HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

gain in increasing the value of the company. Thus, this support and loyalty becomes an intangible asset for the company which gets accumulated every year 8. The TPO then noted that the assessee had the brand value of Hyundai, as evident from the ‘Interbrand’ valuation- which is one off the most respected brand valuation worldwide, the Hyundai

DCIT, CHENNAI vs. HYUNDAI MOTORS INDIA LTD., KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

gain in increasing the value of the company. Thus, this support and loyalty becomes an intangible asset for the company which gets accumulated every year 8. The TPO then noted that the assessee had the brand value of Hyundai, as evident from the ‘Interbrand’ valuation- which is one off the most respected brand valuation worldwide, the Hyundai

DCIT, CHENNAI vs. HYUNDAI MOTOR INDIA LIMITED, KANCHEEPURAM

In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...

gain in increasing the value of the company. Thus, this support and loyalty becomes an intangible asset for the company which gets accumulated every year 8. The TPO then noted that the assessee had the brand value of Hyundai, as evident from the ‘Interbrand’ valuation- which is one off the most respected brand valuation worldwide, the Hyundai

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

permanent establishment in India nor did his ITA Nos.2330 & 2618/Chny/2019 (AY 2015-16) M/s. Ashok Leyland Ltd. :: 17 :: stay in India exceeded 183 days during the year. The Ld. AR particularly invited our attention to the copy of passport of Mr. Yukhiro Ando, which was placed at Pages 172, 173 & 182 of the Paper Book-I and the summary

DCIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

capital asset situated in India." 44. The NRR who accepts a share of the reinsurance ceded by the Indian Insurer: a.does not have a presence in India either through representative offices/Branch Offices or even subsidiaries in India; b.capacity to undertake the reinsurance is outside India; c.all assets are located outside India and hence risk is undertaken outside India; d.support activities

DCIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

capital asset situated in India." 44. The NRR who accepts a share of the reinsurance ceded by the Indian Insurer: a.does not have a presence in India either through representative offices/Branch Offices or even subsidiaries in India; b.capacity to undertake the reinsurance is outside India; c.all assets are located outside India and hence risk is undertaken outside India; d.support activities

DCIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

capital asset situated in India." 44. The NRR who accepts a share of the reinsurance ceded by the Indian Insurer: a.does not have a presence in India either through representative offices/Branch Offices or even subsidiaries in India; b.capacity to undertake the reinsurance is outside India; c.all assets are located outside India and hence risk is undertaken outside India; d.support activities

ACIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

capital asset situated in India." 44. The NRR who accepts a share of the reinsurance ceded by the Indian Insurer: a.does not have a presence in India either through representative offices/Branch Offices or even subsidiaries in India; b.capacity to undertake the reinsurance is outside India; c.all assets are located outside India and hence risk is undertaken outside India; d.support activities

DCIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

capital asset situated in India." 44. The NRR who accepts a share of the reinsurance ceded by the Indian Insurer: a.does not have a presence in India either through representative offices/Branch Offices or even subsidiaries in India; b.capacity to undertake the reinsurance is outside India; c.all assets are located outside India and hence risk is undertaken outside India; d.support activities

ACIT, CHENNAI vs. UNITED INDIA INSURANCE COMPANY, CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

capital asset situated in India." 44. The NRR who accepts a share of the reinsurance ceded by the Indian Insurer: a.does not have a presence in India either through representative offices/Branch Offices or even subsidiaries in India; b.capacity to undertake the reinsurance is outside India; c.all assets are located outside India and hence risk is undertaken outside India; d.support activities

DCIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

capital asset situated in India." 44. The NRR who accepts a share of the reinsurance ceded by the Indian Insurer: a.does not have a presence in India either through representative offices/Branch Offices or even subsidiaries in India; b.capacity to undertake the reinsurance is outside India; c.all assets are located outside India and hence risk is undertaken outside India; d.support activities

VINODHINI,CHENNAI vs. ACIT, CENTRAL CIRCLE-1(2), CHENNAI

Appeal stand allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकर अपील सं./ Ita No.921/Chny/2023 (िनधा9रण वष9 / Assessment Year: 2018-19) Mrs. Vinodhini Acit बनाम/ Flat No.14, Door No.98, Central Circle-1(2) Harrington Road, Chetpet, Vs. Chennai. Chennai-600 031. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Bmapv-2726-D (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Appellant By : Shri N. Arjun Raj (Advocate)- Ld.Ar " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit)-Ld. Sr. Dr सुनवाई की तारीख/Date Of Hearing : 20-06-2024 घोषणा की तारीख /Date Of Pronouncement : 18-09-2024

establish that the land was agricultural land. The assessee, within short duration, sold the land to a company for non- agricultural purposes. The land could not be used for agricultural purposes by the assessee. The assessee did not produce any evidence to show that the land was purchased and sold as agricultural land. Considering the duration of the holding

DCIT, CHENNAI vs. M/S. SIFY TECHNOLOGIES LTD., CHENNAI

In the result, the appeal of the Revenue in ITA No

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

permanent establishment and business connection of the assessee. Hence, we remit entire issue to the file of Assessing Officer to verify the claim and pass the order. This ground of the Revenue is allowed for statistical purpose. Now we adjudicate ITA No.439/Mds/2010 of assessment 20. years 2006-2007:- The first ground raised in this appeal is with regard to Employee

DCIT, CHENNAI vs. M/S. SIFY TECHNOLOGIES LTD., CHENNAI

In the result, the appeal of the Revenue in ITA No

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

permanent establishment and business connection of the assessee. Hence, we remit entire issue to the file of Assessing Officer to verify the claim and pass the order. This ground of the Revenue is allowed for statistical purpose. Now we adjudicate ITA No.439/Mds/2010 of assessment 20. years 2006-2007:- The first ground raised in this appeal is with regard to Employee

DCIT, CHENNAI vs. M/S. SIFY TECHNOLOGIES LTD., CHENNAI

In the result, the appeal of the Revenue in ITA No

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

permanent establishment and business connection of the assessee. Hence, we remit entire issue to the file of Assessing Officer to verify the claim and pass the order. This ground of the Revenue is allowed for statistical purpose. Now we adjudicate ITA No.439/Mds/2010 of assessment 20. years 2006-2007:- The first ground raised in this appeal is with regard to Employee

ITO, CHENNAI vs. TVS SHRIRAM GRWOTH FUND, CHENNAI

In the result, the Appeal of the assessee is partly allowed and the Revenue’s appeals dismissed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

capital gain depending on the period of holding. 55. Under clause-2 of the contribution Agreement, the contributor/beneficiary/investor agrees to contribute a specified sum to the trust/fund. Clause-2.6 of the contribution agreement specifies that the contributor/investor/beneficiary shall not have any right to demand the return of his/her/its fund contributor, other than upon dissolution of the fund. Clause-2.6.2 provides

ITO, CHENNAI vs. TVS SHRIRAM GROWTH FUND, CHENNAI

In the result, the Appeal of the assessee is partly allowed and the Revenue’s appeals dismissed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

capital gain depending on the period of holding. 55. Under clause-2 of the contribution Agreement, the contributor/beneficiary/investor agrees to contribute a specified sum to the trust/fund. Clause-2.6 of the contribution agreement specifies that the contributor/investor/beneficiary shall not have any right to demand the return of his/her/its fund contributor, other than upon dissolution of the fund. Clause-2.6.2 provides

T vs. SHRIRAM GROWTH FUND,CHENNAIVS.ITO, CHENNAI

In the result, the Appeal of the assessee is partly allowed and the Revenue’s appeals dismissed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

capital gain depending on the period of holding. 55. Under clause-2 of the contribution Agreement, the contributor/beneficiary/investor agrees to contribute a specified sum to the trust/fund. Clause-2.6 of the contribution agreement specifies that the contributor/investor/beneficiary shall not have any right to demand the return of his/her/its fund contributor, other than upon dissolution of the fund. Clause-2.6.2 provides