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

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

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 the rival submissions and\nexamined the material available on record. The brief facts of the\ncase

INCOME TAX OFFICER, WARD-1, KOTTAYAM vs. SUNITHA MENON, KOTTAYAM

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

demonetized notes collected by the assessee from its members would not be hit by the provisions of section 68 of the Act in the facts

UDAYABHANU JANARDHANAN,KOLLAM vs. INCOME TAX OFFICER, WARD - 4 , KOLLAM, KOLLAM

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

Bench: Shri Inturi Rama Rao & Shri Soundararajan K.Assessment Year : 2017-18

section 68 of the IT Act 0 are not applicable to the appellant's case The Commissioner of Income tax (Appeals) has erred in confirming the addition of Rs.681900/- in the facts 5 526768 and circumstances of the case. The addition is purely estimated, arbitrary and without any basis The Commissioner of Income tax (Appeals) has grossly erred in concluding

SULPHI SAINUDEEN SUNJU,ALAPPUZHA vs. THE ITO WARD 1 & TPS, ALAPPUZHA, ALAPPUZHA

In the result, the assessee’s appeal is dismissed

Bench: Smt. Beena Pillai & Ms. Padmavathy S.Assessment Year : 2017-18

68 and accordingly should have been taxed u/s. 115BBE. To this extent, the PCIT was of the opinion that the order is erroneous and prejudicial to the interests of the revenue. The assessee submitted that the AO has taken a definite stand that the income is assessable under the head profits & gains of business or profession and such an inference