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

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

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

M/S. ALCHYMARS ICM SM PVT. LTD.,,CHENNAI vs. DCIT, CORPORATE RANGE-I, , CHENNAI

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

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

condone the delay in filing of this appeal by assessee and admit the appeal for adjudication. 3. The first issue in this appeal of assessee is as regards to the order of CIT(A) confirming the disallowance of Rs.37,08,705/- being loss incurred in foreign currency exchange fluctuation on account of ECB loss holding the same as capital

ACIT,NCC-8, CHENNAI vs. SAINT GOBAIN INDIA P LTD, CHENNAI

In the result the appeals filed by the Revenue in ITA Nos

Bench: Shri Mahavir Singhand Shri Manjunatha.G

condone the delay and admit the appeal. Revenue’s Appeal in ITA Nos.1976 & 1977/CHNY/2019 & 576/CHNY/2021:- 3. The first common issue in these three appeals of Revenue is as regards to the orders of CIT(A), in all these three years, deleting the addition made by the AO by making disallowance of managerial service expenses categorized as ‘fee for technical services

JCIT (OSD) LTU 2, CHENNAI vs. SAINT GOBAIN GLASS INDIA INDIA LIMITED, SRIPERUMBUDUR

In the result the appeals filed by the Revenue in ITA Nos

Bench: Shri Mahavir Singhand Shri Manjunatha.G

condone the delay and admit the appeal. Revenue’s Appeal in ITA Nos.1976 & 1977/CHNY/2019 & 576/CHNY/2021:- 3. The first common issue in these three appeals of Revenue is as regards to the orders of CIT(A), in all these three years, deleting the addition made by the AO by making disallowance of managerial service expenses categorized as ‘fee for technical services

JCIT (OSD) LTU 2, CHENNAI vs. SAINT GOBAIN GLASS INDIA INDIA LIMITED, SRIPERUMBUDUR

In the result the appeals filed by the Revenue in ITA Nos

Bench: Shri Mahavir Singhand Shri Manjunatha.G

condone the delay and admit the appeal. Revenue’s Appeal in ITA Nos.1976 & 1977/CHNY/2019 & 576/CHNY/2021:- 3. The first common issue in these three appeals of Revenue is as regards to the orders of CIT(A), in all these three years, deleting the addition made by the AO by making disallowance of managerial service expenses categorized as ‘fee for technical services

SAINT GOBAIN INDIA PRIVATE LIMITED,CHENNAI vs. DCIT LTU 2, CHENNAI

In the result the appeals filed by the Revenue in ITA Nos

Bench: Shri Mahavir Singhand Shri Manjunatha.G

condone the delay and admit the appeal. Revenue’s Appeal in ITA Nos.1976 & 1977/CHNY/2019 & 576/CHNY/2021:- 3. The first common issue in these three appeals of Revenue is as regards to the orders of CIT(A), in all these three years, deleting the addition made by the AO by making disallowance of managerial service expenses categorized as ‘fee for technical services

INDIAN BANK,CHENNAI vs. DCIT CORP CIRCLE 1(1), DCIT CORP CIRCLE 1(1)

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes and the appeal filed by the Revenue is allowed

delay of 60 days in filing\nthe appeal is condoned and proceed to hear the appeal on its merit.\nI.T.A. No. 581/Chny/2024 [AY 2020-21] – Assessee's appeal:\n3.\nThe first ground raised by the assessee is against the action of the\nLd. CIT(A) confirming the action of the Assessing Officer adding the income\nof the foreign branches

M/S EPIMONEY PRIVATE LIMITED,CHENNAI vs. ITO/ACIT, CORPORATE WARD-3(3), CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No.727/Chny/2023 िनधा"रण वष"/Assessment Year: 2018-19 M/S. Epimoney Private Limited, Vs. The Income Tax Officer/Acit, No. 119, 2Nd Floor, Greenways Towers, Corporate Ward 3(3), St. Mary’S Road, Abhiramapuram, Chennai. Chennai 600 018. [Pan:Aaacu1013A] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Vijayaraghavan, Advocate ""थ" की ओर से/Respondent By : Shri V. Nandakumar, Cit सुनवाई की तारीख/ Date Of Hearing : 07.11.2023 घोषणा की तारीख /Date Of Pronouncement : 10.11.2023 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-Chennai 3, Chennai, Dated 30.03.2023 Relevant To The Assessment Year 2018-19 Passed Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

delay in filing of the appeal stands condoned and the appeal is admitted for adjudication. 3. Brief facts of the case are that the assessee had filed its return of income for the assessment year 2018-19 on 29.09.2018 claiming a total loss of ₹.3,58,59,222/-. The assessment under section 143(3) r.w.s

ASSISTANT COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1 1, CHENNAI vs. INDIAN BANK, CHENNAI

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes and the appeal filed by the Revenue is allowed

delay of 60 days in filing\nthe appeal is condoned and proceed to hear the appeal on its merit.\nI.T.A. No. 581/Chny/2024 [AY 2020-21] – Assessee's appeal:\n3. The first ground raised by the assessee is against the action of the\nLd. CIT(A) confirming the action of the Assessing Officer adding the income\nof the foreign branches

DCIT, KUMBAKONAM vs. KALI BMH SYSTEMS PVT LTD., KUMBAKONAM

In the result, the Revenue’s appeals are allowed, and the assessee’s COs are dismissed as not maintainable

Bench: Shri Sanjay Arora & Shri Duvvuru Rl Reddy

condoning the delay. The assessee’s COs are accordingly dismissed as not maintainable. We are, however, impressed by the ld. counsel’s alternate plea that the assessee could in any case support the orders appealed against (by the Revenue) on any other ground, i.e., while defending the respondents’ case. And, therefore, 3 ITA Nos. 1631-33 & 1186/Mds/2015 & COs.27-28/2016

DCIT, KUMBAKONAM vs. KALI BMH SYSTEMS PVT. LTD., KUMBAKONAM

In the result, the Revenue’s appeals are allowed, and the assessee’s COs are dismissed as not maintainable

Bench: Shri Sanjay Arora & Shri Duvvuru Rl Reddy

condoning the delay. The assessee’s COs are accordingly dismissed as not maintainable. We are, however, impressed by the ld. counsel’s alternate plea that the assessee could in any case support the orders appealed against (by the Revenue) on any other ground, i.e., while defending the respondents’ case. And, therefore, 3 ITA Nos. 1631-33 & 1186/Mds/2015 & COs.27-28/2016

DCIT, KUMBAKONAM vs. KALI BMH SYSTEMS PVT LTD., KUMBAKONAM

In the result, the Revenue’s appeals are allowed, and the assessee’s COs are dismissed as not maintainable

Bench: Shri Sanjay Arora & Shri Duvvuru Rl Reddy

condoning the delay. The assessee’s COs are accordingly dismissed as not maintainable. We are, however, impressed by the ld. counsel’s alternate plea that the assessee could in any case support the orders appealed against (by the Revenue) on any other ground, i.e., while defending the respondents’ case. And, therefore, 3 ITA Nos. 1631-33 & 1186/Mds/2015 & COs.27-28/2016

DCIT, KUMBAKONAM vs. KALI BMH SYSTEMS PVT LTD., KUMBAKONAM

In the result, the Revenue’s appeals are allowed, and the assessee’s COs are dismissed as not maintainable

Bench: Shri Sanjay Arora & Shri Duvvuru Rl Reddy

condoning the delay. The assessee’s COs are accordingly dismissed as not maintainable. We are, however, impressed by the ld. counsel’s alternate plea that the assessee could in any case support the orders appealed against (by the Revenue) on any other ground, i.e., while defending the respondents’ case. And, therefore, 3 ITA Nos. 1631-33 & 1186/Mds/2015 & COs.27-28/2016

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 3(3), CHENNAI., CHENNAI vs. M/S. CATERPILLAR INDIA PVT. LTD , CHENNAI

Appeal is dismissed

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपीलसं./It(Tp)A No.: 42/Chny/2023 िनधा"रण वष" / Assessment Year: 2014-15 M/S.Caterpillar India Private Limited, The Deputy Commissioner Of 7Th Floor, International Tech Park, Income Tax, Taramani Road, Vs. Central Circle- 3(3), Chennai – 600 113. Chennai – 600 034. [Pan:Aabcc-4615-K] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपीलसं./Ita No.: 717/Chny/2023 िनधा"रण वष" / Assessment Year: 2014-15 The Deputy Commissioner Of Income M/S.Caterpillar India Private Tax, Limited, 7Th Floor, International Tech Park, Central Circle- 3(3), V. Chennai – 600 034. Taramani Road, Chennai – 600 113. [Pan:Aabcc-4615-K] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/Assessee By : Shri Harish Ramanathan, C.A. By Virtual ""थ" की ओर से/Department By : Shri A. Sasikumar, C.I.T. सुनवाई की तारीख/Date Of Hearing : 12.03.2025 घोषणा की तारीख/Date Of Pronouncement : 06.06.2025 आदेश /O R D E R Per S. R. Raghunatha, Am: These Cross Appeals Filed By The Assessee & The Revenue Are Arising Out Of Order Of Commissioner Of Income Tax (Appeals)-18, Chennai U/S. 143(3) R.W.S. 92Ca (3) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) For The Assessment Year 2014-15 Dated 07.03.2023. Since, Facts Are Identical & Issues Are Common, For :-2-: It(Tp) A. No:42 /Chny/2023 & The Sake Of Convenience, The Appeal Filed By The Revenue & Assessee Are Being Heard Together & Disposed Off, By This Consolidated Order.

condone delay in filing of appeal and admit appeal filed by the revenue for adjudication. 3. The assessee has raised the following grounds of appeal in IT(TP)A No.: 42/CHNY/2023: 1. Legal Grounds 1(a) On the facts and circumstances of the case and in law, the order dated November 1, 2017, passed by learned Transfer Pricing Officer

KALI BMH SYSTEMS PVT. LTD.,,KUMBAKONAM vs. DCIT, CIRCLE - 2 (1),, TRICHY

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

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No.864/Chny/2020 िनधा"रण वष"/Assessment Year: 2013-14 Kali Bmh Systems P. Ltd., The Deputy Commissioner Of 42/6, B2, Chennai Road, Vs. Income Tax, Melacauvery, Kumbakonam 612 002. Circle 2(1), Trichy. [Pan:Aadck0974H]

condonation petition for the delay in filing the appeal. Thus, the appeal filed by the assessee is not maintainable and liable to be dismissed. 3. Despite service of notice through RPAD, none appeared on behalf of the assessee or filed any adjournment petition. Hence, we proceed to decide the appeal on merits after hearing

M/S. CITY UNION BANK,,KUMBAKONAM vs. DCIT, CIRCLE - 2 (1),, TRICHY

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

section 36(1)(viii) of the Act, prescribed method has been provided for computing deduction for eligible profit and as per said section, an amount not exceeding 20% of profit derived from eligible business computed under the head ‘profit and :-60-: ITA. No: 1120, 1121, 1418 & 1419/Chny/2019, 636 & 672/Chny/2020 gains of business or profession’ (before making any deduction under this