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28 results for “depreciation”+ Section 154clear

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Key Topics

Section 15449Section 143(3)23Section 10A18Rectification u/s 15416Depreciation13Addition to Income13Section 26312Section 25012Section 220(2)12Section 244A

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

In the result, the appeal by the assessee is dismissed

ITA 284/COCH/2024[2008-2009]Status: DisposedITAT Cochin27 May 2025AY 2008-2009

Bench: Shri Inturi Rama Raoshri Sandeep Singh Karhailthe South Indian Bank Limited, Head Office, Mission Quarters, Tb Road, Thrissur Kerala - 680001 ............... Appellant Pan : Aabct0022F V/S Dcit, Circle – 1(1) & Tps ……………… Respondent Thrissur, Kerala

For Appellant: Shri Naresh C, CAFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 115Section 142(1)Section 143(2)Section 143(3)Section 154Section 234BSection 234DSection 250

depreciation on the factory buildings was wrongly allowed at 5% instead of 10%. The taxpayer further claimed that if the limitation is computed from 12/07/1982, i.e. the date on which the order under section 154

Showing 1–20 of 28 · Page 1 of 2

12
Disallowance11
Section 234D8

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

In the result, the appeal by the assessee is allowed

ITA 628/COCH/2024[2018-19]Status: DisposedITAT Cochin27 May 2025AY 2018-19

Bench: Shri Inturi Rama Raoshri Sandeep Singh Karhailthe South Indian Bank Limited, Head Office, Mission Quarters, Tb Road, Thrissur Kerala - 680001 ............... Appellant Pan : Aabct0022F V/S Pcit, Aayakar Bhavan, North Block, ……………… Respondent New Annex Building Mananchira, Kozhikode Kerala.

For Appellant: Shri Naresh C, CAFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 142(1)Section 143Section 143(2)Section 143(3)Section 154Section 250Section 263Section 36(1)(vii)Section 36(1)(viia)Section 36(2)(v)

depreciation on investments, the submission made and attached documents filed were seen. After consideration of the matter, it is seen that setting aside of the assessment on those issues is not called for.” 7. On 14/02/2024, the learned PCIT issued notice under section 154

JULIUS RUBEN,KOCHI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), KOCHI

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

ITA 219/COCH/2025[2015-16]Status: DisposedITAT Cochin16 May 2025AY 2015-16

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: Sri.A.Gopalakrishnan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 139(4)Section 143(3)Section 154Section 250Section 40A(3)

154 invoked by the Ld. Assessing Authority is legally not sustainable. 6. The Hon. Commissioner of Income Tax (Appeals) should have accepted that the provisions of section 40A(3) are applicable only to the extent of disallowance of such expenditure which is otherwise allowable as deduction in the computation of profits and gains from business or profession computed in accordance

SHAHUL HAMEED,MANANTHAVADY vs. ITO, WARD-2, KALPETTA

In the result, the appeal by the assessee is allowed

ITA 355/COCH/2024[2014-2015]Status: DisposedITAT Cochin27 Mar 2025AY 2014-2015

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: --- None ---For Respondent: Smt.Leena Lal, Sr.AR
Section 115Section 133ASection 143(3)Section 147Section 148Section 154Section 250Section 69

154 of the Act and held that the conclusion drawn in the order passed under section 143(3) read with section 147 of the Act was a result of conscious decision taken by the AO based on his interpretation of the 4 ITA No.355/Coch/2024. Sri.Sahul Hameed. law in the provisions of the Act, therefore is not an issue which could

M/S.TRIVANDRUM CLUB,TRIVANDRUM vs. THE ASSISTANT DIRECTOR OF INCOMETAX( EXEMPTION), TRIVANDRUM

In the result, the appeal of the assessee is allowed

ITA 138/COCH/2017[1998-99]Status: DisposedITAT Cochin16 Jan 2019AY 1998-99

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

Section 154

section 154 of the Act, can rectify any mistake apparent from the record. If it is a mistake which requires to be established by a complicated process of investigation, argument or proof it cannot be regarded as a mistake apparent from the record. The CIT(A) observed that after giving effect to the ITAT order vide order dated

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

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

ITA 37/COCH/2020[2009-10]Status: DisposedITAT Cochin19 Dec 2022AY 2009-10

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

For Appellant: NoneFor Respondent: Smt. J M Jamuna Devi, Sr DR
Section 143(3)Section 154

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

THRISSUR DISTRICT POLICE CO OPERATIVE SOCIETY LTD,THRISSUR vs. INCOME TAX OFFICER, THRISSUR

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

ITA 408/COCH/2024[2014-15]Status: DisposedITAT Cochin19 May 2025AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

For Appellant: Shri M.Ramdas, CAFor Respondent: Smt. Leena Lal, Sr. A.R
Section 154Section 250Section 253(5)

154 read with section 250 of the act, the ld. CIT(A)/NFAC has wrongly mentioned the addition figure as ₹ 1, 61,41,520/- as against the actual figure of ₹ 53,85,753/- 9. The ld. DR on the other hand relied upon the order of the ld. CIT (A)/NFAC. 10. On going through the orders

THRISSUR DISTRICT POLICE CO OPERATIVE SOCIETY LTD,THRISSUR vs. INCOME TAX OFFICER, THRISSUR

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

ITA 409/COCH/2024[2016-17]Status: DisposedITAT Cochin19 May 2025AY 2016-17

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

For Appellant: Shri M.Ramdas, CAFor Respondent: Smt. Leena Lal, Sr. A.R
Section 154Section 250Section 253(5)

154 read with section 250 of the act, the ld. CIT(A)/NFAC has wrongly mentioned the addition figure as ₹ 1, 61,41,520/- as against the actual figure of ₹ 53,85,753/- 9. The ld. DR on the other hand relied upon the order of the ld. CIT (A)/NFAC. 10. On going through the orders

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS ,KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 242/COCH/2023[2014-15]Status: DisposedITAT Cochin14 May 2025AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

section 32(1)(ii) of the Act. Accordingly, the appellant made a claim for allowance of depreciation at the rate of 25% of the sum paid, placing reliance on the following decisions :- (i) Pentasoft Technologies Ltd. v. DDCIT, Tax case (Appeals) No.1195 by Hon’ble Madras High Court. (ii) Ind Global Corporate Fiannce (P) Ltd. v. ITO (2013) 33 taxmann.com

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS ,KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 239/COCH/2023[2011-12]Status: DisposedITAT Cochin14 May 2025AY 2011-12

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

section 32(1)(ii) of the Act. Accordingly, the appellant made a claim for allowance of depreciation at the rate of 25% of the sum paid, placing reliance on the following decisions :- (i) Pentasoft Technologies Ltd. v. DDCIT, Tax case (Appeals) No.1195 by Hon’ble Madras High Court. (ii) Ind Global Corporate Fiannce (P) Ltd. v. ITO (2013) 33 taxmann.com

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS ,KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 240/COCH/2023[2012-13]Status: DisposedITAT Cochin14 May 2025AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

section 32(1)(ii) of the Act. Accordingly, the appellant made a claim for allowance of depreciation at the rate of 25% of the sum paid, placing reliance on the following decisions :- (i) Pentasoft Technologies Ltd. v. DDCIT, Tax case (Appeals) No.1195 by Hon’ble Madras High Court. (ii) Ind Global Corporate Fiannce (P) Ltd. v. ITO (2013) 33 taxmann.com

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS "JRG SECURITIES LTD"),KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 243/COCH/2023[2017-18]Status: DisposedITAT Cochin14 May 2025AY 2017-18

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

section 32(1)(ii) of the Act. Accordingly, the appellant made a claim for allowance of depreciation at the rate of 25% of the sum paid, placing reliance on the following decisions :- (i) Pentasoft Technologies Ltd. v. DDCIT, Tax case (Appeals) No.1195 by Hon’ble Madras High Court. (ii) Ind Global Corporate Fiannce (P) Ltd. v. ITO (2013) 33 taxmann.com

M/S INDITRADE CAPITAL LTD (PREVIOUSLY KNOWN AS ,KOCHI vs. THE ITO, CORPORATE WARD1(1),, KOCHI

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

ITA 241/COCH/2023[2013-14]Status: DisposedITAT Cochin14 May 2025AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

For Appellant: Sri.Aneesh Vishwanathan, CAFor Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 32(1)(ii)

section 32(1)(ii) of the Act. Accordingly, the appellant made a claim for allowance of depreciation at the rate of 25% of the sum paid, placing reliance on the following decisions :- (i) Pentasoft Technologies Ltd. v. DDCIT, Tax case (Appeals) No.1195 by Hon’ble Madras High Court. (ii) Ind Global Corporate Fiannce (P) Ltd. v. ITO (2013) 33 taxmann.com

TRICHUR HEART HOSPITAL LIMITED,THRISSUR vs. DCIT, CIRCLE 1(1) & TPS, THRISSUR

In the result, the appeal of the assessee is dismissed

ITA 916/COCH/2024[2017-18]Status: DisposedITAT Cochin12 Aug 2025AY 2017-18

Bench: Shri Inturi Rama Rao & Shri Sonjoy Sarma

Section 143(3)Section 154Section 68

depreciation allowable on such asset is only 15%. Further, the assessee I.T.A. No.916/COCH/2024 Trichur Heart Hospital Ltd had claimed Rs.11,02,558/-in its Profit& Loss account as loss on revaluation of hospital instruments, which was noted to be notional in nature and hence not allowable. Based on these objections, notice under Section 154

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

Appeal is allowed

ITA 233/COCH/2024[2006-2007]Status: DisposedITAT Cochin23 Oct 2024AY 2006-2007

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Naresh S., CAFor Respondent: Dr. S. Pandian, CIT-DR
Section 153Section 154Section 220(2)Section 234DSection 244ASection 244aSection 250

154 of the Act as its purpose is to deal with the apparent mistake on record pertaining to previous year 2003-04 only. Be that as it may, we are of the view that rectification is not meant to deal with detailed fishing enquiries TS Balram, ITO vs. Volkart Bros. [1971] 82 ITR 50 (SC). We thus reject the assessee

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

Appeal is allowed

ITA 285/COCH/2024[2013-2014]Status: DisposedITAT Cochin23 Oct 2024AY 2013-2014

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Naresh S., CAFor Respondent: Dr. S. Pandian, CIT-DR
Section 153Section 154Section 220(2)Section 234DSection 244ASection 244aSection 250

154 of the Act as its purpose is to deal with the apparent mistake on record pertaining to previous year 2003-04 only. Be that as it may, we are of the view that rectification is not meant to deal with detailed fishing enquiries TS Balram, ITO vs. Volkart Bros. [1971] 82 ITR 50 (SC). We thus reject the assessee

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

Appeal is allowed

ITA 286/COCH/2024[2014-2015]Status: DisposedITAT Cochin23 Oct 2024AY 2014-2015

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Naresh S., CAFor Respondent: Dr. S. Pandian, CIT-DR
Section 153Section 154Section 220(2)Section 234DSection 244ASection 244aSection 250

154 of the Act as its purpose is to deal with the apparent mistake on record pertaining to previous year 2003-04 only. Be that as it may, we are of the view that rectification is not meant to deal with detailed fishing enquiries TS Balram, ITO vs. Volkart Bros. [1971] 82 ITR 50 (SC). We thus reject the assessee

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

Appeal is allowed

ITA 288/COCH/2024[2019-2020]Status: DisposedITAT Cochin23 Oct 2024AY 2019-2020

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Naresh S., CAFor Respondent: Dr. S. Pandian, CIT-DR
Section 153Section 154Section 220(2)Section 234DSection 244ASection 244aSection 250

154 of the Act as its purpose is to deal with the apparent mistake on record pertaining to previous year 2003-04 only. Be that as it may, we are of the view that rectification is not meant to deal with detailed fishing enquiries TS Balram, ITO vs. Volkart Bros. [1971] 82 ITR 50 (SC). We thus reject the assessee

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

Appeal is allowed

ITA 283/COCH/2024[2008-2009]Status: DisposedITAT Cochin23 Oct 2024AY 2008-2009

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Naresh S., CAFor Respondent: Dr. S. Pandian, CIT-DR
Section 153Section 154Section 220(2)Section 234DSection 244ASection 244aSection 250

154 of the Act as its purpose is to deal with the apparent mistake on record pertaining to previous year 2003-04 only. Be that as it may, we are of the view that rectification is not meant to deal with detailed fishing enquiries TS Balram, ITO vs. Volkart Bros. [1971] 82 ITR 50 (SC). We thus reject the assessee

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

Appeal is allowed

ITA 232/COCH/2024[2004-2005]Status: DisposedITAT Cochin23 Oct 2024AY 2004-2005

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Naresh S., CAFor Respondent: Dr. S. Pandian, CIT-DR
Section 153Section 154Section 220(2)Section 234DSection 244ASection 244aSection 250

154 of the Act as its purpose is to deal with the apparent mistake on record pertaining to previous year 2003-04 only. Be that as it may, we are of the view that rectification is not meant to deal with detailed fishing enquiries TS Balram, ITO vs. Volkart Bros. [1971] 82 ITR 50 (SC). We thus reject the assessee