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

SPL SHELTERS PVT. LTD.,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

Bench: Shri George George K & Ms Padmavathy S, Am

section 56(2)(x).” 9. From the perusal of the AO's finding with regard to the impugned transaction of acquisition of the property by the assessee. We notice that the AO has questioned the logic behind the seller bearing the stamp duty and registration charges and that it is done for inter-commercial expediency and a self-serving interest

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. SPL SHELTERS PRIVATE LIMITED, CHENNAI

Bench: Shri George George K & Ms Padmavathy S, Am

section 56(2)(x).” 9. From the perusal of the AO's finding with regard to the impugned transaction of acquisition of the property by the assessee. We notice that the AO has questioned the logic behind the seller bearing the stamp duty and registration charges and that it is done for inter-commercial expediency and a self-serving interest

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. SHRIPROP PROPERTIES PRIVATE LIMITED, BANGALORE

Bench: Shri George George K & Ms Padmavathy S, Am

section 56(2)(x).” 9. From the perusal of the AO's finding with regard to the impugned transaction of acquisition of the property by the assessee. We notice that the AO has questioned the logic behind the seller bearing the stamp duty and registration charges and that it is done for inter-commercial expediency and a self-serving interest

SHRIPROP PROPERTIES PVT. LTD.,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

Accordingly.\n15. In result, appeal of both the assessees in ITA No. 1172 & 1173/Chny/2025\nare allowed and the appeal of the revenue in ITA No

section 56(2)(x).\"\n9. From the perusal of the AO's finding with regard to the impugned transaction\nof acquisition of the property by the assessee. We notice that the AO has questioned\nthe logic behind the seller bearing the stamp duty and registration charges and that it\nis done for inter-commercial expediency and a self-serving interest

ASIRVAD MICRO FINANCE LIMITED,ANNA SALAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -1(1), CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1140/Chny/2025 Assessment Years: 2016-17 Asirvad Micro Finance Limited, Assistant Commissioner Of No.9, 9Th Floor, Club House Road, Income Tax, Annasalai, Corporate Circle-1(1), Chennai-600 002 Chennai. [Pan: Aagca5275J] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr.P.R.Prasanna Varma, Fca & Mr.Arjun Rajagopalan, C.A. प्रत्यर्थी की ओर से /Revenue By : Mr.Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 25.09.2025 घोषणा की तारीख /Date Of Pronouncement : 05.12.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

capital of such subsidiary company has been held by the parent company or by its nominees throughout the previous year.]….” “…Section 56(2)(viib) 56. Income from other sources. (1) Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head "Income from other sources

VAIDYANATHAN KALAIVANI,CHENNAI vs. PCIT, CHENNAI

Appeal of the assessee stands dismissed

x) of the Income-tax Act, 1961 from AY 2019-20 irrespective\nof the fact whether the receipt is capital or revenue. The assessee has failed to\ntake this into account in her replies."The faceless Assessing Officer and the\nreview unit have failed to look into the provisions of Section 56(2)(xi) read with\nsection 2(24)(xviib

GATEWAY OFFICE PARKS PRIOVATE LIMITEDI,CHENNAI vs. ACIT, CORPORATE CICLE-6(1), CHENNAI

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

x (PV)\nwhere,\nPage - 5 - of 14\nITA No.617/Chny/2024\nA=book value of the assets in the balance-sheet as reduced by any amount of tax\npaid as deduction or collection at source or as advance tax payment as reduced by\nthe amount of tax claimed as refund under the Income-tax Act and any amount shown\nin the balance

GEENA GARMENTS,TIRUPPUR vs. ACIT, CIRCLE-1, TIRUPPUR, TIRUPPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

X vide notification dated 31.03.2015 after wide public consultations. He argued that in order avoid future litigation and controversy in this matter, the definition of income under sub-section (24) of section 2 of the Act has been amended so as to provide that the income shall include assistance in the form of a subsidy or grant or cash incentive

DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE-1, TIRUPPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING P LTD, TIRUPPUR,TAMILNADU

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

X vide notification dated 31.03.2015 after wide public consultations. He argued that in order avoid future litigation and controversy in this matter, the definition of income under sub-section (24) of section 2 of the Act has been amended so as to provide that the income shall include assistance in the form of a subsidy or grant or cash incentive

ACIT, CIRCLE-1, , TIRUPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING (P) LTD., TIRUPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

X vide notification dated 31.03.2015 after wide public consultations. He argued that in order avoid future litigation and controversy in this matter, the definition of income under sub-section (24) of section 2 of the Act has been amended so as to provide that the income shall include assistance in the form of a subsidy or grant or cash incentive

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

Section 56(2)(x) of the Act of a particular sum [for AY 2017-18 & AY 2018-19], without having received or accrued or earned by the appellant is against the provisions of the Act and Article 265 of the Constitution which states that -'no tax shall be levied or collected except by the authority

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

Section 56(2)(x) of the Act of a particular sum [for AY 2017-18 & AY 2018-19], without having received or accrued or earned by the appellant is against the provisions of the Act and Article 265 of the Constitution which states that -'no tax shall be levied or collected except by the authority

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

Section 56(2)(x) of the Act of a particular sum [for AY 2017-18 & AY 2018-19], without having received or accrued or earned by the appellant is against the provisions of the Act and Article 265 of the Constitution which states that -'no tax shall be levied or collected except by the authority

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

Section 56(2)(x) of the Act of a particular sum [for AY 2017-18 & AY 2018-19], without having received or accrued or earned by the appellant is against the provisions of the Act and Article 265 of the Constitution which states that -'no tax shall be levied or collected except by the authority

KM KNIT WEAR,TIRUPUR vs. ADIT,CPC, BANGALORE

In the result, ITA Nos. 3326/Chny/2019, 326/Chny/2024 &\n768/Chny/2022 are dismissed; ITA No

X vide notification dated 31.03.2015\nafter wide public consultations. He argued that in order avoid future\nlitigation and controversy in this matter, the definition of income under\nsub-section (24) of section 2 of the Act has been amended so as to\nprovide that the income shall include assistance in the form of a subsidy\nor grant or cash incentive

VICTUS DYEINGS ,TIRUPUR vs. ACIT , CIRCLE-1, TIRUPUR

X vide notification dated 31.03.2015\nafter wide public consultations. He argued that in order avoid future\nlitigation and controversy in this matter, the definition of income under\nsub-section (24) of section 2 of the Act has been amended so as to\nprovide that the income shall include assistance in the form of a subsidy\nor grant or cash incentive

GATES WEARS,TIRUPPUR vs. DCIT CIRCLE 1, TIRUPPUR

In the result, ITA Nos. 3326/Chny/2019, 326/Chny/2024 &\n768/Chny/2022 are dismissed; ITA No

X vide notification dated 31.03.2015\nafter wide public consultations. He argued that in order avoid future\nlitigation and controversy in this matter, the definition of income under\nsub-section (24) of section 2 of the Act has been amended so as to\nprovide that the income shall include assistance in the form of a subsidy\nor grant or cash incentive

SAN TEX INC.,TIRUPUR vs. ACIT CIRCLE 1, TIRUPUR

X vide notification dated 31.03.2015\nafter wide public consultations. He argued that in order avoid future\nlitigation and controversy in this matter, the definition of income under\nsub-section (24) of section 2 of the Act has been amended so as to\nprovide that the income shall include assistance in the form of a subsidy\nor grant or cash incentive