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

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)

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

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)

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

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE ACIT, TRIVANDRUM

In the result, the appeal for assessment year 2011-2012

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

56,5l0. Ground No.9 - Consequential levy of interest under section 2340 and 244A of the Act. 9.1 On the facts and circumstances of the case, the learned DCIT has erred in levying interest under section 234D of the Act at Rs 57,06,057 and recovering interest of Rs.40,75,752 under section 244A of the Act. Ground No.10 - Relief

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE DCIT, TRIVANDRUM

In the result, the appeal for assessment year 2011-2012

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

56,5l0. Ground No.9 - Consequential levy of interest under section 2340 and 244A of the Act. 9.1 On the facts and circumstances of the case, the learned DCIT has erred in levying interest under section 234D of the Act at Rs 57,06,057 and recovering interest of Rs.40,75,752 under section 244A of the Act. Ground No.10 - Relief

THE ACIT, COCHIN vs. M/S.PTL ENTERPRISES LTD, COCHIN

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

section 56(2)(ii) in its spirit and substance and held the impugned lease rent as chargeable to tax under the head "Income from Other Sources" as laid down u/s.56(1)(U) of the Act. 6. It is prayed that the orders of the learned Commissioner of Income Tax (Appeals) be reversed and that of the Assessing Officer restored

THE ACIT, COCHIN vs. M/S.PTL ENTERPRISES LTD, COCHIN

In the result, the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

section 56(2)(ii) in its spirit and substance and held the impugned lease rent as chargeable to tax under the head "Income from Other Sources" as laid down u/s.56(1)(U) of the Act. 6. The case laws relied upon by the CIT(Appeals) are distinguishable on facts, since a particulars case has to be viewed

THE ACIT, COCHIN vs. M/S.PTL ENTERPRISES LTD, COCHIN

In the result, the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

section 56(2)(ii) in its spirit and substance and held the impugned lease rent as chargeable to tax under the head "Income from Other Sources" as laid down u/s.56(1)(U) of the Act. 6. The case laws relied upon by the CIT(Appeals) are distinguishable on facts, since a particulars case has to be viewed

THE ACIT, COCHIN vs. M/S.PTL ENTERPRISES LTD, COCHIN

In the result, the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

section 56(2)(ii) in its spirit and substance and held the impugned lease rent as chargeable to tax under the head "Income from Other Sources" as laid down u/s.56(1)(U) of the Act. 6. The case laws relied upon by the CIT(Appeals) are distinguishable on facts, since a particulars case has to be viewed

SMT.K.B.SONY,COCHIN vs. THE DCIT, COCHIN

In the result, i) The appeal of the assessee in ITA No

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

56,853/-, which included depreciation on Motor Car at Rs.3,18,064.50. Again A.O disallowed excess depreciation of Rs.2,22,644/- which was included in Rs.3,18,064.50. Hence, addition of Rs. 2,22,644/- may be deleted. I.T.A. Nos. 383 -386, 322-324, 319-321 &, 387-390/C/2015 24.4 The Ld AR submitted that in exercise of the powers

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

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

APTIV CONNECTION SYSTEMS INDIA PRIVATE LIMITED,KOCHI, KERALA vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE 1(1), KOCHI, ERNAKULAM, KERALA

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation of Rs.17,73,077/- has been claimed on assets put to use during the period relevant to A.Υ. 2008-09. 4. The assessee has not disallowed any expenses against the dividend income received of Rs.17,33,532/-. Aptiv Connection Systems India P. Ltd. 5. "Lease principal repayment" of Rs.22,95,833/- has been claimed as deduction

APTIV CONNECTION SYSTEMS INDIA PRIVATE LIMITED,KOCHI, KERALA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), KOCHI, KERALA

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation of Rs.17,73,077/- has been claimed on assets put to use during the period relevant to A.Υ. 2008-09. 4. The assessee has not disallowed any expenses against the dividend income received of Rs.17,33,532/-. Aptiv Connection Systems India P. Ltd. 5. "Lease principal repayment" of Rs.22,95,833/- has been claimed as deduction

APTIV CONNECTION SYSTEMS INDIA PRIVATE LIMITED,KOCHI, KERALA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE 1(1), ERNAKULAM, KERALA

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

depreciation of Rs.17,73,077/- has been claimed on assets put to use during the period relevant to A.Υ. 2008-09. 4. The assessee has not disallowed any expenses against the dividend income received of Rs.17,33,532/-. Aptiv Connection Systems India P. Ltd. 5. "Lease principal repayment" of Rs.22,95,833/- has been claimed as deduction

THE ACIT, COCHIN vs. M/S.SUD CHEMIE INDIA P. LTD, ALUVA

In the result, the appeals of the Revenue are partly allowed for statistical

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

56,553/- and Rs.1,38,53, 153/- for the assessment years 2009-10 & 2010- 11 respectively. The Assessing Officer considered the expenditure as capital expenditure and only allowed depreciation on it. 8. The assessee carried the matter in appeal before the CIT(A). The CIT(A) observed that it is repair and maintenance which is revenue expenditure

THE ACIT, COCHIN vs. M/S.SUD CHEMIE INDIA P. LTD, COCHIN

In the result, the appeals of the Revenue are partly allowed for statistical

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

56,553/- and Rs.1,38,53, 153/- for the assessment years 2009-10 & 2010- 11 respectively. The Assessing Officer considered the expenditure as capital expenditure and only allowed depreciation on it. 8. The assessee carried the matter in appeal before the CIT(A). The CIT(A) observed that it is repair and maintenance which is revenue expenditure