ACIT CORPORATE CIRCLE -1 (1), KOCHI vs. M/S GEOFIN COMTRADE LTD, KOCHI

In the result, the Revenue’s appeals are allowed

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmi

145’ (at paras 35 to 40 of the decision). Referring to decisions in Poona Electric Company Supply Ltd. v. CIT [1965] 57 ITR 521, 530 (SC) and CWT v. Bombay Suburban Electric Supply Ltd. [1976] 103 ITR 384, 391 (Bom), holding so, the Hon'ble Apex Court further holds as under: [“38. The point to be noted is that

ACIT, KOCHI vs. M/S.GEOFIN COMTRADE LTD, KOCHI

In the result, the Revenue’s appeals are allowed

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmi

145’ (at paras 35 to 40 of the decision). Referring to decisions in Poona Electric Company Supply Ltd. v. CIT [1965] 57 ITR 521, 530 (SC) and CWT v. Bombay Suburban Electric Supply Ltd. [1976] 103 ITR 384, 391 (Bom), holding so, the Hon'ble Apex Court further holds as under: [“38. The point to be noted is that

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case

THEDCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case

THE ACIT, KOCHI vs. M/S.KUNNEL ENGINEERS & CONTRACTORS P. LTD, KOCHI

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

disallowed u/s. 43B of the Act. We observe that the assessee has recorded his turnover after deducting the service tax received and the service tax has been credited separately. In section 145, of the Act for determining the income chargeable under the head profits and gains of business or profession or income from other sources, the same

GATEWAY DISTRIPARKS(KERALA) LTD,COCHIN vs. ACIT, COCHIN

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

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.216/Coch/2018 Assessment Year : 2013-14 Gateway Distriparks (Kerala) Vs. The Assistant Commissioner Of Ltd., Door No. 26/1804, Income-Tax, Circle-1(2), Kochi Chakiat House, Subramaniam Road, Willington Island, Kochi-682 003. [Pan:Aaccg 6616P] (Assessee-Appellant) (Revenue-Respondent) Assessee By Shri P.M. Veeramani, Ca Revenue By Smt. A.S. Bindhu, Dr Date Of Hearing 14/08/2018 Date Of Pronouncement 28/08/2018

disallowed'. 3.2 Accordingly, a show-cause notice under Section 263 dated 02.03.2018 was issued by CIT to the Assessee proposing for revision of assessment under Section 263 of the Income Tax Act. 3.3 In response, the authorized representative of the assessee filed a letter on 13.3.2018 before CIT wherein it was inter-alia stated that 'when the AO has allowed

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

In the result, the appeal of the Revenue in I

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

disallow sums mentioned in section 194A(3)(viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

disallow sums mentioned in section 194A(3)(viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

disallow sums mentioned in section 194A(3)(viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called

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

In the result, the appeal of the Revenue in I

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

disallow sums mentioned in section 194A(3)(viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called

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

In the result, the appeal of the Revenue in I

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

disallow sums mentioned in section 194A(3)(viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called

JUBILEE MISSION HOSPITAL.,THRISSUR vs. THE DCIT, KOCHI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

145 CTR 176(SC): The Hon’ble Supreme Court held that (at page 180): “a mere look at section11 (1) and 11(2) is sufficient to dispel this argument. U/s 11(1) every charitable or religious trust, irrespective of whether it has filed a declaration u/s 11(2) or not, is entitled to deduction of certain income from its total

JUBILEE MISSION HOSPITAL,THRISSUR vs. THE DCIT, KOCHI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

145 CTR 176(SC): The Hon’ble Supreme Court held that (at page 180): “a mere look at section11 (1) and 11(2) is sufficient to dispel this argument. U/s 11(1) every charitable or religious trust, irrespective of whether it has filed a declaration u/s 11(2) or not, is entitled to deduction of certain income from its total

JUBILEE MISSION HOSPITAL ,KAKKANAD vs. THE DCIT, KOCHI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

145 CTR 176(SC): The Hon’ble Supreme Court held that (at page 180): “a mere look at section11 (1) and 11(2) is sufficient to dispel this argument. U/s 11(1) every charitable or religious trust, irrespective of whether it has filed a declaration u/s 11(2) or not, is entitled to deduction of certain income from its total

JUBILEE MISSION HOSPITAL,THRISSUR vs. THE DCIT, THRISSUR

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

145 CTR 176(SC): The Hon’ble Supreme Court held that (at page 180): “a mere look at section11 (1) and 11(2) is sufficient to dispel this argument. U/s 11(1) every charitable or religious trust, irrespective of whether it has filed a declaration u/s 11(2) or not, is entitled to deduction of certain income from its total

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

145(1) is attracted to the facts of the present case. Under the mercantile system of accounting, what is due is brought into credit before it is actually received; it brings into debit an expenditure for which a legal liability has been incurred before it is actually disbursed, (judgment of this Court in the case of United Commercial Bank

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

145(1) is attracted to the facts of the present case. Under the mercantile system of accounting, what is due is brought into credit before it is actually received; it brings into debit an expenditure for which a legal liability has been incurred before it is actually disbursed, (judgment of this Court in the case of United Commercial Bank