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

153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section; :-13-: ITA Nos: 2569, 2570, 2571, 2573 to 2577/Chny/2025 (ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year

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

153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section; :-13-: ITA Nos: 2569, 2570, 2571, 2573 to 2577/Chny/2025 (ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year

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

153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section; :-13-: ITA Nos: 2569, 2570, 2571, 2573 to 2577/Chny/2025 (ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year

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

153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section;\n(ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year.”\n\n2.2. It is submitted that when there

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

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

153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section;\n(ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year.”\n\n2.2. It is submitted that when there

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

153B and section 153C,\nall other provisions of this Act shall apply to the assessment made under this section;\n:-12-:\nITA Nos: 2569, 2570, 2571,\n2573 to 2577/Chny/2025\n(ii) in an assessment or reassessment made in respect of an assessment year\nunder this section, the tax shall be chargeable at the rate or rates as applicable\nto such

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

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

Depreciation, Power related adjustments, working capital adjustments, Risk adjustments and Forex gain related adjustments and the PLI worked out to 0.97% as against the assessee’s working of 10.25%. Hence the TPO made independent search process and selected the final set of comparables as under: Final set of comparables: S.No. Name of the companies PLI (OP/OI) 1 Kalyani Forge

GANESAN KANNAN,THOOTHUKUDI vs. ITI, INTERNATIONAL TAXATION WARD, THOOTHUKUDI

In the result, appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपीलसं./Ita No.: 698/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19

depreciable asset Total Assessed Income 1,06,69,982 The assessee filed objection before the DRP against the draft assessment order passed by the AO on 26/04/2023. The DRP- 1, Bengaluru vide their direction issued u/s 144C(5) of the Act dated 27.12.2023 has rejected the arguments of the assessee and upheld the additions made by the Assessing Officer. Thereafter

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

153B r.w.s 153C r.w.s 153A of the Act vide order dated 19.02.2019 for AY 2010-11 to AY 2013-14 and draft assessment order for AY 2014-15 as under:\nAY Treatment of TP Adjustment Assessed total Demand raised\nshares premium as Income\n2010-11 189,26,79,120 189,26,79,120 134,00,32,126\n2011

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

153B r.w.s 153C r.w.s 153A of the\nAct vide order dated 19.02.2019 for AY 2010-11 to AY 2013-14\nand draft assessment order for AY 2014-15 as under:\nAY\nTreatment of\nshares\npremium as\nIncome\nTP Adjustment\nAssessed total\nincome\nDemand raised\n2010-11\n189,26,79,120\n189,26,79,120\n134,00,32,126\n2011