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

Capital\nGain (LTCG) in his return of income filed under section 139 on\nbasis of seized papers and Assessing Officer completed\nassessment by accepting said LTCG, since income assessed was\nnot greater than income determined in return processed under\nsection 143(1)(a),there was no case of under reporting of income\nas per provisions of section 270A

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

Capital\nGain (LTCG) in his return of income filed under section 139 on\nbasis of seized papers and Assessing Officer completed\nassessment by accepting said LTCG, since income assessed was\nnot greater than income determined in return processed under\nsection 143(1)(a),there was no case of under reporting of income\nas per provisions of section 270A

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

Capital\nGain (LTCG) in his return of income filed under section 139 on\nbasis of seized papers and Assessing Officer completed\nassessment by accepting said LTCG, since income assessed was\nnot greater than income determined in return processed under\nsection 143(1)(a),there was no case of under reporting of income\nas per provisions of section 270A

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

Capital\nGain (LTCG) in his return of income filed under section 139 on\nbasis of seized papers and Assessing Officer completed\nassessment by accepting said LTCG, since income assessed was\nnot greater than income determined in return processed under\nsection 143(1)(a),there was no case of under reporting of income\nas per provisions of section 270A

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

270A(9) is quashed. Ground of appeal #4: PENALTY LEVIABLE UNDER SECTION 271AAB IS OPTIONAL AND NOT MANDATORY The Ld. AO erred in levying penalty u/s 271AAB of the Act vide order dated 30- 03-2022 without considering the appellants submission that the levy of penalty under Section 271AAB of the Act is discretionary and not mandatory in nature

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

270A(9) is quashed. Ground of appeal #4: PENALTY LEVIABLE UNDER SECTION 271AAB IS OPTIONAL AND NOT MANDATORY The Ld. AO erred in levying penalty u/s 271AAB of the Act vide order dated 30- 03-2022 without considering the appellants submission that the levy of penalty under Section 271AAB of the Act is discretionary and not mandatory in nature

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

270A(9) is quashed.\nGround of appeal #4: PENALTY LEVIABLE UNDER SECTION 271AAB IS\nOPTIONAL AND NOT MANDATORY\nThe Ld. AO erred in levying penalty u/s 271AAB of the Act vide order dated 30-\n03-2022 without considering the appellants submission that the levy of penalty\nunder Section 271AAB of the Act is discretionary and not mandatory in nature

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

270A(9) is quashed.\nGround of appeal #4: PENALTY LEVIABLE UNDER SECTION 271AAB IS\nOPTIONAL AND NOT MANDATORY\nThe Ld. AO erred in levying penalty u/s 271AAB of the Act vide order dated 30-\n03-2022 without considering the appellants submission that the levy of penalty\nunder Section 271AAB of the Act is discretionary and not mandatory in nature

M/S. AVM PRODUCTIONS,CHENNAI vs. ACIT, NON CORPORATE CIRCLE-20(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Ms. Padmavathy. S

270A of the Income Tax Act, 1961 was initiated vide notice u/s.270A of Act dated 25.10.2019 for mis-reporting of income and after hearing the assessee’s objection is noted to have imposed penalty of ₹6,82,606/- viz 200% of the amount of tax payable on misreporting income, vide penalty order M/s. AVM Productions :: 4 :: dated 25.02.2024. On appeal

MELAKANDY PUTHALATH FAROOK,CHENNAI vs. ACIT, CORPORATE CIRCLE-2(1), CHENNAI

The appeal stands partly 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.1890/Chny/2024 (िनधा*रणवष* / Assessment Year: 2017-18) Shri Melekandy Puthalath Farook Acit बनाम/ Faraz No.9 Sbi Colony, Corporate Circle-2(1) Vs. Sastri Nagar, Adyar, Chennai-600 020. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaapf-2644-P (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri D. Anand (Advocate) - Ld. Ar " थ"कीओरसे/Respondent By : Ms. R. Anita (Addl.Cit) -Ld. Sr. Dr

Capital Gains (LTCG) was not offered to tax. The Ld. AO computed LTCG of Rs.112.06 Lacs and framed the assessment. Consequently, in the assessment order, Ld. AO initiated penalty u/s 270A for misreporting of income. 4. During penalty proceedings, a show-cause notice was issued to the assessee u/s 274 r.w.s. 270A on 18-12-2019, a copy of which

S ASHOK,TIRUNELVEL vs. DCIT, CENTRAL CIRCLE-1(3), CHENNAI

In the result, appeals filed by the assessees are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

270A cannot be levied for the addition made under deeming provisions of the Act. 6. The ITAT Delhi in the case ITO vs. Ajay Sharma (ITAT Delhi, 2017) canceled the penalty under Section 271(1)(c) for an addition made under Section 50C. The tribunal held that the valuation by the Stamp Valuation Authority does not conclusively prove that

S MAGESH,TIRUNELVELI vs. DCIT, CENTRAL CIRCLE-1(3), CHENNAI

In the result, appeals filed by the assessees are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

270A cannot be levied for the addition made under deeming provisions of the Act. 6. The ITAT Delhi in the case ITO vs. Ajay Sharma (ITAT Delhi, 2017) canceled the penalty under Section 271(1)(c) for an addition made under Section 50C. The tribunal held that the valuation by the Stamp Valuation Authority does not conclusively prove that

S MURUGESH,TIRUNELVELI vs. DCIT, CENTRAL CIRCLE-1(3), CHENNAI

In the result, appeals filed by the assessees are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

270A cannot be levied for the addition made under deeming provisions of the Act. 6. The ITAT Delhi in the case ITO vs. Ajay Sharma (ITAT Delhi, 2017) canceled the penalty under Section 271(1)(c) for an addition made under Section 50C. The tribunal held that the valuation by the Stamp Valuation Authority does not conclusively prove that

S. POTHYRAJ,TIUNELVELI vs. DCIT, CENTRAL CIRCLE01(3), CHENNAI

In the result, appeals filed by the assessees are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

270A cannot be levied for the addition made under deeming provisions of the Act. 6. The ITAT Delhi in the case ITO vs. Ajay Sharma (ITAT Delhi, 2017) canceled the penalty under Section 271(1)(c) for an addition made under Section 50C. The tribunal held that the valuation by the Stamp Valuation Authority does not conclusively prove that

S RAMESH,TRUNELVELI vs. DCIT, CENTRAL CIRCLE-1(3), CHENNAI

In the result, appeals filed by the assessees are allowed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

270A cannot be levied for the addition made under deeming provisions of the Act. 6. The ITAT Delhi in the case ITO vs. Ajay Sharma (ITAT Delhi, 2017) canceled the penalty under Section 271(1)(c) for an addition made under Section 50C. The tribunal held that the valuation by the Stamp Valuation Authority does not conclusively prove that

PALLAVA TEXTILES PRIVATE LIMITED ,PALLIPALAYAM vs. ITO , NFAC , DELHI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.862/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-2018 M/S. Pallava Textiles Private Limited, Vs. The Income Tax Officer, 27-C, Sankari Bye Pass Road, National Faceless Assessment Pallipalayam – 638 006, Centre [Nafac], Delhi. Tamil Nadu. [Pan:Aabcp9105F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sridhar, Advocate ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 27.02.2023 घोषणा की तारीख /Date Of Pronouncement : 10.03.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi, Dated 05.07.2022 Relevant To The Assessment Year 2017-2018 In Confirming Levy Of Penalty Under Section 270A Of The Income Tax Act, 1961 [“Act” In Short].

gain nor do we have any intention to jeopardize the interest of the revenue by delayed filing of the appeal.” By way of another affidavit, the assessee’s submissions are as under: “The appeal papers were sent by courier on 21/10/2022 – vide Receipt No. 25103409 for delivery to ITAT, Chennai From the track record of the courier service

ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE 1 CHENNAI, CHENNAI vs. PRUDENTIAL SUGAR CORPORATION LIMITED, CHITOOR

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:2298/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19 The Assistant Commissioner Of Prudential Sugar Corporation Income Tax, Vs. Limited, Ltu, Circle -1, Prudential Nagar, Chennai. Koppedu Post, Nindra, Mandal – 517 587. [Pan:Aaacp-4338-D] (अपीलाथ"/Appellant) (""थ"/Respondent)

6. The aforesaid Long Term Capital Loss, on sale of the shares was set off against Long Term Capital Gain arose on account of slump sale. 7. The assessee filed the details of sale transactions including the ledger accounts of Discovery Infoways Limited and Prudential Ammana Sugar Limited along with bank statement reflecting the transaction details of shares purchased. Further

ASIRVAD MICRO FINANCE LIMITED,ANNA SALAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -1(1), CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1140/Chny/2025 Assessment Years: 2016-17 Asirvad Micro Finance Limited, Assistant Commissioner Of No.9, 9Th Floor, Club House Road, Income Tax, Annasalai, Corporate Circle-1(1), Chennai-600 002 Chennai. [Pan: Aagca5275J] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr.P.R.Prasanna Varma, Fca & Mr.Arjun Rajagopalan, C.A. प्रत्यर्थी की ओर से /Revenue By : Mr.Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 25.09.2025 घोषणा की तारीख /Date Of Pronouncement : 05.12.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

6 - of 16 11UA is based upon correct understanding and interpretation of the facts of the case. 7.0 The Ld.Counsel for the assessee has argued that without prejudice to the absence of any merit in the addition made by the Ld.AO, the additional ground raised by it now strikes at the very root of the addition as a legal ground