DCIT, CHENNAI vs. TURBO ENERGY LIMITED, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

set off against taxable income. The loss was only due to restatement of foreign exchange which should be allowed only on actual happening of the event. Further, Ld.DR stated that the loss was booked without actual delivery of the commodity and hence the loss should be treated as speculative transaction as per Sec.43(5) of Income

DCIT, CHENNAI vs. M/S. TURBO ENERGEY LIMITED, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

set off against taxable income. The loss was only due to restatement of foreign exchange which should be allowed only on actual happening of the event. Further, Ld.DR stated that the loss was booked without actual delivery of the commodity and hence the loss should be treated as speculative transaction as per Sec.43(5) of Income

DCIT, CHENNAI vs. M/S. TURBO ENERGEY LIMITED, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

set off against taxable income. The loss was only due to restatement of foreign exchange which should be allowed only on actual happening of the event. Further, Ld.DR stated that the loss was booked without actual delivery of the commodity and hence the loss should be treated as speculative transaction as per Sec.43(5) of Income

TURBO ENERGY LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

set off against taxable income. The loss was only due to restatement of foreign exchange which should be allowed only on actual happening of the event. Further, Ld.DR stated that the loss was booked without actual delivery of the commodity and hence the loss should be treated as speculative transaction as per Sec.43(5) of Income

TURBO ENERGY LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

set off against taxable income. The loss was only due to restatement of foreign exchange which should be allowed only on actual happening of the event. Further, Ld.DR stated that the loss was booked without actual delivery of the commodity and hence the loss should be treated as speculative transaction as per Sec.43(5) of Income

M/S. TRIVITRON HEALTHCARE PVT. LTD.,CHENNAI vs. PCIT, , CHENNAI-3

In the result, the appeal filed by the assessee is partly

set off of brought forward loss of Rs.14,43,60,453/-. The assessee is engaged in the business of manufacturing innovations, distribution of global medical technology. Subsequently, the assessee's case was selected for complete scrutiny on the following issues:- "Sl.No. i. Issues Claim of any other amount allowable as deduction in Schedule BP ii. Default in TDS

DCIT, CHENNAI vs. DSM SOFT PRIVATE LIMITED, CHENNAI

In the result, the appeal of the Revenue in ITA

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

loss of "57,15,918/- and was processed u/s.143(1) of the Act. Subsequently notice u/s.148 was issued for reason to believe that income has escaped assessment. In compliance to notice, the ld. Authorised Representative of the assessee appeared on various dates and filed details. The Assessing Officer on perusal of the financial statements of the company found that assessee

DCIT, CHENNAI vs. DSM SOFT PRIVATE LIMITED, CHENNAI

In the result, the appeal of the Revenue in ITA

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

loss of "57,15,918/- and was processed u/s.143(1) of the Act. Subsequently notice u/s.148 was issued for reason to believe that income has escaped assessment. In compliance to notice, the ld. Authorised Representative of the assessee appeared on various dates and filed details. The Assessing Officer on perusal of the financial statements of the company found that assessee

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. R. Raghunatha, Hon'Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 (निर्धारण वर्ष / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Cognizant Technology Solutions Vs The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai - 600 096. (प्रत्यर्थी/Respondent) Pan: Aaacd 3312M (अपीलार्थी/Appellant) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 (निर्धारण वर्ष / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) The Asst. Commissioner Of Vs Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai - 600 096. Pan: Aaacd 3312M (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) निधारिती की ओर से/Assessee By राजस्व की ओर से /Revenue By : Shri N.V. Balaji, Advocate : Shri R. Clement Ramesh Kumar, Cit & Ms. Anitha, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 11.03.2025 घोषणा की तारीख/Date Of Pronouncement : 16.05.2025 - 2 -

TDS while paying the said amount. In the scrutiny assessment, AO noticed the above and observed that the said payments constitute royalty as contained in Explanation-2 read with Explanation-3 to section 9(1)(vi) of the Act. AO invoked the provisions of section 40(a)(i) of the Act. 26. During the first appellate proceedings, CIT (A) observed

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1),, CHENNAI

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs Cognizant Technology Solutions The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs The Asst. Commissioner Of Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent)

TDS under section 195 of the Act. - Issue covered in assessee’s own case in favour of the assessee during the A.Y. 2009-10 by the Chennai ITAT in ITA No.1798/Mds/2014 reference in this regard is made to Page No. 310 (Para No.27) of the case law paper book. 21. We have heard both the parties and perused the records

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1),, CHENNAI

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs Cognizant Technology Solutions The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs The Asst. Commissioner Of Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent)

TDS under section 195 of the Act. - Issue covered in assessee’s own case in favour of the assessee during the A.Y. 2009-10 by the Chennai ITAT in ITA No.1798/Mds/2014 reference in this regard is made to Page No. 310 (Para No.27) of the case law paper book. 21. We have heard both the parties and perused the records

DY. CIT, CENTRAL CIRCLE-2, , COIMBATORE vs. M/S POOJA MARKETING, MALAD

In the result, both the appeals stand dismissed

Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL (Accountant Member), SHRI MANU KUMAR GIRI (Judicial Member)

Loss Account and the assessee reflected net profit of Rs.1.68 Crores which was offered as business income. The assessee claimed credit of TDS as deducted by the Director of Lotteries of Sikkim and Director of Lotteries of Mizoram u/s 194B of the Act. In other words, the assessee considered winning from unsold lottery tickets as business income and claimed set

DY. CIT, CENTRAL CIRCLE-2, , COIMBATORE vs. M/S POOJA MARKETING, MALAD

In the result, both the appeals stand dismissed

Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL (Accountant Member), SHRI MANU KUMAR GIRI (Judicial Member)

Loss Account and the assessee reflected net profit of Rs.1.68 Crores which was offered as business income. The assessee claimed credit of TDS as deducted by the Director of Lotteries of Sikkim and Director of Lotteries of Mizoram u/s 194B of the Act. In other words, the assessee considered winning from unsold lottery tickets as business income and claimed set

SUTHERLAND GLOBAL SERVICES PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

Appeal stands dismissed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

set off the loss of STPI unit against business income. She ought to have followed the decision of Delhi High Court in CIT Vs Ket Industries Ltd. (118 DTR 306). 4. The assessee being resident corporate assessee is stated to be engaged in Business Process Outsourcing (BPO), IT enabled services and Software development. The return, though scrutinized

DCIT, CHENNAI vs. M/S. SUTHERLAND GLOBAL SERVICES PVT. LTD., CHENNAI

Appeal stands dismissed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

set off the loss of STPI unit against business income. She ought to have followed the decision of Delhi High Court in CIT Vs Ket Industries Ltd. (118 DTR 306). 4. The assessee being resident corporate assessee is stated to be engaged in Business Process Outsourcing (BPO), IT enabled services and Software development. The return, though scrutinized

SUTHERLAND GLOBAL SERVICES PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

Appeal stands dismissed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

set off the loss of STPI unit against business income. She ought to have followed the decision of Delhi High Court in CIT Vs Ket Industries Ltd. (118 DTR 306). 4. The assessee being resident corporate assessee is stated to be engaged in Business Process Outsourcing (BPO), IT enabled services and Software development. The return, though scrutinized

DCIT, CHENNAI vs. M/S. SUTHERLAND GLOBAL SERVICES PVT. LTD., CHENNAI

Appeal stands dismissed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

set off the loss of STPI unit against business income. She ought to have followed the decision of Delhi High Court in CIT Vs Ket Industries Ltd. (118 DTR 306). 4. The assessee being resident corporate assessee is stated to be engaged in Business Process Outsourcing (BPO), IT enabled services and Software development. The return, though scrutinized

DCIT, CHENNAI vs. SUTHERLAND GLOBAL SERVICES PVT. LTD., CHENNAI

Appeal stands dismissed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

set off the loss of STPI unit against business income. She ought to have followed the decision of Delhi High Court in CIT Vs Ket Industries Ltd. (118 DTR 306). 4. The assessee being resident corporate assessee is stated to be engaged in Business Process Outsourcing (BPO), IT enabled services and Software development. The return, though scrutinized