KERALA STATE CO-OPERATIVE BANK LTD,THIRUVANANTHAPURAM vs. DCIT,CIRCLE-1(1), THIRUVANANHAPURAM

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2018-19

disallowance of an amount shall form the basis for imposition of penalty, if such addition or disallowance has formed the basis

AISWARYA GRANITES,KOLLAM vs. ITO WARD 1 & TPS, KOLLAM, KOLLAM

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

Bench: Smt. Beena Pillai & Smt. Padmavathy S.Assessment Year: 2018-19 M/S. Aiswarya Granites, Egpvii/70, The Assistant Arkannor, Commissioner Of Elavummoodu, Vs. Income Tax, Kollam 691 533. National E- Assessment Centre, Pan No : Aapfa5874K Delhi. Appellant Respondent Appellant By : Shri G. Surendranath Rao, A.R. Respondent By : Smt. J.M. Jamuna Devi, Sr. Dr Date Of Hearing : 11.01.2023 Date Of Pronouncement : 30.03.2023 O R D E R Per Beena Pillai: The Preset Appeal Is Filed By The Assessee Against Order Dated 25.3.2022 Passed By Nfac Delhi For Assessment Year 2018-19 On Following Grounds: 1. The Order Of The Commissioner (Appeals) Of National Faceless Appeal Centre (Nfac) Is Against-Facts & Law. 2. The Commissioner Of Income Tax (Appeals), Nfac, Is Not Justified In Disallowing The Payment Of Commercial Tax. The Commissioner (Appeals) Should Have Appreciated That The Amount Paid Was A Statutory Levy Payable By All Crushers Installed In Stone Quarries Based On Their Installed Capacity. The Levy Was To Be Remitted On Quarterly Basis. The Commissioner (Appeals) Nfac Has Erred In Concluding That The Amount Paid Is In The Nature Of A Compounding Fee For Any Offence Or Towards Aiswarya Granites, Kollam

penalty. Thus the disallowance is wholly unwarranted. 3. The Commissioner (Appeals), NFAC, is not justified in confirming the disallowance of Rs.50

V GUARD INDUSTRIES LIMITED,VENNALA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOCHI

In the result, the assessee’s appeal is partly allowed

Bench: Shri Sanjay Arora & Shri Sandeep Gosainv-Guard Industries Ltd. Principal Cit-1, 42/962, Vennala High School C R Building, I S Press Road, Vs. Road, Vennala, Kochi 682018 Ernakulam 682028 [Pan: Aaacv5492Q] (Appellant) (Respondent) Appellant By: Shri Anil D. Nair, Advocate Respondent By: Shri Prashant V.K., Cit-Dr Date Of Hearing: 01.02.2023 Date Of Pronouncement: 20.03.2023 O R D E R Per: Bench This Is An Appeal By The Assessee Challenging The Revision Of It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) Dated 28/12/2018 For Assessment Year (Ay) 2016-17 By The Principal Commissioner Of Income Tax-1, Kochi (‘Pr. Cit’ For Short) Vide Order U/S. 263 Dated 22/03/2021. 2. The Appeal, Filed On 08/03/2022, Though Delayed By 256 Days, Was Admitted In View Of The Blanket Condonation By The Apex Court In Suo Motu Wp(C) No.3/2020, Dated 10/01/2022, Excluding The Period From 15/3/2020 To 28/02/2022 In Reckoning The Delay In Computing Limitation Under Law & The Hearing Accordingly Proceeded With. The Assessee Is A Company Manufacturing Electrical Cables, Pumps, Solar Water Heaters, Etc. & Trading In Electrical & Electronic Goods. Revision Of It’S Impugned Assessment Is On Several Issues On Which The Revisionary Authority Found An Absence Or Lack Of Enquiry By The Assessing Officer

disallow Rs.12.77 lakhs and (vi) penalties, fines for late payment of taxes disallowed Rs.43,189 have been made. However, applicability

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s claim of business expenditure amounting to Rs.5,00,75,900/- representing penalty paid to Reserve Bank

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s claim of business expenditure amounting to Rs.5,00,75,900/- representing penalty paid to Reserve Bank

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s claim of business expenditure amounting to Rs.5,00,75,900/- representing penalty paid to Reserve Bank

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s claim of business expenditure amounting to Rs.5,00,75,900/- representing penalty paid to Reserve Bank

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s claim of business expenditure amounting to Rs.5,00,75,900/- representing penalty paid to Reserve Bank

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s claim of business expenditure amounting to Rs.5,00,75,900/- representing penalty paid to Reserve Bank

CGR HALLMARKERS PRIVATE LIMITED,ERNAKULAM vs. ASSESING OFFICER,(ITO), COCHIN

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

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2017-18 Cgr Hallmarkers Pvt. Ltd. .......... Appellant Building No. 62/1906, A, Sadanam Road Extn., M.G. Road S.O., Kochi 682016 [Pan: Aaccc4855G] Vs. Dcit, Corporte Circle 1(1), Kochi .......... Respondent Assessee By: ------- None ------- Revenue By: Ms. Neethu S. Sr. Dr Date Of Hearing: 27.11.2025 Date Of Pronouncement: 28.11.2025 O R D E R This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] For Assessment Year (Ay) 2017-18. 2. Brief Facts Of The Case Are That The Appellant Is A Company Incorporated Under The Provisions Of Companies Act, 1956 Engaged In The Business Of Refining Precious Metals & Minting Of Coins & Bars. The Return Of Income For Ay 2017-18 Was Filed On 30.10.2017 Disclosing Income Of Rs. 46,28,269/-. Against The Said Return Of Income, The Assessment Was Completed By The Dcit, Corporate Circle 1(1), Kochi (Hereinafter Called "The Ao") Vide Order Dated

Disallowance of penalty Rs. 3,58,318/- vi. Disallowance of cash deposits Rs. 1,99,800/- 3. Being aggrieved, an appeal

PADMAKUMAR K P,ALAPPUZHA vs. ITO, WARD-2, ALAPPUZHA

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

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

penalty by stating that the additions / disallowances have been made on estimation and on an adhoc basis, hence, penalty cannot

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower

SMT.JAMMELA S,KOLLAM vs. THE DCIT, KOLLAM

In the result, appeal of the assessee is allowed

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

penalty in the quantum of 2 I.T.A. No.463 /Coch/2019 income concealed/for which inaccurate particulars were given. The assessee vide reply dated 24.02.2012 stated that the addition and disallowances