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

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

SREEVALSAM HOTELS AND RESORTS PRIVATE LTD,RAJAVALSAM vs. ACIT, CENTRAL CIRCLE, KOLLAM

In the result, assessee’s appeal in ITA No

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

5 Other credits in bank accounts of assessee and 19.28 crores his family members Total 305.59 crores 7. The assessment was challenged before the CIT(A), who had confirmed the additions. On further appeal before the Tribunal, the Tribunal had deleted the addition made in respect of funds received by family members of Shri Rajendran Pillai and the group concerns

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

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. MONEYMUTTAM FINANCE, PATHANAMTHITTA

In the result, assessee’s cross objection stands allowed and appeal filed by the Revenue stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm Assessment Years: 2017-18

5 Other credits in bank accounts of assessee and 19.28 crores his family members Total 305.59 crores 7. The assessment was challenged before the CIT(A), who had confirmed the additions. On further appeal before the Tribunal, the Tribunal had deleted the addition made in respect of funds received by family members of Shri Rajendran Pillai and the group concerns

YENKEY ROLLER FLOUR MILLS,CALICUT vs. DCIT C-1(1), KOZHIKKODE

In the result, the appeal filed by the appellant stands allowed

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am

section 147 of Income Tax Act. 1961 in case of Yenkey Roller Flour Mills." 3 Yenkey Roller Flour Mills 3. The assessment was completed by the AO vide order dated 22.08.2014 passed u/s. 143(3) r.w.s. 147 of the Act at a total income of Rs. 49,43,261/-. While doing so, the AO made addition on account of bogus

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. ALLEBASI BUILDERS AND DEVELOPERS (P) LTD, ATTINGAL

In the result, appeal filed by the assessee stands allowed and Revenue’s appeal and assessee’s cross objection stand dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made

VRINDAVAN BUILDERS PVT KTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made

VRINDAVAN BUILDERS PVT LTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KERALA vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM vs. VRINDAVAN BUILDERS PRIVATE LIMITED, KERALA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made

VRINDAVAN BUILDERS PVT LTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

5,72,66,080/- were genuine and creditworthiness and identity of the parties was proved. Therefore, no addition is called for. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made