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

Properties and Investments Ltd. and Another in ITA Nos. 69 to 72 and 73 to 75/Coch/ dated 21/02/2019 wherein it was held as follows: 4. Since the facts in all these appeals are identical in nature, we consider the facts as narrated in ITA No.69/Coch/2018. The original assessment in this case was completed u/s 143(3) r.ws

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

Properties & Investments, Income-tax, Circle-1, Thiruvalla. Muthoot Building, Kozhencherry, Pathanamthitta. [PAN:AACFM7321G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Smt. A.S. Bindhu, Sr. DR Assessee by Shri R. Srinivasan, CA Date of hearing 18/12/2018 Date of pronouncement 21/02/2019 I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 O R D E R Per CHANDRA POOJARI, AM: These appeals filed

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

Properties & Investments, Income-tax, Circle-1, Thiruvalla. Muthoot Building, Kozhencherry, Pathanamthitta. [PAN:AACFM7321G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Smt. A.S. Bindhu, Sr. DR Assessee by Shri R. Srinivasan, CA Date of hearing 18/12/2018 Date of pronouncement 21/02/2019 I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 O R D E R Per CHANDRA POOJARI, AM: These appeals filed

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

Properties & Investments, Income-tax, Circle-1, Thiruvalla. Muthoot Building, Kozhencherry, Pathanamthitta. [PAN:AACFM7321G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Smt. A.S. Bindhu, Sr. DR Assessee by Shri R. Srinivasan, CA Date of hearing 18/12/2018 Date of pronouncement 21/02/2019 I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 O R D E R Per CHANDRA POOJARI, AM: These appeals filed

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

Properties & Investments, Income-tax, Circle-1, Thiruvalla. Muthoot Building, Kozhencherry, Pathanamthitta. [PAN:AACFM7321G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Smt. A.S. Bindhu, Sr. DR Assessee by Shri R. Srinivasan, CA Date of hearing 18/12/2018 Date of pronouncement 21/02/2019 I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 O R D E R Per CHANDRA POOJARI, AM: These appeals filed

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

Properties & Investments, Income-tax, Circle-1, Thiruvalla. Muthoot Building, Kozhencherry, Pathanamthitta. [PAN:AACFM7321G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Smt. A.S. Bindhu, Sr. DR Assessee by Shri R. Srinivasan, CA Date of hearing 18/12/2018 Date of pronouncement 21/02/2019 I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 O R D E R Per CHANDRA POOJARI, AM: These appeals filed

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

Properties & Investments, Income-tax, Circle-1, Thiruvalla. Muthoot Building, Kozhencherry, Pathanamthitta. [PAN:AACFM7321G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Smt. A.S. Bindhu, Sr. DR Assessee by Shri R. Srinivasan, CA Date of hearing 18/12/2018 Date of pronouncement 21/02/2019 I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 O R D E R Per CHANDRA POOJARI, AM: These appeals filed

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

Properties & Investments, Income-tax, Circle-1, Thiruvalla. Muthoot Building, Kozhencherry, Pathanamthitta. [PAN:AACFM7321G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Smt. A.S. Bindhu, Sr. DR Assessee by Shri R. Srinivasan, CA Date of hearing 18/12/2018 Date of pronouncement 21/02/2019 I.T.A. Nos. 69-72/Coch/2018 & 73-75/Coch/2018 O R D E R Per CHANDRA POOJARI, AM: These appeals filed

M/S.PERRORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

house property, capital gains and income from other sources, if any, in accordance with provisions of relevant chapters after making due enquiries and calling for information. C. Compute Gross Total Income being A+B above. D Determine profits from accounts eligible to be deducted under section 80P(2)(a) to (f) covering only items included in each

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

house property, capital gains and income from other sources, if any, in accordance with provisions of relevant chapters after making due enquiries and calling for information. C. Compute Gross Total Income being A+B above. D Determine profits from accounts eligible to be deducted under section 80P(2)(a) to (f) covering only items included in each

THE ITO, TRIVANDRUM vs. M/S.PERRORKADA SERVICE CO-OP BANK LTD, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

house property, capital gains and income from other sources, if any, in accordance with provisions of relevant chapters after making due enquiries and calling for information. C. Compute Gross Total Income being A+B above. D Determine profits from accounts eligible to be deducted under section 80P(2)(a) to (f) covering only items included in each

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

house property, capital gains and income from other sources, if any, in accordance with provisions of relevant chapters after making due enquiries and calling for information. C. Compute Gross Total Income being A+B above. D Determine profits from accounts eligible to be deducted under section 80P(2)(a) to (f) covering only items included in each

M/S.PERRORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

house property, capital gains and income from other sources, if any, in accordance with provisions of relevant chapters after making due enquiries and calling for information. C. Compute Gross Total Income being A+B above. D Determine profits from accounts eligible to be deducted under section 80P(2)(a) to (f) covering only items included in each

SMT SUNITHA PREM VICTOR,TRIVANDRUM vs. ITO WARD 2(3), TRIVANDRUM

In the result, the assessee’s appeal is partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Dassunita Prem Victor The Income Tax Officer Tc 25/2813 Mathrubhumi Road Ward – 2(3) Vs. Vanchiyoor, Trivandrum 695035 Trivandrum [Pan:Akopv8566C] (Appellant) (Respondent) Assessee By: Ms. Divya Ravindran, Advocate Revenue By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 11.10.2023 Date Of Pronouncement: 30.10.2023 O R D E R Per Sanjay Arora, Am This Is An Appeal By The Assessee Against The Order Dated 26.10.2022 By The Commissioner Of Income Tax (Appeals), Nfac, Delhi [Cit(A)],Partly Allowing Her Appeal Contesting Her Assessment Under Section 143(3) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) Dated 27.12.2016 For Assessment Year (Ay) 2014-15. 2. The Brief Facts Of The Case Are That The Assessee Returned Her Income For The Relevant Year On 18.12.2014 At Rs.5,67,250, Claiming Deduction Under Section 54 Of The Act At Rs.91,05,096 In Respect Of Construction Of A Residential House During The Relevant Year Against The Capital Gain Arising To Her On Sale Of 3 Pieces Of Land Sold During March, 2013 To November, 2013. The Claim Was, Admitting Her Mistake Inasmuch As The Capital Asset/S Sold Was Not A Residential House, Requested By The Assessee Vide Letter Dated 29.11.2016 For Being Considered U/S. 54F Of The Act; She Not Owning Any Other Residential House On The Date Of Transfer/S. Earlier, On 25.11.2016, A Revised Statement Of Income Was Filed Claiming Exemption With Reference To The Total

section 54 of the Act at Rs.91,05,096 in respect of construction of a residential house during the relevant year against the capital gain arising to her on sale of 3 pieces of land sold during March, 2013 to November, 2013. The claim was, admitting her mistake inasmuch as the capital asset/s sold was not a residential house, requested

SRI SRAVAN KUMAR NEELA,NALGONDA vs. ACIT CENTRAL CIRCLE 1, KOZHIKODE

In the result, the instant appeals by the assesses are dismissed

Bench: Shri Sanjay Arora & Shri Manomohan Dasuma Maheshwara Rao Chinni Asst. Cit, Central Circle -1, Hno. 7-298, 7 Ward Aayakar Bhavan (North Block) Gandhi Bomma Centre Vs. Kozhikode 673001 Dachepalle, Guntur 522414 [Pan:Arjpc0342D] (Appellant) (Respondent)

Property Transactions Act, etc., with a view to curb the mischief of subsequently disclosing the undisclosed cash/entries/assets of earlier years in return of income filed for current year in the garb of regular business income or income from other sources and paying much less taxes and that too without paying any penalty also. This was also intended to prevent such

SRI UMA MAHESHWARA RAO CHINNI,GUNTUR vs. ASST COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, KOZHIKODE

In the result, the instant appeals by the assesses are dismissed

Bench: Shri Sanjay Arora & Shri Manomohan Dasuma Maheshwara Rao Chinni Asst. Cit, Central Circle -1, Hno. 7-298, 7 Ward Aayakar Bhavan (North Block) Gandhi Bomma Centre Vs. Kozhikode 673001 Dachepalle, Guntur 522414 [Pan:Arjpc0342D] (Appellant) (Respondent)

Property Transactions Act, etc., with a view to curb the mischief of subsequently disclosing the undisclosed cash/entries/assets of earlier years in return of income filed for current year in the garb of regular business income or income from other sources and paying much less taxes and that too without paying any penalty also. This was also intended to prevent such

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Housing Society and NDMC (supra). B.2. However, at the same time, in every case, the assessing authorities would have to apply their minds and scrutinize the records, to determine if, and to what extent, the consideration or amounts charged are significantly higher than the cost and a nominal mark-up. If such is the case, then the receipts would indicate

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Housing Society and NDMC (supra). B.2. However, at the same time, in every case, the assessing authorities would have to apply their minds and scrutinize the records, to determine if, and to what extent, the consideration or amounts charged are significantly higher than the cost and a nominal mark-up. If such is the case, then the receipts would indicate