ADHI KUMARA GURU,CHENNAI vs. DCIT, NCC-22(1), CHENNAI

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

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri Amitabh Shuklaमाननीय "ी मनु कुमार िग"र, "ाियक सद" एवं माननीय "ी अिमताभ शु"ा, लेखा सद" के सम"

section 147 of the Income Tax Act, 1961 [‘ACT’ in short] [‘ACT’ in short], for the Assessment Year 2014 Assessment Year 2014-15, was confirmed. 2. Briefly stated, the stated, the assessee is an individual who filed his Return is an individual who filed his Return of Income for the relevant assessment year on 19.02.2015. During of Income

GOKULAKRISHNA,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE 8(1), CHENNAI

In the result, the appeal filed by the assessee is allowed and the stay\napplication is dismissed

Sections 45(1), (3)\nand (4), of the Income Tax Act which reads as under:\n\"45. [(1)] Any profits or gains arising from the transfer of a capital\nasset effected in the previous year shall, save as otherwise provided in\nsections [***] [54, [54B, [***], [54D, [54E, [54EA, 54EB,] 54F [, 54G

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. MANIKANDAN, CHENNAI

The appeal of the Revenue is dismissed

gains arising from the transfer of a capital\nasset effected in the previous year shall, save as otherwise\nprovided in sections [***] [54, [54B, [***], [54D, [54E, [54EA,\n54EB,] 54F [, 54G

PENUPETRUNI CHINNA RAO,CHENNAI vs. ITO, INTERNATIONAL TAXATION, WARD-1(1), CHENNAI

In the result, the appeal stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.401/Chny/2022 (िनधा*रण वष* / Assessment Year: 2016-17) Mr. Penupatruni Chinna Rao Ito बनाम 8, Pughs Road, Sundaram Salai, International Taxation, / Vs. R.A. Puram, Chennai-600 028. Ward-1(1), Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aecpc-1481-R (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Ms. N.V. Lakshmi (Advocate) - Ld. Ar " थ"कीओरसे/Respondent By : Shri D. Hema Bhupal (Jcit)- Ld. Sr. Dr सुनवाईकीतारीख/Date Of Final Hearing : 04-03-2024 घोषणाकीतारीख /Date Of Pronouncement : 25-04-2024 आदेश / O R D E R

capital gain in the impugned AY. F. The learned CIT(A) should have gone by the departmental principle declared in CBDT Circular No.14(XL-35) of 1955 dated 11.04.1955 that Officers of the department must not take advantage of ignorance of an assessee as to be rights. G. Without prejudice, the learned CIT(A) ought to have noted that going

DCIT NON CORPORATE CIRCLE 9(1) , CHENNAI vs. ANIL SHETH , CHENNAI

In the result, the appeal of the Revenue is allowed for 8

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. No. 1705/Chny/2017 "नधा"रण वष" /Assessment Year : 2009-2010. The Deputy Commissioner Of Vs. Shri. Anil Sheth, Income Tax, Prop. M/S. Prince Marbles, Non Corporate Circle 9(1) No.34, Langs Garden Road, Chennai. Pudupet, Chennai 600 002. [Pan Addpa 3880A ] (अपीलाथ"/Appellant) (""यथ"/Respondent)

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G

ACIT, MADURAI vs. M/S. STANDARD FIREWORKS PVT. LTD., SIVAKASI

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

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. No. 2654/Chny/2019 िनधा"रण वष"/Assessment Year:2014-15 The Deputy Commissioner Of M/S. Standard Fireworks (P) Ltd., Income Tax, Central Circle 2, Vs. No. 1/3, Thiruthangal Road, Madurai. Sivakasi 626 123. [Pan:Aaccs1480M] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Ms. R. Anita, Jcit ""थ" की ओर से/Respondent By : Shri Arjunraj, Ca For Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 31.03.2021 घोषणा की तारीख /Date Of Pronouncement : 09.04.2021 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 19, Chennai, Dated 27.06.2019 Relevant To The Assessment Year 2014-15 Passed Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short]. In The Grounds Of Appeal, The Revenue Has Raised The Following Grounds: “1. The Order Of The Learned Commissioner Of Income Tax (Appeals) Is Erroneous On Facts Of The Case & In Law. 2. The Ld. Cit(A) Failed To Note That The Assessee Had Only Shifted A Part Of The Industrial Undertaking & Not As Whole.

capital gains as per the provisions of section 54G of the Act. 5. Against the penalty order under section 271(1)(c) of the Act, the assessee

ANTHIAH PANCRAS,TIRUVANNAMALAI vs. ITO WARD 1, THIRUVANNAMALAI

In the result, the appeal filed by the assessee for ay: 2008-09 shall

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G

ANTHIAH PANCRAS,TIRUVANNAMALAI vs. ITO WARD 1, THIRUVANNAMALAI

In the result, the appeal filed by the assessee for ay: 2008-09 shall

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G

IRIS ENGINEERING INDUSTRIES P LTD.,CHENNAI vs. ACIT, COIMBATORE

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No. 1437/Chny/2017 िनधा"रण वष"/Assessment Year:2012-13 M/S. Iris Engineering Industries Pvt. The Assistant Commissioner Of Ltd., (Now Known As M/S. Ravilla Vs. Income Tax, Corporate Circle 2, Aerospace Industries P. Ltd.), No. 178, Coimbatore. Aerodrome Road, Singanallur, Coimbatore 641 005. [Pan:Aaaci8996G] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sridhar, Advocate ""थ" की ओर से/Respondent By : Dr. S. Palani Kumar, Cit सुनवाई की तारीख/ Date Of Hearing : 21.03.2022 घोषणा की तारीख /Date Of Pronouncement : 08.06.2022 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) 1, Coimbatore Dated 31.03.2017 Relevant To The Assessment Year 2012-13 In Confirming The Levy Of Penalty Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

capital gains of ₹. 98,92,494/- after claiming the exemption under section 54G (investment in land). The Assessing Officer allowed

MURALI KRISHNA YENUGULA,CHENNAI vs. ITO, NCW-22(1), TAMBARAM

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Gain’ because the consideration received was not for transfer of a capital asset held by the assessee; and therefore, according to him, it is assessable as ‘income from other source’ and consequently rejected the deduction claimed u/s.54 of the Act, and added Rs.1.45 Crs. as ‘income from other source’. Aggrieved by the order passed by the AO, the assessee preferred

IRIS ENGINEERING INDUSTRIES P. LTD.,COIMBATORE vs. DCIT CORPORATE CIRCLE 2, COIMBATORE

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.1837/Chny/2018 िनधा"रण वष"/Assessment Year: 2012-13 M/S. Iris Engineering Industries Pvt. Vs. The Deputy Commissioner Of Ltd., (Now Amalgamated With M/S. Income Tax, Ravilla Aerospace Industries P. Ltd.), Corporate Circle 2, No. 48, Aerodrome Road, Singanallur, Coimbatore. Coimbatore 641 005 [Pan:Aaaci8996G] (अपीलाथ'/Appellant) (()थ'/Respondent) अपीलाथ' की ओर से / Appellant By : Shri T. Banusekar, C.A. ()थ' की ओर से/Respondent By : Dr. S. Palani Kumar, Cit सुनवाई की तारीख/ Date Of Hearing : 21.03.2022 घोषणा की तारीख /Date Of Pronouncement : 13.05.2022 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Principal Commissioner Of Income Tax-1, Coimbatore Dated 27.03.2018 Relevant To The Assessment Year 2012-13 Passed Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

capital gain 8,50,92,494 : ₹. Less: Exemption u/s 54G 7,52,00,000 [Investment in land] : ₹. Balance LTCG 98,92,494 2.2 Before the Assessing Officer, in support of the claim of exemption under section

ELANGO ENGINEERING PVT. LTD.,COIMBATORE vs. DCIT, CORPORATE CIRCLE-1,, COIMBATORE

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

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

capital gain at Rs.98,92,494/-. However, the PCIT-1, Coimbatore vide order dated 27.03.2018 u/s.263 of the Act upon review of the case set aside the assessment order to examine the claim of section 54G