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

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

26,572/- (c) Disallowance under Section 36(1)(va) of the Act of INR.77,71,759/- (d) Disallowance under Section 36(1)(iii) of the Act of 2 Assessment Year 2013-2014 INR.12,68

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

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

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 ASPINWALL & CO.,LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

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

68,481/-. Since assessee had huge interest bearing funds and investments were made in the mutual funds of sister concerns from where tax dividend was also earned, the I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017 Assessing Officer disallowed interest amounting to Rs.18,43,500/- under section 14A r.w.r. 8D of the Income Tax Rules, 1962. 4. On appeal

ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

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

68,481/-. Since assessee had huge interest bearing funds and investments were made in the mutual funds of sister concerns from where tax dividend was also earned, the I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017 Assessing Officer disallowed interest amounting to Rs.18,43,500/- under section 14A r.w.r. 8D of the Income Tax Rules, 1962. 4. On appeal