PALANISAMY RANI,ERODE vs. PCIT-1, COIMBATORE, 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.: 1490/Chny/2023 िनधा"रणवष" / Assessment Year: 2017-18 Principal Commissioner Of Palanisamy Rani, V. Income Tax, 38, Emm Road-2, Chennimalai Coimbatore. Road, Erode – 638 001. [Pan:Biqpr-2991-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. T. Vasudevan, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 09.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 10.07.2024 आदेश /O R D E R

capital gains. In our humble understanding, the ratio of the order appears to be that the asset had ceased to be a business asset and had become an investment. 8. The order of the Cochin Bench in the case of Sakthi Metal Depot (supra) has been distinguished by the CIT(A) on the ground that in that case the property

ADHI KUMARA GURU,CHENNAI vs. DCIT, NCC-22(1), CHENNAI

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

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri Amitabh Shuklaमाननीय "ी मनु कुमार िग"र, "ाियक सद" एवं माननीय "ी अिमताभ शु"ा, लेखा सद" के सम"

Capital Gain'. It is also seen that rental income under the head 'income from house property' in respect of 3 properties other than a self 'income from house property' in respect of 3 properties other than a self 'income from house property' in respect of 3 properties other than a self- occupied property is offered in occupied property is offered

PENTA MEDIA GRAPHICS LTD.,CHENNAI vs. DCIT, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.1402/Chny/2015 िनधा"रण वष"/Assessment Year: 2000-01 M/S. Penta Media Graphics Ltd., The Deputy Commissioner Of ‘Taurus’, No. 25, First Main Road, Vs. Income Tax, Media Circle I, Room No. 311, 3Rd Floor, New Block, United India Colony, Kodambakkam, Chennai 600 024. 121, Mahatma Gandhi Road, Nungambakkam, Chennai 600 034. [Pan: Aaacp1647B] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri G. Baskar, Advocate & : Smt. Sree Valli Lakshmi, Advocate ""थ" की ओर से/Respondent By None [Dept. Letter Submission] : सुनवाई की तारीख/ Date Of Hearing 12.04.2023 : घोषणा की तारीख /Date Of Pronouncement : 10.05.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai Dated 30.03.2015 Passed Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

Block, United India Colony, Kodambakkam, Chennai 600 024. 121, Mahatma Gandhi Road, Nungambakkam, Chennai 600 034. [PAN: AAACP1647B] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant by Shri G. Baskar, Advocate & : Smt. Sree Valli Lakshmi, Advocate ""थ" की ओर से/Respondent by None [Dept. Letter submission] : सुनवाई की तारीख/ Date of hearing 12.04.2023 : घोषणा की तारीख /Date of Pronouncement

SMT. BIMALA DEVI AGARWAL,CHENNAI vs. ACIT,CENTRAL CIRCLE3(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 422/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

Block, 18th Floor, 3181, v. tax, Lumbini Square, Central -1, 127A-Bricklin Road, Chennai – 600 034. Purasawalkam, Chennai – 600 007. [PAN: AADPD-8240-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri. D. Anand, Advocate : Shri. R. Mohan Reddy, CIT ""यथ" क" ओर से/Respondent by सुनवाई की तारीख/Date of Hearing : 15.03.2023 घोषणा की तारीख/Date

ACIT, LTU-2,, CHENNAI vs. ASHOK LEYLAND LIMITED, CHENNAI

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

capital gains under the Act. According to the Hon’ble High Court, the terms of the agreement and the intent of the parties showed that the Business unit had been transferred as a going concern on as is where is basis and therefore it was held to be a ‘slump sale’. The relevant findings of the Hon’ble High Court

MAHINDRA RESIDENTIAL DEVELOPERS LTD.,CHENGALPUT vs. ITO, CHENNAI

Block,\nMahindra World City,\nNatham Sub-Post Office-603 004.\nChengalpattu.\n[PAN: AAFCM 4258 E]\n(अपीलार्थी/Appellant)\nv.\n(प्रत्यर्थी/Respondent)\nअपीलार्थी की ओर से/ Appellant by\nMr.Raghavan-\nRamabadram, Adv.\nMs. Bharathi Krishnaprasad,\nCA\nप्रत्यर्थी की ओर से / Respondent by\nShri A. Sasikumar, CIT\nसुनवाईकीतारीख/Date of Hearing\n24.06.2024\nघोषणाकीतारीख / Date of Pronouncement\n06.09.2024\nआदेश / ORDER\nPER

ACIT,CENTRAL CIRCLE -3(1), CHENNAI vs. CHENNAI PROPERTIES AND INVESTMENTS LTD , CHENNAI

In the result, the appeal filed by the assessee in ITA

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

Block B Wing, Chennai. 3rd Floor, Mena Kampala Arcade, Sri Theyagaraya Road, T.Nagar, Chennai – 600 017. PAN: AAACC 3726G (अपीलाथ"/Appellant) (""यथ"/Respondent) िनधा"रतीक" ओर से/Assessee by : Shri B. Ramakrishnan, FCA राज"वक"ओरसे /Revenue by : ShriP. SajitKumar,JCIT सुनवाई क" तारीख/Date of Hearing : 09.12.2022 घोषणा क" तारीख/Date of Pronouncement : 31.01.2023 I.T.A. Nos.222 & 310/Chny/2022 2 आदेश

M/S. MAHINDRA RESIDENTIAL DEVELOPERS LTD.,,KANCHIPURAM vs. ITO, CORPORATE WARD - 4 (1),, CHENNAI

In the result, the appeals of the assessee for AYs 2012-13, 2013-14

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.870/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 & आयकर अपील सं./Ita Nos.338 & 339/Chny/2020 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

gains are to be derived from the business of developing SEZ. The Ld. AR for the assessee invited our attention to the letter of approval issued by Ministry of Commerce and Industry dated 25.04.2008, copy of which was placed at Pages 106-109 of the paper- book and contended that the assessee was a ‘co-developer’ and therefore it qualified

M/S. MAHINDRA RESIDENTIAL DEVELOPERS LTD.,,KANCHIPURAM vs. ITO, CORPORATE WARD - 4 (1),, CHENNAI

In the result, the appeals of the assessee for AYs 2012-13, 2013-14\n& 2014-15 stands dismissed

Capital Gain,\" in\nthe acquisition of which no cost at all can be conceived. Good will generated in\nan individual's business was held to be an asset in which no cost element can\nbe identified or envisaged. It was also held that the date of acquisition of the\nasset is a material factor in applying the computation provisions pertaining

ABUSHA INVESTMENT & MANAGEMENT SERVICES LLP,CHENNAI vs. DCIT NON CORPORATE CIRCLE 7(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

blocking this escape route for avoiding capital gains tax by the Finance Act, 1987, has introduced Sub-section (3) to Section 45. The effect of this was that the profits and gains arising from the transfer of a capital asset by a partner to a firm are chargeable as the partner's income of the previous year in which

MOHAMED AKBAR,CHENNAI vs. ITO, NCC-10(3), CHENNAI

In the result, this appeal of the assessee is partly allowed

Bench: Shri Ss Viswanethra Ravi & Shri Ratnesh Nandan Sahaymohamed Akbar, I.T.O., 2/2 1St St., Gf, Apt No. 2, Vs. Non-Corporate Circle 10(3), Jamalia Perambur High Road, Chennai. Chennai-12 Pan No. Afepa 3815 Q Appellant/ Assessee Respondent/ Revenue

assessment was with regard to the non utilisation of amount blocked under Capital gains scheme. I was planning to buy two Flats

RAMANATHAN ADAIKALAVAN,COIMBATORE, TAMIL NADU vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSESSMENT CENTRE, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./ Ita No.557/Chny/2024 निर्ाारण वर्ा /Assessment Years: 2014-15 Ramanathan Adaikalavan, Deputy Commissioner Of Income Tax, No.80, Ansari Street, Ram Nagar, Non-Corporate Circle-2, Coimbatore-641009. Coimbatore [Pan: Aanpa6846P] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant) अपीलार्थी की ओर से/ Assessee By : Shri P.M.Kathir, Advocate. प्रत्यर्थी की ओर से /Revenue By : Ms.Gouthami Manivasagam, Jcit सुिवाई की तारीख/Date Of Hearing : 05.11.2024 घोर्णा की तारीख /Date Of Pronouncement : 06.12.2024 आदेश / O R D E R Per Amitabh Shukla, A.M :

capital gain during the assessment proceeding as detailed below: Particulars Amount in Rs. Amount in Rs. Remarks Sale consideration 6,80,00,000 Value of the site Rs.6,80,00,000 (Rs.6000 per sq ft @ 6450 per sq ft) Less: Indexed cost of Hotel 8,69,749 :- 4 -: Meena land (FY.1981-82 Rs.92,625 * 939/100 Less: Indexed cost

M/S. R.K. INVESTMENTS,CHENNAI vs. DCIT, NCC-3(1),, CHENNAI

The appeal stand allowed in terms of our above order

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1159/Chny/2024 (िनधा*रणवष* / Assessment Year: 2014-15) M/S. R.K. Investments Dcit Ground Floor, Block-Iv, Non-Corporate Circle-3(1) बनाम/ No.184-187,Temple Steps, Chennai. Vs. Anna Salai Little Mount, Chennai-600 015. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaafr-3413-Q (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Vijayaraghavan (Advocate)-Ld.Ar " थ"कीओरसे/Respondent By : Shri R. Clement Ramesh Kumar (Cit) -Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 31-07-2024 घोषणाकीतारीख /Date Of Pronouncement : 12-08-2024 आदेश / O R D E R

Block-IV, Non-Corporate Circle-3(1) बनाम/ No.184-187,Temple Steps, Chennai. Vs. Anna Salai Little mount, Chennai-600 015. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAAFR-3413-Q (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant by : Shri R. Vijayaraghavan (Advocate)-Ld.AR " थ"कीओरसे/Respondent by : Shri R. Clement Ramesh Kumar (CIT) -Ld. DR सुनवाईकीतारीख/Date of Hearing : 31-07-2024 घोषणाकीतारीख

GEORGE GEE VARGHESE,CHENNAI vs. ITO NON CORPORATE WARD 7(2), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 3004/Chny/2018 िनधा"रण वष" / Assessment Year: 2015-16 Shri. George Gee Varghese, The Income-Tax Officer, S-103, 4Th Street, Anna Nagar, V. Non Corporate Ward -7(2), Chennai – 600 040. Chennai – 600 034. [Pan:Ahspg-4301-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. R. Viajayaraghavan, Advocate अपीलाथ" क" ओर से/Appellant By ""यथ" क" ओर से/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 29.03.2023 घोषणा क" तारीख/Date Of Pronouncement : 10.05.2023 आदेश /O R D E R

capital gains tax. 7.3 Now, we have to see whether the factual matrix in our appellant's case fit into that of the cases cited supra. The only material evidences furnished before me during appellate proceedings are as under: i. Receipt issued by the Kerala Government evidencing :-8-: ITA. No: 3004/Chny/2018 payment towards Agricultural Workers Welfare Fund. Sale Deed (vendor

S RAJASEKARAN,CHENNAI vs. DCIT, NCC-7(1), CHENNAI

In the result, the appeal of the assessee is partly allowed for statistical purposes, in the manner indicated above

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

Block, 13th Main Road, vs. Income -tax, Anna Nagar, Non-Corporate Circle -7(1), Chennai- 600 040. Chennai – 600 034. [PAN: AEUPR-2480-R] (अपीलाथ'/Appellant) (()यथ'/Respondent) अपीलाथ' क* ओर से/Appellant by : Shri. M. Karunakaran, Advocate ()यथ' क* ओर से/Respondent by : Shri. Kumar Chandan, JCIT सुनवाई क* तार"ख/Date of Hearing : 20.01.2026 घोषणा क* तार"ख

PRECOT LIMITED ,COIMBATORE vs. ACIT,CORPORATE CIRCLE 2, COIMBATORE

In the result, appeal of the assessee is dismissed

Bench: Shri Mahavir Singh, Vice- & Shri Arun Khodpiaआयकरअपीलसं./I.T.A.No.132/Chny/2022 (िनधा"रणवष" / Assessment Year: 2014-15) Vs The Assistant Commissioner Of M/S. Precot Limited Sf No.559/4, D Block, 4Th Floor, Income Tax, Hanudev Info Park, Nava India Road Corporate Circle-2, Udaiyampalayam, Coimbatore. Coimbatore-641 028. Pan : Aabcp 3038K (अपीलाथ"/Appellant) (""यथ"/Respondent)

Block, 4th floor, Income Tax, Hanudev Info Park, Nava India Road Corporate Circle-2, Udaiyampalayam, Coimbatore. Coimbatore-641 028. PAN : AABCP 3038K (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/ Appellant by : Mr. S.Sridhar, Advocate ""यथ"क"ओरसे/Respondent by : Mr. D.Hema Bhupal, JCIT सुनवाईक"तारीख/Date of hearing : 15.03.2023 घोषणाक"तारीख /Date of Pronouncement : 19.04.2023 आदेश आदेश

ITO, NCW - 15 (1), , CHENNAI vs. SHRI KESAVARAMANUJAM SOUNDARARAJAN ANBUSELVAN, CHENNAI

In the result, appeals filed by the assessee, as well as the Revenue are allowed for statistical purposes

Bench: Shri Manjunatha. G & Shri Manomohan Dasआयकरअपीलसं./Ita No.3285/Chny/2019 िनधा"रणवष"/Assessment Year: 2016-17 Mr.K.S.Anbuselvan, V. The Income Tax Officer, 109/56, Fifth Street, Non-Corporate Ward-15(1), Padmanabhanagar, Chennai. Adyar, Chennai-600 020. [Pan:Aaepa 3906 B] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.103/Chny/2020 िनधा"रणवष"/Assessment Year: 2016-17 The Income Tax Officer, V. Mr.Kesavaramanujam- Non-Corporate Ward-15(1), Soundararajananbuselvan, No.56, 5Th Street, Chennai. Padmanabhanagar, Adyar, Chennai-600 020. [Pan: Aaepa 3906 B] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Mr.S.Sridhar, Adv. अपीलाथ" क" ओर से/ Appellant By : ""यथ" क" ओर से /Respondent By Mr.Ar.V.Sreenivasan, Addl.Cit : 06.06.2023 सुनवाईक"तारीख/Date Of Hearing : घोषणाक"तारीख /Date Of Pronouncement 14.06.2023

Capital Gains from the sale of the land, namely, the land at Perumbakkam village, Sholinganallur Taluk, Kanchipuramdist, without assigning proper reasons and justification. 4. The Appellant craves leave to file additional grounds/arguments at the time of hearing. 3. The Revenue has raised the following grounds of appeal in ITA No.103/Chny/2020: 1. The order of the Ld. CIT(A) is contrary

SHRI K.S. ANBUSELVAN,,CHENNAI vs. ITO, CC-15(1),, CHENNAI

In the result, appeals filed by the assessee, as well as the Revenue are allowed for statistical purposes

Bench: Shri Manjunatha. G & Shri Manomohan Dasआयकरअपीलसं./Ita No.3285/Chny/2019 िनधा"रणवष"/Assessment Year: 2016-17 Mr.K.S.Anbuselvan, V. The Income Tax Officer, 109/56, Fifth Street, Non-Corporate Ward-15(1), Padmanabhanagar, Chennai. Adyar, Chennai-600 020. [Pan:Aaepa 3906 B] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.103/Chny/2020 िनधा"रणवष"/Assessment Year: 2016-17 The Income Tax Officer, V. Mr.Kesavaramanujam- Non-Corporate Ward-15(1), Soundararajananbuselvan, No.56, 5Th Street, Chennai. Padmanabhanagar, Adyar, Chennai-600 020. [Pan: Aaepa 3906 B] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Mr.S.Sridhar, Adv. अपीलाथ" क" ओर से/ Appellant By : ""यथ" क" ओर से /Respondent By Mr.Ar.V.Sreenivasan, Addl.Cit : 06.06.2023 सुनवाईक"तारीख/Date Of Hearing : घोषणाक"तारीख /Date Of Pronouncement 14.06.2023

Capital Gains from the sale of the land, namely, the land at Perumbakkam village, Sholinganallur Taluk, Kanchipuramdist, without assigning proper reasons and justification. 4. The Appellant craves leave to file additional grounds/arguments at the time of hearing. 3. The Revenue has raised the following grounds of appeal in ITA No.103/Chny/2020: 1. The order of the Ld. CIT(A) is contrary