ABAN OFFSHORE LIMITED,CHENNAI vs. DCIT, INTL, TAX 1(1), CHENNAI

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

43A stand excluded, the method of computing the business income\nof the non-resident on the basis of the books of account goes out of the\npicture. Then it is only the provisions of sections 44AD, 44AE and 44AF\nwhich could be applied and the same obviously do not apply to the income\nof the non-resident companies

ACIT, CHENNAI vs. TAMIL NADU NEWSPRINT & PAPERS LTD., CHENNAI

In the result, the appeals filed by the Revenue in ITA

Bench: Shri Mahavir Singhand Shri Manjunatha.G

Section 43A is not applicable in this case. 17. Brief facts are that assessee filed its return of income for the relevant assessment year 2009-10 on 29.09.2009 and assessment was completed u/s.143(3) of the Act by the AO vide order dated 31.12.2011 after making some additions. Subsequently, the PCIT issued show-cause notice u/s.263 of the Act dated

TAMILNADU NEWSPRINT AND PAPERS LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by the Revenue in ITA

Bench: Shri Mahavir Singhand Shri Manjunatha.G

Section 43A is not applicable in this case. 17. Brief facts are that assessee filed its return of income for the relevant assessment year 2009-10 on 29.09.2009 and assessment was completed u/s.143(3) of the Act by the AO vide order dated 31.12.2011 after making some additions. Subsequently, the PCIT issued show-cause notice u/s.263 of the Act dated

TAMILNADU NEWSPRINT AND PAPERS LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by the Revenue in ITA

Bench: Shri Mahavir Singhand Shri Manjunatha.G

Section 43A is not applicable in this case. 17. Brief facts are that assessee filed its return of income for the relevant assessment year 2009-10 on 29.09.2009 and assessment was completed u/s.143(3) of the Act by the AO vide order dated 31.12.2011 after making some additions. Subsequently, the PCIT issued show-cause notice u/s.263 of the Act dated

SUNDARAM FASTENERS LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 6(2), CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.3236/Chny/2017 िनधा"रण वष"/Assessment Year: 2013-14 V. M/S.Sundram Fasteners Ltd., The Dcit, 98-A, 7Th Floor, Corporate Circle-6(2), Dr.Radhakrishnan Salai, Chennai. Mylapore, Chennai-600 004. [Pan: Aaacs 8779 D] (अपीलाथ"/Appellant) (""यथ"/Respondent)

capital in nature. 2.1 The Commissioner of Income tax (Appeals) ought to have appreciated that the borrowings were for the purpose of business and hence cost relating thereof is an allowable deduction. 2.2 The Commissioner of Income tax (Appeals) ought to have appreciated that only in respect of transactions to which Section 43A applies, foreign exchange loss or gains

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

capital account transactions not 16,61,77,507/- covered under the provisions of Section 43A of the Act and of monetary items, the exchange loss and gains

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

capital account transactions not 16,61,77,507/- covered under the provisions of Section 43A of the Act and of monetary items, the exchange loss and gains

M/S ABAN OFFSHORE LIMITED,CHENNAI vs. DCIT,CORPORATE CIRCLE, 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

capital account transactions not 16,61,77,507/- covered under the provisions of Section 43A of the Act and of monetary items, the exchange loss and gains

M/S. ABAN OFFSHORE LIMITED,CHENNAI vs. DCITCORPORATE CIRCLE1(1), 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

capital account transactions not 16,61,77,507/- covered under the provisions of Section 43A of the Act and of monetary items, the exchange loss and gains

ILJIN AUTOMOTIVE PRIVATE LIMITED,KANCHIPURAM vs. DCIT CORPORATE CIRCLE 2(2), CHENNAI

The appeal stand partly allowed in terms of our above order

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.1834/Chny/2017 (िनधा)रणवष) / Assessment Year: 2013-14) M/S. Iljin Automotive Private Limited Dcit बनाम/ Plot No.B1 & B2, Sipcot Industrial Park Corporate Circle-2(2), Irungattukottai, Sriperumbudur Chennai. Vs. Kanchipuram-602 105. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aaaci-2641-E (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Sandeep Bagmar (Advocate) - Ld. Ar " थ"कीओरसे/Respondent By : Shri A. Sasikumar (Cit) - Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 19-11-2024 घोषणाकीतारीख /Date Of Pronouncement : 03-12-2024 आदेश / O R D E R

capital in nature. 4.2 Failed to appreciate that the aforesaid total forex loss includes INR 109,085,767 pertaining to buyer's credit which is revenue in nature. 4.3 Erred in computing the total unrealized loss on buyer's credit amounting to INR 16,435,794 disregarding the fact that the Appellant had earned an unrealized profit

INDIAN BANK,CHENNAI vs. DCIT CORP CIRCLE 1(1), DCIT CORP CIRCLE 1(1)

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes and the appeal filed by the Revenue is allowed

capital as\nreferred to which the Sri Lanka tax is computed.\n6.\nThe AO noted that the issue as to whether credit method or\nexemption method shall apply in the case of a resident Indian, where he\nhas an permanent establishment outside India also in respect of its\nbusiness has been decided by the jurisdictional ITAT in the case

THE INDIA CEMENTS LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(1), CHENNAI

The appeal of the assessee is allowed

Bench: Shri George George Kand Ms. Padmavathy.Sआयकर अपील सं./Ita No.2663/Chny/2025 धििाजरण वर्ज /Assessment Year: 2021-22

gains of an eligible undertakings. The Hon’ble Gujarat High Court has categorically admitted that the The India Cements Ltd. :- 7 -: deduction u/s.80IA is permissible for captive consumption and even the rate at which the deduction is to be computed. Consequently, the issue is held in favour of the assessee and against the Revenue.” 18.6 In the present case

M/S CARBORUNDUM UNIVERSAL LIMITED,CHENNAI vs. DCIT,LTU-1, CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No. 757/Chny/2023 िनधा"रण वष"/Assessment Year: 2011-12 M/S. Carborundum Universal Limited, Vs. The Deputy Commissioner Of No. 43, Vi Floor, Parry House, Moore Income Tax, Street, Chennai G.P.O. Parrys, Ltu-1, Chennai, Chennai 600 001. Nfac, New Delhi. [Pan:Aaacc2474P] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Vijayaraghavan, Advocate ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 25.07.2023 घोषणा की तारीख /Date Of Pronouncement : 25.07.2023 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 27.04.2023 For The Assessment Year 2011-12. 2. Brief Facts Of The Case Are That The Assessee Filed Its Return Of Income For The Assessment Year 2011-12 On 30.11.2011 Admitting A Total Income Of ₹.117,65,52,629/-. The Case Was Selected For Scrutiny & Assessment Under Section 143(3) R.W.S. 923Ca Of The Income Tax Act

section 43A of the Act. On this issue excess deduction of ₹.16,29,235/- was claimed. Thus the assessee has taken double advantage of such gain. Further, In the computation statement, the assessee has deducted a sum of ₹.74,86,082/- being “lease payments". Since this is capital

DCIT, MADURAI vs. THE RAMCO CEMENTS LIMITED, RAJAPALAYAM

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

capital and reserves. It could not be said that the borrowed funds were diverted for non- business purposes. Aggrieved, the revenue is in further appeal before us. Since Ld. CIT(A) has rendered factual finding which is uncontroverted, we confirm the same. The corresponding grounds stand disposed-off on the same lines as in AY 2012-13. Department’s Appeal

DCIT, MADURAI vs. THE RAMCO CEMENTS LTD., RAJAPALAYAM

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

capital and reserves. It could not be said that the borrowed funds were diverted for non- business purposes. Aggrieved, the revenue is in further appeal before us. Since Ld. CIT(A) has rendered factual finding which is uncontroverted, we confirm the same. The corresponding grounds stand disposed-off on the same lines as in AY 2012-13. Department’s Appeal

THE RAMCO CEMENTS LTD. ,RAJAPALAYAM vs. ACIT CORPORATE CIRCLE 2 , MADURAI

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

capital and reserves. It could not be said that the borrowed funds were diverted for non- business purposes. Aggrieved, the revenue is in further appeal before us. Since Ld. CIT(A) has rendered factual finding which is uncontroverted, we confirm the same. The corresponding grounds stand disposed-off on the same lines as in AY 2012-13. Department’s Appeal

ACIT CORPORATE CIRCLE 2, MADURAI vs. THE RAMCO CEMENTS LIMITED, CHENNAI

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

capital and reserves. It could not be said that the borrowed funds were diverted for non- business purposes. Aggrieved, the revenue is in further appeal before us. Since Ld. CIT(A) has rendered factual finding which is uncontroverted, we confirm the same. The corresponding grounds stand disposed-off on the same lines as in AY 2012-13. Department’s Appeal

THE RAMCO CEMENTS LIMITED,CHENNAI vs. DCIT, MADURAI

The appeals of the revenue stand dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.957/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 2. आयकरअपील सं./ Ita No.958/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 3. आयकरअपील सं./ Ita No.2196/Chny/2019 (िनधा;रण वष; / Assessment Year: 2014-15) The Ramco Cements Limited Dcit बनाम (Formerly Known As Madras Cements Ltd) Corporate Circle -2, Ramamandiram, / Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपील सं./ Ita No.1274/Chny/2016 (िनधा;रण वष; / Assessment Year: 2010-11) & 5. आयकरअपील सं./ Ita No.1363/Chny/2016 (िनधा;रण वष; / Assessment Year: 2012-13) & 6. आयकरअपील सं./ Ita No.1897/Chny/2017 (िनधा;रणवष; / Assessment Year: 2013-14) Dcit The Ramco Cements Limited बनाम/ Corporate Circle -2, (Formerly Known As Madras Cements Ltd) Ramamandiram, Vs. Madurai. Rajapalayam-626 117. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcm-8375-L (अपीलाथ"/Appellant) : (" थ" / Respondent)

capital and reserves. It could not be said that the borrowed funds were diverted for non- business purposes. Aggrieved, the revenue is in further appeal before us. Since Ld. CIT(A) has rendered factual finding which is uncontroverted, we confirm the same. The corresponding grounds stand disposed-off on the same lines as in AY 2012-13. Department’s Appeal