DCIT, CORPORATE CIRCLE,, MADURAI vs. M/S. SUSEE AUTOMOTIVE PVT. LTD.,, MADURAI

In the result, both the appeals filed by the assessee and the Revenue are dismissed

Bench: Shri Mahavir Singhand Shri Manjunatha. Gआयकर अपील सं./Ita No.784/Chny/2020 िनधा"रण वष" /Assessment Year: 2014-15 M/S. Susee Automotive (P.) Ltd., The Dy. Commissioner Of No.25, Tamilsangam Road, Vs. Income Tax, Madurai – 625 001. Corporate Circle-2, [Pan: Aaocs-8509-H] Madurai. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.832/Chny/2020 िनधा"रण वष" /Assessment Year: 2014-15 The Dy. Commissioner Of M/S. Susee Automotive (P.) Ltd., Income Tax, Vs. No.25, Tamilsangam Road, Corporate Circle-2, Madurai – 625 001. Madurai. [Pan: Aaocs-8509-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Vasudevan, Advocate ""यथ" क" ओर से /Respondent By : Shri S.R. Karuppusamy, Cit सुनवाई क" तारीख/Date Of Hearing : 31.05.2023 घोषणा क" तारीख /Date Of Pronouncement : 31.07.2023

condone the delay and admit the appeals. 3. First we will deal with the Revenue’s appeal in ITA No.832/Chny/2020. The only issue in this appeal of Revenue is as ITA Nos.784 & 832Chny/2020 :- 3 -: regards to the order of CIT(A) in deleting the addition made by A.O holding that the loan received by the assessee-company from the seven

PALLAVA RESORTS PVT. LTD.,,CHENNAI vs. ITO, CORPORATE WARD - 5 (1),, CHENNAI

In the result, the appeal of the Assessee in I

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A No.:700/Chny/2020 िनधा"रण वष"/ Assessment Year 2011 – 2012

condone the delay of 96 days and admit the appeal for adjudication on merits. 3. The Assessee has raised two issues, i.e. (i) challenging the reopening of the assessment u/s.147 r.w.s.148 of the Act vide Ground Nos.2 to 6, as under: “2) He erred in re-opening the assessment of the Appellant u/s.147 of the Act, beyond a period

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

condoning the delay, however, not discussed the issues on merits. The assessee has challenged the order of the ld. CIT(A) before the Tribunal on merits. The sole issue that came up for our consideration from this appeal is additions towards forex loss. Initially, the ld. CIT(A) vide order dated 13.09.2019 set aside the issue of disallowance of forex

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

condoning the delay, however, not discussed the issues on merits. The assessee has challenged the order of the ld. CIT(A) before the Tribunal on merits. The sole issue that came up for our consideration from this appeal is additions towards forex loss. Initially, the ld. CIT(A) vide order dated 13.09.2019 set aside the issue of disallowance of forex

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

condoning the delay, however, not discussed the issues on merits. The assessee has challenged the order of the ld. CIT(A) before the Tribunal on merits. The sole issue that came up for our consideration from this appeal is additions towards forex loss. Initially, the ld. CIT(A) vide order dated 13.09.2019 set aside the issue of disallowance of forex

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

condoning the delay, however, not discussed the issues on merits. The assessee has challenged the order of the ld. CIT(A) before the Tribunal on merits. The sole issue that came up for our consideration from this appeal is additions towards forex loss. Initially, the ld. CIT(A) vide order dated 13.09.2019 set aside the issue of disallowance of forex

SRINIVASA MACHINE WORKS,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeal for the assessment year

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.Nos.1969 & 3434/Chny/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/Chny/2017 (िनधा"रण वष" / Assessment Year: 2013-14) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(4), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Banusekar, Ca ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Jcit

condone the delay. :-4-: ITA Nos. 1969 & 3434/Chny/2016 844/Chny/2017 4. With regard to the taxation of deemed dividend u/s 2(22)(e) for the assessment

SRINIVASA MACHINE WORKS,CHENNAI vs. ITO, CHENNAI

In the result, the assessee’s appeal for the assessment year

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.Nos.1969 & 3434/Chny/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/Chny/2017 (िनधा"रण वष" / Assessment Year: 2013-14) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(4), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Banusekar, Ca ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Jcit

condone the delay. :-4-: ITA Nos. 1969 & 3434/Chny/2016 844/Chny/2017 4. With regard to the taxation of deemed dividend u/s 2(22)(e) for the assessment

SRINIVASA MACHINE WORKS,CHENNAI vs. ITO, CHENNAI

In the result, the assessee’s appeal for the assessment year

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.Nos.1969 & 3434/Chny/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/Chny/2017 (िनधा"रण वष" / Assessment Year: 2013-14) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(4), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Banusekar, Ca ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Jcit

condone the delay. :-4-: ITA Nos. 1969 & 3434/Chny/2016 844/Chny/2017 4. With regard to the taxation of deemed dividend u/s 2(22)(e) for the assessment

ACIT CENTRAL CIRCLE 2, COIMBATORE vs. SHRI. M RAMASAMI, ATTUR

The appeals stand dismissed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

deemed dividend u/s 2(22)(e) for Rs.390 Lacs. 2. The registry has noted a delay of 10 days in both the appeals, the condonation

ACIT CENTRAL CIRCLE 2, COIMBATORE vs. SHRI. M RAMASAMI, ATTUR

The appeals stand dismissed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

deemed dividend u/s 2(22)(e) for Rs.390 Lacs. 2. The registry has noted a delay of 10 days in both the appeals, the condonation

DCIT, CHENNAI vs. SMT. BHAGAVATHY VELAN, CHENNAI

In the result, the appeal of the Revenue is allowed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

delay and the same is condoned. :- 2 -: 2. The assessee filed return of income for the AY 2008-09 and later on the AO issued notice u/s.148 and completed the assessment u/s.147 r/w Sec.143(3) on a total income of Rs.17,26,790/-. During the re- assessment proceedings, the AO found that the assessee is a Director and having more

DCIT, CHENNAI vs. SHRI C. KATHIRVEL, CHENNAI

In the result, the appeal of the Revenue is allowed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.2656/Mds/2016 "नधा"रण वष" /Assessment Year: 2008-09

delay and the same is condoned. :- 2 -: 2. The assessee filed return of income for the AY 2008-09 and later on the AO issued notice u/s.148 and completed the assessment u/s.147 r/w Sec.143(3) on a total income of Rs.19,45,900/-. During the re- assessment proceedings, the AO found that the assessee is a Director and having

SPARK CAPITAL ADVISORS (INDIA) PRIVATE LTD.,CHENNAI vs. ACIT, CHENNAI

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

Bench: Shri A. Mohan Alankamony & Shri V. Durga Raoआयकर अपील सं./Ita No.2623/Mds/2014 Assessment Year : 2010-11 M/S Spark Capital Advisors The Assistant Commissioner Of (India) Private Ltd., Income Tax, No.2, Reflections, V. Company Circle – Vi(4), Leith Castle Center Street, Chennai - 600 034. Santhome High Road, Chennai - 600 028. Pan : Aadcs 0211 P (अपीलाथ"/Appellant) (""यथ"/Respondent)

condone the delay and the appeal filed by the assessee is admitted. 5. Now let’s deal with the merits of the case. The assessee is a company M/s Spark Capital Advisors (India) Private Limited, engaged in the business of investment, banking, portfolio management, corporate finance advisory, securities broking and trading in securities. The assessee filed the return of income

THE ERODE CITY MUNICIPAL CORPORATION EMP CO-OP T& C LIMITED,ERODE vs. ITO, WARD 1(1), ERODE

In the result, the appeal in ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.509 & 510/Chny/2024 (िनधा"रणवष" / Assessment Years: 2018-2019 & 2020-2021)

deem it fit to restore back the appeal to the ld. CIT(A) for denovo adjudication only after receipt of order of CBDT on petition u/s 119(2)(b) dated 26.12.2023 for condonation of delay in filing claim of deduction u/s 80P. The ld.CIT(A) will proceed with the appeal after affording reasonable opportunity of hearing to the assessee. That

THE ERODE CITY MUNICIPAL CORPORATION EMP CO-OP T& C LIMITED,CHENNAI vs. ITO, WARD 1 (1), ERODE

In the result, the appeal in ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.509 & 510/Chny/2024 (िनधा"रणवष" / Assessment Years: 2018-2019 & 2020-2021)

deem it fit to restore back the appeal to the ld. CIT(A) for denovo adjudication only after receipt of order of CBDT on petition u/s 119(2)(b) dated 26.12.2023 for condonation of delay in filing claim of deduction u/s 80P. The ld.CIT(A) will proceed with the appeal after affording reasonable opportunity of hearing to the assessee. That

DCIT CORPORATE CIRCLE 1(2), CHENNAI vs. CONSUL NEOWATT POWER SOLUTION PVT. LTD., CHENNAI

In the result, appeal filed by the revenue and cross

Bench: Shri V. Durga Rao & Shri G. Manjunatha

delay in filing of cross 3 & C.O.No.102/Chny/2018 objection is condoned and cross objection filed by the assessee is admitted for adjudication. 5. The revenue has raised following grounds of appeal:- 1. The order of the learned CIT(A) is contrary to law and facts and circumstances of the case. 2. The learned CIT(A) erred in restricting the disallowance

SHRI PACHAMUTHU RAVI,CHENNAI vs. DCIT, CIRCLE-1(3), CHENNAI

condone the delay and proceed to decide the grounds of appeal raised by the assessee. 3. Brief facts of the case are that the assessee an individual had filed his return of income for the AY 2014-15 on 01.10.2014 admitting total income of Rs.9,87,48,770/-. And the ibid return was selected for scrutiny and in response

ACIT, CORPORATE CIRCLE-3(1), CHENNAI vs. M/S TVS MOTOR COMPANY LIMITED, CHENNAI

In the result the appeal of the Revenue is dismissed

Bench: Shri Mahavir Singh & Shri Amitabh Shuklaआयकर अपील िं./Ita No. 06/Chny/2023 निर्धारण वर्ा /Assessment Year: 2016-17. The Asst. Commissioner Of M/S. Tvs Motor Company Ltd., Income Tax, Vs. Chaitanya, No.12, Corporate Circle-3(1), Khader Nawaz Khan Road, Chennai. Nungambakkam, Chennai – 600 006. [Pan: Aaacs7032B] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलधर्थी की ओर से/ Assessee By : Shri Vikaram Vijayaraghavan, Advocate प्रत्यर्थी की ओर से /Revenue By : Shri A. Sasikumar, Cit ुनवाई की तारीख/Date Of Hearing : 01.05.2024 घोषणा की तारीख /Date Of Pronouncement : 29.05.2024 आदेश / O R D E R

deem it fit to condone the impugned delay and thus the delay is condoned and we proceed to dispose of the appeal for adjudication. 3. Brief facts of the case are that the assesse company is engaged in the business of manufacture of auto mobile and auto parts. Return of income was filed by the assesse on 13.11.2016 declaring