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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 617 of the Companies Act, 1956 (1 of 1956);” 24. There is no dispute that the Assessee is eligible to claim deduction u/s.36(1)(vii) of the Act. The deduction is allowed at 40% of the profits derived from eligible business after reducing from such profits any deduction to be allowed u/s.36(1)(viii) of the Act. There

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 617 of the Companies Act, 1956 (1 of 1956);” 24. There is no dispute that the Assessee is eligible to claim deduction u/s.36(1)(vii) of the Act. The deduction is allowed at 40% of the profits derived from eligible business after reducing from such profits any deduction to be allowed u/s.36(1)(viii) of the Act. There

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 617 of the Companies Act, 1956 (1 of 1956);” 24. There is no dispute that the Assessee is eligible to claim deduction u/s.36(1)(vii) of the Act. The deduction is allowed at 40% of the profits derived from eligible business after reducing from such profits any deduction to be allowed u/s.36(1)(viii) of the Act. There

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 617 of the Companies Act, 1956 (1 of 1956);” 24. There is no dispute that the Assessee is eligible to claim deduction u/s.36(1)(vii) of the Act. The deduction is allowed at 40% of the profits derived from eligible business after reducing from such profits any deduction to be allowed u/s.36(1)(viii) of the Act. There

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 617 of the Companies Act, 1956 (1 of 1956);” 24. There is no dispute that the Assessee is eligible to claim deduction u/s.36(1)(vii) of the Act. The deduction is allowed at 40% of the profits derived from eligible business after reducing from such profits any deduction to be allowed u/s.36(1)(viii) of the Act. There

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 617 of the Companies Act, 1956 (1 of 1956);” 24. There is no dispute that the Assessee is eligible to claim deduction u/s.36(1)(vii) of the Act. The deduction is allowed at 40% of the profits derived from eligible business after reducing from such profits any deduction to be allowed u/s.36(1)(viii) of the Act. There

M/S.APOLLO TYRES LTD,COCHIN vs. THE PRINCIPAL COMMISSIONER OF INCOMETAX, COCHIN

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

Bench: Shri Inturi Rama Rao, Am & Shri Rahul Chaudhary, Jm Assessment Year: 2013-14 Apollo Tyres Ltd. .......... Appellant 3Rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036 [Pan: Aaaca6990Q] Vs. Dcit, Corporate Circle-1(1), Kochi ......... Respondent Assessee By: Shri Abraham Joseph Markos, Adv. Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 20.08.2025 Date Of Pronouncement: 01.09.2025

section 32 of the Act. Balance additional depreciation cannot be allowed in subsequent AY, i.e. the year under consideration – Rs. 36,21,58,356/- iii. Disallowance of pre-operative expenditure details of which were extracted by the AO vide para 9 of the draft assessment order. These pre-operative expenditure was incurred for the purpose of setting

DY.COMMISSIONER OF INCOME TAX, THRISSUR vs. THE CSB BANK LTD, THRISSUR

In the result, the appeal of revenue is dismissed

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

disallowance of provisions of bad and doubtful debts to the extent of Rs. 57.57 crores is deleted. 3. The CIT(A) has erred on the following points while deleting the Book profit enhancement consequent to bad and doubtful debt the extent of Rs. 57.57 crores. 3.1. Vijaya Bank decision is applicable only for normal Income and not MAT Income [Minimum

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 of interest of INR.12,68,911/- under Section 36(1)(iii) of the Act. The objection raised by the Assessee

ALICE ARUN,CHENGANNUR vs. INCOME TAX OFFICER, THIRUVALLA

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

Bench: Shri Inturi Rama Rao & Shri Soundararajan K.Assessment Year : 2016-17

disallowed and added to the income of the assessee. Page 3 of 7 3. As against the said order, the assessee filed an appeal before the Ld.CIT(A) and contended that the assessee is entitled for claiming deduction u/s. 36(1)(iii) of the Act since the amounts borrowed were deposited in the firm towards the capital account and thereby

MANJILAS AGRO FOODS PVT. LTD,THRISSUR vs. THACIT,CIRCLE-1(1 ), THRISSUR

In the result, all the appeals by the assessee are partly allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S.

1-4-2015 whereas the year before us relates to the assessment year 2012-13. The Finance Act, 2014 brought an amendment to the first proviso to the section 40(a)(ia) of the Act which reads as under – “Accordingly, Section 40(a)(ia) of the Income-tax Act has been amended to provide that in case of non-deduction

MANJILAS AGRO FOOD PVT.LTD.,THRISSUR vs. THE ITO,WARD-1(2),, THRISSUR

In the result, all the appeals by the assessee are partly allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S.

1-4-2015 whereas the year before us relates to the assessment year 2012-13. The Finance Act, 2014 brought an amendment to the first proviso to the section 40(a)(ia) of the Act which reads as under – “Accordingly, Section 40(a)(ia) of the Income-tax Act has been amended to provide that in case of non-deduction

THE ACIT, CIRCLE-1(1), THRRISSUR vs. MANJILAS AGRO FOODS PVT. LTD., THRISSUR

In the result, all the appeals by the assessee are partly allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S.

1-4-2015 whereas the year before us relates to the assessment year 2012-13. The Finance Act, 2014 brought an amendment to the first proviso to the section 40(a)(ia) of the Act which reads as under – “Accordingly, Section 40(a)(ia) of the Income-tax Act has been amended to provide that in case of non-deduction

M/S.KERALA STATE WAREHOUSING CORPN,ERNAKULAM vs. THE ACIT, KOCHI

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

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Kerala State Warehousing Vs Acit, Corporate Circle 1(2) Corporation Is Press Road Kochi 682018 Pb No. 1727, Warehousing Corporation Road Ernakulam 682016 Pan – Aabck1583G (Appellant) (Respondent) Assessee By: Shri K. Gopi, Ca Revenue By: Shri Shantam Bose, Cit Dr

disallowed u/s 43B or u/s 36 (l)(va) of the Income Tax Act. k) Other decisions in favour of the appellant In the following decisions, the High Courts have held that payments of Employees share of PF collected if made before the date of filing of return is sufficient compliance of section 43B of the Income

M/S.JOY ALUKKAS INDIA P. LTD,COCHIN vs. THE ACIT, COCHIN

In the result, the appeal filed by the Assessee stands partly allowed for statistical purposes

Bench: Shri Inturi Rama Rao, Am& Shri Rahul Chaudharyit (Tp) A No. 119/Coch/2016 (Assessment Year: 2011-12) & It (Tp) A Nos. 38 & 643/Coch/2017 (Assessment Years :2012-13 & 2013-14)

disallowing the same under proviso to section 36(1)(iii) on notional basis. The improvements to leasehold properties was considered

M/S.JOY ALUKKAS INDIA P. LTD,TRICHUR vs. THE ACIT, ERNAKULAM

In the result, the appeal filed by the Assessee stands partly allowed for statistical purposes

Bench: Shri Inturi Rama Rao, Am& Shri Rahul Chaudharyit (Tp) A No. 119/Coch/2016 (Assessment Year: 2011-12) & It (Tp) A Nos. 38 & 643/Coch/2017 (Assessment Years :2012-13 & 2013-14)

disallowing the same under proviso to section 36(1)(iii) on notional basis. The improvements to leasehold properties was considered

FEDBANK FINANCIAL SERVICES LIMITED,ERNAKULAM vs. THE DCIT CIRCLE 1(1), KOCHI, KOCHI

In the result, the appeal of the assessee is allowed

Bench: Shri George George K. & Ms. Padmavathy S.Assessment Year : 2017-18

36(1) (viia) (d) provides that deduction in respect of any provision for bad and doubtful debts made by Non-Banking Financial Company can be allowed to an extent of an amount not exceeding 5% of the total amount computed before making any deduction under this clause and Chapter VIA. A non-banking financial company shall have the meaning assigned

REENA ENGINEERS AND CONTRACTORS PRIVATE LTD,PANAJI vs. ACIT, CENTRAL CIRCLE-1, CALICUT

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

36,56,550/-. While doing so, the AO made disallowance of Rs. 1,17,70,000/- based on the analysis of the labour charges found in the ledger for the failure of the assessee to produce vouchers in support of labour charges. 13. Being aggrieved, an appeal was filed before the CIT(A), contending that such disallowance cannot be made

REENA ENGINEERS AND CONTRACTORS PRIVATE LTD,PANAJI vs. ACIT, CENTRAL CIRCLE-1, CALICUT

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

36,56,550/-. While doing so, the AO made disallowance of Rs. 1,17,70,000/- based on the analysis of the labour charges found in the ledger for the failure of the assessee to produce vouchers in support of labour charges. 13. Being aggrieved, an appeal was filed before the CIT(A), contending that such disallowance cannot be made