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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 144, Rule 8D of the Income-tax Rules provides for the mechanism to determine the quantum of such disallowance. (ii) In terms of the provisions of Rule 8D, the amount to be disallowed shall be the aggregate of (i) expenses directly incurred to earn exempt income, (ii) interest expense (not directly attributable to any exempt income) worked

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 144, Rule 8D of the Income-tax Rules provides for the mechanism to determine the quantum of such disallowance. (ii) In terms of the provisions of Rule 8D, the amount to be disallowed shall be the aggregate of (i) expenses directly incurred to earn exempt income, (ii) interest expense (not directly attributable to any exempt income) worked

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

27,15,858/-. Thus, a total amount of Rs. 45, 30,81, 080/- was arrived at; eligible for deduction. The provision created being Rs. 97, 03,05,677/-. There was a disallowance of Rs. 51,72,24,597/-, which was added back as income. 10. The specific contention raised by the learned Senior Counsel for the assessee Bank is that

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

27,15,858/-. Thus, a total amount of Rs. 45, 30,81, 080/- was arrived at; eligible for deduction. The provision created being Rs. 97, 03,05,677/-. There was a disallowance of Rs. 51,72,24,597/-, which was added back as income. 10. The specific contention raised by the learned Senior Counsel for the assessee Bank is that

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

27,15,858/-. Thus, a total amount of Rs. 45, 30,81, 080/- was arrived at; eligible for deduction. The provision created being Rs. 97, 03,05,677/-. There was a disallowance of Rs. 51,72,24,597/-, which was added back as income. 10. The specific contention raised by the learned Senior Counsel for the assessee Bank is that

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

27,15,858/-. Thus, a total amount of Rs. 45, 30,81, 080/- was arrived at; eligible for deduction. The provision created being Rs. 97, 03,05,677/-. There was a disallowance of Rs. 51,72,24,597/-, which was added back as income. 10. The specific contention raised by the learned Senior Counsel for the assessee Bank is that

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

27,15,858/-. Thus, a total amount of Rs. 45, 30,81, 080/- was arrived at; eligible for deduction. The provision created being Rs. 97, 03,05,677/-. There was a disallowance of Rs. 51,72,24,597/-, which was added back as income. 10. The specific contention raised by the learned Senior Counsel for the assessee Bank is that

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

27,15,858/-. Thus, a total amount of Rs. 45, 30,81, 080/- was arrived at; eligible for deduction. The provision created being Rs. 97, 03,05,677/-. There was a disallowance of Rs. 51,72,24,597/-, which was added back as income. 10. The specific contention raised by the learned Senior Counsel for the assessee Bank is that

HI-LITE BUILDERS PRIVATE LIMITED ,KOZHIKODE vs. DCIT, CENTRAL CIRCLE-1, KOZHIKODE, KOZHIKODE

In the result, the appeal by the assessee is allowed

Bench: Smt. Beena Pillai & Ms. Padmavathy S.Assessment Year : 2009-10

27. A proviso which is inserted to remedy unintended consequences and to make the provision workable, a proviso which supplies an obvious omission in the Section, is required to be read into the Section to give the Section a reasonable interpretation and requires to be treated as retrospective in operation so that a reasonable interpretation can be given

M/S.IBS SOFTWARE SERVICES P. LTD,TRIVANDRUM vs. THE DCIT, TRIVANDRUM

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Disallowance under Section 36(1)(iii) of the Act of 2 Assessment Year 2013-2014 INR.12,68,911/- The Assessee has now preferred the present appeal challenging Final Assessment Order. The Assessee has raised 17 Grounds of Appeal which are taken up in seriatim hereinafter. Ground No.1 3. Ground No.1 raised by the Assessee reads as under: “1. That

JULIUS RUBEN,KOCHI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), KOCHI

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

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

disallowance of Rs.6,55,650 being cash payments made for purchase of capital assets alleging contravention of sec.40A(3) of the Act. In this context, it is to be mentioned that the assessee had made payments for capital assets purchased by cash. The assessee did not claim any deduction against the cost of capital assets purchased for Rs.6

M/S.KERALA CARS P.LTD,COCHIN vs. ACIT CORPORATE CIRCLE 1(2), COCHIN

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Kerala Cars Pvt. Ltd. Asst. Cit, Corporate Circle-1(2) 508-A, Illakkattu Building Kochi Edappally, Kunamthai Vs. Kochi 682024 [Pan: Aabck4746M] (Appellant) (Respondent)

27 and submitted that there was no dividend income in the year under consideration. Therefore, no disallowance is to be made under the provisions of section

M/S HIGH RANGE FOODS PRIVATE LTD,KOCHI vs. ITO CORPORATE WARD 1(3), KOCHI

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

Bench: Shri Sanjay Arora & Shri Manomohan Dashigh Range Foods Pvt. Ltd. The Income Tax Officer 28/3030, Cheruparambath Road Corporate Ward – 1(3) Vs. Kadavanthra, Kochi 682020 Kochi [Pan:Aaach6076L] (Appellant) (Respondent) Assessee By: Shri P.M. Veeramani, Ca Revenue By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 11.09.2023 Date Of Pronouncement: 11.12.2023 O R D E R Per Sanjay Arora, Am This Appeal By The Assessee Is Directed Against The Order Dated 28.06.2022 By The Commissioner Of Income Tax (Appeals), Nfac, Delhi [Cit(A)], Disallowing The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’) Dated 27.12.2017 For Assessment Year (Ay) 2015-16. 2. The Appeal, Filed On 09.01.2023, Is Delayed By 135 Days. The Condonation Petition Accompanying The Appeal, Which Is Supported By A Sworn Affidavit Dated 29.12.2022 By Shri Simon John, The Director & Principal Officer Of The Assessee- Company, Explains The Delay In Terms Of Non-Conveyance Of The Impugned Order Inasmuch As It’S Uploading On The Itba Was Not Accompanied By A Simultaneous Uploading On The Mobile Application As Well As A Real Time Alert Through Sms, As Required By Clause 11 Of The National Faceless Appeal Scheme (Nfas), So That The Order Cannot Be Regarded As Served On 28.6.2022, The Date Of The Impugned Order And

disallowing the assessee’s appeal contesting it’s assessment under section 143(3) of the Income Tax Act, 1961 (‘the Act’) dated 27.12.2017 for Assessment Year (AY) 2015-16. 2. The appeal, filed on 09.01.2023, is delayed by 135 days. The condonation petition accompanying the appeal, which is supported by a sworn affidavit dated 29.12.2022 by Shri Simon John

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

sections 30 to 53[38], the following amounts shall not be deducted in computing the income chargeable under the head "Profits and gains of business or profession",— (a) in the case of any assessee— (b) in the case of any firm assessable as such,— (i) any payment of salary, bonus, commission or remuneration, by whatever name called (hereinafter referred

M/S SULAIKHA CLAY MINES,TRIVANDRUM vs. DCIT ,CIRCLE 1(2), TRIVANDRUM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

sections 30 to 53[38], the following amounts shall not be deducted in computing the income chargeable under the head "Profits and gains of business or profession",— (a) in the case of any assessee— (b) in the case of any firm assessable as such,— (i) any payment of salary, bonus, commission or remuneration, by whatever name called (hereinafter referred

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

sections 30 to 53[38], the following amounts shall not be deducted in computing the income chargeable under the head "Profits and gains of business or profession",— (a) in the case of any assessee— (b) in the case of any firm assessable as such,— (i) any payment of salary, bonus, commission or remuneration, by whatever name called (hereinafter referred

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

sections 30 to 53[38], the following amounts shall not be deducted in computing the income chargeable under the head "Profits and gains of business or profession",— (a) in the case of any assessee— (b) in the case of any firm assessable as such,— (i) any payment of salary, bonus, commission or remuneration, by whatever name called (hereinafter referred

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

sections 30 to 53[38], the following amounts shall not be deducted in computing the income chargeable under the head "Profits and gains of business or profession",— (a) in the case of any assessee— (b) in the case of any firm assessable as such,— (i) any payment of salary, bonus, commission or remuneration, by whatever name called (hereinafter referred