THE KERALA MINERALS AND METALS LIMITED,KOLLAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, KOLLAM

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

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am Assessment Year: 2007-08 The Kerala Minerals & Metals Ltd. .......... Appellant Sankaramangalam, Chavara, Kollam 691583 [Pan: Aaact8118R] Vs. Asst. Commissioner Of Income Tax .......... Respondent Circle - 1, Kollam Appellant By: Shri Rajeev R., Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 13.05.2025 Date Of Pronouncement: 16.05.2025

depreciation. If the expenditure is treated as 7 The Kerala Minerals and Metals Ltd. revenue expenditure, it is either taken as an expenditure under Section 37(1) for computing income chargeable under the head "Profits and gains of business or profession" or treated as "current repairs" entitled to deduction under Section 31(i). Therefore, the contention of the learned Standing

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

depreciation; the question is whether the claim of the assessee conforms the deduction permissible under Section 37(1) of the Act. In the facts and circumstances of this case, we are of the view that the preoperative expenses amounting to Rs.26,97,79,538/- incurred by the assessee are revenue expenses, and are correctly so held by the Tribunal

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation in the value of the same was taken into account in the financial accounts of the Company. The profit on the sales of shares/bonds was also returned and assessed as business income of the Bank. In respect of the expenditure incurred by the appellant for buying and selling securities, the appellant claimed deduction while computing the profits and gains

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation in the value of the same was taken into account in the financial accounts of the Company. The profit on the sales of shares/bonds was also returned and assessed as business income of the Bank. In respect of the expenditure incurred by the appellant for buying and selling securities, the appellant claimed deduction while computing the profits and gains

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation in the value of the same was taken into account in the financial accounts of the Company. The profit on the sales of shares/bonds was also returned and assessed as business income of the Bank. In respect of the expenditure incurred by the appellant for buying and selling securities, the appellant claimed deduction while computing the profits and gains

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation in the value of the same was taken into account in the financial accounts of the Company. The profit on the sales of shares/bonds was also returned and assessed as business income of the Bank. In respect of the expenditure incurred by the appellant for buying and selling securities, the appellant claimed deduction while computing the profits and gains

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation in the value of the same was taken into account in the financial accounts of the Company. The profit on the sales of shares/bonds was also returned and assessed as business income of the Bank. In respect of the expenditure incurred by the appellant for buying and selling securities, the appellant claimed deduction while computing the profits and gains

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation in the value of the same was taken into account in the financial accounts of the Company. The profit on the sales of shares/bonds was also returned and assessed as business income of the Bank. In respect of the expenditure incurred by the appellant for buying and selling securities, the appellant claimed deduction while computing the profits and gains

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

37 of the Act, from making interest-free advances from out of interest- free funds, if such payments are made towards business purposes and if such payments have been made towards specified intents. yy) The following represent the statutory positions for the impugned A.Y. 2011-12 : (i) Section 14A of the Act provides for the disallowance of expenditure incurred

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

37 of the Act, from making interest-free advances from out of interest- free funds, if such payments are made towards business purposes and if such payments have been made towards specified intents. yy) The following represent the statutory positions for the impugned A.Y. 2011-12 : (i) Section 14A of the Act provides for the disallowance of expenditure incurred

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

37 of the Act, from making interest-free advances from out of interest- free funds, if such payments are made towards business purposes and if such payments have been made towards specified intents. yy) The following represent the statutory positions for the impugned A.Y. 2011-12 : (i) Section 14A of the Act provides for the disallowance of expenditure incurred

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

37 of the Act, from making interest-free advances from out of interest- free funds, if such payments are made towards business purposes and if such payments have been made towards specified intents. yy) The following represent the statutory positions for the impugned A.Y. 2011-12 : (i) Section 14A of the Act provides for the disallowance of expenditure incurred

CHERIAN VARKEY CONSTRUCTION CO.(P) LTD,COCHIN vs. THE ACIT, COCHIN

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

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am

4. The learned Departmental Representative supported the findings of the AO and the CIT(A). 3 ITA No.25/Coch/2014. M/s.Cherian Varkey Construction Co.P.Ltd. 5. We have heard rival submissions and perused the material on record. The assessee had purchased the following assets:- Sl. Particulars of assets Value Depreciation Additional No. on which depreciation depreciation is claimed 1. Transit Mixers

TAG CHEMICALS (INDIA) PRIVATE LTD,ERNAKULAM vs. ACIT CIRCLE 1(1) , TRIVANDRUM

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Tag Chemicals (India) Pvt. Ltd. Acit, Circle - 1(1) Kinfra Bio-Technology & Trivandrum Industrial Zone Vs. Thrikkakara North Part Hmt Colony, Ernakulam 683503 [Pan: Aacct8064G] (Appellant) (Respondent)

37 of the Act if depreciation is denied. 7. On the other hand, the learned Sr. D.R. vehemently supported the orders of the authorities below. 8. We have heard the rival contentions of both the parties and perused the materials available on record. At the outset, we note that the Mumbai Tribunal in the case cited above has decided

AYUR GREEN AYURVEDA HOSPITALS PRIVATE LIMITED,MALAPPURAM vs. DCIT, CPC, BENGALURU, BENGALURU

In the result, the assessee’s appeal is dismissed

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmiayurgreen Ayurveda Hospsitals Vs Dcit, Private Limited Cpc, Door No. 1/301 Ayurgreen Bengaluru. Ayurveda Hospitals, Kaladi Mlp Edappal, Malappuram-679585. (Appellant) (Respondent) Pan No. Aaica 4294 M

37, on the other hand, deal primarily with business, commercial or professional expenditure, under various heads (including depreciation). Each of these deductions, has its contours, depending upon the expressions used, and the 14 Ayurgreen Ayurveda Hospitals Pvt. Ltd. conditions that are to be met. It is therefore necessary to bear in mind that specific enumeration of deductions, dependent upon fulfillment

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

section 37(1), as well as, without prejudice, u/s. 40(b)(i) r/w Explanation 4 thereto. As it appears to us, being in fact apparent, as also admitted, the claim for remuneration to partners is calibrated to the profits of the firm and, thus, determined only after the close of the year, i.e., is an afterthought, with a view

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

section 37(1), as well as, without prejudice, u/s. 40(b)(i) r/w Explanation 4 thereto. As it appears to us, being in fact apparent, as also admitted, the claim for remuneration to partners is calibrated to the profits of the firm and, thus, determined only after the close of the year, i.e., is an afterthought, with a view

M/S SULAIKHA CLAY MINES,TRIVANDRUM vs. DCIT ,CIRCLE 1(2), TRIVANDRUM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

section 37(1), as well as, without prejudice, u/s. 40(b)(i) r/w Explanation 4 thereto. As it appears to us, being in fact apparent, as also admitted, the claim for remuneration to partners is calibrated to the profits of the firm and, thus, determined only after the close of the year, i.e., is an afterthought, with a view

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

section 37(1), as well as, without prejudice, u/s. 40(b)(i) r/w Explanation 4 thereto. As it appears to us, being in fact apparent, as also admitted, the claim for remuneration to partners is calibrated to the profits of the firm and, thus, determined only after the close of the year, i.e., is an afterthought, with a view