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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment J year beginning on or before the 1st day of April, 2001." The Hon’ble Court observed that sub-sections (2) and (3) were introduced to the main section

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment J year beginning on or before the 1st day of April, 2001." The Hon’ble Court observed that sub-sections (2) and (3) were introduced to the main section

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment J year beginning on or before the 1st day of April, 2001." The Hon’ble Court observed that sub-sections (2) and (3) were introduced to the main section

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment J year beginning on or before the 1st day of April, 2001." The Hon’ble Court observed that sub-sections (2) and (3) were introduced to the main section

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment J year beginning on or before the 1st day of April, 2001." The Hon’ble Court observed that sub-sections (2) and (3) were introduced to the main section

ACIT, ERNAKULAM vs. APPOLO TYRES LTD, COCHIN

In the result, the Revenue’s appeals as well as the Assessee’s COs, are allowed

Bench: Shri Sanjay Arora & Shri Manomohan Das

39 of 1970). (2) No deduction shall be allowed in respect of the expenditure mentioned in clause (1) under any other provision of this Act. (3) No company shall be entitled for deduction under clause (1) unless it enters into an agreement with the prescribed authority for co-operation in such research and development facility and for audit of accounts

ACIT, ERNAKULAM vs. APPOLO TYRES LTD, COCHIN

In the result, the Revenue’s appeals as well as the Assessee’s COs, are allowed

Bench: Shri Sanjay Arora & Shri Manomohan Das

39 of 1970). (2) No deduction shall be allowed in respect of the expenditure mentioned in clause (1) under any other provision of this Act. (3) No company shall be entitled for deduction under clause (1) unless it enters into an agreement with the prescribed authority for co-operation in such research and development facility and for audit of accounts

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)

39,57,500 found on them, seized. The three deposed before the Excise officials, giving mutually consistent statements, i.e., of Rs.162.475 lakhs belonging to Shri Sravan Neela Kumar, one of the three persons, and the balance Rs.77.10 lakhs to the assessee, who further claimed the sum as belonging to his employer, Shri D. Ramesh, a Hyderabad based trader in gold/gold

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)

39,57,500 found on them, seized. The three deposed before the Excise officials, giving mutually consistent statements, i.e., of Rs.162.475 lakhs belonging to Shri Sravan Neela Kumar, one of the three persons, and the balance Rs.77.10 lakhs to the assessee, who further claimed the sum as belonging to his employer, Shri D. Ramesh, a Hyderabad based trader in gold/gold

M.K RAJENDRAN PILLAI,PATHANAMTHITTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM

In the result the appeals for AYs 2012-13 to 2017-18 stand partly allowed whereas the appeal for AY 2018-19 stands allowed on legal grounds in terms of our above order

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M. & Hon’Ble Shri Manoj Kumar Aggarwal, A.M.

39% in a partnership concern namely M/s Money Muttam Finance and do not have any other business interest in any other concerns of the group except shareholding to the extent of approx. 11% & 15% respectively in M/s Mooneymuttathu Nidhi Ltd. & M/s Allebasi Builders & Developers (P) Ltd. The assessee’s wife Smt. Valsala Raj is partner in various partnership firms

M.K RAJENDRAN PILLAI,PATHANAMTHITTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM

In the result the appeals for AYs 2012-13 to 2017-18 stand partly allowed whereas the appeal for AY 2018-19 stands allowed on legal grounds in terms of our above order

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M. & Hon’Ble Shri Manoj Kumar Aggarwal, A.M.

39% in a partnership concern namely M/s Money Muttam Finance and do not have any other business interest in any other concerns of the group except shareholding to the extent of approx. 11% & 15% respectively in M/s Mooneymuttathu Nidhi Ltd. & M/s Allebasi Builders & Developers (P) Ltd. The assessee’s wife Smt. Valsala Raj is partner in various partnership firms

M.K RAJENDRAN PILLAI,PATHANAMTHITTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM

In the result the appeals for AYs 2012-13 to 2017-18 stand partly allowed whereas the appeal for AY 2018-19 stands allowed on legal grounds in terms of our above order

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M. & Hon’Ble Shri Manoj Kumar Aggarwal, A.M.

39% in a partnership concern namely M/s Money Muttam Finance and do not have any other business interest in any other concerns of the group except shareholding to the extent of approx. 11% & 15% respectively in M/s Mooneymuttathu Nidhi Ltd. & M/s Allebasi Builders & Developers (P) Ltd. The assessee’s wife Smt. Valsala Raj is partner in various partnership firms

M.K RAJENDRAN PILLAI,PATHANAMTHITTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM

In the result the appeals for AYs 2012-13 to 2017-18 stand partly allowed whereas the appeal for AY 2018-19 stands allowed on legal grounds in terms of our above order

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M. & Hon’Ble Shri Manoj Kumar Aggarwal, A.M.

39% in a partnership concern namely M/s Money Muttam Finance and do not have any other business interest in any other concerns of the group except shareholding to the extent of approx. 11% & 15% respectively in M/s Mooneymuttathu Nidhi Ltd. & M/s Allebasi Builders & Developers (P) Ltd. The assessee’s wife Smt. Valsala Raj is partner in various partnership firms

M.K RAJENDRAN PILLAI,PATHANAMTHITTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM

In the result the appeals for AYs 2012-13 to 2017-18 stand partly allowed whereas the appeal for AY 2018-19 stands allowed on legal grounds in terms of our above order

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M. & Hon’Ble Shri Manoj Kumar Aggarwal, A.M.

39% in a partnership concern namely M/s Money Muttam Finance and do not have any other business interest in any other concerns of the group except shareholding to the extent of approx. 11% & 15% respectively in M/s Mooneymuttathu Nidhi Ltd. & M/s Allebasi Builders & Developers (P) Ltd. The assessee’s wife Smt. Valsala Raj is partner in various partnership firms

M.K RAJENDRAN PILLAI,PATHANAMTHITTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM

In the result the appeals for AYs 2012-13 to 2017-18 stand partly allowed whereas the appeal for AY 2018-19 stands allowed on legal grounds in terms of our above order

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M. & Hon’Ble Shri Manoj Kumar Aggarwal, A.M.

39% in a partnership concern namely M/s Money Muttam Finance and do not have any other business interest in any other concerns of the group except shareholding to the extent of approx. 11% & 15% respectively in M/s Mooneymuttathu Nidhi Ltd. & M/s Allebasi Builders & Developers (P) Ltd. The assessee’s wife Smt. Valsala Raj is partner in various partnership firms

M.K RAJENDRAN PILLAI,PATHANAMTHITTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM

In the result the appeals for AYs 2012-13 to 2017-18 stand partly allowed whereas the appeal for AY 2018-19 stands allowed on legal grounds in terms of our above order

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M. & Hon’Ble Shri Manoj Kumar Aggarwal, A.M.

39% in a partnership concern namely M/s Money Muttam Finance and do not have any other business interest in any other concerns of the group except shareholding to the extent of approx. 11% & 15% respectively in M/s Mooneymuttathu Nidhi Ltd. & M/s Allebasi Builders & Developers (P) Ltd. The assessee’s wife Smt. Valsala Raj is partner in various partnership firms

POPULAR MOTORWORLD PRIVATE LIMITED,ERNAKULAM vs. INCOME TAX OFFICER, CORPORATE WARD 2(5), KOCHI

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

reassessment proceedings were initiated on the basis of tangible material. 5. On perusal of the record it emerges that assessment under Section 143(3) of the Act was framed on the Assessee vide Assessment Order, dated 28/12/2016. Subsequently, the Assessing Officer recorded the following reasons for reopening the assessment: “(a) Subsequently on verifying the records it was found that

UNNIKRISHNAN. K,KUNNAMPALLY vs. THE ITO WARD 2, TIRUR

In the result, the assessee’s appeal is allowed on the aforesaid terms, and his stay petition dismissed

Bench: Shri Sanjay Arora & Dr. Seethalakshmi

39,182 Add:1. Addition made in the original order u/s 143(3) on a/c. Rs.1,45,41,362 of sale of retail lottery tickets which is set aside by the Hon'ble ITAT to the file of CIT(A) vide order in ITA No. 455/416/Coch/2015 dtd. 22-01-2016 2. Addition on account of temporary loan