M/S PAZHAYANGADI G GOLD,KANNUR vs. ITO WARD 1 & TPS, KANNUR

In the result, the appeal by the assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhailassessment Year : 2018-19 Pazhayangadi G Gold, Ito, Ward-1& Tps, Eazhome Pazhayangadi, Kannur Kannur-670303 Vs. Pan : Aaufp9485G (Appellant) (Respondent) For Assessee : Shri Arun Raj S. Adv. For Revenue : Shri Sanjit Kumar Das, Cit-Dr (Heard In Hybrid Bench) Date Of Hearing : 25-03-2025 Date Of Pronouncement : 27-05-2025 O R D E R

15. In any case, it is pertinent to note that the provisions of section 271AAC of the Act mandate the levy of a penalty where the income determined, inter-alia, includesany income referred to in section 68 of the Act. Further, it is pertinent to note that, unlike section 271(1

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

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are available with the Assessee. It was submitted that the Assessee had sufficient interest funds. It was submitted that even where the Assessee had mixed funds made up of own interest free funds

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are available with the Assessee. It was submitted that the Assessee had sufficient interest funds. It was submitted that even where the Assessee had mixed funds made up of own interest free funds

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are available with the Assessee. It was submitted that the Assessee had sufficient interest funds. It was submitted that even where the Assessee had mixed funds made up of own interest free funds

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are available with the Assessee. It was submitted that the Assessee had sufficient interest funds. It was submitted that even where the Assessee had mixed funds made up of own interest free funds

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are available with the Assessee. It was submitted that the Assessee had sufficient interest funds. It was submitted that even where the Assessee had mixed funds made up of own interest free funds

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

68 (Del)  Infrastructure Logistics P Ltd. 141 Taxmann.com 24 (Panaji)(ITAT) (ii) It was further submitted that interest expenditure cannot be disallowed when sufficient interest free funds are available with the Assessee. It was submitted that the Assessee had sufficient interest funds. It was submitted that even where the Assessee had mixed funds made up of own interest free funds

M/S.APOLLO TYRES LTD,COCHIN vs. THE PRINCIPAL COMMISSIONER OF INCOMETAX, COCHIN

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

Bench: Shri Inturi Rama Rao, Am & Shri Rahul Chaudhary, Jm Assessment Year: 2013-14 Apollo Tyres Ltd. .......... Appellant 3Rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036 [Pan: Aaaca6990Q] Vs. Dcit, Corporate Circle-1(1), Kochi ......... Respondent Assessee By: Shri Abraham Joseph Markos, Adv. Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 20.08.2025 Date Of Pronouncement: 01.09.2025

68,42,880/- towards Salary and other R&D expenses within the scope of "Fee for technical Services under explanation 2 of section 9(1)(vii)of Income Tax Act and liable for TDS. 5.2 The Ld AO erred in not appreciating that the assessee company has made payment of Rs 1,07,08,950/- for clinical trials majorly

M/S JEEVAN TELECASTING CORPN LTD,COCHIN vs. ACIT, COCHIN

In the result, ITA Nos.606 to 610/Coch/2010 are partly allowed and ITA Nos

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

68,950 Total Rs.5,80,287 2005-06 Tax Rs.2,79,926 Tax Rs.4,15,203 As per schedule Interest Rs.96,719 Interest Rs.85,560 Total Rs.3,76,645 Total Rs.5,03,763 2006-07 Tax Rs.1,70,040 Tax Rs.1,70,040 As per schedule Interest Rs.85,560 Interest Rs.78,436 Total Rs.2,55,600 Total Rs.2

M/S JEEVAN TELECASTING CORPN LTD,COCHIN vs. ACIT, COCHIN

In the result, ITA Nos.606 to 610/Coch/2010 are partly allowed and ITA Nos

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

68,950 Total Rs.5,80,287 2005-06 Tax Rs.2,79,926 Tax Rs.4,15,203 As per schedule Interest Rs.96,719 Interest Rs.85,560 Total Rs.3,76,645 Total Rs.5,03,763 2006-07 Tax Rs.1,70,040 Tax Rs.1,70,040 As per schedule Interest Rs.85,560 Interest Rs.78,436 Total Rs.2,55,600 Total Rs.2

M/S JEEVAN TELECASTING CORPN LTD,COCHIN vs. ACIT, COCHIN

In the result, ITA Nos.606 to 610/Coch/2010 are partly allowed and ITA Nos

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

68,950 Total Rs.5,80,287 2005-06 Tax Rs.2,79,926 Tax Rs.4,15,203 As per schedule Interest Rs.96,719 Interest Rs.85,560 Total Rs.3,76,645 Total Rs.5,03,763 2006-07 Tax Rs.1,70,040 Tax Rs.1,70,040 As per schedule Interest Rs.85,560 Interest Rs.78,436 Total Rs.2,55,600 Total Rs.2

M/S JEEVAN TELECASTING CORPN LTD,COCHIN vs. ACIT, COCHIN

In the result, ITA Nos.606 to 610/Coch/2010 are partly allowed and ITA Nos

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

68,950 Total Rs.5,80,287 2005-06 Tax Rs.2,79,926 Tax Rs.4,15,203 As per schedule Interest Rs.96,719 Interest Rs.85,560 Total Rs.3,76,645 Total Rs.5,03,763 2006-07 Tax Rs.1,70,040 Tax Rs.1,70,040 As per schedule Interest Rs.85,560 Interest Rs.78,436 Total Rs.2,55,600 Total Rs.2

M/S JEEVAN TELECASTING CORPN LTD,COCHIN vs. ACIT, COCHIN

In the result, ITA Nos.606 to 610/Coch/2010 are partly allowed and ITA Nos

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

68,950 Total Rs.5,80,287 2005-06 Tax Rs.2,79,926 Tax Rs.4,15,203 As per schedule Interest Rs.96,719 Interest Rs.85,560 Total Rs.3,76,645 Total Rs.5,03,763 2006-07 Tax Rs.1,70,040 Tax Rs.1,70,040 As per schedule Interest Rs.85,560 Interest Rs.78,436 Total Rs.2,55,600 Total Rs.2

M/S JEEVAN TELECASTING CORPN LTD,COCHIN vs. ACIT, COCHIN

In the result, ITA Nos.606 to 610/Coch/2010 are partly allowed and ITA Nos

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

68,950 Total Rs.5,80,287 2005-06 Tax Rs.2,79,926 Tax Rs.4,15,203 As per schedule Interest Rs.96,719 Interest Rs.85,560 Total Rs.3,76,645 Total Rs.5,03,763 2006-07 Tax Rs.1,70,040 Tax Rs.1,70,040 As per schedule Interest Rs.85,560 Interest Rs.78,436 Total Rs.2,55,600 Total Rs.2

M/S JEEVAN TELECASTING CORPN LTD,COCHIN vs. ACIT, COCHIN

In the result, ITA Nos.606 to 610/Coch/2010 are partly allowed and ITA Nos

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

68,950 Total Rs.5,80,287 2005-06 Tax Rs.2,79,926 Tax Rs.4,15,203 As per schedule Interest Rs.96,719 Interest Rs.85,560 Total Rs.3,76,645 Total Rs.5,03,763 2006-07 Tax Rs.1,70,040 Tax Rs.1,70,040 As per schedule Interest Rs.85,560 Interest Rs.78,436 Total Rs.2,55,600 Total Rs.2

M/S JEEVAN TELECASTING CORPN LTD,COCHIN vs. ACIT, COCHIN

In the result, ITA Nos.606 to 610/Coch/2010 are partly allowed and ITA Nos

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

68,950 Total Rs.5,80,287 2005-06 Tax Rs.2,79,926 Tax Rs.4,15,203 As per schedule Interest Rs.96,719 Interest Rs.85,560 Total Rs.3,76,645 Total Rs.5,03,763 2006-07 Tax Rs.1,70,040 Tax Rs.1,70,040 As per schedule Interest Rs.85,560 Interest Rs.78,436 Total Rs.2,55,600 Total Rs.2