M/S. APPOLLO TYRES LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

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

43(1). The unamended section 43A nowhere required as condition precedent for making necessary adjustment in the carrying amount of the fixed asset that there should be actual payment of the increased/decreased liability as a consequence of the exchange variation. The words used in the unamended section 43A were 'for making payment' and not 'on pay ment which

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

disallowing its claim for expenditure in the same amount. In relation to the Trust, the finding of the Tribunal, which is impugned in I.T.A.No.6/2021 filed by the Department in relation to assessment year 2010-11 is found in paragraphs 19 to 19.5, which read as follows: “19. The CIT(A) observed that the assessee had created a fresh asset

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

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

disallowing its claim for expenditure in the same amount. In relation to the Trust, the finding of the Tribunal, which is impugned in I.T.A.No.6/2021 filed by the Department in relation to assessment year 2010-11 is found in paragraphs 19 to 19.5, which read as follows: “19. The CIT(A) observed that the assessee had created a fresh asset

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

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

disallowing its claim for expenditure in the same amount. In relation to the Trust, the finding of the Tribunal, which is impugned in I.T.A.No.6/2021 filed by the Department in relation to assessment year 2010-11 is found in paragraphs 19 to 19.5, which read as follows: “19. The CIT(A) observed that the assessee had created a fresh asset

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

disallowing its claim for expenditure in the same amount. In relation to the Trust, the finding of the Tribunal, which is impugned in I.T.A.No.6/2021 filed by the Department in relation to assessment year 2010-11 is found in paragraphs 19 to 19.5, which read as follows: “19. The CIT(A) observed that the assessee had created a fresh asset

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.

disallowing its claim for expenditure in the same amount. In relation to the Trust, the finding of the Tribunal, which is impugned in I.T.A.No.6/2021 filed by the Department in relation to assessment year 2010-11 is found in paragraphs 19 to 19.5, which read as follows: “19. The CIT(A) observed that the assessee had created a fresh asset

M/S. INDITRADE CAPITAL LIMITED vs. COMMISSIONER OF INCOME TAX

Appeal is allowed, matter remitted to Income Tax

Bench: The Return Was Filed By The Assessee For The Subject Assessment Year. The Other Controversy Is

1) of section 139 in respect of the ITA No.1 of 2017 5 previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such payment is furnished by the assessee along with such return.” 4. According to Adv.Jose Jacob, the assessee had, admittedly, paid the gratuity amount before the return was filed

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

1) of section 36, or ITA Nos.62/2020, 66/2020 -5- (d) any sum payable by the assessee as interest on any loan or borrowing from any public financial institution or a State financial corporation or a State industrial investment corporation, in accordance with the terms and conditions of the agreement governing such loan or borrowing, or (da) any sum payable

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

43 OF 2019 AGAINST THE ORDER IN ITA 118/2018 DATED 14-08-2018 OF I.T.A.TRIBUNAL,COCHIN BENCH APPELLANT/S: THE PRINCIPAL COMMISSIONER OF INCOME TAX, KOTTAYAM. BY ADV. SRI.P.K.R.MENON,SENIOR COUNSEL, GOI (TAXES) RESPONDENT/S: THE PONKUNNAM SERVICE CO-OPERATIVE BANK LTD PONKUNNAM, KOTTAYAM 686 506 R1 BY ADV. DR.K.P.PRADEEP R1 BY ADV. SRI.SANAND RAMAKRISHNAN R1 BY ADV. SMT.NEENA ARIMBOOR

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. 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