VRINDAVAN BUILDERS PVT LTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM vs. VRINDAVAN BUILDERS PRIVATE LIMITED, KERALA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

VRINDAVAN BUILDERS PVT LTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KERALA vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 13. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 14. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

VRINDAVAN BUILDERS PVT KTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. ALLEBASI BUILDERS AND DEVELOPERS (P) LTD, ATTINGAL

In the result, appeal filed by the assessee stands allowed and Revenue’s appeal and assessee’s cross objection stand dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 13. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 14. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

VRINDAVAN BUILDERS PVT LTD,NAGALAND vs. ACIT, CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM, KOLLAM vs. VRINDAVAN BUILDERS PRIVATE LIMITED, PATHANAMTHITTA

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

VRINDAVAN BUILDERS PVT LTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

VRINDAVAN BHAVAN PVT LTD,NAGALAND vs. ACIT CENTRAL CIRCLE, KOLLAM

In the result, the appeals filed by the assessee for assessment years 2012-13 to 2017-18 are allowed and the appeals filed by Revenue for assessment years 2013-14 to 2017-18 are dismissed

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

68 of the Act. Since the identity, genuineness and creditworthiness of the transaction are proved, not addition is required to be made. 15. On the other hand, the ld. CIT-DR seriously opposed the above submissions. 16. We heard the rival submissions and perused the material on record. Now we shall take up ground of appeal No. 1 challenging

THE ITO, WD-1(1), KOCHI vs. SHRI.P.V.ABRAHAM, KOCHI

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

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

73,185/- Total source available Rs. 19,35,502/- Unexplained Income Rs.1,54,86,598/- . 4. On appeal, the CIT(A) deleted the addition by holding that the facts of the instant case are squarely covered by the decision of the ITAT, Cochin Bench in the case of ITO vs. Abraham Varghese Cheruvil (2017) Taxcorp

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. ARUN RAJ PILLAI, PATHANAMTHITTA

In the result, the cross objection filed by the assessee company stands allowed

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

68 of the I.T. Act, the authorities below had also rejected the explanation given by the assessee that the amounts received by him were by way of loan from persons in Nagaland. Based on its earlier finding that the Revenue had not established that the bank accounts held by the other family members and group concerns actually belong

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOLLAM vs. MONEYMUTTAM FINANCE, PATHANAMTHITTA

In the result, assessee’s cross objection stands allowed and appeal filed by the Revenue stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm Assessment Years: 2017-18

68 of the I.T. Act, the authorities below had also rejected the explanation given by the assessee that the amounts received by him were by way of loan from persons in Nagaland. Based on its earlier finding that the Revenue had not established that the bank accounts held by the other family members and group concerns actually belong

V GUARD INDUSTRIES LIMITED,VENNALA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOCHI

In the result, the assessee’s appeal is partly allowed

Bench: Shri Sanjay Arora & Shri Sandeep Gosainv-Guard Industries Ltd. Principal Cit-1, 42/962, Vennala High School C R Building, I S Press Road, Vs. Road, Vennala, Kochi 682018 Ernakulam 682028 [Pan: Aaacv5492Q] (Appellant) (Respondent) Appellant By: Shri Anil D. Nair, Advocate Respondent By: Shri Prashant V.K., Cit-Dr Date Of Hearing: 01.02.2023 Date Of Pronouncement: 20.03.2023 O R D E R Per: Bench This Is An Appeal By The Assessee Challenging The Revision Of It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) Dated 28/12/2018 For Assessment Year (Ay) 2016-17 By The Principal Commissioner Of Income Tax-1, Kochi (‘Pr. Cit’ For Short) Vide Order U/S. 263 Dated 22/03/2021. 2. The Appeal, Filed On 08/03/2022, Though Delayed By 256 Days, Was Admitted In View Of The Blanket Condonation By The Apex Court In Suo Motu Wp(C) No.3/2020, Dated 10/01/2022, Excluding The Period From 15/3/2020 To 28/02/2022 In Reckoning The Delay In Computing Limitation Under Law & The Hearing Accordingly Proceeded With. The Assessee Is A Company Manufacturing Electrical Cables, Pumps, Solar Water Heaters, Etc. & Trading In Electrical & Electronic Goods. Revision Of It’S Impugned Assessment Is On Several Issues On Which The Revisionary Authority Found An Absence Or Lack Of Enquiry By The Assessing Officer

Section 115JB has not been considered by the AO, which is a mistake prejudicial to the interest of revenue.’ That is, non-consideration of certain claims of expenditure for computation of book-profit. The assessee, in reply, admits to the said deficiency, though claims that it would be of no consequence as the tax liability u/s. 115JB, even after

THE ITO,WD-2(5), THRISSUR vs. M/S.THIROOR SERVICE CO-OP BANK LTD, THRISSUR

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

section 80P(2) (a) (i) of the Income-tax Act,1961 without perceiving the difference in definition of a Primary Agricultural Credit Society in the two Acts. 5. The Full Bench of the Hon’ble High Court of Kerala in ITA Nos.97, 135 of 2016, 3, 11, 12, 22, 25, 26, 32, 33, 55, 68, 69, 72, 73