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

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

disallowance. Thus, the assessee has preferred this appeal under Section 260A of the Income Tax Act, 1961 (for short, 'the Act'). 3. It may be necessary to refer briefly to the circumstances of this case as pleaded by the assessee. With a view to expand its business, the assessee intended to take over the Dunlop Tyre Manufacturing Company in South

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

37 of the Act which is a special fund set up purely as a welfare measure for the benefit of employees which is also approved by the Registrar of Cooperative Societies? f. Whether on the facts and in the circumstances of the case, and in law the Appellate Tribunal was justified in not allowing deduction of the contributions made

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

4. The assessee challenges the said finding by framing the following question of law: I.T.A. No.26/2013 -8- “Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in holding the expenditure of Rs.56,35,059/- incurred by the assessee, in the showroom of its dealers for the purpose of promoting the sale

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.

Section 37 of Act 1961.” 4. The assessee raises the following substantial questions of law: “i) Whether on the facts and in the circumstances of the case the Appellate Tribunal was justified in disallowing

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

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 is right in confirming the disallowance

M/S.TOMCO ENGINEERING (P) LTD. vs. THE ASST. COMMISSIONER OF INCOME TAX,

Appeal is disposed of with the above

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

4 OF 2019 -3- Income Tax Act. 2. The assessing authority, by Annexure-B assessment order, disallowed the deduction as the assessee is debiting an expenditure which has not yet incurred. Relying on sections 36 and 37

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

4. if only a few of the business assets are let out temporarily while the assessee is carrying out his other business activities then it is a case of exploiting the business assets otherwise than employing them for his own use for making profit for that business; but if the business never started or has started but ceased with

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

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

4. if only a few of the business assets are let out temporarily while the assessee is carrying out his other business activities then it is a case of exploiting the business assets otherwise than employing them for his own use for making profit for that business; but if the business never started or has started but ceased with

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

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

4. if only a few of the business assets are let out temporarily while the assessee is carrying out his other business activities then it is a case of exploiting the business assets otherwise than employing them for his own use for making profit for that business; but if the business never started or has started but ceased with

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

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

4. if only a few of the business assets are let out temporarily while the assessee is carrying out his other business activities then it is a case of exploiting the business assets otherwise than employing them for his own use for making profit for that business; but if the business never started or has started but ceased with

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

4. if only a few of the business assets are let out temporarily while the assessee is carrying out his other business activities then it is a case of exploiting the business assets otherwise than employing them for his own use for making profit for that business; but if the business never started or has started but ceased with

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

4. if only a few of the business assets are let out temporarily while the assessee is carrying out his other business activities then it is a case of exploiting the business assets otherwise than employing them for his own use for making profit for that business; but if the business never started or has started but ceased with

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. DHANALAXMI BANK LTD

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.

37,80,796/-. While the assessment under Section 143(3) of the Income Tax Act was completed on 07.12.2017, by disallowing an amount of Rs.1,80,04,849/- under Section 14A of the Income Tax Act, the said order was set aside by the Principal Commissioner of Income Tax, Thrissur, by an order dated 18.12.2018 finding the assessment order

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

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

4 of the agreement other than the amount already appropriated towards the cost of construction. 5. The 2nd parties 1 to 3 and 8 to 11 will settle the accounts in respect of the balance amount due to the 1st party from the payment of Rs.9 crores in the event if requires so. 6. The 2nd party i.e. parties

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

4 of the agreement other than the amount already appropriated towards the cost of construction. 5. The 2nd parties 1 to 3 and 8 to 11 will settle the accounts in respect of the balance amount due to the 1st party from the payment of Rs.9 crores in the event if requires so. 6. The 2nd party i.e. parties

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

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

4 of the agreement other than the amount already appropriated towards the cost of construction. 5. The 2nd parties 1 to 3 and 8 to 11 will settle the accounts in respect of the balance amount due to the 1st party from the payment of Rs.9 crores in the event if requires so. 6. The 2nd party i.e. parties

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

4 of the agreement other than the amount already appropriated towards the cost of construction. 5. The 2nd parties 1 to 3 and 8 to 11 will settle the accounts in respect of the balance amount due to the 1st party from the payment of Rs.9 crores in the event if requires so. 6. The 2nd party i.e. parties

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.

4 of the agreement other than the amount already appropriated towards the cost of construction. 5. The 2nd parties 1 to 3 and 8 to 11 will settle the accounts in respect of the balance amount due to the 1st party from the payment of Rs.9 crores in the event if requires so. 6. The 2nd party i.e. parties