Smart Chip Pvt Ltd. v. ACIT

DCIT CC 2 2, Chennai vs. Southern Agrifurane Industries Pvt Ltd, Chennai

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 | The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit Assessee By : Mr. N. Arjun Raj, Advocate सुनवाईकीतारीख/Date Of Hearing : 08.10.2025 घोषणाकीतारीख / Date Of Pronouncement : 21.11.2025

…ear of search and not beyond, because the condition precedent in fourth proviso had not been fulfilled. In support of the appellate order of Ld. CIT(A), the Ld. AR relied upon the decision of Hon'ble Delhi High Court in the case of Smart Chip Pvt Ltd Vs ACIT (467 ITR 389). ITA Nos.1163, 1256, 1257 & 1259/Chny/2025 & ITA Nos.1231, 1232, 1234 & 1236/Chny/2025 (AYs 2013-14 to 2016-17) M/s. Southern Agrifurane Industries Pvt. Ltd. :: 34 :: 24. Heard both the parties and perused the material placed before us. As held by us above, ordinarily the AYs prior to AY 2021-22 can be reopened under the new 148 regime, only if…

DCIT CC 2 2, Chennai vs. Southern Agrifurane Industries Pvt Ltd, Chennai

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit Assessee By : Mr. N. Arjun Raj, Advocate सुनवाईकीतारीख/Date Of Hearing : 08.10.2025 घोषणाकीतारीख / Date Of Pronouncement : 21.11.2025

…ear of search and not beyond, because the condition precedent in fourth proviso had not been fulfilled. In support of the appellate order of Ld. CIT(A), the Ld. AR relied upon the decision of Hon'ble Delhi High Court in the case of Smart Chip Pvt Ltd Vs ACIT (467 ITR 389). ITA Nos.1163, 1256, 1257 & 1259/Chny/2025 & ITA Nos.1231, 1232, 1234 & 1236/Chny/2025 (AYs 2013-14 to 2016-17) M/s. Southern Agrifurane Industries Pvt. Ltd. :: 34 :: 24. Heard both the parties and perused the material placed before us. As held by us above, ordinarily the AYs prior to AY 2021-22 can be reopened under the new 148 regime, only if…

DCIT CC 2 2, Chennai vs. Southern Agrifurane Industries Pvt Ltd, Chennai

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

…of order of Ld. CIT(A), the Ld. AR relied upon the decision of order of Ld. CIT(A), the Ld. AR relied upon the decision of Hon’ble Delhi High Court in the case of Hon’ble Delhi High Court in the case of Smart Chip Pvt Ltd Vs ACIT Smart Chip Pvt Ltd Vs ACIT (467 ITR 389). ITA Nos.1163, 1256, 1257 & 1259/Chny/2025 1163, 1256, 1257 & 1259/Chny/2025 & ITA Nos. 1231, 1232, 1234 & 1236/Chny/2025 ITA Nos. 1231, 1232, 1234 & 1236/Chny/2025 (AYs 2013 s 2013-14 to 2016-17) Southern Agrifurane Industries Pvt. Ltd. M/s. Southern Agrifurane Industries Pvt :: 34 :: 24. Heard both the parties and perused the material placed…

Southern Agrifurane Industries Pvt. Ltd., Chennai vs. ACIT, Central Circle-2(2), Chennai

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

…of order of Ld. CIT(A), the Ld. AR relied upon the decision of order of Ld. CIT(A), the Ld. AR relied upon the decision of Hon’ble Delhi High Court in the case of Hon’ble Delhi High Court in the case of Smart Chip Pvt Ltd Vs ACIT Smart Chip Pvt Ltd Vs ACIT (467 ITR 389). ITA Nos.1163, 1256, 1257 & 1259/Chny/2025 1163, 1256, 1257 & 1259/Chny/2025 & ITA Nos. 1231, 1232, 1234 & 1236/Chny/2025 ITA Nos. 1231, 1232, 1234 & 1236/Chny/2025 (AYs 2013 s 2013-14 to 2016-17) Southern Agrifurane Industries Pvt. Ltd. M/s. Southern Agrifurane Industries Pvt :: 34 :: 24. Heard both the parties and perused the material placed…

Southern Agrifurane Industries Pvt. Ltd., Chennai vs. ACIT, Central Circle-2(2), Chennai

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

…ear of search and not beyond, because the condition precedent in fourth proviso had not been fulfilled. In support of the appellate order of Ld. CIT(A), the Ld. AR relied upon the decision of Hon'ble Delhi High Court in the case of Smart Chip Pvt Ltd Vs ACIT (467 ITR 389). ITA Nos.1163, 1256, 1257 & 1259/Chny/2025 & ITA Nos.1231, 1232, 1234 & 1236/Chny/2025 (AYs 2013-14 to 2016-17) M/s. Southern Agrifurane Industries Pvt. Ltd. :: 34 :: 24. Heard both the parties and perused the material placed before us. As held by us above, ordinarily the AYs prior to AY 2021-22 can be reopened under the new 148 regime, only if…

Southern Agrifurane Industries Pvt. Ltd., Chennai vs. ACIT, Central Circle-2(2), Chennai

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] V. The Dcit, Central Circle-2(2), Chennai. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

…ear of search and not beyond, because the condition precedent in fourth proviso had not been fulfilled. In support of the appellate order of Ld. CIT(A), the Ld. AR relied upon the decision of Hon'ble Delhi High Court in the case of Smart Chip Pvt Ltd Vs ACIT (467 ITR 389). ITA Nos.1163, 1256, 1257 & 1259/Chny/2025 & ITA Nos.1231, 1232, 1234 & 1236/Chny/2025 (AYs 2013-14 to 2016-17) M/s. Southern Agrifurane Industries Pvt. Ltd. :: 34 :: 24. Heard both the parties and perused the material placed before us. As held by us above, ordinarily the AYs prior to AY 2021-22 can be reopened under the new 148 regime, only if…

Southern Agrifurane Industries Pvt.. Ltd., Chennai vs. ACIT, Central Circle-2(2), Chennai

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

…ear of search and not beyond, because the condition precedent in fourth proviso had not been fulfilled. In support of the appellate order of Ld. CIT(A), the Ld. AR relied upon the decision of Hon'ble Delhi High Court in the case of Smart Chip Pvt Ltd Vs ACIT (467 ITR 389). ITA Nos.1163, 1256, 1257 & 1259/Chny/2025 & ITA Nos.1231, 1232, 1234 & 1236/Chny/2025 (AYs 2013-14 to 2016-17) M/s. Southern Agrifurane Industries Pvt. Ltd. :: 34 :: 24. Heard both the parties and perused the material placed before us. As held by us above, ordinarily the AYs prior to AY 2021-22 can be reopened under the new 148 regime, only if…

Deputy Commissioner of Income Tax, Central Circle 2 (2), Chennai vs. Southern Agrifurane Industries Pvt Ltd, Chennai

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

…ear of search and not beyond, because the condition precedent in fourth proviso had not been fulfilled. In support of the appellate order of Ld. CIT(A), the Ld. AR relied upon the decision of Hon'ble Delhi High Court in the case of Smart Chip Pvt Ltd Vs ACIT (467 ITR 389). ITA Nos.1163, 1256, 1257 & 1259/Chny/2025 & ITA Nos.1231, 1232, 1234 & 1236/Chny/2025 (AYs 2013-14 to 2016-17) M/s. Southern Agrifurane Industries Pvt. Ltd. :: 34 :: 24. Heard both the parties and perused the material placed before us. As held by us above, ordinarily the AYs prior to AY 2021-22 can be reopened under the new 148 regime, only if…