AADARSH SURANA, CHENNAI,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI

capital gains tax under section 45. The Ld. AR further submitted\nthat the provisions of section 50B of the Act relating

PLR TEXTILES LTD.,CHENNAI vs. THE ACIT ,CORPORATE CIRCLE-5(2), CHENNAI

In the result the appeal of the assessee is partly allowed

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकरअपीलसं./Ita No.: 133/Chny/2021 िनधा"रणवष" / Assessment Year: 2005-06 Plr Textiles Ltd., The Acit, 8K, Century Plaza, V. Corporate Circle -5(2), 560-562, Mount Road, Chennai – 641 034. Chennai – 600 018. [Pan: Aaacp-6536-D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ"कीओरसे/Appellant By : Mr. R. Vijayaraghavan, Advocate ""थ"कीओरसे/Respondent By : Ms. Anitha, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 06.02.2025 घोषणा की तारीख/Date Of Pronouncement : 27.03.2025 आदेश /O R D E R Per S. R. Raghunatha: This Appeal By The Assessee Is Filed Against The Order Of The Commissioner Of Income Tax (Appeals)-3, Chennai, Vide Ita No.153/Cit(A)-3/2018-19For The Assessment Year 2005-06, Dated 13.03.2020. 2. At The Outset, We Find That There Is A Delay Of 346 Days In Appeal Filed By The Assessee, For Which Petition For Condonation Of Delay Along With Reasons For Delay Has Been Filed. After Considering The Petition Filed By The Assessee, Reason For Delay In Filing The Appeal Was Due To Covid-19 Pandemic & Also Hearing Both The :-2-:

section 234A, 234B and 234C are charged as per law. Demand notice u/s 156 is enclosed. 7. Aggrieved by the order of the AO, the assessee preferred an appeal before the ld. CIT(A) – 3, Chennai. Before the ld.CIT(A), the assessee filed a detailed written submission in respect of delay in passing the order giving effect

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI vs. AATHMIKA HOLDINGS PVT LTD, CHENNAI

In the result, the appeal of the Revenue stand dismissed and the

Bench: Shri Aby T. Varkey & Shri Jagadish

gainfully refer to the decision of the Special Bench of this Tribunal in the case of DCIT vs Summit Securities Ltd (19 taxmann.com 102) in the context of Section 50B of the Act regarding the computation of capital

M/S. AMBATTUR DEVELOPERS PVT. LTD.,CHENNAI vs. ITO, CORPORATE WARD-1(1), CHENNAI

In the result the appeal of the assessee is allowed

gains by issuing\ncompany in the garb of capital receipts. In the instant case, not only that the\nfair market value is supported by independent valuer report, the allotment\nhas been made to the existing shareholder holding 100% equity and\ntherefore, there is no change in the interest or control over the money by\nsuch issuance of shares. The object

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)

capital gains through slump sale u/s.50(B) of the Act by transferring an undertaking on a slump sale basis to M/s.Netam Sugar Private Limited in terms of the order dated 21.03.2017 of the Hon’ble Supreme Court. As per the report of an accountant in Form No.3CEA under sub section (3) of section 50B

ASHOK LEYLAND LIMITED,,CHENNAI vs. ACIT,, CHENNAI

gain of Rs.90,47,68,333/-.\n9.2\nThe AO in the course of assessment is noted to have taken\ncognizance of the above narrated facts relating to the sale of windmill\ndivision by the assessee. According to the AO, in order to qualify as\n`slump sale' under section 2(42C) of the Act, one of the conditions

ACIT CIRCLE 1 , SALEM vs. M/S AVR SWARNAMAHAL JEWELLERY PRIVATE LIMITED, SALEM

The appeals stand partly allowed for statistical purposes in terms of our above order

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

capital gains will arise. The tax would be deducted at source on difference between the bid price and the redemption price at the time of maturity. The Para-8 of the Circular provides that the difference between the bid price of a deep discount bonds and its redemption price which is actually paid the time of maturity, will continue

ACIT CIRCLE 1 , SALEM vs. M/S AVR SWARNAMAHAL JEWELLERY PRIVATE LIMITED, SALEM

The appeals stand partly allowed for statistical purposes in terms of our above order

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

capital gains will arise. The tax would be deducted at source on difference between the bid price and the redemption price at the time of maturity. The Para-8 of the Circular provides that the difference between the bid price of a deep discount bonds and its redemption price which is actually paid the time of maturity, will continue

ACIT CIRCLE 1 , SALEM vs. M/S AVR SWARNAMAHAL JEWELLERY PRIVATE LIMITED, SALEM

The appeals stand partly allowed for statistical purposes in terms of our above order

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

capital gains will arise. The tax would be deducted at source on difference between the bid price and the redemption price at the time of maturity. The Para-8 of the Circular provides that the difference between the bid price of a deep discount bonds and its redemption price which is actually paid the time of maturity, will continue

M.CT.M. CORPORATION ,CHENNAI vs. DCIT, CORPORATE CIRCLE-4(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.597/Chny/2023 िनधा"रण वष"/Assessment Year: 2000-01 M. Ct. M. Corporation Private Limited, Vs. The Deputy Commissioner Of [Now Dissolved As M. Ct. M. Global Income Tax, Investments P. Ltd. & Sivagami Corporate Circle 4(1), Holdings (P) Ltd., 761, Anna Salai, Chennai 600 034. Chennai 600 002. [Pan:Aaacm4530C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri G. Sitharaman, Ca ""थ" की ओर से/Respondent By : Shri Nilay Baran Som, Cit सुनवाई की तारीख/ Date Of Hearing : 20.11.2023 घोषणा की तारीख /Date Of Pronouncement : 29.11.2023 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 14.03.2023 Relevant To The Assessment Year 2000-01. 2. The Assessing Officer Has Completed The Assessment Under Section 143(3) R.W.S. 147 Of The Income Tax Act, 1961 [“Act” In Short] Dated 29.09.2021 Assessing Short Term Capital Gains Income Of The 2

capital gains income of the 2 I.T.A. No. 597/Chny/23 assessee at ₹.89,05,28,253/- under section 50B of the Act, against