SOUTHERN AGRIFURANE INDUSTRIES PVT.. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2), CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

gainfully refer to the decision of the Hon'ble Delhi High Court in Filatex India Ltd. v. Dy. CIT [WP(C) No. 12148 of 2023] which we find is squarely applicable in the given facts of the assessee before us. In this case, the search action under Section 132 of the Act was conducted on 01.09.2021 and therefore the assessment

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit Assessee By : Mr. N. Arjun Raj, Advocate सुनवाईकीतारीख/Date Of Hearing : 08.10.2025 घोषणाकीतारीख / Date Of Pronouncement : 21.11.2025

gainfully refer to the decision of the Hon'ble Delhi High Court in Filatex India Ltd. v. Dy. CIT [WP(C) No. 12148 of 2023] which we find is squarely applicable in the given facts of the assessee before us. In this case, the search action under Section 132 of the Act was conducted on 01.09.2021 and therefore the assessment

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] V. The Dcit, Central Circle-2(2), Chennai. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

gainfully refer to the decision of the Hon'ble Delhi High Court in Filatex India Ltd. v. Dy. CIT [WP(C) No. 12148 of 2023] which we find is squarely applicable in the given facts of the assessee before us. In this case, the search action under Section 132 of the Act was conducted on 01.09.2021 and therefore the assessment

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 | The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit Assessee By : Mr. N. Arjun Raj, Advocate सुनवाईकीतारीख/Date Of Hearing : 08.10.2025 घोषणाकीतारीख / Date Of Pronouncement : 21.11.2025

gainfully refer to the decision of the Hon'ble Delhi High Court in Filatex India Ltd. v. Dy. CIT [WP(C) No. 12148 of 2023] which we find is squarely applicable in the given facts of the assessee before us. In this case, the search action under Section 132 of the Act was conducted on 01.09.2021 and therefore the assessment

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

gainfully refer to the decision of the Hon'ble Delhi High Court in Filatex India Ltd. v. Dy. CIT [WP(C) No. 12148 of 2023] which we find is squarely applicable in the given facts of the assessee before us. In this case, the search action under Section 132 of the Act was conducted on 01.09.2021 and therefore the assessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2 (2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

gainfully refer to the decision of the Hon'ble Delhi High Court in Filatex India Ltd. v. Dy. CIT [WP(C) No. 12148 of 2023] which we find is squarely applicable in the given facts of the assessee before us. In this case, the search action under Section 132 of the Act was conducted on 01.09.2021 and therefore the assessment

V RAMAKRISHNAN,CHENNAI vs. DCIT CENTRAL CIRCLE III(4), CHENNAI

In the result, the appeal for the A

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

4. The brief facts of the case insofar the cross appeals for the block period under consideration in IT(SS)A No.153 & 162/Mds/2003 are as follows: The assessee is a Managing Director of M/s.Pentafour Products Limited, receiving income under the head “Salary”, dividend income as well as the sitting fees during the block period. The Income Tax Department had conducted

V RAMAKRISHNAN,CHENNAI vs. DCIT CENTRAL CIRCLE III(4) , CHENNAI

In the result, the appeal for the A

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

4. The brief facts of the case insofar the cross appeals for the block period under consideration in IT(SS)A No.153 & 162/Mds/2003 are as follows: The assessee is a Managing Director of M/s.Pentafour Products Limited, receiving income under the head “Salary”, dividend income as well as the sitting fees during the block period. The Income Tax Department had conducted

RAM KRISHAN KULWANT RAI,CHENNAI vs. ACIT CENTRAL CIRCLE 2(3), CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.1047/Chny/2018 "नधा"रण वष" / Assessment Year : 2009-10

132 of the Income-tax Act, 1961 (in short 'the Act') in RKKR SBQ group of companies on 26.09.2012. During the course of search operation, according to the Ld. counsel, the documents relating to registration of assessee-company was said to be found. Accordingly, a notice under Section 153C of the Act was issued by the Assessing Officer

ST. JOSEPHS INSTITUTE OF SCIENCE AND TECHNOLOGY TRUST,CHENNAI vs. DCOT. CENTRAL CIRCLE-1(3), CHENNAI

In the result, all the appeals filed by the assessees are allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

capitation fees, failed to disclose them, and did not meet the conditions for a reduced penalty under Section 271AAB(1A)(a). • The 60% penalty under Section 271AAB(IA)(b) is appropriate. Invalidating the notice on a technicality would defeat the legislative intent to deter tax evasion in search cases. e. Holistic Interpretation of the Notice • The notice should be interpreted

ST.JOSEPHS EDUCATIONAL TRUST,CHENNAI vs. DCIT, CENTRAL CIRCLE-193), CHENNAI

In the result, all the appeals filed by the assessees are allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

capitation fees, failed to disclose them, and did not meet the conditions for a reduced penalty under Section 271AAB(1A)(a). • The 60% penalty under Section 271AAB(IA)(b) is appropriate. Invalidating the notice on a technicality would defeat the legislative intent to deter tax evasion in search cases. e. Holistic Interpretation of the Notice • The notice should be interpreted

SHRI V. NATARAJAN (INDIVIDUAL),RASIPURAM vs. ACIT, CENTRAL CIRCLE,, SALEM

In the result, both the appeals of assessee in ITA No

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकर अपील सं./Ita Nos.1535 & 1801/Chny/2024 ननिाारण वर्ा/Assessment Years: 2016-17 & 2015-16 V. Varadappan Natarajan/ The Acit, V. Natarajan (Individual), Central Circle, No.64-C, Rotary Nagar, Salem. Rasipuram Tamil Nadu-637 408. [Pan: Acgpn1477Q] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By : Mr.T.S. Lakshmi Venkataraman, Fca (Virtual) प्रत्यर्थी की ओर से /Respondent By : Mr.Shiva Srinivas, Cit सुनवाईकीतारीख/Date Of Hearing : 09.10.2025 घोर्णाकीतारीख /Date Of Pronouncement : 31.10.2025

4), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original asset), and the assessee has, within a period of one year before or 67[two years.] after

VARADAPPAN NATARAJAN,RASIPURAM vs. ACIT, CENTRAL CIRCLE,, SALEM

In the result, both the appeals of assessee in ITA No

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकर अपील सं./Ita Nos.1535 & 1801/Chny/2024 ननिाारण वर्ा/Assessment Years: 2016-17 & 2015-16 V. Varadappan Natarajan/ The Acit, V. Natarajan (Individual), Central Circle, No.64-C, Rotary Nagar, Salem. Rasipuram Tamil Nadu-637 408. [Pan: Acgpn1477Q] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By : Mr.T.S. Lakshmi Venkataraman, Fca (Virtual) प्रत्यर्थी की ओर से /Respondent By : Mr.Shiva Srinivas, Cit सुनवाईकीतारीख/Date Of Hearing : 09.10.2025 घोर्णाकीतारीख /Date Of Pronouncement : 31.10.2025

4), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original asset), and the assessee has, within a period of one year before or 67[two years.] after

MANGAL & MANGAL,TRICHY vs. ACIT, TRICHY

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.: 2207/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14

capital gain, professional or business income out of money lending, source of the money etc). Unless such facts are mentioned with some specificity, it cannot be said that the assessee has fulfilled the requirement that she, in her statement (under Section 132 (4))-substantiates the manner in which the undisclosed income was derived. Such being the case, this court

ACIT, CENTRAL CIRCLE-3(4), CHENNAI vs. M SUKUMAR REDDY, CHENNAI

Bench: Hon’Ble Shri V. Durga Rao, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.69/Chny/2019 (िनधा"रण वष" / Assessment Year: 2006-07) & 2. आयकरअपील सं./ Ita No.70/Chny/2019 (िनधा"रण वष" / Assessment Year: 2007-08) & 3. आयकरअपील सं./ Ita No.71/Chny/2019 (िनधा"रण वष" / Assessment Year: 2008-09) Acit Shri M. Sukumar Reddy बनाम 3Rd, 6A, Rajparis, Aishwarya, Central Circle-3(4) Chennai. Raj Apartment, Ranjeeth Road, / Vs. Kotturpuram, Chennai-600 085. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adzpm-1863-H (अपीलाथ"/Appellant) : (!"थ" / Respondent) & 4. Cross Objection No.24/Chny/2019 (In Ita No.69/Chny/2019) (िनधा"रण वष" / Assessment Year: 2006-07) & 5. Cross Objection No.25/Chny/2019 (In Ita No.70/Chny/2019) (िनधा"रण वष" / Assessment Year: 2007-08) & 6. Cross Objection No.26/Chny/2019 (In Ita No.71/Chny/2019) (िनधा"रण वष" / Assessment Year: 2008-09)

capital gains. Therefore, this claim could not be held to be non-genuine. 3.6 On the addition of Rs.100 Lacs in AY 2007-08, the assessee submitted that he had earlier paid Rs.100 Lacs to one Sh. R. Ramdas, as advance for procuring land at Kundrattur village on 08.08.2006. This was in addition to opening advance of Rs.343 Lacs. Since

ACIT, CENTRAL CIRCLE-3(4), CHENNAI vs. M SUKUMAR REDDY, CHENNAI

Bench: Hon’Ble Shri V. Durga Rao, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.69/Chny/2019 (िनधा"रण वष" / Assessment Year: 2006-07) & 2. आयकरअपील सं./ Ita No.70/Chny/2019 (िनधा"रण वष" / Assessment Year: 2007-08) & 3. आयकरअपील सं./ Ita No.71/Chny/2019 (िनधा"रण वष" / Assessment Year: 2008-09) Acit Shri M. Sukumar Reddy बनाम 3Rd, 6A, Rajparis, Aishwarya, Central Circle-3(4) Chennai. Raj Apartment, Ranjeeth Road, / Vs. Kotturpuram, Chennai-600 085. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adzpm-1863-H (अपीलाथ"/Appellant) : (!"थ" / Respondent) & 4. Cross Objection No.24/Chny/2019 (In Ita No.69/Chny/2019) (िनधा"रण वष" / Assessment Year: 2006-07) & 5. Cross Objection No.25/Chny/2019 (In Ita No.70/Chny/2019) (िनधा"रण वष" / Assessment Year: 2007-08) & 6. Cross Objection No.26/Chny/2019 (In Ita No.71/Chny/2019) (िनधा"रण वष" / Assessment Year: 2008-09)

capital gains. Therefore, this claim could not be held to be non-genuine. 3.6 On the addition of Rs.100 Lacs in AY 2007-08, the assessee submitted that he had earlier paid Rs.100 Lacs to one Sh. R. Ramdas, as advance for procuring land at Kundrattur village on 08.08.2006. This was in addition to opening advance of Rs.343 Lacs. Since

ACIT, CENTRAL CIRCLE-3(4), CHENNAI vs. M SUKUMAR REDDY, CHENNAI

Bench: Hon’Ble Shri V. Durga Rao, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.69/Chny/2019 (िनधा"रण वष" / Assessment Year: 2006-07) & 2. आयकरअपील सं./ Ita No.70/Chny/2019 (िनधा"रण वष" / Assessment Year: 2007-08) & 3. आयकरअपील सं./ Ita No.71/Chny/2019 (िनधा"रण वष" / Assessment Year: 2008-09) Acit Shri M. Sukumar Reddy बनाम 3Rd, 6A, Rajparis, Aishwarya, Central Circle-3(4) Chennai. Raj Apartment, Ranjeeth Road, / Vs. Kotturpuram, Chennai-600 085. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adzpm-1863-H (अपीलाथ"/Appellant) : (!"थ" / Respondent) & 4. Cross Objection No.24/Chny/2019 (In Ita No.69/Chny/2019) (िनधा"रण वष" / Assessment Year: 2006-07) & 5. Cross Objection No.25/Chny/2019 (In Ita No.70/Chny/2019) (िनधा"रण वष" / Assessment Year: 2007-08) & 6. Cross Objection No.26/Chny/2019 (In Ita No.71/Chny/2019) (िनधा"रण वष" / Assessment Year: 2008-09)

capital gains. Therefore, this claim could not be held to be non-genuine. 3.6 On the addition of Rs.100 Lacs in AY 2007-08, the assessee submitted that he had earlier paid Rs.100 Lacs to one Sh. R. Ramdas, as advance for procuring land at Kundrattur village on 08.08.2006. This was in addition to opening advance of Rs.343 Lacs. Since

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

section 2(22)(e) of the Act. The assessee had also challenged additions made towards long term capital gain derived from sale of shares on the ground that although the AO has alleged that the assessee is beneficiary of bogus long term capital gain derived from sale of penny stocks, but failed to link the transactions of the assessee with