CSB BANK LTD.,THRISSUR vs. DCIT CIRCLE 1(1) & TPS THRISSUR, THRISSUR

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2016-17

263 was issued to the assessee on 12.02.2021. In response to the same the assessee made a detailed submission stating their points of contention in each issue. The points of contention in each issue are summarised as under: 2.1 Allowability of provision for sick leave 1. The assessee states that the section 43B(f) provides that any sum payable

CSB BANK LTD ( FORMERLY THE CATHOLIC SRIAN BANK LTD,THRISSUR vs. THE PR CIT, KOZHIKKODE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2016-17

263 was issued to the assessee on 12.02.2021. In response to the same the assessee made a detailed submission stating their points of contention in each issue. The points of contention in each issue are summarised as under: 2.1 Allowability of provision for sick leave 1. The assessee states that the section 43B(f) provides that any sum payable

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

263 of the Income Tax Act, 1961 (the Act) wherein the learned revisionary authority had extracted its jurisdiction only for the purpose of computation of net profit so as to finalise the book profit u/s. 115JB(2) of the Act. We conclude that within the given facts, there is no issue of actual write-off in principle. Rejected accordingly. Cochin

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

263 of the Income Tax Act, 1961 (the Act) wherein the learned revisionary authority had extracted its jurisdiction only for the purpose of computation of net profit so as to finalise the book profit u/s. 115JB(2) of the Act. We conclude that within the given facts, there is no issue of actual write-off in principle. Rejected accordingly. Cochin

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

263 of the Income Tax Act, 1961 (the Act) wherein the learned revisionary authority had extracted its jurisdiction only for the purpose of computation of net profit so as to finalise the book profit u/s. 115JB(2) of the Act. We conclude that within the given facts, there is no issue of actual write-off in principle. Rejected accordingly. Cochin

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

263 of the Income Tax Act, 1961 (the Act) wherein the learned revisionary authority had extracted its jurisdiction only for the purpose of computation of net profit so as to finalise the book profit u/s. 115JB(2) of the Act. We conclude that within the given facts, there is no issue of actual write-off in principle. Rejected accordingly. Cochin

M/S.ROADS AND BRIDGES DEVELOPMENT CORPN OF KERALA LTD,ERNAKULAM vs. THE ACIT, KOCHI

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

Bench: Smt. Beena Pillai & Ms. Padmavathy Sassessment Year : 2016-17

depreciation claimed by the company. The subject matter of the appeal is the same as the matter raised in the proceedings u/s 263 which is barred as per Clause (c) of Explanation 1 of Section

PARISONS FOODS PRIVATE LTD,CALICUT vs. DCIT , CIRCLE 1(1), KOZHIKODE

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K.(Through Virtual Hearing) Parisons Foods Pvt. Ltd. Dcit, Circle - 1(1) 6/1183, Kunhipari Buildins Kozhikode Calicut 673032 Vs. Pan – Aaccp2898J (Appellant) (Respondent) Assessee By: Shri Surendranath Rao, Ca Revenue By: Shri Ilaiyaraja, K.S., Sr. Dr Date Of Hearing: 11.06.2024 Date Of Pronouncement: 27.06.2024 O R D E R Per: Soundararajan K., J.M. This Appeal Filed By The Assessee Challenges The Order Of The National Faceless Appeal Centre, Delhi (Cit(A)) Dated 01.02.2023 Passed Under Section 250 Of The Income Tax Act, 1961 (The Act) In Respect Of Assessment Year (Ay) 2005-06. 2. The Assessee Is In The Business Of Refining & Sale Of Crude Edible Oil & Filed Its Return Of Income On 29.10.2005 & The Assessment Was Completed Under Section 143(3) Of The Act By Accepting The Returns. Subsequently The Cit Invoked His Suo Moto Revision Powers Under Section 263 Of The Act To Disallow The Additional Depreciation Claimed U/S 32(1)(Iia) Of The Act & Directed The Ao To Complete The Assessment De Novo By Considering The Claim Of Additional Depreciation Of 15%. Thereafter The Ld. Ao

Section 263 of the Act to disallow the additional depreciation claimed u/s 32(1)(iia) of the Act and directed

M/S.COOL MINDS TECHNOLOGIES P. LTD,COCHIN vs. THE ACIT, COCHIN

The appeals are dismissed

Bench: CIT(A) the it was claimed by the Assessee that deduction under Section 10B of the Act was initially claimed by the Assessee under the bona fide belief that it is entitled to deduction under Section 10B of the Act. The CITT(A) dismissed the appeal of the Assessee agreeing with the Assessing Officer and holding that the Assessing Officer was justified in not considering the claim made by the Assessee under Section 10A of the Act. Now the Assessee is in

263 of the Act and the order of the CIT may be cancelled. In our opinion, though the assessee made the claim before the CIT that the assessee is entitled for deduction u/s 10A, the claim of sec. 10A was not examined by the lower authorities and the CIT straight away directed the AO to withdraw the exemption made

CABOT TECHNOLOGY SOLUTION PRIVATE LIMITED,KOCHI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, KOCHI-1, KOCHI

In the result, the assessee’s appeal is disposed of on the afore-stated terms

Bench: Shri Sanjay Arora & Shri Manomohan Dascabot Technology Solutions Principal Commissioner Of Pvt. Ltd. Income Tax – 1 204, 2Nd Floor, Lulu Cyber Tower Vs. Cr Building , Is Press Infopark, Kochi 682042 Road, Kochi 682018 [Pan:Aadcc 9320K] (Appellant) (Respondent) Assessee By: Shri Allen Joseph, Ca Revenue By: Shri Sajit Kumar Das, Cit- D.R. Date Of Hearing: 18.10.2023 Date Of Pronouncement: 31.10.2023 O R D E R Per Sanjay Arora, Am This Is An Appeal By The Assessee Agitating The Revision Of It’S Order Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’) Dated 20.12.2019 For Assessment Year (Ay) 2017-18 By The Principal Commissioner Of Income Act (Pr. Cit), Vide His Order Dated 18.01.2022. 2.1 The Brief Facts Of The Case Are That The Assessee, A Company In Software Development Business, Returned, For The Relevant Year, An Income Of Rs.3,67,574 Under The Regular Provisions Of The Act & A Book-Profit Of Rs.14,33,474 U/S.115Jb Of The Act, Paying The Higher Tax On The Latter. The Same Was Subject To Regular Assessment, Determining The Income Under The Regular Provisions At Rs. 8,10,750 & At The Returned Book-Profit Under Mat Provisions. The Assessment Record Was Subsequently Examined By The Learned Pr. Cit In Exercise Of His Revisionary

depreciation in a higher sum, even as the same would not impact the tax liability, being still higher u/s.115JB of the Act. As regards deduction u/s. 10AA of the Act, the amendment to the said section by Finance Act, 2017, w.e.f. 01.04.2018, made it amply clear that the deduction thereunder is to be with reference to the ‘total income’ computed

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

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, 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, 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

THE ITO,, ALAPPUZHA vs. M/S.EXTRAWEAVE P. LTD, ALAPPUZHA

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

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Extraweave Pvt. Ltd. Arattukulangara Complex 264B/Cmc 1 Vs. A.N. Puram, Alapuzha 688011 Sakteeswara Junction Cherthala 688524 Pan – Aabce5438L Appellant Respondent

depreciation carried forward from previous years. For these and other grounds that may be advanced at the time of hearing, the order of the learned Commissioner of Income tax (Appeals) on the above points may be set aside and that of the Assessing Officer restored.” 3. In respect of ground Nos. 2 & 3 there was a disallowance of Rs.55

THE ACIT, COCHIN vs. M/S.PVR TOURIST HOME, COCHIN

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm Assessment Year: 2012-13 Acit, Circle-1, Non-Corporate .......... Appellant Iind Floor, C.R. Building, I.S. Press Road Ernakulam 682018 Vs. Pvr Tourist Home .......... Respondent Palarivattom, Kochi 682025 [Pan: Aadfp3442Q] Appellant By: Shri Suresh Sivanandan, Cit-Dr Respondent By: Shri Mohan Pulickal, Advocate Date Of Hearing: 10.03.2025 Date Of Pronouncement: 21.03.2025

depreciated value, the Assessing Officer accepted the transaction as one falling u/s. 50(1) of the Act not attracting any capital gains tax because the transfer was at the book value. The Commissioner acting under section 263

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

section." 3.6 In view of the above, Ld. Principal CIT set aside the assessment and directed the Assessing Officer to do fresh assessment after giving a reasonable opportunity of being heard to the assessee. 4. We have heard the rival submissions and perused the materials available on record. In this case, the PCIT exercised jurisdiction u/s 263

M/S.SUDCHEMIE INDIA P. LTD,ERNAKULAM vs. THE ACIT, KOCHI

In the result, the assessee’s appeal is dismissed

Bench: Shri Sanjay Arora & Shri Soundararajan K.

section 143(3) of the Act dated 30.12.2018 for Assessment Year (AY) 2016-17. 2.1 Opening the arguments for and on behalf of the assessee, it was submitted by Shri Bhatt, it’s learned counsel, that even as the impugned order makes several interventions to the assessee’s assessment, i.e., on which the ld. Pr. CIT, the competent authority, found

M/S. VYSALI PHARMACEUTICALS LTD.,ERNAKULAM vs. THE PCIT, KOCHI-1, KOCHI

In the result, the assessee’s appeal is dismissed

Bench: Shri Sanjay Arora & Shri Manomohan Dasvysali Pharmaceuticals Ltd. The Principal Commissioner Ix/639, Edathala P.O. Of Income Tax -1 Vs. Ernakulam 683561 C.R. Building, I.S. Press Road [Pan:Aaacv 5491P] Kochi - 682018 (Appellant) (Respondent) Assessee By: Shri Narayanan P. Potty, Advocate Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 19.10.2023 Date Of Pronouncement: 17.01.2024 O R D E R Per Sanjay Arora, Am This Appeal By The Assessee Agitates The Revision Of It’S Assessment Under Section 143(3) Of Income Tax Act, 1961 (‘The Act’) Dated 30/10/2019 For Assessment Year (Ay) 2017-18 By The Principal Commissioner Of Income Tax-1, Kochi (Pr. Cit) Vide Order Under Section 263 Of The Act Dated 30.03.2022. 2. The 68-Day Delay In Filing The Appeal Is Explained By An Affidavit Dated 14.7.2023 By Shri A.D. Krishnan, Managing Director Of The Assessee-Company. We Find The Reasons Stated Therein As Genuine & Debilitative Of The Assessee’S Capacity In Filing The Appeal In Time. The Appeal Was Accordingly Admitted & The Hearing Proceeded With.

section 263 of the Act dated 30.03.2022. 2. The 68-day delay in filing the appeal is explained by an Affidavit dated 14.7.2023 by Shri A.D. Krishnan, Managing Director of the assessee-company. We find the reasons stated therein as genuine and debilitative of the assessee’s capacity in filing the appeal in time. The appeal was accordingly admitted