SRI.K.RAVINDRANATHAN NAIR,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SMT. T.C. USHA,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SMT. T.C. USHA,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

M/S. VIJAYALAXMICASHEW CO.,,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SRI.R. PRATAP,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SRI.R. PRATAP,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SRI.R. PRATAP,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

SRI.R.PRAKASH,KOLLAM vs. THE ACIT, KOLLAM

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

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

section 80HHC, there was an apprehension that I.T.A. Nos.37 to 49/Coch/2016 underpricing could be done to enable sister concerns claim greater 80HHC benefit. This is no longer the case from A.Y. 2005-06. Both the assessees and sister concern(s) paid tax at maximum marginal rate. The timing of contracts is also an important parameter in the matter of fixing

M/S.ALLIANZ CORNHILL INFORMATION SERVICES P. LTD,TRIVANDRUM vs. THE DCIT, TRIVANDRUM

In the result, ground Nos

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

Transfer pricing adjustment was reduced to Rs.6,72,554. 2.3 The Assessing Officer on receipt of the DRP’s order dated 12.08.2016, passed the final assessment order u/s 143(3) r.w.s. 144C r.w.s. 92CA of the I.T.Act and issued the demand notice u/s 156 of the Act raising a total demand of Rs.9,38,08,666. 2.4 Aggrieved

THE ACIT, KOCHI vs. M/S.KUNNEL ENGINEERS & CONTRACTORS P. LTD, KOCHI

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

price for services imposed by statutory provision. Moreover, the service tax collected by the assessee does not belong to it and it is to be paid to the treasury within the time allowed and the principle of diversion by overriding title applies to it. Therefore, when the assessee fails to deposit the same, the principle laid down that it shall

THE ACIT, COCHIN vs. M/S.SUD CHEMIE INDIA P. LTD, ALUVA

In the result, the appeals of the Revenue are partly allowed for statistical

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

price below cost is allowed even though such loss has not been realized actually. At this stage, we need to emphasise once again that the above system of commercial accounting can be superseded or modified by legislative enactment. This is where s. 145(2) comes into play. Under that section, the Central Government is empowered to notify from time

THE ACIT, COCHIN vs. M/S.SUD CHEMIE INDIA P. LTD, COCHIN

In the result, the appeals of the Revenue are partly allowed for statistical

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

price below cost is allowed even though such loss has not been realized actually. At this stage, we need to emphasise once again that the above system of commercial accounting can be superseded or modified by legislative enactment. This is where s. 145(2) comes into play. Under that section, the Central Government is empowered to notify from time

K.ABDUL VAHEED,TALIPARAMBA vs. ACIT(CENTRAL CIRCLE-1), KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

Section 145(3) of the Income Tax Act, which apply in cases of discrepancies in the books of accounts, were not invoked in this case. Therefore, we set aside the findings of the learned CIT(A) and direct the Assessing Officer to delete the addition made by him. Consequently, the assessee’s ground of appeal is hereby allowed. 56. Coming

KAKKOTTAKATH NADUVILAPURAYIL JUNAID,KANNUR vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

Section 145(3) of the Income Tax Act, which apply in cases of discrepancies in the books of accounts, were not invoked in this case. Therefore, we set aside the findings of the learned CIT(A) and direct the Assessing Officer to delete the addition made by him. Consequently, the assessee’s ground of appeal is hereby allowed. 56. Coming