ALTHI VENKATA NARENDRA RAJU,CHENNAI vs. DCIT, CENTRAL CIRCLE-1(2), CHENNAI

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

Capital Gain for the AY 2014-15.\n\n4.0\nThe Ld. Counsel for the assessee has vehemently argued that the\norder dated 28.09.2021 passed by the Ld.AO is barred by limitation within\nthe meanings of section 153(3). It has been argued inviting reference to\nthe statutory provisions of section 153(3) as well as judicial precedents\ncovering the subject

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-:

254 of the Act by sustaining the additions made in the earlier order dated 30.12.2010 by holding as under: 4. Against the above order of the CIT Appeal, the assessee went on appeal before the Hon'ble ITAT, Chennai. The Hon’ble ITAT vide order in ITA No. 584/Mds/2017 dated 28.02.2018 passed the order with findings remitted to the file

AADARSH SURANA, CHENNAI,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI

254 of the Income-tax Act, 1961 [hereinafter referred to as \"the\nAct\"]. The impugned order arises from the assessment order dated 29.12.2019\npassed u/s.143(3) of the Act by the Deputy Commissioner of Income Tax,\nCorporate Circle-1(1), Chennai [hereinafter referred to as \"the Assessing\nOfficer\" or \"AO\"], pertaining to the Assessment Year 2017-18.\n2. The assessee

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

254, the income of the assessee has been determined as under: - Short Term 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

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

gain. Ground No.8 is related to interest u/s 234A/B/C. Ground No.9 is related to penalty levied. Accordingly, the ground of appeal is disposed of in the subsequent paragraphs. 6.2 During appeal proceedings, the appellant has filed written submission. Relevant portion of submission is reproduced below: 3. The following case laws are relied upon where in it has been held that

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

gain. Ground No.8 is related to interest u/s 234A/B/C. Ground No.9 is related to penalty levied. Accordingly, the ground of appeal is disposed of in the subsequent paragraphs. 6.2 During appeal proceedings, the appellant has filed written submission. Relevant portion of submission is reproduced below: 3. The following case laws are relied upon where in it has been held that

UNITED INDIA INSURANCE CO LIMITED,CHENNAI vs. PCIT-3, CHENNAI

In the result, the appeals for AY 2014-15, 2016-17 & 2017-18 are partly allowed and appeals for AY 2015-16 & 2017-18 (in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1759/Chny/2019, 182 & 183/Chny/2021, 430/Chny/2022 & 683/Chny/2023 िनधा"रण वष"/Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18 United India Insurance Co. Ltd., Vs. The Principal Commissioner Of O/O The Chief Manager, Cfac Income Tax – 3, Department, Head Office, United India Chennai 600 034. Nalanda, Door No. 19, Ground Floor, 4Th Lane, Utamar Gandhi Salai, Chennai 600 034. [Pan:Aaacu5552C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sundararaman, Ca ""थ" की ओर से/Respondent By : Ms. V. Pushpa, Sr. Standing Counsel (Virtual) सुनवाई की तारीख/ Date Of Hearing : 07.10.2025 घोषणा की तारीख /Date Of Pronouncement : 05.01.2026 आदेश /O R D E R Per S.S. Viswanethra Ravi: The Appeal In Ita No. 1759/Chny/2019 Filed By The Assessee Is Directed Against The Order Dated 29.03.2019 Passed By The Ld. Principal Commissioner Of Income Tax-3, Chennai For The Assessment Year 2014- 15. The Appeals In Ita No. 182 & 183/Chny/2021 Are Filed By The Assessee Against Different Orders Both Dated 28.03.2021 Passed By The Ld. Pcit-3, Chennai For The Assessment 2015-16 & 2016-17. The 2

capital gains arising therefrom are exempt under specific provisions of section 10(38) of the Act. The Tribunal further placing reliance on the decision of Hon’ble High Court of Bombay in the case of New India assurance company Limited reported in 254

UNITED INDIA INSURANCE CO LTD,CHENNAI vs. PCIT, CHENNAI

capital gains arising therefrom are exempt under\nspecific provisions of section 10(38) of the Act. The Tribunal further\nplacing reliance on the decision of Hon'ble High Court of Bombay in the\ncase of New India assurance company Limited reported in 254

UNITED INDIA INSURANCE CO.LIMITED,CHENNAI vs. PCIT-3, CHENNAI

capital gains arising therefrom are exempt under\nspecific provisions of section 10(38) of the Act. The Tribunal further\nplacing reliance on the decision of Hon'ble High Court of Bombay in the\ncase of New India assurance company Limited reported in 254

UNITED INDIA INSUANCE CO LIMITED,CHENNAI vs. PCIT 3, CHENNAI

capital gains arising therefrom are exempt under\nspecific provisions of section 10(38) of the Act. The Tribunal further\nplacing reliance on the decision of Hon'ble High Court of Bombay in the\ncase of New India assurance company Limited reported in 254

UNITED INDIA INSURANCE CO.LTD,CHENNAI vs. PCIT-3,, CHENNAI

capital gains arising therefrom are exempt under\nspecific provisions of section 10(38) of the Act. The Tribunal further\nplacing reliance on the decision of Hon'ble High Court of Bombay in the\ncase of New India assurance company Limited reported in 254

M/S. TAFE MOTORS AMD TRACTORS LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(1), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.1511, 1512 & 1513/Chny/2025 िनधा"रण वष"/Assessment Years: 2010-11, 2017-18 & 2018-19 V. M/S.Tafe Motors & Tractors Ltd., The Dcit, New No.77, Old No.35, Corporate Cirlce-3(1), Pottipati Plaza, Chennai. Nungambakkam High Road, Nungambakkam, Chennai-600 034. [Pan: Aacct 2459 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

capital gains. (iii) Denial of claim of expenditure: Rs.6,49,60,105/- : During the course of assessment proceedings, the AO examined the details of miscellaneous expenditure and observed that the appellant had incurred expenses amounting to Rs.3,64,30,458/- on product development and Rs.2,85,29,647/- on tool development, totaling Rs.6,49,60,105/-. Upon verification

M/S. TAFE MOTORS AMD TRACTORS LTD.,,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(1), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.1511, 1512 & 1513/Chny/2025 िनधा"रण वष"/Assessment Years: 2010-11, 2017-18 & 2018-19 V. M/S.Tafe Motors & Tractors Ltd., The Dcit, New No.77, Old No.35, Corporate Cirlce-3(1), Pottipati Plaza, Chennai. Nungambakkam High Road, Nungambakkam, Chennai-600 034. [Pan: Aacct 2459 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

capital gains. (iii) Denial of claim of expenditure: Rs.6,49,60,105/- : During the course of assessment proceedings, the AO examined the details of miscellaneous expenditure and observed that the appellant had incurred expenses amounting to Rs.3,64,30,458/- on product development and Rs.2,85,29,647/- on tool development, totaling Rs.6,49,60,105/-. Upon verification

M/S. TAFE MOTORS AMD TRACTORS LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(1), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.1511, 1512 & 1513/Chny/2025 िनधा"रण वष"/Assessment Years: 2010-11, 2017-18 & 2018-19 V. M/S.Tafe Motors & Tractors Ltd., The Dcit, New No.77, Old No.35, Corporate Cirlce-3(1), Pottipati Plaza, Chennai. Nungambakkam High Road, Nungambakkam, Chennai-600 034. [Pan: Aacct 2459 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

capital gains. (iii) Denial of claim of expenditure: Rs.6,49,60,105/- : During the course of assessment proceedings, the AO examined the details of miscellaneous expenditure and observed that the appellant had incurred expenses amounting to Rs.3,64,30,458/- on product development and Rs.2,85,29,647/- on tool development, totaling Rs.6,49,60,105/-. Upon verification

DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE, MADURAI vs. M/S RAMCO SYSTEMS LIMITED, RAJAPALAYAM

In the result, appeal filed by the Revenue is dismissed

capital gain.\nIn order to assess/examine the same in the hands of the assessee, this case may\nbe reopened.\"\n6.\nA reading of the reasons recorded by the AO to justify re-opening is\nnoted to be regarding allowability of unabsorbed depreciation pertaining\nto AY 2000-01 & 2001-02 to be set-off against income of AY 2009-10.\nHowever

THE ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. M/S THULASI & OTHERS, CHENNAI

The appeal stands dismissed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.18/Chny/2021 (िनधा*रण वष* / Assessment Year: 2011-12) Dcit M/S. Thulasi & Others बनाम/ 32, (Old No.43), 2Nd Floor, Non-Corporate Circle-8(1) Chennai. K.Bharathidasan Salai, Siet College Road Vs. Alwarpet, Chennai-600 018. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaofm-9784-F (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri D. Hema Bhupal (Jcit)- Ld. Dr " थ"कीओरसे/Respondent By : Shri S. Sridhar (Advocate)-Ld.Ar सुनवाईकीतारीख/Date Of Hearing : 21-06-2023 घोषणाकीतारीख /Date Of Pronouncement : 08-09-2023 आदेश / O R D E R

capital gains while he had already reopened the assessment of payer assessee. Considering the same, present AO mechanically issued notice u/s 148. In the proposal seeking approval of reopening, it was mentioned that the assessee did not file the return of income and it did not have any PAN. However, the original scrutiny assessment u/s 143(3) was already carried

RAJAMANICKAM MEERABAI,CHENNAI vs. ITO, CHENNAI

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

Bench: Shri Mahavir Singh & Shri Manjunatha.Gआयकरअपीलसं./Ita No.: 923/Chny/2020 िनधा"रण वष"/Assessment Year: 2006 - 07 Smt. Rajamanikam Meerabai, The Income Tax Officer, Door No.29, Old No.T-2-2, Vs. Non Corporate Ward -15(3), Cauveri Salai Chennai. Besant Nagar South, Chennai – 600 090. Pan: Aaopm 7401M (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओरसे/Appellant By : Shri N. Arjun Raj, C.A ""यथ"क" ओ रसे/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 10.10.2023 घोषणा क" तारीख/Date Of Pronouncement : 18.10.2023 आदेश /O R D E R Per Mahavir Singh: This Appeal By The Assessee Is Arising Out Of The Order Of The Commissioner Of Income Tax (Appeals)-15, Chennai In Ita No.180/Cit(A)-15/2016-17 Dated 21.09.2020. The Assessment Was Framed By The Income Tax Officer, Non Corporate Ward 15(3), Chennai For The Assessment Year 2006-07 U/S. 143(3) R.W.S. 254 Of The Income Tax Act, 1961 (Hereinafter The ‘Act’), Vide Order Dated 31.03.2016. 2. The Only Issue In This Appeal Of Assessee Is As Regards To The Order Of Cit(A) Confirming The Action Of The Ao In Computing Long Term Capital Gain & Disallowing The Claim Of Exemption U/S.54 Of The Act. For This, Assessee Has Raised Various Grounds Which Are Argumentative & Exhaustive & Hence, Need Not Be Reproduced.

254 of the Income Tax Act, 1961 (hereinafter the ‘Act’), vide order dated 31.03.2016. 2. The only issue in this appeal of assessee is as regards to the order of CIT(A) confirming the action of the AO in computing long term capital gain and disallowing the claim of exemption u/s.54 of the Act. For this, assessee has raised various

ACIT (LTU), CHENNAI vs. TAMILNADU PETRO PRODUCTS LIMITED, CHENNAI

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

Bench: Dr. Manish Borad, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकर अपील सं./Ita No.: 3299/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 The Assistant Commissioner Of M/S. Tamilnadu Petroproducts Income Tax, V. Limited Large Taxpayer Unit-2, Post Box No. 9, Manali Express Room No. 711, 7Th Floor, Highway, Wanaparthy Block, Manali, Chennai – 600 068. No. 121, M.G. Road, [Pan: Aaact-1295-M] Chennai – 600 034. अपीलाथ" क" ओर से/Appellant By : Shri. R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri. D. Hema Bhupal, Jcit सुनवाई की तारीख/Date Of Hearing : 19.04.2023 घोषणा की तारीख/Date Of Pronouncement : 21.04.2023

254. 12. We find that the alleged claim of foreign currency loss is notional in nature and the same has been calculated for the outstanding foreign currency payable/receivable by the assessee for the contract which have not expired at the close of the year. In the instant case, such contract which did not expire on 31.03.2013, the foreign currency loss

DCIT CORPORATE CIRCLE 1(1), CHENNAI vs. ABAN OFFSHORE LTD., CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./It(Tp)A Nos.: 21/Chny/2022 & 40/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 & 2018-19 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Tpo Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita Nos.: 797 & 798/Chny/2020 िनधा"रण वष" / Assessment Years: 2011-12 & आयकर अपील सं./Ita No.: 2757/Chny/2017 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of 113, Janpriya Crestpantheon V. Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] आयकर अपील सं./Ita No.: 1672/Chny/2019 िनधा"रण वष" / Assessment Year: 2013-14 M/S. Aban Offshore Limited, Deputy Commissioner Of V. 113, Janpriya Crestpantheon Income Tax, Road, Egmore, Corporate Circle -1(1), Chennai – 600 008. Chennai. [Pan: Aaaca-3012-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. P. Murali Mohana Rao, Ca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 27.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 08.11.2023

gains from business or profession", the deduction account of interest on borrowed fund is provided under section 36(1)(iii) the Act, where the business assets are acquired out of borrowed funds. At this stage, it may be pertinent to note that depreciation is also allowable as deduction under section 32 in respect of business assets on the cost