FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

business which earns income that is free from tax, assessee is not entitled to deduction of such interest or other expenditure. The Hon’ble Court extracted provisions of section 14A, with sub-clauses (2) and (3) and the proviso: "Section 14A. (1) For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

business which earns income that is free from tax, assessee is not entitled to deduction of such interest or other expenditure. The Hon’ble Court extracted provisions of section 14A, with sub-clauses (2) and (3) and the proviso: "Section 14A. (1) For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

business which earns income that is free from tax, assessee is not entitled to deduction of such interest or other expenditure. The Hon’ble Court extracted provisions of section 14A, with sub-clauses (2) and (3) and the proviso: "Section 14A. (1) For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

business which earns income that is free from tax, assessee is not entitled to deduction of such interest or other expenditure. The Hon’ble Court extracted provisions of section 14A, with sub-clauses (2) and (3) and the proviso: "Section 14A. (1) For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

business which earns income that is free from tax, assessee is not entitled to deduction of such interest or other expenditure. The Hon’ble Court extracted provisions of section 14A, with sub-clauses (2) and (3) and the proviso: "Section 14A. (1) For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

business which earns income that is free from tax, assessee is not entitled to deduction of such interest or other expenditure. The Hon’ble Court extracted provisions of section 14A, with sub-clauses (2) and (3) and the proviso: "Section 14A. (1) For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect

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)

business of making ornaments and gold jewelry, and that the assessee, his employee, was carrying cash (Rs.77.10 lakhs) to Kerala for purchase of gold there-from. Further, that several people, the list of which is attached, are his clients, who had approached him on 1/7/2016 with cash for purchasing gold. That is, the story gets a fresh turn once again

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)

business of making ornaments and gold jewelry, and that the assessee, his employee, was carrying cash (Rs.77.10 lakhs) to Kerala for purchase of gold there-from. Further, that several people, the list of which is attached, are his clients, who had approached him on 1/7/2016 with cash for purchasing gold. That is, the story gets a fresh turn once again

REENA ENGINEERS AND CONTRACTORS PRIVATE LTD,PANAJI vs. ACIT, CENTRAL CIRCLE-1, CALICUT

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

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

reassess such income for such assessment year. Further, section 147 makes it very clear that in order to invoke provisions of section 147, there should be income which has escaped assessment, and such escapement should be based on fresh tangible material which comes to the possession of the Assessing Officer subsequent to the completion of the original assessment and further

REENA ENGINEERS AND CONTRACTORS PRIVATE LTD,PANAJI vs. ACIT, CENTRAL CIRCLE-1, CALICUT

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

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

reassess such income for such assessment year. Further, section 147 makes it very clear that in order to invoke provisions of section 147, there should be income which has escaped assessment, and such escapement should be based on fresh tangible material which comes to the possession of the Assessing Officer subsequent to the completion of the original assessment and further

REENA ENGINEERS AND CONTRACTORS PRIVATE LTD,PANAJI vs. ACIT, CENTRAL CIRCLE-1, CALICUT

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

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

reassess such income for such assessment year. Further, section 147 makes it very clear that in order to invoke provisions of section 147, there should be income which has escaped assessment, and such escapement should be based on fresh tangible material which comes to the possession of the Assessing Officer subsequent to the completion of the original assessment and further

REENA ENGINEERS AND CONTRACTORS PRIVATE LTD,PANAJI vs. ACIT, CENTRAL CIRCLE-1, CALICUT

In the result, the appeals filed by the assessee stand partly allowed statistical purposes

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

reassess such income for such assessment year. Further, section 147 makes it very clear that in order to invoke provisions of section 147, there should be income which has escaped assessment, and such escapement should be based on fresh tangible material which comes to the possession of the Assessing Officer subsequent to the completion of the original assessment and further

PARISONS ESTATES AND INDUSTRIES PRIVATE LIMITED,CALICUT vs. ACIT CIRCLE 1(1), KOZHIKODE

In the result, the appeal filed by the assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri Soundararajan K.Assessment Year : 2009-10

reassessment be set aside.” 2. The brief facts of the case are that the assessee is a company engaged in the cultivation of tea plantations, manufacturing and sale of tea and trading of wheat and edible oils. During the assessment year, the assessee filed their return of income declaring a total income of Rs. 1,41,96,346/-. The case

REENA ENGINEERS AND CONTRACTORS PRIVATE LTD,PANAJI vs. ACIT, CENTRAL CIRCLE-1, CALICUT

reassess such income for such\n assessment year. Further, section 147 makes it very clear that in order to invoke\nprovisions of section 147, there should be income which has escaped assessment,\nand such escapement should be based on fresh tangible material which comes to the\npossession of the Assessing Officer subsequent to the completion of the original\nassessment

UKKANDATH DILEEPAN,PALLAPURAM vs. ITO INTERNATIONAL TAXATION, CALICUT

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

business income addition of Rs.28,90,077, reads as under:- “6. FINDINGS AND DECISION The grounds of appeal, statement of facts, the submissions made by the appellant in response to the hearing notices and the order of the Ld. AO have been carefully considered. The grounds of appeal are adjudicated as under. 6.1 The first four grounds of appeal relate

SRI UKKANDATH DILEEPAN,UROOB NAGAR, PALAPRAM vs. ACIT(OSD)INTERNATIONAL TAXATION, KOZHIKODE

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

business income addition of Rs.28,90,077, reads as under:- “6. FINDINGS AND DECISION The grounds of appeal, statement of facts, the submissions made by the appellant in response to the hearing notices and the order of the Ld. AO have been carefully considered. The grounds of appeal are adjudicated as under. 6.1 The first four grounds of appeal relate

KK RADHAKRISHNAN,KANNUR vs. DCIT CENTRAL CIRCLE 2, KOZHIKODE

In the result, appeal of the assessee is dismissed

business of sale and purchase of Indian made foreign liquor\n(IMFL). Based on this information, the DCIT, Central Circle-2,\nKozhikode (for short, 'AO') issued notices u/s. 153A of the Act on\n21/06/2013. The return of income for the A.Y. 2007-08 was filed on\n05/08/2013 declaring income of Rs.3,10,370/- and agricultural income

KK RADHAKRISHNAN,KANNUR vs. DCIT CENTRAL CIRCLE 2, KOZHIKODE

In the result, appeal of the assessee is dismissed

business of sale and purchase of Indian made foreign liquor\n(IMFL). Based on this information, the DCIT, Central Circle-2,\nKozhikode (for short, 'AO') issued notices u/s. 153A of the Act on\n21/06/2013. The return of income for the A.Y. 2007-08 was filed on\n05/08/2013 declaring income of Rs.3,10,370/- and agricultural income

K.K.RADHAKRISHNAN,KANNUR vs. DCIT, KOZHIKKODE

In the result, appeal of the assessee is dismissed

business of sale and purchase of Indian made foreign liquor\n(IMFL). Based on this information, the DCIT, Central Circle-2,\nKozhikode (for short, 'AO') issued notices u/s. 153A of the Act on\n21/06/2013. The return of income for the A.Y. 2007-08 was filed on\n05/08/2013 declaring income of Rs.3,10,370/- and agricultural income