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)

section 115BBE are only consequential in nature, which are applicable only when the income chargeable to tax is in the nature of income assessable u/s 68 to 69D. 4.9 The provisions of 115BBE taxing certain types of income @ 60% were brought on statute by Finance Act, 2017 after demonization, after introduction of prevention of Black Money (Undisclosed foreign income

THE ACIT, ERNAKULAM vs. M/S. THOMSON METALS, TRICHUR

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

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

section 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving ITA No.124/Coch/2017. 9 M/s.Thomson Metals. the source

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 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving the ITA No.310-316/Coch/2017. 9 M/s.Thomson Agencies. source

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 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving the ITA No.310-316/Coch/2017. 9 M/s.Thomson Agencies. source

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 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving the ITA No.310-316/Coch/2017. 9 M/s.Thomson Agencies. source

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 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving the ITA No.310-316/Coch/2017. 9 M/s.Thomson Agencies. source

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 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving the ITA No.310-316/Coch/2017. 9 M/s.Thomson Agencies. source

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 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving the ITA No.310-316/Coch/2017. 9 M/s.Thomson Agencies. source

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 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving the ITA No.310-316/Coch/2017. 9 M/s.Thomson Agencies. source

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 cost of improvement of Rs. 35,77

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

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 against which the assessee filed appeals I.T.A. Nos. 593-599

M/S.IBS SOFTWARE SERVICES P. LTD,TRIVANDRUM vs. THE DCIT, TRIVANDRUM

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

68,911/- The Assessee has now preferred the present appeal challenging Final Assessment Order. The Assessee has raised 17 Grounds of Appeal which are taken up in seriatim hereinafter. Ground No.1 3. Ground No.1 raised by the Assessee reads as under: “1. That the order of the learned Assistant Commissioner of Income-tax, Circle 1(1), Thiruvananthapuram (Assessing Officer

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

77,02,505/- ii. Federal Bank, Puthencruz Rs. 1,78,53,985/- iii.Federal Bank, Thripunithura Rs. 14,50,213/- iv. Canara Bank, Thripunithura Rs. 1,95,444/- Total Deposits Rs. 3,72,02,147/- Less source available Rs. 19,35,502/- Total unexplained Income . Rs. 3,52,66,645/- 3.1 The assessee was asked to explain the source of deposits

SMT.ASHA MENON( ASHA SUNIL),COCHIN vs. THE ACIT(CEN,CIRCLE, ERNAKULAM

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

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

68,316/- was not considered by him. Insofar as the amount that has been taken by the Assessing Officer is concerned, the Tribunal has noted that in the absence of any details with regard to earning of income and the persons from whom the money was received, the Assessing Officer has rightly treated the entire amount as income. Insofar

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

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

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

68,316/- was not considered by him. Insofar as the amount that has been taken by the Assessing Officer is concerned, the Tribunal has noted that in the absence of any details with regard to earning of income and the persons from whom the money was received, the Assessing Officer has rightly treated the entire amount as income. Insofar

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

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

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

68,316/- was not considered by him. Insofar as the amount that has been taken by the Assessing Officer is concerned, the Tribunal has noted that in the absence of any details with regard to earning of income and the persons from whom the money was received, the Assessing Officer has rightly treated the entire amount as income. Insofar

SMT.ASHA MENON( ASHA SUNIL),COCHIN vs. THE DCIT, ERNAKULAM

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

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

68,316/- was not considered by him. Insofar as the amount that has been taken by the Assessing Officer is concerned, the Tribunal has noted that in the absence of any details with regard to earning of income and the persons from whom the money was received, the Assessing Officer has rightly treated the entire amount as income. Insofar

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

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

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

68,316/- was not considered by him. Insofar as the amount that has been taken by the Assessing Officer is concerned, the Tribunal has noted that in the absence of any details with regard to earning of income and the persons from whom the money was received, the Assessing Officer has rightly treated the entire amount as income. Insofar

SRI.O.G.SUNIL,COCHIN vs. DCIT, ERNAKULAM

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

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

68,316/- was not considered by him. Insofar as the amount that has been taken by the Assessing Officer is concerned, the Tribunal has noted that in the absence of any details with regard to earning of income and the persons from whom the money was received, the Assessing Officer has rightly treated the entire amount as income. Insofar