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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

sections are attracted 6. The learned Commissioner of Income Tax (Appeals) erred in sustaining the addition of Rs. 3,50,44,001/- as unexplained income u/s 68

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, 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, 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 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

RAJU JOSEPH VAYALAT,ERNAKULAM vs. ITO, WARD-2(5), KOCHI

In the result, the appeal of the assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri Sonjoy Sarma

Section 68 of the Act. The AO further observed that the assessee had sold land for Rs. 44,39,000 and claimed

M/S.KOTTAKKAL WOOD COMPLEX,KOTTAKKAL vs. THE ITO, TIRUR

In the result, the appeals of the assessee are allowed and the Stay Petitions

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

44,553/- 2007-08 2,68,385/- 2008-09 1,77,154/-. 4. On appeal, the CIT(A) observed that the main issue is penalty imposed by the AO on account of addition made for suppressed sales and undisclosed stock in all these years. The assessment orders passed by the AO on these issues were confirmed by the Appellate Authority

THE ACIT, ERNAKULAM vs. M/S.HOLIDAY MARKETING P. LTD, COCHIN

In the result, appeal filed by the revenue is dismissed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

44,00,000/- as unexplained credits under section 68 of the Act in the hands of the assessee on the ground

SREEVALSAM HOTELS AND RESORTS PRIVATE LTD,RAJAVALSAM vs. ACIT, CENTRAL CIRCLE, KOLLAM

In the result, assessee’s appeal in ITA No

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm

44,98,312/- on 27.03.2017, the said transaction of loan was reflected in the financial statements of P.S. Enterprises. Confirmation letters were filed, which is placed on pages 9 & 10. Thus, he submitted that the appellant had discharged the onus of proving the ingredients of section 68

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

68 of the Act is justified. This ground of appeal of the assessee is rejected. 11. The next ground is with regard to addition of Rs.2,45,198/- as agricultural income as undisclosed income. 11.1 The facts are that assessee claimed Rs.2,45,198/- as agricultural income. The Assessing Officer relied on Part-IV of the Finance Act which elaborates

THE ACIT, CEN-CIRCLE, KOLLAM vs. M/S.SABARI ENTERPRISES P. LTD,, KOLLAM

In the result, the appeals of the Revenue as well as the Cross

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

section 2(22)(e) was met. Accordingly, he justified the addition made by the Assessing Officer. 11.4 On the other hand, the Ld. AR submitted that the loan of Rs.1,70,62,169/- was not out of the Reserves and Surpluses of M/s. Sabari Milineium Impex P. Ltd. as on 31/03/2009 since the same as per its balance sheet

THE ACIT, KOLLAM vs. SRI.P.SUNILKUMAR, KOLLAM

In the result, the appeals of the Revenue as well as the Cross

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

section 2(22)(e) was met. Accordingly, he justified the addition made by the Assessing Officer. 11.4 On the other hand, the Ld. AR submitted that the loan of Rs.1,70,62,169/- was not out of the Reserves and Surpluses of M/s. Sabari Milineium Impex P. Ltd. as on 31/03/2009 since the same as per its balance sheet

THE CENTRAL CIRCLE, KOLLAM, THE CENTRAL CIRCLE,KOLLAM vs. SRI.P.SUNIL KUMAR, KOLLAM

In the result, the appeals of the Revenue as well as the Cross

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

section 2(22)(e) was met. Accordingly, he justified the addition made by the Assessing Officer. 11.4 On the other hand, the Ld. AR submitted that the loan of Rs.1,70,62,169/- was not out of the Reserves and Surpluses of M/s. Sabari Milineium Impex P. Ltd. as on 31/03/2009 since the same as per its balance sheet

THE ACIT, CEN-CIRCLE, KOLLAM, KOLLAM vs. SRI.P.SUNIL KUMAR, KOLLAM

In the result, the appeals of the Revenue as well as the Cross

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

section 2(22)(e) was met. Accordingly, he justified the addition made by the Assessing Officer. 11.4 On the other hand, the Ld. AR submitted that the loan of Rs.1,70,62,169/- was not out of the Reserves and Surpluses of M/s. Sabari Milineium Impex P. Ltd. as on 31/03/2009 since the same as per its balance sheet

THE DCIT, CEN-CIRCLE, KOLLAM, KOLLAM vs. SRI.P>SUNIL KUMAR, KOLLAM

In the result, the appeals of the Revenue as well as the Cross

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

section 2(22)(e) was met. Accordingly, he justified the addition made by the Assessing Officer. 11.4 On the other hand, the Ld. AR submitted that the loan of Rs.1,70,62,169/- was not out of the Reserves and Surpluses of M/s. Sabari Milineium Impex P. Ltd. as on 31/03/2009 since the same as per its balance sheet