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

short term capital loss or the gains on sale of depreciable assets, sale of an asset when the asset is sold

KUMAR MADHAVANPILLAI.S,THIRUVANANTHAPURAM vs. ITO, WARD-1(4), TRIVANDRUM

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Kumar Madhavanpillai S. Income Tax Officer -1(4) Chandra Press & Book Depot Aayakar Bhavan, Kowdiar P.O. Manjalikulam Road Thiruvananthapuram 695003 Vs. Thampanoor Thiruvananthapuram 695001 [Pan: Ajxps9299P] (Appellant) (Respondent)

capital gain. 15. The next controversy arises whether the gain arising on the sale of depreciable assessed is eligible for exemption under section 54/54F of the Act. It is a fact on record that the depreciable assets are subject to short-term

ACEELERATED FREEZE DRYING CO.LTD,ALAPPUZHA vs. DCIT, ALAPPUZHA

In the result, the appeal of the Revenue is allowed and the appeal of the

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

depreciable assets. On the other hand under Section 50B the asset has to be first classified between long term or short term capital asset and then for the purpose of Sections 48 and 49 net worth has to be computed in terms of explanation 1 of the said Section. The capital gain

DCIT, ALAPPUZHA vs. M/S ACEELERATED FREEZE DRYING CO, LTD, ALAPPUZHA

In the result, the appeal of the Revenue is allowed and the appeal of the

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

depreciable assets. On the other hand under Section 50B the asset has to be first classified between long term or short term capital asset and then for the purpose of Sections 48 and 49 net worth has to be computed in terms of explanation 1 of the said Section. The capital gain

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)

short receipt, i.e., vis-à-vis the stated consideration of rs. 675 lacs, even on facts. The Agreement clearly provides that the entire payment arising there-under is to be, and indeed is being paid, to the party of the first part, the sellers, defined to include their assigns, nominees, etc., i.e., to it’s account. What has admittedly been

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)

short receipt, i.e., vis-à-vis the stated consideration of rs. 675 lacs, even on facts. The Agreement clearly provides that the entire payment arising there-under is to be, and indeed is being paid, to the party of the first part, the sellers, defined to include their assigns, nominees, etc., i.e., to it’s account. What has admittedly been

M/S.AMALGAM FOODS LTD,KOCHI vs. THE DCIT, CIR-1, ALLEPPEY, ALLEPPEY

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

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

short term capital gains. According to the Assessing Officer, as per 2(42C) and explanation to clause 19AA of the said section, the transfer will be regarded as a slump sale and gain can be treated as long term capital gain. 5. On appeal, the CIT(A) observed that judgment of the Supreme Court in the case of Equinox Solutions

SMT.GRACY BABU,ADOOR P.O. vs. THE DCIT CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

THE ACIT, CEN-CIRCLE, KOTTAYAM vs. SRI.JOSE THOMAS, ADOOR

In the result, the appeals of the assesses in ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

SRI.JOSE THOMAS,ADOOR vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

THE ACIT CEN-CIRCLE, KOTTAYAM vs. SMT.GRACY BABU, ADOOR P.O.

In the result, the appeals of the assesses in ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

SRI.JOSE THOMAS,ADOOR P.O., PATHANAMTHITTA vs. THE ACIT,CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

SRI.JOSE THOMAS,ADOOR vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

SRI.JOSE THOMAS,ADOOR vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

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

short, it was noticed that a separate account of the fund collected from students was maintained by the assessee and the co-trustees. According to the Assessing Officer, the claim of the assessee that it did not receive donations from students in his individual capacity was contrary to his own statements given consequent to the search. The other trustees, SmtGracyBabu