JCI (OSD), CORPORATE CIRCLE -1(1),, CHENNAI vs. M/S. ARCHEAN CHEMICAL INDUSTRIES PVT. LTD.,, CHENNAI

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

condone delay in filing both these appeal filed by the Revenue. ITA No. 1998/Chny/2019 (A.Y.2014-15): 5. The Revenue has raised following grounds of appeal:- “1. The order of the Ld. CIT(A) is contrary to law, facts and circumstances of the case. 2.1 The CIT(A) erred in deleting the addition made u/s 56(2)(viib

STAR HEALTH INVESTMENTS PRIVATE LIMITED,CHENNAI vs. ITO,CORPORATE WARD-6(3), CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.357/Chny/2022 िनधा"रण वष"/Assessment Year: 2015-16 Star Health Investments Vs. The Principal Commissioner Of Private Limited (Dissolved), Income Tax-3, Room No. 410, Main No. 10 & 11, 4Th Floor, Chennai Citi Building, Ivth Floor, 121, Mahatma Centre, Dr. Radhakrishnan Salai, Gandhi Road, Nungambakkam, Mylapore, Chennai 600 004, Chennai. Tamil Nadu. [Pan:Aajcs6207K] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Venkata Raman, Ca & Shri V. Padmanabhan, Ca ""थ" की ओर से/Respondent By : Shri P. Mohan Reddy, Cit सुनवाई की तारीख/ Date Of Hearing : 09.02.2023 घोषणा की तारीख /Date Of Pronouncement : 15.03.2023 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 31.03.2021 Relevant To The Assessment Year 2015-16 Passed Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

delay in filing the appeal is condoned and admitted for adjudication. 3. The grounds raised by the assessee are reproduced as under: 1. For that the revision order dated 31.03.2021 passed by the Principal Commissioner of Income Tax – 3, Chennai under section 263 of the Income- tax Act, 1961, is without jurisdiction, barred by limitation and is opposed

ASSISTANT COMMISSIONER OF INCOME TAX, NUNGAMBAKKAM vs. R K M POWERGEN PRIVATE LIMITED, T NAGAR

In the result the appeal of the revenue for the both the

condone delay in filing of appeal and admit appeal filed by the revenue for adjudication.\n3.\nThe revenue has raised the following grounds of appeal for the A.Y. 2013-14:\n“2. The learned CIT(A) erred in deleting the addition made u/s. 56(1) of the IT Act, amounting to Rs.615.34 crores, being income from other sources

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. R K M POWERGEN PVT. LTD., CHENNAI

In the result the appeal of the revenue for the both the\n

viib) had no application on share premia received from\nnon-residents and Section 68 could not be used for the reasons\nstated above. It is for this reason that the Assessing Officer\ninvoked Section 56(1).\n9.10 Section 56(1) cannot be invoked since for it to apply a\nreceipt should be income whereas share premia is capital in\nnature

S.A. METRO PLOTS PVT. LTD.,,CHENNAI vs. ITO, CORPORATE WARD - 6 (1),, CHENNAI

The appeal stands partly allowed for statistical purposes

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

section 56(2)(viib) cannot be invoked in the case of allotment to existing shareholders. For the reasons stated above and that may be adduced at the time of hearing, the Appellant prays that the addition to income of Rs.65,50,381/- should be deleted and justice rendered. As is evident, the assessee is aggrieved by confirmation of certain addition

INCOME TAX OFFICER, MAIN BUILDING vs. PRIYA ESTATE DEVELOPERS PRIVATE LIMITED, ABHIRAMAPURAM, CHENNAI

The appeal stand allowed for statistical purposes

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1244/Chny/2024 (िनधा*रण वष* / Assessment Year: 2016-17) Ito M/S. Priya Estate Developers Private Ltd. बनाम/ Corporate Ward-5(2) #11, Bashyam Basheer Ahmed Road Vs. Chennai. Alwarpet, Chennai-600 018. "थायीलेखासं./जीआइआरसं./Tan/Pan No. Aahcp-5405-G (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Clement Ramesh Kumar (Cit) – Ld. Dr ""थ"कीओरसे/Respondent By : Shri R. Vijayaraghavan (Advocate) -Ld. Ar (Virtual) सुनवाईकीतारीख/Date Of Hearing : 24-09-2024 घोषणाकीतारीख /Date Of Pronouncement : 03-12-2024 आदेश / O R D E R

condoned. The grounds raised by revenue read as under: - 1. The order of the Ld. CIT(A) in ITA No. ITBA/NFAC/S/250/202324/1059799418(1) dated 17.01.2024 for the AY 2016-17 is erroneous in law, facts and circumstances of the case. 2. The Ld. CIT(A) erred in holding that the addition made by the AO u/s 56(2)(viib) of Rs.37.21

ARJUN PULP AND PAPER INDIA PVT LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(1), CHENNAI

The appeals stand dismissed

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

Section 56(2)(viib) as undisclosed income and thereby arriving at a total income/loss of Rs.7,77,61,860/- for the AY 2015-16. That the Ld. AO and the Ld. CIT (A) has erred in rejecting the valuation of shares adopted by the Appellant viz., Cash flow method for issuance of shares

DCIT, CORP CIR-1(1), CHENNAI vs. ARJUN PULP AND PAPER INDIA PVT LTD , CHENNAI

The appeals stand dismissed

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

Section 56(2)(viib) as undisclosed income and thereby arriving at a total income/loss of Rs.7,77,61,860/- for the AY 2015-16. That the Ld. AO and the Ld. CIT (A) has erred in rejecting the valuation of shares adopted by the Appellant viz., Cash flow method for issuance of shares

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. SOUTHERN HEALTH FOODS PRIVATE LIMITED, CHENNAI

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

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. No.2237/Chny/2024 िनधा"रण वष"/Assessment Year: 2017-18 The Assistant Commissioner Of Vs. Southern Health Foods Private Income Tax, Limited, Khivraj Complex-1, Corporate Circle 3(1), Third Floor No. 477- 480, Chennai Nandanam, Anna Salai, Chennai 600 035. [Pan:Aarcs3296E] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Easwar, Jcit ""थ" की ओर से/Respondent By : Shri G. Srikanth, C.A. सुनवाई की तारीख/ Date Of Hearing : 08.04.2025 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 Revenue Is Directed Against The Order Dated 13.06.2024 Passed By The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi For The Assessment Year 2017-18. 2. We Find That This Appeal Is Filed With A Delay Of 11 Days. The Appellant - Revenue Filed A Petition For Condonation Of Delay Stating The Reasons. Upon Hearing Both The Parties & On Examination Of The Said

delay is condoned and admitted the appeal for adjudication. 3. Ground No. 1 raised by the Appellant-Revenue is general in nature and requires no adjudication. 4. Grounds No. 2 to 5 raised by the Appellant-Revenue in challenging the action of the ld. CIT(A) in deleting the addition made on account of unexplained cash credit under section

MYNAH INDUSTRIES LTD.,HOSUR vs. ITO TDS WARD, SALME

In the result, the assessee’s appeals in I

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./Ita Nos.2433, 2434, 2435, 2436 & 2437/Chny/2018 "नधा"रण वष" /Assessment Years : 2014-15, 2015-16, 2014-15, 2012-13 & 2011-12 M/S Mynah Industries Ltd., The Income Tax Officer, No.66, Mugalapalli Village, V. Tds Ward, Salem. Hosur – 635 105. The Assistant / Deputy Commissioner Of Income Tax, Pan : Aabcr 5484 M Circle(1), Hosur. (अपीलाथ"/Appellant) (""यथ"/Respondent)

condone the delay and admit the appeals. 3. Since the assessee did not appear before this Tribunal even after taking note of the date of hearing by making endorsement in the appeal folder, we heard the Ld. Departmental Representative and proceeded to dispose of the appeals on merit. 4. I.T.A. Nos.2433 & 2434/Chny/2018 relate to levy of interest for non-deduction

MYNAH INDUSTRIES LTD.,HOSUR vs. ITO TDS WARD, SALME

In the result, the assessee’s appeals in I

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./Ita Nos.2433, 2434, 2435, 2436 & 2437/Chny/2018 "नधा"रण वष" /Assessment Years : 2014-15, 2015-16, 2014-15, 2012-13 & 2011-12 M/S Mynah Industries Ltd., The Income Tax Officer, No.66, Mugalapalli Village, V. Tds Ward, Salem. Hosur – 635 105. The Assistant / Deputy Commissioner Of Income Tax, Pan : Aabcr 5484 M Circle(1), Hosur. (अपीलाथ"/Appellant) (""यथ"/Respondent)

condone the delay and admit the appeals. 3. Since the assessee did not appear before this Tribunal even after taking note of the date of hearing by making endorsement in the appeal folder, we heard the Ld. Departmental Representative and proceeded to dispose of the appeals on merit. 4. I.T.A. Nos.2433 & 2434/Chny/2018 relate to levy of interest for non-deduction

MYNAH INDUSTRIES LTD.,HOSUR vs. ITO TDS WARD, SALME

In the result, the assessee’s appeals in I

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./Ita Nos.2433, 2434, 2435, 2436 & 2437/Chny/2018 "नधा"रण वष" /Assessment Years : 2014-15, 2015-16, 2014-15, 2012-13 & 2011-12 M/S Mynah Industries Ltd., The Income Tax Officer, No.66, Mugalapalli Village, V. Tds Ward, Salem. Hosur – 635 105. The Assistant / Deputy Commissioner Of Income Tax, Pan : Aabcr 5484 M Circle(1), Hosur. (अपीलाथ"/Appellant) (""यथ"/Respondent)

condone the delay and admit the appeals. 3. Since the assessee did not appear before this Tribunal even after taking note of the date of hearing by making endorsement in the appeal folder, we heard the Ld. Departmental Representative and proceeded to dispose of the appeals on merit. 4. I.T.A. Nos.2433 & 2434/Chny/2018 relate to levy of interest for non-deduction

MYNAH INDUSTRIES LTD.,HOSUR vs. ITO TDS WARD, SALME

In the result, the assessee’s appeals in I

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./Ita Nos.2433, 2434, 2435, 2436 & 2437/Chny/2018 "नधा"रण वष" /Assessment Years : 2014-15, 2015-16, 2014-15, 2012-13 & 2011-12 M/S Mynah Industries Ltd., The Income Tax Officer, No.66, Mugalapalli Village, V. Tds Ward, Salem. Hosur – 635 105. The Assistant / Deputy Commissioner Of Income Tax, Pan : Aabcr 5484 M Circle(1), Hosur. (अपीलाथ"/Appellant) (""यथ"/Respondent)

condone the delay and admit the appeals. 3. Since the assessee did not appear before this Tribunal even after taking note of the date of hearing by making endorsement in the appeal folder, we heard the Ld. Departmental Representative and proceeded to dispose of the appeals on merit. 4. I.T.A. Nos.2433 & 2434/Chny/2018 relate to levy of interest for non-deduction

MYNAH INDUSTRIES LTD.,HOSUR vs. ITO TDS WARD, SALME

In the result, the assessee’s appeals in I

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./Ita Nos.2433, 2434, 2435, 2436 & 2437/Chny/2018 "नधा"रण वष" /Assessment Years : 2014-15, 2015-16, 2014-15, 2012-13 & 2011-12 M/S Mynah Industries Ltd., The Income Tax Officer, No.66, Mugalapalli Village, V. Tds Ward, Salem. Hosur – 635 105. The Assistant / Deputy Commissioner Of Income Tax, Pan : Aabcr 5484 M Circle(1), Hosur. (अपीलाथ"/Appellant) (""यथ"/Respondent)

condone the delay and admit the appeals. 3. Since the assessee did not appear before this Tribunal even after taking note of the date of hearing by making endorsement in the appeal folder, we heard the Ld. Departmental Representative and proceeded to dispose of the appeals on merit. 4. I.T.A. Nos.2433 & 2434/Chny/2018 relate to levy of interest for non-deduction