THE CHORODE SERVICE CO-OPERATIVE BANK LTD, LL139,CHORODE vs. ITO, WARD-2(2), KOZHIKODE

In the result, appeal of the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowing the claim made by the assessee U/s. 80P(2)(a)(i) of the Act. We have perused the ratio laid down by the Hon'ble Apex Court in the case of M/s.Totgars Cooperative Sale Society Ltd (supra) and found that in that case the society is engaged in marketing of the agricultural produce by its members as per section

THE KUNDARA PANCHAYATH SERVICE COOPERATIVE BANK LTD,KOLLAM vs. INCOME TAX OFFICER, WARD-4, KOLLAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

2. The Commissioner (Appeals) is not justified in treating the interest received from cooperative banks as income from other sources and disallowing the claim u/s 8OP. The Commissioner (Appeals) should have appreciated that the appellant is a PrimaryAgricultural CreditSociety engaged in the business ofaccepting deposits from members and providing loans to members. The Commissioner (Appeals) was bound by the decision

THE KUNDARA PANCHAYATH SERVICE COOPERATIVE BANK LTD,KOLLAM vs. INCOME TAX OFFICER, WARD 4, KOLLAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

2. The Commissioner (Appeals) is not justified in treating the interest received from cooperative banks as income from other sources and disallowing the claim u/s 8OP. The Commissioner (Appeals) should have appreciated that the appellant is a PrimaryAgricultural CreditSociety engaged in the business ofaccepting deposits from members and providing loans to members. The Commissioner (Appeals) was bound by the decision

THE KUNDARA PANCHAYATH SERVICE COOPERATIVE BANK LTD,KOLLAM vs. INCOME TAX OFFICER, WARD 4, KOLLAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

2. The Commissioner (Appeals) is not justified in treating the interest received from cooperative banks as income from other sources and disallowing the claim u/s 8OP. The Commissioner (Appeals) should have appreciated that the appellant is a PrimaryAgricultural CreditSociety engaged in the business ofaccepting deposits from members and providing loans to members. The Commissioner (Appeals) was bound by the decision

AYUR GREEN AYURVEDA HOSPITALS PRIVATE LIMITED,MALAPPURAM vs. DCIT, CPC, BENGALURU, BENGALURU

In the result, the assessee’s appeal is dismissed

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmiayurgreen Ayurveda Hospsitals Vs Dcit, Private Limited Cpc, Door No. 1/301 Ayurgreen Bengaluru. Ayurveda Hospitals, Kaladi Mlp Edappal, Malappuram-679585. (Appellant) (Respondent) Pan No. Aaica 4294 M

Disallowance of deduction claimed under [section 10AA or under any of the provisions of Chapter VI-A under the heading “C.-Deductions in respect of certain income”, if] the return is furnished beyond the due date specified under sub- section (1) of section 139; or (vi) Addition of income appearing in Form 26AS or Form 16A or Form 16 which

M/S.SAHYADRI AGENCIES LTD,KANDNASSERY, THRISSUR vs. THE ITO, WD-1(3), THRISSUR

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

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

143(2), after generation from AST, is issued to the taxpayer with the remark "Selected under Computer Aided Scrutiny Selection (CASS)". The functionality in AST is being modified suitably to flag the reasons for scrutiny selection in cases. This functionality is expected to be operationalised by 15th October, 2014. Further, the Assessing Officer while issuing notice under section

THE ADIT ( EXEMPTION), KOCHI vs. M/S.INDIAN MEDICAL ASSOCIATION COCHIN BRANCH, COCHIN

In the result, both the appeals of the Revenue are dismissed

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

143(3) of the I.T. Act had noticed that the assessee’s income consisted of the following components: i) Annual Subscription Rs.2,23,470.00 ii) Donation – Directory Rs. 84,394.00 iii) Donation-Executive Committee Meeting Rs. 1,55,000.00 iv) Donation-Mailing List Rs. 6,250.00 v) Donation-President’s Seal Rs. 13,600.00 v) Life Membership Fee Rs.12

THE DIT ( EXEMPTION), KOCHI vs. M/S.INDIAN MEDICAL ASSOCIATION COCHIN BRANCH, COCHIN

In the result, both the appeals of the Revenue are dismissed

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

143(3) of the I.T. Act had noticed that the assessee’s income consisted of the following components: i) Annual Subscription Rs.2,23,470.00 ii) Donation – Directory Rs. 84,394.00 iii) Donation-Executive Committee Meeting Rs. 1,55,000.00 iv) Donation-Mailing List Rs. 6,250.00 v) Donation-President’s Seal Rs. 13,600.00 v) Life Membership Fee Rs.12

M/S.US TECHNOLOGY INTERNATIONAL P. LTD,TRIVANDRUM vs. THE JCIT, TRIVANDRUM

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

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

disallowance under section 36(1)(vii), (viia) and in respect of foreign exchange rate difference. On further appeal, Tribunal held that order of the Commissioner dated 28-3-2003 passed under section 263 setting aside the assessment order dated 26-3-2002 passed under section 143 read with section 147 by the Assessing Officer was barred by limitation under section

AROOR CO-OP URBAN SOCIETY LTD,KOZHIKKODE vs. ITO, KOZHIKKODE

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

Bench: Shrigeorge George K.And Shrilaxmi Prasad Sahuaroor Co-Operative Urbn Society Dcit, Central Prossing Centre Aroor P.O., Kakkattil 673507 Bangalore Vs.

2. The brief facts of the case are that the assessee filed the return of income on 14.02.2017 whereas the due date for filing of the return was 17.10.2016, declaring Nil income. The CPC processed the return under Section 143(1)(a) of the Income Tax Act, 1961 (hereinafter "the Act") assessing the total income at Rs.11

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ERNAKULAM

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

M/S KARAKULAM SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeals filed by the assessee are partly allowed for statistical

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

143(3) of the I.T. Act was completed on 27.12.2016 disallowing the claim under section 8OP of the Act on the income from business and also disallowing deduction under section 80P(2

M/S KARAKULAM SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeals filed by the assessee are partly allowed for statistical

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

143(3) of the I.T. Act was completed on 27.12.2016 disallowing the claim under section 8OP of the Act on the income from business and also disallowing deduction under section 80P(2

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 14A should be limited to only interest liability and not overheads or administrative expenditure; which should be considered for disallowance under rule 8D from 2007-08 onwards.” The conclusion of the Hon’ble Court was therefore that prior to 2007-08 no overhead or administrative expenditure could be disallowed and only interest expenditure could be disallowed. For AY after

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 14A should be limited to only interest liability and not overheads or administrative expenditure; which should be considered for disallowance under rule 8D from 2007-08 onwards.” The conclusion of the Hon’ble Court was therefore that prior to 2007-08 no overhead or administrative expenditure could be disallowed and only interest expenditure could be disallowed. For AY after