THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

c) the delegation is necessary, or (d) the beneficiary, being competent to contract, consents to the delegation." (17) It is true that S. 1 of the Indian Trusts Act makes provisions of the Act inapplicable to public or private religious or charitable endowments; and so, these sections may not in terms apply to the trust now in question. These sections

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.

c) the delegation is necessary, or (d) the beneficiary, being competent to contract, consents to the delegation." (17) It is true that S. 1 of the Indian Trusts Act makes provisions of the Act inapplicable to public or private religious or charitable endowments; and so, these sections may not in terms apply to the trust now in question. These sections

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

c) the delegation is necessary, or (d) the beneficiary, being competent to contract, consents to the delegation." (17) It is true that S. 1 of the Indian Trusts Act makes provisions of the Act inapplicable to public or private religious or charitable endowments; and so, these sections may not in terms apply to the trust now in question. These sections

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. APPOLO TYRES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME-TAX

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

6. Mr Christopher Abraham, learned Standing Counsel for the Department, contends that computation of the total income is dealt with by Section 14 of the Act and Section 14 classifies income under five heads, namely (i) salaries, (ii) income from house property, (iii) income from business profession (iv) income from capital gains, and (v) income from other sources. Each

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

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

1,03,92,000/- being year-end provision for payment of commission as an unascertained liability? 5.1 The assessee for the Assessment Year 2009-10 booked an expenditure of Rs.5,00,36,912/- towards commission paid to the selling agents of the assessee. The said expenditure included an amount of Rs.1,03,92,000/- representing provision made

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

C allowed the appeal filed by the assessee. The Tribunal firstly examined whether the schedule property is agricultural land or not. By referring to a few precedents on the point, recorded a finding that the schedule property was earlier used for agricultural purposes/rubber plantation, and that the possibility of using the schedule property for non-agricultural purposes (sic was stated

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, vs. DHANALAKSHMI BANK LTD., TRICHUR

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

6. Learned Advocate Mr. Mohan Pulickkal objects to consideration of any of the reasons stated in the notice issued under Section 154 of the Act to appreciate whether the mistake pointed out by the Assistant Commissioner of Income Tax is a mistake, as a matter of fact or not. According to him, the jurisdiction under Section 154 ought

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

6. The Assessing Officer, through an order dated 29.09.2015 (Annexure-A), has recorded the following finding: 14. In response, CA, Abraham K Thomas, authorised representative of the assesssee, has contended as follows: ``The amendment made to section 80P by insertion of sub-section (4) w.e.f. 01-04-2007 does not take away the applicability of the section to agricultural

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

6. The Assessing Officer, through an order dated 29.09.2015 (Annexure-A), has recorded the following finding: 14. In response, CA, Abraham K Thomas, authorised representative of the assesssee, has contended as follows: ``The amendment made to section 80P by insertion of sub-section (4) w.e.f. 01-04-2007 does not take away the applicability of the section to agricultural

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

6. The Assessing Officer, through an order dated 29.09.2015 (Annexure-A), has recorded the following finding: 14. In response, CA, Abraham K Thomas, authorised representative of the assesssee, has contended as follows: ``The amendment made to section 80P by insertion of sub-section (4) w.e.f. 01-04-2007 does not take away the applicability of the section to agricultural

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

6, the fact that it may indirectly be covered by another head will not make the income taxable under the latter head. Referring to Commercial Properties Ltd. v Commissioner of Income Tax9, it is also held that merely because the owner of the property was a company incorporated with the object of owning property, the incidence of income derived from

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

6, the fact that it may indirectly be covered by another head will not make the income taxable under the latter head. Referring to Commercial Properties Ltd. v Commissioner of Income Tax9, it is also held that merely because the owner of the property was a company incorporated with the object of owning property, the incidence of income derived from

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

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

capital, moved an application under Sec.15 of the Sick Industries (Special ITA Nos.757/2009 and batch cases 13 Provisions) Act 1985 (for short 'Act 1985') before the Board for Industrial and Financial Reconstruction (BIFR) for framing scheme under Act 1985. The application moved by the assessee was registered as Case No.023/91 (39/87). For disposal of appeals it is sufficient to note

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

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

capital, moved an application under Sec.15 of the Sick Industries (Special ITA Nos.757/2009 and batch cases 13 Provisions) Act 1985 (for short 'Act 1985') before the Board for Industrial and Financial Reconstruction (BIFR) for framing scheme under Act 1985. The application moved by the assessee was registered as Case No.023/91 (39/87). For disposal of appeals it is sufficient to note

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

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

capital, moved an application under Sec.15 of the Sick Industries (Special ITA Nos.757/2009 and batch cases 13 Provisions) Act 1985 (for short 'Act 1985') before the Board for Industrial and Financial Reconstruction (BIFR) for framing scheme under Act 1985. The application moved by the assessee was registered as Case No.023/91 (39/87). For disposal of appeals it is sufficient to note