KERALA STATE CO-OPERATIVE BANK LTD,THIRUVANANTHAPURAM vs. DCIT,CIRCLE-1(1), THIRUVANANHAPURAM

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2018-19

Transfer Pricing Officer, where the assessee had maintained information and documents as prescribed under section 92D, declared the international transaction under Chapter X, and, disclosed all the material facts relating to the transaction; and (e) the amount of undisclosed income referred to in section 271AAB. (7) The penalty referred to in sub-section (1) shall be a sum equal

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

transferred to the securities premium account. It may be that the expenditure finally booked for the relevant year accounts for this difference, as it appears from a reading of Note 2.1(o). Further, the valuation of the options unexercised as at the end of the account period, inasmuch as it would only be with reference to the extant market price

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

reassessment (for Assessment Years (AYs.) 2004-05 to 2007-08) and regular assessments for the subsequent two years, challenging the same on confirmation in first appeal vide orders dated 28.12.2021 (AYs 2004-05 to 2006-07), 27.3.2022 (for AYs 2007-08 & 2009-10) and 31.8.2022 (for AY 2015-16), by the National Faceless Appeal Centre, Delhi (NFAC) or the First

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

reassessment (for Assessment Years (AYs.) 2004-05 to 2007-08) and regular assessments for the subsequent two years, challenging the same on confirmation in first appeal vide orders dated 28.12.2021 (AYs 2004-05 to 2006-07), 27.3.2022 (for AYs 2007-08 & 2009-10) and 31.8.2022 (for AY 2015-16), by the National Faceless Appeal Centre, Delhi (NFAC) or the First

M/S SULAIKHA CLAY MINES,TRIVANDRUM vs. DCIT ,CIRCLE 1(2), TRIVANDRUM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

reassessment (for Assessment Years (AYs.) 2004-05 to 2007-08) and regular assessments for the subsequent two years, challenging the same on confirmation in first appeal vide orders dated 28.12.2021 (AYs 2004-05 to 2006-07), 27.3.2022 (for AYs 2007-08 & 2009-10) and 31.8.2022 (for AY 2015-16), by the National Faceless Appeal Centre, Delhi (NFAC) or the First

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

reassessment (for Assessment Years (AYs.) 2004-05 to 2007-08) and regular assessments for the subsequent two years, challenging the same on confirmation in first appeal vide orders dated 28.12.2021 (AYs 2004-05 to 2006-07), 27.3.2022 (for AYs 2007-08 & 2009-10) and 31.8.2022 (for AY 2015-16), by the National Faceless Appeal Centre, Delhi (NFAC) or the First

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

reassessment (for Assessment Years (AYs.) 2004-05 to 2007-08) and regular assessments for the subsequent two years, challenging the same on confirmation in first appeal vide orders dated 28.12.2021 (AYs 2004-05 to 2006-07), 27.3.2022 (for AYs 2007-08 & 2009-10) and 31.8.2022 (for AY 2015-16), by the National Faceless Appeal Centre, Delhi (NFAC) or the First

SULAIKHA CLAY MINES,THIRUVANANTHAPURAM vs. ACIT, CIRCLE 1(2), THIRUVANANTHAPURAM, THIRUVANANTHAPURAM

In the result, the appeals for all the years are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Das

reassessment (for Assessment Years (AYs.) 2004-05 to 2007-08) and regular assessments for the subsequent two years, challenging the same on confirmation in first appeal vide orders dated 28.12.2021 (AYs 2004-05 to 2006-07), 27.3.2022 (for AYs 2007-08 & 2009-10) and 31.8.2022 (for AY 2015-16), by the National Faceless Appeal Centre, Delhi (NFAC) or the First

M/S THE REGIONAL AGRO INDUSTRIAL DEVELOPMENT COOPERATIVE OF KERALA LTD,KANNUR vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KANNUR RANGE

Bench: The Tribunal Within The Time Prescribed. Accordingly, The Delay Of 69 Days In Filing The Present Appeal Is Condoned.

Reassessment proceedings were initiated in the case of the Assessee by issuance of notice dated 25/10/2012 under Section 148 of the Act. In response to the aforesaid notice Assessee filed return of income on 17/01/2013 declaring ‘Nil’ income. During the assessment proceedings the Assessing Officer noted that payment aggregating of INR.72,30,560/- were made in cash during the relevant