ITAT Cochin

S. 195 not applies to Foreign agent commission & reimbursement of expenditure not taxable in India

Kannan Devan Hills Plantations Co. (P) Ltd. Vs ACIT (ITAT Cochin)

Foreign agent commission and reimbursement of expenditure were not taxable in India and hence, section 195 had no application....

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Running hospital with nursing school eligible for exemption U/s. 11

M/s.MAJ Hospital Edappally Vs The Dy.Commissioner of Income-tax (ITAT Cochin)

M/s. MAJ Hospital Edappally Vs DCIT (ITAT Cochin) Assessee is entitled to the exemption u/s 11 of the income derived from an activity incidental to the achievement of the objects of the trust. For these reasons, we hold that the assessee’s activities of running the hospital and the nursing school are intricately connected and dependent ...

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ITAT Condones Delay in filing appeal caused by fault of CA/ Counsel

M/s. Midas Polymer Compounds Pvt. Ltd. Vs The Assistant Commissioner of Income-tax (ITAT Cochin)

M/s. Midas Polymer Compounds Pvt. Ltd. Vs ACIT (ITAT Cochin) There was a delay of 2819 days in filing the appeal before the Tribunal. The assessee has stated the reasons in the condonation petition accompanied by an affidavit which has been cited in the earlier para. The assessee filed an affidavit explaining the reasons and […]...

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Delay in filing appeal can be condoned only based on explanation for delay

Catholic Syrian Bank Ltd. Vs DCIT (TDS) (ITAT Cochin)

Catholic Syrian Bank Ltd Vs DCIT (ITAT Cochin) In the present case, there were no affidavits from the concerned persons who are handling the impugned issues and who are required to take proper steps in filing the appeals before the CIT(A). In our opinion, the decision of the co-ordinate Bench is without doubt binding upon […]...

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It cannot be said that Land was not compulsorily acquired merely because Price was negotiated

Smt. Jayasree Sreedharan Vs ACIT (ITAT Cochin)

Smt. Jayasree Sreedharan Vs ACIT (ITAT Cochin) In the instant case, the entire procedure prescribed under the Land Acquisition Act was followed, the only price was fixed upon a negotiated settlement. Therefore, in view of the above judgment of the Hon’ble Apex Court (supra), we hold that the acquisition of the urban agricultural land wa...

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Mere Price negotiation do not change nature of compulsory acquisition of urban agricultural land

Smt. Girijakumari M. Vs ITO (ITAT Cochi)

Smt. Girijakumari M. Vs ITO (ITAT Cochi) Compensation for compulsory acquisition of urban agricultural land eligible for section 10(37) benefit The assessee’s 70 cents of land at Vizhinjam Village was notified for compulsory acquisition by Government of Kerala for developing Vizhinjam International Seaport. Though the acquisition procee...

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No Sec 80P Deduction to Co-operative Society Operating in more than One Taluk

ITOVs Ernakulam Cooperative Agricultural & Rural Development Bank Limited (ITAT Cochin)

ITO Vs Ernakulam Cooperative Agricultural & Rural Development Bank Limited (ITAT Cochin) Section 80P(2)(a)(i) was denied for two reasons by the Assessing Officer. The CIT(A) while allowing the claim of the assessee had not adjudicated the issue whether the assessee can be granted deduction u/s 80P, when the assessee’s area of operat...

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No TDS u/s. 194G on Sale of Lottery Ticket by Agent to Sub-Agent

The Assistant Commissioner of Income-tax Vs Smt. Biji Suresh (ITAT Cochin)

ACIT Vs Smt. Biji Suresh (ITAT Cochin) The provisions contained in section 194G of the Act provides for deduction of TDS by any person who is responsible for paying to any person, who is stocking, distributing, purchasing or selling lottery tickets, any income by way of commission, remuneration or prize on such tickets, at the […]...

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Interest on Delayed Payment of VAT and TDS allowable

ITO Vs M/s.Lakshdweep Development Corporation Limited (ITAT Cochin)

ITO Vs M/s. Lakshdweep Development Corporation Limited (ITAT Cochin) Interest on delayed payment of VAT and TDS is only compensatory and is not penal in nature. Therefore, the CIT(A) has correctly deleted the disallowance made for the interest expenditure claimed on delayed payment of VAT and TDS. FULL TEXT OF THE ITAT JUDGMENT These appe...

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CIT cannot invoke revisionary jurisdiction against draft assessment order

M/s. Apollo Tyres Limited Vs Addl. CIT (ITAT Cochin)

M/s. Apollo Tyres Limited Vs Addl. CIT (ITAT Cochin) A draft order, as such, is not appealable, except to be challenged by the assessee before the DRP, which exercises the power, inter alia, to make enhancement. The very rationale in the giving the power of enhancement to the DRP is to correct the draft order […]...

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