SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

section 2(14) of come Tax Act, is not admissible. 73. Heard both the parties and perused the material available on record. We note that the assessee placed on the record two sale deeds both dated 21.09.2006 which are at page 12 and 24 of the paper book, 40 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 wherein, the assessee sold

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

section 2(14) of come Tax Act, is not admissible. 73. Heard both the parties and perused the material available on record. We note that the assessee placed on the record two sale deeds both dated 21.09.2006 which are at page 12 and 24 of the paper book, 40 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 wherein, the assessee sold

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

section 2(14) of come Tax Act, is not admissible. 73. Heard both the parties and perused the material available on record. We note that the assessee placed on the record two sale deeds both dated 21.09.2006 which are at page 12 and 24 of the paper book, 40 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 wherein, the assessee sold

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

section 2(14) of come Tax Act, is not admissible. 73. Heard both the parties and perused the material available on record. We note that the assessee placed on the record two sale deeds both dated 21.09.2006 which are at page 12 and 24 of the paper book, 40 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 wherein, the assessee sold

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LTD.,CHENNAI vs. ACIT, LARGE TAXPAYER UNIT-1, CHENNAI

Bench: Shri Mahavir Singh, Hon’Ble & Shrimanjunatha.G, Hon’Bleआयकरअपीलसं./Ita No.269/Chny/2022 िनधा"रणवष"/Assessment Year: 2017-18 V. M/S.Cognizant Technology- The Asst. Commissioner- Solutions India Pvt. Ltd., Of Income Tax, 5/535, Okkiam, Thoriapakkam, Large Taxpayer Unit-1, Old Mahabalipuram Road, Chennai. Chennai-600 096. [Pan:Aaacd 3312 M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Ajay Vohra, Sr.Counsel For Shri N.V. Balaji, Adv. ""यथ" क" ओर से /Respondent By : Shri R.Shankaranarayanan, Additional Solicitor – General Of India For Shri A.P.Srinivas, Sr. Standing Counsel : सुनवाईक"तारीख/Date Of Hearing 03.07.2023 घोषणाक"तारीख /Date Of Pronouncement : 13.09.2023

section 115-O of the Act and the consequent demand raised by the learned AO are in contravention to the provisions of the Double Taxation Avoidance Agreement ('DTAA') entered by India with USA and Mauritius and the principles laid down by the Hon'ble Supreme Court in UOI vs Azadi Bachao Andolan [2003] 263 ITR 706 (SC). 12. Without prejudice

INCOME TAX OFFICER- WARD-1/JAO, NAGERCOIL vs. ARULANANDHAM BER SYRIL ANTOW, NAGERCOIL

In the result the appeal filed by the Revenue is dismissed

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

gains tax under section 45 of the Act. Section 2(14)(iii) of the Act specifically excludes agricultural land in India from the definition of “capital asset”, except where such land is situated; 1. Within the jurisdiction of a municipality or municipal corporation having population exceeding the prescribed limits; or 2. Within the prescribed aerial distance from such municipal limits

ACIT CORPORATE CIRCLE 4(1), CHENNAI vs. MANGAL TIRTH ESTATE LTD., CHENNAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.: 1965/Chny/2018 िनधा"रण वष" / Assessment Year: 2014-15 Assistant Commissioner Of M/S. Mangal Tirth Estate Ltd., Income-Tax, V. No. 769, Spencer Plaza, Corporate Circle-4(1), Anna Salai, Chennai – 600 002. Chennai. [Pan: Aaacm-4614-R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. P. Sajit Kumar, Jcit ""यथ" क" ओर से/Respondent By : Shri. N.V. Balaji, Advocate सुनवाई क" तारीख/Date Of Hearing : 29.11.2022 घोषणा क" तारीख/Date Of Pronouncement : 31.01.2023

section 50C of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) and adopted deemed consideration for computation of long term capital gains. The relevant findings of the AO are as under: From the above noting the following points emerged : 1. As on 31.03.1999, Out of 1,50,000 sq.ft. the assessee company had handed over

TOTAL SECURITIES LTD,MUMBAI vs. DCIT 4(2), MUMBAI

Appeal stand allowed

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1738/Chny/2019 (िनधा1रण वष1 / Assessment Year: 2009-10) M/S. Total Securities Ltd. Acit बनाम/ Eden Garden, First Floor; Corporate Circle-3(1), Opp.To Mca Club, Near Pizza Hut Chennai. Vs. Kandivali, West Mumbai-400 067. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabct-1302-N (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Thulasiram (Advocate) Ld. Ar " थ"कीओरसे/Respondent By : Shri Ar.V.Sreenivasan (Addl Cit) Ld. Sr. Dr सुनवाईकीतारीख/Date Of Hearing : 16-05-2023 घोषणाकीतारीख/Date Of Pronouncement : 07-06-2023 आदेश / O R D E R

capital gains and income from other sources or a company the principal business of which is the business of banking or the granting of loans and advances will not be covered within the purview of Section 73

SMT. JAYANTHI SEEMAN,,CHENNAI vs. ITO, NCW - 1 (2),, CHENNAI

In the result the appeal of the assessee is partly allowed

73,600/- (being 50% of\nthe assessee share). Subsequently, the said gain was reinvested in\na new property and the assessee claimed exemption u/s.54 of IT\nAct.\nWhereas, the AO based on the sworn statement recorded from\nMr.P.Seeman dated 25/08/2014 adopted sale consideration as\nRs.5,20,00,000/- and computed capital gains as under:\nSale\nLess: Cost of property+ stampduty

SMT. JAYANTHI SEEMAN,,CHENNAI vs. ITO, NCW - 1 (2),, CHENNAI

In the result the appeal of the assessee is partly allowed

73,600/- (being 50% of\nthe assessee share). Subsequently, the said gain was reinvested in\na new property and the assessee claimed exemption u/s.54 of IT\nAct.\nWhereas, the AO based on the sworn statement recorded from\nMr.P.Seeman dated 25/08/2014 adopted sale consideration as\nRs.5,20,00,000/- and computed capital gains as under:\nSale\nLess: Cost of property+ stampduty

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. BUHARI HOLDINGS PRIVAE LIMITED, CHENNAI

Appeal of the assessee is allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.325/Chny/2024 (िनधा"रणवष" / Assessment Year: 2010-2011) The Assistant Commissioner Of Vs. M/S. Buhari Holdings Pvt. Ltd, Income Tax, No.4, Buhari Towers, Corporate Circle 1(2) Moores Road, Chennai. Chennai 600 006. [Pan Aaacb 2679M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. G. Baskar, Advocate ""यथ" क" ओर से /Respondent By : Shri Arv Srinivasan, Irs, Addl Cit. सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 29.08.2024 आदेश / O R D E R Per Manu Kumar Giri ()

section 28țiv) in clearly attracted in the assesser's case 4 For these grounds and any other ground including amendment of grounds that may be caused during the course of the appeal proceedings, the order of ld. CIT(A) thus sue may be set aside and the addition made by the Assessing Officer be restored’’. 03. Brief case

D.RAMGOPAL,COIMBATORE vs. DCIT, CENTRAL CIRCLE-1(1), COIMBATORE

In the result the appeal of the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 583 /Chny/2022 िनधा"रणवष" / Assessment Year: 2013-14 Deputy Commissioner Of Income Shri. D. Ramagopal, V. Tax, 14-A, 10Th Street, Central Circle -1, Ganapathypudur, Coimbatore. Ganapathy, Coimbatore – 641 006. [Pan: Akgpr-3621-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 584/Chny/2022 िनधा"रणवष" / Assessment Year: 2014-15 Principal Commissioner Of Shri. D. Ramagopal, V. Income Tax, 14-A, 10Th Street, Central Circle -2, Ganapathypudur, Chennai. Ganapathy, Coimbatore – 641 006. [Pan: Akgpr-3621-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. G.V. Jhabakh, Advocate ""यथ"क"ओरसे/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 06.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 23.10.2024 आदेश /O R D E R

capital gain from the sale consideration of immovable properties and direct the AO to recompute the LTCG accordingly. 11. In the result the appeal of the assessee is partly allowed. ITA No.: 584/Chny/2022 FOR A.Y. 2014-15: 12. After the search proceedings u/s.132 of the Act conducted on 27.11.2013, many statutory notices were issued to assessee to file the return

D.RAMGOPAL,COIMBATORE vs. DCIT, CENTRAL CIRCLE-1(1), COIMBATORE

In the result the appeal of the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 583 /Chny/2022 िनधा"रणवष" / Assessment Year: 2013-14 Deputy Commissioner Of Income Shri. D. Ramagopal, V. Tax, 14-A, 10Th Street, Central Circle -1, Ganapathypudur, Coimbatore. Ganapathy, Coimbatore – 641 006. [Pan: Akgpr-3621-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 584/Chny/2022 िनधा"रणवष" / Assessment Year: 2014-15 Principal Commissioner Of Shri. D. Ramagopal, V. Income Tax, 14-A, 10Th Street, Central Circle -2, Ganapathypudur, Chennai. Ganapathy, Coimbatore – 641 006. [Pan: Akgpr-3621-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. G.V. Jhabakh, Advocate ""यथ"क"ओरसे/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 06.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 23.10.2024 आदेश /O R D E R

capital gain from the sale consideration of immovable properties and direct the AO to recompute the LTCG accordingly. 11. In the result the appeal of the assessee is partly allowed. ITA No.: 584/Chny/2022 FOR A.Y. 2014-15: 12. After the search proceedings u/s.132 of the Act conducted on 27.11.2013, many statutory notices were issued to assessee to file the return

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. M. MAHADEVAN, CHENNAI

In the result, the appeals of the Revenue are decided as under:-

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1824/Chny/2024, Assessment Years: 2013-14 आयकर अपील सं./Ita No.1825/Chny/2024, Assessment Years: 2014-15 आयकर अपील सं./Ita No.1826/Chny/2024, Assessment Years: 2019-20

capital loss made by AO. 4.1 The first issue raised by the appellant Revenue for AY’s 2013- 14, 2014-15 & 2019-20, vide ITA Nos. 1824, 1825 and 1826 through its grounds of appeal is regarding the action of the Ld.First Appellate Page - 18 - of 49 ITA Nos.1824, 1825 & 1826/Chny/2024 Authority in rejecting the action

DEPUTY COMMISSIONER OF INOCME TAX, CENTRAL CIRCLE - 1(3), CHENNAI vs. M. MAHADEVAN , CHENNAI

In the result, the appeals of the Revenue are decided as under:-

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1824/Chny/2024, Assessment Years: 2013-14 आयकर अपील सं./Ita No.1825/Chny/2024, Assessment Years: 2014-15 आयकर अपील सं./Ita No.1826/Chny/2024, Assessment Years: 2019-20

capital loss made by AO. 4.1 The first issue raised by the appellant Revenue for AY’s 2013- 14, 2014-15 & 2019-20, vide ITA Nos. 1824, 1825 and 1826 through its grounds of appeal is regarding the action of the Ld.First Appellate Page - 18 - of 49 ITA Nos.1824, 1825 & 1826/Chny/2024 Authority in rejecting the action

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

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

Capital gains\") for—\n(i) the transfer of all or any rights (including the granting of a licence)\nin respect of a patent, invention, model, design, secret formula or\nprocess or trade mark or similar property ;\n(ii) the imparting of any information concerning the working of, or the\nuse of, a patent, invention, model, design, secret formula or process

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 153C of the Act, as was originally introduced by the Finance Act 2003, which prescribed a stronger safeguard for persons who had not been searched viz., the seized material forming the basis of the satisfaction note must ‘belong’ to the ‘other person’. It was judicially held that, where any seized document of the searched person simply ‘pertains

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 153C of the Act, as was originally introduced by the Finance Act 2003, which prescribed a stronger safeguard for persons who had not been searched viz., the seized material forming the basis of the satisfaction note must ‘belong’ to the ‘other person’. It was judicially held that, where any seized document of the searched person simply ‘pertains