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

40A(3), including interest, rent, salary and other business expense where payment in cash exceeding Rs.20,000 and not covered by Rule 6DD. iv. disallowance of interest and other sums under section 40(a)(i), if any, if section 195 is violated. v. disallowance under section 40(a)(ia), after due examination (due care

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

40A(3), including interest, rent, salary and other business expense where payment in cash exceeding Rs.20,000 and not covered by Rule 6DD. iv. disallowance of interest and other sums under section 40(a)(i), if any, if section 195 is violated. v. disallowance under section 40(a)(ia), after due examination (due care

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

40A(3), including interest, rent, salary and other business expense where payment in cash exceeding Rs.20,000 and not covered by Rule 6DD. iv. disallowance of interest and other sums under section 40(a)(i), if any, if section 195 is violated. v. disallowance under section 40(a)(ia), after due examination (due care

THE KALAKKODU SERVICE CO-OP BANK LTD,KOLLAM vs. THE ITO, KOLLAM

In the result, the appeal filed by the assessee is partly allowed and the stay petition filed by the assessee is dismissed as infructuous

Bench: Shrigeorge George K.And Shrilaxmi Prasad Sahu(Assessment Year:2018-19

40a(3), 43B etc. Of the Act and other specific disallowances, related to the business activity against which the chapter VI-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under chapter VI-A is admissible on the profits so enhanced by the disallowance. So our deduction u/s 80P will also

THE TRIVANDRUM EMPLOYEES CO-OPERATIVE SOCIETY LIMITED NO. 43,TRIVANDRUM vs. THE ADDITIONAL JOINT DEPUTY ASSISTANT COMMISSIONER OF INCOME TAX, KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

40A(3) of the Income Tax Act, without entering into a finding that there is failure to deduct tax in respect of each item. The Trivandrum Employees Co-operative Society Ltd. 8) The learned Assessing Officer went wrong in invoking the provisions of Section 115BBE of the Income Tax Act. Appellant prays that the Assessing Officer may be directed

THE TRIVANDRUM EMPLOYEES CO-OPERATIVE SOCIETY LIMITED NO. 43,THIRUVANANTHAPURAM vs. THE INCOME TAX OFFICER, THIRUVANANTHAPURAM

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

40A(3) of the Income Tax Act, without entering into a finding that there is failure to deduct tax in respect of each item. The Trivandrum Employees Co-operative Society Ltd. 8) The learned Assessing Officer went wrong in invoking the provisions of Section 115BBE of the Income Tax Act. Appellant prays that the Assessing Officer may be directed

KKR AGRO MILLS P. LTD,ERNAKULAM vs. THE ACIT, COCHIN

In the result, appeal is allowed in favour of the assessee

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sassessment Year : 2010-11 Kkr Agro Mills Pvt. Ltd., Vs. Acit, Iii/678, Kkr Building, Okkal Kalady, Circle – 1(2), Ernakulam – 683 550. Kochi. Pan : Aabck 6542 K Assessee Respondent

7. The learned DR relied on the order of the CIT(A). 8. We heard the rival submissions and perused the material on record. The provisions of section 40A(2) reads as follows – Expenses or payments not deductible in certain circumstances. 40A. (1) ** (2)(a) Where the assessee incurs any expenditure in respect of which payment has been

SMT.K.B.SONY,COCHIN vs. THE DCIT, COCHIN

In the result, i) The appeal of the assessee in ITA No

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

40A (other than sub-section (3) and (4) thereof) 41, 43, 43A, 43B and 43C of the Income Tax Act shall so far as may be, apply accordingly. Rule 6. Where the result of the computation for previous year in respect of any source of agricultural income is a loss, such loss shall be set off against the income

INCOME TAX OFFICER, THIRUVANANTHAPURAM vs. THIRUVANANTHAPURAM SERVICE CO-OPERATIVE BANK LTD, THIRUVANANTHAPURAM

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm

40A(ia) for disallowance of expenses where TDS was not deducted. The assessee denied the status of the society as a co-operative society and consequently, treating interest income of Rs.2,95,38,828/- as income from other sources, thereby denying deduction under Section 80P(2)(a)(i) and 80P(2)(d). Further, the AO made addition of Rs.13

SMT. T.C. USHA,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits

SRI.R. PRATAP,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits

SRI.K.RAVINDRANATHAN NAIR,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits

SRI.R. PRATAP,KOLLAM vs. THE ACIT, KOLLAM

In the result, the appeals of the assessees in ITA Nos

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

7) (8) 1. Prakash Exports 195037850 267.39 294.44 214767916 19730066 729411.480 2. Nut Products 64326800 267 294.44 70819121 6492321 Company 240521.14 3. Prathyush Exports 3404800 247 294.44 4060162 655363 13789.44 TOTAL 2,68,77,750 4. On appeal, the CIT(A) observed that the onus to establish the fact that the transaction is genuine, in view of diversion of profits