CIT v. Naga Hills Tea Co. Ltd.

89 ITR 236Supreme Court of India1973#1228 most cited

What is CIT v. Naga Hills Tea Co. Ltd. authority for?

If a provision of a taxing statute can be reasonably interpreted in two ways, the interpretation favorable to the assessee must be accepted. This fundamental principle ensures fairness when ambiguity exists in tax law.

92

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Naga Hills Tea Co. Ltd. · 89 ITR 236 · Supreme Court 1973 · statutory interpretation tax law · favorable to assessee · two reasonable interpretations · ambiguity in tax statutes · pro-assessee rule

Sections most often in play

Section 153CSection 144Section 143(3)Section 153ASection 115BBESection 132Section 153DSection 292C
Read the full judgment

Issues it is cited on

section 158bdincome tax settlement commissionsection 144asection 269stsection 43(3)section 269sssection 163section 245cspecified authorityblock periodsection 292csection 158b

Judgments citing CIT v. Naga Hills Tea Co. Ltd.

M/S. P.P. Financiers, Karur vs. ACIT, Central Circle-3, Coimbatore

ITA 3390/CHNY/2024[2016-17]Status: DisposedITAT Chennai09 Feb 2026AY 2016-17

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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar & Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

M/S. P.P. Financiers, Karur vs. ACIT, Central Circle-3, Coimbatore

ITA 3389/CHNY/2024[2015-16]Status: DisposedITAT Chennai09 Feb 2026AY 2015-16

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

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar & Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

M/S. P.P. Financiers, Karur vs. ACIT, Central Circle-3, Coimbatore

ITA 3388/CHNY/2024[2014-15]Status: DisposedITAT Chennai09 Feb 2026AY 2014-15

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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar & Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

M/S. P.P. Constructions, Karur vs. ACIT, Central Circle-3, Coimbatore

ITA 3387/CHNY/2024[2018-19]Status: DisposedITAT Chennai09 Feb 2026AY 2018-19

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) (यथ/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) (यथ/Respondent) आयकर अपील सं./Ita Nos.215 To 218 & 223/Chny/2025 िनधारण 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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar & Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

M/S. P.P. Constructions, Karur vs. ACIT, Central Circle-3, Coimbatore

ITA 3386/CHNY/2024[2017-18]Status: DisposedITAT Chennai09 Feb 2026AY 2017-18

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) (प्रतिवादी/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) (प्रतिवादी/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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar & Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

M/S. P.P. Constructions, Karur vs. ACIT, Central Circle-3, Coimbatore

ITA 3384/CHNY/2024[2015-16]Status: DisposedITAT Chennai09 Feb 2026AY 2015-16

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) (प्रयर्थ/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) (प्रयर्थ/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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar & Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

M/S. P.P. Enterprises, Bengaluru vs. ACIT< Central Circle-3, Coimbatore

ITA 3383/CHNY/2024[2018-19]Status: DisposedITAT Chennai09 Feb 2026AY 2018-19

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

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

P.P. Enterprises, Bengaluru vs. ACIT, Central Circle-3, Coimbatore

ITA 3382/CHNY/2024[2017-18]Status: DisposedITAT Chennai09 Feb 2026AY 2017-18

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

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Sellamuthu Kabilan, Bengaluru vs. ACIT, Central Circle 3, Coimbatore

ITA 3381/CHNY/2024[2018-19]Status: DisposedITAT Chennai09 Feb 2026AY 2018-19

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) (प्रयर्थ/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) (प्रयर्थ/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.

Section 153C

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Sellamuthu Kabilan, Bengaluru vs. ACIT, Central Circle 3, Coimbatore

ITA 3380/CHNY/2024[2017-18]Status: DisposedITAT Chennai09 Feb 2026AY 2017-18

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) (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] (अपीलाथी/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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Sellamuthu Kabilan, Bengaluru vs. ACIT, Central Cricle 3, Coimbatore

ITA 3378/CHNY/2024[2015-16]Status: DisposedITAT Chennai09 Feb 2026AY 2015-16

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

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Sellamuthu Kabilan, Bengaluru vs. ACIT, Central Cricle 3, Coimbatore

ITA 3377/CHNY/2024[2014-15]Status: DisposedITAT Chennai09 Feb 2026AY 2014-15

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) (प्रयथ/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) (प्रयथ/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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Sellamuthu Kabilan, Bengaluru vs. ACIT, Central Cricle 3, Coimbatore

ITA 3376/CHNY/2024[2013-14]Status: DisposedITAT Chennai09 Feb 2026AY 2013-14

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.

…f the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in…

Sellamuthu Kabilan, Bengaluru vs. ACIT, Central Cricle 3, Coimbatore

ITA 3375/CHNY/2024[2012-13]Status: DisposedITAT Chennai09 Feb 2026AY 2012-13

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. (प्रययर्थी/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. (प्रययर्थी/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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Palanisamy Raghupathy, Bengaluru vs. ACIT, Central Circle-3, Coimbatore

ITA 3374/CHNY/2024[2018-19]Status: DisposedITAT Chennai09 Feb 2026AY 2018-19

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

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Palanisamy Raghupathy, Bengaluru vs. ACIT, Central Circle-3, Coimbatore

ITA 3373/CHNY/2024[2017-18]Status: DisposedITAT Chennai09 Feb 2026AY 2017-18

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) (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] (अपीलाथी/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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Palanisamy Raghypathy, Bengaluru vs. ACIT, Central Circle-3, Coimbatore

ITA 3372/CHNY/2024[2016-17]Status: DisposedITAT Chennai09 Feb 2026AY 2016-17

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. (प्रयथ/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. (प्रयथ/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. [Pan: Ajzpp 4091 J] (अपीलाथ/Appellant) (प्रयथ/Respondent) आयकर अपील सं./Ita Nos.224 & 225/Chny/2025 निर्धारण वर्ष/Assessment Years: 2017-18 & 2018-19 Mr. L. Karuppusamy, No.119, 18Th Cross, Lakshmipuram, Ulsoor, Bangaluru-560 008. V. The Acit, Central Circle-3, Coimbatore. [Pan: Apqpk 4872 F] (अपीलाथ/Appellant) (प्रयथ/Respondent)

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Palanisamy Raghupathy, Bengaluru vs. ACIT, Central Circle-3, Coimbatore

ITA 3371/CHNY/2024[2015-16]Status: DisposedITAT Chennai09 Feb 2026AY 2015-16

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.

…f the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in…

Palanisamy Raghupathy, Bengaluru vs. ACIT, Central Circle-3, Coimbatore

ITA 3370/CHNY/2024[2014-15]Status: DisposedITAT Chennai09 Feb 2026AY 2014-15

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) (प्रयथ/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) (प्रयथ/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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…

Palanisamy Raghupathy, Bengaluru vs. ACIT, Central Circle-3, Coimbatore

ITA 3368/CHNY/2024[2012-13]Status: DisposedITAT Chennai09 Feb 2026AY 2012-13

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.

…ch of the Tribunal observed that, notwithstanding the existence of conflicting judicial opinions, the view favourable to the assessee should be adopted, in conformity with the law laid down by the Hon’ble Supreme Court in CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236 (SC) and A.P. Electrical Equipment Corporation v. The Tahsildar &amp; Ors. (Civil Appeal Nos. 4526–4527 of 2024). The relevant passages of the decision are reproduced below: “21. We find when the Revenue challenged the above order of the Hon’ble Karnataka High Court in the case of DCIT vs. Sunil Kumar Sharma (supra), the Hon’ble Supreme Court in SLP (…