THE TRIVANDRUM EMPLOYEES CO-OPERATIVE SOCIETY LIMITED NO. 43,TRIVANDRUM vs. THE ADDITIONAL JOINT DEPUTY ASSISTANT COMMISSIONER OF INCOME TAX, KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

establish that the interest income earned by the assessee is from a Co-operative Society. As a matter of fact, in the case on hand, there is no dispute that it is not from a Co- operative Society registered under Kerala Co-operative Societies Act. The interest income earned from District Co-operative Bank/State Co-operative Bank, in the facts

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

SRI.K.RAVINDRANATHAN NAIR,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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

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

68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits to sister concerns which are enjoying tax exemptions and the seller incurring huge loss in the process, is on the assessee. According to the CIT(A), where a trader charges less than

M/S.IBS SOFTWARE SERVICES P. LTD,TRIVANDRUM vs. THE DCIT, TRIVANDRUM

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

68,911/- The Assessee has now preferred the present appeal challenging Final Assessment Order. The Assessee has raised 17 Grounds of Appeal which are taken up in seriatim hereinafter. Ground No.1 3. Ground No.1 raised by the Assessee reads as under: “1. That the order of the learned Assistant Commissioner of Income-tax, Circle 1(1), Thiruvananthapuram (Assessing Officer

SRI.E.UMMER BAVA,MALAPPURAM vs. THE ACIT, TIRUR

In the result, the appeal of the assessee is dismissed

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

Section 68 of the Act requires an assessee to prove the credits appearing in his books of account, as to the nature and source of such amounts, so that if the explanation furnished is not satisfactory, the Assessing Officer can treat it as the assessee’s income. The assessee is required to prove three important conditions namely, (i) the identity

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.

Permanent Account Numbers (PAN) and subjected to separate assessments. It could be seen that the present assessee does not hold any position in the management and control of majority of the firms / corporate entities of Sreevalsam Group. 3.4 Post search operations, notices u/s 153A was issued to the assessee on 03.08.2018. The assessee filed return of income on 01.12.2018 declaring

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.

Permanent Account Numbers (PAN) and subjected to separate assessments. It could be seen that the present assessee does not hold any position in the management and control of majority of the firms / corporate entities of Sreevalsam Group. 3.4 Post search operations, notices u/s 153A was issued to the assessee on 03.08.2018. The assessee filed return of income on 01.12.2018 declaring

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.

Permanent Account Numbers (PAN) and subjected to separate assessments. It could be seen that the present assessee does not hold any position in the management and control of majority of the firms / corporate entities of Sreevalsam Group. 3.4 Post search operations, notices u/s 153A was issued to the assessee on 03.08.2018. The assessee filed return of income on 01.12.2018 declaring