PARANDHAMAN BHAKTHAVATSALA NAIDU HUF,CHENNAI vs. ITO - NON CORP WARD 1(6) CHN, NEW BUILDING, AAYAKAR BHAWAN

In the result, appeal filed by the assessee is allowed

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

capital gains addition. Further, according to the Ld.CIT(A), the assessee didn’t submit any relevant documents during the course of assessment proceedings, and therefore, he confirmed the addition. Aggrieved, the assessee is before us. 5. We have heard both the parties and perused the material available on record. We note that the assessee owned 856 sq.ft. of land

DEPUTY COMMISSIONER OF INOCME TAX, CENTRAL CIRCLE - 1(3), CHENNAI vs. M. MAHADEVAN , CHENNAI

In the result, the appeals of the Revenue are decided as under:-

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1824/Chny/2024, Assessment Years: 2013-14 आयकर अपील सं./Ita No.1825/Chny/2024, Assessment Years: 2014-15 आयकर अपील सं./Ita No.1826/Chny/2024, Assessment Years: 2019-20

capital gain on sale of shares — As regards the issue of Tax residency of the assessee, during the course of assessment proceedings, upon verification of the documents, Information obtained from the FRRO, copies of Visa and Passport etc, Ld.AO noted that Shri. Mahadevan had stayed / resided in India as per below mentioned details:- Total No. of days Total

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. M. MAHADEVAN, CHENNAI

In the result, the appeals of the Revenue are decided as under:-

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1824/Chny/2024, Assessment Years: 2013-14 आयकर अपील सं./Ita No.1825/Chny/2024, Assessment Years: 2014-15 आयकर अपील सं./Ita No.1826/Chny/2024, Assessment Years: 2019-20

capital gain on sale of shares — As regards the issue of Tax residency of the assessee, during the course of assessment proceedings, upon verification of the documents, Information obtained from the FRRO, copies of Visa and Passport etc, Ld.AO noted that Shri. Mahadevan had stayed / resided in India as per below mentioned details:- Total No. of days Total

OLYMPIA TECH PARK PRIVATE LIMITED,CHENNAI vs. PCIT - 4 , CHENNAI

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

Bench: Shri V. Durga Rao & Dr. Manish Boradआयकर अपील सं./I.T.A. No.922/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Olympia Tech Park (Chennai) Vs. The Principal Commissioner Of Private Limited, No. 1, Sidco Income Tax, Chennai-4, Industrial Estate, Guindy, Chennai. Chennai 600 032. [Pan:Aabco8102F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate ""थ" की ओर से/Respondent By : Shri M. Rajan, Cit सुनवाई की तारीख/ Date Of Hearing : 20.04.2023 घोषणा की तारीख /Date Of Pronouncement : 27.04.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Principal Commissioner Of Income Tax, Chennai -4, Chennai, Dated 25.03.2022 Relevant To The Assessment Year 2017-18 Passed Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

253 of the Act. 12. It is submitted that if the delay in filing the appeal is not condoned and the appeal is dismissed at the threshold, it will be put to great hardship to the Appellant and no hardship will be caused to the Respondent and department, if the delay in filing appeal is condoned and the appeal

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(4), CHENNAI vs. SHRI. MOOLCHAND KIRAN KUMAR JAIN, CHENNAI

In the result, both the appeals of the revenue are dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 5 & 6/Chny/2024 िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22 The Dy. Commissioner Of Shri. Moolchandkiran Kumar Income Tax, V. Jain, Central Circle -1(4), No. 123, Usman Road, T.Nagar, Chennai-34. Chennai – 600 017. [Pan:Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ"क"ओरसे/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तारीख/Date Of Hearing : 13.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.07.2024 आदेश /O R D E R Per S. R. Raghunatha, Am: These Appeals Are Preferred By The Revenue Against The Common Order Of The Learned Commissioner Of Income Tax (Appeals)-18, (Hereinafter In Short "The Ld.Cit(A)”), Chennai, Dated 15.11.2022 Against The Assessment Order U/S.153A/143(3) Of The Income Tax Act, 1961 (Hereinafter In Short "The Act”) For :-2-: Ita. Nos: 5 & 6/Chny/2024

253,639,801 Sl.No Investment (FY 2020-21) AY 2021-22 Amount in Rs. 1 Max Life Insurance 1,400,000 2 SBI Life Insurance 11,090,963 3 Star Union 24,66,304 4 Shares Division 3,240,699 5 Global Capital 1,239,727 6 Magnum Trust 6,000,000 7 Raj TV 556,148,491 8 Shares

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI vs. SHRI. MOOLCHAND KIRAN KUMAR JAIN, CHENNAI

In the result, both the appeals of the revenue are dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 5 & 6/Chny/2024 िनधा"रणवष" / Assessment Years: 2020-21 & 2021-22 The Dy. Commissioner Of Shri. Moolchandkiran Kumar Income Tax, V. Jain, Central Circle -1(4), No. 123, Usman Road, T.Nagar, Chennai-34. Chennai – 600 017. [Pan:Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ"क"ओरसे/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तारीख/Date Of Hearing : 13.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.07.2024 आदेश /O R D E R Per S. R. Raghunatha, Am: These Appeals Are Preferred By The Revenue Against The Common Order Of The Learned Commissioner Of Income Tax (Appeals)-18, (Hereinafter In Short "The Ld.Cit(A)”), Chennai, Dated 15.11.2022 Against The Assessment Order U/S.153A/143(3) Of The Income Tax Act, 1961 (Hereinafter In Short "The Act”) For :-2-: Ita. Nos: 5 & 6/Chny/2024

253,639,801 Sl.No Investment (FY 2020-21) AY 2021-22 Amount in Rs. 1 Max Life Insurance 1,400,000 2 SBI Life Insurance 11,090,963 3 Star Union 24,66,304 4 Shares Division 3,240,699 5 Global Capital 1,239,727 6 Magnum Trust 6,000,000 7 Raj TV 556,148,491 8 Shares

M/S COUNCIL FOR LEATHER EXPORTS,CHENNAI vs. DCIT, CHENNAI CIRCLECHENNAI, CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 948/Chny/2023 िनधा"रणवष" / Assessment Year: 2016-17 The Deputy Commissioner Of M/S. Council For Leather V. Income Tax (Exemption), Exports, Chennai Circle, No.1, Sivaganga Road, Chennai-34. Nungambakkam, Chennai – 600 034. [Pan: Aaacc-4697-G] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Vijayaraghavan, Advocate ""यथ"क"ओरसे/Respondent By : Shri. Krishnan Ramaswamy, Jcit सुनवाई क" तारीख/Date Of Hearing : 30.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 07.08.2024 आदेश /O R D E R

gains, or other sources, the word "income" should be understood in its commercial sense. i.e.. 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". 9. Exemption uls.10

M/S. GEENA GARMENTS,TIRUPPUR vs. ACIT, CIRCLE-1,, TIRUPPUR

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

gains\nof business or profession” or “income from other sources”. In case of any conflict\nbetween the provisions of the Income Tax Act and the ICDS, the provisions of the\nAct shall prevail to the extent. We find this ICDS deals with the treatment of\nGovernment grants. The Government grants are sometimes called by other names\nsuch as subsidies, cash

M/S.ENRICA ENTERPRISES PVT LTD,CHENNAI vs. DCIT,CENTRAL CIRCLE-3(4), CHENNAI

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha. G & Shri Manomohan Das

gains were computed and the assessee requested for deduction under Section 54F of the Act, as the sale consideration received was utilized for purchase of a new flat, in which, the name of the assessee's wife was also included as a purchaser. The assessee further stated about the sale of livestock and standing crops. The assessee also stated that

M/S ENRICA ENTERPRISES PVT LTD,CHENNAI vs. DCIT,CENTRAL CIRCLE-3(4), CHENNAI

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha. G & Shri Manomohan Das

gains were computed and the assessee requested for deduction under Section 54F of the Act, as the sale consideration received was utilized for purchase of a new flat, in which, the name of the assessee's wife was also included as a purchaser. The assessee further stated about the sale of livestock and standing crops. The assessee also stated that

THE GATE OF HOPE CHARITABLE TRUST,,CHENNAI vs. ITO(E), WARD-2,, CHENNAI

The appeals of the assessee are allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

253 dated 31.10.2002. 4. From the objects of the Trust, it is noted that, it primarily exists From the objects of the Trust, it is noted that, it primarily exists From the objects of the Trust, it is noted that, it primarily exists for the purpose of serving under privileged children in the area of education, purpose of serving under

THE GATE OF HOPE CHARITABLE TRUST,CHENNAI vs. ITO (EXEMPTIONS) WARD-2,, CHENNAI

The appeals of the assessee are allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

253 dated 31.10.2002. 4. From the objects of the Trust, it is noted that, it primarily exists From the objects of the Trust, it is noted that, it primarily exists From the objects of the Trust, it is noted that, it primarily exists for the purpose of serving under privileged children in the area of education, purpose of serving under

DCIT, CC2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

5. Jayapriya Food products private limited 4,59,82,869 6. Jayapriya property developers private limited 2,43,54,370 7. Jayapriya Trading Company 8,26,56,356 8. Land Advance-APJ Abdulkalam Educational Trust 4,063,74,000 Total 1,61,89,97,220/- 10.4 It is observed that the assessee had derived interest income of Rs.9

DCIT, CEN CIR 2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

5. Jayapriya Food products private limited 4,59,82,869 6. Jayapriya property developers private limited 2,43,54,370 7. Jayapriya Trading Company 8,26,56,356 8. Land Advance-APJ Abdulkalam Educational Trust 4,063,74,000 Total 1,61,89,97,220/- 10.4 It is observed that the assessee had derived interest income of Rs.9

DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE-1, TIRUPPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING P LTD, TIRUPPUR,TAMILNADU

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

gains of business or profession” or “income from other sources”. In case of any conflict between the provisions of the Income Tax Act and the ICDS, the provisions of the Act shall prevail to the extent. We find this ICDS deals with the treatment of Government grants. The Government grants are sometimes called by other names such as subsidies, cash

GEENA GARMENTS,TIRUPPUR vs. ACIT, CIRCLE-1, TIRUPPUR, TIRUPPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

gains of business or profession” or “income from other sources”. In case of any conflict between the provisions of the Income Tax Act and the ICDS, the provisions of the Act shall prevail to the extent. We find this ICDS deals with the treatment of Government grants. The Government grants are sometimes called by other names such as subsidies, cash

ACIT, CIRCLE-1, , TIRUPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING (P) LTD., TIRUPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

gains of business or profession” or “income from other sources”. In case of any conflict between the provisions of the Income Tax Act and the ICDS, the provisions of the Act shall prevail to the extent. We find this ICDS deals with the treatment of Government grants. The Government grants are sometimes called by other names such as subsidies, cash

KM KNIT WEAR,TIRUPUR vs. ADIT,CPC, BANGALORE

In the result, ITA Nos. 3326/Chny/2019, 326/Chny/2024 &\n768/Chny/2022 are dismissed; ITA No

gains of business or profession” or “income\nfrom other sources”. In case of any conflict between the provisions of the\nIncome Tax Act and the ICDS, the provisions of the Act shall prevail to\nthe extent. We find this ICDS deals with the treatment of Government\ngrants. The Government grants are sometimes called by other names\nsuch as subsidies, cash