DIADORA SHOES PVT LTD,CALICUT vs. ACIT CIRCLE 2(1), CALICUT

In the result, the assessee’sappeal is allowed

Bench: Shri Sanjay Arora & Shri Manomohan Dasdiadora Shoes Pvt. Ltd. Asst. Cit, Circle - 2 Vkc Tower, Kolathra P.O Calicut 673001 Vs. Calicut 673655 [Pan:Aabcd9692D] (Appellant) (Respondent)

section 32(1)(ii) by Finance Act, 2015, w.e.f. 01.04.2016, is retrospective in nature? While the assessee before us relies on the decisions in the following cases, the Revenue relies on the decision in Pr. CIT vs. Era Infrastructure(India) Ltd. [2022] 141 taxmann.com 289 (Del) (copy on record), rendered relying on the decision in Sedco Forex International Drill

M/S.APOLLO TYRES LTD,COCHIN vs. THE PRINCIPAL COMMISSIONER OF INCOMETAX, COCHIN

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

Bench: Shri Inturi Rama Rao, Am & Shri Rahul Chaudhary, Jm Assessment Year: 2013-14 Apollo Tyres Ltd. .......... Appellant 3Rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036 [Pan: Aaaca6990Q] Vs. Dcit, Corporate Circle-1(1), Kochi ......... Respondent Assessee By: Shri Abraham Joseph Markos, Adv. Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 20.08.2025 Date Of Pronouncement: 01.09.2025

section 32 of the Act. Balance additional depreciation cannot be allowed in subsequent AY, i.e. the year under consideration – Rs. 36,21,58,356/- iii. Disallowance of pre-operative expenditure details of which were extracted by the AO vide para 9 of the draft assessment order. These pre-operative expenditure was incurred for the purpose of setting

PLANT LIPIDS (P) LTD.,KADAYIRUPPU vs. DCIT , CORPORATE CIRCLE-2(1), KOCHI

In the result appeal filed by assessee stands allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubeyassessmentyear:2020-21 Plant Lipids (P) Ltd. Kadayiruppu Po Kolenchery Dcit, Vs. Kerala 682 311 Corporate Circle-2(1) Kochi Pan No : Aabcp6061C Appellant Respondent Appellant By : Shri Thomson Thomas, A.R. Respondent By : Shri Sanjit Kumar Das, D.R. Date Of Hearing : 20.02.2025 Date Of Pronouncement : 19.05.2025 O R D E R Perkeshav Dubey: This Appeal At The Instance Of The Assessee Is Directed Against The Order Of The Ao, Assessment Unit, Income Tax Department Dated 19.6.2024 Vide Din No.Itba/Ast/S/143(3)/2024- 25/1065876641(1) For The Ay 2020-21 Passed U/S 143(3) R.W.S. 144C(13) R.W.S. 144B Of The Income Tax Act, 1961 (In Short “The Act”). 2. The Assessee Has Raised Following Grounds Of Appeal: Plant Lipids (P) Ltd., Kolencherry, Kerala Page 2 Of 8

iv) of sub-section (2) of section 80G of the Act and hence, the restriction of CSR contribution is not applicable to this contribution. 7. Before us, the ld. D.R. relied on the order of authority below. 8. We have heard the rival submissions and perused the materials available on record. It is undisputed fact that the assessee had incurred

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

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

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

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

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

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

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

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

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

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

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

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case

KITEX GARMENTS LIMITED,KIZHAKKAMBALAM vs. DCIT 1(1), CORPORATE CIRCLE, KOCHI

In the result, appeal filed by the assessee stands dismissed

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am

Section 32 of the Act, the actual cost of assets alone will have to be determined, and in a broad spectrum, the subsidy is deducted even in respect of the assets which did not have value addition from or through the financial assistance received under ASIDE then the very purpose of depreciation of an asset is defeated/ undermined. The extent

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

iv) The determinative tests to consider when determining whether such statutory bodies, boards, authorities, corporations, autonomous or self-governing government sponsored bodies, are GPU category charities: (a) Does the state or central law, or the memorandum of association, constitution, etc. advance any GPU object, such as development of housing, town planning, development of industrial areas, or regulation of any activity

INFOPARKS KERALA,COCHIN vs. THE ACIT, COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

iv) The determinative tests to consider when determining whether such statutory bodies, boards, authorities, corporations, autonomous or self-governing government sponsored bodies, are GPU category charities: (a) Does the state or central law, or the memorandum of association, constitution, etc. advance any GPU object, such as development of housing, town planning, development of industrial areas, or regulation of any activity

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

iv) The determinative tests to consider when determining whether such statutory bodies, boards, authorities, corporations, autonomous or self-governing government sponsored bodies, are GPU category charities: (a) Does the state or central law, or the memorandum of association, constitution, etc. advance any GPU object, such as development of housing, town planning, development of industrial areas, or regulation of any activity

YENKEY ROLLER FLOUR MILLS,CALICUT vs. DCIT C-1(1), KOZHIKKODE

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

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am

32,87,670/-. While doing so, the AO made certain disallowances on account of disallowance of interest and disallowance on account of excess wastage and depreciation, etc. Subsequently, the AO sought to reopen the assessment by issuing notice u/s. 148 of the Act on 23.03.2013 after recording the following reasons u/s. 147 of the Act:- "Information has been received from