DCIT, CEN CIR 2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

In the result, both the appeals of the Revenue are dismissed and

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

disallowance was made by the AO on the incorrect pretext of non-availability of details. 8.7 We now proceed to examine the merits of the impugned claim of bad debts. As per the provisions of section 36(1)(vii) of the Act which ITA Nos.1251 & 1252/Chny/2025 & CO Nos.43 & 44/Chny/2025 (AYs 2021-22 & 2022-23) Jayapriya Company :: 13 :: deals with allowability

DCIT, CC2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

In the result, both the appeals of the Revenue are dismissed and

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

disallowance was made by the AO on the incorrect pretext of non-availability of details. 8.7 We now proceed to examine the merits of the impugned claim of bad debts. As per the provisions of section 36(1)(vii) of the Act which ITA Nos.1251 & 1252/Chny/2025 & CO Nos.43 & 44/Chny/2025 (AYs 2021-22 & 2022-23) Jayapriya Company :: 13 :: deals with allowability

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act from its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act from its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. R. Raghunatha, Hon'Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 (निर्धारण वर्ष / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Cognizant Technology Solutions Vs The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai - 600 096. (प्रत्यर्थी/Respondent) Pan: Aaacd 3312M (अपीलार्थी/Appellant) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 (निर्धारण वर्ष / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) The Asst. Commissioner Of Vs Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai - 600 096. Pan: Aaacd 3312M (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) निधारिती की ओर से/Assessee By राजस्व की ओर से /Revenue By : Shri N.V. Balaji, Advocate : Shri R. Clement Ramesh Kumar, Cit & Ms. Anitha, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 11.03.2025 घोषणा की तारीख/Date Of Pronouncement : 16.05.2025 - 2 -

1: i.e Disallowance under section 14A of the Income-tax Act, 1961 ('the Act'): Assessment Year Appeal by Ground No. AY 2010-11 Assessee (ITA No. 1193/CHNY/2024) 2 to 5 AY 2011-12 Assessee (ITA No. 1194/Chny/2024) 2 to 6 AY 2012-13 Assessee (ITA No. 1205/CHNY/2024) 2 to 5 AY 2013-14 Assessee (ITA No. 1206/CHNY/2024

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1),, CHENNAI

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs Cognizant Technology Solutions The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs The Asst. Commissioner Of Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent)

1: i.e Disallowance under section 14A of the Income-tax Act, 1961 (‘the Act’): Assessment Appeal by Ground Year No. AY 2010-11 Assessee (ITA No. 1193/CHNY/2024) 2 to 5 AY 2011-12 Assessee (ITA No. 1194/Chny/2024) 2 to 6 AY 2012-13 Assessee (ITA No. 1205/CHNY/2024) 2 to 5 AY 2013-14 Assessee (ITA No. 1206/CHNY/2024

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1),, CHENNAI

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs Cognizant Technology Solutions The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs The Asst. Commissioner Of Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent)

1: i.e Disallowance under section 14A of the Income-tax Act, 1961 (‘the Act’): Assessment Appeal by Ground Year No. AY 2010-11 Assessee (ITA No. 1193/CHNY/2024) 2 to 5 AY 2011-12 Assessee (ITA No. 1194/Chny/2024) 2 to 6 AY 2012-13 Assessee (ITA No. 1205/CHNY/2024) 2 to 5 AY 2013-14 Assessee (ITA No. 1206/CHNY/2024

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]

disallowed by the ld. Assessing Officer. Now before us, the ld. Authorised Representative strongly 5. assailing the orders of the lower authorities submitted that assessee had specifically claimed before the lower authorities that the claim, alternatively had to be allowed as a business loss. As per the ld. Authorised Representative, the advances having being given to a company which

M/S. UPDATER SERVICES LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-2(3), CHENNAI

In the result, the grounds of appeal raised by both the assessee and the Revenue, as well as the grounds raised in the cross-objections filed by the assessee, are treated as allowed for statistical...

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1339 /Chny/2025 िनधा#रण वष# / Assessment Year: 2017-18 M/S. Updater Services Limited (Formerly Dcit, Known As Updater Services Private Vs. Central Circle -2(3), Limited), No.2/302-A, Uds Salai, Chennai. Off Old Mahabalipuram Road, Thoraipakkam, Chennai – 600 097. [Pan:Aaacu-6845-J] (अपीलाथ%/Appellant) (&'थ%/Respondent)

145 304 2.1.2. Valuation undertaken by the Company is in adherence with Rule 11UA of the Income Tax Rules 1962 ('the Rules’) • To determine deemed income under Section 56(2)(viia) of the Act, section prescribes a valuation methodology under Rule 11UA of the Rules. As per Rule 11UA(1)(c) provides that the FMV of unquoted shares

ACIT, CHENNAI vs. UPDATER SERVICES LIMITED, CHENNAI

In the result, the grounds of appeal raised by both the assessee and the Revenue, as well as the grounds raised in the cross-objections filed by the assessee, are treated as allowed for statistical...

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1339 /Chny/2025 िनधा#रण वष# / Assessment Year: 2017-18 M/S. Updater Services Limited (Formerly Dcit, Known As Updater Services Private Vs. Central Circle -2(3), Limited), No.2/302-A, Uds Salai, Chennai. Off Old Mahabalipuram Road, Thoraipakkam, Chennai – 600 097. [Pan:Aaacu-6845-J] (अपीलाथ%/Appellant) (&'थ%/Respondent)

145 304 2.1.2. Valuation undertaken by the Company is in adherence with Rule 11UA of the Income Tax Rules 1962 ('the Rules’) • To determine deemed income under Section 56(2)(viia) of the Act, section prescribes a valuation methodology under Rule 11UA of the Rules. As per Rule 11UA(1)(c) provides that the FMV of unquoted shares

M/S. VAASAUTOMATION PRIVATE LIMITED,KANCHIPURM vs. ACIT, COPRPORATE CIRCLE-3(2), CHENNAI

In the result, all the grounds of appeal raised by the assesse are dismissed

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.140/Chny/2024 निर्धारण वर्ा /Assessment Years: - 2015-16 M/S.Vaasautomation India Pvt Ltd., The Asst.Commissioner Of Income Plot No.H18 & H19, Sipcot Industrial Tax(Osd), Park, Vallam Vadagal, Echoor Post, Corporate Circle-3(2), Sriperumbudur Taluk, Chennai Kancheepuram Dist, Kanchipuram-631604. [Pan: Aaach2759N] (अपीलार्थी/Assesse) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assesse By : Shri N.Venkatasubramanian, C.A, प्रत्यर्थी की ओर से /Respondent By : Shri P.Sajit Kumar, Jcit सुनवाई की तारीख/Date Of Hearing : 04.07.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024

disallowance of bad debts claimed, may be deleted. 5. The appellant craves, leave to add, alter, amend or vary and / or withdraw any or all of the aforesaid grounds of appeal or at time of hearing of the above appeal. 2.0 The assesse has raised grounds of appeal 1 to 4 which all are contesting the action of the Ld.CIT

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita Nos.1254, 1255, 1258, 1260/Chny/2025 निर्धारणवर्ष/Assessment Years: 2014-15 To 2017-18 The Dcit, Central Circle-2(2), Chennai. (अपीलार्थी/Appellant) V. M/S. Southern Agrifurane Industries Pvt Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita Nos.1233, 1235, 1237, 1238 /Chny/2025 निर्धारणवर्ष/Assessment Years: 2014-15 To 2017-18 M/S. Southern Agrifurane- V. The Dcit, Industries Pvt Ltd Central Circle-2(2), Chennai. Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख /Date Of Pronouncement (प्रत्यर्थी/Respondent) : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

disallowances on the basis of the incriminating materials seized during the course of search at the appellant's premises as well as the materials seized during the course of search at M/s. SNJ Group of concerns. Therefore, in the absence of such findings, the initiation of proceedings u/s 153C

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

section 92 of the Act. 5.4.1 The DRP in the aforesaid order has held that “In all the international financial transactions, the rate of interest is to be considered at LIBOR rates and not at the rates at which the banks are lending / charging in India. Therefore, the assessee's claim of 6% interest is not adequate / comparable. Further

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

section 92 of the Act. 5.4.1 The DRP in the aforesaid order has held that “In all the international financial transactions, the rate of interest is to be considered at LIBOR rates and not at the rates at which the banks are lending / charging in India. Therefore, the assessee's claim of 6% interest is not adequate / comparable. Further

SIVA INDUSTRIES AND HOLDINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

section 92 of the Act. 5.4.1 The DRP in the aforesaid order has held that “In all the international financial transactions, the rate of interest is to be considered at LIBOR rates and not at the rates at which the banks are lending / charging in India. Therefore, the assessee's claim of 6% interest is not adequate / comparable. Further

DCIT, CHENNAI vs. SIVA VENTURES LIMITED, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

section 92 of the Act. 5.4.1 The DRP in the aforesaid order has held that “In all the international financial transactions, the rate of interest is to be considered at LIBOR rates and not at the rates at which the banks are lending / charging in India. Therefore, the assessee's claim of 6% interest is not adequate / comparable. Further

DCIT CC-2(1), CHENNAI vs. M/S EVERSENDAI CONSTRUCTION PRIVATE LIMITED, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.965/Chny/2020 िनधा"रण वष"/Assessment Year: 2017-18 The Deputy Commissioner Of Vs. M/S. Eversendai Construction Private Limited, No. 1 & 2, The Lords, 5Th Floor, Income Tax, Corporate Circle 2(1), Room No. 511, 5Th Floor, Wanaparthy Jawaharlal Nehru Road, Guindy, Block, No. 121, M.G. Road, Chennai 600 032. Chennai 600 034. [Pan:Aacce2174N] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri G. Johnson, Addl. Cit ""थ" की ओर से/Respondent By : Shri S.P. Chidambaram, Advocate सुनवाई की तारीख/ Date Of Hearing : 12.04.2022 घोषणा की तारीख /Date Of Pronouncement : 05.05.2022 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 6, Chennai Dated 09.09.2020 Relevant To The Assessment Year 2017-18. 2. The Appeal Filed By The Revenue Is Delayed By 9 Days In Filing The Appeal Before The Tribunal Due To Outbreak Of Covid-19 Pandemic & Accordingly, The Delay Is Condoned & Admitted The Appeal For Adjudication.

disallowance could be made in view of the provisions of Section 43B as amended by Finance Act, 2003. 6. In the present case, the assessee had remitted the employees contribution beyond the due date for payment, but within the due date for filing the return of income. Hence, following the abovesaid decisions, we find no reason to differ with

MEDOPHARMPRIVATE LTD,CHENNAI vs. ACIT,CPC, BANGALORE

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.54/Chny/2022 िनधा"रण वष"/Assessment Year: 2018-19 M/S. Medopharm Private Ltd., The Assistant Commissioner Of 25, Puliyur 2Nd Main Road, Trustpuram, Vs. Income Tax, Cpc, Kodambakkam, Chennai 600 024. Bengaluru 560 500. [Pan:Aadcm9459R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri M. Karunakaran, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 21.03.2022 घोषणा की तारीख /Date Of Pronouncement : 29.03.2022 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), New Delhi Dated 15.12.2021 Relevant To The Assessment Year 2018-19. 2. Brief Facts Of The Case Are That The Assessee Filed Its Return Of Income For The Assessment Year 2018-19 On 22.10.2018 Admitting Nil Income. The Cpc, Bengaluru Has Completed The Assessment Under 2

disallowance could be made in view of the provisions of Section 43B as amended by Finance Act, 2003. 6. In the present case, the assessee had remitted the employees contribution beyond the due date for payment, but within the due date for filing the return of income. Hence, following the abovesaid decisions, we find no reason to differ with

FRANCH EXPRESS COURIER PVT LTD,CHENNAI vs. THE CIT(A),NFAC, DELHI

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

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No.523/Chny/2021 िनधा"रण वष"/Assessment Year: 2019-20 M/S. Franch Express Courier Pvt. Ltd., The Assistant Director Of No. 199, Hariyan Street, C-Pallavaram, Vs. Income Tax, Cpc, Chennai 600 043. Bengaluru 560 500. [Pan:Aadcf3624P] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Ms. Vandana Vyas, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 31.01.2022 घोषणा की तारीख /Date Of Pronouncement : 10.02.2022 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), New Delhi Dated 28.09.2021 Relevant To The Assessment Year 2019-20. 2. Brief Facts Of The Case Are That The Assessee Filed Its Return Of Income For The Assessment Year 2019-20 On 30.10.2019 Declaring A Total Income Of ₹.39,17,200/-. The Cpc, Bengaluru Has Completed The 2

disallowance could be made in view of the provisions of Section 43B as amended by Finance Act, 2003. 6. In the present case, the assessee had remitted the employees contribution beyond the due date for payment, but within the due date for filing the return of income. Hence, following the abovesaid decisions, we find no reason to differ with