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

AVINISSERY SERVICE CO-OPERATIVE BANK LTD,THRISSUR vs. THE INCOME TAX OFFICER WARD 2(1),THRISSUR, THRISSUR

disallow deductions claimed under section 80P of the Income-tax Act, notwithstanding that mere nomenclature or registration certificates issued under the Kerala Act would show that the assessees are primary agricultural credit societies. These divergent decisions led to a reference order dated 9-7-2018 to a Full Bench of the Kerala High Court.* - *5. The Full Bench

THE DCIT, COCHIN vs. M/S.ASPINWALL & CO. LTD, COCHIN

In the result,the appeal of the Revenue in ITA No

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

2) of section 115JB of the Act. The contention of the Ld. AR is that the assessee is following mercantile system of accounting and therefore, the provision is to be allowed, though it was I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017 crystallized in the year in which the order of the Government of Kerala in G.O. (Ms) No.162/13/RD dated

ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

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

2) of section 115JB of the Act. The contention of the Ld. AR is that the assessee is following mercantile system of accounting and therefore, the provision is to be allowed, though it was I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017 crystallized in the year in which the order of the Government of Kerala in G.O. (Ms) No.162/13/RD dated

ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

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

2) of section 115JB of the Act. The contention of the Ld. AR is that the assessee is following mercantile system of accounting and therefore, the provision is to be allowed, though it was I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017 crystallized in the year in which the order of the Government of Kerala in G.O. (Ms) No.162/13/RD dated

M/S ASPINWALL & CO.,LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

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

2) of section 115JB of the Act. The contention of the Ld. AR is that the assessee is following mercantile system of accounting and therefore, the provision is to be allowed, though it was I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017 crystallized in the year in which the order of the Government of Kerala in G.O. (Ms) No.162/13/RD dated

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

2. As per the Office record, Service is complete on the sole respondent but none has entered appearance on behalf of the Respondnet Assessee. 3. Mr. Balbir Sharma, learned Additional Solicitor General appearing for the appellant submits that the issue involved in this appeal is squarely answered in favour of the Revenue by a Three-Judge Bench of this Court

M/S POPULAR FINANCE COMPANY,PATHANAMTHITTA vs. THE ACIT,CIR-1,, THIRUVALLA

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

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

M/S.POPULAR FINANCE,PATHANAMTHITTA vs. THE ACIT, CIRCLE-1, THIRUVALLA

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

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

M/S POPULAR FINANCE COMPANY,PATHANAMTHITTA vs. THE ACIT,CIR-1,, THIRUVALLA

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

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

THE ACIT, CIRCLE-1, THIRUVALLA, THIRUVALLA vs. MAR GREGORIOUS MEMORIAL MUTHOOT MEDICAL CENTRE, PATHANAMTHITTA

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

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

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

32. Indisputably, section 36 (i) (iii) allows the assessee to deduct the interest paid on the capital borrowed for the business or profession. Section 37 deals with the deductible expenditures. The provision reads: 37. General- (1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure

M/S THURAYUR SERVICE CO -OP BANK LTD,KOZHIKODE vs. THE ITO WARD 2(1), KOZHIKODE

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed assessee’s section 80P deduction claim of Rs.53,79,728/- and Rs.63,67,085/-, inter alia, treating it as co-operative Thurayur SCB Limited. bank and also for the reason that the corresponding loans to the extent of 25% only had been advanced to agricultural sector, as the case may be. 3. We have given thoughtful consideration