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

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

10 of 1949). The Assessing Officer should have called for details of deposits and anyalysed identity, genuineness and creditworthiness of the same. Even if the benefit of section 80P(4) of the Act is available to Primary Agricultural Co-operative Society, this does not imply that eligibility u/s. 80P(2) automatically flows to the assessee which

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

10 of 1949). The Assessing Officer should have called for details of deposits and anyalysed identity, genuineness and creditworthiness of the same. Even if the benefit of section 80P(4) of the Act is available to Primary Agricultural Co-operative Society, this does not imply that eligibility u/s. 80P(2) automatically flows to the assessee which

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

10 of 1949). The Assessing Officer should have called for details of deposits and anyalysed identity, genuineness and creditworthiness of the same. Even if the benefit of section 80P(4) of the Act is available to Primary Agricultural Co-operative Society, this does not imply that eligibility u/s. 80P(2) automatically flows to the assessee which

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

10 of 1949). The Assessing Officer should have called for details of deposits and anyalysed identity, genuineness and creditworthiness of the same. Even if the benefit of section 80P(4) of the Act is available to Primary Agricultural Co-operative Society, this does not imply that eligibility u/s. 80P(2) automatically flows to the assessee which

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

10 of 1949). The Assessing Officer should have called for details of deposits and anyalysed identity, genuineness and creditworthiness of the same. Even if the benefit of section 80P(4) of the Act is available to Primary Agricultural Co-operative Society, this does not imply that eligibility u/s. 80P(2) automatically flows to the assessee which

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

34,000 being 0.5% of the average tax free investments Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by Assessing Officer invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders all dated 23.1.2014, followed decision of the Hon’ble Kerala High Court in the case of CIT Vs. Catholic

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

34,000 being 0.5% of the average tax free investments Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by Assessing Officer invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders all dated 23.1.2014, followed decision of the Hon’ble Kerala High Court in the case of CIT Vs. Catholic

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

34,000 being 0.5% of the average tax free investments Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by Assessing Officer invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders all dated 23.1.2014, followed decision of the Hon’ble Kerala High Court in the case of CIT Vs. Catholic

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

34,000 being 0.5% of the average tax free investments Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by Assessing Officer invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders all dated 23.1.2014, followed decision of the Hon’ble Kerala High Court in the case of CIT Vs. Catholic

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

34,000 being 0.5% of the average tax free investments Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by Assessing Officer invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders all dated 23.1.2014, followed decision of the Hon’ble Kerala High Court in the case of CIT Vs. Catholic

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

34,000 being 0.5% of the average tax free investments Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by Assessing Officer invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders all dated 23.1.2014, followed decision of the Hon’ble Kerala High Court in the case of CIT Vs. Catholic

THE FEDERAL BANK LTD,ALUVA vs. THE ACIT, KOCHI

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

34,000 being 0.5% of the average tax free investments ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 3 of 28 Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by AO invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders

THE ACIT, KOCHI vs. M/S.FEDERAL BANK LTD, KOCHI

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

34,000 being 0.5% of the average tax free investments ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 3 of 28 Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by AO invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders

THE FEDERAL BANK LTD,ALUVA vs. THE ACIT, KOCHI

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

34,000 being 0.5% of the average tax free investments ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 3 of 28 Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by AO invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders

THE FEDERAL BANK LTD,ALUVA vs. THE ACIT, KOCHI

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

34,000 being 0.5% of the average tax free investments ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 3 of 28 Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by AO invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders

THE FEDERAL BANK LTD,ALUVA vs. THE ACIT, KOCHI

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

34,000 being 0.5% of the average tax free investments ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 3 of 28 Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by AO invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders

ACIT, KOCHI vs. FEDERAL BANK LTD, ALUVA

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

34,000 being 0.5% of the average tax free investments ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 3 of 28 Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by AO invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders

ACIT, KOCHI vs. FEDERAL BANK LTD, ALUVA

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

34,000 being 0.5% of the average tax free investments ITA Nos. 745 to 747/Coch/2019 ITA Nos. 33 to 35, 272 to 275, 309 to 311/Coch/2020 Page 3 of 28 Amount disallowed Rs.12,37,89,000 Rs.11,80,57,000 Rs.4,68,60,335 by AO invoking Rule 8D 4. On appeal by the Assessee, the CIT(A) by orders