PLR TEXTILES LTD.,CHENNAI vs. THE ACIT ,CORPORATE CIRCLE-5(2), CHENNAI

In the result the appeal of the assessee is partly allowed

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकरअपीलसं./Ita No.: 133/Chny/2021 िनधा"रणवष" / Assessment Year: 2005-06 Plr Textiles Ltd., The Acit, 8K, Century Plaza, V. Corporate Circle -5(2), 560-562, Mount Road, Chennai – 641 034. Chennai – 600 018. [Pan: Aaacp-6536-D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ"कीओरसे/Appellant By : Mr. R. Vijayaraghavan, Advocate ""थ"कीओरसे/Respondent By : Ms. Anitha, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 06.02.2025 घोषणा की तारीख/Date Of Pronouncement : 27.03.2025 आदेश /O R D E R Per S. R. Raghunatha: This Appeal By The Assessee Is Filed Against The Order Of The Commissioner Of Income Tax (Appeals)-3, Chennai, Vide Ita No.153/Cit(A)-3/2018-19For The Assessment Year 2005-06, Dated 13.03.2020. 2. At The Outset, We Find That There Is A Delay Of 346 Days In Appeal Filed By The Assessee, For Which Petition For Condonation Of Delay Along With Reasons For Delay Has Been Filed. After Considering The Petition Filed By The Assessee, Reason For Delay In Filing The Appeal Was Due To Covid-19 Pandemic & Also Hearing Both The :-2-:

section 234A, 234B and 234C are charged as per law. Demand notice u/s 156 is enclosed. 7. Aggrieved by the order of the AO, the assessee preferred an appeal before the ld. CIT(A) – 3, Chennai. Before the ld.CIT(A), the assessee filed a detailed written submission in respect of delay in passing the order giving effect

SMART INFORMATION WORLDWIDE INC,CHENNAI vs. DCIT INTERNATIONAL TAXATION 2(2), CHENNAI

The appeal stand allowed in terms of our above order

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.329/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2014-15) M/S. Smart Information Worldwide Inc. Dcit बनाम/ 49 Sixth Main Road, International Taxation -2(2) Vs. Raja Annamalaipuram, Chennai-600 028. Chennai-6. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-8497-G (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Appellant By : Shri V. Ravichandran (Ca)- 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 : 06-08-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

capital gains were to be computed based on the fair market value, such fair market value has to be determined in accordance with Rule 11UA. 6. The learned Assessing Officer has erred in applying section 50D in case where the sale consideration is determinable. 7. The learned Assessing Officer erred in levying interest under sections 234A and 234B

INCOME TAX OFFICER, CHENNAI vs. ROHITKUMAR NEMCHAND PIPARIA, CHENNAI

The appeal stand allowed in terms of our above order

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1344/Chny/2023 (िनधा*रण वष* / Assessment Year: 2008-09) Ito Shri Rohitkumar Nemchand Piparia बनाम International Taxation Ward-2(1) #34 (Old #77), Meddox Street, / Vs. Chennai. Choolai, Chennai-600 112. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Akzpp-0661-M (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Assessee By : Shri T. Banusekar & Ms. Samyuktha Banusekar (Advocates) - Ld. Ars " थ"कीओरसे/Revenue By : Shri Nilay Baran Som (Cit) - Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 07-10-2024 घोषणाकीतारीख /Date Of Pronouncement : 31-12-2024 आदेश / O R D E R

Capital Gain on Shares Sales Rs.229,96,19,403/- Less: Purchases Rs.189,63,15,388/- Rs.40,33,04,015/- Income from other sources Rs. 3,80,226/- Rs.40,36,84,241/- Less: Deduction u/s 80C Rs. 70,000/- Assessed Total Income Rs.40,36,14,241/- The above computation is not in dispute. The subject matter of appeal is computation

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

capital gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 45: ITA Nos.1535 & 1801/Chny/2024 (AYs 2016-17 & 2015-16) Varadappan Natarajan/ V. Natarajan (Individual) :: 28 :: 69[Provided that nothing contained in this sub-section shall apply where- (a) the assessee (i) owns 70 more than one residential

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

capital gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 45: ITA Nos.1535 & 1801/Chny/2024 (AYs 2016-17 & 2015-16) Varadappan Natarajan/ V. Natarajan (Individual) :: 28 :: 69[Provided that nothing contained in this sub-section shall apply where- (a) the assessee (i) owns 70 more than one residential

RAMANATHAN ADAIKALAVAN,COIMBATORE, TAMIL NADU vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSESSMENT CENTRE, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./ Ita No.557/Chny/2024 निर्ाारण वर्ा /Assessment Years: 2014-15 Ramanathan Adaikalavan, Deputy Commissioner Of Income Tax, No.80, Ansari Street, Ram Nagar, Non-Corporate Circle-2, Coimbatore-641009. Coimbatore [Pan: Aanpa6846P] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant) अपीलार्थी की ओर से/ Assessee By : Shri P.M.Kathir, Advocate. प्रत्यर्थी की ओर से /Revenue By : Ms.Gouthami Manivasagam, Jcit सुिवाई की तारीख/Date Of Hearing : 05.11.2024 घोर्णा की तारीख /Date Of Pronouncement : 06.12.2024 आदेश / O R D E R Per Amitabh Shukla, A.M :

capital gain as envisaged in section 50. 4. Enquiries made by the AO as sequel to information received: NA 5. Findings of the assessing officer :- 5 -: If the facts mentioned in paras 2 and 3 are considered, then there would be an additional demand of Rs. 1,77, 18,004 besides interest u/s 234A and 234B

RAMDOSS RAMVIJAY KUMAR,,CHENNAI vs. ITO, NCW - 14(5),, CHENNAI

In the result, appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.: 3096/Chny/2019 िनधा"रण वष" / Assessment Year: 2006-07

capital gain on relinquishment of the property since there was no proper title that was in possession of the appellant for the said property. 11. For that the Commissioner of Income Tax (Appeals) ought to have referred the matter to the Valuation Officer u/s.50C(2) 12. For that the appellant objects to the levy of interest under sections 234B

PRECOT LIMITED ,COIMBATORE vs. ACIT,CORPORATE CIRCLE 2, COIMBATORE

In the result, appeal of the assessee is dismissed

Bench: Shri Mahavir Singh, Vice- & Shri Arun Khodpiaआयकरअपीलसं./I.T.A.No.132/Chny/2022 (िनधा"रणवष" / Assessment Year: 2014-15) Vs The Assistant Commissioner Of M/S. Precot Limited Sf No.559/4, D Block, 4Th Floor, Income Tax, Hanudev Info Park, Nava India Road Corporate Circle-2, Udaiyampalayam, Coimbatore. Coimbatore-641 028. Pan : Aabcp 3038K (अपीलाथ"/Appellant) (""यथ"/Respondent)

section 2(14)(iii) of the Act, reason being assessee’s land is outside Hindupur Municipal limits at a distance of 4 kms measured aerially and as per provisional report of Census of India, population of Hindupur Municipality in 2011 is 151677. Hence, the Assessing Officer has rightly charged assessee’s land to capital gain

A. JAYAPALAN,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(2), CHENNAI

In the result, appeal filed by the assessee is allowed & Stay\nApplication filed by the assessee is dismissed as infructuous

234B.\nii) The purchase deed dated 17.08.2001 states the purchase cost of the\nproperty as below:\nLand value\nRs.\n1,16,23,986/-\nBuilding value\nRs.\n11,76.014/-\nRs.\n1,28,00,000/-\nStamp duty\nRs.\n16,53,000/-\nTotal Value\nRs.\n1,44,53,000/-\nIn the computation statement for long term capital gain, the assessee had\nadopted

M/S. CASTLEWICK FZE,DUBAI vs. ACIT,INTERNATIONAL TAXATION, CIRCLE-1(1), CHENNAI

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

234B of the Act.\n5.\nAggrieved by the draft assessment order, assessee filed\nobjections before the DRP reiterating the submissions made before\nthe AO. Further the assessee highlighted the fact that order passed\nu/s.201(1) of the Act in the case of payer namely M/s. Gannon\nDunkerly & Co. Ltd., which was the root cause for the reassessment\nproceedings against

K.PONNI,CHENNAI vs. ACIT, NON-CORPORATE CIRCLE-5, CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.1123/Chny/2022 िनधा"रण वष"/Assessment Year: 2012-13 K. Ponni, Vs. The Assistant Commissioner Of No. 20/51, Vasantha Avenue, Income Tax, Mrc Nagar, R A Puram, Non-Corporate Circle – 5, Chennai 600 028. Chennai. [Pan:Aeapp5038D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri H. Yeshwanth Kumar, Ca ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.08.2023 घोषणा की तारीख /Date Of Pronouncement : 23.08.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi, Dated 31.10.2022 Relevant To The Assessment Year 2012-13. 2. Brief Facts Of The Case Are That The Assessee Filed The Return Of Income For The Assessment Year 2012-13 On 20.12.2012 Declaring An Income Of ₹.60,00,700/-. As Per Information Received From Dit (Inv.) That 2

capital gain from sale of land. 7. For that the Assessing Officer failed to appreciate that no assessment can be framed without determining the head under which the purported income is assessable. 8. For that the appellant object to the levy of interest under section 234A, 234B

M V SUBRAMANIAN FAMILY TRUST,CHENNAI vs. ITO, NCW-1(1), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 1087/Chny/2025 िनधा"रण वष"/Assessment Year:2021-22 M/S. M V Subramanian Family The Income Tax Officer, Trust, Non-Corporate Ward 1(1), 10, Valliammai Achi Road, Vs. Chennai. Kotturpuram, Chennai – 600 085. Pan: Aaetm 9151C (""यथ"/Respondent) (अपीलाथ"/Appellant) अपीलाथ" क" ओर से/Appellant By : Shri Ashwin, Ca ""यथ" क" ओर से/Respondent By : Ms. Anitha, Addl.Cit सुनवाई क" तारीख/Date Of Hearing : 24.07.2025 घोषणा क" तारीख/Date Of Pronouncement : 25.08.2025

capital gains and dividend income. 2.3 The Ld. Respondent erred in considering the surcharge at the rate of 37% by completely disregarding the provisions of the Finance Act, 2021, which imposes a cap of 15% on surcharge where the total income includes dividend income or incomes chargeable under sections 111A or112A of the Act 2.4 The Ld. Respondent ought

GATEWAY OFFICE PARKS PRIOVATE LIMITEDI,CHENNAI vs. ACIT, CORPORATE CICLE-6(1), CHENNAI

In the result, the appeal of the assessee is partly allowed

gains\nby issuing company in the garb of capital receipts. In the instant case, not only\nthat the fair market value is supported by independent valuer report, the allotment\nhas been made to the existing shareholder holding 100% equity and therefore,\nthere is no change in the interest or control over the money by such issuance of\nshares. The object

ACIT NON CORPORATE CIRCLE 8(1)-LTU-2, , CHENNAI vs. M/S. ASHOK LEYLAND LIMITED, CHENNAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadish

Capital Ratio - Cost of Production Ratio - Exports Turnover Ratio Corporate General OH costs Cost of Production ratio including Consultancy, Rent, Admin etc Research, Design & Product Cost of Production ratio Development cost incurred in R&D center Selling and Distribution costs Domestic / Exports / Total including Advertisement, Turnover ratio Aftermarkets / Spares cost, Service cost, Travel cost, Commission, etc 5.17 Having gone through

M/S. ASHOK LEYLAND LIMITED,CHENNAI vs. ACIT NON CORPORATE CIRCLE 8(1)-LTU-2, , CHENNAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue stands dismissed

Bench: Shri Aby T. Varkey & Shri Jagadish

Capital Ratio - Cost of Production Ratio - Exports Turnover Ratio Corporate General OH costs Cost of Production ratio including Consultancy, Rent, Admin etc Research, Design & Product Cost of Production ratio Development cost incurred in R&D center Selling and Distribution costs Domestic / Exports / Total including Advertisement, Turnover ratio Aftermarkets / Spares cost, Service cost, Travel cost, Commission, etc 5.17 Having gone through

PAZHANIVEL THANGARASU,CUDDALORE vs. ITO, WARD-1,, CUDDALORE

Bench: Shri Aby T Varkey, Hon’Ble & Shri S.R.Raghunatha, Hon’Ble

section 69A are not invocable in the facts and circumstances of the case. 8. For that the Commissioner of Income Tax (Appeals) erred in not appreciating the explanation along with evidences furnished by the appellant regarding the source of cash deposit to the tune of Rs.40,00,250/-. 9. For that the Commissioner of Income Tax (Appeals) failed to consider

LOTUS FOOTWEAR ENTERPRISES LIMITED-INDIA BRANCH,TIRUVANNAMALAI vs. DCIT, INTERNATIONAL TAX 1(2), CHENNAI

In the result all the four appeals of the assessee are allowed

gains on such\nreasonable basis as he may deem fit.\nExplanation.— For the purposes of this sub-section, "market value", in\nrelation to any goods or services, means—\n(i) the price that such goods or services would ordinarily fetch in the\nopen market; or\n(ii) the arm's length price as defined in clause (ii) of section

LOTUS FOOTWEAR ENTERPRISES LIMITED-INDIA BRANCH,TIRUVANNAMALAI vs. DCIT, INTERNATIONAL TAX 1(2), CHENNAI

In the result all the four appeals of the assessee are allowed

gains on such\nreasonable basis as he may deem fit.\n\nExplanation.— For the purposes of this sub-section, "market value", in\nrelation to any goods or services, means—\n(i) the price that such goods or services would ordinarily fetch in the\nopen market; or\n(ii) the arm's length price as defined in clause (ii) of section