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40 results for “depreciation”+ Section 56clear

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Key Topics

Section 153A25Section 143(3)21Section 14721Section 14820Section 11(2)20Depreciation18Addition to Income18Section 143(2)15Disallowance15Section 40

SILLS KARINGATTIL JOSE,NEDUMKANDOM vs. ITO WARD 2, THODUPUZHA

Appeal is partly allowed for statistical purpose

ITA 132/COCH/2023[2016-17]Status: DisposedITAT Cochin19 Nov 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhsils Karingattil Jose Income Tax Officer Np 3/406, Karingattil Ward - 2, House, Munnar Road Thodupuzha Vs. Nedumkandom P.O. [Pan: Afopj8789C] (Appellant) (Respondent)

For Appellant: Shri P. M. Veeramani, CAFor Respondent: Smt. V. Swarnalatha, Sr. D.R
Section 2(47)Section 2(47)(V)Section 250Section 50CSection 53ASection 56(2)(vii)

Section 56(2)(vii)(c)(ii) addition deserves to be reversed. 15 Sils Karingattil Jose 8. The assessee’s last stand is that the impugned “rights” issue in fact had depreciated

Showing 1–20 of 40 · Page 1 of 2

12
Section 1112
Deduction9

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

ITA 25/COCH/2014[2006-07]Status: DisposedITAT Cochin29 Jun 2022AY 2006-07

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

For Appellant: Smt.Parvathy Ammal, CAFor Respondent: Smt.J.M.Jamunna Devi, Sr.DR
Section 32(1)(iia)

depreciation is claimed 1. Transit Mixers 65,62,774 8,20,346 6,56,277 2. Truck 85,86,528 10,73,316 8,58,653 Total 1,51,49,302 18,93,662 15,14,930 3. Other plant and 9,44,574 machineries Total 24,59,504 5.1 The sample copies of the invoices for the Transit Mixers

SRI.K.P. JOHNY,THRISSUR vs. THE DCIT, CIRCLE-2(1), THRISSUR

In the result, both the assessee’s and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

ITA 206/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Oct 2023AY 2014-15

Bench: Shri Sanjay Arora & Shri Manomohan Dask.P. Johny Asst. Cit, Manappuram House Circle – 2(1) Hospital Road, Chalakkudy Aayakar Bhavan Vs. Thrissur 680307 Sakthan Thampuran Nagar [Pan:Acgpj4958G] Thrissur 680001 (Appellant) (Respondent) Asst. Cit, K.P. Johny Circle – 2(1) Manappuram House Aayakar Bhavan Hospital Road, Chalakkudy Vs. Sakthan Thampuran Nagar Thrissur 680307 Thrissur 680001 [Pan: Acgpj4958G] (Appellant) (Respondent)

For Appellant: Shri T.M. Sreedharan, Sr. Advocate (with Smt. Divya Ravindran, Adv. with him)For Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 131(1)Section 133ASection 147Section 148(1)Section 69

depreciable asset, it’s WDV. When it is therefore stated therein that VHPL would thus become the absolute owner of it’s assets, the same is to be understood as stated in a loose manner; the acquisition of the entire share-holding in Manko, a private company, giving it complete control over and a de facto ownership it’s business

THE DCIT, CIRCLE-2(1), THRISSUR vs. SRI.K.P. JOHNY, THRISSUR

In the result, both the assessee’s and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

ITA 254/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Oct 2023AY 2014-15

Bench: Shri Sanjay Arora & Shri Manomohan Dask.P. Johny Asst. Cit, Manappuram House Circle – 2(1) Hospital Road, Chalakkudy Aayakar Bhavan Vs. Thrissur 680307 Sakthan Thampuran Nagar [Pan:Acgpj4958G] Thrissur 680001 (Appellant) (Respondent) Asst. Cit, K.P. Johny Circle – 2(1) Manappuram House Aayakar Bhavan Hospital Road, Chalakkudy Vs. Sakthan Thampuran Nagar Thrissur 680307 Thrissur 680001 [Pan: Acgpj4958G] (Appellant) (Respondent)

For Appellant: Shri T.M. Sreedharan, Sr. Advocate (with Smt. Divya Ravindran, Adv. with him)For Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 131(1)Section 133ASection 147Section 148(1)Section 69

depreciable asset, it’s WDV. When it is therefore stated therein that VHPL would thus become the absolute owner of it’s assets, the same is to be understood as stated in a loose manner; the acquisition of the entire share-holding in Manko, a private company, giving it complete control over and a de facto ownership it’s business

JUBILEE MISSION HOSPITAL,THRISSUR vs. THE DCIT, THRISSUR

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

ITA 88/COCH/2022[2008-09]Status: DisposedITAT Cochin14 Sept 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri Surendranath Rao, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 147Section 148

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

ITA 89/COCH/2022[2009-10]Status: DisposedITAT Cochin14 Sept 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri Surendranath Rao, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 147Section 148

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

ITA 91/COCH/2022[2013-14]Status: DisposedITAT Cochin14 Sept 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri Surendranath Rao, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 147Section 148

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

ITA 90/COCH/2022[2010-11]Status: DisposedITAT Cochin14 Sept 2022AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri Surendranath Rao, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 147Section 148

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

A K SANTHOSH,KOCHI vs. DCIT, CORPORATE CIRCLE-1(1), KOCHI, KOCHI

In the result, both the appeals of the assessee are partly allowed

ITA 173/COCH/2023[2013-14]Status: DisposedITAT Cochin18 Nov 2024AY 2013-14

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Sreenivasan, CAFor Respondent: Smt. V. Swarnalatha, Sr. DR
Section 24Section 40Section 57

depreciation on car/vehicles to 15% as against 30% claimed. Therefore, this ground of appeal of the assessee is dismissed. A.K. Santhosh A.Y. 2013-14 & 2015-16 9. Regarding 3rd ground of appeal of the assessee on the issue of treatment of lease rent received as income from house property instead of income from other sources. We find that assesse

A K SANTHOSH,KOCHI vs. DCIT, CORPORATE CIRCLE-1(1), KOCHI, KOCHI

In the result, both the appeals of the assessee are partly allowed

ITA 174/COCH/2023[2015-16]Status: DisposedITAT Cochin18 Nov 2024AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Sreenivasan, CAFor Respondent: Smt. V. Swarnalatha, Sr. DR
Section 24Section 40Section 57

depreciation on car/vehicles to 15% as against 30% claimed. Therefore, this ground of appeal of the assessee is dismissed. A.K. Santhosh A.Y. 2013-14 & 2015-16 9. Regarding 3rd ground of appeal of the assessee on the issue of treatment of lease rent received as income from house property instead of income from other sources. We find that assesse

ACIT, ERNAKULAM vs. APPOLO TYRES LTD, COCHIN

In the result, the Revenue’s appeals as well as the Assessee’s COs, are allowed

ITA 139/COCH/2020[2009-10]Status: DisposedITAT Cochin30 Nov 2023AY 2009-10

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Sh. Sanjit K. Das, CIT-DR and Smt
Section 147

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year); Page 3 ITANos. 139 & 140/Coch/ 2020 (AYs 2009-10 & 2011-12) CO Nos. 02 & 03/Coch/2020 Asst. CIT vs. Apollo Tyres Ltd. Provided that where an assessment under

ACIT, ERNAKULAM vs. APPOLO TYRES LTD, COCHIN

In the result, the Revenue’s appeals as well as the Assessee’s COs, are allowed

ITA 140/COCH/2020[2011-12]Status: DisposedITAT Cochin30 Nov 2023AY 2011-12

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Sh. Sanjit K. Das, CIT-DR and Smt
Section 147

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year); Page 3 ITANos. 139 & 140/Coch/ 2020 (AYs 2009-10 & 2011-12) CO Nos. 02 & 03/Coch/2020 Asst. CIT vs. Apollo Tyres Ltd. Provided that where an assessment under

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

ITA 624/COCH/2022[2005-2006]Status: DisposedITAT Cochin31 Aug 2023AY 2005-2006

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Muhammad Shafeeq A., CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 40Section 40A(2)(b)

56% of the expenditure debited to P&L account after depreciation, royalty etc. This expenditure is excessive in view of its proportion to the total expenditure debited. Therefore, 25% of Rs. 25,05,586/- ie. Rs. 6,26,396/-is disallowed u/s.40A(2)(a), treating it as excessive within the meaning of section

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

ITA 623/COCH/2022[2004-2005]Status: DisposedITAT Cochin31 Aug 2023AY 2004-2005

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Muhammad Shafeeq A., CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 40Section 40A(2)(b)

56% of the expenditure debited to P&L account after depreciation, royalty etc. This expenditure is excessive in view of its proportion to the total expenditure debited. Therefore, 25% of Rs. 25,05,586/- ie. Rs. 6,26,396/-is disallowed u/s.40A(2)(a), treating it as excessive within the meaning of section

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

ITA 937/COCH/2022[2015-16]Status: DisposedITAT Cochin31 Aug 2023AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Muhammad Shafeeq A., CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 40Section 40A(2)(b)

56% of the expenditure debited to P&L account after depreciation, royalty etc. This expenditure is excessive in view of its proportion to the total expenditure debited. Therefore, 25% of Rs. 25,05,586/- ie. Rs. 6,26,396/-is disallowed u/s.40A(2)(a), treating it as excessive within the meaning of section

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

ITA 625/COCH/2022[2006-2007]Status: DisposedITAT Cochin31 Aug 2023AY 2006-2007

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Muhammad Shafeeq A., CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 40Section 40A(2)(b)

56% of the expenditure debited to P&L account after depreciation, royalty etc. This expenditure is excessive in view of its proportion to the total expenditure debited. Therefore, 25% of Rs. 25,05,586/- ie. Rs. 6,26,396/-is disallowed u/s.40A(2)(a), treating it as excessive within the meaning of section

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

ITA 627/COCH/2022[2009-2010]Status: DisposedITAT Cochin31 Aug 2023AY 2009-2010

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Muhammad Shafeeq A., CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 40Section 40A(2)(b)

56% of the expenditure debited to P&L account after depreciation, royalty etc. This expenditure is excessive in view of its proportion to the total expenditure debited. Therefore, 25% of Rs. 25,05,586/- ie. Rs. 6,26,396/-is disallowed u/s.40A(2)(a), treating it as excessive within the meaning of section

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

ITA 626/COCH/2022[2007-2008]Status: DisposedITAT Cochin31 Aug 2023AY 2007-2008

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Muhammad Shafeeq A., CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 40Section 40A(2)(b)

56% of the expenditure debited to P&L account after depreciation, royalty etc. This expenditure is excessive in view of its proportion to the total expenditure debited. Therefore, 25% of Rs. 25,05,586/- ie. Rs. 6,26,396/-is disallowed u/s.40A(2)(a), treating it as excessive within the meaning of section

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

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

ITA 744/COCH/2019[2015-16]Status: DisposedITAT Cochin14 Sept 2022AY 2015-16

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

For Appellant: Shri Shaji Sreejith, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 143(3)Section 145(1)Section 263Section 5(1)Section 80GSection 80G(4)

56(2)(viib)). vi) Delayed payment of tax and return filed late. vii) Large- other expenses claimed in the Profit & Loss a/c. viii). Depreciation claimed at higher rates/higher additional depreciation claimed. viii) New foreign asset in the nature of financial interest in any entity. ix) Low income shown by large contractors. x) Receipt of large value foreign remittance (Froml5CA

CHENGAZHASSERIL THOMAS KURIAN,KOTTAYAM vs. ACIT CENTRAL CIRCLE KOTTAYAM, KOTTAYAM

In the result, the appeals by the assessees are partly allowed and partly allowed for statistical purposes

ITA 474/COCH/2022[2014-2015]Status: DisposedITAT Cochin29 Sept 2023AY 2014-2015

Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 132Section 132(4)Section 139(4)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 64

56(1) of the Act. The ld. CIT(A), in appeal, directed the reduction of the said amount from the relevant block/s of assets where depreciation has been claimed thereon. It is this condition that is the cause of the assessee’s grievance. The ld. CIT(A) has, as apparent, agreed with the assessee in principle, i.e., of it being