ITAT Cochin partially allowed an NRI assessee’s appeal, restricting the disallowance of construction costs to Rs. 10 lakhs from Rs. 1.3 crore and deleting the cost of improvement, citing lack of documentary evidence.
Cochin ITAT confirms additions against Sreepathy Trust for AY 2013-14 and 2016-17 due to insufficient evidence for cash credits under Section 68 of the Income-tax Act.
ITAT Cochin confirms ₹1.05 Cr cash deposit addition for AY 2017-18. Assessee failed to explain source from fish sales, and new evidence was rejected as belated.
ITAT Cochin rules in favor of assessee Chemangattu Jose John, deleting Section 69A addition related to property sale consideration discrepancy, citing transparent bank receipts.
This appeal concerns a trust’s income tax exemption and the utilization of accumulated income. The Tribunal reviewed whether the initial assessment, which did not tax past surpluses, was erroneous, and allowed the trust’s appeal.
This case examines whether extensive hotel renovations are revenue or capital expenditures under the Income Tax Act, analyzing arguments from the Revenue and the assessee, and referencing key court decisions.
ITAT Cochin rules CPC cannot deny Section 11 exemption for delayed Form 10B filing under Section 143(1)(a), remands case for re-evaluation.
ITAT Cochin dismisses Vellanikkara Service Co-op. Bank’s appeal regarding disallowance of gratuity provision, citing grounds not raised before CIT(A).
ITAT Cochin remands 44AB penalty case, stating sufficient cause for delay should be considered over its length for condoning appeal filing delays.
ITAT Cochin rules CPC cannot deny charitable trust’s exemption under Section 11 for delayed filing of audit report in Form 10B.
