GEENA GARMENTS,TIRUPPUR vs. ACIT, CIRCLE-1, TIRUPPUR, TIRUPPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

28 I.T.A. Nos.3326/Chny/19, 326 & 1014/Chny/24, 706, 768,358/Chny/22 & 94 & 1348Chny/23 imported urea, indigenous & imported P & K fertilizers, SSP including freight subsidy, reimbursement of freight, insurance charges, custom duty, handing charges, etc. With regard to the term “grant” in reference to section 2(24)(xviii) of the Act means, it is a sum of money given to a business or individual

ACIT, CIRCLE-1, , TIRUPUR vs. EASTMAN EXPORTS GLOBAL CLOTHING (P) LTD., TIRUPUR

In the result, the appeal of the assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.3326/Chny/2019 & 326/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 & 2018-19 The Assistant Commissioner Of Vs. Eastman Exports Global Clothing (P) Ltd., No. 10, 12, 2Nd Street, Kumar Income Tax, Circle 1(1), 121, Adams Buildings, 60 Feet Road, Nagar South, Tirupur 641 603. Tirupur 641 602. [Pan: Aaccc0952E] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.706/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Victus Dyeings, The Assistant Commissioner Of 410, P.N. Road, R.K. Nagar, Income Tax, Circle 1, Vs. Tirupur 641 601. Tirupur. [Pan: Aacfv4420D] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.768/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of M/S. K.M. Knit Wear, Income Tax, Circle 1, 14, E.F. Lakshmi Nagar, First Street, Vs. Tirupur. City Garden, Tirupur 641 602. [Pan: Aacfk3053B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.358/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. K.M. Knit Wear, The Assistant Commissioner Of 14, E.F. Lakshmi Nagar, First Street, Income Tax, Circle 1, Vs. City Garden, Tirupur 641 602. Tirupur. (अपीलाथ"/Appellant) (""थ"/Respondent)

28 I.T.A. Nos.3326/Chny/19, 326 & 1014/Chny/24, 706, 768,358/Chny/22 & 94 & 1348Chny/23 imported urea, indigenous & imported P & K fertilizers, SSP including freight subsidy, reimbursement of freight, insurance charges, custom duty, handing charges, etc. With regard to the term “grant” in reference to section 2(24)(xviii) of the Act means, it is a sum of money given to a business or individual

M/S. GEENA GARMENTS,TIRUPPUR vs. ACIT, CIRCLE-1,, TIRUPPUR

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

28 of the Act r.w.s. 2(24) and section 56 of the Act. On\nexamination of the said provisions, we find the reasoning of the Assessing Officer in\ntreating the sale of MLFPS as business income. In this regard, we shall examine as\nto whether the sale of scrips of MLFPS would fall under the provisions of section

THE MUSIC ACADEMY MADRAS,CHENNAI vs. DDIT, CHENNAI

Accordingly, the same is dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1098/Mds/2015 "नधा"रण वष" / Assessment Year : 2010-11 The Music Academy Madras, The Deputy Director Of Income Tax No.168 (Old No.306), Ttk Road, V. (Exemptions), Royapettah, Chennai - 600 014. Chennai - 600 034 . Pan : Aaatt 0256 B (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation in respect of asset which was used as tool for carrying out charitable object of the institution. When the asset was used as tool for carrying out the object of the charitable institution, such activity cannot be construed as a business or profession of the assessee. Therefore, Section 32 of the Act is not applicable in this case

VICTUS DYEINGS ,TIRUPUR vs. ACIT , CIRCLE-1, TIRUPUR

28 of the Act r.w.s. 2(24)\nand section 56 of the Act. On examination of the said provisions, we find\nthe reasoning of the Assessing Officer in treating the sale of MLFPS as\nbusiness income. In this regard, we shall examine as to whether the sale\nof scrips of MLFPS would fall under the provisions of section

GATES WEARS,TIRUPPUR vs. DCIT CIRCLE 1, TIRUPPUR

In the result, ITA Nos. 3326/Chny/2019, 326/Chny/2024 &\n768/Chny/2022 are dismissed; ITA No

28 of the Act r.w.s. 2(24)\nand section 56 of the Act. On examination of the said provisions, we find\nthe reasoning of the Assessing Officer in treating the sale of MLFPS as\nbusiness income. In this regard, we shall examine as to whether the sale\nof scrips of MLFPS would fall under the provisions of section

KM KNIT WEAR,TIRUPUR vs. ADIT,CPC, BANGALORE

In the result, ITA Nos. 3326/Chny/2019, 326/Chny/2024 &\n768/Chny/2022 are dismissed; ITA No

28 of the Act r.w.s. 2(24)\nand section 56 of the Act. On examination of the said provisions, we find\nthe reasoning of the Assessing Officer in treating the sale of MLFPS as\nbusiness income. In this regard, we shall examine as to whether the sale\nof scrips of MLFPS would fall under the provisions of section

SAN TEX INC.,TIRUPUR vs. ACIT CIRCLE 1, TIRUPUR

28 of the Act r.w.s. 2(24)\n23\nI.T.A. Nos.3326/Chny/19, 326 T 1014/Chny/24,\n706, 768,358/Chny/22 & 94 T 1348Chny/23\nand section 56 of the Act. On examination of the said provisions, we find\nthe reasoning of the Assessing Officer in treating the sale of MLFPS as\nbusiness income. In this regard, we shall examine as to whether the sale

ADP INDIA PRIVATE LIMITED,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1(1), CHENNAI

In the result, the appeal in ITA No

Bench: Shri George George Kand Shri Jagadishआयकर अपीलसं/.Ita Nos.: 2670, 2671, 2672 & 2698/Chny/2024 िनधा"रण वष"/Assessment Years: 2016-17, 2017-18, 2018-19 & 2020-21 Adp India Private Limited, The Deputy Commissioner Of Thamarai Tech Park, 6Th Floor, Vs. Income Tax, Sp Plot No. 16 To 20 & 20A, Thiru Vi Ka Corporate Circle 1(1), Industrial Estate, Inner Ring Road, Chennai. Guindy Industrial Estate So, Guindy, Chennai 600 032. [Pan: Aadcm-5547-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Sandeep Bagmar, Advocate ""यथ" क" ओर से/Respondent By : Shri V. Justin, Cit & Ms. R. Anita, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 08.05.2025 घोषणा क" तारीख/Date Of Pronouncement : 21.05.2025 आदेश/ O R D E R Per George George K: These Four Appeals Filed At The Instance Of The Assessee Are Directed Against Four Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi (All Dated 21.08.2024) Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2016-17, 2017-18, 2018-19 & 2020-21. Ita Nos.2670 To 2672 & 2698/Chny/2024

depreciation on goodwill, which was confirmed by the CIT(A). Thus, we set aside the order of the CIT(A) and the addition made by the Assessing Officer stands deleted for all the assessment years under consideration. ITA Nos.2670 to 2672 & 2698/Chny/2024 18. The next ground raised by the assessee in ground Nos. 3.1 to 3.6 for the assessment year

ADP INDIA PRIVATE LIMITED,CHENNAI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal in ITA No

Bench: Shri George George Kand Shri Jagadishआयकर अपीलसं/.Ita Nos.: 2670, 2671, 2672 & 2698/Chny/2024 िनधा"रण वष"/Assessment Years: 2016-17, 2017-18, 2018-19 & 2020-21 Adp India Private Limited, The Deputy Commissioner Of Thamarai Tech Park, 6Th Floor, Vs. Income Tax, Sp Plot No. 16 To 20 & 20A, Thiru Vi Ka Corporate Circle 1(1), Industrial Estate, Inner Ring Road, Chennai. Guindy Industrial Estate So, Guindy, Chennai 600 032. [Pan: Aadcm-5547-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Sandeep Bagmar, Advocate ""यथ" क" ओर से/Respondent By : Shri V. Justin, Cit & Ms. R. Anita, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 08.05.2025 घोषणा क" तारीख/Date Of Pronouncement : 21.05.2025 आदेश/ O R D E R Per George George K: These Four Appeals Filed At The Instance Of The Assessee Are Directed Against Four Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi (All Dated 21.08.2024) Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’). The Relevant Assessment Years Are 2016-17, 2017-18, 2018-19 & 2020-21. Ita Nos.2670 To 2672 & 2698/Chny/2024

depreciation on goodwill, which was confirmed by the CIT(A). Thus, we set aside the order of the CIT(A) and the addition made by the Assessing Officer stands deleted for all the assessment years under consideration. ITA Nos.2670 to 2672 & 2698/Chny/2024 18. The next ground raised by the assessee in ground Nos. 3.1 to 3.6 for the assessment year

S.ARJUN,CHENNAI vs. ACIT NON CORPORATE WARD 20(1), CHENNAI

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

depreciation and allowances are dealt with in section 32. Therefore, Parliament has used the expression " any expenditure" in section 37 to cover both. Therefore, the expression " expenditure" as used in section 37 ITA No.2220/CHNY /2018 :- 7 -: may, in the circumstances of a particular case, cover an amount which is really a " loss" even though the said amount has not gone

ABAN SINGAPORE PTE LIMITED,CHENNAI vs. DCIT INTL TAX 1(1), CHENNAI

In the result, the appeal of assessee is allowed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.500/Chny/2025 Assessment Years: 2022-23 Aban Singapore Pte Limited Deputy Commissioner Of Income Room No.8713, Bsnl Building, Tax, 4Th Floor, Bsnl Towers, Intl Tax-1(1), No.16, Greams Road, Chennai. Chennai [Pan: Aaqca2845Q]

28 to 41 and sections 43 and 43A, in the case of an assessee 30[, being a non-resident,] engaged in the business of providing services or facilities in connection with, or supplying plant and machinery on hire used, or to be used, in the prospecting for, or extraction or production 31 of, mineral oils 31, a sum equal

M/S. RAJA MUTHIAH CHETTIAR CHARITABLE AND EDUCATIONAL TRUST,CHENNAI vs. DDIT, CHENNAI

In the result, the appeal of the assessee stands dismissed

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

depreciation in respect of asset which was used as tool for carrying out charitable object of the institution. When the asset was used as tool for carrying out the object of the charitable institution, such 15 I.T.A. No.2129/Mds/2016 activity cannot be construed as a business or profession of the assessee. Therefore, Section 32 of the Act is not applicable

M/S. SUN EDITION SOLAR POWER INDIA PVT. LTD.,,CHENNAI vs. DCIT, CORPORATE CIRCLE - 6 (2),, CHENNAI

In the result, the appeals filed by the assessee for the assessment years 2013-14, 2014-15 and 2015-16 are allowed and the appeal filed by the Revenue for the assessment year 2015-16 is dismissed

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

section 144A of the Act to come to the conclusion that depreciation on goodwill is not eligible because the assessee has accounted goodwill towards difference between value of shares issued to Demerged company and net value of assets and liabilities taken over from demerged company. The relevant findings are as under: 4. Depreciation on Goodwill: 4.1 During the course

M/S SUN EDISON SOLAR POWER INDIA PVT LTD,CHENNAI vs. DCIT CORPORATE CIRCLE 6 (2), CHENNAI

In the result, the appeals filed by the assessee for the assessment years 2013-14, 2014-15 and 2015-16 are allowed and the appeal filed by the Revenue for the assessment year 2015-16 is dismissed

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

section 144A of the Act to come to the conclusion that depreciation on goodwill is not eligible because the assessee has accounted goodwill towards difference between value of shares issued to Demerged company and net value of assets and liabilities taken over from demerged company. The relevant findings are as under: 4. Depreciation on Goodwill: 4.1 During the course

ACIT CORPORATE CIRCLE-6(2), CHENNAI vs. M/S SUN EDISON SOLAR POWER INDIA PVT LTD, CHENNAI

In the result, the appeals filed by the assessee for the assessment years 2013-14, 2014-15 and 2015-16 are allowed and the appeal filed by the Revenue for the assessment year 2015-16 is dismissed

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

section 144A of the Act to come to the conclusion that depreciation on goodwill is not eligible because the assessee has accounted goodwill towards difference between value of shares issued to Demerged company and net value of assets and liabilities taken over from demerged company. The relevant findings are as under: 4. Depreciation on Goodwill: 4.1 During the course

M/S SUN EDISON SOLAR POWER INDIA PVT LTD,CHENNAI vs. ITO, CORPORATE WARD - 6 (3),, CHENNAI

In the result, the appeals filed by the assessee for the assessment years 2013-14, 2014-15 and 2015-16 are allowed and the appeal filed by the Revenue for the assessment year 2015-16 is dismissed

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

section 144A of the Act to come to the conclusion that depreciation on goodwill is not eligible because the assessee has accounted goodwill towards difference between value of shares issued to Demerged company and net value of assets and liabilities taken over from demerged company. The relevant findings are as under: 4. Depreciation on Goodwill: 4.1 During the course

M/S. SAKTHI FOUNDATION,CHENNAI vs. DCIT, CHENNAI

In the result, both the appeals of the assessee stand dismissed

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

depreciation in respect of asset which was used as tool for carrying out charitable object of the institution. When the asset was used as tool for carrying out the object of the charitable institution, such activity cannot be construed as a business or profession of the assessee. Therefore, Section 32 of the Act is not applicable in this case

SOUTHER INDIA MILLS ASSOCIATION,CHENNAI vs. DCIT, COIMBATORE

In the result, both the appeals of the assessee stand dismissed

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

depreciation in respect of asset which was used as tool for carrying out charitable object of the institution. When the asset was used as tool for carrying out the object of the charitable institution, such activity cannot be construed as a business or profession of the assessee. Therefore, Section 32 of the Act is not applicable in this case