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

section 153A r.w.s 153C of the Income Tax Act was re-opened under the same pretext under which the assessment order is subjected to revision and that the learned AO after duly examining the documentary evidence filed by the assessed has considered the transaction in shares as genuine in nature. 6. The learned Principal Commissioner Of Income tax ought

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

section 153A r.w.s 153C of the Income Tax Act was re-opened under the same pretext under which the assessment order is subjected to revision and that the learned AO after duly examining the documentary evidence filed by the assessed has considered the transaction in shares as genuine in nature. 6. The learned Principal Commissioner Of Income tax ought

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

section 153A r.w.s 153C of the Income Tax Act was re-opened under the same pretext under which the assessment order is subjected to revision and that the learned AO after duly examining the documentary evidence filed by the assessed has considered the transaction in shares as genuine in nature. 6. The learned Principal Commissioner Of Income tax ought

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

section 153A r.w.s 153C of the Income Tax Act was re-opened under the same pretext under which the assessment order is subjected to revision and that the learned AO after duly examining the documentary evidence filed by the assessed has considered the transaction in shares as genuine in nature. 6. The learned Principal Commissioner Of Income tax ought

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

section 153A r.w.s 153C of the Income Tax Act was re-opened under the same pretext under which the assessment order is subjected to revision and that the learned AO after duly examining the documentary evidence filed by the assessed has considered the transaction in shares as genuine in nature. 6. The learned Principal Commissioner Of Income tax ought

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

section 131 of the Act to the buyers. According to the Assessing Officer, the said summons returned un-served and by considering the agreement of Sale cum General Power of Attorney dated 24.10.2008, he held that the sale is completed. Accordingly, by allowing indexed cost of acquisition, the Assessing Officer determined the capital gains

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

section 131 of the Act to the buyers. According to the Assessing Officer, the said summons returned un-served and by considering the agreement of Sale cum General Power of Attorney dated 24.10.2008, he held that the sale is completed. Accordingly, by allowing indexed cost of acquisition, the Assessing Officer determined the capital gains

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

section 131 of the Act to the buyers. According to the Assessing Officer, the said summons returned un-served and by considering the agreement of Sale cum General Power of Attorney dated 24.10.2008, he held that the sale is completed. Accordingly, by allowing indexed cost of acquisition, the Assessing Officer determined the capital gains

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

section 131 of the Act to the buyers. According to the Assessing Officer, the said summons returned un-served and by considering the agreement of Sale cum General Power of Attorney dated 24.10.2008, he held that the sale is completed. Accordingly, by allowing indexed cost of acquisition, the Assessing Officer determined the capital gains

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

In the result, appeal filed by the assessee is allowed

Section 194-IA, was deducted and\npaid by the purchaser to the PAN of seller i.e., Mr.TSRK, details of which\nare found at Page No.9 of the Sale Deed (refer Page No.10 of the PB).\n10. Pursuant thereto, Mr. TSRK is noted to have filed his original return\nof income for AY 2016-17 declaring total income at Rs.35

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

section). It is the submission of the assessee that Sec.46A of the Income Tax Act, 1961, being a special provision for bringing into tax capital gains arising to a shareholder on purchase of shares must be given full effect. He further referring to budget speech of the Hon’ble Finance Minister and also the decision of the Hon’ble Supreme

M/S. DEENSONS TRADING CO. PVT. LTD.,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the assessee is dismissed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.2774/Mds/2016 "नधा"रण वष" /Assessment Year: 1997-98

gain – Held, yes Reasoning adopted in this case was that the definition of capital asset as given in section 2(14) of the Act does not include stock-in-trade held by the assessee for the purpose of his business or profession. The property in question which was held by the assessee as stock-in-trade could not be regarded

M/S. BHAGGYAM BUILDERS,CHENNAI vs. ACIT, CHENNAI

In the result, the assessee’s appeal is dismissed

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं/.I.T.A. No. 2614/Mds/2016 "नधा"रण वष"/Assessment Year : 2010-11 M/S. Bhaggyam Builders, The Assistant Commissioner Of No. 20, Raman Street, Vs. Income Tax, T. Nagar, Non Corporate Circle -1, Chennai – 600 017. Chennai.

section 45(1) and hence submitted that the impugned transaction is not a :-4-: transfer. Further, the AR relying on this tribunal decision in the case of ACIT vsGoyal Dresses in ITA No. 1478/Mds/2007 for assessment year 2004-05 dated 22.08.2008, reported in 126 ITD 131 contended that capital gain

KESAVAN VANITHAMANI,CHENNAI vs. ITO, NCW-19(4), CHENNAI

Bench: Ms. Padmavathy.S & Shri Manu Kumar Giriआयकर अपील सं./Ita Nos.2451 & 2452/Chny/2025 िनधा$रण वष$ /Assessment Years: 2017-18 & 2018-19

capital gains based on the ITA Nos.2451 & 2452/Chny/2025 Kesavan Vanithamani :- 6 -: sale of UDS by the developer while the construction is in progress. The Ld. AR further submitted that the possession of the property was handed over to the developer in FY 2016-17 and therefore, the assessee has offered the sale consideration towards

ANTHIAH PANCRAS,TIRUVANNAMALAI vs. ITO WARD 1, THIRUVANNAMALAI

In the result, the appeal filed by the assessee for ay: 2008-09 shall

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

gain on its sale was exempt under section 10 (37) (i) of the l.T. Act in as much as the land was not situated in an area referred to in item (a) of sub clause (iii) of clause (14) of section 2 of the Act. 3. The learned C.I.T. (A) erred in not accepting the appellant's submission that

ANTHIAH PANCRAS,TIRUVANNAMALAI vs. ITO WARD 1, THIRUVANNAMALAI

In the result, the appeal filed by the assessee for ay: 2008-09 shall

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

gain on its sale was exempt under section 10 (37) (i) of the l.T. Act in as much as the land was not situated in an area referred to in item (a) of sub clause (iii) of clause (14) of section 2 of the Act. 3. The learned C.I.T. (A) erred in not accepting the appellant's submission that

ITO, COIMBATORE vs. SHRI R.VENKATACHALAM, COIMBATORE

In the result, all the appeals filed by the Revenue and the

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamony

131/- and the assessable capital gains would be `6,89,421/-. Accordingly, the CIT(Appeals) estimated the capital gain chargeable to tax at `6,89,421/-. The Ld. D.R. further submitted that the CIT(Appeals) 9 I.T.A. No.3171/Mds/92 I.T.A. No.1831/Mds/94 I.T.A. No.2024/Mds/94 ought to have adopted the original cost of asset for which the property was acquired under Section

R.VENKATACHALAM,CHENNAI vs. ITO, COIMBATORE

In the result, all the appeals filed by the Revenue and the

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamony

131/- and the assessable capital gains would be `6,89,421/-. Accordingly, the CIT(Appeals) estimated the capital gain chargeable to tax at `6,89,421/-. The Ld. D.R. further submitted that the CIT(Appeals) 9 I.T.A. No.3171/Mds/92 I.T.A. No.1831/Mds/94 I.T.A. No.2024/Mds/94 ought to have adopted the original cost of asset for which the property was acquired under Section

ITO, COIMBATORE vs. SHRI R.VENKATACHALAM, COIMBATORE

In the result, all the appeals filed by the Revenue and the

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamony

131/- and the assessable capital gains would be `6,89,421/-. Accordingly, the CIT(Appeals) estimated the capital gain chargeable to tax at `6,89,421/-. The Ld. D.R. further submitted that the CIT(Appeals) 9 I.T.A. No.3171/Mds/92 I.T.A. No.1831/Mds/94 I.T.A. No.2024/Mds/94 ought to have adopted the original cost of asset for which the property was acquired under Section