M/S. KERALA STATE CO-OP.AGRICULTURAL & RURAL DEVELOPMENT BANK LTD. vs. COMMISSIONER OF INCOME TAX

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

disallowance under Section 40A(9) of the Act, leading to additions in the "profits of business" is susceptible to taxation independently, if the Appellant would be entitled to a complete deduction of income from "Profit of business" available to a cooperative society under Section 80P of the Act? ITA Nos.2, 6, 30 & 31/2017 -9- ITA No.30/2017 (i) After having held

M/S. DEVICE DRIVEN (INDIA) PVT. LTD. vs. THE COMMISSIONER OF INCOME TAX

Bench: HONOURABLE MR.JUSTICE K.VINOD CHANDRAN,HONOURABLE MR. JUSTICE T.R.RAVI

2. The appellant, a hundred percent Export Oriented Unit, is a Private Limited Company engaged in development and export of software. For the assessment year 2009-10, the appellant filed a return declaring a total income of Rs.17,204/-, after claiming deduction under Section 10B in respect of profit from export of software. Under Section 143(1) the return

THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. THE PONKUNNAM SERVICE CO-OPERATIVE BANK LTD

Appeals are allowed and remanded back

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

disallowed by the assessing officer on the ground that the assessee is primarily engaged in the business of banking. Having regard to such a finding, it was recorded that by operation of Section 80P(4), the assessee is not entitled to deduction under Section 80P(2) of the Act. The assessee aggrieved by the said order filed appeal before

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

143(3) for the assessment year 2009-10 in relation to the persons who were searched, namely, Gracy Babu, Jose Thomas and P.J. Paulose, who were the heads of the respective trustee families. No assessments in consequence to search were made in relation to other family members who were trustees by invoking provisions of Section 153C

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.

143(3) for the assessment year 2009-10 in relation to the persons who were searched, namely, Gracy Babu, Jose Thomas and P.J. Paulose, who were the heads of the respective trustee families. No assessments in consequence to search were made in relation to other family members who were trustees by invoking provisions of Section 153C

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

143(3) for the assessment year 2009-10 in relation to the persons who were searched, namely, Gracy Babu, Jose Thomas and P.J. Paulose, who were the heads of the respective trustee families. No assessments in consequence to search were made in relation to other family members who were trustees by invoking provisions of Section 153C

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

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

143(3) for the assessment year 2009-10 in relation to the persons who were searched, namely, Gracy Babu, Jose Thomas and P.J. Paulose, who were the heads of the respective trustee families. No assessments in consequence to search were made in relation to other family members who were trustees by invoking provisions of Section 153C

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

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

143(3) for the assessment year 2009-10 in relation to the persons who were searched, namely, Gracy Babu, Jose Thomas and P.J. Paulose, who were the heads of the respective trustee families. No assessments in consequence to search were made in relation to other family members who were trustees by invoking provisions of Section 153C

SUDARSANAN P.S vs. COMMISSIONER OF INCOME TAX

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

2 to Section 93 of the Amendment Act will come into effect from 01.04.2007, Section 54 of the Finance Act, 2007 which amends Section 194C of the Act specifies that the amendment in 194C will be substituted with effect from 01.06.2007. Thus, it is beyond the pale of any dispute, that the liability for deducting tax at source for payments

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. USHA MURUGAN

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

Section 143(2) of the Act. The notice refers to alleged impermissible deduction of Rs.7,72,66,051/- received and transferred by the assessee, to agents towards incentive for the prize money realised from the tickets sold by them. According to the assessee, there is no relationship of I.T.A. Nos. 18, 13 & 29/2017 -7- Principal and Agent between the assessee

M/S. KINFRA EXPORT PROMOTION INDUSTRIAL PARKS LTD., vs. THE JOINT COMMISSIONER OF INCOME TAX (OSD)

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

Section 43(1). 2 (2022) 2 SCC 603 3(MANU/MH/1197/2019) ITA Nos.62&65/2018 16 9. Without prejudice to the main argument of applicability of Explanation and proviso to 43(1) of the Act, it is alternatively argued that orders impugned in the appeal are illegal and computation of written down value on a broad spectrum of all the assets

M/S. JOYALUKKAS INDIA LTD, vs. THE ASSISTANT COMMISSIONER OF INCOME TAX,

In the result, the appeal fails and the substantial questions

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

2. The appellant is engaged in the trading of textile materials, manufacturing and trading of jewellery. The return of income filed for the Annual Year 2010-11 by the appellant was processed under Section 143(1) and subsequently picked up for scrutiny and notice under Section 143 of the Income Tax Act ('the Act' for short) was issued

THE COMMISSIONER OF INCOME TAX-I, COCHIN vs. APPOLLO TYRES LTD.

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

disallowed as 'capital loss' and the advances amounting to Rs.2,32,93,575/- given for acquisition of revenue items subsequently written off are held as allowable under Section 37 of the Act as 'current expenses'. 2 (1974) 96 ITR 568 (J&K) 3 (1962) 46 ITR 649 (SC) 4 (1967) 66 ITR 710 (SC) I.T.A. No.172/2013 -6- 5.1 The present

THE COMMISSIONER OF INCOME TAX,TRICHUR vs. THE SOUTH INDIAN BANK LTD.,TRICHUR.

Appeal stands dismissed

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

disallowance of depreciation made by the Assessing Officer? 2. Whether, on the facts and in the circumstances of the case, the Tribunal is right in holding that the investments made by the assessee in approved government securities form part of its stock in trade and therefore, the claim of depreciation on the revaluation of the securities was rightly claimed

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

2 Claim of preoperative expenditure disallowed in the assessment made u/s. 143(3) r.w.s. 144C dt. 18/02/2015 was directed to be deleted : 4,70,07,847 3 Disallowance of claim of additional weighted deduction u/s.35(2AB) restricted to : 94,98,220 4 Disallowance of claim of loss on sale of investment in shares as deduction

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

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

Section 143(3) of the Income Tax Act, (for short ‘the Act’) dated 23.03.2000, among other heads, made the following additions/disallowances. I.T.A. No. 772/2009 -3- (1) Disallowance on the revaluation of current securities, (2

M/S. KUNNEL ENGINEERS AND CONTRACTORS (P) LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Appeals are allowed and remanded with the observations as

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

143(2) dated 23.09.2013 under the Income Tax Act, 1961 (for short, ‘the Act’) was issued by the Assessing Officer. In the appeals, the Court is concerned with an issue arising under Section 43B of the Act, which reads thus: “Certain deductions to be only actual payment. 43B. Notwithstanding anything contained in any other provision of this Act, a deduction

M/S. MINI MUTHOOTTU CREDIT vs. THE COMMISSIONER OF INCOME TAX

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

Section 143(2) of the IT Act and the assessment that followed, it was assessed to a total income of Rs.2,02,75,110/-. In arriving at the total income, the assessing officer disallowed