BIMETAL BEARINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal filed by the assessee for the assessment year

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. Nos. 668, 669, 670 & 671/Chny/2015 िनधा"रण वष"/Assessment Years:2007-08 To 2010-11 M/S. Bimetal Bearings Limited, The Deputy Commissioner Of 18, Race Course Road, Vs. Income Tax, Large Taxpayer Unit, Coimbatore 641 018. 1775, Jawaharlal Nehru Inner Ring Road, Anna Nagar Western Extension, [Pan:Aaacb2036Q] Chennai 600 101. (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Vijayaraghavan, Advocate ""थ" की ओर से/Respondent By : Shri Ar.V. Sreenivasan, Jcit सुनवाई की तारीख/ Date Of Hearing : 02.07.2019 घोषणा की तारीख /Date Of Pronouncement : 29.08.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: These Four Appeals Filed By The Same Assessee Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 17, Chennai All Dated 30.01.2015 Relevant To The Assessment Years 2007-08, 2008-09, 2009-10 & 2010-11. Since Common Issues Have Been Raised In These Appeals, Heard Together & Are Being Disposed Of By This Common Order For The Sake Of Brevity.

disallowance. 5.1 We have heard the rival submissions. It was the submission of the ld. Counsel that the commission was paid by the assessee only for procurement of export orders and therefore, there is no need to deduct tax. By relying upon the decision in the case of CIT v. Faizan Shoes P. Ltd. 367 ITR 155

BIMETAL BEARINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal filed by the assessee for the assessment year

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. Nos. 668, 669, 670 & 671/Chny/2015 िनधा"रण वष"/Assessment Years:2007-08 To 2010-11 M/S. Bimetal Bearings Limited, The Deputy Commissioner Of 18, Race Course Road, Vs. Income Tax, Large Taxpayer Unit, Coimbatore 641 018. 1775, Jawaharlal Nehru Inner Ring Road, Anna Nagar Western Extension, [Pan:Aaacb2036Q] Chennai 600 101. (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Vijayaraghavan, Advocate ""थ" की ओर से/Respondent By : Shri Ar.V. Sreenivasan, Jcit सुनवाई की तारीख/ Date Of Hearing : 02.07.2019 घोषणा की तारीख /Date Of Pronouncement : 29.08.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: These Four Appeals Filed By The Same Assessee Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 17, Chennai All Dated 30.01.2015 Relevant To The Assessment Years 2007-08, 2008-09, 2009-10 & 2010-11. Since Common Issues Have Been Raised In These Appeals, Heard Together & Are Being Disposed Of By This Common Order For The Sake Of Brevity.

disallowance. 5.1 We have heard the rival submissions. It was the submission of the ld. Counsel that the commission was paid by the assessee only for procurement of export orders and therefore, there is no need to deduct tax. By relying upon the decision in the case of CIT v. Faizan Shoes P. Ltd. 367 ITR 155

BIMETAL BEARINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal filed by the assessee for the assessment year

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. Nos. 668, 669, 670 & 671/Chny/2015 िनधा"रण वष"/Assessment Years:2007-08 To 2010-11 M/S. Bimetal Bearings Limited, The Deputy Commissioner Of 18, Race Course Road, Vs. Income Tax, Large Taxpayer Unit, Coimbatore 641 018. 1775, Jawaharlal Nehru Inner Ring Road, Anna Nagar Western Extension, [Pan:Aaacb2036Q] Chennai 600 101. (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Vijayaraghavan, Advocate ""थ" की ओर से/Respondent By : Shri Ar.V. Sreenivasan, Jcit सुनवाई की तारीख/ Date Of Hearing : 02.07.2019 घोषणा की तारीख /Date Of Pronouncement : 29.08.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: These Four Appeals Filed By The Same Assessee Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 17, Chennai All Dated 30.01.2015 Relevant To The Assessment Years 2007-08, 2008-09, 2009-10 & 2010-11. Since Common Issues Have Been Raised In These Appeals, Heard Together & Are Being Disposed Of By This Common Order For The Sake Of Brevity.

disallowance. 5.1 We have heard the rival submissions. It was the submission of the ld. Counsel that the commission was paid by the assessee only for procurement of export orders and therefore, there is no need to deduct tax. By relying upon the decision in the case of CIT v. Faizan Shoes P. Ltd. 367 ITR 155

IDFC LIMITED,CHENNAI vs. DCIT COMPANY CIRCLE II(3), CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.877/Chny/2018 & 677/Chny/2020 निर्धारण वर्ष / Assessment Years: 2010-11 Idfc Limited, (Erstwhile Known As Infrastructure Vs. Income Tax, Development Finance Company Circle-Ii(3), Limited), Krm Tower, 8Th Floor, No.1, Harrington Road, Chetpet, Chennai – 600 031. Pan: Aaaci 2663N (अपीलार्थी/Appellant) The Dy. Commissioner Of Chennai. (प्रत्यर्थी/Respondent) आयकर अपील सं./ Ita No.878/Chny/2018 निर्धारण वर्ष / Assessment Year: 2010-11 The Dy. Commissioner Of Income Tax, Corporate Circle-2(2), Chennai Idfc Limited, (Erstwhile Known As Infrastructure Development Finance Company Vs. Limited), Krm Tower, 8Th Floor, No.1, Harrington Road, Chetpet, Chennai – 600 031. Pan: Aaaci 2663N अपीलार्थी की ओर से / Assessee By प्रत्यर्थी की ओर से /Revenue By सुनवाई की तारीख /Date Of Hearing : Shri Farookh V. Irani, Advocate : Shri A. Sasikumar, Cit : 23.07.2024 घोषणा की तारीख / Date Of Pronouncement : 30.09.2024

disallowances. The Ld. A.R, placing on reliance of the case of Madras Industrial Investment Corporation 12 SCL 139(SC) and other case laws have argued that there is continuing benefit to the business of the company over the entire period, the liability therefore, should be spread over the period of the debentures etc. 17. On Section

IDFC LIMITED,CHENNAI vs. DCIT, CO. CIRCLE - II (3),, CHENNAI

In the result, the appeal filed by the assessee in ITA

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.877/Chny/2018 & 677/Chny/2020 िनधा&रण वष& /Assessment Years: 2010-11

disallowances. The Ld. A.R, placing on reliance of the case of Madras Industrial Investment Corporation 12 SCL 139(SC) and other case laws have argued that there is continuing benefit to the business of the company over the entire period, the liability therefore, should be spread over the period of the debentures etc. ITA No.877, 878/Chny/2018 & 677/Chny/2020

DCIT CORPORATE CIRCLE 2(2), CHENNAI vs. IDFC LIMITED, CHENNAI

In the result, the appeal filed by the assessee in ITA

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.877/Chny/2018 & 677/Chny/2020 िनधा&रण वष& /Assessment Years: 2010-11

disallowances. The Ld. A.R, placing on reliance of the case of Madras Industrial Investment Corporation 12 SCL 139(SC) and other case laws have argued that there is continuing benefit to the business of the company over the entire period, the liability therefore, should be spread over the period of the debentures etc. ITA No.877, 878/Chny/2018 & 677/Chny/2020

SRI JAYAJOTHI AND COMPANY LTD.,RAJAPALAYAM vs. DCIT CORPORATE CIRCLE 2, MADURAI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Ramit Kochar & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A. Nos. 1628 & 1413/Chny/2019 िनधा"रण वष"/Assessment Years: 2014-15 & 2013-14 M/S. Sri Jayajothi Textile Mills Pvt. Ltd., The Income Tax Officer, 154, Reddiapatti Road, Vs. Corporate Ward 3, Keelarajakularaman 626 136, Madurai. Rajapalayam Taluk, Tamil Nadu. [Pan:Aabcs5352B] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri V. Srikrishnan, C.A. ""थ" की ओर से/Respondent By : Shri Guru Bashyam, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 28.11.2019 घोषणा की तारीख /Date Of Pronouncement : 23.12.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: Both The Appeals Filed By The Assessee Are Directed Against Separate Orders Of The Ld. Commissioner Of Income Tax (Appeals) 1, Madurai, Dated 16.04.2019 & 15.04.2019 Relevant To The Assessment Years 2014-15 & 2013-14 Respectively. The Only Common Ground Raised In Both The Appeals Of The Assessee Relates To Confirmation Of Disallowance Made Under Section 14A Of The Income Tax Act, 1961 [“Act” In Short) R.W. Rule 8D.

disallowance under section 14A of the Act at ₹.1,97,24,155/-. On appeal, the ld. CIT(A) upheld the disallowances

SRI JAYAJOTHI TEXTILE MILLS (P) LTD.,RAJAPALAYAM vs. ITO CORPORATE WARD 3, MADURAI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Ramit Kochar & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A. Nos. 1628 & 1413/Chny/2019 िनधा"रण वष"/Assessment Years: 2014-15 & 2013-14 M/S. Sri Jayajothi Textile Mills Pvt. Ltd., The Income Tax Officer, 154, Reddiapatti Road, Vs. Corporate Ward 3, Keelarajakularaman 626 136, Madurai. Rajapalayam Taluk, Tamil Nadu. [Pan:Aabcs5352B] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri V. Srikrishnan, C.A. ""थ" की ओर से/Respondent By : Shri Guru Bashyam, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 28.11.2019 घोषणा की तारीख /Date Of Pronouncement : 23.12.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: Both The Appeals Filed By The Assessee Are Directed Against Separate Orders Of The Ld. Commissioner Of Income Tax (Appeals) 1, Madurai, Dated 16.04.2019 & 15.04.2019 Relevant To The Assessment Years 2014-15 & 2013-14 Respectively. The Only Common Ground Raised In Both The Appeals Of The Assessee Relates To Confirmation Of Disallowance Made Under Section 14A Of The Income Tax Act, 1961 [“Act” In Short) R.W. Rule 8D.

disallowance under section 14A of the Act at ₹.1,97,24,155/-. On appeal, the ld. CIT(A) upheld the disallowances

M/S. ASHOK LEYLAND LTD.,CHENNAI vs. DCIT, NCC-8(1), LTU-II, CHENNAI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 14Aread with Rule 8D(2)(ii) of the Rule 8D(2)(ii) of the Rules, was not warranted Rules, was not warranted and is directed to be deleted. 3.3 Coming to disallowance under Rule 8D(2)(iii), it is noted that the Coming to disallowance under Rule 8D(2)(iii), it is noted that the Coming to disallowance under

SAKTHI SUGARS LIMITED,COIMBATORE vs. DCIT CORPORATE CIRCLE 1, COIMBATORE

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

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.2143/Chny/2018 "नधा"रण वष" /Assessment Year :2009-10

155,55,46,433/-. However, after calling for remand report, the CIT(Appeals) sustained the disallowance only to the extent of ₹50,20,41,708/-, which was also confirmed by this Tribunal. The disallowance of ₹1,48,320/- under Section

M/S. SAINT GOBAIN GLASS INDIA PRIVATE LIMITED,KANCHEEPURAM vs. DCIT, CHENNAI

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

Disallowance of `1,55,27,938/- under section 14A r.w.r.8D of the Rules under normal computation as well as in computing book profit under section 115JB of the Act: 4.1 During the course of assessment proceedings, it was noticed that the assessee has earned Rs. 27,44,155

PENTA MEDIA GRAPHICS LTD.,CHENNAI vs. DCIT, CHENNAI

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

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

disallowance of assessee’s claim of exemption u/s.10B is on the basis of interpretation of provisions of section and particularly insertion of sub-section 11A as inserted into section 155

ILJIN AUTOMOTIVE PRIVATE LIMITED,,KANCHIPURAM vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE 1(1), CHENNAI

In the result, appeals filed by the assessee are allowed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

disallowance of depreciation. Further, the AO has passed rectification order u/s 154 of the Act and denying MAT credit of Rs.6,64,38,277/- and stated record. For AY 2018-19: 2. Brief facts of the case is that the appellant is a Private Limited company incorporated under the companies act and is engaged in the business of manufacture

ILJIN AUTOMOTIVE PRIVATE LIMITED,KANCHIPURAM vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE 2(1), CHENNAI, CHENNAI

In the result, appeals filed by the assessee are allowed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

disallowance of depreciation. Further, the AO has passed rectification order u/s 154 of the Act and denying MAT credit of Rs.6,64,38,277/- and stated record. For AY 2018-19: 2. Brief facts of the case is that the appellant is a Private Limited company incorporated under the companies act and is engaged in the business of manufacture

ILJIN AUTOMOTIVE PRIVATE LIMITED,IRUNGATTUKOTTAI vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CORPORATE CIRCLE 1(1), ),, CHENNAI

In the result, appeals filed by the assessee are allowed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

disallowance of depreciation. Further, the AO has passed rectification order u/s 154 of the Act and denying MAT credit of Rs.6,64,38,277/- and stated record. For AY 2018-19: 2. Brief facts of the case is that the appellant is a Private Limited company incorporated under the companies act and is engaged in the business of manufacture

ACIT, LTU-2,, CHENNAI vs. ASHOK LEYLAND LIMITED, CHENNAI

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

155/- already offered ITA Nos.2330 & 2618/Chny/2019 (AY 2015-16) M/s. Ashok Leyland Ltd. :: 6 :: by the assessee, the further disallowance in terms of Rule 8D(2)(iii) comes to Rs.27,88,820/-. Hence, respectfully following the decision of Special Bench (supra), the AO is directed to verify this computation provided by the assessee and re-compute the disallowance under section

T vs. MOTOR COMPANY LTD.,CHENNAIVS.ACIT, CHENNAI

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

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकरअपीलसं./Ita No.672/Chny/2017 िनधा"रणवष"/Assessment Year: 2012-13 M/S.Tvs Motor Co. Ltd., V. The Acit, No.29, Haddows Road, Corporate Circle – 3(1), Chennai-600 006. Chennai. [Pan: Aaacs 7032 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

disallowed the payment of Rs.26,58,53,696/- for non-deduction of TDS in deduction of TDS in terms of Section 40(a)(i) of the Act, which was also confirmed by the terms of Section 40(a)(i) of the Act, which was also confirmed by the terms of Section 40(a)(i) of the Act, which was also

SARAVANAN ARUMUGAM,CHENNAI vs. ITO, CHENNAI

155 shall, as far as may be, apply in relation to the stamp duty value of such property for the purpose of sub-clause (b) as they apply for valuation of capital asset under those sections: Section 142A 1[142A. Estimationof value of assets by Valuation Officer.—(1) The Assessing Officermay, for the purposes of assessment or reassessment, make

VYASARPADI CO-OP. INDUSTRIAL ESTATE LTD.,,CHENNAI vs. ITO, CHENNAI

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri N.R.S. Ganesan & Shri Sanjay Aroraआयकर अपील सं./Ita Nos.252, 253 & 254/Mds/2017 "नधा"रण वष" / Assessment Years : 1996-97 To 1998-99

disallowed the claim of the assessee under Section 80P(2)(d) of the Act in respect of interest income received by the assessee on the fixed deposit with Tamil Nadu Industrial Co-operative Bank Ltd. The assessee subsequently filed application under Section 154 of the Act on the ground that there is an error in the order of the Assessing