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

Section 43A are of revenue in nature and corresponding effect of exchange differences are to be accorded in the Profit & Loss Account. 14. The Ld. CIT (A) ought to appreciate the fact that the Rs. method followed by the assessee being based on 16,61,77,507/ guidance (Accounting Standards) issued by the ICAI, is very scientific, approved and considered

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

Section 43A are of revenue in nature and corresponding effect of exchange differences are to be accorded in the Profit & Loss Account. 14. The Ld. CIT (A) ought to appreciate the fact that the Rs. method followed by the assessee being based on 16,61,77,507/ guidance (Accounting Standards) issued by the ICAI, is very scientific, approved and considered

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

Section 43A are of revenue in nature and corresponding effect of exchange differences are to be accorded in the Profit & Loss Account. 14. The Ld. CIT (A) ought to appreciate the fact that the Rs. method followed by the assessee being based on 16,61,77,507/ guidance (Accounting Standards) issued by the ICAI, is very scientific, approved and considered

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

Section 43A are of revenue in nature and corresponding effect of exchange differences are to be accorded in the Profit & Loss Account. 14. The Ld. CIT (A) ought to appreciate the fact that the Rs. method followed by the assessee being based on 16,61,77,507/ guidance (Accounting Standards) issued by the ICAI, is very scientific, approved and considered

REGEN RENEWABLE ENERGY GENERATION GLOBAL LTD, CYPRUS,CHENNAI vs. DCIT, INTERNATIONAL TAXATION -2(1), CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri Ramit Kocharआयकर अपील सं./I.T.A.No.153/Chny/2018 ("नधा"रण वष" / Assessment Year: 2012-13) Vs The Deputy Commissioner Of M/S. Regen Renewable Energy Generation Global Limited, Income Tax, Cyprus International Taxation – 2(1), C/O M/S. Regen Powertech Pvt. Ltd., Chennai – 34. Krm Plaza, 7Th Floor, North Tower, No.2, Harrington Road, Chennai – 600 031. Pan: Aafcr0685N (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Ramakrishnan, Fca ""यथ" क" ओर से/Respondent By : Shri M. Srinivasa Rao, Cit

delay of 31 days is condoned and the appeal is admitted. 3. Shri B. Ramakrishnan, the Ld. Representative for the assessee submitted that in the course of assessment proceeding, the Assessing Officer referred the matter to the Transfer Pricing Officer (TPO) for determination of Arm’s Length Price in respect of international transactions. However the TPO found that no adjustment

ASSISSTANT COMMISSIONER OF INCOME CORPORATE CIRCLE 1-1, CHENNAI vs. FL SMIDTH PRIVATE LIMITED, KANCHIPURAM

condoned the delay in filing of appeals and cross-objections due to reasonable cause. On the issue of depreciation on goodwill, the Tribunal held that goodwill arising from amalgamation is an eligible intangible asset for depreciation, irrespective of whether it was recorded in the books or the accounting method used (purchase vs. pooling of interest). The Tribunal also addressed transfer

TIONG WOON PROJECT & CONTRACTING (INDIA) PVT. LTD.,CHENNAI vs. THE DY.CIT, CIRCLE-4(1)(2), AHMEDABAD

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

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singhआयकर अपील सं./Ita No.419/Ahd/2016 "नधा"रण वष" / Assessment Year : 2011-12

condone the delay in filing he objection, consequently the direction given under Section 144C(5) of the Act cannot be given

MUTHUKRISHNAN KUMARESAN,CHENNAI vs. ITO, INTERATIONAL TAXATION WARD-1(2), CHENNAI

The appeal stand allowed for statistical purposes

condoned the delay in filing the appeal, considering the period and the affidavit filed. Although the assessee was negligent, the Tribunal, in the interest of natural justice, decided to provide another opportunity for hearing.", "result": "Partly Allowed", "sections": ["68", "143(3)", "144C

ACIT, CHENNAI vs. MYUNGHWA AUTOMOTIVE INDIA PRIVATE LIMITED, KANCHEEPURAM

In the result, the appeal of the Revenue and the cross objections of the assessee are allowed for statistical purposes

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

delay is condoned. 3.0 Background of the Company: M/s.Myunghwa Automotive Private Limited is a wholly owned subsidiary of M/s.Myunghwa Industrial Company Limited, South Korea Myunghwa Automotive Pvt Ltd incorporated as Private Limited Company under the Companies Act, during September 2007. The ITA No.1186/Mds/2016 & CO No.179/Mds/2016 :- 3 -: Company is having its manufacturing facility in Sriperumbadur. The Company is mainly engaged

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

144C of the Income-tax Act, 1961 (“Act”) is not in accordance with the law, contrary to the facts and circumstances of the present case and is in violation of principle of equity and natural justice. Validity of the Assessment Proceedings 2. The AO erred in passing the assessment order in the name of a non-existent company and hence

DCIT, CHENNAI vs. SIVA VENTURES LIMITED, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

144C of the Income-tax Act, 1961 (“Act”) is not in accordance with the law, contrary to the facts and circumstances of the present case and is in violation of principle of equity and natural justice. Validity of the Assessment Proceedings 2. The AO erred in passing the assessment order in the name of a non-existent company and hence

SIVA INDUSTRIES AND HOLDINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

144C of the Income-tax Act, 1961 (“Act”) is not in accordance with the law, contrary to the facts and circumstances of the present case and is in violation of principle of equity and natural justice. Validity of the Assessment Proceedings 2. The AO erred in passing the assessment order in the name of a non-existent company and hence

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

144C of the Income-tax Act, 1961 (“Act”) is not in accordance with the law, contrary to the facts and circumstances of the present case and is in violation of principle of equity and natural justice. Validity of the Assessment Proceedings 2. The AO erred in passing the assessment order in the name of a non-existent company and hence

TECTON ENGINEERING AND CONSTRUCTION LLC,CHENNAI vs. DCIT, CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 358/Chny/2017 िनधा"रण वष" / Assessment Year: 2012-13

condone the delay in filing of appeal and admit the appeal filed by the assessee for adjudication. 5. The assessee has raised the following grounds of appeal: “1. The order of the Deputy Commissioner of Income Tax, International Taxation - 2(2), Chennai dated 30.01.2016 for the above assessment year is contrary to law, facts, and in the circumstances

ASSISTANT COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1 1, CHENNAI vs. HITACHI SOLUTIONS INDIA PRIVATE LIMITED , KANCHIPURAM

In the result, the appeal filed by the assessee is allowed and the appeal filed\nby the revenue is dismissed

Bench: SHRI GEORGE GEORGE K, VICE PRESIDENT AND\nSHRI S.R. RAGHUNATHA, ACCOUNTANT MEMBER\nआयकर अपीलसं./IT(TP)A No.: 17/CHNY/2024\nनिर्धारण वर्ष / Assessment Year: 2018-19\nHitachi Solutions India Private\nLimited,\nBlock 5, 10th Floor, 1/124,\nDLF IT Park, Shivaji Gardens,\nMount Poonamallee Road,\nChennai - 600 089.\nThe Deputy Commissioner of\nIncome Tax,\nVs. Corporate Circle- 1(1),\nNo.121, M.G.Road,\nChennai - 600 034.\n[PAN:AAACZ-1544-R]\n(अपीलार्थी/Appellant)\n(प्रत्यर्थी/Respondent)\nआयकर

condone delay in filing of appeal and admit appeal filed by the revenue\nfor adjudication.\n3. The assessee has raised the following grounds of appeal in\nIT(TP)A No.: 17/CHNY/2024:\n1.\nProcedural irregularity and violation of principles of natural justice.\n1. 1. The Learned Assessing Officer (\"Ld. AO\") has grievously erred, in law by\nmaking a reference

M/S. SECUREKLOUD TECHNOLOGIES LTD.,CHENNAI vs. ITO, CORPORATE CIRCLE-3(1),, CHENNAI

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

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. No.3232/Chny/2024 िनधा"रण वष"/Assessment Year: 2021-22 M/S. Securekloud Technologies Vs. The Income Tax Officer, Limited, Bascon Futura Sv 5Th Floor, Corporate Circle 3(1), 10/1 Venkatanarayana Road, T. Nagar, Chennai. Chennai 600 017. [Pan:Aabcp6266D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri M.V. Swaroop, Advocate ""थ" की ओर से/Respondent By : Shri A. Sasi Kumar, Cit सुनवाई की तारीख/ Date Of Hearing : 17.04.2025 घोषणा की तारीख /Date Of Pronouncement : 25.04.2025 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against Final Assessment Order Dated 27.09.2024 Passed Under Section 143(3) R.W.S. 144C(13) R.W.S. 144B Of The Income Tax Act, 1961 [“Act” In Short] For The Assessment Year 2021-22. 2. We Find That This Appeal Is Filed With A Delay Of 18 Days. The Assessee Filed An Affidavit For Condonation Of Delay Stating The Reasons. Upon Hearing Both The Parties & On Examination Of The Said Affidavit, We Find The Reasons Stated By The Assessee Are Bonafide, Which Really

section 143(3) r.w.s. 144C(13) r.w.s. 144B of the Income Tax Act, 1961 [“Act” in short] for the assessment year 2021-22. 2. We find that this appeal is filed with a delay of 18 days. The assessee filed an affidavit for condonation

DCIT, CHENNAI vs. AUTONEUM NITTOKU SOUND PROOF PRODUCTS INDIA PRIVATE LIMITED, KANCHEEPURAM

In the result, Revenue appeal is dismissed

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarअपील अपील अपील संसंसंसं./I.T.A. No. 1956/Mds/2016 अपील िनधा"रण वष" िनधा"रण वष" /Assessment Year : 2009-10 िनधा"रण िनधा"रण वष" वष" Deputy Commissioner Of Income M/S. Autoneum Nittoku Sound Proof Tax, Vs. Products India Private Limited, Corporate Circle -1(1), Plot No. Rns 15, Sipcot Industrial Chennai - 600 034. Growth Centre, Oragadam, Vadakupattu Post, Kanchipuram, 603 204. [Pan: Aaecr 1409H]

delay is condoned and appeal is admitted. 3. The Revenue has raised the following grounds: 3.1 The Ld. CIT(A) has erred allowing the appeal of the assessee by holding that the penalty order does not survive since the matter has been remitted back to the TPO for reconsideration. 3.2 The Ld. CIT(A) failed to appreciate that fact that

DCIT, CORPORATE CIRLCE - 3 (2),, CHENNAI vs. M/S. VENTURE LIGHTING INDIA LTD.,, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.704/Chny/2020 िनधा"रण वष"/Assessment Year: 2008-09 The Deputy Commissioner Of Vs. M/S. Venture Lighting India Ltd., Income Tax, Plot No. A-30, D-5, Phase Ii, Corporate Circle – 3(2), Zone-B, Mepz, Tambaram, Chennai – 600 034. Chennai 600 045. [Pan: Aaaca9284H] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri P. Sajit Kumar, Jcit ""थ" की ओर से/Respondent By : Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 19.10.2022 घोषणा की तारीख /Date Of Pronouncement : 18.11.2022 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Revenue Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals)-7, Chennai, Dated 09.03.2020 For The Assessment Year 2008-09. 2. The Appeal Filed By The Revenue Is Delayed By 78 Days In Filing The Appeal Due To Outbreak Of Covid-19 Pandemic & Hence, The Delay In Filing The Appeal Is Condoned & Admitted The Appeal For 2

delay in filing the appeal is condoned and admitted the appeal for 2 I.T.A. No.704/Chny/20 adjudication. 3. Facts are, in brief that the assessee company filed its return of income for the assessment year 2008-09 originally on 23.09.2008 with a returned income of ₹.3,85,36,870/-. The assessee has also filed a revised return of income