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

disallowed under Section 40(a)(i) of the Act. The dis-allowance under Section 40(a)(i) was on the ground that the commission paid was fees for technical services on which tax is deductible at source, which the assessee failed to deduct. The amount shown as commission paid to the non-resident was added to I.T.A.No

APOLLO TYRES LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

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

disallowance of deduction under Section 35(2AB) of the Income Tax Act?” The circumstances noted by the Assessing Officer in ITA No.225/2019 in respect of the present controversy are referred to and the same would be sufficient for consideration and ITA Nos.225 & 238/2019 -5- disposing of the other appeal as well. ITA No.225/2019 3. The assessee

APOLLO TYRES LTD. vs. THE ASSISTANT COMMISSIONER OF INCOME TAX,

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

disallowance of deduction under Section 35(2AB) of the Income Tax Act?” The circumstances noted by the Assessing Officer in ITA No.225/2019 in respect of the present controversy are referred to and the same would be sufficient for consideration and ITA Nos.225 & 238/2019 -5- disposing of the other appeal as well. ITA No.225/2019 3. The assessee

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

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

iii) where the capital asset became the property of the assessee on the distribution of the capital asset of a company on its liquidation and the assessee has been assessed to income tax under the head "Capital gains" in respect of that asset under section 46, means the fair market value of the asset on the date of distribution

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

iii) where the capital asset became the property of the assessee on the distribution of the capital asset of a company on its liquidation and the assessee has been assessed to income tax under the head "Capital gains" in respect of that asset under section 46, means the fair market value of the asset on the date of distribution

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

iii) where the capital asset became the property of the assessee on the distribution of the capital asset of a company on its liquidation and the assessee has been assessed to income tax under the head "Capital gains" in respect of that asset under section 46, means the fair market value of the asset on the date of distribution

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.

iii) where the capital asset became the property of the assessee on the distribution of the capital asset of a company on its liquidation and the assessee has been assessed to income tax under the head "Capital gains" in respect of that asset under section 46, means the fair market value of the asset on the date of distribution

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

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

iii) where the capital asset became the property of the assessee on the distribution of the capital asset of a company on its liquidation and the assessee has been assessed to income tax under the head "Capital gains" in respect of that asset under section 46, means the fair market value of the asset on the date of distribution

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

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

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

iii) Whether the amount of Rs.1,25,12,348/- claimed as quality loss paid by the assessee to M/s. Apollo Tyres Limited is liable to be deducted? 3. The assessee is a tyre manufacturing company, earlier known as Premier Tyres Ltd. and later renamed as M/s.PTL. It was incorporated on 29.10.1959 with the object of carrying on the business

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

iii) Whether the amount of Rs.1,25,12,348/- claimed as quality loss paid by the assessee to M/s. Apollo Tyres Limited is liable to be deducted? 3. The assessee is a tyre manufacturing company, earlier known as Premier Tyres Ltd. and later renamed as M/s.PTL. It was incorporated on 29.10.1959 with the object of carrying on the business

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

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

iii) Whether the amount of Rs.1,25,12,348/- claimed as quality loss paid by the assessee to M/s. Apollo Tyres Limited is liable to be deducted? 3. The assessee is a tyre manufacturing company, earlier known as Premier Tyres Ltd. and later renamed as M/s.PTL. It was incorporated on 29.10.1959 with the object of carrying on the business

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

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

iii) Whether the amount of Rs.1,25,12,348/- claimed as quality loss paid by the assessee to M/s. Apollo Tyres Limited is liable to be deducted? 3. The assessee is a tyre manufacturing company, earlier known as Premier Tyres Ltd. and later renamed as M/s.PTL. It was incorporated on 29.10.1959 with the object of carrying on the business

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

iii) Whether the amount of Rs.1,25,12,348/- claimed as quality loss paid by the assessee to M/s. Apollo Tyres Limited is liable to be deducted? 3. The assessee is a tyre manufacturing company, earlier known as Premier Tyres Ltd. and later renamed as M/s.PTL. It was incorporated on 29.10.1959 with the object of carrying on the business

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

iii) Whether the amount of Rs.1,25,12,348/- claimed as quality loss paid by the assessee to M/s. Apollo Tyres Limited is liable to be deducted? 3. The assessee is a tyre manufacturing company, earlier known as Premier Tyres Ltd. and later renamed as M/s.PTL. It was incorporated on 29.10.1959 with the object of carrying on the business

THE RAHABILITATION PLANTATION LTD. vs. COMMISSIONER OF INCOME TAX

Appeal is allowed in part as indicated above

Bench: The Income Tax Appellate Tribunal, Cochin Bench. The Subject Matter Of Appeal Relates To Assessment Year 2008-09 & The Controversies Relate To The Allowance Claimed By The Assessee Towards The Replantation Of Rubber Plants In An Area Where Rubber Trees Were Planted & Have Become Unproductive & Are Not In An Abandoned Area As Required By Rule 7A (2) Of The Income Tax Rules 1962, The Deduction Of Expenditure Incurred Towards Upkeep & Maintenance Of Rubber Saplings Till Maturity Or The Trees Yield & The Loss Incurred At The Rubber Sheet Factory.

1 (2012) 251 CTR 343 (Ker.) ITA NO. 37 OF 2018 -4- “In the computation of business income under Rule 7A of the Rule 1962, the assessee under Rule 7A(2) is entitled to an allowance in respect of the cost of replacement of dead and useless rubber trees in the rubber plantation in an area not abandoned, subject

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

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

disallowance confirmed by the CIT (Appeals) and treating ITA Nos.757/2009 and batch cases 17 the receipts from ATL as income from other sources, the assessee filed IT Appeal No.346/Coch/2003. Through the order in Annexure-C the appeal filed by the assessee was allowed and the Tribunal held that the lease rental received by the assessee from ATL under rehabilitation scheme

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

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

disallowance confirmed by the CIT (Appeals) and treating ITA Nos.757/2009 and batch cases 17 the receipts from ATL as income from other sources, the assessee filed IT Appeal No.346/Coch/2003. Through the order in Annexure-C the appeal filed by the assessee was allowed and the Tribunal held that the lease rental received by the assessee from ATL under rehabilitation scheme

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

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

disallowance confirmed by the CIT (Appeals) and treating ITA Nos.757/2009 and batch cases 17 the receipts from ATL as income from other sources, the assessee filed IT Appeal No.346/Coch/2003. Through the order in Annexure-C the appeal filed by the assessee was allowed and the Tribunal held that the lease rental received by the assessee from ATL under rehabilitation scheme