THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. SMT.GRACY BABU,

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

1), the argument before the Supreme Court was arising out of the return of income of the assessee. The amount received by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

1), the argument before the Supreme Court was arising out of the return of income of the assessee. The amount received by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into

THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. GRACY BABU,

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

1), the argument before the Supreme Court was arising out of the return of income of the assessee. The amount received by the asessee on surrender of tenancy right, whether liable to capital gains under section 45 of the Income Tax Act, 1961 was involved in that appeal before the Supreme Court. There was a lease agreement entered into

M/S.CARBON AND CHEMICALS (INDIA) LTD vs. THE COMMISSIONER OF INCOMETAX, KOCHI

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

11. Once the aforesaid conditions are satisfied, the deeming provision enacted in the closing part of Section 41(1)(a) of the Act gets attracted and the amount obtained becomes chargeable to income tax as profits and gains of business or profession. Reference to the above propositions can be derived from the decisions laid down by the Supreme Court

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S. APOLLO TYRES LTD

Appeal is allowed in part as indicated

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM

gain for adjustment against cost of assets as per section 43A on actual payment restricted to : 4,72,34,591 6 Disallowance of claim of MTM loss on forward contract as deduction : 98,10,765 ITA No.44/2017 -5- 7 Disallowance of claim of prepaid expenses as deduction : 5,15,34,726 2.2 We have heard learned Counsel Mr Christopher Abraham

M/S. APPOLLO TYRES LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM

1 (2019) 416 ITR 539 (Ker) I.T.A. No. 249/2015 -17- become final between the assessee and the Revenue. The underlined portion excerpted above is liable to be set aside for it treats the capital gain as revenue receipt. From the views taken by this Court, the receipt is treated as capital gain and this is accepted by the Tribunal. However

BHIMA JEWELLERS vs. COMMISSIONER OF INCOME TAX,

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

capital account has been treated as deemed income under Section 68 of the Income Tax Act (for short ‘the Act’). Therefore, it falls under one of the other heads under Section 14 of the Act. Once the deemed income becomes an income earned under one head or the other of Section 14, for the relevant assessment year, there

THE COMMISSIONER OF INCOME TAX-1, KOCHI vs. M/S.COCHIN MALABAR ESTATES & INDUSTRIES LTD.

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

11,96,323/-. On 28.10.1997 income tax return was processed and a refund of Rs.6,08,136/- was ordered in favour of the assessee. Subsequently, scrutiny notice under Section 143(2) of the Act was issued to the assessee. The Assessing Officer, in the scrutiny assessment, examined the sale of schedule property by MoA dated 01.12.1995 read with sale deed

THE COMMISSIONER OF INCOME TAX, vs. DHANALAKSHMI BANK LTD., TRICHUR

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

capital gain, the entire I.T.A. No.485/2009 -12- claim of Rs.30 lakhs cannot be allowed in an order purported to be a rectification order on the ground that it is made a mistake in the earlier order assuming wrongly that it has the power to restrict the allowance to a reasonable extent. In this way, I am of the opinion that

THE MEENACHIL CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD., vs. THE INCOME TAX OFFICER,

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

1] words importing the masculine gender shall be taken to include females; and [2] words in singular shall include the plural, and vice-versa'. In the instant case, there is nothing in the Section to suggest that the definition restricts the applicability of section 80P only to agricultural and rural development banks having its area of operation in a single

M/S.KOTTAYAM CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK LTD. vs. THE INCOME TAX OFFICER

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

1] words importing the masculine gender shall be taken to include females; and [2] words in singular shall include the plural, and vice-versa'. In the instant case, there is nothing in the Section to suggest that the definition restricts the applicability of section 80P only to agricultural and rural development banks having its area of operation in a single

THE MEENACHIL CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK LTD. vs. THE INCOME TAX OFFICER

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

1] words importing the masculine gender shall be taken to include females; and [2] words in singular shall include the plural, and vice-versa'. In the instant case, there is nothing in the Section to suggest that the definition restricts the applicability of section 80P only to agricultural and rural development banks having its area of operation in a single

M/S.APOLLO TYRES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

11. The learned Standing Counsel for the Department, on the other hand, submitted that the loss incurred by the assessee was on account of the loan availed for purchasing a capital asset in South Africa through the subsidiary companies and as it was intended for procuring a capital asset, the loss was not allowable as a deduction since it could

TRAVANCORE SUGARS AND CHEMICALS LTD vs. DEPUTY COMMSSR;INCOME TAX,C-I,THIRUVALLA

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS,HONOURABLE MR.JUSTICE BASANT BALAJI

11 OF 2008 AGAINST THE ORDER IN ITA 297/2006 OF I.T.A.TRIBUNAL,COCHIN BENCH APPELLANT/S: TRAVANCORE SUGARS AND CHEMICALS LTD. VALANJAVATTOM, THIRUVALLA. BY ADVS. SRI RAJA KANNAN, SRI.E.K.NANDAKUMAR; SRI.ANIL D. NAIR RESPONDENT/S: COMMISSIONER OF INCOME TAX, COCHIN BY ADV SRI.JOSE JOSEPH, SC, FOR INCOME TAX OTHER PRESENT: ADV RAJA KANNAN FOR THE APPELLANT THIS INCOME TAX APPEAL HAVING COME

TRAVANCORE SUGARS AND CHEMICALS LTD. vs. COMMISSIONER OF INCOME TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS,HONOURABLE MR.JUSTICE BASANT BALAJI

11 OF 2008 AGAINST THE ORDER IN ITA 297/2006 OF I.T.A.TRIBUNAL,COCHIN BENCH APPELLANT/S: TRAVANCORE SUGARS AND CHEMICALS LTD. VALANJAVATTOM, THIRUVALLA. BY ADVS. SRI RAJA KANNAN, SRI.E.K.NANDAKUMAR; SRI.ANIL D. NAIR RESPONDENT/S: COMMISSIONER OF INCOME TAX, COCHIN BY ADV SRI.JOSE JOSEPH, SC, FOR INCOME TAX OTHER PRESENT: ADV RAJA KANNAN FOR THE APPELLANT THIS INCOME TAX APPEAL HAVING COME

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

1 and 2 refer to the controversy in reopening the assessment and whether the circumstances now stated by the AO come within jurisdiction of AO for reopening the assessment completed under Section 143(3) of the Act. Substantial Question Nos.3 to 5 relate to whether the lease rental received by the assessee for the subject assessment years, constitutes income from

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

1 and 2 refer to the controversy in reopening the assessment and whether the circumstances now stated by the AO come within jurisdiction of AO for reopening the assessment completed under Section 143(3) of the Act. Substantial Question Nos.3 to 5 relate to whether the lease rental received by the assessee for the subject assessment years, constitutes income from

THE COMMISSIONER OF INCOME TAX, vs. PTL ENTERPRISES LIMITED,

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

1 and 2 refer to the controversy in reopening the assessment and whether the circumstances now stated by the AO come within jurisdiction of AO for reopening the assessment completed under Section 143(3) of the Act. Substantial Question Nos.3 to 5 relate to whether the lease rental received by the assessee for the subject assessment years, constitutes income from