ACIT CORPORATE CIRCLE 4(1), CHENNAI vs. MANGAL TIRTH ESTATE LTD., CHENNAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.: 1965/Chny/2018 िनधा"रण वष" / Assessment Year: 2014-15 Assistant Commissioner Of M/S. Mangal Tirth Estate Ltd., Income-Tax, V. No. 769, Spencer Plaza, Corporate Circle-4(1), Anna Salai, Chennai – 600 002. Chennai. [Pan: Aaacm-4614-R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. P. Sajit Kumar, Jcit ""यथ" क" ओर से/Respondent By : Shri. N.V. Balaji, Advocate सुनवाई क" तारीख/Date Of Hearing : 29.11.2022 घोषणा क" तारीख/Date Of Pronouncement : 31.01.2023

section 50C of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) and adopted deemed consideration for computation of long term capital gains. The relevant findings of the AO are as under: From the above noting the following points emerged : 1. As on 31.03.1999, Out of 1,50,000 sq.ft. the assessee company had handed over

NARENDRA MAHENDRA KOTHARI,CHENNAI vs. ITO NON CORPORATE WARD 5(2), CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.1006/Chny/2019 िनधा"रण वष"/Assessment Year: 2014-15 V. Shri Narendra Mahendra- The Income Tax Officer, Kothari, Non-Corporate Ward-5(2), No.76, Osian Heights, Chennai. Basin Bridge Road, Mint, Chennai-600 079. [Pan: Amopk 2535 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant By Shri D. Anand, Advocate : ""यथ" क" ओर से /Respondent By Shri Arv Sreenivasan, Addl.Cit : सुनवाईक"तारीख/Date Of Hearing 05.02.2024 घोषणाक"तारीख /Date Of : 14.02.2024 Pronouncement

Capital Gain’, the question of allowing deduction u/s.54F of the Act, does not arise, and thus, in our considered view, there is no error in the reasons given by the AO and the Ld.CIT(A) to reject deduction claimed u/s.54/54F of the Act. Thus, we are inclined to uphold the findings of the Ld.CIT(A) and reject the ground taken

ASHOK LEYLAND LIMITED,,CHENNAI vs. ACIT,, CHENNAI

237 read with section 199 implies that only the recipient\nof the sum, i.e., the payee could seek a refund. It must therefore follow,\nif the Department is right, that the law requires tax to be deducted on\nall payments. The payer, therefore, has to deduct and pay tax, even if\nthe so-called deduction comes

LIFECELL INTERNATIONAL PVT LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, appeal filed by the assessee is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.: 3334/Chny/2019 िनधा"रण वष" / Assessment Year: 2016-17 M/S. Lifecell International Assistant Commissioner Of Private Ltd., V. Income Tax, No. 26, Vandalur Corporate Circle 4(1), Kelambakkam Main Road, Chennai. Keelakkottaiyur, Chennai. [Pan: Aaeca-7997-B] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ajith Kumar Choradia, Ca ""यथ" क" ओर से/Respondent By : Shri. S. Senthil Kumaran, Cit सुनवाई की तारीख/Date Of Hearing : 23.11.2022 घोषणा की तारीख/Date Of Pronouncement : 04.01.2023 आदेश /O R D E R

capital expenditure disallowed under section 35(2AB) under the provisions of Section 35(l)(iv) read with Section 35(2)(ia) of the Act. In connection with computation of tax: 23. The CIT(A) failed to note that the Appellant was entitled to credit of tax paid u/s 115JAA of the Act which was not provided

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

237 (Delhi - Trib.) the Hon'ble\nDelhi Tribunal had held that Where fact of earning interest\nincome and miscellaneous income had been duly disclosed by\nassessee in its accounts and in original return with full details, it\ncould not be alleged that assessee was guilty of under-reporting\nand/or misreporting of income penalty under section 270A was\nnot exigible

THE INDIA CEMENTS LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 2(1) CHENNAI, CHENNAI

237 to 239/Mds/2015, where\nthe Tribunal had confirmed addition made by the AO towards payment\nmade to M/s. Rishividya Consultants Pvt. Ltd. The relevant findings of the\nTribunal are as under:-\n\"65. Now, coming to the payment made to M/s Rishi Vidhya\nConsultants Pvt. Ltd to the extent of Rs.2,50,00,000/-, this\nTribunal has allowed the claim

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

237 (Delhi - Trib.) the Hon'ble\nDelhi Tribunal had held that Where fact of earning interest\nincome and miscellaneous income had been duly disclosed by\nassessee in its accounts and in original return with full details, it\ncould not be alleged that assessee was guilty of under-reporting\nand/or misreporting of income penalty under section 270A was\nnot exigible

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

237 (Delhi - Trib.) the Hon'ble\nDelhi Tribunal had held that Where fact of earning interest\nincome and miscellaneous income had been duly disclosed by\nassessee in its accounts and in original return with full details, it\ncould not be alleged that assessee was guilty of under-reporting\nand/or misreporting of income penalty under section 270A was\nnot exigible

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

237 (Delhi - Trib.) the Hon'ble\nDelhi Tribunal had held that Where fact of earning interest\nincome and miscellaneous income had been duly disclosed by\nassessee in its accounts and in original return with full details, it\ncould not be alleged that assessee was guilty of under-reporting\nand/or misreporting of income penalty under section 270A was\nnot exigible

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

237 (Delhi - Trib.) the Hon'ble\nDelhi Tribunal had held that Where fact of earning interest\nincome and miscellaneous income had been duly disclosed by\nassessee in its accounts and in original return with full details, it\ncould not be alleged that assessee was guilty of under-reporting\nand/or misreporting of income penalty under section 270A was\nnot exigible

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

237 (Delhi - Trib.) the Hon'ble\nDelhi Tribunal had held that Where fact of earning interest\nincome and miscellaneous income had been duly disclosed by\nassessee in its accounts and in original return with full details, it\ncould not be alleged that assessee was guilty of under-reporting\nand/or misreporting of income penalty under section 270A was\nnot exigible

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

237/- as returned by the assessee and determined the tax at Rs.3,79,31,260/-, wherein the assessment order, the AO endorsed his satisfaction to initiate separately penalty u/s.270A of the Act. 6. The AO thereafter is noted to have issued Show Cause Notice (SCN) dated 29.09.2021 u/s.274 r.w.s. 270 of the Act calling upon the assessee-Education-Trust

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

237/- as returned by the assessee and determined the tax at Rs.3,79,31,260/-, wherein the assessment order, the AO endorsed his satisfaction to initiate separately penalty u/s.270A of the Act. 6. The AO thereafter is noted to have issued Show Cause Notice (SCN) dated 29.09.2021 u/s.274 r.w.s. 270 of the Act calling upon the assessee-Education-Trust

NEURO UPDATE CHENNAI,CHENNAI vs. ITO, EXEMPTION WARD-1, CHENNAI

In the result, the appeal of the assessee is allowed

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

gains, or other sources, the word "income" should be understood in its commercial sense. Le, book income, after adding back any appropriations or applications thereof towards the purposes of the trust or otherwise, and also after adding back any debits made for capital expenditure incurred for the purposes of the trust or otherwise”. 10. Accordingly, the excess of income over

ST. JOSHEPHS INSTITUTE OF SCIENCE AND TECHNOLOGY TRUST,CHENNAI vs. DCIT, CENTRAL CIRCLE-193), CHENNAI

237/- as returned by the assessee and determined the tax at\nRs.3,79,31,260/-, wherein the assessment order, the AO endorsed his\nsatisfaction to initiate separately penalty u/s.270A of the Act.\n6. The AO thereafter is noted to have issued Show Cause Notice (SCN)\ndated 29.09.2021 u/s.274 r.w.s.270 of the Act calling upon the\nassessee-Education-Trust

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

237/- as returned by the assessee and determined the tax at\nRs.3,79,31,260/-, wherein the assessment order, the AO endorsed his\nsatisfaction to initiate separately penalty u/s.270A of the Act.\n6. The AO thereafter is noted to have issued Show Cause Notice (SCN)\ndated 29.09.2021 u/s.274 r.w.s.270 of the Act calling upon the\nassessee-Education-Trust

WHEELS INDIA LTD.,CHENNAI vs. ACIT LTU-1, CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Ms. Padmavathy. S & Shri Manu Kumar Giriआयकर अपील सं./Ita No.696/Chny/2025 िनधा"रण वष"/Assessment Year: 2012-13 V. M/S. Wheels India Ltd., The Acit, No.21, Annasalai Patullos Road, Large Taxpayer Unit-1, Chennai-600 002. Chennai. [Pan: Aaacw 0315 K] (अपीलाथ"/Appellant) (""यथ"/Respondent)

gain on 05-12-13 with income of Rs. 27,16,01,390. The case was selected for scrutiny and M/s. Wheels India Ltd. :: 3 :: assessment u/s 143(3) was made on 30-01-2015 determining taxable income at Rs. 75,07,87,929/-. 1.) It is seen that assessee had debited

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

In the result, appeal filed by the Revenue is dismissed and the\nCross-Objection filed by the assessee is allowed

237\nTaxman 375/[2015] 379 ITR 521 to contend that there was no satisfaction\nrecorded in the reassessment order for initiating the penalty proceedings\nunder section 271E of the Act of 1961. The objections filed were rejected\nand a notice dated 03.01.2025 was issued. Hence, the present writ\npetition.\n4. Learned counsel for the petitioners submitted that the issue involved