UNITED INDIA INSURANCE CO LTD,CHENNAI vs. PCIT, CHENNAI

2 to 5 raised by the assessee in challenging the action\nof the Id. PCIT in passing revision order under section 263 of the Income\nTax Act, 1961 [“Act” in short] by holding that the assessee is not entitled\nto claim deduction under section 10(38) of the Act towards profit on sale\nof investments.\n6.\nBrief facts as emanating

UNITED INDIA INSURANCE CO.LIMITED,CHENNAI vs. PCIT-3, CHENNAI

2 to 5 raised by the assessee in challenging the action\nof the Id. PCIT in passing revision order under section 263 of the Income\nTax Act, 1961 [“Act” in short] by holding that the assessee is not entitled\nto claim deduction under section 10(38) of the Act towards profit on sale\nof investments.\n6.\nBrief facts as emanating

UNITED INDIA INSURANCE CO.LTD,CHENNAI vs. PCIT-3,, CHENNAI

2 to 5 raised by the assessee in challenging the action\nof the Id. PCIT in passing revision order under section 263 of the Income\nTax Act, 1961 [“Act” in short] by holding that the assessee is not entitled\nto claim deduction under section 10(38) of the Act towards profit on sale\nof investments.\n6.\nBrief facts as emanating

UNITED INDIA INSUANCE CO LIMITED,CHENNAI vs. PCIT 3, CHENNAI

2 to 5 raised by the assessee in challenging the action\nof the Id. PCIT in passing revision order under section 263 of the Income\nTax Act, 1961 [“Act” in short] by holding that the assessee is not entitled\nto claim deduction under section 10(38) of the Act towards profit on sale\nof investments.\n6.\nBrief facts as emanating

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

2(42C) was being alleged to have been violated, then the AO ought to have computed itemized capital gains for each capital asset under Section 45 of the Act, and under no circumstance could the gains ITA Nos.2330 & 2618/Chny/2019 (AY 2015-16) M/s. Ashok Leyland Ltd. :: 45 :: computed in accordance with Section 50B, be assessed as ‘business income

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. MANIKANDAN, CHENNAI

The appeal of the Revenue is dismissed

10 -:\nITA No.2986/Chny/2025\nManikandan\nassessable entity apart from its partners. This is clear from Sections 45(1),\n(3) and (4), of the Income Tax Act which reads as under:\n\"45. [(1)] Any profits or gains arising from the transfer of a capital\nasset effected in the previous year shall, save as otherwise\nprovided in sections

DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE-1, TIRUPPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING P LTD, TIRUPPUR,TAMILNADU

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

10 above, we note that the assessee/ petitioner therein challenged the constitutional validity of impugned sub- clause (xviii) to section 2(24) of the Act, whereby, contending all incentives given in whichever form by the Government and with whatever purpose of objective are to be treated as income, irrespective of the fact as to whether or not the same

ACIT, CIRCLE-1, , TIRUPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING (P) LTD., TIRUPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

10 above, we note that the assessee/ petitioner therein challenged the constitutional validity of impugned sub- clause (xviii) to section 2(24) of the Act, whereby, contending all incentives given in whichever form by the Government and with whatever purpose of objective are to be treated as income, irrespective of the fact as to whether or not the same

GEENA GARMENTS,TIRUPPUR vs. ACIT, CIRCLE-1, TIRUPPUR, TIRUPPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

10 above, we note that the assessee/ petitioner therein challenged the constitutional validity of impugned sub- clause (xviii) to section 2(24) of the Act, whereby, contending all incentives given in whichever form by the Government and with whatever purpose of objective are to be treated as income, irrespective of the fact as to whether or not the same

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LTD.,CHENNAI vs. ACIT, LARGE TAXPAYER UNIT-1, CHENNAI

Bench: Shri Mahavir Singh, Hon’Ble & Shrimanjunatha.G, Hon’Bleआयकरअपीलसं./Ita No.269/Chny/2022 िनधा"रणवष"/Assessment Year: 2017-18 V. M/S.Cognizant Technology- The Asst. Commissioner- Solutions India Pvt. Ltd., Of Income Tax, 5/535, Okkiam, Thoriapakkam, Large Taxpayer Unit-1, Old Mahabalipuram Road, Chennai. Chennai-600 096. [Pan:Aaacd 3312 M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Ajay Vohra, Sr.Counsel For Shri N.V. Balaji, Adv. ""यथ" क" ओर से /Respondent By : Shri R.Shankaranarayanan, Additional Solicitor – General Of India For Shri A.P.Srinivas, Sr. Standing Counsel : सुनवाईक"तारीख/Date Of Hearing 03.07.2023 घोषणाक"तारीख /Date Of Pronouncement : 13.09.2023

2(22)(d) and not as capital gains u/s 46A. Based on this, the AO held that the assessee is liable for DDT u s 115¬O .The _shareholders are exempt u/s 10(34). It is the assessee who had taken the unilateral decision to withhold tax on the payments to the NR shareholders, ignoring its obligation

GOKULAKRISHNA,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE 8(1), CHENNAI

In the result, the appeal filed by the assessee is allowed and the stay\napplication is dismissed

capital gain on the amounts credited to the\npartners' current account as a consideration against the sacrificing ratio on\nadmission of new partner.\n3. Brief facts of the case are as follows:\n4. The assessee is one of the partners in M/s. CRCL LLP [CRCL], a\nLimited Liability Partnership (LLP). The firm was incorporated on\n15.07.2016 with an objective

ASIRVAD MICRO FINANCE LIMITED,ANNA SALAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -1(1), CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1140/Chny/2025 Assessment Years: 2016-17 Asirvad Micro Finance Limited, Assistant Commissioner Of No.9, 9Th Floor, Club House Road, Income Tax, Annasalai, Corporate Circle-1(1), Chennai-600 002 Chennai. [Pan: Aagca5275J] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr.P.R.Prasanna Varma, Fca & Mr.Arjun Rajagopalan, C.A. प्रत्यर्थी की ओर से /Revenue By : Mr.Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 25.09.2025 घोषणा की तारीख /Date Of Pronouncement : 05.12.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

capital of such subsidiary company has been held by the parent company or by its nominees throughout the previous year.]….” “…Section 56(2)(viib) 56. Income from other sources. (1) Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head "Income from other sources

T.L.SRITHARAN,CHENNAI vs. ACIT NON CORPORATE CIRCLE-14, CHENNAI

In the result, appeal filed by the assessee is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.: 1596/Chny/2019 िनधा"रण वष" / Assessment Year: 2014-15 T.L. Sritharan, The Assistant Commissioner Of New No. 13, (Old No. 1), V. Income Tax, Swaminathan Street, Non-Corporate Circle -14, West Mambalam, Chennai – 600 034. Chennai – 600 033. [Pan: Aepps-6766-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. R. Vijayaraghavan, Advocate & Shri. Saroj Kumar Parida, Advocate ""यथ" क" ओर से/Respondent By : Shri. Ar.V. Sreenivasan, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 22.12.2022 घोषणा क" तारीख/Date Of Pronouncement : 04.01.2023 आदेश /O R D E R

10,400/-. Thus, the assessee had claimed total capital loss from exchange of lands with lands from another person at Rs. 83,06,380/- and claimed set off against long term capital gains. Before the Assessing Officer, the assessee argued that when layout was :-4-: ITA. No:1596/Chny/2019 formed with various survey nos. lands belongs to other persons including

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

capital gains.\n2. The assessee preferred an appeal to the AAC. Before the AAC, in addition to\ncontending that the rights transferred under the document cannot be\nconsidered to be a capital asset, it was also contended that there was no\ntransfer of any capital asset. The AAC held that the term \"property\" would\ninclude, in the case of land

VICTUS DYEINGS ,TIRUPUR vs. ACIT , CIRCLE-1, TIRUPUR

10 above, we note that the assessee/\npetitioner therein challenged the constitutional validity of impugned sub-\nclause (xviii) to section 2(24) of the Act, whereby, contending all\nincentives given in whichever form by the Government and with whatever\npurpose of objective are to be treated as income, irrespective of the fact\nas to whether or not the same

KM KNIT WEAR,TIRUPUR vs. ADIT,CPC, BANGALORE

In the result, ITA Nos. 3326/Chny/2019, 326/Chny/2024 &\n768/Chny/2022 are dismissed; ITA No

10 above, we note that the assessee/\npetitioner therein challenged the constitutional validity of impugned sub-\nclause (xviii) to section 2(24) of the Act, whereby, contending all\nincentives given in whichever form by the Government and with whatever\npurpose of objective are to be treated as income, irrespective of the fact\nas to whether or not the same

GATES WEARS,TIRUPPUR vs. DCIT CIRCLE 1, TIRUPPUR

In the result, ITA Nos. 3326/Chny/2019, 326/Chny/2024 &\n768/Chny/2022 are dismissed; ITA No

10 above, we note that the assessee/\npetitioner therein challenged the constitutional validity of impugned sub-\nclause (xviii) to section 2(24) of the Act, whereby, contending all\nincentives given in whichever form by the Government and with whatever\npurpose of objective are to be treated as income, irrespective of the fact\nas to whether or not the same

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

10, 1970 effected the transfer of a capital asset within the meaning of section 45 of the Income-tax Act, 1961 and, accordingly, liable to capital gains tax? (ii) Whether, on the facts and in the circumstances of the case the Tribunal is right in law in holding that the cost of lease hold right is capable of valuation