HYUNDAI TRANSYS INC,REPUBLIC OF KOREA vs. DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAX, CORPORATE CIRCLE 1(1), CHENNAI, 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.338/Chny/2024 (िनधा"रणवष" / Assessment Year: 2015-2016) Hyundai Transys Inc, Vs. The Deputy Commissioner Of 105, Sindang Income Tax, 1 Ro Seongyeon, International Tax, Myeon, Corporate Circle 1(1) Seosan, Ccn 356851 Chennai. Korea.

depreciation allowance or any other allowance, as the case may be, for the concerned assessment year in the case of an assessee if he has reason to believe that income chargeable to tax has escaped assessment, subject to the provisions of Sections 148 to 153. A pre-condition to initiate proceedings under Section 147 is the issuance of notice under

YUGENDIRAN VISHNUPRIYA,CHENNAI vs. ITO, WARD-2(2), CHENNAI

The appeals of the assessee are allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.3241 &3242/Chny/2024 (िनधा"रणवष" / Assessment Years: 2016-2017 & 2017-18) Yugendiran Vishnupriya Vs. Income Tax Officer, Door No.284/3, International Tax, Thiruveni Colony, Bellyarea, Ward 2(2) Anna Nagar, Chennai-600040 Chennai. [Pan: Apzpv 9903M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Mr. Y. Sridhar, F.C.A ""यथ" क" ओर से /Respondent By : Mr. R. Clement Ramesh Kumar, Cit सुनवाई क" तार"ख/Date Of Hearing : 25.02.2025 घोषणा क" तार"ख /Date Of Pronouncement : 25.03.2025 आदेश / O R D E R Per Manu Kumar Giri ()

depreciation allowance or any other allowance, as the case may be, for the concerned assessment year in the case of an assessee if he has reason to believe that income chargeable to tax has escaped assessment, subject to the provisions of Sections 148 to 153. A pre-condition to initiate proceedings under Section 147 is the issuance of notice under

YUGENDIRAN VISHNUPRIYA,CHENNAI vs. ITO, WARD-2(2), CHENNAI

The appeals of the assessee are allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.3241 &3242/Chny/2024 (िनधा"रणवष" / Assessment Years: 2016-2017 & 2017-18) Yugendiran Vishnupriya Vs. Income Tax Officer, Door No.284/3, International Tax, Thiruveni Colony, Bellyarea, Ward 2(2) Anna Nagar, Chennai-600040 Chennai. [Pan: Apzpv 9903M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Mr. Y. Sridhar, F.C.A ""यथ" क" ओर से /Respondent By : Mr. R. Clement Ramesh Kumar, Cit सुनवाई क" तार"ख/Date Of Hearing : 25.02.2025 घोषणा क" तार"ख /Date Of Pronouncement : 25.03.2025 आदेश / O R D E R Per Manu Kumar Giri ()

depreciation allowance or any other allowance, as the case may be, for the concerned assessment year in the case of an assessee if he has reason to believe that income chargeable to tax has escaped assessment, subject to the provisions of Sections 148 to 153. A pre-condition to initiate proceedings under Section 147 is the issuance of notice under

POOJA PRABHAKAR,CHENNAI vs. INCOME TAX OFFICER, NON CORPORATE WARD 15(1), CHENNAI, CHENNAI

In the result, the appeal of the assessee is allowed

149 of the Act. It was contended that, for the impugned\n assessment year, viz., A.Y. 2014-15, the limitation prescribed for issuance of\nnotice u/s.148 of the Act under the unamended provisions expired on\n31.03.2021. Consequently, the notice issued on 31.07.2022 is ex-facie time-\nbarred. In support of this proposition, reliance was placed on the judgment of\nthe

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

149 taxmann.com 399/293 Taxman 141/ 454 ITR 212/(2024) 2 SCC 433], which deals with the manner in which an assessment under Section 153A for a block period must be made pursuant to a search under Section 132 of the I.T. Act or a requisition under Section 132A of the I.T. Act. In particular, the said decision

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

149 taxmann.com 399/293 Taxman 141/ 454 ITR 212/(2024) 2 SCC 433], which deals with the manner in which an assessment under Section 153A for a block period must be made pursuant to a search under Section 132 of the I.T. Act or a requisition under Section 132A of the I.T. Act. In particular, the said decision

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

149 taxmann.com 399/293 Taxman 141/ 454 ITR 212/(2024) 2 SCC 433], which deals with the manner in which an assessment under Section 153A for a block period must be made pursuant to a search under Section 132 of the I.T. Act or a requisition under Section 132A of the I.T. Act. In particular, the said decision

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

149 taxmann.com 399/293 Taxman 141/ 454 ITR 212/(2024) 2 SCC 433], which deals with the manner in which an assessment under Section 153A for a block period must be made pursuant to a search under Section 132 of the I.T. Act or a requisition under Section 132A of the I.T. Act. In particular, the said decision

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

149 taxmann.com 399/293 Taxman 141/ 454 ITR 212/(2024) 2 SCC 433], which deals with the manner in which an assessment under Section 153A for a block period must be made pursuant to a search under Section 132 of the I.T. Act or a requisition under Section 132A of the I.T. Act. In particular, the said decision

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

149 taxmann.com 399/293 Taxman 141/ 454 ITR 212/(2024) 2 SCC 433], which deals with the manner in which an assessment under Section 153A for a block period must be made pursuant to a search under Section 132 of the I.T. Act or a requisition under Section 132A of the I.T. Act. In particular, the said decision notices the amendments

JOTHI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-2(2), CHENNAI

149 taxmann.com 399/293 Taxman 141/ 454 ITR 212/(2024) 2 SCC 433], which deals with the manner in which an assessment under Section 153A for a block period must be made pursuant to a search under Section 132 of the I.T. Act or a requisition under Section 132A of the I.T. Act. In particular, the said decision notices the amendments

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

149, section 151 and section 153, in the\ncase of a person where a search is initiated under section 132 or books of account,\nother documents or any assets are requisitioned under section 132A after the 31st day of\nMay, 2003, the Assessing Officer shall-\n(a) issue notice to such person requiring him to furnish within such period

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI

depreciation penalty is not leviable.\nThe additions in assessment proceedings will not automatically lead to\ninference of levying penalty. The Calcutta High Court in the case of CIT v.\nSuresh Chand Bansal [2010] 329 ITR 330 held that where there was an\noffer of additional income in the revised return filed by the assessee and\nsuch offer is in consequence

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, THIRUVANNAMALAI

depreciation penalty is not leviable.\nThe additions in assessment proceedings will not automatically lead to\ninference of levying penalty. The Calcutta High Court in the case of CIT v.\nSuresh Chand Bansal [2010] 329 ITR 330 held that where there was an\noffer of additional income in the revised return filed by the assessee and\nsuch offer is in consequence

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, THIRUVANNAMALAI

In the result, all the six appeals of the Revenue are\ndismissed

depreciation penalty is not leviable.\nThe additions in assessment proceedings will not automatically lead to\ninference of levying penalty. The Calcutta High Court in the case of CIT v.\nSuresh Chand Bansal [2010] 329 ITR 330 held that where there was an\noffer of additional income in the revised return filed by the assessee and\nsuch offer is in consequence

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI,

depreciation penalty is not leviable.\nThe additions in assessment proceedings will not automatically lead to\ninference of levying penalty. The Calcutta High Court in the case of CIT v.\nSuresh Chand Bansal [2010] 329 ITR 330 held that where there was an\noffer of additional income in the revised return filed by the assessee and\nsuch offer is in consequence

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI

In the result, all the six appeals of the Revenue are\ndismissed

depreciation penalty is not leviable.\nThe additions in assessment proceedings will not automatically lead to\ninference of levying penalty. The Calcutta High Court in the case of CIT v.\nSuresh Chand Bansal [2010] 329 ITR 330 held that where there was an\noffer of additional income in the revised return filed by the assessee and\nsuch offer is in consequence

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, CHENNAI

In the result, all the six appeals of the Revenue are\ndismissed

depreciation penalty is not leviable.\nThe additions in assessment proceedings will not automatically lead to\ninference of levying penalty. The Calcutta High Court in the case of CIT v.\nSuresh Chand Bansal [2010] 329 ITR 330 held that where there was an\noffer of additional income in the revised return filed by the assessee and\nsuch offer is in consequence

INDUSTRIAL MINERAL CO, 100%EOU,TUTICORIN vs. ACIT,CENTRAL CIRCLE-1, MADURAI, MADURAI

In the result, the assessee’s appeal ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.390/Chny/2023 (िनधा(रण वष( / Assessment Year: 2012-13) M/S. Industrial Mineral Co. 100% Eou Acit बनाम/ 1/1C, Harbour Express Highway, Central Circle-(1), Vs. Thermal Nagar So, Tuticorin-628 006. Madurai "थायीलेखासं./जीआइआरसं./Pan/Tan No. Aaafi-9714-R (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकरअपील सं./ Ita No.529/Chny/2023 (िनधा(रण वष( / Assessment Year: 2012-13) Acit M/S. Industrial Mineral Co. 100% Eou बनाम/ Central Circle-(1), 1/1C, Harbour Express Highway, Vs. Madurai Thermal Nagar So, Tuticorin 628006 "थायीलेखासं./जीआइआरसं./Pan/Tan No. Aaafi-9714-R (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ" की ओर से/ Assessee By : Shri N. Arjun Raj (Advocate) – Ld.Ar ""थ" की ओर से/Revenue By : Shri R. Clement Ramesh Kumar (Cit) -Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 26-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 21-05-2025 आदेश / O R D E R

Section 153A is limited to only undisclosed income on the basis of seized materials 3.2 The Ld.CIT(A) erred in failing to appreciate that on the issue of addition to be made in the assessments framed u/s.153A on the basis of seized materials, the SLP filed by the Revenue has been accepted the Hon'ble Apex Court in the case