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318 results for “capital gains”+ Section 271clear

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Key Topics

Section 271(1)(c)114Section 14A48Addition to Income46Penalty39Disallowance33Section 143(3)28Section 234E28Section 10A27Section 14818

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

In the result, appeal filed by the assessee in ITA

ITA 1165/CHNY/2023[2016-17]Status: DisposedITAT Chennai06 Mar 2024AY 2016-17

Bench: Shri Manjunatha. G & Shri Manomohan Das

Section 271Section 271(1)(C)Section 271ASection 274

gains were ITA Nos.1164 & 1165/Chny/2023 :: 23 :: 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

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

In the result, appeal filed by the assessee in ITA

Showing 1–20 of 318 · Page 1 of 16

...
Section 54F16
Section 27416
Capital Gains16
ITA 1164/CHNY/2023[2015-16]Status: DisposedITAT Chennai06 Mar 2024AY 2015-16

Bench: Shri Manjunatha. G & Shri Manomohan Das

Section 271Section 271(1)(C)Section 271ASection 274

gains were ITA Nos.1164 & 1165/Chny/2023 :: 23 :: 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

PENTA MEDIA GRAPHICS LTD.,CHENNAI vs. DCIT, CHENNAI

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

ITA 1402/CHNY/2015[2000-01]Status: DisposedITAT Chennai10 May 2023AY 2000-01

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.1402/Chny/2015 िनधा"रण वष"/Assessment Year: 2000-01 M/S. Penta Media Graphics Ltd., The Deputy Commissioner Of ‘Taurus’, No. 25, First Main Road, Vs. Income Tax, Media Circle I, Room No. 311, 3Rd Floor, New Block, United India Colony, Kodambakkam, Chennai 600 024. 121, Mahatma Gandhi Road, Nungambakkam, Chennai 600 034. [Pan: Aaacp1647B] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri G. Baskar, Advocate & : Smt. Sree Valli Lakshmi, Advocate ""थ" की ओर से/Respondent By None [Dept. Letter Submission] : सुनवाई की तारीख/ Date Of Hearing 12.04.2023 : घोषणा की तारीख /Date Of Pronouncement : 10.05.2023 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) 14, Chennai Dated 30.03.2015 Passed Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

Section 143(3)Section 271(1)(c)

capital gain on sale at Rs.67.50 crores. In view of this, I am of the opinion that the assessee has failed to disclose its true and correct income and thereby attracted the provisions of section 271

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

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

ITA 3374/CHNY/2019[2015-16]Status: DisposedITAT Chennai01 Mar 2021AY 2015-16

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

For Appellant: Shri G.Baskar, Advocate
Section 10(38)Section 133ASection 2(22)(e)

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

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

ITA 756/CHNY/2015[2007-2008]Status: DisposedITAT Chennai20 Aug 2019AY 2007-2008

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

For Appellant: Shri. S. Sridhar, Advocate
Section 143(3)Section 153CSection 271

capital gains had arisen prior to 01.04.1999. In the case of alleged unexplained investments in land at Kodaikanal , the Assessing Officer further observed that the appellant had not fulfilled the condition stipulated to avail the benefit of immunity from the imposition of penalty proceeding provided in Explanation (5) to Section 271

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

ITA 754/CHNY/2015[2000-2001]Status: DisposedITAT Chennai20 Aug 2019AY 2000-2001

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

For Appellant: Shri. S. Sridhar, Advocate
Section 143(3)Section 153CSection 271

capital gains had arisen prior to 01.04.1999. In the case of alleged unexplained investments in land at Kodaikanal , the Assessing Officer further observed that the appellant had not fulfilled the condition stipulated to avail the benefit of immunity from the imposition of penalty proceeding provided in Explanation (5) to Section 271

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

ITA 755/CHNY/2015[2001-2002]Status: DisposedITAT Chennai20 Aug 2019AY 2001-2002

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

For Appellant: Shri. S. Sridhar, Advocate
Section 143(3)Section 153CSection 271

capital gains had arisen prior to 01.04.1999. In the case of alleged unexplained investments in land at Kodaikanal , the Assessing Officer further observed that the appellant had not fulfilled the condition stipulated to avail the benefit of immunity from the imposition of penalty proceeding provided in Explanation (5) to Section 271

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

ITA 905/CHNY/2020[1998-99]Status: DisposedITAT Chennai13 May 2022AY 1998-99

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri D. Anand (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. Sr. DR
Section 271Section 271(1)(c)Section 274

section 271(1)(c) did not specifically state as to whether assessee was guilty of concealing particulars of his income or had furnished inaccurate particulars of income. Hence, the impugned penalty was invalid and same was to be set aside. The adjudication of Hon’ble Court was as under: - 18. The first aspect is as to whether there

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT CC4(2), CHENNAI

The appeals stand allowed on similar lines

ITA 908/CHNY/2020[2001-02]Status: DisposedITAT Chennai13 May 2022AY 2001-02

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri D. Anand (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. Sr. DR
Section 271Section 271(1)(c)Section 274

section 271(1)(c) did not specifically state as to whether assessee was guilty of concealing particulars of his income or had furnished inaccurate particulars of income. Hence, the impugned penalty was invalid and same was to be set aside. The adjudication of Hon’ble Court was as under: - 18. The first aspect is as to whether there

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

ITA 909/CHNY/2020[2002-03]Status: DisposedITAT Chennai13 May 2022AY 2002-03

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri D. Anand (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. Sr. DR
Section 271Section 271(1)(c)Section 274

section 271(1)(c) did not specifically state as to whether assessee was guilty of concealing particulars of his income or had furnished inaccurate particulars of income. Hence, the impugned penalty was invalid and same was to be set aside. The adjudication of Hon’ble Court was as under: - 18. The first aspect is as to whether there

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

ITA 906/CHNY/2020[1999-2000]Status: DisposedITAT Chennai13 May 2022AY 1999-2000

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri D. Anand (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. Sr. DR
Section 271Section 271(1)(c)Section 274

section 271(1)(c) did not specifically state as to whether assessee was guilty of concealing particulars of his income or had furnished inaccurate particulars of income. Hence, the impugned penalty was invalid and same was to be set aside. The adjudication of Hon’ble Court was as under: - 18. The first aspect is as to whether there

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

ITA 907/CHNY/2020[2000-01]Status: DisposedITAT Chennai13 May 2022AY 2000-01

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri D. Anand (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. Sr. DR
Section 271Section 271(1)(c)Section 274

section 271(1)(c) did not specifically state as to whether assessee was guilty of concealing particulars of his income or had furnished inaccurate particulars of income. Hence, the impugned penalty was invalid and same was to be set aside. The adjudication of Hon’ble Court was as under: - 18. The first aspect is as to whether there

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

ITA 912/CHNY/2020[2005-06]Status: DisposedITAT Chennai13 May 2022AY 2005-06

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri D. Anand (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. Sr. DR
Section 271Section 271(1)(c)Section 274

section 271(1)(c) did not specifically state as to whether assessee was guilty of concealing particulars of his income or had furnished inaccurate particulars of income. Hence, the impugned penalty was invalid and same was to be set aside. The adjudication of Hon’ble Court was as under: - 18. The first aspect is as to whether there

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

ITA 910/CHNY/2020[2003-04]Status: DisposedITAT Chennai13 May 2022AY 2003-04

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri D. Anand (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. Sr. DR
Section 271Section 271(1)(c)Section 274

section 271(1)(c) did not specifically state as to whether assessee was guilty of concealing particulars of his income or had furnished inaccurate particulars of income. Hence, the impugned penalty was invalid and same was to be set aside. The adjudication of Hon’ble Court was as under: - 18. The first aspect is as to whether there

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

ITA 911/CHNY/2020[2004-05]Status: DisposedITAT Chennai13 May 2022AY 2004-05

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri D. Anand (Advocate) – Ld. ARFor Respondent: Shri G. Johnson (Addl. CIT) –Ld. Sr. DR
Section 271Section 271(1)(c)Section 274

section 271(1)(c) did not specifically state as to whether assessee was guilty of concealing particulars of his income or had furnished inaccurate particulars of income. Hence, the impugned penalty was invalid and same was to be set aside. The adjudication of Hon’ble Court was as under: - 18. The first aspect is as to whether there

KEMIA INDUSTRIES LIMITED,CHENNAI vs. ITO, CHENNAI

The appeal stands allowed in terms of our above order

ITA 1276/CHNY/2017[2012-13]Status: DisposedITAT Chennai04 May 2022AY 2012-13

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Anikesh Banerjee, Jm

For Appellant: Shri G. Baskar (Advocate) – Ld. ARFor Respondent: Shri Guru Bashyam (CIT) – Ld. DR
Section 271(1)(c)

capital gains’ and re- determined the assessee’s income. As per submissions made before us, the assessment has attained finality and the assessee has paid the outstanding tax demand. 4.4 Consequently, penalty proceedings were initiated by Ld. AO in the body of assessment order as follows: - This amount of demand should be paid within one month and penalty proceedings

D.HARINDRAN,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the assessee is allowed

ITA 233/CHNY/2016[2011-12]Status: DisposedITAT Chennai23 Sept 2016AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamony

For Appellant: Shri D.Anand, AdvocateFor Respondent: Shri A.V.Sreekanth, JCIT
Section 271Section 4Section 54

271 (1) (c) of the Act. On appeal by the assessee, the CIT(A) has also confirmed the same. Referring to the penalty order, the learned counsel for the assessee submitted that the assessee claimed exemption under Section 54/54F in respect of a capital gain

DCIT, CHENNAI vs. M/S. INDO INTERNATIONAL LTD., CHENNAI

In the result, the appeal of the Revenue is dismissed

ITA 58/CHNY/2011[2006-07]Status: DisposedITAT Chennai12 May 2016AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.58/Mds/2011 "नधा"रण वष" / Assessment Year : 2006-07 The Deputy Commissioner Of M/S Indo International Ltd., No.18, 1St Floor, Sunkurama Street, Income Tax, V. Company Circle – Ii(3), Chennai - 600 001. Chennai - 600 034. Pan : Aaaci 2408 R (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. B. Nischal, JCITFor Respondent: Shri S. Sridhar, Advocate
Section 2Section 271(1)(c)Section 50Section 56(1)

Section 2 I.T.A. No.58/Mds/11 271(1)(c) of the Income-tax Act, 1961 (in short "the Act") on the ground that the assessee furnished inaccurate particulars of income. According to the Ld. D.R., the assessee sold both the properties, which were used as office premises, for a total consideration of `1,35,00,000/- and offered

MOHAMED AKBAR,CHENNAI vs. ITO, NCC-10(3), CHENNAI

In the result, this appeal of the assessee is partly allowed

ITA 1909/CHNY/2025[2015-16]Status: HeardITAT Chennai26 Sept 2025AY 2015-16

Bench: Shri Ss Viswanethra Ravi & Shri Ratnesh Nandan Sahaymohamed Akbar, I.T.O., 2/2 1St St., Gf, Apt No. 2, Vs. Non-Corporate Circle 10(3), Jamalia Perambur High Road, Chennai. Chennai-12 Pan No. Afepa 3815 Q Appellant/ Assessee Respondent/ Revenue

Section 142(1)Section 144Section 271(1)(C)Section 271(1)(c)Section 54

capital gains. The Assessing Officer also initiated penalty under Section 271(1)(C) of the Act for concealment of income

PVP VENTURES LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 5(2), CHENNAI

The appeal stands partly allowed in terms of our above order

ITA 778/CHNY/2019[2008-09]Status: DisposedITAT Chennai08 Jun 2022AY 2008-09

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri T. Banusekar (Advocate)-Ld. A.RFor Respondent: Shri ARV Sreenivasan (Addl. CIT) – Ld. DR
Section 139(1)Section 139(2)Section 143(3)Section 22(1)Section 271(1)(c)Section 274Section 69A

Capital Gains on land for Rs.3107.20 Lacs. 3.2 Subsequent to framing of assessment, penalty proceedings were initiated against the issue and initial show cause notice u/s 274 r.w.s. 271(1)(c) was issued on 31.12.2010 which read as under: - Whereas in the course of proceedings before me for the assessment year 2008-09 appears to me that you:- *have without