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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Section 80P(2)(a)(i) and permissible deduction of interest income is limited to Co-operative Societies/Banks registered under Kerala Co-operative Societies Act under clause (d) of the Act and effect order on the above lines is made by the Assessing Officer. The questions are accordingly answered.” 3. We accordingly conclude that the assessee is indeed eligible

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, 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, 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, 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, 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

CHERUVATHUR FOUNDATION,KOCHI vs. ACIT, EXEMPTION CIRCLE, KOCHI

In the result, the appeal filed by the assessee stands partly allowed

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm Assessment Year: 2014-15 Cheruvathur Foundation .......... Appellant Hig 5, Panampilly Nagar, Kochi 682036 [Pan: Aabtc0724E] Vs. Acit (Exemptions), Kochi .......... Respondent Appellant By: Shri Abraham Joseph Markos, Advocate Respondent By: Smt. Veni Raj, Cit-Dr Date Of Hearing: 20.05.2025 Date Of Pronouncement: 23.06.2025 O R D E R Per: Inturi Rama Rao, Am This Appeal Filed By The Assessee Is Directed Against The Order Of The Commissioner Of Income Tax (Appeal)-4, Chennai, Dated 23.10.2024 For Assessment Year (Ay) 2014-15. 2. Brief Facts Of The Case Are That The Appellant Is A Charitable Trust Found With The Object Of Imparting Education. It Is Duly Registered U/S. 12A Of The Income Tax Act, 1961 (The Act). The Appellant Trust Filed Return Of Income For 2014-15 On 31.03.2015 Disclosing Nil Income After Claiming Exemption U/S. 11 Of The Act. In 2 Cheruvathur Foundation The Return Of Income The Appellant Claimed The Amount Spent On Acquisition Of Fixed Assets & Repayment Of Loans To Bank As Application Of Income. The Said Return Of Income Was Processed By The Cpc Vide Intimation Dated 16.03.2016 By Making Adjustment Of The Cost Of Fixed Assets Of Rs. 1,25,20.205/- & Repayment Of Loans Of Rs. 4,68,87,408/- By Not Allowing As Application Of Income. Being Aggrieved By The Said Intimation, An Application U/S. 154 Of The Act Was Filed Before The Cpc. The Intimation Was Amended By Allowing The Cost Of Asset As An Application Of Income & Confirmed The Adjustment Of Repayment Of Loan Of Rs. 4,68,87,408/- & Also Not Allowed Carry Forward Of Excess Amount Spent In Earlier Years.

68,87,408/- clearly amounts to application of income relying on the judgement of the Hon'ble Apex Court in the case of CIT v. Rajasthan and Gujarati Charitable Foundation Civil Appeal No. 5171/206. He further submitted that the CPC erred in not allowing the carry forward of excess amount spent towards charitable purpose in earlier years

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

M/S. ORIENT DURGS PVT.LTD.,MALAPPURAM vs. ASST.COMMISSIONER OF INCOME TAX, A, TIRUR

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

87,390/- could not be treated as unexplained cash credit and assessed as unexplained cash credit u/s. 68 of the Act during the A.Y. 2012-13. The Ld.CIT(A) also got a remand report from the DCIT, Circle – 1, Tirur and on that basis, the Ld.CIT(A) had allowed the appeal insofar as the opening balance of unsecured loans

HASEENA MEHBOOB,CALICUT vs. INCOME TAX OFFICER WARD 1(1), KOZHIKODE

In the result, the appeal filed by the assessee stands partly allowed

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am

68 of the Act and the CIT(A) not empowered to confirm the addition under a different section. 4 Haseena Mehboob 7. On the other hand, the ld. Sr. DR, placing reliance on the orders of the lower authorities submits that no interference is called for. 8. We have heard rival contentions and perused the material available on record

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 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

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