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

37(1) of the Act. However, the assessing officer disallowed the loss. It was held that the expenditure incurred by the subsidiary company for its business was not allowable in the hands of the holding company as the subsidiary company was a separate legal entity and also that the expenditure incurred for acquisition of a capital asset was a capital

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

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

10 to the first party in the agreement dt. 10.03.2009 within one month from today.” I.T.A.Noa.48, 46, 47, 49, 51, 54, 55, 56 & 68/20 & 6/21 :: 29 :: 12.8 The Believers Church had disclosed this construction in its Balance Sheet as on 31/03/2010 and 31/03/2011. Being so, there was construction activity and the Believers Church paid the contract amount to these

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

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

10 to the first party in the agreement dt. 10.03.2009 within one month from today.” I.T.A.Noa.48, 46, 47, 49, 51, 54, 55, 56 & 68/20 & 6/21 :: 29 :: 12.8 The Believers Church had disclosed this construction in its Balance Sheet as on 31/03/2010 and 31/03/2011. Being so, there was construction activity and the Believers Church paid the contract amount to these

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

10 to the first party in the agreement dt. 10.03.2009 within one month from today.” I.T.A.Noa.48, 46, 47, 49, 51, 54, 55, 56 & 68/20 & 6/21 :: 29 :: 12.8 The Believers Church had disclosed this construction in its Balance Sheet as on 31/03/2010 and 31/03/2011. Being so, there was construction activity and the Believers Church paid the contract amount to these

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

10 to the first party in the agreement dt. 10.03.2009 within one month from today.” I.T.A.Noa.48, 46, 47, 49, 51, 54, 55, 56 & 68/20 & 6/21 :: 29 :: 12.8 The Believers Church had disclosed this construction in its Balance Sheet as on 31/03/2010 and 31/03/2011. Being so, there was construction activity and the Believers Church paid the contract amount to these

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.

10 to the first party in the agreement dt. 10.03.2009 within one month from today.” I.T.A.Noa.48, 46, 47, 49, 51, 54, 55, 56 & 68/20 & 6/21 :: 29 :: 12.8 The Believers Church had disclosed this construction in its Balance Sheet as on 31/03/2010 and 31/03/2011. Being so, there was construction activity and the Believers Church paid the contract amount to these

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

depreciation and repair charges aggregating to Rs.27,27,505/- relating to the let out properties. Both the parties have pointed out that a similar disallowance made in preceding year was confirmed by the Tribunal in ITA No.426/Coch/2006. By the immediately following the said order of the Tribunal, we set aside the order of Ld CIT(A) on this issue

MALANKARA PLANTATIONS LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: The Income Tax Appellate Tribunal, Cochin Bench. The Subject Matter Of Appeal Relates To Assessment Year 2011-12 & The Controversies Relate To The Allowance Claimed By The Assessee Towards The Replantation Of Rubber Plants In An Area Where Rubber Trees

10(31) of Act 1961. The upkeep and maintenance expenses incurred by the assessee till the maturity of rubber trees are revenue expenditures eligible for I.T.A. No.23/2018 -5- deduction under Section 37 of Act 1961.” 4. The assessee raises the following substantial questions of law: “1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal

PTL ENTERPRISES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME TAX

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

section 154? (ii) Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in law in sustaining the order of rectification passed by the Assessing Officer on 16.10.2008 when the CIT(A) had already recorded a fining that the appellant had continued its business during the year and no mistake was apparent from record

M/S PTL ENTERPRISES LTD., vs. THE DEPUTY COMMISSIONER OF INCOME-TAX,

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

section 154? (ii) Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in law in sustaining the order of rectification passed by the Assessing Officer on 16.10.2008 when the CIT(A) had already recorded a fining that the appellant had continued its business during the year and no mistake was apparent from record

PTL ENTERPRISES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME-TAX

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

section 154? (ii) Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in law in sustaining the order of rectification passed by the Assessing Officer on 16.10.2008 when the CIT(A) had already recorded a fining that the appellant had continued its business during the year and no mistake was apparent from record

PTL ENTERPRISES LTD. vs. THE DEPUTY COMMISSONER OF INCOME TX

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

section 154? (ii) Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in law in sustaining the order of rectification passed by the Assessing Officer on 16.10.2008 when the CIT(A) had already recorded a fining that the appellant had continued its business during the year and no mistake was apparent from record

M/S.PTL ENTERPRISES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME-TAX

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

section 154? (ii) Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in law in sustaining the order of rectification passed by the Assessing Officer on 16.10.2008 when the CIT(A) had already recorded a fining that the appellant had continued its business during the year and no mistake was apparent from record

M/S.PTL ENTERPRISES LTD. (FORMERLY PREMIER TYRES LTD) vs. THE ASSISTNAT COMMISSIONER OF INCOME TAX, CIRCLE-2(1),RANGE-2, ERNAKULAM

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

section 154? (ii) Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in law in sustaining the order of rectification passed by the Assessing Officer on 16.10.2008 when the CIT(A) had already recorded a fining that the appellant had continued its business during the year and no mistake was apparent from record

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

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

Sections 28 to 44 of the Act irrespective of doing business. He prays for answering substantial question Nos. 3 to 5 in favour of revenue and against the assessee. 10. Senior Adv.Mr.Joseph Markose argues that the assessee moved BIFR in 1987 and the case of assessee has been taken up for enquiry in 1991, BIFR found that the assessee could

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

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

Sections 28 to 44 of the Act irrespective of doing business. He prays for answering substantial question Nos. 3 to 5 in favour of revenue and against the assessee. 10. Senior Adv.Mr.Joseph Markose argues that the assessee moved BIFR in 1987 and the case of assessee has been taken up for enquiry in 1991, BIFR found that the assessee could

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

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

Sections 28 to 44 of the Act irrespective of doing business. He prays for answering substantial question Nos. 3 to 5 in favour of revenue and against the assessee. 10. Senior Adv.Mr.Joseph Markose argues that the assessee moved BIFR in 1987 and the case of assessee has been taken up for enquiry in 1991, BIFR found that the assessee could

M/S.ESCAPADE RESORTS PVT.LTD. vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

The appeal is allowed in part as indicated above

Bench: The Commissioner Of Income Tax (Appeals)-Ii (For Short, ‘Cit(Appeals)’) & Through Annexure-C Order Dated 02.12.2013, The Appeal Was Allowed In Part. The Assessee Carried The Matter In Appeal Before The Income Tax Appellate Tribunal (For Short, 'The Tribunal') & Through The Order Impugned In The Appeal

37 of the Act also. Moreover, this expenditure has not been incurred during the relevant previous year. Considering all these, claim of the assessee is rejected. However, since it is a capital asset coming under Plant and Machinery, depreciation @15% is granted on it. The resultant disallowance comes