M/S.APOLLO TYRES LTD,COCHIN vs. THE PRINCIPAL COMMISSIONER OF INCOMETAX, COCHIN

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

Bench: Shri Inturi Rama Rao, Am & Shri Rahul Chaudhary, Jm Assessment Year: 2013-14 Apollo Tyres Ltd. .......... Appellant 3Rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036 [Pan: Aaaca6990Q] Vs. Dcit, Corporate Circle-1(1), Kochi ......... Respondent Assessee By: Shri Abraham Joseph Markos, Adv. Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 20.08.2025 Date Of Pronouncement: 01.09.2025

Transfer Pricing Officer (TPO) u/s. 92CA(1) of the Act for the purpose of benchmarking the above international transactions. The TPO vide order dated 28.10.2016 3 Apollo Tyres Ltd. passed u/s. 92CA(3) of the Act suggested upward TP adjustments in respect of corporate guarantee commission provided to Apollo Vredestein BV (AVBV

PLANT LIPIDS (P) LTD.,KADAYIRUPPU vs. DCIT , CORPORATE CIRCLE-2(1), KOCHI

In the result appeal filed by assessee stands allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubeyassessmentyear:2020-21 Plant Lipids (P) Ltd. Kadayiruppu Po Kolenchery Dcit, Vs. Kerala 682 311 Corporate Circle-2(1) Kochi Pan No : Aabcp6061C Appellant Respondent Appellant By : Shri Thomson Thomas, A.R. Respondent By : Shri Sanjit Kumar Das, D.R. Date Of Hearing : 20.02.2025 Date Of Pronouncement : 19.05.2025 O R D E R Perkeshav Dubey: This Appeal At The Instance Of The Assessee Is Directed Against The Order Of The Ao, Assessment Unit, Income Tax Department Dated 19.6.2024 Vide Din No.Itba/Ast/S/143(3)/2024- 25/1065876641(1) For The Ay 2020-21 Passed U/S 143(3) R.W.S. 144C(13) R.W.S. 144B Of The Income Tax Act, 1961 (In Short “The Act”). 2. The Assessee Has Raised Following Grounds Of Appeal: Plant Lipids (P) Ltd., Kolencherry, Kerala Page 2 Of 8

Transfer Pricing Order made an adjustment of Rs.2,03,38,752/- towards notional guarantee commission in respect of corporate guarantee given by the assessee for its Subsidiary.After receiving the order of the TPO, the Assessing Officer made a draft assessment order u/s 144(1) proposing to make the following adjustments:- i. Addition as proposed by TPO — towards notional Guarantee Commission

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

THE DCIT,CEN-CIRCLE,, THRISSUR vs. SRI.T.G. CHANDRAKUMAR, THRISSUR

In the result, the Appeal by the Revenue is allowed on the aforesaid terms

Bench: Shri Sanjay Arora (Accountant Member), Shri Sandeep Gosain (Judicial Member)

section (3) thereof, would have no bearing on the merits of the case. The decision by the first appellate authority for that year, as for the current year, cannot bind this Tribunal, so that the matter cannot be regarded as covered, and would require being adjudicated by it on merits. The same would though be relevant and taken into account

DCIT, COCHIN vs. SHRI M GEORGE ( MUKKADAYIL JOSEPH GEORGE), COCHIN

In the result, the Revenue’s appeal is allowed

Bench: Shri Sanjay Arora & Shri Manomohan Dasdy. Cit, Circle 2(1), Range – 2 M.J. George C.R. Building, I.S. Press Road, Mukkadayil House Kochi 682018 Vs. Krishnaswamy Cross Road Ernakulam, Kochi - 682035 [Pan: Adgpg6991D] (Appellant) (Respondent) Revenue By: Sri Sajit Kumar Das, Cit-Dr Assessee By: Sri R. Lokanathan, Ca Date Of Hearing: 17.08.2023 Date Of Pronouncement: 31.10.2023 Order Per Sanjay Arora, Am This Is An Appeal By The Revenue Agitating The Allowance Of The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (The Act) Dated 31.12.2008 For Assessment Year (Ay) 2006-07, By The Commissioner Of Income Tax (Appeals)-2, Kochi [Cit(A)] Vide His Order Dated 31.03.2011. 2. The Facts Of The Case In Brief Are That The Assessee, An Individual, Who Had Returned His Income For The Year At Rs.63,420/- (From Business & Other Sources), Was Found To Have A Credit Of Rs.899.10 Lakhs In His Bank Account On 14.02.2006. The Same Was Explained In The Assessment Proceedings As Sale Proceeds Of 5.21 Acres Of Land At Kakkanad Village, Falling Under Thrikkakara Panchayat, Sold For Rs.977.10 Lakhs Vide Registered Sale Deed Dated 13.02.2006. The Sale Was In Pursuance Of An Agreement To Sell Dated 09.01.2006, Receiving Rs.78 Lakhs As Advance. The Said Land

section 2(14)(iii) of the Act, which reads as under, no income by way of capital gain arose on it’s transfer, and which explained in the non-returning thereof: “2. In this Act, unless the context otherwise requires,— (1) to (13)....... (14) "capital asset" means— (a) property of any kind held by an assessee, whether or not connected

MRS.GRACY BABU,ADOOR P.O., PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

price paid by him to the person renouncing such right and the amount paid by him to the company or institution, as the case may be, for acquiring such financial asset; (ab) in relation to a capital asset, being equity share or share allotted to a shareholder of a recognised stock exchange in India under a scheme for demutilisation

SRI.JOSE THOMAS,ADOOR P.O., PATHANAMTHITTA vs. THE ACIT,CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

price paid by him to the person renouncing such right and the amount paid by him to the company or institution, as the case may be, for acquiring such financial asset; (ab) in relation to a capital asset, being equity share or share allotted to a shareholder of a recognised stock exchange in India under a scheme for demutilisation

SRI.JOSE THOMAS,ADOOR P.O., PATHANAMTHITTA vs. THE ACIT,CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

price paid by him to the person renouncing such right and the amount paid by him to the company or institution, as the case may be, for acquiring such financial asset; (ab) in relation to a capital asset, being equity share or share allotted to a shareholder of a recognised stock exchange in India under a scheme for demutilisation

MRS.REENA JOSE,PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE,, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

price paid by him to the person renouncing such right and the amount paid by him to the company or institution, as the case may be, for acquiring such financial asset; (ab) in relation to a capital asset, being equity share or share allotted to a shareholder of a recognised stock exchange in India under a scheme for demutilisation

MRS.GRACY BABU,ADOOR P.O., PATHANAMTHITTA vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

price paid by him to the person renouncing such right and the amount paid by him to the company or institution, as the case may be, for acquiring such financial asset; (ab) in relation to a capital asset, being equity share or share allotted to a shareholder of a recognised stock exchange in India under a scheme for demutilisation

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

32. Coming to the technical issues raised by the assessee through various ground Nos. enumerated below: i. Challenging the validity of the assessment under section 153C of the Act on account of lack of proper approval under section 153D of the Act, ii. Challenging the validity of the assessment under section 153C of the Act on account of proper satisfaction

ABC SALES CORPORATION,KANNUR vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

32. Coming to the technical issues raised by the assessee through various ground Nos. enumerated below: i. Challenging the validity of the assessment under section 153C of the Act on account of lack of proper approval under section 153D of the Act, ii. Challenging the validity of the assessment under section 153C of the Act on account of proper satisfaction

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

32. Coming to the technical issues raised by the assessee through various ground Nos. enumerated below: i. Challenging the validity of the assessment under section 153C of the Act on account of lack of proper approval under section 153D of the Act, ii. Challenging the validity of the assessment under section 153C of the Act on account of proper satisfaction

ABC SALES CORPORATION,KANNUR vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

32. Coming to the technical issues raised by the assessee through various ground Nos. enumerated below: i. Challenging the validity of the assessment under section 153C of the Act on account of lack of proper approval under section 153D of the Act, ii. Challenging the validity of the assessment under section 153C of the Act on account of proper satisfaction

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

32. Coming to the technical issues raised by the assessee through various ground Nos. enumerated below: i. Challenging the validity of the assessment under section 153C of the Act on account of lack of proper approval under section 153D of the Act, ii. Challenging the validity of the assessment under section 153C of the Act on account of proper satisfaction

BATHX BATHWARE INDIA PRIVATE LIMITED,COCHIN vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

32. Coming to the technical issues raised by the assessee through various ground Nos. enumerated below: i. Challenging the validity of the assessment under section 153C of the Act on account of lack of proper approval under section 153D of the Act, ii. Challenging the validity of the assessment under section 153C of the Act on account of proper satisfaction

ABC BUILDWARES(P) LIMITED,KANNUR vs. ACIT, CENTRAL CIRCLE-1`, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

32. Coming to the technical issues raised by the assessee through various ground Nos. enumerated below: i. Challenging the validity of the assessment under section 153C of the Act on account of lack of proper approval under section 153D of the Act, ii. Challenging the validity of the assessment under section 153C of the Act on account of proper satisfaction

ABC SALES CORPORATION,KASARAGOD vs. ACIT, CENTRAL CIRCLE-1, KOZHIKODE

In the result, appeal of the assessee is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

32. Coming to the technical issues raised by the assessee through various ground Nos. enumerated below: i. Challenging the validity of the assessment under section 153C of the Act on account of lack of proper approval under section 153D of the Act, ii. Challenging the validity of the assessment under section 153C of the Act on account of proper satisfaction