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

disallowed the said item on the ground that finance charges paid to COFACE on the foreign currency loan were in the nature of interest and commitment charges and since the charges have been paid in relation to the project of manufacturing phosphoric acid which did not commence production during the assessment year under consideration, the expenses incurred were capital

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

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

APOLLO TYRES LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

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

2 2007-08; dtd.31.03.2015 ITA NO.43/R-1/CIT(A)-I/2015- 16 DT.31.03.2017 ITA NO.249/COCH/2018 DTD 21.03.2019 238/2019 2.2 The appeals are admitted on the following substantial question of law. “Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in confirming the disallowance of deduction under Section 35

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

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

2 2007-08; dtd.31.03.2015 ITA NO.43/R-1/CIT(A)-I/2015- 16 DT.31.03.2017 ITA NO.249/COCH/2018 DTD 21.03.2019 238/2019 2.2 The appeals are admitted on the following substantial question of law. “Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in confirming the disallowance of deduction under Section 35

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

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

2) thereof clarifies that for the purposes of sections 48 and 49. "cost of acquisition" in on to a capital asset, being goodwill of a business or a trade mark or brand name associated with a business or a right to manufacture, produce or process any article or thing or right to carry on any business, tenancy rights, stage carriage

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

2) thereof clarifies that for the purposes of sections 48 and 49. "cost of acquisition" in on to a capital asset, being goodwill of a business or a trade mark or brand name associated with a business or a right to manufacture, produce or process any article or thing or right to carry on any business, tenancy rights, stage carriage

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.

2) thereof clarifies that for the purposes of sections 48 and 49. "cost of acquisition" in on to a capital asset, being goodwill of a business or a trade mark or brand name associated with a business or a right to manufacture, produce or process any article or thing or right to carry on any business, tenancy rights, stage carriage

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

2) thereof clarifies that for the purposes of sections 48 and 49. "cost of acquisition" in on to a capital asset, being goodwill of a business or a trade mark or brand name associated with a business or a right to manufacture, produce or process any article or thing or right to carry on any business, tenancy rights, stage carriage

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

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

2) thereof clarifies that for the purposes of sections 48 and 49. "cost of acquisition" in on to a capital asset, being goodwill of a business or a trade mark or brand name associated with a business or a right to manufacture, produce or process any article or thing or right to carry on any business, tenancy rights, stage carriage

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

disallowed the depreciation claimed. The Assessing Officer adjusted the actual cost of assets of the assessee in the assessment year 2009- 10 as follows: STATEMENT DEPRECIATION AS ON 31/03/2009 SHOWING DEDUCTION OF SUBSIDY RECEIVED: - Block of asset WDV as on 01/04/2008 as per 143(3) order dated 15/12/2010 for A.Y 2008-09 Subsidy Gross Value after subsidy 1 Buildings

K.A.RAUF vs. COMMISSIONER OF INCOME TAX

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

2 2005-06 ITA No. 502/Coch/2015 I.T.A No.52/2018 √ X X X X X X 3 2006-07 ITA No. 503/Coch/2015 I.T.A No.58/2018 √ √ X X √ X X 4 2007-08 ITA No. 504/Coch/2015 I.T.A No.55/2018 √ √ √ X √ X X 5 2008-09 ITA No. 505/Coch/2015 I.T.A No.60/2018 √ X √ X √ X X 6 2009-10 ITA No. 494/Coch/2015 I.T.A No.63/2018

K.A.RAUF vs. COMMISSIONER OF INCOMETAX

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

2 2005-06 ITA No. 502/Coch/2015 I.T.A No.52/2018 √ X X X X X X 3 2006-07 ITA No. 503/Coch/2015 I.T.A No.58/2018 √ √ X X √ X X 4 2007-08 ITA No. 504/Coch/2015 I.T.A No.55/2018 √ √ √ X √ X X 5 2008-09 ITA No. 505/Coch/2015 I.T.A No.60/2018 √ X √ X √ X X 6 2009-10 ITA No. 494/Coch/2015 I.T.A No.63/2018

K.A.RAUF, vs. COMMISSIONER OF INCOMETAX,

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

2 2005-06 ITA No. 502/Coch/2015 I.T.A No.52/2018 √ X X X X X X 3 2006-07 ITA No. 503/Coch/2015 I.T.A No.58/2018 √ √ X X √ X X 4 2007-08 ITA No. 504/Coch/2015 I.T.A No.55/2018 √ √ √ X √ X X 5 2008-09 ITA No. 505/Coch/2015 I.T.A No.60/2018 √ X √ X √ X X 6 2009-10 ITA No. 494/Coch/2015 I.T.A No.63/2018

K.A.RAUG vs. COMMISSIONER OF INCOME TAX

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

2 2005-06 ITA No. 502/Coch/2015 I.T.A No.52/2018 √ X X X X X X 3 2006-07 ITA No. 503/Coch/2015 I.T.A No.58/2018 √ √ X X √ X X 4 2007-08 ITA No. 504/Coch/2015 I.T.A No.55/2018 √ √ √ X √ X X 5 2008-09 ITA No. 505/Coch/2015 I.T.A No.60/2018 √ X √ X √ X X 6 2009-10 ITA No. 494/Coch/2015 I.T.A No.63/2018

K.A.RAUF vs. COMMISSIONER OF INCOME TAX

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

2 2005-06 ITA No. 502/Coch/2015 I.T.A No.52/2018 √ X X X X X X 3 2006-07 ITA No. 503/Coch/2015 I.T.A No.58/2018 √ √ X X √ X X 4 2007-08 ITA No. 504/Coch/2015 I.T.A No.55/2018 √ √ √ X √ X X 5 2008-09 ITA No. 505/Coch/2015 I.T.A No.60/2018 √ X √ X √ X X 6 2009-10 ITA No. 494/Coch/2015 I.T.A No.63/2018

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

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

2(14) is not a word of art but a word of commercial implication. The bottom line is the availability of assets, activities carried out for exploiting the assets and that the assessee is not a mere onlooker in the activities of the company or a passive recipient of rent for utilization of facilities. 18. Applying the above ratio

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

2(14) is not a word of art but a word of commercial implication. The bottom line is the availability of assets, activities carried out for exploiting the assets and that the assessee is not a mere onlooker in the activities of the company or a passive recipient of rent for utilization of facilities. 18. Applying the above ratio

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

2(14) is not a word of art but a word of commercial implication. The bottom line is the availability of assets, activities carried out for exploiting the assets and that the assessee is not a mere onlooker in the activities of the company or a passive recipient of rent for utilization of facilities. 18. Applying the above ratio