Ramco Cements Ltd. v. DCIT

G.Narasiman, Erode vs. ITO, Coimbatore

In the result, the assessee’s appeal is disposed of on the foregoing terms

Bench: Shri Sanjay Arora & Shri Duvvuru Rl Reddy

…2017] 396 ITR 251 (Mad), rendered upon noticing and referring to a plethora of decisions, including by the Hon'ble Apex High Court and, further, by the larger benches thereof, as well as by the its earlier judgments, as in Ramco Cements Ltd. v. Dy. CIT [2015] 373 ITR 146 (Mad) and CIT v. Malind Levitators Pvt. Ltd. (T.C. (A) No.874/2014 dated 18.11.2014). In sum, it is reiterated that an appellate authority has the power to consider the assessee’s claim even if not made per a return or revised return of income where the relevant material is on record and the claim is otherwise tenable in law. In the present case,…

Late K.Sengoda Gounder, L/R Shri S.Kumar, Chennai vs. ITO, Salem

In the result, the appeal of the assessee is allowed for statistical

Bench: Shri Duvvuru Rl Reddy & Shri D.S.Sunder Singh

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER, AND SHRI D.S.SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.306/Mds/2016 "नधा"रण वष" /Assessment Year: 2011-12 Vs. Shri Late K. Sengoda Gounder, The Income Tax Officer, L/R, Shri S.Kumar, Ward 2(3), Salem. No.9/150, Erumapalayam Road, Seelanaickenpatti, Salem-636 201. [PAN: CWBPS 4323 L] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Mr.S.Sridhar, Adv. अपीलाथ" क ओर से/ Appellant by : ""यथ" क ओर से /Respondent by Mr.Shiva Srinivas, JCIT : सुनवाई क तार"ख/Date of Hearin…

Mosbacher India Llc, Chennai vs. Addl. DIT, Chennai

In the result, the appeal is partly allowed in the terms indicated above

…1085/CHNY/2015 Assessment year: 2010-11 Page 10 of 21 [19] As for the Goetze India (supra) decision relied upon by the Assessing Officer, we may only refer to the decision of Hon’ble jurisdictional High Court, in the case of Ramco Cements Ltd Vs DCIT [(2015) 373 ITR 146 (Mad)], wherein Their Lordships have held that where there is a bonafide lapse on the part of the assessee in making a claim, he can very well do so before the CIT(A). In effect thus, a mistake by the assessee at the assessment stage, with respect to a claim, does not prejudice the claim of the assessee on merits. Therefore, even if the assessee…

DCIT, Chennai vs. T.S.Narayanaswamy, Chennai

In the result, all the appeals filed by the Revenue are allowed

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.1925, 1926, 1927, 1928 & 1929/Mds/2016 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 The Deputy Commissioner Of Shri T.S. Narayanaswamy, Income Tax, V. No.4, A & B Coral, Corporate Circle – 2(2), 8/22, Rahaviah Road, Chennai - 600 034. T. Nagar, Chennai - 600 017. Pan : Avmps 1049 N (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ected the Assessing Officer to recomputed the 7 I.T.A. Nos.1925 to 1929/Mds/16 assessee’s income as per the annexures giving effect to his order and also supported with the decisions of the jurisdictional High Court in the case of Ramco Cements Ltd. v. CIT (373 ITR 146) and partly allowed the appeal. 6. Aggrieved, the Revenue has filed the appeals before the Tribunal. Before us, the Ld. Departmental Representative submitted that the order of the CIT(Appeals) is erred in law and the CIT(Appeals) has directed the Assessing Officer to allow 95% of expenditure as business expenditure without verifying the claim a…

DCIT, Chennai vs. T.S.Narayanaswamy, Chennai

In the result, all the appeals filed by the Revenue are allowed

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.1925, 1926, 1927, 1928 & 1929/Mds/2016 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 The Deputy Commissioner Of Shri T.S. Narayanaswamy, Income Tax, V. No.4, A & B Coral, Corporate Circle – 2(2), 8/22, Rahaviah Road, Chennai - 600 034. T. Nagar, Chennai - 600 017. Pan : Avmps 1049 N (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ected the Assessing Officer to recomputed the 7 I.T.A. Nos.1925 to 1929/Mds/16 assessee’s income as per the annexures giving effect to his order and also supported with the decisions of the jurisdictional High Court in the case of Ramco Cements Ltd. v. CIT (373 ITR 146) and partly allowed the appeal. 6. Aggrieved, the Revenue has filed the appeals before the Tribunal. Before us, the Ld. Departmental Representative submitted that the order of the CIT(Appeals) is erred in law and the CIT(Appeals) has directed the Assessing Officer to allow 95% of expenditure as business expenditure without verifying the claim a…

DCIT, Chennai vs. T.S.Narayanaswamy, Chennai

In the result, all the appeals filed by the Revenue are allowed

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.1925, 1926, 1927, 1928 & 1929/Mds/2016 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 The Deputy Commissioner Of Shri T.S. Narayanaswamy, Income Tax, V. No.4, A & B Coral, Corporate Circle – 2(2), 8/22, Rahaviah Road, Chennai - 600 034. T. Nagar, Chennai - 600 017. Pan : Avmps 1049 N (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ected the Assessing Officer to recomputed the 7 I.T.A. Nos.1925 to 1929/Mds/16 assessee’s income as per the annexures giving effect to his order and also supported with the decisions of the jurisdictional High Court in the case of Ramco Cements Ltd. v. CIT (373 ITR 146) and partly allowed the appeal. 6. Aggrieved, the Revenue has filed the appeals before the Tribunal. Before us, the Ld. Departmental Representative submitted that the order of the CIT(Appeals) is erred in law and the CIT(Appeals) has directed the Assessing Officer to allow 95% of expenditure as business expenditure without verifying the claim a…

DCIT, Chennai vs. T.S.Narayanaswamy, Chennai

In the result, all the appeals filed by the Revenue are allowed

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.1925, 1926, 1927, 1928 & 1929/Mds/2016 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 The Deputy Commissioner Of Shri T.S. Narayanaswamy, Income Tax, V. No.4, A & B Coral, Corporate Circle – 2(2), 8/22, Rahaviah Road, Chennai - 600 034. T. Nagar, Chennai - 600 017. Pan : Avmps 1049 N (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ected the Assessing Officer to recomputed the 7 I.T.A. Nos.1925 to 1929/Mds/16 assessee’s income as per the annexures giving effect to his order and also supported with the decisions of the jurisdictional High Court in the case of Ramco Cements Ltd. v. CIT (373 ITR 146) and partly allowed the appeal. 6. Aggrieved, the Revenue has filed the appeals before the Tribunal. Before us, the Ld. Departmental Representative submitted that the order of the CIT(Appeals) is erred in law and the CIT(Appeals) has directed the Assessing Officer to allow 95% of expenditure as business expenditure without verifying the claim a…

DCIT, Chennai vs. T.S.Narayanaswamy, Chennai

In the result, all the appeals filed by the Revenue are allowed

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.1925, 1926, 1927, 1928 & 1929/Mds/2016 "नधा"रण वष" / Assessment Years : 2007-08 To 2011-12 The Deputy Commissioner Of Shri T.S. Narayanaswamy, Income Tax, V. No.4, A & B Coral, Corporate Circle – 2(2), 8/22, Rahaviah Road, Chennai - 600 034. T. Nagar, Chennai - 600 017. Pan : Avmps 1049 N (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ected the Assessing Officer to recomputed the 7 I.T.A. Nos.1925 to 1929/Mds/16 assessee’s income as per the annexures giving effect to his order and also supported with the decisions of the jurisdictional High Court in the case of Ramco Cements Ltd. v. CIT (373 ITR 146) and partly allowed the appeal. 6. Aggrieved, the Revenue has filed the appeals before the Tribunal. Before us, the Ld. Departmental Representative submitted that the order of the CIT(Appeals) is erred in law and the CIT(Appeals) has directed the Assessing Officer to allow 95% of expenditure as business expenditure without verifying the claim a…