SMT. MARIES JOSEPH,THRISSUR vs. DCIT, INT. TAXATION, KOCHI, KOCHI

In the result, appeal in ITA No

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

house within the time limit stipulated under the said section. 13. It is submitted by the ld AR that the AO had allowed the deduction u/s.54F with respect to the Apartment in Sobha City which is not correct since the payments towards cost of the Apartment was paid by assesse's husband Dr. Jose Joseph Vempilly completely

SMT. MARIES JOSEPH,THRISSUR vs. DCIT, INT. TAXATION, KOCHI, KOCHI

In the result, appeal in ITA No

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

house within the time limit stipulated under the said section. 13. It is submitted by the ld AR that the AO had allowed the deduction u/s.54F with respect to the Apartment in Sobha City which is not correct since the payments towards cost of the Apartment was paid by assesse's husband Dr. Jose Joseph Vempilly completely

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

section 2(15) excludes from exemption the carrying on of activities for profit even if they are linked with the objectives of general public utility, because the statute interdicts, for purposes of tax relief, the advancement of such objects by involvement in the carrying on of activities for profit. We appreciate the involved language we use, but when legislative draftsmanship

INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

section 2(15) excludes from exemption the carrying on of activities for profit even if they are linked with the objectives of general public utility, because the statute interdicts, for purposes of tax relief, the advancement of such objects by involvement in the carrying on of activities for profit. We appreciate the involved language we use, but when legislative draftsmanship

INFOPARKS KERALA,COCHIN vs. THE ACIT, COCHIN

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm

section 2(15) excludes from exemption the carrying on of activities for profit even if they are linked with the objectives of general public utility, because the statute interdicts, for purposes of tax relief, the advancement of such objects by involvement in the carrying on of activities for profit. We appreciate the involved language we use, but when legislative draftsmanship

ASSISTANT DIRECTOR OF INCOME-TAX(EXEMPTION), TRIVANDRUM vs. KERALA INDUSTRIAL INFRASTRUCTURE DEV.CORPORATION, TRIVANDRUM

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

property and utilisation of that parcel. The question whether the proviso to Section 2(15) would apply is something that has to be decided on the basis of the activity or activities during a particular year which would fall for consideration at the hands of the Assessing Authority. 4. We are of the firm view that the decision rendered

KERALA INDUSTRIAL INFRASTRUTURE DEV CORPORATION(KINFRA),TRIVANDRUM vs. THE ASSISTANT DIRECTOR OF INCOME TAX(EXEMPTION), TRIVANDRUM

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

property and utilisation of that parcel. The question whether the proviso to Section 2(15) would apply is something that has to be decided on the basis of the activity or activities during a particular year which would fall for consideration at the hands of the Assessing Authority. 4. We are of the firm view that the decision rendered

ROSE GEORGE KOLLANUR,THRISSUR vs. ITO WARD 2(2), THRISSUR, THRISSUR

In the result, the appeal by the assessee is allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sassessment Year : 2014-15

House, Ward 2(2), Kallekundur Road, Vettikattiri Post, Thrissur. Cheruthuruthy, Thrissur – 679 531. PAN : ECBPK 8337R APPELLANT RESPONDENT Assessee by : Shri V Ramnath, CA Revenue by : Smt. J M Jamuna Devi, Sr. AR Date of hearing : 06.12.2022 Date of Pronouncement : 19.12.2022 O R D E R Per Padmavathy S, Accountant Member: This appeal is against the order of CIT (Appeals

THRISSUR DISTRICT POLICE CO OPERATIVE SOCIETY LTD,THRISSUR vs. INCOME TAX OFFICER, THRISSUR

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

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

house property incomeare not covered under the provision of section 80P(2)(a)(i) of Act as these incomesare not earned by providing credit facilities to its members. ii) The assessee society regularly invested funds not immediately required for business purposes. Interest on such investments, therefore could not fall within the meaning of the expression ‘ profits and gains of business

THRISSUR DISTRICT POLICE CO OPERATIVE SOCIETY LTD,THRISSUR vs. INCOME TAX OFFICER, THRISSUR

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

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

house property incomeare not covered under the provision of section 80P(2)(a)(i) of Act as these incomesare not earned by providing credit facilities to its members. ii) The assessee society regularly invested funds not immediately required for business purposes. Interest on such investments, therefore could not fall within the meaning of the expression ‘ profits and gains of business

KUMAR MADHAVANPILLAI.S,THIRUVANANTHAPURAM vs. ITO, WARD-1(4), TRIVANDRUM

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Kumar Madhavanpillai S. Income Tax Officer -1(4) Chandra Press & Book Depot Aayakar Bhavan, Kowdiar P.O. Manjalikulam Road Thiruvananthapuram 695003 Vs. Thampanoor Thiruvananthapuram 695001 [Pan: Ajxps9299P] (Appellant) (Respondent)

15. The next controversy arises whether the gain arising on the sale of depreciable assessed is eligible for exemption under section 54/54F of the Act. It is a fact on record that the depreciable assets are subject to short-term capital gain in pursuance to the provisions of section 50 of the Act irrespective of the period of holding. However

MRS.GRACY BABU,ADOOR P.O., PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

house property; D. Profits and gains of business or profession; E. Capital gains; F. income from other sources unless otherwise, provided in the Act. (15) Section

MRS.GRACY BABU,ADOOR P.O., PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

house property; D. Profits and gains of business or profession; E. Capital gains; F. income from other sources unless otherwise, provided in the Act. (15) Section

MRS.REENA JOSE,PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE,, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

house property; D. Profits and gains of business or profession; E. Capital gains; F. income from other sources unless otherwise, provided in the Act. (15) Section

SRI.JOSE THOMAS,ADOOR P.O., PATHANAMTHITTA vs. THE ACIT,CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

house property; D. Profits and gains of business or profession; E. Capital gains; F. income from other sources unless otherwise, provided in the Act. (15) Section

SRI.JOSE THOMAS,ADOOR P.O., PATHANAMTHITTA vs. THE ACIT,CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

house property; D. Profits and gains of business or profession; E. Capital gains; F. income from other sources unless otherwise, provided in the Act. (15) Section

A K SANTHOSH,KOCHI vs. DCIT, CORPORATE CIRCLE-1(1), KOCHI, KOCHI

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

15% as against 30% claimed. Therefore, this ground of appeal of the assessee is dismissed. A.K. Santhosh A.Y. 2013-14 & 2015-16 9. Regarding 3rd ground of appeal of the assessee on the issue of treatment of lease rent received as income from house property instead of income from other sources. We find that assesse has let out his business

A K SANTHOSH,KOCHI vs. DCIT, CORPORATE CIRCLE-1(1), KOCHI, KOCHI

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

15% as against 30% claimed. Therefore, this ground of appeal of the assessee is dismissed. A.K. Santhosh A.Y. 2013-14 & 2015-16 9. Regarding 3rd ground of appeal of the assessee on the issue of treatment of lease rent received as income from house property instead of income from other sources. We find that assesse has let out his business

SHRI.P.V. RAVEENDRAN,KANNUR vs. THE ITO, KANNUR

In the result, both the appeals filed by the assessee stands allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

15 by declaring a total income at Rs. 6,00,000/- after the survey u/s 133A. Accordingly the assessment was completed accepting the income declared by the assessee. It is to be seen that the assessee offered said income of Rs. 6,00,000 which is comprised of income from House Property of Rs. 72,000/- and income from toddy