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.

68 since creditworthiness of the lenders as well as the genuineness of the loans ITA Nos.580 to 586/Coch/2022 were not established by the assessee. In reply to question no.134, the assessee submitted that his commission will be percentage of supply say 25% or 30% and the rest would be loan. 3.13 Credits from other accounts Similar pattern of cash deposit

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.

68 since creditworthiness of the lenders as well as the genuineness of the loans ITA Nos.580 to 586/Coch/2022 were not established by the assessee. In reply to question no.134, the assessee submitted that his commission will be percentage of supply say 25% or 30% and the rest would be loan. 3.13 Credits from other accounts Similar pattern of cash deposit

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.

68 since creditworthiness of the lenders as well as the genuineness of the loans ITA Nos.580 to 586/Coch/2022 were not established by the assessee. In reply to question no.134, the assessee submitted that his commission will be percentage of supply say 25% or 30% and the rest would be loan. 3.13 Credits from other accounts Similar pattern of cash deposit

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.

68 since creditworthiness of the lenders as well as the genuineness of the loans ITA Nos.580 to 586/Coch/2022 were not established by the assessee. In reply to question no.134, the assessee submitted that his commission will be percentage of supply say 25% or 30% and the rest would be loan. 3.13 Credits from other accounts Similar pattern of cash deposit

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.

68 since creditworthiness of the lenders as well as the genuineness of the loans ITA Nos.580 to 586/Coch/2022 were not established by the assessee. In reply to question no.134, the assessee submitted that his commission will be percentage of supply say 25% or 30% and the rest would be loan. 3.13 Credits from other accounts Similar pattern of cash deposit

POTTOLIL AGRO MILLS,PERUMBAVOOR vs. INCOME TAX OFFICER, ALUVA

In the result, the appeal of the assessee bearing ITA No

deposits. As per this section, where the total income includes any income\nreferred to in section 68, 69, 69A, 69B, 69C or section 69D of the I.T Act, the income\ntax payable shall be charged @ 60% plus surcharge @ 25% of such tax.”\n4.\nThe Ld. DR argued & relied on the order of the revenue\nauthorities.\n5.\nWe have carefully considered

SRI.SUDHEESH KUMAR K,ALAPPUZHA vs. THE ITO,WD-4, ALAPPUZHA

In the result, appeal of the assessee is allowed

Bench: S/Shri Chandra Poojari, Am & George George K., Jm Assessment Year: 2013-14

68 of the Income Tax Act. 2. The learned officers ought to have accepted the fact that the Assessing Officer had taken a statement from the appellant's wife, wherein she had admitted that cash belonging to her had been deposited in the bank account of the appellant. I.T.A. No.423/ Coch/2019 3) The learned officers below ought to have accepted

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)

68 to 69D. 4.9 The provisions of 115BBE taxing certain types of income @ 60% were brought on statute by Finance Act, 2017 after demonization, after introduction of prevention of Black Money (Undisclosed foreign income & assets) Act; Prohibition of Benami Property Transactions Act, etc., with a view to curb the mischief of subsequently disclosing the undisclosed cash/entries/assets of earlier years

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)

68 to 69D. 4.9 The provisions of 115BBE taxing certain types of income @ 60% were brought on statute by Finance Act, 2017 after demonization, after introduction of prevention of Black Money (Undisclosed foreign income & assets) Act; Prohibition of Benami Property Transactions Act, etc., with a view to curb the mischief of subsequently disclosing the undisclosed cash/entries/assets of earlier years

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. VALSALA RAJ, PATHANAMTHITTA

In the result, the appeals filed by the Revenue stand dismissed

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

cash deposits under Section 68 of the I.T. Act, the authorities below had also rejected the explanation given by the assessee

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. VALSALA RAJ, PATHANAMTHITTA

In the result, the appeals filed by the Revenue stand dismissed

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

cash deposits under Section 68 of the I.T. Act, the authorities below had also rejected the explanation given by the assessee

SRI.THOMAS EAPEN,ALAPPUZHA vs. THE ITO, WD-5, ALAPPUZHA

In the result, the appeal of the assessee is allowed

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

section 68 of the 27,94,306 Unexplained cash deposit in Act Bank 2. Undisclosed profit 3,14,953 Profit

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

cash credit u/s. 68, deduction u/s. 80P is available to the appellant as per CBDT Circular No.37/2016 dated 02/11/2016. 8.1 The first ground for both the assessment years does not require adjudication as we have already remitted the issue in dispute to the file of the Assessing Officer for fresh consideration. 8.2 Regarding addition u/s. 68

M/S.PERRORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

cash credit u/s. 68, deduction u/s. 80P is available to the appellant as per CBDT Circular No.37/2016 dated 02/11/2016. 8.1 The first ground for both the assessment years does not require adjudication as we have already remitted the issue in dispute to the file of the Assessing Officer for fresh consideration. 8.2 Regarding addition u/s. 68

THE ITO, TRIVANDRUM vs. M/S.PERRORKADA SERVICE CO-OP BANK LTD, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

cash credit u/s. 68, deduction u/s. 80P is available to the appellant as per CBDT Circular No.37/2016 dated 02/11/2016. 8.1 The first ground for both the assessment years does not require adjudication as we have already remitted the issue in dispute to the file of the Assessing Officer for fresh consideration. 8.2 Regarding addition u/s. 68

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

cash credit u/s. 68, deduction u/s. 80P is available to the appellant as per CBDT Circular No.37/2016 dated 02/11/2016. 8.1 The first ground for both the assessment years does not require adjudication as we have already remitted the issue in dispute to the file of the Assessing Officer for fresh consideration. 8.2 Regarding addition u/s. 68

M/S.PERRORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

cash credit u/s. 68, deduction u/s. 80P is available to the appellant as per CBDT Circular No.37/2016 dated 02/11/2016. 8.1 The first ground for both the assessment years does not require adjudication as we have already remitted the issue in dispute to the file of the Assessing Officer for fresh consideration. 8.2 Regarding addition u/s. 68

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. VARUN RAJ, PATHANAMTHITTA

In the result, the appeals filed by the Revenue and the cross objections of the assessee stand dismissed

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

cash deposits under Section 68 of the I.T. Act, the authorities below had also rejected the explanation given by the assessee