SRI.VINU SELVARAJ M/S. RADHAS TEXTILES,KOLLAM vs. THE ITO, WD-4, KOLLAM

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

Bench: Shri George George K.

disallowance of 50% of these payments under section 40A(2) of the Act is reasonable and the same is upheld. The ground raised on this issue is dismissed.” 6.2 Aggrieved by the order of the CIT(A), the assessee has raised this issue before the Tribunal. The Ld. AR reiterated the submissions made before the Income Tax authorities

M/S.KERALA STATE CO-OP AGRICULTURAL & RURAL DEV BANK LTD,TRIVANDRUM vs. THE ITO WD-2(1), TRIVANDRUM

In the result, the appeal filed by the assessee in ITA

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

disallowance made by the Assessing Officer by observing as under:- “4.2.1 The Appellant had paid Rs.2,44,46,754 towards contribution to Staff Retirement Benefit Fund. During the assessment proceedings, the Assessing Officer noticed that the said payment is in contravention of the provisions of section 40A(9

M/S.KERALA STATE CO-OP AGRICULTURAL & RURAL DEV BANK LTD,TRIVANDRUM vs. THE ITO WD-2(1), TRIVANDRUM

In the result, the appeal filed by the assessee in ITA

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

disallowance made by the Assessing Officer by observing as under:- “4.2.1 The Appellant had paid Rs.2,44,46,754 towards contribution to Staff Retirement Benefit Fund. During the assessment proceedings, the Assessing Officer noticed that the said payment is in contravention of the provisions of section 40A(9

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.

disallowance by incorrectly invoking the provisions contained in Section 40A(3) of the Act. 8. Per Contra, the Learned Departmental Representative doubted the genuineness of the communications received contending that all communications placed on record by the Assessee were from same supplier. Further, the Learned Departmental Representative vehemently contended that the Assessee had failed to file any supporting documents

M/S.KERALA STATE CO-OP AGRICULTURAL & RURAL DEV BANK LTD,TRIVANDRUM vs. THE ITO WD-2(1), TRIVANDRUM

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

section 40A(9) r.w.s. 36(1)(v) of the Act and therefore disallowed the ITA Nos.579-581/Coch/2018 9 M/s.Kerala State Co-op Agri

M/S.KERALA STATE CO-OP AGRICULTURAL & RURAL DEV BANK LTD,TRIVANDRUM vs. THE ITO WD-2(1), TRIVANDRUM

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

section 40A(9) r.w.s. 36(1)(v) of the Act and therefore disallowed the ITA Nos.579-581/Coch/2018 9 M/s.Kerala State Co-op Agri

M/S.KERALA STATE CO-OP AGRICULTURAL & RURAL DEV BANK LTD,TRIVANDRUM vs. THE ITO WD-2(1), TRIVANDRUM

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

section 40A(9) r.w.s. 36(1)(v) of the Act and therefore disallowed the ITA Nos.579-581/Coch/2018 9 M/s.Kerala State Co-op Agri

THOMSON GRANITES PRIVATE LIMITED,KOMBODINJAMAKKAL vs. ACIT, CIRCLE 1(1), THRISSUR

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

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm Assessment Year: 2014-15 Thomson Granites Pvt. Ltd. .......... Appellant X/616, Kambodinjamakkal Thazhekkad P.O., Thrissur 680697 [Pan: Aacct0876E] Vs. Acit, Circle - 1(1) .......... Respondent Aayakar Bhavan, Municipal Office Road Sakthan Thampuran Nagar Thrissur 680001 Appellant By: Shri Aneesh Vishwanathan, Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 09.01.2025 Date Of Pronouncement: 06.03.2025

disallowed. The press note dated 02.05.1969 issued by the Ministry of Finance clarified that the provisions of section 40A(3) has no application in respect of payments made to agents who solely acting as commission agent. The dealers of petroleum products only acts only as commission agents of petroleum companies.. The relevant part of the note is extracted

KKR AGRO MILLS P. LTD,ERNAKULAM vs. THE ACIT, COCHIN

In the result, appeal is allowed in favour of the assessee

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sassessment Year : 2010-11 Kkr Agro Mills Pvt. Ltd., Vs. Acit, Iii/678, Kkr Building, Okkal Kalady, Circle – 1(2), Ernakulam – 683 550. Kochi. Pan : Aabck 6542 K Assessee Respondent

disallowance, on account of any expenditure being excessive or unreasonable having regard to the fair market value, shall be made in respect of a specified domestic transaction referred to in section 92BA, if such transaction is at arm's length price as defined in clause (ii) of section 92F. (b) The persons referred to in clause (a) are the following

ASIANET SATELLITE COMMUNICATIONS LIMITED,THIRUVANANTHAPURAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, THIRUVANANTHAPURAM

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

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K, Jm

section (43B), the provisions of gratuity payable to approved gratuity fund is allowable as deduction u/s. 40A(7) of the Act as held by the Hon'ble Kerala High Court in the case of CIT vs. Common Welfare Trust (P.) Ltd. [2004] 269 ITR 290 (Ker.). 8. On the other hand, ld. Sr. DR submits that in absence of claim

ASIANET SATELLITE COMMUNICATIONS LIMITED,THIRUVANANTHAPURAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, THIRUVANANTHAPURAM

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

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K, Jm

section (43B), the provisions of gratuity payable to approved gratuity fund is allowable as deduction u/s. 40A(7) of the Act as held by the Hon'ble Kerala High Court in the case of CIT vs. Common Welfare Trust (P.) Ltd. [2004] 269 ITR 290 (Ker.). 8. On the other hand, ld. Sr. DR submits that in absence of claim

THE KALAKKODU SERVICE CO-OP BANK LTD,KOLLAM vs. THE ITO, KOLLAM

In the result, the appeal filed by the assessee is partly allowed and the stay petition filed by the assessee is dismissed as infructuous

Bench: Shrigeorge George K.And Shrilaxmi Prasad Sahu(Assessment Year:2018-19

40a(3), 43B etc. Of the Act and other specific disallowances, related to the business activity against which the chapter VI-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under chapter VI-A is admissible on the profits so enhanced by the disallowance. So our deduction u/s 80P will also

CANON GRANITES PRIVATE LIMITED,THRISSUR vs. ACIT,CIRCLE-1(1), THRISSUR

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

Bench: Shri Inturi Rama Rao & Shri Soundararajan K.Assessment Year : 2013-14

section 40A(3) of the Act. The assessee filed their detailed reply and submitted that raw materials were purchased through their lorry drivers and the materials purchased is below Rs. 20,000/- and therefore no single transaction exceeds Rs. 20,000/-. The assessee also explained the facts and circumstances under which the materials were purchased from various Page

SRI.C.SHAJI,TRIVANDRUM vs. THE ITO, WARD-2(1), TRIVNDRUM

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

9. The next issue for our consideration reads as follow:- “The disallowance of Rs.2,81,63,141/- as cash purchase in excess of Rs.20,000/- citing the provisions of Section 40A

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE ACIT(INTERNATIONAL TAXATION), TRIVANDRUM

In the result, the appeals of the assessee are

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

disallowing the said payments. 3. The first common ground in all the appeals is with regard to the action of the CIT(A) in upholding the tax levied by the Assessing Officer u/s. 201(1) and 201(1A) of the I.T. Act on account of consulting services as there is no deduction of TDS in terms of sec. 40a

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE ACIT(INTERNATIONAL TAXATION), TRIVANDRUM

In the result, the appeals of the assessee are

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

disallowing the said payments. 3. The first common ground in all the appeals is with regard to the action of the CIT(A) in upholding the tax levied by the Assessing Officer u/s. 201(1) and 201(1A) of the I.T. Act on account of consulting services as there is no deduction of TDS in terms of sec. 40a

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE ACIT(INTERNATIONAL TAXATION), TRIVANDRUM

In the result, the appeals of the assessee are

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

disallowing the said payments. 3. The first common ground in all the appeals is with regard to the action of the CIT(A) in upholding the tax levied by the Assessing Officer u/s. 201(1) and 201(1A) of the I.T. Act on account of consulting services as there is no deduction of TDS in terms of sec. 40a

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE ACIT(INTERNATIONAL TAXATION), TRIVANDRUM

In the result, the appeals of the assessee are

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

disallowing the said payments. 3. The first common ground in all the appeals is with regard to the action of the CIT(A) in upholding the tax levied by the Assessing Officer u/s. 201(1) and 201(1A) of the I.T. Act on account of consulting services as there is no deduction of TDS in terms of sec. 40a