SUBRAMANYAM BASKARAN,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the assessee is allowed for 8

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

capital gains to ".85,42,006/- invested before one year as against the actual sum of "1,21,35,203/- claimed exemption u/s.54 of the Act on investment in new residential property. The ld. Authorised Representative supported the arguments with evidence and produced a copy of completion certificate, sale deed copy, proof of re-investment in new property

ITO, NCE 22(2), CHENNAI vs. T JAYAKUMAR, CHENNAI

In the result, the appeal of the Revenue stands dismissed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. No.243/Chny/2018 "नधा"रण वष" /Assessment Year : 2013-2014. Income Tax Officer, Vs. Shri. T. Jayakumar, Non Corporate Ward 22(2) No.6/91, Dr. Ramadoss Street, Tambaram, Medavakkam, Chennai 600 045. Chennai 600 100. [Pan Ajypj 5553E] (अपीलाथ"/Appellant) (""यथ"/Respondent)

capital gains arising from transfer of a property through three general power of attorneys, two of which were dated 07.05.2012 and one dated 07.06.2012. 2. Ld. Counsel for the Revenue submitted that assessee had sold a property belonging to him through execution of power of attorneys in favour of one M/s. Anu Builders India Private Limited

RAMAKRISHNAN PRABHU JYOTHI,,COIMBATORE vs. ACOT, NCC-5, , COIMBATORE

In the result the appeal is dismissed

245 ITR 127 (Del.), held that the assesse had\nentered into an agreement of sale and made payments towards\npurchase consideration within one year of sale of his old flat. Relief u/s\n54 was found admissible though registration of sale deed was made\nsubsequently. The Tribunal held that exemption under section 54 was\navailable as substantial amount of cost

KANCHAN SINGHVI,CHENNAI vs. ITO NON CORPORATE WARD 5(1), CHENNAI

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

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.2553/Chny/2017 "नधा"रण वष"/Assessment Year:2014-15 Smt. Kanchan Singhvi, The Income Tax Officer, No. 156, Mint Street, Sowcarpet, Vs. Non Corporate Ward 5(1), Chennai 600 079. Chennai. [Pan: Abhps2435F] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Ms. Nithya Sankaran, C.A. ""यथ" क" ओर से/Respondent By : Shri B. Sagadevan, Jcit सुनवाई क" तार"ख/ Date Of Hearing : 11.04.2018 घोषणा क" तार"ख /Date Of Pronouncement : 27.04.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 5, Chennai, Dated 20.09.2017 Relevant To The Assessment Year 2014-15.The Only Effective Ground Raised In The Appeal Of The Assessee Is That The Ld. Cit(A) Has Erred In Confirming The Addition Of Long Term Capital Gain Of ₹.18,69,390/-

245 ITR 84 (Guj.), the Mumbai Benches of the Tribunal, granted relief in respect of Capital Gains which were inadvertently included in the return. The Tribunal observed as follows: "Moreover, if the assessee is, otherwise, entitled to a claim of deduction but due to his ignorance or for some other reason could not claim the same in the return

MIHO KIKUCHI,THIRUVANNAMALAI vs. PCIT, CHENNAI

In the result, the appeal filed by the assessee is dismissed subject to above direction and modification in the order

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.: 1318/Chny/2024 िनधा"रण वष"/Assessment Year: 2015-16 Smt. Miho Kikuchi, The Principal Commissioner No.25, Chengam Road, Vs. Of Income Tax-8, Fourth Street, Chennai. Thiruvannamalai – 606 601. Pan: Bdepm 5316B (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Quadir Hoseyn, Advocate & Dr. L. Natarajan, Ca ""यथ" क" ओर से/Respondent By : Shri Nilay, Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 24.07.2024 घोषणा क" तारीख/Date Of Pronouncement : 26.07.2024 आदेश /O R D E R Per Mahavir Singh: This Appeal By The Assessee Is Arising Out Of The Revision Order Passed By The Principal Commissioner Of Income Tax, Chennai -8 In Order No.Itba/Rev/F/Rev5/2023-24/1063189420 (1) Dated 22.03.2024. The Assessment Was Framed By The Addl./Joint/Deputy/Asst. Commissioner Of Income Tax/Income Tax Officer, National Faceless Assessment Centre, Delhi For The Assessment Year 2015-16 U/S.147 R.W.S 144B Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) Vide Order Dated 27.03.2022. 2. The Only Issue In This Appeal Of Assessee Is Against The Revision Order Passed By Pcit U/S.263 Of The Act Revising The Assessment Framed By Ao Of National Faceless Assessment Centre Vide Order Dated 27.03.2022 U/S.147 R.W.S 144B Of The Act. For This Assessee Has Raised Various Grounds Which Are Factual, Argumentative & Exhaustive & Hence, Need Not Be Reproduced.

Gain in the light of provision of section 50C taking into consideration of Guideline Value as on the date of Registration of the property and pass the order in accordance with law after giving sufficient opportunities to the assessee.” Aggrieved, assessee came in appeal before the Tribunal. 5. The ld.counsel for the assessee before us made only submission that

SUBASH SUBRAMANIAN,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the assessee stands dismissed

Bench: Shri Abraham P. George]

245/-, long term capital gains was computed at "16,84,755/-. :- 4 -: 7. Aggrieved, assessee moved in appeal before ld. Commissioner of Income Tax (Appeals). Argument of the assessee was that sale consideration could not be taken at market value since there was a pending suit for declaration of title to the subject property. According to the assessee, Valuation Officer

DCIT, CHENNAI vs. S.RAJARATHINAM, CHENNAI

In the result, both the appeals of the Revenue and both the

Bench: Shri George Mathan & Shri A.Mohan Alankamony

245 ITR 494(Mad.), as also the decision of the Co-ordinate Bench of this Tribunal in the case of M/s.Saravana Stores (Tex) for assessment year 2003-04 in ITANo.2079/Mds./2008 had held that the partition is a bona fide one and capital gains was not leviable on the same. It was a submission that the order

DCIT, CHENNAI vs. S.RAJARATHINAM, CHENNAI

In the result, both the appeals of the Revenue and both the

Bench: Shri George Mathan & Shri A.Mohan Alankamony

245 ITR 494(Mad.), as also the decision of the Co-ordinate Bench of this Tribunal in the case of M/s.Saravana Stores (Tex) for assessment year 2003-04 in ITANo.2079/Mds./2008 had held that the partition is a bona fide one and capital gains was not leviable on the same. It was a submission that the order

SMT. CHITRA JAMBUNATHAN,,CHENNAI vs. DCIT, NCC - 8 (1),, CHENNAI

In the result, the appeal filed by the Assessee is dismissed

Bench: Shri Ramit Kochar & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A. No. 2607/Chny/2019 िनधा"रण वष"/Assessment Year: 2010-11 Vs. The Deputy Commissioner Of Smt. Chitra Jambunathan, No. 2, 1St Cross Street, Indira Nagar, Income Tax, Adyar, Chennai 600 020. Non Corporate Circle 8(1), [Pan: Agdpc2490H] Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" की ओर से/ Appellant By Shri V. Balaji, Ca ""थ" की ओर से /Respondent By : Shri Srinivasa Rao Vana, Jcit सुनवाई की तारीख/Date Of Hearing : 18.11.2019 घोषणा की तारीख /Date Of Pronouncement : 23.12.2019

section 148 of the Act. Accordingly, the assessee filed the return of income for the assessment 2010-11 admitting total income at ₹.47,66,025/-. From the material available on record and submissions made by the assessee during the scrutiny proceedings against statutory notices, the Assessing Officer found that the full value of consideration for the transfer of the property

ACIT CIRCLE 1, TIRUNELVELI vs. M/S RM K V SILKS PRIVATE LIMITED, TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply

DCIT CIRCLE 1 , TIRUNELVELI vs. RM KV FASHION GARMENTS PVT LTD, TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply

ACIT CIRCLE 1, TIRUNELVELI vs. M/S RM KV FBRICS PRIVATE LIMITED, TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply

M/S RM KV FBRICS PRIVATE LIMITED,TIRUNELVELI vs. ACIT CIRCLE 1, TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply

M/S RM K V SILKS PRIVATE LIMITED,TIRUNELVELI vs. ACIT CIRCLE 1, TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply

DCIT CIRCLE 1 , TIRUNELVELI vs. RMKV FASHION GARMENTS PVT. LTD. , TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply

DCIT CIRCLE 1 , TIRUNELVELI vs. RMKV FASHION GARMENTS PVT. LTD. , TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply

DCIT CIRCLE 1 , TIRUNELVELI vs. RMKV SILKS PVT. LTD. , TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply

DCIT CIRCLE 1 , TIRUNELVELI vs. RMKV SILKS PVT. LTD. , TIRUNELVELI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

section 32 wherein it was mentioned that ‘where the assessee incurred any capital expenditure for the purpose of business or profession on the construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of or improvement to, the building, then, the provisions of this clause shall apply