339 ITR 351 (Guj), CIT v. Satya Narain Patni

L KARUPPUSAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. ITA No.1119/Chny/2025 & ‘60’ Others Mr. P. Palanisamy M/s. P.P. Financiers Mr. P. Kuppuchamy Mr. L. Karuppusamy M/s. P.P. Enterprises Mr. Palanisamy Raghupathy M/s.…

M/S. P.P. FINANCIERS,CHENNAI vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 निधारण वष/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 निधारण वष/Assessment Years: 2010-11 To 2014-15 & 2016-17 Mr. P. Palanisamy, 390, P.P. Nilayam, 9Th Main I Cross, Hal Ii Stage, Indira Nagar, Bengaluru-560 038. V. The Acit, Central Circle-3, Coimbatore. [Pan:Adspp 9150 F] (अपीलाथ/Appellant) (यथ/Respondent) आयकर अपील सं./Ita Nos.219, 220, 221 & 222/Chny/2025 निधारण वष/Assessment Years: 2015-16, 2010-11, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.200, 201 To 208/Chny/2025 निधारण वष/Assessment Years: 2016-17, 2011-12 To 2018-19 & आयकर अपील सं./Ita Nos.3388 To 3392/Chny/2024 िनधारण वष/Assessment Years: 2014-15 To 2018-19 M/S. P.P. Financers, 24, Radha Avenue, 3Rd Street, Valsaravakkam, Chennai-600 087. V. The Acit, Central Circle-3, Coimbatore. [Pan: Aahfp 0288 L] (अपीलाथ/Appellant) (यथ/Respondent) आयकर अपील सं./Ita Nos.215 To 218 & 223/Chny/2025 िनधारण वष/Assessment Years: 2015-16 To 2018-19 & 2014-15 Mr. P. Kuppuchamy, No.80/7, 17Th Cross, 16Th Main Road, Btm Layout, Ns Palya, Bangaluru-560 076. V. The Acit, Central Circle-3, Coimbatore.

…ion No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. However, the addition cannot be sustained, as the jewellery is covered by Instruction No.1916, and in any event the assessment itself is invalid for the reasons…

M/S. P.P. FINANCIERS,CHENNAI vs. ACIT, CENTRAL CIRCLE-3,, CHENNAI

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 नधारण वष/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 नधारण वष/Assessment Years: 2010-11 To 2014-15 & 2016-17 Mr. P. Palanisamy, 390, P.P. Nilayam, 9Th Main I Cross, Hal Ii Stage, Indira Nagar, Bengaluru-560 038. V. The Acit, Central Circle-3, Coimbatore. [Pan:Adspp 9150 F] (अपीलाथ/Appellant) (यथ/Respondent) आयकर अपील सं./Ita Nos.219, 220, 221 & 222/Chny/2025 नधारण वष/Assessment Years: 2015-16, 2010-11, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.200, 201 To 208/Chny/2025 नधारण वष/Assessment Years: 2016-17, 2011-12 To 2018-19 & आयकर अपील सं./Ita Nos.3388 To 3392/Chny/2024 िनधारण वष/Assessment Years: 2014-15 To 2018-19 M/S. P.P. Financers, 24, Radha Avenue, 3Rd Street, Valsaravakkam, Chennai-600 087. V. The Acit, Central Circle-3, Coimbatore. [Pan: Aahfp 0288 L] (अपीलाथ/Appellant) (यथ/Respondent) आयकर अपील सं./Ita Nos.215 To 218 & 223/Chny/2025 िनधारण वष/Assessment Years: 2015-16 To 2018-19 & 2014-15 Mr. P. Kuppuchamy, No.80/7, 17Th Cross, 16Th Main Road, Btm Layout, Ns Palya, Bangaluru-560 076. V. The Acit, Central Circle-3, Coimbatore.

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. However, the addition cannot be sustained, as the assessment itself is invalid for the reasons stated above. ==End of OCR for page 4952. The ld.AR has further contend…

P KUPPUCHAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunatha

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. However, the addition cannot be sustained, as the jewellery is covered by Instruction No.1916, and in any event the assessment itself is invalid for the reasons state…

P KUPPUCHAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 निर्धारण वर्ष/Assessment Years: 2010-11 To 2014-15 & 2016-17 Mr. P. Palanisamy, 390, P.P. Nilayam, 9Th Main I Cross, Hal Ii Stage, Indira Nagar, Bengaluru-560 038. [Pan:Adspp 9150 F] (अपीलाथ/Appellant) V. The Acit, Central Circle-3, Coimbatore. (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.219, 220, 221 & 222/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16, 2010-11, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.200, 201 To 208/Chny/2025 निर्धारण वर्ष/Assessment Years: 2016-17, 2011-12 To 2018-19 & आयकर अपील सं./Ita Nos.3388 To 3392/Chny/2024 निर्धारण वर्ष/Assessment Years: 2014-15 To 2018-19 M/S. P.P. Financers, 24, Radha Avenue, 3Rd Street, Valsaravakkam, Chennai-600 087. [Pan: Aahfp 0288 L] (अपीलाथ/Appellant) V. The Acit, Central Circle-3, Coimbatore. (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.215 To 218 & 223/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16 To 2018-19 & 2014-15 Mr. P. Kuppuchamy, No.80/7, 17Th Cross, 16Th Main Road, Btm Layout, Ns Palya, Bangaluru-560 076. V. The Acit, Central Circle-3, Coimbatore.

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. However, the addition cannot be sustained, as the jewellery is cov ered by Instruction No.1916, and in any event the assessment itself is invalid for the reasons stat…

P PALANISAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

…ion No. 1916, no addition can be made in respect of\nthe same. Similar conclusions have been reached in CIT v. Ratanlal\nVyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni\n[2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri\n[2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that\nthe value of the gold belongs to the assessee from whose premises\nit was seized and therefore this ground of the assessee is dismissed.\nHowever, the addition cannot be sustained, as the assessment itself\nis invalid for the reasons stated above.\n==End of OCR for page 49==\nITA No.1119/Chny/2025 &…

P. PALANISAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. ITA No.1119/Chny/2025 & ‘60’ Others Mr. P. Palanisamy M/s. P.P. Financiers Mr. P. Kuppuchamy Mr. L. Karuppusamy M/s. P.P. Enterprises Mr. Palanisamy Raghupathy M/s.…

P PALANISAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3, COIMBATORE

…ion No. 1916, no addition can be made in respect of\nthe same. Similar conclusions have been reached in CIT v. Ratanlal\nVyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni\n[2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri\n[2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that\nthe value of the gold belongs to the assessee from whose premises\nit was seized and therefore this ground of the assessee is dismissed.\nHowever, the addition cannot be sustained, as the assessment itself\nis invalid for the reasons stated above.\nITA No.1119/Chny/2025 & ‘60’ Others\nMr. P. Palanisa…

P PALANISMAY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 निर्धारण वर्ष/Assessment Years: 2010-11 To 2014-15 & 2016-17 Mr. P. Palanisamy, 390, P.P. Nilayam, 9Th Main I Cross, Hal Ii Stage, Indira Nagar, Bengaluru-560 038. V. The Acit, Central Circle-3, Coimbatore. [Pan:Adspp 9150 F] (अपीलाथ/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.219, 220, 221 & 222/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16, 2010-11, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.200, 201 To 208/Chny/2025 निर्धारण वर्ष/Assessment Years: 2016-17, 2011-12 To 2018-19 & आयकर अपील सं./Ita Nos.3388 To 3392/Chny/2024 निर्धारण वर्ष/Assessment Years: 2014-15 To 2018-19 M/S. P.P. Financers, 24, Radha Avenue, 3Rd Street, Valsaravakkam, Chennai-600 087. V. The Acit, Central Circle-3, Coimbatore. [Pan: Aahfp 0288 L] (अपीलाथ/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.215 To 218 & 223/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16 To 2018-19 & 2014-15 Mr. P. Kuppuchamy, No.80/7, 17Th Cross, 16Th Main Road, Btm Layout, Ns Palya, Bangaluru-560 076. V. The Acit, Central Circle-3, Coimbatore.

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. ==End of OCR for page 49== However, the addition cannot be sustained, as the jewellery is covered by Instruction No.1916, and in any event the assessment itself is in…

P. PALANISAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 निर्धारण वर्ष/Assessment Years: 2010-11 To 2014-15 & 2016-17 Mr. P. Palanisamy, 390, P.P. Nilayam, 9Th Main I Cross, Hal Ii Stage, Indira Nagar, Bengaluru-560 038. V. The Acit, Central Circle-3, Coimbatore. [Pan:Adspp 9150 F] (अपीलाथी/Appellant) (प्र] )/Respondent) आयकर अपील सं./Ita Nos.219, 220, 221 & 222/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16, 2010-11, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.200, 201 To 208/Chny/2025 निर्धारण वर्ष/Assessment Years: 2016-17, 2011-12 To 2018-19 & आयकर अपील सं./Ita Nos.3388 To 3392/Chny/2024 निर्धारण वर्ष/Assessment Years: 2014-15 To 2018-19 M/S. P.P. Financers, 24, Radha Avenue, 3Rd Street, Valsaravakkam, Chennai-600 087. V. The Acit, Central Circle-3, Coimbatore. [Pan:Aahfp 0288 L] (अपीलाथी/Appellant) (प्र] /Respondent) आयकर अपील सं./Ita Nos.215 To 218 & 223/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16 To 2018-19 & 2014-15 Mr. P. Kuppuchamy, No.80/7, 17Th Cross, 16Th Main Road, Btm Layout, Ns Palya, Bangaluru-560 076. V. The Acit, Central Circle-3, Coimbatore.

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. ==End of OCR for page 49== However, the addition cannot be sustained, as the jewellery is covered by Instruction No.1916, and in any event the assessment itself is in…

M/S. P.P.FINANCIERS,DINDIGUL vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunatha

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. However, the addition cannot be sustained, as the jewellery is covered by Instruction No.1916, and in any event the assessment itself is invalid for the reasons state…

P.P. FINANCIERS,DINDIGUL vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

…No. 1916, no addition can be made in respect of \nthe same. Similar conclusions have been reached in CIT v. Ratanlal \nVyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni \n[2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri \n[2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that \nthe value of the gold belongs to the assessee from whose premises \nit was seized and therefore this ground of the assessee is dismissed. \nHowever, the addition cannot be sustained, as the assessment itself is invalid for the reasons stated above. \n\n52. The ld.AR has further contended that the hi…

P. PALANISAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. ITA No.1119/Chny/2025 & ‘60’ Others Mr. P. Palanisamy M/s. P.P. Financiers Mr. P. Kuppuchamy Mr. L. Karuppusamy M/s. P.P. Enterprises Mr. Palanisamy Raghupathy M/s.…

P. PALANISAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3, COIMBATORE

…ion No. 1916, no addition can be made in respect of\nthe same. Similar conclusions have been reached in CIT v. Ratanlal\nVyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni\n[2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri\n[2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that\nthe value of the gold belongs to the assessee from whose premises\nit was seized and therefore this ground of the assessee is dismissed.\nHowever, the addition cannot be sustained, as the assessment itself\nis invalid for the reasons stated above.\n==End of OCR for page 49==\n==Start of OCR for page…

M/S. P.P. FINANCIERS,KARUR vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. ITA No.1119/Chny/2025 & ‘60’ Others Mr. P. Palanisamy M/s. P.P. Financiers Mr. P. Kuppuchamy Mr. L. Karuppusamy M/s. P.P. Enterprises Mr. Palanisamy Raghupathy M/s.…

M/S. P.P. FINANCIERS,KARUR vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 निर्धारण वर्ष/Assessment Years: 2010-11 To 2014-15 & 2016-17 Mr. P. Palanisamy, 390, P.P. Nilayam, 9Th Main I Cross, Hal Ii Stage, Indira Nagar, Bengaluru-560 038. V. The Acit, Central Circle-3, Coimbatore. [Pan:Adspp 9150 F] (अपीलाथ/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.219, 220, 221 & 222/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16, 2010-11, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.200, 201 To 208/Chny/2025 निर्धारण वर्ष/Assessment Years: 2016-17, 2011-12 To 2018-19 & आयकर अपील सं./Ita Nos.3388 To 3392/Chny/2024 निर्धारण वर्ष/Assessment Years: 2014-15 To 2018-19 M/S. P.P. Financers, 24, Radha Avenue, 3Rd Street, Valsaravakkam, Chennai-600 087. V. The Acit, Central Circle-3, Coimbatore. [Pan: Aahfp 0288 L] (अपीलाथ/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.215 To 218 & 223/Chny/2025 निर्धारण वर्ष/Assessment Years: 2015-16 To 2018-19 & 2014-15 Mr. P. Kuppuchamy, No.80/7, 17Th Cross, 16Th Main Road, Btm Layout, Ns Palya, Bangaluru-560 076. V. The Acit, Central Circle-3, Coimbatore.

…5.1994, has provided that gold jewellery and ornaments up to 500 grams per married woman, 250 grams per unmarried woman and 100 grams per male of the family need not be seized during a search operation. The Hon’ble Allahabad High Court in Ghanshyamdas Johari (41 Taxmann.com 295) has held that once jewellery falls within the ambit of Instruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (A…

M/S. P.P. FINANCIERS,KARUR vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. ITA No.1119/Chny/2025 & ‘60’ Others Mr. P. Palanisamy M/s. P.P. Financiers Mr. P. Kuppuchamy Mr. L. Karuppusamy M/s. P.P. Enterprises Mr. Palanisamy Raghupathy M/s.…

M/S. P.P. FINANCIERS,KARUR vs. ACIT, CENTRAL CIRCLE-3, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 निधारण वर्ष/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 निधारण वर्ष/Assessment Years: 2010-11 To 2014-15 & 2016-17 Mr. P. Palanisamy, 390, P.P. Nilayam, 9Th Main I Cross, Hal Ii Stage, Indira Nagar, Bengaluru-560 038. V. The Acit, Central Circle-3, Coimbatore. [Pan:Adspp 9150 F] (अपीलाथ/Appellant) (प्रयथ/Respondent) आयकर अपील सं./Ita Nos.219, 220, 221 & 222/Chny/2025 निधारण वर्ष/Assessment Years: 2015-16, 2010-11, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.200, 201 To 208/Chny/2025 निधारण वर्ष/Assessment Years: 2016-17, 2011-12 To 2018-19 & आयकर अपील सं./Ita Nos.3388 To 3392/Chny/2024 िनधारण वर्ष/Assessment Years: 2014-15 To 2018-19 M/S. P.P. Financers, 24, Radha Avenue, 3Rd Street, Valsaravakkam, Chennai-600 087. V. The Acit, Central Circle-3, Coimbatore. [Pan: Aahfp 0288 L] (अपीलाथ/Appellant) (प्रयथ/Respondent) आयकर अपील सं./Ita Nos.215 To 218 & 223/Chny/2025 निधारण वर्ष/Assessment Years: 2015-16 To 2018-19 & 2014-15 Mr. P. Kuppuchamy, No.80/7, 17Th Cross, 16Th Main Road, Btm Layout, Ns Palya, Bangaluru-560 076. V. The Acit, Central Circle-3, Coimbatore.

…ruction No. 1916, no addition can be made in respect of the same. Similar conclusions have been reached in CIT v. Ratanlal Vyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni [2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri [2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that the value of the gold belongs to the assessee from whose premises it was seized and therefore this ground of the assessee is dismissed. However, the addition cannot be sustained, as the assessment itself is invalid for the reasons stated above. ==End of OCR for page 49== ==Start of OCR for page 50== H…

M/S. P.P. CONSTRUCTIONS,KARUR vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

…ion No. 1916, no addition can be made in respect of\nthe same. Similar conclusions have been reached in CIT v. Ratanlal\nVyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni\n[2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri\n[2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that\nthe value of the gold belongs to the assessee from whose premises\nit was seized and therefore this ground of the assessee is dismissed.\nHowever, the addition cannot be sustained, as the assessment itself is invalid for the reasons stated above.\n==End of OCR for page 49==\nITA No.1119/Chny/2025 & ‘…

M/S. P.P. CONSTRUCTIONS,KARUR vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

…ion No. 1916, no addition can be made in respect of\nthe same. Similar conclusions have been reached in CIT v. Ratanlal\nVyaparilal Jain [2011] 339 ITR 351 (Guj), CIT v. Satya Narain Patni\n[2014] 366 ITR 325 (Rajasthan) and CIT v. Ghanshyam Das Johri\n[2014] 41 Taxmann.com 295 (Allahabad). Accordingly, we hold that\nthe value of the gold belongs to the assessee from whose premises\nit was seized and therefore this ground of the assessee is dismissed.\nHowever, the addition cannot be sustained, as the assessment itself is invalid for the reasons\nstated above.\n==End of OCR for page 49==\nITA No.1119/Chny/2025 &…