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

5) and section 80AC to deny such claims on the ground that, as per the provisions of section 80AC, where the assessee fails to make any claim in his return of income for any deduction under section 10A or section 10AA or section 10B or section 10BA or under any provision of this Chapter under the Head ‘C- Deductions

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

5) and section 80AC to deny such claims on the ground that, as per the provisions of section 80AC, where the assessee fails to make any claim in his return of income for any deduction under section 10A or section 10AA or section 10B or section 10BA or under any provision of this Chapter under the Head ‘C- Deductions

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

5) and section 80AC to deny such claims on the ground that, as per the provisions of section 80AC, where the assessee fails to make any claim in his return of income for any deduction under section 10A or section 10AA or section 10B or section 10BA or under any provision of this Chapter under the Head ‘C- Deductions

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

5) and section 80AC to deny such claims on the ground that, as per the provisions of section 80AC, where the assessee fails to make any claim in his return of income for any deduction under section 10A or section 10AA or section 10B or section 10BA or under any provision of this Chapter under the Head ‘C- Deductions

THE DCIT, COCHIN vs. M/S APPOLLO TYRES LTD, COCHIN

In the result, the appeal filed by the Revenue is allowed for statistical purposes

Bench: Shri George George K, Jm & Shri Manjunatha G, Am

5 para (f) of the CIT(A)’s order]. The CIT(A) further held that if the income assessed u/s 143(3) is reduced as per the order u/s 147, the interest u/s 234B can be levied only as per the provisions of section 234B(4) of the Act. The CIT(A) further held that since section 234B(4) does

M/S SANTHIMADOM AYURNIKETHAN HEALTH RESORT & RESEARCH INSTITUTE TRUST,KOCHI vs. ACIT CENTRAL CIRCLE -2, KOCHI

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

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

reassessment or recomputation exceeds the tax on the total income determined under sub-section (1) of section 143 or on the basis of the earlier assessment aforesaid. Explanation.—[* * *] (4) Where as a result of an order under section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section

M/S SANTHIMADOM AYURNIKETHAN HEALTH RESORT & RESEARCH INSTITUTE TRUST,ERNAKULAM vs. ACIT CENTRAL CIRCLE-2, KOCHI

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

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

reassessment or recomputation exceeds the tax on the total income determined under sub-section (1) of section 143 or on the basis of the earlier assessment aforesaid. Explanation.—[* * *] (4) Where as a result of an order under section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section

M/S SANTHIMADOM AYURNIKETHAN HEALTH RESORT & RESEARCH INSTITUTE TRUST,KOCHI vs. ACIT CENTRAL CIRCLE -2, KOCHI

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

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

reassessment or recomputation exceeds the tax on the total income determined under sub-section (1) of section 143 or on the basis of the earlier assessment aforesaid. Explanation.—[* * *] (4) Where as a result of an order under section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section

M/S SANTHIMADOM AYURNIKETHAN HEALTH RESORT & RESEARCH INSTITUTE TRUST,KOCHI vs. ACIT CENTRAL CIRCLE 2, KOCHI

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

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

reassessment or recomputation exceeds the tax on the total income determined under sub-section (1) of section 143 or on the basis of the earlier assessment aforesaid. Explanation.—[* * *] (4) Where as a result of an order under section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section

KERALA STATE CO-OPERATIVE BANK LTD,THIRUVANANTHAPURAM vs. DCIT,CIRCLE-1(1), THIRUVANANHAPURAM

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2018-19

4 of 14 5. In the above said notice, the AO had not specifically mentioned under which limb of the section 270A(2) and 270A(9) of the Act the penalties are proposed. In the said notice, the AO had made a general observation that the assessee has underreported as a consequence of misreporting the income but not specifically pointed

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case

SMT. T.C. USHA,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case

SRI.R. PRATAP,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case

SRI.R. PRATAP,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

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

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

4) Exchange rate variation. Accordingly, at least 10% allowance to account for such factors as composition of grades in the sales mix, quality of kernels, etc. and 5% allowance to cover Profit and indirect overheads of sister concern(s), if considered, then no addition is warranted.For this, reliance is placed on the decision of the Tribunal in the case