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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance claim qua its golf course under the head “plant and machinery”. Learned A.R. not only drew strong support from the CIT(A)’s detailed discussion but also produced this tribunal’s coordinate bench’s order in Landbase India Ltd. vs. ACIT [2020] 185 ITD 40 (Delhi) (Tribu.). Mr. Gopi takes as to para 6 therein that

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance claim qua its golf course under the head “plant and machinery”. Learned A.R. not only drew strong support from the CIT(A)’s detailed discussion but also produced this tribunal’s coordinate bench’s order in Landbase India Ltd. vs. ACIT [2020] 185 ITD 40 (Delhi) (Tribu.). Mr. Gopi takes as to para 6 therein that

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance claim qua its golf course under the head “plant and machinery”. Learned A.R. not only drew strong support from the CIT(A)’s detailed discussion but also produced this tribunal’s coordinate bench’s order in Landbase India Ltd. vs. ACIT [2020] 185 ITD 40 (Delhi) (Tribu.). Mr. Gopi takes as to para 6 therein that

ACIT, COCHIN vs. SRI.P.C.JOSE, COCHIN

In the result, appeal filed by the assessee stands allowed and Revenue’s appeal stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Keshav Dubey, Jm Assessment Year: 2008-09 P.C. Jose .......... Appellant Brothers Agencies, Jews Street Ernakulam 682031 [Pan: Abbpj8250F] Vs. Dy. Commissioner Of Income Tax .......... Respondent Circle - 2(1), Kochi Assessment Year: 2008-09 Dy. Commissioner Of Income Tax .......... Appellant Circle - 2(1), Kochi Vs. P.C. Jose .......... Respondent Brothers Agencies, Jews Street Ernakulam 682031 [Pan: Abbpj8250F] Assessee By: Shri R. Krishnan, Ca Revenue By: Shri Sanjit Kumar Das & Smt. Leena Lal, Sr. D.R. Date Of Hearing: 20.02.2025 Date Of Pronouncement: 18.03.2025 P.C. Jose

section 2(14)(iii) of the Act. However, the AO was of the opinion that it is a capital asset by citing the following reasons: - P.C. Jose I. The land sold was situated in a highly developed residential area. The mere fact that vegetable and crops were available at the time of sale cannot make the property exempt

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

14. Next comes the issue of RBI penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower authorities u/s.37 Explanation. Case law M/s.Dhanalakshmi Bank (2005) 277 ITR (ST) 3 holds that such a penalty imposed by the RBI in regular banking business activities does not attract the impugned disallowance u/s.37

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

14. Next comes the issue of RBI penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower authorities u/s.37 Explanation. Case law M/s.Dhanalakshmi Bank (2005) 277 ITR (ST) 3 holds that such a penalty imposed by the RBI in regular banking business activities does not attract the impugned disallowance u/s.37

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

14. Next comes the issue of RBI penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower authorities u/s.37 Explanation. Case law M/s.Dhanalakshmi Bank (2005) 277 ITR (ST) 3 holds that such a penalty imposed by the RBI in regular banking business activities does not attract the impugned disallowance u/s.37

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

14. Next comes the issue of RBI penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower authorities u/s.37 Explanation. Case law M/s.Dhanalakshmi Bank (2005) 277 ITR (ST) 3 holds that such a penalty imposed by the RBI in regular banking business activities does not attract the impugned disallowance u/s.37

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

14. Next comes the issue of RBI penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower authorities u/s.37 Explanation. Case law M/s.Dhanalakshmi Bank (2005) 277 ITR (ST) 3 holds that such a penalty imposed by the RBI in regular banking business activities does not attract the impugned disallowance u/s.37

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

14. Next comes the issue of RBI penalty imposed for non- compliance of regulatory instructions amounting to Rs.3 crore, which has been disallowed by both the lower authorities u/s.37 Explanation. Case law M/s.Dhanalakshmi Bank (2005) 277 ITR (ST) 3 holds that such a penalty imposed by the RBI in regular banking business activities does not attract the impugned disallowance u/s.37

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

14 M/s.US Technology Resources Pvt.Ltd. 2013-14.This is also clarified in the explanatory memorandum to Finance bill, 2012. 5.7 The A.O. further observed that since no TDS has been made by USTRPL from the 'subcontracting charges’, they will be hit by the disallowance under section

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

14 M/s.US Technology Resources Pvt.Ltd. 2013-14.This is also clarified in the explanatory memorandum to Finance bill, 2012. 5.7 The A.O. further observed that since no TDS has been made by USTRPL from the 'subcontracting charges’, they will be hit by the disallowance under section

DCIT, THIRUVALLA vs. MUTHOOT PROPERTIES & INVESTMENTS,, KOZHENCHERRY

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

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

14, items A to E. (2) In particular, and without prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to income-tax under the head "Income from other sources", namely :- (i) dividends; (ia) income referred to in sub-clause (viii) of clause (24) of section 2; I.T.A. Nos. 69-72/Coch/2018

THE ACIT, THIRUVALLA vs. M/S.MUTHOOT PROPERTIES & INVESTMENTS, KOZHENCHERRY

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

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

14, items A to E. (2) In particular, and without prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to income-tax under the head "Income from other sources", namely :- (i) dividends; (ia) income referred to in sub-clause (viii) of clause (24) of section 2; I.T.A. Nos. 69-72/Coch/2018

THE ACIT, THIRUVALLA vs. M/S.MUTHOOT PROPERTIES & INVESTMENTS, KOZHENCHERRY

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

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

14, items A to E. (2) In particular, and without prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to income-tax under the head "Income from other sources", namely :- (i) dividends; (ia) income referred to in sub-clause (viii) of clause (24) of section 2; I.T.A. Nos. 69-72/Coch/2018

DCIT, THIRUVALLA vs. MAR GREGORIOUS MEMORIAL MUTHOOT MEDICAL CENTRE, KOZHENCHERRY

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

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

14, items A to E. (2) In particular, and without prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to income-tax under the head "Income from other sources", namely :- (i) dividends; (ia) income referred to in sub-clause (viii) of clause (24) of section 2; I.T.A. Nos. 69-72/Coch/2018

DCIT, THIRUVALLA vs. MAR GREGORIOUS MEMORIAL MUTHOOT MEDICAL CENTRE, KOZHENCHERRY

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

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

14, items A to E. (2) In particular, and without prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to income-tax under the head "Income from other sources", namely :- (i) dividends; (ia) income referred to in sub-clause (viii) of clause (24) of section 2; I.T.A. Nos. 69-72/Coch/2018

DCIT, THIRUVALLA vs. MAR GREGORIOUS MEMORIAL MUTHOOT MEDICAL CENTRE, KOZHENCHERRY

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

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

14, items A to E. (2) In particular, and without prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to income-tax under the head "Income from other sources", namely :- (i) dividends; (ia) income referred to in sub-clause (viii) of clause (24) of section 2; I.T.A. Nos. 69-72/Coch/2018