench), Hyderabad in the case