ITO WARD 1, PUDUCHERRY vs. LES ATELIERS PONDICHERRY (P) LTD., PONDICHERRY

In the result, appeal filed by the assessee for assessment

Bench: Shri Mahavir Singh, Vice- & Shri G.Manjunatha

69 can be invoked only when the twin conditions stipulated in the section are satisfied. One. Investment are not recorded in the books of accounts and other, the assessee does not offer explanation about the nature and the source of the investments or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory

LES ATELIERS DE PONDICHERRY PRIVATE LIMITED,CHENNAI vs. ITO WARD 1, PUDUCHERRY

In the result, appeal filed by the assessee for assessment

Bench: Shri Mahavir Singh, Vice- & Shri G.Manjunatha

69 can be invoked only when the twin conditions stipulated in the section are satisfied. One. Investment are not recorded in the books of accounts and other, the assessee does not offer explanation about the nature and the source of the investments or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory

R STAHL PRIVATE LIMITED,KANCHEEPURAM vs. DCIT, CORPORATE CIRCLE-5(2), CHENNAI

Appeal is partly allowed

Bench: Shri G. Manjunatha & Shri Rahul Chaudharyआयकरअपीलसं./I.T.A No.:55/Chny/2018 िनधा"रणवष"/Assessment Year: 2013 - 2014

Section 92CA(4) of the Act on 31.10.2017 making transfer pricing addition of INR 2,63,22,674/- to arrive at total assessed income of INR 3,78,43,383/- that was first set off against unabsorbed depreciation of INR 2,09,40,303/- and thereafter, against brought forward business losses of INR 1,69

OLYMPIA TECH PARK PRIVATE LIMITED,CHENNAI vs. PCIT - 4 , CHENNAI

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

Bench: Shri V. Durga Rao & Dr. Manish Boradआयकर अपील सं./I.T.A. No.922/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 Olympia Tech Park (Chennai) Vs. The Principal Commissioner Of Private Limited, No. 1, Sidco Income Tax, Chennai-4, Industrial Estate, Guindy, Chennai. Chennai 600 032. [Pan:Aabco8102F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate ""थ" की ओर से/Respondent By : Shri M. Rajan, Cit सुनवाई की तारीख/ Date Of Hearing : 20.04.2023 घोषणा की तारीख /Date Of Pronouncement : 27.04.2023 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 -4, Chennai, Dated 25.03.2022 Relevant To The Assessment Year 2017-18 Passed Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

section 263 of the Act, after examining the assessment records, the ld. PCIT has noticed that the assessee has claimed depreciation of ₹.17,41,16,411/- @ 25% on opening WDV of ₹.69

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.VANNIAPERUMAL & SONS,VIRUDHUNAGAR vs. PCIT-2, CHENNAI, CHENNAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

In the result, the appeals of the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

ANNADURAI BALAKRISHNAN,ERODE vs. ITO, WARD-2(5), ERODE

The appeal stands partly allowed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita No.499/Chny/2024 (िनधा"रणवष" / Assessment Year: 2013-2014) Annadurai Balakrishnan Vs. The Income Tax Officer, 5/95, Periathottam, Ward 2(5) Oricherry Pudur P.O., Erode Bhavani, Erode 638 315. [Pan: Anipa 8909M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. M. Karunakaran, Advocate ""यथ" क" ओर से /Respondent By : Shri. K. Karthikeyan, Irs, Addl. Cit. सुनवाई क" तार"ख/Date Of Hearing : 15.10.2024 घोषणा क" तार"ख /Date Of Pronouncement : 04.11.2024 आदेश / O R D E R Per Manu Kumar Giri ()

section 69 may be deleted and justice rendered. As is evident, the sole issue that arises for our consideration is addition made by Ld. AO as unexplained asset for Rs.17.96 Lacs. 3. Brief facts are that the assessee did not file return of income. Pursuant to the receipt of information that the assessee deposited cash of Rs.31.25 Lacs

M/S T vs. MOTOR COMPANY LIMITED,CHENNAIVS.ACIT CORPORATE CIRCLE 3 (1), CHENNAI

In the result, the appeal of the Revenue and the assessee are\ndecided as under:-\n\n| ITA Nos\n| Assessment\nYear\nResult\n| IT(TP)A No

69,67,000/- on account of management support services.\n\n8.0 The next issue raised by the revenue is regarding the action of Ld. CIT(A) in deleting an addition of Rs.16,71,32,882/- made by the Ld.AO on claim of additional depreciation. As per the brief factual matrix, the Ld.AO noted that the assessee had claimed additional depreciation

DCIT LTU-1 , CHENNAI vs. MAHINDRA HOLIDAYS & RESORTS (P) LTD., CHENNAI

In the result the appeals of the assessee i

Bench: Shri Mahavir Singh, Vp & Shri Arun Khodpia, Am आयकर अपील आयकर अपील संसंसंसं./Ita Nos.936 To 941/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1012/Chny/2019 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2009-2010 To 2015-2016) वष" M/S Mahindra Holidays & Resorts Ltd Vs The Dcit (Ltu), Chennai-600001 Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. & आयकर अपील आयकर अपील संसंसंसं./Ita Nos.942 To 944/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1089/Chny/2018 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2011-2012 To 2014-2015) वष" The Dcit (Ltu), Chennai-600001 Vs M/S Mahindra Holidays & Resorts Ltd Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" ..

depreciation schedule as depreciation/amortization was not claimed on the same. ii) We have clarified the same along with copies of the relevant pages of the Form 3GI) in the earlier paragraph. iii) There is no provision for depreciation on land and hence was not shown in the Form 3CD. This is in itself is a proof that we have

DCIT LTPU 1, CHENNAI vs. M/S MAHINDRA HOLIDAYS & RESORTS (P) LTD, CHENNAI

In the result the appeals of the assessee i

Bench: Shri Mahavir Singh, Vp & Shri Arun Khodpia, Am आयकर अपील आयकर अपील संसंसंसं./Ita Nos.936 To 941/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1012/Chny/2019 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2009-2010 To 2015-2016) वष" M/S Mahindra Holidays & Resorts Ltd Vs The Dcit (Ltu), Chennai-600001 Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. & आयकर अपील आयकर अपील संसंसंसं./Ita Nos.942 To 944/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1089/Chny/2018 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2011-2012 To 2014-2015) वष" The Dcit (Ltu), Chennai-600001 Vs M/S Mahindra Holidays & Resorts Ltd Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" ..

depreciation schedule as depreciation/amortization was not claimed on the same. ii) We have clarified the same along with copies of the relevant pages of the Form 3GI) in the earlier paragraph. iii) There is no provision for depreciation on land and hence was not shown in the Form 3CD. This is in itself is a proof that we have

MAHINDRA HOLIDAYS AND RESORTS INDIA LTD.,CHENNAI vs. DCIT LTU 1 , CHENNAI

In the result the appeals of the assessee i

Bench: Shri Mahavir Singh, Vp & Shri Arun Khodpia, Am आयकर अपील आयकर अपील संसंसंसं./Ita Nos.936 To 941/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1012/Chny/2019 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2009-2010 To 2015-2016) वष" M/S Mahindra Holidays & Resorts Ltd Vs The Dcit (Ltu), Chennai-600001 Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. & आयकर अपील आयकर अपील संसंसंसं./Ita Nos.942 To 944/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1089/Chny/2018 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2011-2012 To 2014-2015) वष" The Dcit (Ltu), Chennai-600001 Vs M/S Mahindra Holidays & Resorts Ltd Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" ..

depreciation schedule as depreciation/amortization was not claimed on the same. ii) We have clarified the same along with copies of the relevant pages of the Form 3GI) in the earlier paragraph. iii) There is no provision for depreciation on land and hence was not shown in the Form 3CD. This is in itself is a proof that we have

MAHINDRA HOLIDAYS & RESORTS INDIA LTD.,CHENNAI vs. DCIT (LTU) , CHENNAI

In the result the appeals of the assessee i

Bench: Shri Mahavir Singh, Vp & Shri Arun Khodpia, Am आयकर अपील आयकर अपील संसंसंसं./Ita Nos.936 To 941/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1012/Chny/2019 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2009-2010 To 2015-2016) वष" M/S Mahindra Holidays & Resorts Ltd Vs The Dcit (Ltu), Chennai-600001 Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. & आयकर अपील आयकर अपील संसंसंसं./Ita Nos.942 To 944/Chny/2018 आयकर आयकर अपील अपील & आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita Nos.1089/Chny/2018 अपील (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years:2011-2012 To 2014-2015) वष" The Dcit (Ltu), Chennai-600001 Vs M/S Mahindra Holidays & Resorts Ltd Mahindra Towers, 2Nd Floor, 17/18, Pattulos Road, Chennai-600002 Pan No. :Aaacm 6469 L (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" ..

depreciation schedule as depreciation/amortization was not claimed on the same. ii) We have clarified the same along with copies of the relevant pages of the Form 3GI) in the earlier paragraph. iii) There is no provision for depreciation on land and hence was not shown in the Form 3CD. This is in itself is a proof that we have