SMT.ASHA MENON( ASHA SUNIL),COCHIN vs. THE ACIT(CEN,CIRCLE, ERNAKULAM

In the result, the appeals of the assessee in ITA Nos

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

deposit of Rs 15,04,891 are explained in the statement of cash flow. That there is no deficiency of Rs 11,69,800/- as given in the assessment order and that the statement of Net wealth was also filed. d) Because the Hon’ble High Court ought to have considered the fact that for the assessment year

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

In the result, the appeals of the assessee in ITA Nos

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

deposit of Rs 15,04,891 are explained in the statement of cash flow. That there is no deficiency of Rs 11,69,800/- as given in the assessment order and that the statement of Net wealth was also filed. d) Because the Hon’ble High Court ought to have considered the fact that for the assessment year

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

In the result, the appeals of the assessee in ITA Nos

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

deposit of Rs 15,04,891 are explained in the statement of cash flow. That there is no deficiency of Rs 11,69,800/- as given in the assessment order and that the statement of Net wealth was also filed. d) Because the Hon’ble High Court ought to have considered the fact that for the assessment year

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

In the result, the appeals of the assessee in ITA Nos

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

deposit of Rs 15,04,891 are explained in the statement of cash flow. That there is no deficiency of Rs 11,69,800/- as given in the assessment order and that the statement of Net wealth was also filed. d) Because the Hon’ble High Court ought to have considered the fact that for the assessment year

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

In the result, the appeals of the assessee in ITA Nos

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

deposit of Rs 15,04,891 are explained in the statement of cash flow. That there is no deficiency of Rs 11,69,800/- as given in the assessment order and that the statement of Net wealth was also filed. d) Because the Hon’ble High Court ought to have considered the fact that for the assessment year

SMT.ASHA MENON( ASHA SUNIL),COCHIN vs. THE DCIT, ERNAKULAM

In the result, the appeals of the assessee in ITA Nos

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

deposit of Rs 15,04,891 are explained in the statement of cash flow. That there is no deficiency of Rs 11,69,800/- as given in the assessment order and that the statement of Net wealth was also filed. d) Because the Hon’ble High Court ought to have considered the fact that for the assessment year

SMT.ASHA MENON( ASHA SUNIL),COCHIN vs. THE ACIT(CEN,CIRCLE, ERNAKULAM

In the result, the appeals of the assessee in ITA Nos

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

deposit of Rs 15,04,891 are explained in the statement of cash flow. That there is no deficiency of Rs 11,69,800/- as given in the assessment order and that the statement of Net wealth was also filed. d) Because the Hon’ble High Court ought to have considered the fact that for the assessment year

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

In the result, the appeals of the assessee in ITA Nos

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

deposit of Rs 15,04,891 are explained in the statement of cash flow. That there is no deficiency of Rs 11,69,800/- as given in the assessment order and that the statement of Net wealth was also filed. d) Because the Hon’ble High Court ought to have considered the fact that for the assessment year

INDIRA GANDHI MEMORIAL TRUST,NELLIKUZHY P.O vs. JOINT COMMISSIONER OF INCOME TAX (EXEMPTIONS), ERNAKULAM

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

u/s 271 D of the Act.In the earlier appeal penalty was levied for receiving the deposits in cash but in the present

INDIRA GANDHI MEMORIAL TRUST,NELLIKUZHY, KOTHAMANGALAM vs. JOINT COMMISSIONER OF INCOME TAX(EXEMPTION), ERNAKULAM

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

u/s 271 D of the Act.In the earlier appeal penalty was levied for receiving the deposits in cash but in the present

THE SULTHAN BATHERY SERVICE CO-OP BANK LTD,WAYANAD vs. THE JCIT RANGE 2, KOZHIKODE

In the result, both the appeals in ITA Nos

Bench: Shri Chandra Poojari & Shri Soundararajan K.

cash, without considering the circumstances pertaining in the locality, where the business of the society is carried out. 5. The Ld. CIT(A) erred by confirming penalty in respect of deposit accepted to Govt. The Sec 269SS clearly stated that these section is not applicable in respect of deposits/loan accepted from Govt. and hence penalty is not leviable u/s

THE SULTHAN BATHERY SERVICE CO-OP BANK LTD,WAYANAD vs. THE JCIT RANGE 2, KOZHIKODE

In the result, both the appeals in ITA Nos

Bench: Shri Chandra Poojari & Shri Soundararajan K.

cash, without considering the circumstances pertaining in the locality, where the business of the society is carried out. 5. The Ld. CIT(A) erred by confirming penalty in respect of deposit accepted to Govt. The Sec 269SS clearly stated that these section is not applicable in respect of deposits/loan accepted from Govt. and hence penalty is not leviable u/s

MS.KALLIYATH CYRIL RAJU,COCHIN vs. THE DCIT, COCHIN

In the result, the appeals filed by the assessee are allowed

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

cash kept with the Department at R.10,49,610/- and the same was adjusted. The assessee had filed the original return of income u/s. 139 of the Act on 30/08/2010 declaring a total income of Rs.8,32,870/- for the assessment year 2010-11. Thus, offering an additional income of Rs.1,94,910/- on account of search. The assessment u/s

M/S. THE THIRUNELLY SERVICE CO-OPERATIVE BANK,WAYANAD vs. JCIT, RANGE-2, KOZHIKODE

In the result, appeal filed by the assessee stands dismissed

u/s. 271D, no penalty can be levied placing reliance on the decision of Hon'ble Supreme Court in the case of case of CIT Vs. Jai Laxmi Rice Mills (2015) 379 ITR 521 (SC). 9. On the other hand, ld. CIT-DR placing reliance on the decision of this Tribunal in the case of The Nadapuram Service Co-op. Bank

M/S. THE THIRUNELLY CO-OPERATIVE BANKLTD.,WAYANAD vs. JCIT RANGE-2, KOZHIKODE

In the result, appeal filed by the assessee stands dismissed

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

u/s. 271D, no penalty can be levied placing reliance on the decision of Hon'ble Supreme Court in the case of case of CIT Vs. Jai Laxmi Rice Mills (2015) 379 ITR 521 (SC). 9. On the other hand, ld. CIT-DR placing reliance on the decision of this Tribunal in the case of The Nadapuram Service Co-op. Bank

PANAMARAM SERVICE CO-OPERATIVE BANK LTD,PANAMARAM vs. JCIT, RANGE-2, KOZHIKODE

In the result, appeal filed by the assessee stands dismissed

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

u/s. 271D & 271E for the reasons that there were no banks operating in and around Wayanad district. Thus, there was a reasonable cause for accepting deposits from members for repaying the deposits in cash. After Panamaram Service Co-op. Bank Ltd. considering the written submission we proceed to dispose of the appeal after hearing the learned

PANAMARAM SERVICE CO-OPERATIVE BANK LTD,PANAMARAM, WAYANAD vs. JCIT, RANGE-2, KOZHIKODE

In the result, appeal filed by the assessee stands dismissed

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

u/s. 271D & 271E for the reasons that there were no banks operating in and around Wayanad district. Thus, there was a reasonable cause for accepting deposits from members for repaying the deposits in cash. After Panamaram Service Co-op. Bank Ltd. considering the written submission we proceed to dispose of the appeal after hearing the learned

SRI.JOY K.V.,TRICHUR vs. THE ACIT, CIR-2(1), RG-2, TRICHUR

In the result, the appeal filed by the assessee is allowed and the Stay

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.207 /Coch/2018 Assessment Year : 2000-01 Shri K.V. Joy, Vs. The Assistant Commissioner Of Koonan House, Mission Quarters, Income-Tax, Circle-2(1), Thrissur-680 01. Range-2, Thrissur [Pan : Aqspk 9358H]

penalty of Rs.4,600/- u/s. 271(1)(c) of the Act. 3. On appeal, the CIT(A) observed that concrete information procured from Enforcement Directorate and CBI wing of the Department was available with Assessing Officer regarding routing of money. The CIT(A) observed that it was I.T.A. No.207/C/2018 & SP No.22/C/2018 hard to believe that the assessee was not aware