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

housing society; property chargeable under section 22. (2) An urban consumer society; (3) A society carrying on transport business; (4) A society engaged in the performance of any manufacturing operations with the aid of power, where the gross total income does not exceed Rs. 20,000 (twenty thousand rupees) 29. From the Tabular form presented above, it may be clear

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

housing society; property chargeable under section 22. (2) An urban consumer society; (3) A society carrying on transport business; (4) A society engaged in the performance of any manufacturing operations with the aid of power, where the gross total income does not exceed Rs. 20,000 (twenty thousand rupees) 29. From the Tabular form presented above, it may be clear

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

housing society; property chargeable under section 22. (2) An urban consumer society; (3) A society carrying on transport business; (4) A society engaged in the performance of any manufacturing operations with the aid of power, where the gross total income does not exceed Rs. 20,000 (twenty thousand rupees) 29. From the Tabular form presented above, it may be clear

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

property’ (IFHP), and cannot be treated as business income. Reliance stood also placed by it on the decisions in Addl.CIT v. Surat Art and Silk Mfrs. Assn. [1980] 121 ITR 1 (SC); CIT v. Gujarat Maritime Board [2007] 295 ITR 561 (SC); CIT v. Dawoodi Bohra Jamat [2014] 364 ITR 31 (SC); and DIT(E) v. Sabarmati Ashram Gaushala Trust

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

property’ (IFHP), and cannot be treated as business income. Reliance stood also placed by it on the decisions in Addl.CIT v. Surat Art and Silk Mfrs. Assn. [1980] 121 ITR 1 (SC); CIT v. Gujarat Maritime Board [2007] 295 ITR 561 (SC); CIT v. Dawoodi Bohra Jamat [2014] 364 ITR 31 (SC); and DIT(E) v. Sabarmati Ashram Gaushala Trust

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

property’ (IFHP), and cannot be treated as business income. Reliance stood also placed by it on the decisions in Addl.CIT v. Surat Art and Silk Mfrs. Assn. [1980] 121 ITR 1 (SC); CIT v. Gujarat Maritime Board [2007] 295 ITR 561 (SC); CIT v. Dawoodi Bohra Jamat [2014] 364 ITR 31 (SC); and DIT(E) v. Sabarmati Ashram Gaushala Trust

HLL BIOTECH LTD,TRIVANDRUM vs. THE ITO, WD-1(1), TRIVANDRUM

In the result, the appeals of the assessee as well as the Stay Petitions filed

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

4 D(i) the assesse has income from 'Interest on Deposits', Rs. 3,23,91,000/- and 'Interest Income from Holding Company' Rs. 93,84,000/-. Thus, CIT(A) observed that the assessee had earned interest on unutilized surplus funds. 4.3 Finally, the CIT(A) by relying on the decision of ITAT, Hyderabad Bench in the case of Thermal Powertech

HLL BIOTECH LTD,TRIVANDRUM vs. THE ITO, WD-1(1), TRIVANDRUM

In the result, the appeals of the assessee as well as the Stay Petitions filed

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

4 D(i) the assesse has income from 'Interest on Deposits', Rs. 3,23,91,000/- and 'Interest Income from Holding Company' Rs. 93,84,000/-. Thus, CIT(A) observed that the assessee had earned interest on unutilized surplus funds. 4.3 Finally, the CIT(A) by relying on the decision of ITAT, Hyderabad Bench in the case of Thermal Powertech

HLL BIOTECH LTD,TRIVANDRUM vs. THE ITO, WD-1(1), TRIVANDRUM

In the result, the appeals of the assessee as well as the Stay Petitions filed

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

4 D(i) the assesse has income from 'Interest on Deposits', Rs. 3,23,91,000/- and 'Interest Income from Holding Company' Rs. 93,84,000/-. Thus, CIT(A) observed that the assessee had earned interest on unutilized surplus funds. 4.3 Finally, the CIT(A) by relying on the decision of ITAT, Hyderabad Bench in the case of Thermal Powertech

KUNDOLY KRISHNANKUTTY SUNIL,THRISSUR vs. INCOME TAX OFFICER,WARD 2(1), THRISSUR

4. The relevant facts in brief are the Assessee, an individual resident, filed return of income for the Assessment Year 2016-17 on 01/08/2016 declaring total income of INR 50,85,060/-. The case of the Assessee was selected for scrutiny. The Assessing Officer completed the assessment under Section 143(3) of the Act vide Assessment Order, dated 10/12/2018

THE ACIT, TRICHUR vs. SRI.ARUN MAJEED, THRISSUR

In the result, the appeals of the Revenue are dismissed

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

4 plots and selling them individually constitute an adventure in nature of trade. In this I.T.A. Nos.494 - 497/Coch/2018 case on reference the HC had held that the intention of the assessee even when they purchased the land was to resell the same and not to make an investment. The Supreme Court upheld the decision of the HC. 9.1 In view

THE ACIT, TRICHUR vs. SRI.ARUN MAJEED, THRISSUR

In the result, the appeals of the Revenue are dismissed

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

4 plots and selling them individually constitute an adventure in nature of trade. In this I.T.A. Nos.494 - 497/Coch/2018 case on reference the HC had held that the intention of the assessee even when they purchased the land was to resell the same and not to make an investment. The Supreme Court upheld the decision of the HC. 9.1 In view

THE ACIT, TRICHUR vs. SRI.ARUN MAJEED, THRISSUR

In the result, the appeals of the Revenue are dismissed

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

4 plots and selling them individually constitute an adventure in nature of trade. In this I.T.A. Nos.494 - 497/Coch/2018 case on reference the HC had held that the intention of the assessee even when they purchased the land was to resell the same and not to make an investment. The Supreme Court upheld the decision of the HC. 9.1 In view

THE ACIT, TRICHUR vs. SRI.ARUN MAJEED, THRISSUR

In the result, the appeals of the Revenue are dismissed

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

4 plots and selling them individually constitute an adventure in nature of trade. In this I.T.A. Nos.494 - 497/Coch/2018 case on reference the HC had held that the intention of the assessee even when they purchased the land was to resell the same and not to make an investment. The Supreme Court upheld the decision of the HC. 9.1 In view

AJIT ASSOCIATES PRIVATE LIMITED,ERNAKULAM vs. JCIT, CORPORATE RANGE - 1, KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

Bench: Shri Sanjay Arora, Am &Shriabyt.Varkey, Jm

section 147 r.w.s. 143(3) of the Income-tax Act, 1961 (hereinafter ‘the Act’) dated 18.3.2015 and 29.3.2014 for assessment year (AY) 2007-2008, respectively. The background facts of both the cases being same, these are heard together, and are being disposed of pera common, consolidated order for the sake of convenience. ITA Nos.870& 884 /Coch/2022 (AY 2007-08) Ajit

GOOD HOMES PVT LTD,KOCHI vs. DEPUTY COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1(1), KOCHI

In the result, the assessee’s appeals are allowed for statistical purposes

Bench: Shri Sanjay Arora, Am &Shriabyt.Varkey, Jm

section 147 r.w.s. 143(3) of the Income-tax Act, 1961 (hereinafter ‘the Act’) dated 18.3.2015 and 29.3.2014 for assessment year (AY) 2007-2008, respectively. The background facts of both the cases being same, these are heard together, and are being disposed of pera common, consolidated order for the sake of convenience. ITA Nos.870& 884 /Coch/2022 (AY 2007-08) Ajit

SRI.PELEXY K. VARGHESE,MUVATTUPUZHA vs. THE DCIT, COCHIN

In the result, the appeals filed by the assessee in ITA Nos

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

House, Income-tax, Circle-1, Ernakulam. Mekkadambu P.O., Muvattupuzha. [PAN:ADOPV 2015D] (Assessee-Appellant) (Revenue-Respondent) Assessee by Shri T.M. Sreedharan, Sr. Adv. and Smt. Divya Ravindran, Adv. Revenue by Shri Sudhanshu Shekhar Jha, CIT(DR) Date of hearing 10/04/2019 Date of pronouncement 30/04/2019 O R D E R Per CHANDRA POOJARI, AM: These appeals filed by the assessee

SRI.PELEXY K. VARGHESE,MUVATTUPUZHA vs. THE DCIT, ERNAKULAM

In the result, the appeals filed by the assessee in ITA Nos

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

House, Income-tax, Circle-1, Ernakulam. Mekkadambu P.O., Muvattupuzha. [PAN:ADOPV 2015D] (Assessee-Appellant) (Revenue-Respondent) Assessee by Shri T.M. Sreedharan, Sr. Adv. and Smt. Divya Ravindran, Adv. Revenue by Shri Sudhanshu Shekhar Jha, CIT(DR) Date of hearing 10/04/2019 Date of pronouncement 30/04/2019 O R D E R Per CHANDRA POOJARI, AM: These appeals filed by the assessee

SRI.PELEXY K. VARGHESE,MUVATTUPUZHA vs. THE DCIT, COCHIN

In the result, the appeals filed by the assessee in ITA Nos

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

House, Income-tax, Circle-1, Ernakulam. Mekkadambu P.O., Muvattupuzha. [PAN:ADOPV 2015D] (Assessee-Appellant) (Revenue-Respondent) Assessee by Shri T.M. Sreedharan, Sr. Adv. and Smt. Divya Ravindran, Adv. Revenue by Shri Sudhanshu Shekhar Jha, CIT(DR) Date of hearing 10/04/2019 Date of pronouncement 30/04/2019 O R D E R Per CHANDRA POOJARI, AM: These appeals filed by the assessee