IL&FS TAMILNADU POWER COMPANY LTD,CHENNAI vs. DCIT CORP CIRCLE 1(1), CHENNAI

In the result, the appeal of the revenue is partly allowed for statistical purposes

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri Amitabh Shuklaआयकर अपील सं./Ita No.1332/Chny/2024, Assessment Years: 2018-19 आयकर अपील सं./Ita No.1694/Chny/2024, Assessment Years: 2018-19 Il & Fs Tamil Nadu Power Company Deputy Commissioner Of Income Limited, Tax, Old No.21, New No.2, Kpr Tower, Corporate Circle-1(1), 4Th Floor, Greams Road, Chennai S.O, Nungambakkam Chennai-600 006. [Pan: Aabcf1176A] आयकर अपील सं./Ita No.1694/Chny/2024, Assessment Years: 2018-19 Deputy Commissioner Of Income Il & Fs Tamil Nadu Power Company Tax, Limited, Corporate Circle-1(1), Old No.21, New No.2, Kpr Tower, Chennai 4Th Floor, Greams Road, S.O, Nungambakkam Chennai-600 006. [Pan: Aabcf1176A] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant) अपीलार्थी की ओर से/ Assessee By : Shri.Ashwin, Ca प्रत्यर्थी की ओर से /Revenue By : Shri Shivanand K Kalakeri, Cit सुनवाई की तारीख/Date Of Hearing : 26.03.2025 घोषणा की तारीख /Date Of Pronouncement : 25.04.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

natural justice are therefore dismissed. 5.0 The next issue raised by the assessee through its grounds of appeal is regarding the addition of Rs.19,90,79,300/- made by the Ld.AO Page - 3 - of 33 ITA No.1332 & 1694 /Chny/2025 on account of foreign exchange forward contracts and its confirmation by the Ld. First Appellate Authority. The Ld. Counsel

ASSISTANT COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1 1, CHENNAI vs. IL AND FS TAMILNADU POWER COMPANY LIMITED, CHENNAI

In the result, the appeal of the revenue is partly allowed for\nstatistical purposes

natural justice stating that\nproper opportunity of being heard was not given. The Ld. Counsel for\nthe assessee submitted that emails were sent on the email address of\nformer employee and hence the non-compliance to the Ld. AO's notices\nwas justified.\n3.0\nThe Ld. DR placed reliance on the order of lower authorities.\n4.0\nWe have heard rival

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 after allowing the benefit of cost indexation as claimed by the assessee.” 9. According to the ld. Counsel, the facts and circumstances of the above decision is squarely applicable to the assessee’s case and hence prayed for quashing the impugned order of Ld.PCIT and allow the appeal of the assessee. 10. Per contra, the ld.DR supported

TAMIL NADU BRICK INDUSTRIES,CHENNAI vs. ITO, CHENNAI

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.744/Chny/2017 "नधा"रण वष"/Assessment Year:2013-14 M/S. Tamilnadu Brick Industries, The Income Tax Officer, No. 47, Mangali Nagar 1St Street, Vs. Non Corporate Circle 8(1), Arumbakkam, Chennai 600 106. Chennai. [Pan: Aafft3643P] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Shri Vijay Kumar Punna, Jr. Standing Counsel सुनवाई क" तार"ख/ Date Of Hearing : 13.02.2018 घोषणा क" तार"ख /Date Of Pronouncement : 11.05.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Chennai, Dated 27.02.2017 Relevant To The Assessment Year 2013-14. The Assessee Has Raised The Following Grounds: “1. The Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 27.02.2017 In I.T.A.No.07/Cit(A)-9/2016-17 For The Above Mentioned Assessment Year Is Contrary To Law, Facts & In The Circumstances Of The Case.

justice by deleting the addition made under long term capital gains. 5. Per contra, by filing detailed written submissions, the ld. DR pleaded for confirmation of orders of authorities below. 6. We have heard both sides, perused the materials available on record and gone through the orders of authorities below. The assessee was engaged in the business of brick manufacture

SMT. SHOBA AGARWAL,CHENNAI vs. ACIT CENT CIRCLE 3(2), 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.: 421/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gain benefit. The :-13-: ITA. No:421/Chny/2022 typographical error in the reasons recorded, admitted by the assessee, does not affect the exercise of jurisdiction under sec. 263 when the pre-requisite conditions are satisfied. Therefore, there is no merit in these pleas and it does not in any manner affect the principles of natural justice

SHRI VINOD BANSAL,CHENNAI vs. ACI-CENT. CIRCLE-3(2), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkery, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 445/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gain benefit. The :-13-: ITA. No:445/Chny/2022 typographical error in the reasons recorded, admitted by the assessee, does not affect the exercise of jurisdiction under sec. 263 when the pre-requisite conditions are satisfied. Therefore, there is no merit in these pleas and it does not in any manner affect the principles of natural justice

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

capital gain benefit. The :-13-: ITA. No:422/Chny/2022 typographical error in the reasons recorded, admitted by the assessee, does not affect the exercise of jurisdiction under sec. 263 when the pre-requisite conditions are satisfied. Therefore, there is no merit in these pleas and it does not in any manner affect the principles of natural justice

PANKAJ AGARWAL,CHENNAI vs. PCIT , CHENAI

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.: 434/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gain benefit. The typographical error in the reasons recorded, admitted by the assessee, does not affect the exercise of jurisdiction under sec. 263 when the pre-requisite conditions are satisfied. Therefore, there is no merit in these pleas and it does not in any manner :-13-: ITA. No:434/Chny/2022 affect the principles of natural justice

SMT.RITA AGARWAL ,CHENAI vs. PCIT , 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.: 433/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gain benefit. The typographical error in the reasons recorded, admitted by the :-13-: ITA. No:433/Chny/2022 assessee, does not affect the exercise of jurisdiction under sec. 263 when the pre-requisite conditions are satisfied. Therefore, there is no merit in these pleas and it does not in any manner affect the principles of natural justice

LATE S. YOGARATHINAM, REP. BY L/H Y. SHANMUGA DURAI,CHENNAI vs. ACIT, CIRCLE-1(2), CHENNAI

In the result the appeal of the assessee is allowed

Bench: Shri George George Kand Shri S.R. Raghunathaआयकर अपील सं./Ita No.:626/Chny/2024 िनधा"रण वष"/Assessment Year:2010-11 Shri Y. Shanmuga Durai, L/H Of Acit Late S.Yogarathinam Vs. Circle -1(2) Old No.24, No.14, Chennai. 17/24, Ramanathan Street, T.Nagar, Chennai-600 017. Pan: Aakpy-9845-P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Mr. N. Arjun Raj, Advocate ""यथ"क"ओरसे/Respondent By : Mr. Ar.V. Sreenivasan, Cit सुनवाई क" तारीख/Date Of Hearing : 06.03.2025 घोषणा क" तारीख/Date Of Pronouncement : 17.03.2025

capital gains on the account of transfer of properties between the two, if any, the consequential order passed by them should be reckoned as bad in law.] 11. The CIT (Appeals) -18, Chennai failed to appreciate that order of search assessment under Section 153C of the Act was passed out of time, invalid, passed without jurisdiction and not sustainable both

M.KIRAN KUMAR,CHENNAI vs. ACIT CENTRAL CIRCLE-1(4), CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunatha

natural justice and fair play. 2. The Commissioner of Income Tax (Appeals) has erred in upholding the order of the Assessing Officer in adding a sum of Rs.20,00,00,000/- as undisclosed income of the appellant. 3. The Commissioner of Income Tax (Appeals) has failed to appreciate that the addition of Rs.20,00,00,000/- as undisclosed income

ACIT,, CHENNAI vs. SRI. K.SRIKANTH,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Capital Gains. 12. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing the impugned order and any order passed in violation of the principles of natural justice

SHRI K.SRIKANTH,CHENNAI vs. ACIT, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Capital Gains. 12. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing the impugned order and any order passed in violation of the principles of natural justice

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Capital Gains. 12. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing the impugned order and any order passed in violation of the principles of natural justice

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Capital Gains. 12. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing the impugned order and any order passed in violation of the principles of natural justice

M/S. INDO NATIONAL LIMITED,CHENNAI vs. ACIT, CORP CRICLE -2(2). CHENNAI, CHENNAI

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

Bench: Shri Aby T. Varkey & Shrimanoj Kumar Aggarwal

justice and fair-play, we set aside this issue back set aside this issue back to AO to examine whether the assessee met the two conditions as stated to AO to examine whether the assessee met the two conditions as stated to AO to examine whether the assessee met the two conditions as stated at para 4.2 (supra) and assessee

M/S. INDO NATIONAL LIMITED,CHENNAI vs. ACIT COPRATE CRICLE-2(2), CHENNAI, CHENNAI

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

Bench: Shri Aby T. Varkey & Shrimanoj Kumar Aggarwal

justice and fair-play, we set aside this issue back set aside this issue back to AO to examine whether the assessee met the two conditions as stated to AO to examine whether the assessee met the two conditions as stated to AO to examine whether the assessee met the two conditions as stated at para 4.2 (supra) and assessee

RAMASAMI PALANISAMY,TIRUPUR vs. ITO, WARD-2(1), ERODE

In the result, appeal filed by the assessee is allowed

capital gain from the\ntransfer of impugned property in question. Upon being convinced by the\nassertion made by Mr. TSRK, the Revenue is noted to have dropped the\nproceedings by an order passed u/s.148A(d) of the Act dated 07.04.2023\nwherein the ACIT, Central Circle-1, Coimbatore, has recorded the\nfollowing observations:-\n5. It is found that the first property