SRI.THOMAS EAPEN,ALAPPUZHA vs. THE ITO, WD-5, ALAPPUZHA

In the result, the appeal of the assessee is allowed

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

68 of the Act. In other words, the Assessing Officer has not at all rejected the books of accounts of the assessee. Section 44AD provides that where the assessee is engaged in eligible business as proprietor under that section, a sum equal to 8% of the gross receipts shall be deemed to be the profits and gains

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, THRISSUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

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

section leaves no doubt that the addition u/s 68 has to be made in the hands of the assessee in whose books the credits appear and not in the hands of the creditor of the assessee. 2. The CIT(A) in deciding that unexplained credits brought into the books of the firm by the partners need to considered

THE ACIT, CEN-CIRCLE-2, KOCHI, KOCHI vs. M/S.THOMSON AGENCIES, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

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

section leaves no doubt that the addition u/s 68 has to be made in the hands of the assessee in whose books the credits appear and not in the hands of the creditor of the assessee. 2. The CIT(A) in deciding that unexplained credits brought into the books of the firm by the partners need to considered

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, THRISSUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

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

section leaves no doubt that the addition u/s 68 has to be made in the hands of the assessee in whose books the credits appear and not in the hands of the creditor of the assessee. 2. The CIT(A) in deciding that unexplained credits brought into the books of the firm by the partners need to considered

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

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

section leaves no doubt that the addition u/s 68 has to be made in the hands of the assessee in whose books the credits appear and not in the hands of the creditor of the assessee. 2. The CIT(A) in deciding that unexplained credits brought into the books of the firm by the partners need to considered

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

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

section leaves no doubt that the addition u/s 68 has to be made in the hands of the assessee in whose books the credits appear and not in the hands of the creditor of the assessee. 2. The CIT(A) in deciding that unexplained credits brought into the books of the firm by the partners need to considered

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, KOMBODINJAMAKKAL, TRICHUR, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

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

section leaves no doubt that the addition u/s 68 has to be made in the hands of the assessee in whose books the credits appear and not in the hands of the creditor of the assessee. 2. The CIT(A) in deciding that unexplained credits brought into the books of the firm by the partners need to considered

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

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

section leaves no doubt that the addition u/s 68 has to be made in the hands of the assessee in whose books the credits appear and not in the hands of the creditor of the assessee. 2. The CIT(A) in deciding that unexplained credits brought into the books of the firm by the partners need to considered

THE KUNDARA PANCHAYATH SERVICE COOPERATIVE BANK LTD,KOLLAM vs. INCOME TAX OFFICER, WARD 4, KOLLAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

68,214/- as income from other sources and consequently denied deduction u/s 80P of the Act on this amount. The assesse filed an appeal before the CIT(A). The CIT(A)/NFAC, held that the assesse is eligible for deduction u/s 80P of the Act on the business income but the action of the AO in denial of section

THE KUNDARA PANCHAYATH SERVICE COOPERATIVE BANK LTD,KOLLAM vs. INCOME TAX OFFICER, WARD-4, KOLLAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

68,214/- as income from other sources and consequently denied deduction u/s 80P of the Act on this amount. The assesse filed an appeal before the CIT(A). The CIT(A)/NFAC, held that the assesse is eligible for deduction u/s 80P of the Act on the business income but the action of the AO in denial of section

THE KUNDARA PANCHAYATH SERVICE COOPERATIVE BANK LTD,KOLLAM vs. INCOME TAX OFFICER, WARD 4, KOLLAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

68,214/- as income from other sources and consequently denied deduction u/s 80P of the Act on this amount. The assesse filed an appeal before the CIT(A). The CIT(A)/NFAC, held that the assesse is eligible for deduction u/s 80P of the Act on the business income but the action of the AO in denial of section

KRISHNA STEEL ROLLING MILLS,PALAKKAD vs. ITO, CIRCLE-1, PALAKKAD, PALAKKAD

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2017-18

section 68 of the Act on account of cash deposited in bank account of the assessee. In this connection, the facts of the present case, as noted from impugned assessment order are that NIL income was filled by the assessee for the A.Y. 2017-18 and admitting loss of Rs. (11,18,28

SRI.ANWARSADATH,ALAPPUZHA vs. THE ITO, WD-1, ALAPPUZHA

In the result, the appeals of the assessee are partly allowed

Bench: Shri George George K.

section 68 of the Act and is so assessed.” 4.1 Similarly, for the assessment year 2004-05, the Assessing Officer made addition of Rs.5,90,709/- on account of unexplained credits in the capital and chitty installments. The relevant finding of the Assessing Officer reads as follows: “4. As regards to the source of capital introduced during the year

SRI.ANWARSADATH,ALAPPUZHA vs. THE ITO, WD-1, ALAPPUZHA

In the result, the appeals of the assessee are partly allowed

Bench: Shri George George K.

section 68 of the Act and is so assessed.” 4.1 Similarly, for the assessment year 2004-05, the Assessing Officer made addition of Rs.5,90,709/- on account of unexplained credits in the capital and chitty installments. The relevant finding of the Assessing Officer reads as follows: “4. As regards to the source of capital introduced during the year

V.K.M FEEDS PRIVATE LIMITED,TAMILNADU vs. ACIT,CENTRAL CIRCLE, THRISSUR

In the result, the appeal filed by the assessee is allowed

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhailassessment Year : 2017-18 Vkm Feeds Private Limited, Acit, Central Circle, 2, Reservoir Street, Thrissur Venkatesa Colony, Vs. Pollachi-642001 Tamil Nadu Pan : Aafcv2454D (Appellant) (Respondent) For Assessee : Shri Shaji Paulose, Ca For Revenue : Shri Sanjit Kumar Das, Cit-Dr (Heard In Hybrid Bench) Date Of Hearing : 25-03-2025 Date Of Pronouncement : 27-05-2025

28-03-2018, declaring a total income of Rs. 14,32,460/-. On the basis of the statement of the Promoter Director of the assessee recorded u/s. 132(4) of the Act, proceedingsu/s. 153C of the Actwere initiated and notice u/s. 153C of the Act was issued on 14-08-2019. In his statement, the Promoter Director of the assessee

SUPRIYA ENTERPRISES,MANJERI, MALAPPURAM vs. THE ITO, TIRUR

Appeal is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manoj Kumar Aggarwalm/S. Supriya Enterprises Principal Commissioner Of 16,263, Calicut Road Income Tax Vs. Manjeri, Malappuram 676121 Kozhikode

Section 263 of the Income Tax Act, 1961 (in short the Act). Heard both the parties. Case file perused. 2. We first of all note that PCIT’s impugned revision directions read as follows: - “1. The assessee filed the Return of Income for A.Y 2015-16 on 24-03-2017 admitting a total income

THE ACIT, KOCHI vs. M/S.KUNNEL ENGINEERS & CONTRACTORS P. LTD, KOCHI

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

28 of that previous year in which such sum is actually paid by him 3.5 The Ld. AR submitted that from a plain reading of section 43B it is apparent that the deductions are available to an assessee only when it is a deduction otherwise allowable under the Act. In the present case, it was submitted that service

SANTHIMADAM AGROFARM TRUST,KOCHI vs. THE ACIT CENTRAL CIRCLE 2, KOCHI

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri Soundararajan K.

68 or 69 since the same was not made based on the seized materials. We have perused the records but nowhere we found that there is a correlation between the addition and the seized materials. Therefore, we find some force in the argument of the learned A.R. that the addition cannot be sustained in view of the non-linking