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

3) read with section 143(3A) and 143(3B) of the Act was only under section 68 of the Act. However

BHIMA JEWELLERS,SULTHAN BATHERY, WAYANAD vs. THE PR CIT, KOZHIKKODE, KOZHIKKODE

In the result, appeal of the assessee is dismissed

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.208/Coch/2018 Assessment Year : 2013-14 M/S. Bhima Jewellers, Vs. The Pr. Commissioner Of Income- 6/785 Ai, Tax, Kozhikode. Mysore Road, Chungum Junction, Sulthan Bathery, Wayanad-673 592. [Pan: Aakfb 9817C] (Assessee-Appellant) (Revenue-Respondent) Revenue By Shri Dhanaraj A. Sr. Dr Assessee By Shri R. Krishnan, Ca Date Of Hearing 05/07/2018 Date Of Pronouncement 20/08/2018

section 68 to 69D will be subjected to tax at flat rate of 30% and not set off of loss would be allowed against such income. It was submitted that the memorandum explaining the amendments clearly states that the amendment would take place prospectively form AY 2017-18 onwards. 3

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)

3) of Income Tax Act, 1961 (the Act) dated 27.12.2018 for Assessment Year (AY) 2017-18. The facts and circumstances of the two cases being the same, raising common issues for adjudication, the appeals per taken up together for hearing, and heard together. For technical reasons though; Form 35 being not available on record in Appeal No. 899/Coch/2022, hearing

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)

3) of Income Tax Act, 1961 (the Act) dated 27.12.2018 for Assessment Year (AY) 2017-18. The facts and circumstances of the two cases being the same, raising common issues for adjudication, the appeals per taken up together for hearing, and heard together. For technical reasons though; Form 35 being not available on record in Appeal No. 899/Coch/2022, hearing

M/S.SAHYADRI AGENCIES LTD,KANDNASSERY, THRISSUR vs. THE ITO, WD-1(3), THRISSUR

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

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

3,00,00,000/- along with securities premium of Rs. 57,00,00,000/- to Shri. MP Ramachandran, one of the Directors of the company. This issue is not seen to have been examined by the Assessing Officer. The securities premium of Rs. 57,00,00,000/- may have to be brought to tax under section 56(2)(viib

SHAHUL HAMEED,MANANTHAVADY vs. ITO, WARD-2, KALPETTA

In the result, the appeal by the assessee is allowed

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

3) read with section 147 of the Act, treated the income declared under the head “Income from Other Sources” as an unexplained investment under section 69 of the Act, and therefore, applied the provisions of section 115-BBE for computing the tax liability of the assessee. It is evident from the record that while assessing the total

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

Section 14A of the Income Tax Act, 1961 r.w.r 8D of the Income Tax Rules, 1962. 2. The learned CIT (A) ought to have observed that the appellant has not incurred any expenditure to earn exempt income of Rs. 6,59,278/-. 3. The learned CIT (A) ought to have observed that the investments from which the exempt income

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

Section 14A of the Income Tax Act, 1961 r.w.r 8D of the Income Tax Rules, 1962. 2. The learned CIT (A) ought to have observed that the appellant has not incurred any expenditure to earn exempt income of Rs. 6,59,278/-. 3. The learned CIT (A) ought to have observed that the investments from which the exempt income

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

Section 14A of the Income Tax Act, 1961 r.w.r 8D of the Income Tax Rules, 1962. 2. The learned CIT (A) ought to have observed that the appellant has not incurred any expenditure to earn exempt income of Rs. 6,59,278/-. 3. The learned CIT (A) ought to have observed that the investments from which the exempt income

THE DCIT, COCHIN vs. M/S.ASPINWALL & CO. LTD, COCHIN

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

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

Section 14A of the Income Tax Act, 1961 r.w.r 8D of the Income Tax Rules, 1962. 2. The learned CIT (A) ought to have observed that the appellant has not incurred any expenditure to earn exempt income of Rs. 6,59,278/-. 3. The learned CIT (A) ought to have observed that the investments from which the exempt income

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

3 is with to disallowance of deduction u/s. 80P of the Act on addition of unexplained income under section 68

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

3 is with to disallowance of deduction u/s. 80P of the Act on addition of unexplained income under section 68

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

3 is with to disallowance of deduction u/s. 80P of the Act on addition of unexplained income under section 68

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

3 is with to disallowance of deduction u/s. 80P of the Act on addition of unexplained income under section 68

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

3 is with to disallowance of deduction u/s. 80P of the Act on addition of unexplained income under section 68

M/S SANTHIMADOM HERBAL CITY TRUST,ERNAKULAM vs. ACIT CENTRAL CIRCLE -2, KOCHI

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

section 68, so as to be able to contend, on that basis, that the investment is recorded in the books. In the absene of any explanation as to the source thereof, the basis of the addition continues to be the unexplained nature and the source of the investment. The Revenue claiming interest u/s. 234A(1) r.w.s 234A

M/S SANTHIMADOM HERBAL CITY TRUST,ERNAKULAM vs. ACIT CENTRAL CIRCLE 2, KOCHI

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

section 68, so as to be able to contend, on that basis, that the investment is recorded in the books. In the absene of any explanation as to the source thereof, the basis of the addition continues to be the unexplained nature and the source of the investment. The Revenue claiming interest u/s. 234A(1) r.w.s 234A

POPULAR MOTORWORLD PRIVATE LIMITED,ERNAKULAM vs. INCOME TAX OFFICER, CORPORATE WARD 2(5), KOCHI

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

Section 143(3) of the Act was framed on the Assessee vide Assessment Order, dated 28/12/2016. Subsequently, the Assessing Officer recorded the following reasons for reopening the assessment: “(a) Subsequently on verifying the records it was found that a sum of Rs. 2,82,82,304/-included in the turnover was omitted to be 3 Assessment Year