DCIT, CHENNAI vs. TVS INVESTMENTS LRD.,, CHENNAI

In the result, the Revenue's appeal as well as the assessee's Cross Objection are allowed for statistical purposes

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.262/Chny/2017 (िनधा*रण वष* / Assessment Year: 2010-11) Dcit M/S. Tvs Capital Funds (P) Limited (Formerly Known As Tvs Investments Limited) Corporate Circle-3(1) बनाम/ Jayalakshmi Estates, Chennai-600 034. Vs. No.29, (Old No.8), Haddows Road Chennai-600 006. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-1154-H (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Dr. D. Praveen (Jcit) -Ld. Dr " थ"कीओरसे/Respondent By : Shri R. Vijayaraghavan, (Advocate)-Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 15-05-2024 घोषणाकीतारीख /Date Of Pronouncement : 11-06-2024 आदेश / O R D E R

long term capital base for future operations of the company. So, the main promoters holding nearly 89% of the share capital of TVSF&S i.e. TVS Investments Ltd. and TVSM, the assessee company agreed to buy the shares in accordance. with the listing agreement regulations mainly and with the sole intention of safeguarding the name TVS, protection

D.RAMGOPAL,COIMBATORE vs. DCIT, CENTRAL CIRCLE-1(1), COIMBATORE

The appeal stands partly allowed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.581/Chny/2022 (िनधा)रण वष) / Assessment Year: 2011-12) Shri D. Ramagopal Acit बनाम C/O.Mr. G.V. Jhabakh (Fca) Central Circle-1 157, P.M Swamy Colony, Coimbatore. / Vs. 5Th Street, Coimbatore. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Akgpr-3621-L (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Jhabakh(Ca)- Ld. Ar " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit)-Ld. Dr सुनवाईकीतारीख/Date Of Final Hearing : 18-03-2024 घोषणाकीतारीख /Date Of Pronouncement : 09-04-2024 आदेश / O R D E R

Long Term and Short Term Capital Gain without considering the expenses involved to get the title. 2. The assessing officer and the C.I.T. appeal erred in treating cash deposits into bank account as un-explained income. 3. The assessing officer and the C.I.T. appeal also not considered the agriculture income and treating the income at nil without considering the agriculture

MUTHUSAMY SHANMUGAM,CHENNAI vs. ITO, INTERNATIONAL TAXATION WARD-2(2), CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Manjunatha. G & Shri Manomohan Dasआयकर अपील सं./Ita No.362/Chny/2023 िनधा(रण वष( /Assessment Year: 2013-14 Muthusamy Shanmugam, The Income Tax Officer, C/O.Ramesh & Ramachandran, Cas Vs. Ward-2(2), New No.39, Old No.29/3, Chennai. Viswanathapuram Main Road, Kodambakkam, Chennai – 600 024. [Pan: Dghps-7897-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Y. Sridhar, F.C.A ""यथ" क" ओर से /Respondent By : Shri V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 21.09.2023 घोषणा क" तारीख /Date Of Pronouncement : 30.11.2023 आदेश / O R D E R

purchase agreement on 17-05- 2011 with M/s Par Pharmaceuticals LLC, a Delware Corporation for sale of shares. The assessee admitted sale consideration of his share and arrived at long term capital gains of Rs. 54,01,85,018. The assessee claimed cost of acquisition and transaction expenses. The ld. AO noticed that the assessee set off Short term capital

DEPUTY COMMISSIONER OF INOCME TAX, CENTRAL CIRCLE - 1(3), CHENNAI vs. M. MAHADEVAN , CHENNAI

In the result, the appeals of the Revenue are decided as under:-

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1824/Chny/2024, Assessment Years: 2013-14 आयकर अपील सं./Ita No.1825/Chny/2024, Assessment Years: 2014-15 आयकर अपील सं./Ita No.1826/Chny/2024, Assessment Years: 2019-20

bogus and fictitious trail. The Ld AO also observed that the sale of fine dining division of OCPL to CCMPL included a significantly valued property at 71 cathedral road in Chennai, which was again sold by OCPL to assessee’s wife Ms.Badrunissa at a much lower value. The Ld.AO concluded that the entire share transfer transaction was built to avoid

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. M. MAHADEVAN, CHENNAI

In the result, the appeals of the Revenue are decided as under:-

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1824/Chny/2024, Assessment Years: 2013-14 आयकर अपील सं./Ita No.1825/Chny/2024, Assessment Years: 2014-15 आयकर अपील सं./Ita No.1826/Chny/2024, Assessment Years: 2019-20

bogus and fictitious trail. The Ld AO also observed that the sale of fine dining division of OCPL to CCMPL included a significantly valued property at 71 cathedral road in Chennai, which was again sold by OCPL to assessee’s wife Ms.Badrunissa at a much lower value. The Ld.AO concluded that the entire share transfer transaction was built to avoid

D.RAMGOPAL,COIMBATORE vs. DCIT, CENTRAL CIRCLE-1(1), COIMBATORE

In the result the appeal of the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 583 /Chny/2022 िनधा"रणवष" / Assessment Year: 2013-14 Deputy Commissioner Of Income Shri. D. Ramagopal, V. Tax, 14-A, 10Th Street, Central Circle -1, Ganapathypudur, Coimbatore. Ganapathy, Coimbatore – 641 006. [Pan: Akgpr-3621-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 584/Chny/2022 िनधा"रणवष" / Assessment Year: 2014-15 Principal Commissioner Of Shri. D. Ramagopal, V. Income Tax, 14-A, 10Th Street, Central Circle -2, Ganapathypudur, Chennai. Ganapathy, Coimbatore – 641 006. [Pan: Akgpr-3621-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. G.V. Jhabakh, Advocate ""यथ"क"ओरसे/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 06.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 23.10.2024 आदेश /O R D E R

long-term capital gain to Rs.26,81,928/- by rejecting certain expenditure claimed as cost of acquisition and improvement of the capital asset and the claim of agricultural income of Rs.7,43,000/- was ignored by considering the claim as bogus. 4. The assessee had sold the property at Coonoor and offered Capital Gain at Rs.85,069/- and later claiming

D.RAMGOPAL,COIMBATORE vs. DCIT, CENTRAL CIRCLE-1(1), COIMBATORE

In the result the appeal of the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 583 /Chny/2022 िनधा"रणवष" / Assessment Year: 2013-14 Deputy Commissioner Of Income Shri. D. Ramagopal, V. Tax, 14-A, 10Th Street, Central Circle -1, Ganapathypudur, Coimbatore. Ganapathy, Coimbatore – 641 006. [Pan: Akgpr-3621-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 584/Chny/2022 िनधा"रणवष" / Assessment Year: 2014-15 Principal Commissioner Of Shri. D. Ramagopal, V. Income Tax, 14-A, 10Th Street, Central Circle -2, Ganapathypudur, Chennai. Ganapathy, Coimbatore – 641 006. [Pan: Akgpr-3621-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. G.V. Jhabakh, Advocate ""यथ"क"ओरसे/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 06.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 23.10.2024 आदेश /O R D E R

long-term capital gain to Rs.26,81,928/- by rejecting certain expenditure claimed as cost of acquisition and improvement of the capital asset and the claim of agricultural income of Rs.7,43,000/- was ignored by considering the claim as bogus. 4. The assessee had sold the property at Coonoor and offered Capital Gain at Rs.85,069/- and later claiming

MANJU BAI,CHENNAI vs. ITO NON CORPORATE WARD 5(3), CHENNAI

The appeal stands partly allowed in terms of our above order

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

Long-Term Capital Gain under section 10(38) of the Income Tax Act and assessed the income from purchase and sale of shares under the head unexplained credits. 4. The learned CIT(A)-10 ought to have seen that in the case of the appellant the transaction of purchase and sale of shares are fully supported by uncontroverted Documentary evidences

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1), CHENNAI

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

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

long term capital gain added in AY 2014-15 was unsustainable, since it was not based on any incriminating material found in the course of search. The Ld. AR relying upon the decisions of the Hon'ble Delhi High Court in the case of CIT vs Kabul Chawla (380 ITR 573), which has since been affirmed

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

long term capital gain added in AY 2014-15 was unsustainable, since it was not based on any incriminating material found in the course of search. The Ld. AR relying upon the decisions of the Hon'ble Delhi High Court in the case of CIT vs Kabul Chawla (380 ITR 573), which has since been affirmed

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

long term capital gain added in AY 2014-15 was unsustainable, since it was not based on any incriminating material found in the course of search. The Ld. AR relying upon the decisions of the Hon'ble Delhi High Court in the case of CIT vs Kabul Chawla (380 ITR 573), which has since been affirmed

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1), CHENNAI

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

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

long term capital gain added in AY 2014-15 was unsustainable, since it was not based on any incriminating material found in the course of search. The Ld. AR relying upon the decisions of the Hon'ble Delhi High Court in the case of CIT vs Kabul Chawla (380 ITR 573), which has since been affirmed

D.RAMGOPAL,COIMBATORE vs. DCIT, CENTRAL CIRCLE-1(1), COIMBATORE

The appeal stand partly allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.582/Chny/2022 (िनधा)रण वष) / Assessment Year: 2012-13) Shri D. Ramagopal Acit बनाम C/O Mr. G.V. Jhabakh (Fca) Central Circle-1 157, P.M Swamy Colony, Coimbatore. / Vs. 5Th Street, Coimbatore-641 002. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Akgpr-3621-L (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Jhabakh (Ca)- Ld. Ar " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit)-Ld. Dr सुनवाईकीतारीख/Date Of Final Hearing : 18-03-2024 घोषणाकीतारीख /Date Of Pronouncement : 25-04-2024 आदेश / O R D E R Manoj Kumar Aggarwal () 1.1 Aforesaid Appeal By Assessee For Assessment Year (Ay) 2012-13 Arises Out Of An Order Passed By Learned Commissioner Of Income Tax (Appeals)-19, Chennai [Cit(A)] On 25.05.2022 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S 143(3) R.W.S 153A Of The Act On 30.03.2016. The Grounds Raised By The Assessee Read As Under: -

purchased for Rs.4.20 Lacs plus stamp Duty and registration charges totaling to Rs.54,725/-. The properties sold by the assessee represent 33.67% of the total area of 17.81 cents. The cost of acquisition of these properties would, therefore, be Rs.1,59,839/- i.e., 33.67% of Rs.4.20 Lacs. 5.2 The assessee did not admitted any gains in the return of income

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

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

long term capital\ngain added in AY 2014-15 was unsustainable, since it was not based on\nany incriminating material found in the course of search. The Ld. AR\nrelying upon the decisions of the Hon'ble Delhi High Court in the case of\nCIT vs Kabul Chawla (380 ITR 573), which has since been affirmed by\nthe

ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE 1 CHENNAI, CHENNAI vs. PRUDENTIAL SUGAR CORPORATION LIMITED, CHITOOR

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:2298/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19 The Assistant Commissioner Of Prudential Sugar Corporation Income Tax, Vs. Limited, Ltu, Circle -1, Prudential Nagar, Chennai. Koppedu Post, Nindra, Mandal – 517 587. [Pan:Aaacp-4338-D] (अपीलाथ"/Appellant) (""थ"/Respondent)

Term Capital Loss on sale of shares to the tune of Rs.24.00 crores have not been supported by any valid and reasonable explanations and documents and hence, brought to tax by holding as under: “4.4. The assessee has failed to submit any evidence before us to reasonably justify undertaking the purchase of such unlisted shares at such a huge premium

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), CHENNAI vs. RADIANCE REALTY DEVELOPERS INDIA LTD., CHENNAI

In the result, all the appeals of the Revenue and the assessee as\nwell as the Cross-Objections of the assessee are dismissed

Bench: SHRI ABY T. VARKEY, JUDICIAL MEMBER AND\nSHRI AMITABH SHUKLA, ACCOUNTANT MEMBER\nITA Nos.2978 - 2984/Chny/2024\n&\nCO Nos.11-17/Chny/2025\nनिर्धारण वर्ष/Assessment Years: 2016-17 to 2022-23\n\nThe DCIT,\nCentral Circle-2(1),\nChennai.\nM/s Radiance Realty-\nDevelopers India Ltd.,\nRadiance Towers, 1st Floor,\n33 Feet Road, Anna Salai,\nGuindy, Chennai – 600 032.\n[PAN: AACCN5152H]\n(अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent/Cross\nObjector)\n\nITA Nos.2971 - 2972/Chny/2024\nनिर्धारणवर्ष/A

Bogus purchase as stated by you, I\nrequest you to provide me 15 days time to reconcile the same.\"\n\n4.6\nIn light of the above seized electronic material, depositions of the\nemployees, CFO, CEO & the Managing Director, the AO is noted to have\nreopened the income-tax assessments of the assessee by issue of notices\nu/s

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), CHENNAI vs. RADIANCE REALTY DEVELOPERS INDIA LTD., CHENNAI

In the result, all the appeals of the Revenue and the assessee as\nwell as the Cross-Objections of the assessee are dismissed

Bench: SHRI ABY T. VARKEY, JUDICIAL MEMBER AND\nSHRI AMITABH SHUKLA, ACCOUNTANT MEMBER\nITA Nos.2978 - 2984/Chny/2024\n&\nCO Nos.11-17/Chny/2025\nनिर्धारण वर्ष/Assessment Years: 2016-17 to 2022-23\n\nThe DCIT,\nCentral Circle-2(1),\nChennai.\nM/s Radiance Realty-\nDevelopers India Ltd.,\nRadiance Towers, 1st Floor,\n33 Feet Road, Anna Salai,\nGuindy, Chennai – 600 032.\n[PAN: AACCN5152H]\n(अपीलार्थी/Appellant)\n(प्रत्यर्थी/Respondent/Cross\nObjector)\n\nITA Nos.2971 - 2972/Chny/2024\nनिर्धारणवर्ष/

Bogus purchase as stated by you, I\nrequest you to provide me 15 days time to reconcile the same.\"\n\n4.6\nIn light of the above seized electronic material, depositions of the\nemployees, CFO, CEO & the Managing Director, the AO is noted to have\nreopened the income-tax assessments of the assessee by issue of notices\nu/s

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), CHENNAI vs. RADIANCE REALTY DEVELOPERS INDIA LTD., CHENNAI

In the result, all the appeals of the Revenue and the assessee as\nwell as the Cross-Objections of the assessee are dismissed

Bench: SHRI ABY T. VARKEY, JUDICIAL MEMBER AND\nSHRI AMITABH SHUKLA, ACCOUNTANT MEMBER\nITA Nos.2978 - 2984/Chny/2024\n&\nCO Nos.11-17/Chny/2025\nनिर्धारण वर्ष/Assessment Years: 2016-17 to 2022-23\n\nThe DCIT,\nCentral Circle-2(1),\nChennai.\n(अपीलार्थी/Appellant)\nM/s Radiance Realty-\nDevelopers India Ltd.,\nRadiance Towers, 1st Floor,\n33 Feet Road, Anna Salai,\nGuindy, Chennai – 600 032.\n[PAN: AACCN5152H]\n(प्रत्यर्थी/Respondent/Cross\nObjector)\n\nITA Nos.2971 - 2972/Chny/2024\nनिर्धारणवर्ष/

Bogus purchase as stated by you, I\nrequest you to provide me 15 days time to reconcile the same.\"\n\n4.6\nIn light of the above seized electronic material, depositions of the\nemployees, CFO, CEO & the Managing Director, the AO is noted to have\nreopened the income-tax assessments of the assessee by issue of notices\nu/s