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

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act from its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance

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

gainful to refer to\nsection 271AAB(1) of the Act, which reads as under:\nPenalty where search has been initiated.\n271AAB. (1) The Assessing Officer or Commissioner (Appeals) may,\nnotwithstanding anything contained in any other provisions of this Act, direct\nthat, in a case where search has been initiated under section-132 on or after\nthe 1st day of July

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\nassessee are dismissed

Capital/ Reserves/Loan/\nCurrent Liabilities\nLiabilities (Credit)\nImmoveable Property/ Loans &\nAdvances/ Shares/ Bank Balance\n21. The above view of ours get bolstered from reading of Explanation 2\nappended to the fourth proviso, which defines 'asset', for the purpose of\nfourth proviso to Section 153A, to include i) immovable property, ii)\nshares and securities iii) loans and advances & iv) Deposit in bank

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\nassessee are dismissed

Capital/ Reserves/Loan/\nCurrent Liabilities\nLiabilities (Credit)\nImmoveable Property/ Loans &\nAdvances/ Shares/ Bank Balance\n21. The above view of ours get bolstered from reading of Explanation 2\nappended to the fourth proviso, which defines 'asset', for the purpose of\nfourth proviso to Section 153A, to include i) immovable property, ii)\nshares and securities iii) loans and advances & iv) Deposit in bank

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI,

153B and 153C are intended to\nbe a complete code for post- search assessments. Considering that the\nnon-obstante clause under Section 153A excludes the application of, inter\nalia, Section 139, it is clear that the revised return filed under Section\n153A takes the place of the original return under Section 139, for the\npurposes of all other provisions

GANESAN KANNAN,THOOTHUKUDI vs. ITI, INTERNATIONAL TAXATION WARD, THOOTHUKUDI

In the result, appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपीलसं./Ita No.: 698/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19

Capital Gain on sale of 1,34,63,935 1,43,14,139 property I & II Total Assessed Income 1,43,66,879 :-6-: ITA. No:698/Chny/2024 Aggrieved by the final assessment order, the assessee is in appeal before us. 5. The learned AR for the assessee submitted that legal grounds are purely issues concerning the limitation prescribed u/s.153

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI

In the result, all the six appeals of the Revenue are\ndismissed

153B and 153C are intended to\nbe a complete code for post- search assessments. Considering that the\nnon-obstante clause under Section 153A excludes the application of, inter\nalia, Section 139, it is clear that the revised return filed under Section\n153A takes the place of the original return under Section 139, for the\npurposes of all other provisions

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, CHENNAI

In the result, all the six appeals of the Revenue are\ndismissed

153B and 153C are intended to\nbe a complete code for post- search assessments. Considering that the\nnon-obstante clause under Section 153A excludes the application of, inter\nalia, Section 139, it is clear that the revised return filed under Section\n153A takes the place of the original return under Section 139, for the\npurposes of all other provisions

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, THIRUVANNAMALAI

In the result, all the six appeals of the Revenue are\ndismissed

153B and 153C are intended to\nbe a complete code for post- search assessments. Considering that the\nnon-obstante clause under Section 153A excludes the application of, inter\nalia, Section 139, it is clear that the revised return filed under Section\n153A takes the place of the original return under Section 139, for the\npurposes of all other provisions

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI

153B and 153C are intended to\nbe a complete code for post- search assessments. Considering that the\nnon-obstante clause under Section 153A excludes the application of, inter\nalia, Section 139, it is clear that the revised return filed under Section\n153A takes the place of the original return under Section 139, for the\npurposes of all other provisions

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, THIRUVANNAMALAI

153B and 153C are intended to\nbe a complete code for post- search assessments. Considering that the\nnon-obstante clause under Section 153A excludes the application of, inter\nalia, Section 139, it is clear that the revised return filed under Section\n153A takes the place of the original return under Section 139, for the\npurposes of all other provisions

ST.JOSEPH'S INSTITUTE OF SCIENCE AND TECHNOLOGY TRUST,CHENNAI vs. PCIT CENTRAL CHENNAI - 1, CHENNAI

In the result, all the three appeals filed by the assessee are allowed

b) the order is passed allowing any relief without inquiring into the\nclaim;\n(c) the order has not been made in accordance with any order,\ndirection or instruction issued by the Board under Section 119; or\n(d) the order has not been passed in accordance with any decision\nwhich is prejudicial to the assessee, rendered by the jurisdictional

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

1) of the Act. The Ld. AR further emphasized that, the statement(s) referred to by the AO was not recorded u/s 132(4) but u/s 131 of the Act and that a statement made u/s 131 of the Act cannot be equated with a statement recorded under section 132(4) of the Act. He submitted that, a statement recorded

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1), CHENNAI

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

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

1) of the Act. The Ld. AR further emphasized that, the statement(s) referred to by the AO was not recorded u/s 132(4) but u/s 131 of the Act and that a statement made u/s 131 of the Act cannot be equated with a statement recorded under section 132(4) of the Act. He submitted that, a statement recorded

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

1) of the Act. The Ld. AR further emphasized that, the statement(s) referred to by the AO was not recorded u/s 132(4) but u/s 131 of the Act and that a statement made u/s 131 of the Act cannot be equated with a statement recorded under section 132(4) of the Act. He submitted that, a statement recorded

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1), CHENNAI

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

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

1) of the Act. The Ld. AR further emphasized that, the statement(s) referred to by the AO was not recorded u/s 132(4) but u/s 131 of the Act and that a statement made u/s 131 of the Act cannot be equated with a statement recorded under section 132(4) of the Act. He submitted that, a statement recorded

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section;\n(ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year.”\n\n2.2. It is submitted that when there

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

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

1) of the Act. The Ld. AR further emphasized that,\nthe statement(s) referred to by the AO was not recorded u/s 132(4) but\nu/s 131 of the Act and that a statement made u/s 131 of the Act cannot\nbe equated with a statement recorded under section 132(4) of the Act. He\nsubmitted that, a statement recorded