TAMIL NADU BRICK INDUSTRIES,CHENNAI vs. ITO, CHENNAI

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.744/Chny/2017 "नधा"रण वष"/Assessment Year:2013-14 M/S. Tamilnadu Brick Industries, The Income Tax Officer, No. 47, Mangali Nagar 1St Street, Vs. Non Corporate Circle 8(1), Arumbakkam, Chennai 600 106. Chennai. [Pan: Aafft3643P] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Shri Vijay Kumar Punna, Jr. Standing Counsel सुनवाई क" तार"ख/ Date Of Hearing : 13.02.2018 घोषणा क" तार"ख /Date Of Pronouncement : 11.05.2018 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) 9, Chennai, Dated 27.02.2017 Relevant To The Assessment Year 2013-14. The Assessee Has Raised The Following Grounds: “1. The Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 27.02.2017 In I.T.A.No.07/Cit(A)-9/2016-17 For The Above Mentioned Assessment Year Is Contrary To Law, Facts & In The Circumstances Of The Case.

capital gains by adopting devices such as the enjoyment of property in pursuance of a revocable power of attorney or part performance of a contract of sale was sought to be arrested by introducing the two clauses, cls(v) and (vi), in Section 2(47). Section 2(47) contemplates a transaction which enables direct and immediate possession to be taken

ARTHI BALIGA,CHENNAI vs. ACIT, NFAC, , DELHI

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

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. No.1559/Chny/2024 िनधा"रण वष"/Assessment Year: 2017-18 Arthi Baliga, Vs. The Principal Commissioner Of No. 15, Flat No. 3-C, Coral Woods Income Tax, Chennai-4, Apartment, Sri Ram Nagar, South Chennai. Street, Alwarpet, Chennai 600 018. [Pan:Bkjpb5416P] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Ravi Kannan, Advocate & Shri Varun Ranganathan, Advocate ""थ" की ओर से/Respondent By : Shri Nilay Baran Som, Cit सुनवाई की तारीख/ Date Of Hearing : 05.12.2024 घोषणा की तारीख /Date Of Pronouncement : 28.02.2025 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 19.03.2024 Passed By The Ld. Principal Commissioner Of Income Tax, Chennai-4, Chennai For The Assessment Year 2017-18 Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

27 I.T.A. No.1559/Chny/24 partner and the assessee therein. Further, it was held that the partnership was not a matter of heritable status but purely on contract. 25. The reference to the provisions of section 189 r.w.s. 45(4) of the Act, made by the ld. AR regarding the applicability of section 189 r.w.s. 45(4) of the Act, we find

ACIT, LTU-2,, CHENNAI vs. ASHOK LEYLAND LIMITED, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Capital Gains [As per Section 45(2) of the Act] Investment Investment directly inherited Particulars held by on merger Total assessee of ASL to assessee A) Long-term (LT) investment: % share in ownership interest(LT in nature) 1.59% 46.93% 48.52% Cost of acquisition 747.58 22.108.55 22,856.13 Indexed Cost of acquisition [upto FY 2013-14] 884.98 27

PALANISAMY RANI,ERODE vs. PCIT-1, COIMBATORE, COIMBATORE

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1490/Chny/2023 िनधा"रणवष" / Assessment Year: 2017-18 Principal Commissioner Of Palanisamy Rani, V. Income Tax, 38, Emm Road-2, Chennimalai Coimbatore. Road, Erode – 638 001. [Pan:Biqpr-2991-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. T. Vasudevan, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 09.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 10.07.2024 आदेश /O R D E R

27,211/- under the short-term capital gain.” Aggrieved by the impugned action of the Ld.PCIT, the assessee is before us. 5. The Ld.Counsel for the assessee assailed the impugned action of revision by the Ld.PCIT, which amounts to review and not amenable to revisionary jurisdiction and prayed for quashing the impugned order of the Ld.PCIT and restore the order

MAHINDRA RESIDENTIAL DEVELOPERS LTD.,CHENGALPUT vs. ITO, CHENNAI

27,260, namely, Rs. 17,040 and after reducing this cost from Rs.\n5 lakhs, brought the balance of Rs. 4,82,960 as long-term capital gains.\n2. The assessee preferred an appeal to the AAC. Before the AAC, in addition to\ncontending that the rights transferred under the document cannot be\nconsidered to be a capital asset

M/S. MAHINDRA RESIDENTIAL DEVELOPERS LTD.,,KANCHIPURAM vs. ITO, CORPORATE WARD - 4 (1),, CHENNAI

In the result, the appeals of the assessee for AYs 2012-13, 2013-14

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.870/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 & आयकर अपील सं./Ita Nos.338 & 339/Chny/2020 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

27 :: perpetual lease is akin to sale of property. The relevant findings of the Hon’ble High Court is noted to be as follows:- “4. This court is of opinion that there is no merit in the appellant/assessee's contentions that the occupancy rights are not in the nature of capital assets, the transfer of which do not attract capital

LATE S. YOGARATHINAM, REP. BY L/H Y. SHANMUGA DURAI,CHENNAI vs. ACIT, CIRCLE-1(2), CHENNAI

In the result the appeal of the assessee is allowed

Bench: Shri George George Kand Shri S.R. Raghunathaआयकर अपील सं./Ita No.:626/Chny/2024 िनधा"रण वष"/Assessment Year:2010-11 Shri Y. Shanmuga Durai, L/H Of Acit Late S.Yogarathinam Vs. Circle -1(2) Old No.24, No.14, Chennai. 17/24, Ramanathan Street, T.Nagar, Chennai-600 017. Pan: Aakpy-9845-P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Mr. N. Arjun Raj, Advocate ""यथ"क"ओरसे/Respondent By : Mr. Ar.V. Sreenivasan, Cit सुनवाई क" तारीख/Date Of Hearing : 06.03.2025 घोषणा क" तारीख/Date Of Pronouncement : 17.03.2025

section 2(47) and hence we cannot countenance the action of the ld.CIT(A) in bringing the settlement transactions under the ambit of taxation under the head capital gains. 26. The reliance placed by the ld.AR in the case of CIT vs Nagaraja Rao in ITA No.3038 of 2005 dated 19.02.2012 (Hon’ble Karnataka High Court) wherein their Lordship

V RAMAKRISHNAN,CHENNAI vs. DCIT CENTRAL CIRCLE III(4), CHENNAI

In the result, the appeal for the A

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

27. The Hon’ble Delhi High Court in the case of CIT v. Ravi Kant Jain, reported in 250 ITR 141 under identical circumstances had held as follows: “3. We have heard the learned counsels for the parties. In this appeal, it has been stated that the Tribunal was not justified in deleting the additions made by the Assessing Officer

V RAMAKRISHNAN,CHENNAI vs. DCIT CENTRAL CIRCLE III(4) , CHENNAI

In the result, the appeal for the A

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

27. The Hon’ble Delhi High Court in the case of CIT v. Ravi Kant Jain, reported in 250 ITR 141 under identical circumstances had held as follows: “3. We have heard the learned counsels for the parties. In this appeal, it has been stated that the Tribunal was not justified in deleting the additions made by the Assessing Officer

PRICOL ENGINEERING INDUSTRIES LTD.,COIMBATORE vs. ACIT CORPORATE CIRCEL 2, COIMBATORE

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

27. The summary and thereby the conclusion is that the amount of “Net worth” will be a negative figure of Rs.1,83,92,317/- and not Zero. Resultantly the amount of capital gain chargeable to tax will be on Rs.1,82,92,317/-. Reliance is also placed on the decision of the ITAT Mumbai Bench ‘I’(Special Bench

NATESAN EKAMBARAM,CHENNAI vs. DCIT CENTRAL CIRCLE 1(2), CHENNAI

In the result, the ground of appeal raised by the assessee on this issue stands allowed

Bench: Shri Ss Viswanethra Ravi & Shri S.R. Raghunathaआयकरअपीलसं./Ita No.:2873/Chny/2024 धनिाारणिर्ा / Assessment Year: 2014-15 Natesan Ekambaram, Dcit, 1/115, Bajanai Kovil Vs. Central Circle -1(2), Street, Chennai. Perumbakkam, Medavakkam Post, Chennai – 601 302 [Pan:Ackpe-6757-C] (प्रत्यथी/Respondent) (अपीलाथी/Appellant) अपीलाथीकीओरसे/Appellant By : Mr.K.Vishwa Padmanabhan, Ca. प्रत्यथीकीओरसे/Respondent By : Mr.C.Sivakumar , Addl.Cit.

gains accordingly.” 26. Per contra, the ld.DR argued that the entire sum of Rs.2,50,00,000/- is taxable in the hands of the assessee on receipt basis and vehemently objected to the prayer of the ld.AR in restricting the sale consideration only to the extent of Rs.1,00,44,000/-. 27. We have carefully considered the rival submissions advanced

M.KIRAN KUMAR,CHENNAI vs. ACIT CENTRAL CIRCLE-1(4), CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunatha

section 2(22)(e) of the Act. The assessee had also challenged additions made towards long term capital gain derived from sale of shares on the ground that although the AO has alleged that the assessee is beneficiary of bogus long term capital gain derived from sale of penny stocks, but failed to link the transactions of the assessee with

ITO(EXCEMPTION) TRICHY, TRICHY vs. GRAMA VIDIYAL TRUST, TRICHY

In the result, both ITA No

Bench: Shri Veeravalli Durga Rao, Jm & Shri Girish Agrawalita Nos.1534 & 1535/Chny/2019 Assessment Years: 2009-10 & 2011-12 Income-Tax Officer, Grama Vidiyal Trust, (Exemptions), Trichy Vs. No. 44, Williams Road, Cantonment, Trichy-620001 (Pan: Aaatg2928F) (Appellant) (Respondent) Present For: Appellant By : Shri N. V. Balaji, Advocate Respondent By : Shri Arv. Sreenivasan, Addl. Cit Date Of Hearing : 31.05.2022 Date Of Pronouncement : 24.08.2022 O R D E R Per Girish Agrawal: Both These Appeals By Revenue Are Directed Against The Separate Orders Of Ld. Cit(A)-1, Trichy Vide Ita No. 156/2017-18/Cit(A)-1/Try Dated 04.03.2019 & 163/2017-18/Cit(A)-1/Try Dated 22.02.2019 Against The Separate Orders Of Ld. Ito, Exemptions Ward, Trichy, Passed U/S 143(3) R.W.S. 254 Of The Income-Tax Act,1961 (Hereinafter Referred To As The Act), Both Dated 30.12.2017 For Ays 2009-10 & 2011-12. 2. First We Take Up Ita No. 1534/Chny/2019 For Ay 2009-10 For Which The Revised Ground Taken By The Revenue Is As Under:

capital gains u/s. 11(1A) has to satisfy the conditions of section 11(1) of the Act. According to Ld. Sr. DR, section 11(1) of the Act is the governing section which provides for exclusion of income from the total income for any charitable or religious trust. To buttress his contention, he placed reliance on the decision

ITO(EXCEMPTION) TRICHY, TRICHY vs. GRAMA VIDIYAL TRUST, TRICHY

In the result, both ITA No

Bench: Shri Veeravalli Durga Rao, Jm & Shri Girish Agrawalita Nos.1534 & 1535/Chny/2019 Assessment Years: 2009-10 & 2011-12 Income-Tax Officer, Grama Vidiyal Trust, (Exemptions), Trichy Vs. No. 44, Williams Road, Cantonment, Trichy-620001 (Pan: Aaatg2928F) (Appellant) (Respondent) Present For: Appellant By : Shri N. V. Balaji, Advocate Respondent By : Shri Arv. Sreenivasan, Addl. Cit Date Of Hearing : 31.05.2022 Date Of Pronouncement : 24.08.2022 O R D E R Per Girish Agrawal: Both These Appeals By Revenue Are Directed Against The Separate Orders Of Ld. Cit(A)-1, Trichy Vide Ita No. 156/2017-18/Cit(A)-1/Try Dated 04.03.2019 & 163/2017-18/Cit(A)-1/Try Dated 22.02.2019 Against The Separate Orders Of Ld. Ito, Exemptions Ward, Trichy, Passed U/S 143(3) R.W.S. 254 Of The Income-Tax Act,1961 (Hereinafter Referred To As The Act), Both Dated 30.12.2017 For Ays 2009-10 & 2011-12. 2. First We Take Up Ita No. 1534/Chny/2019 For Ay 2009-10 For Which The Revised Ground Taken By The Revenue Is As Under:

capital gains u/s. 11(1A) has to satisfy the conditions of section 11(1) of the Act. According to Ld. Sr. DR, section 11(1) of the Act is the governing section which provides for exclusion of income from the total income for any charitable or religious trust. To buttress his contention, he placed reliance on the decision

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

Section 2(47) of the Act is 9 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 not attracted to the facts of the present case and it is pleaded for directing the Assessing Officer to delete the addition made in this regard. 19. The ld. AR has, further, submitted that the re-computation of the long term capital gains adopted

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

Section 2(47) of the Act is 9 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 not attracted to the facts of the present case and it is pleaded for directing the Assessing Officer to delete the addition made in this regard. 19. The ld. AR has, further, submitted that the re-computation of the long term capital gains adopted

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

Section 2(47) of the Act is 9 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 not attracted to the facts of the present case and it is pleaded for directing the Assessing Officer to delete the addition made in this regard. 19. The ld. AR has, further, submitted that the re-computation of the long term capital gains adopted

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

Section 2(47) of the Act is 9 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 not attracted to the facts of the present case and it is pleaded for directing the Assessing Officer to delete the addition made in this regard. 19. The ld. AR has, further, submitted that the re-computation of the long term capital gains adopted