ENANALLOOR SERVICE CO-OPERATIVE BANK LIMITED vs. THE INCOME TAX OFFICER (1 AND C)

In the result, this Original Petition is allowed by quashing

Bench: HONOURABLE MR.JUSTICE C.K.ABDUL REHIM,HONOURABLE MR. JUSTICE AMIT RAWAL

HOUSE, VADAVATHUR P.O, KOTTAYAM DISTRICT,PIN -686 001. 5 THE REGISTRAR DEBT RECOVERY TRIBUNAL-2, ERNAKULAM, PANAMPALLY NAGAR, KOCHI-682 036. R1& R2 BY ADV. SRI.V.K.PEERMOHAMED KHAN R1& R2 BY ADV. SRI.V.RENJITH R3 BY ADV. SRI.K.M.ANEESH R4 BY ADV. SRI.M.RAJENDRAN NAIR R4 BY ADV. SMT.M.SANTHY THIS OP (DEBT RECOVERY TRIBUNAL) HAVING BEEN FINALLY HEARD ON 02.11.2020, THE COURT

THE COMMISSIONER OF INCOME TAX-1, KOCHI vs. M/S.COCHIN MALABAR ESTATES & INDUSTRIES LTD.

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

HOUSE,W.ISLAND,KOCHI-682003. BY ADVS. SRI.A.KUMAR SMTG.MINI(1748) SRI.P.J.ANILKUMAR SRI.P.S.SREE PRASAD THIS INCOME TAX APPEAL HAVING RESERVED FOR JUDGMENT ON 21.10.2021, THE COURT ON 28.10.2021 DELIVERED THE FOLLOWING: I.T.A. No.179/2014 -2- J U D G M E N T S.V. Bhatti, J. The Commissioner of Income Tax-1, Kochi/Revenue is the appellant. M/s. Cochin Malabar Estates & Industries Ltd, Kochi/assessee

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

Appeals are allowed as indicated above

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

house property chargeable under Section 22. 29. From the Tabular form presented above, it may be clear that the deductions available under Clauses (a) to (c) are activity-based. The deduction available under Clauses (d) and (e) are investment-based ITA Nos.142 & 323/2019; 5/2020 -24- and the deduction under Clause (f) is institution-based. To put it differently

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

Appeals are allowed as indicated above

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

house property chargeable under Section 22. 29. From the Tabular form presented above, it may be clear that the deductions available under Clauses (a) to (c) are activity-based. The deduction available under Clauses (d) and (e) are investment-based ITA Nos.142 & 323/2019; 5/2020 -24- and the deduction under Clause (f) is institution-based. To put it differently

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

house property; (D) Profits and gains of business or profession; (E) Capital gains; (F) income from other sources unless otherwise, provided in the Act. (15) Section 56 provides for the chargeability of income of every kind which has not to be excluded from the total income under the Act, only if it is not chargeable to income-tax under

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

house property; (D) Profits and gains of business or profession; (E) Capital gains; (F) income from other sources unless otherwise, provided in the Act. (15) Section 56 provides for the chargeability of income of every kind which has not to be excluded from the total income under the Act, only if it is not chargeable to income-tax under

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

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

house property; (D) Profits and gains of business or profession; (E) Capital gains; (F) income from other sources unless otherwise, provided in the Act. (15) Section 56 provides for the chargeability of income of every kind which has not to be excluded from the total income under the Act, only if it is not chargeable to income-tax under

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

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

house property; (D) Profits and gains of business or profession; (E) Capital gains; (F) income from other sources unless otherwise, provided in the Act. (15) Section 56 provides for the chargeability of income of every kind which has not to be excluded from the total income under the Act, only if it is not chargeable to income-tax under

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.

house property; (D) Profits and gains of business or profession; (E) Capital gains; (F) income from other sources unless otherwise, provided in the Act. (15) Section 56 provides for the chargeability of income of every kind which has not to be excluded from the total income under the Act, only if it is not chargeable to income-tax under

M/S. BHARATHAKSHEMAM vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX,

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

property held under Trust should have been either acquired with the help of the fund originally settled upon Trust or the same having a substantial and real connection with the commencement of the business by the Trustees. It was also held that the application of the income generated from the business is not the relevant consideration and what is relevant

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

house were assessable under Section 161 of the IT Act. The Hon’ble Supreme Court dealt with the provisions of the IT Act, specifically Sections 5(2), 9(1)(i), 160, 161 and 163. Section 5(2) of the Act deals with the chargeability of the income of a non-resident. The above provisions were dealt with in the following