M/S.KANNAN DEVAN HILLS PLANTATIONS COMPANY P. LTD,IDUKKI vs. THE ACIT, COCHIN

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

Bench: SMT. BEENA PILLAI (Judicial Member), MS. PADMAVATHY S (Accountant Member)

section 10(30) are very specific and Page 4 of 17 clear on the nature of benefit to be granted to the assessee on subsidy receipts. It was also observed that there was no ambiguity in the intention of the Government in not notifying the subsidy in question that the same was not eligible for exemption u/s.10(30

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

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

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

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

disallowance of the said expenditure under Section 40(a)(ia) of IT Act. 18. With a view to mitigate this hardship, Section 40(a)(ia) was amended by the Finance Act, 2008 and the provision so amended read as under:— "40. Notwithstanding anything to the contrary in Sections 30

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

30 of EPF&MP Act is also pointed out to argue that whether it be the contribution of the employer or the employee, it is the liability of the employer and, hence, the employer's and employee's contribution cannot be treated differently insofar as the deductions permissible under Section 36 (1) (va) 4. The Commissioner of Income Tax (Appeals

M/S THE REGIONAL AGRO INDUSTRIAL DEVELOPMENT COOPERATIVE OF KERALA LTD,KANNUR vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KANNUR RANGE

Bench: The Tribunal Within The Time Prescribed. Accordingly, The Delay Of 69 Days In Filing The Present Appeal Is Condoned.

Section 40A(3) of the Act and Rule 6DD of the Income Tax Rules 1961 [for short ‘the IT Rules’], disallowance was not warranted in the facts and circumstances of the present case. However, the Assessing Officer was not convinced with the explanation/submissions of the Assessee and proceeded to disallow INR.72,30

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

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

disallowed the 30% of the interest payments and consequently levied the penalty u/s. 270A(1) of the Act as underreporting. As already stated, the word used in section

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

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

Section 92B of the Act. We also reject the contention of the Assessee that continuing debit balance of short term advances did not constitute an ‘International Transaction’. Therefore, Ground No. 4.1 raised by the Assessee is dismissed. 5.3. During the assessment proceedings the TPO noted that the Assessee was providing loans and advances to its AEs and was not charging

INCOME TAX OFFICER, PALAKKAD vs. THE PALAKKAD DISTRICT CO-OP SOCIETY LTD, PALAKKAD

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 40(a)(ia) disallowance (s) of the Act on the ground that the assessee; a co-operative bank, had not deducted any TDS on the interest payment made to its members. We reiterate that the assessment year before us for A.Y. 2015-2016. And that the corresponding statutory provision herein, i.e., sec.194A(3)(v) has witnessed an amendment vide

THE KERALA MINERALS AND METALS LIMITED,KOLLAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, KOLLAM

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

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am Assessment Year: 2007-08 The Kerala Minerals & Metals Ltd. .......... Appellant Sankaramangalam, Chavara, Kollam 691583 [Pan: Aaact8118R] Vs. Asst. Commissioner Of Income Tax .......... Respondent Circle - 1, Kollam Appellant By: Shri Rajeev R., Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 13.05.2025 Date Of Pronouncement: 16.05.2025

disallowance of expenditure incurred on replacement of Rotary Calciner was restored to the file of the AO in light of the decision of the Hon'ble Supreme Court in the case of Saravana Spinning Mills P. Ltd. 293 ITR 201. The relevant part of the findings of Tribunal is as follows: “7. The assessee has taken one more ground

M/S.STATE BANK OF INDIA(SUCCESSOR TO STATE BANK OF TRAVANCORE),TRIVANDRUM vs. THE ACIT, TRIVANDRUM

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance /addition amounting to Rs.10,90,20,000/- made in the course of assessment herein dated 16.12.2015 as upheld in the CIT(A)'s detailed discussion as under : “2.3. I considered both the views expressed. As per section 36(1)(vili) of the Act, what is to be considered is the profit derived from the eligible business computed under

M/S.STATE BANK OF INDIA(SUCCESSOR TO STATE BANK OF TRAVANCORE),TRIVANDRUM vs. THE ACIT, TRIVANDRUM

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance /addition amounting to Rs.10,90,20,000/- made in the course of assessment herein dated 16.12.2015 as upheld in the CIT(A)'s detailed discussion as under : “2.3. I considered both the views expressed. As per section 36(1)(vili) of the Act, what is to be considered is the profit derived from the eligible business computed under

M/S. K.K ABRAHAM AND COMPANY,KOCHI vs. THE ITO, NON CORPORATE WARD 1(3), KOCHI

In the result, the appeals filed by the assessee are allowed

Bench: Shri George George K. & Ms. Padmavathy S.

30 to 43D. By virtue of Section 5 of the Act, that total income of any previous years includes all income from whatever source derived. For the purpose of Section 40(b) read with Explanation, there cannot be separate method of accounting for ascertaining the net profit and/or book profit. The said section nowhere provides that the net profit

M/S. K.K ABRAHAM AND COMPANY,KOCHI vs. THE ITO, NON CORPORATE WARD 1(3), KOCHI

In the result, the appeals filed by the assessee are allowed

Bench: Shri George George K. & Ms. Padmavathy S.

30 to 43D. By virtue of Section 5 of the Act, that total income of any previous years includes all income from whatever source derived. For the purpose of Section 40(b) read with Explanation, there cannot be separate method of accounting for ascertaining the net profit and/or book profit. The said section nowhere provides that the net profit

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

30,000.00 charges Rs.30,000 Total 6,55,650.00 The Ld. Commissioner of Income Tax (appeals) grossly erred in sustaining the addition of Rs. 6,55,650/- wrongly made by the assessing authority invoking the provisions of section 154 of the Act. 5. The Learned Commissioner of Income Tax (Appeals) failed to accept and appreciate that the Ld. Assessing Authority