ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1), CHENNAI

In the result, all appeals filed by the assessee are allowed

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

capital gain added in AY 2014-15 was unsustainable, since it was not based on any incriminating material found in the course of search. The Ld. AR relying upon the decisions of the Hon'ble Delhi High Court in the case of CIT vs Kabul Chawla (380 ITR 573), which has since been affirmed by the Hon'ble Supreme Court

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

In the result, all appeals filed by the assessee are allowed

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

capital gain added in AY 2014-15 was unsustainable, since it was not based on any incriminating material found in the course of search. The Ld. AR relying upon the decisions of the Hon'ble Delhi High Court in the case of CIT vs Kabul Chawla (380 ITR 573), which has since been affirmed by the Hon'ble Supreme Court

ARVIND NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

In the result, all appeals filed by the assessee are allowed

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

capital gain added in AY 2014-15 was unsustainable, since it was not based on any incriminating material found in the course of search. The Ld. AR relying upon the decisions of the Hon'ble Delhi High Court in the case of CIT vs Kabul Chawla (380 ITR 573), which has since been affirmed by the Hon'ble Supreme Court

DEPUTY COMMISSIONER OF INCOME TAX, NUNGAMBAKKAM vs. PINNATHEVAR PALANICHAMY, MADURAI

capital gains of the assessee. 13. Now the question that arise for our consideration is, whether the material found during the course of search at third party premises viz., ::16 :: Page No. 61 of the pocket diary ID marked ANN/SK/SSSLLP/B&D/S-2 and the statement given by Shri R Sabapathy could establish any link with the assessee and whether it supported

ABDUL LATHIEF MAHAMMED ARIF,COIMBATORE vs. ITO, NCW-5(2), COIMBATORE

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

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

Capital Gains” in the hands of the assessee. 3. The ld. CIT(A) upheld the addition, holding that the seized loose sheets and statements of the purchaser established receipt of on- money by the assessee. Aggrieved, the assessee is in appeal before the Tribunal. 4. The learned Authorised Representative (‘Ld.AR’) submitted that the entire addition is based solely on loose

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI, CHENNAI vs. RAMANATHAN VISWANATHAN, CHENNAI

In the result, all appeals filed by the assessee are allowed and the appeals of the Revenue are dismissed

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

Section 132(4A) of the Act and hence these notings on stand-alone basis would have entailed substantial tax liabilities on him. However, according to the Ld. AR, what Shri CPA did not foresee was that he would be faced with consequences under other regulations such as PMLA, FEMA violations etc. as well. The Ld. AR submitted that, the Revenue

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4),, CHENNAI

Section\n132(4A) of the Act and hence these notings on stand-alone basis would\nhave entailed substantial tax liabilities on him. However, according to the\nLd. AR, what Shri CPA did not foresee was that he would be faced with\nconsequences under other regulations such as PMLA, FEMA violations etc.\nas well. The Ld. AR submitted that, the Revenue

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4),, CHENNAI

Section\n132(4A) of the Act and hence these notings on stand-alone basis would\nhave entailed substantial tax liabilities on him. However, according to the\nLd. AR, what Shri CPA did not foresee was that he would be faced with\nconsequences under other regulations such as PMLA, FEMA violations etc.\nas well. The Ld. AR submitted that, the Revenue

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI

Section\n132(4A) of the Act and hence these notings on stand-alone basis would\nhave entailed substantial tax liabilities on him. However, according to the\nLd. AR, what Shri CPA did not foresee was that he would be faced with\nconsequences under other regulations such as PMLA, FEMA violations etc.\nas well. The Ld. AR submitted that, the Revenue

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRLCE-1(4), CHENNAI vs. RAMANATHAN VISWANATHAN, CHENNAI

Section\n132(4A) of the Act and hence these notings on stand-alone basis would\nhave entailed substantial tax liabilities on him. However, according to the\nLd. AR, what Shri CPA did not foresee was that he would be faced with\nconsequences under other regulations such as PMLA, FEMA violations etc.\nas well. The Ld. AR submitted that, the Revenue

MASILAMANI NANDAGOPAL,CHENNAI vs. ACIT, CC-3(1),, CHENNAI

In the result, appeals filed by the assessee(s) are allowed

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

capital gain on sale of shares in the hands of the assessee in AY 2014-15. Being aggrieved by the order(s) of the AO, the assessee preferred appeal before the Ld. CIT(A) who dismissed the same. Now the assessee is in appeal before us. 5. We first take up the assessee’s appeal

DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

gains, and (v) income from other sources. Thus, the income earned by an assessee falls under these heads of income. This is possible only if the assessee declares all incomes earned during the previous year truly and fairly. However, there are several instances where the assessees are either suppressing their incomes (receipts) or inflating the expenses in order to declare

DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

gains, and (v) income from other sources. Thus, the income earned by an assessee falls under these heads of income. This is possible only if the assessee declares all incomes earned during the previous year truly and fairly. However, there are several instances where the assessees are either suppressing their incomes (receipts) or inflating the expenses in order to declare

ITO, NCW - I (4),, CHENNAI vs. SHRI KANAKILLIYANALLUR NARAYANAN NEHRU,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

gains, and (v) income from other sources. Thus, the income earned by an assessee falls under these heads of income. This is possible only if the assessee declares all incomes earned during the previous year truly and fairly. However, there are several instances where the assessees are either suppressing their incomes (receipts) or inflating the expenses in order to declare

DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

gains, and (v) income from other sources. Thus, the income earned by an assessee falls under these heads of income. This is possible only if the assessee declares all incomes earned during the previous year truly and fairly. However, there are several instances where the assessees are either suppressing their incomes (receipts) or inflating the expenses in order to declare

DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

gains, and (v) income from other sources. Thus, the income earned by an assessee falls under these heads of income. This is possible only if the assessee declares all incomes earned during the previous year truly and fairly. However, there are several instances where the assessees are either suppressing their incomes (receipts) or inflating the expenses in order to declare

DCIT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. SHRI KANAKKILIANALLUR NARAYANA REDDIYAR MANIVANNAN,, TIRUPUR

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

gains, and (v) income from other sources. Thus, the income earned by an assessee falls under these heads of income. This is possible only if the assessee declares all incomes earned during the previous year truly and fairly. However, there are several instances where the assessees are either suppressing their incomes (receipts) or inflating the expenses in order to declare

DICT, CORPORATE CIRCLE - 2 (1),, CHENNAI vs. M/S. GSNR RICE INDUSTRIES PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue for Asst

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2407, 2408, 2409, 2410 & 2411/Chny/2019 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14, 2014-15 & 2015-16 The Dcit, M/S. Gsnr Rice Industries Corporate Circle – 2(1), V. Pvt. Ltd., Chennai. (Formerly Known As M/S. Snr Rice Industries Pvt. Ltd.,) No.21, C V Raman Raod, Alwarpet, Chennai – 600 018. Pan: Aamcs 5834P

gains, and (v) income from other sources. Thus, the income earned by an assessee falls under these heads of income. This is possible only if the assessee declares all incomes earned during the previous year truly and fairly. However, there are several instances where the assessees are either suppressing their incomes (receipts) or inflating the expenses in order to declare