DEVRAJ COMPUTERS PVT LTD,CHENNAI vs. ACIT, IT(OSD), CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. Nos.3273 & 3274/Chny/2018 िनधा"रण वष"/Assessment Years: 2014-15 & 2015-16 M/S. Devraj Computers Pvt. Ltd., Vs. The Assistant Commissioner Of No. 42, Gee Gee Complex, 3Rd Floor, Income Tax, Corporate Range – 1, Mount Road, Chennai 600 002. Chennai. [Pan:Aabcd1593P] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri D. Anand, Advocate ""थ" की ओर से/Respondent By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 05.02.2024 घोषणा की तारीख /Date Of Pronouncement : 21.03.2024 आदेश /O R D E R Per V. Durga Rao: Both The Appeals Filed By The Assessee Are Directed Against Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai, Dated 27.09.2018 Relevant To The Assessment Years 2014-15 & 2015-16. In The Grounds Of Appeal, The Assessee Has Raised Following Common Grounds For Both The Assessment Years: Grounds Of Appeal 1. The Order Passed By The Learned Assistant Commissioner Of Income Tax, Corporate Range-1, Chennai 34 Is Against The Facts Of The Case & Principles Of Natural Justice. 2. The Learned Commissioner Of Income Tax (Appeals) -1 Made Arbitrary Additions Without The Right Application Of Law.

section 40A(3) of the Act at ₹.54,426/-. Similarly, assessment for the assessment year 2015-16 has been completed after disallowing a sum of ₹.14,39,276/- on account 3 I.T.A. Nos.3273 & 3274/Chny/18 of interest cost attributable to interest-free loans and advances and a sum of ₹.1,45,215

DEVRAJ COMPUTERS PVT LTD,CHENNAI vs. ACIT, IT(OSD), CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. Nos.3273 & 3274/Chny/2018 िनधा"रण वष"/Assessment Years: 2014-15 & 2015-16 M/S. Devraj Computers Pvt. Ltd., Vs. The Assistant Commissioner Of No. 42, Gee Gee Complex, 3Rd Floor, Income Tax, Corporate Range – 1, Mount Road, Chennai 600 002. Chennai. [Pan:Aabcd1593P] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri D. Anand, Advocate ""थ" की ओर से/Respondent By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 05.02.2024 घोषणा की तारीख /Date Of Pronouncement : 21.03.2024 आदेश /O R D E R Per V. Durga Rao: Both The Appeals Filed By The Assessee Are Directed Against Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai, Dated 27.09.2018 Relevant To The Assessment Years 2014-15 & 2015-16. In The Grounds Of Appeal, The Assessee Has Raised Following Common Grounds For Both The Assessment Years: Grounds Of Appeal 1. The Order Passed By The Learned Assistant Commissioner Of Income Tax, Corporate Range-1, Chennai 34 Is Against The Facts Of The Case & Principles Of Natural Justice. 2. The Learned Commissioner Of Income Tax (Appeals) -1 Made Arbitrary Additions Without The Right Application Of Law.

section 40A(3) of the Act at ₹.54,426/-. Similarly, assessment for the assessment year 2015-16 has been completed after disallowing a sum of ₹.14,39,276/- on account 3 I.T.A. Nos.3273 & 3274/Chny/18 of interest cost attributable to interest-free loans and advances and a sum of ₹.1,45,215

DCIT, CHENNAI vs. AVALON TECHNOLOGIES P. LTD.,, CHENNAI

In the result, the appeals filed by the assessee for assessment year 2009-10 in ITA No

Bench: Shri Mahavir Singhand Dr. M.L. Meena

sections 32, 40(a)(ia), 40A(3) , 43B, etc. of the Act and other specific disallowances, related to the business activity against which the Chapter VI-A deduction has been claimed, result inenhancement of the profits of the eligible business, and that deduction under Chapter VI- A is admissible on the profits so enhanced by the disallowance. 4. Accordingly, henceforth

AVALON TECHNOLOIGES (P) LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals filed by the assessee for assessment year 2009-10 in ITA No

Bench: Shri Mahavir Singhand Dr. M.L. Meena

sections 32, 40(a)(ia), 40A(3) , 43B, etc. of the Act and other specific disallowances, related to the business activity against which the Chapter VI-A deduction has been claimed, result inenhancement of the profits of the eligible business, and that deduction under Chapter VI- A is admissible on the profits so enhanced by the disallowance. 4. Accordingly, henceforth

AVALON TECHNOLOGIES (P) LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals filed by the assessee for assessment year 2009-10 in ITA No

Bench: Shri Mahavir Singhand Dr. M.L. Meena

sections 32, 40(a)(ia), 40A(3) , 43B, etc. of the Act and other specific disallowances, related to the business activity against which the Chapter VI-A deduction has been claimed, result inenhancement of the profits of the eligible business, and that deduction under Chapter VI- A is admissible on the profits so enhanced by the disallowance. 4. Accordingly, henceforth

ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI vs. AMBATTUR CLOTHING PRIVATE LIMITED, TIRUVALLUR

In the result, the appeal filed by Revenue is dismissed

Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. No.1663/Chny/2025 िनधा"रण वष"/Assessment Year: 2011-12 The Assistant Commissioner Of Vs. Ambattur Clothing Private Limited, Income Tax, 86/E2, Industrial Estate, Corporate Circle 1(1), Ambattur Industrial Estate S.O., Chennai. Ambattur, Thiruvallur 600 058. [Pan:Aaaca4127D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Rajakumar, Addl. Cit ""थ" की ओर से/Respondent By : Shri Vinay Jain, Ca सुनवाई की तारीख/ Date Of Hearing : 26.08.2025 घोषणा की तारीख /Date Of Pronouncement : 29.08.2025 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Revenue Is Directed Against The Order Dated 31.12.2024 Passed By The Ld. Commissioner Of Income Tax (Appeals)-16, Chennai For The Assessment Year 2011-12. 2. We Find That This Appeal Is Filed With A Delay Of 67 Days. The Appellant-Revenue Filed An Affidavit For Condonation Of Delay Stating The Reasons. Upon Hearing Both The Parties & On Examination Of The Said Affidavit, We Find The Reasons Stated By The Revenue Are Bonafide, Which 2

disallowance under section 14A of the Act, where the income not forming part of the total income, also making it applicable from 01.04.2022 relevant to the assessment year 2022-23. The Hon’ble High Court of Delhi, while taking into consideration the said amendment in the case of PCIT v. Era Infrastructure (India) (P.) Ltd. (supra), held that

ASSISTANT COMMISSIONER OF INCOME TAX, MADURAI vs. RAMCO INDUSTRIES LIMITED, CHENNAI

Appeals of the revenue are dismissed

disallowance of Rs.3,61,53,268/- made by the Assessing Officer under Rule\n8D of Income-tax Rules, 1962 read with section 14A of the Income-tax Act, 1961\n('the Act').\n\n3. He submits that the ITAT erred in relying on the decision of this Court in Pr.\nCIT v. IL&FS Energy Development Company

SHRIRAM FINANCE LIMITED,CHENNAI vs. DCIT, CORPORATE CIRCLE 3(1), CHENNAI, CHENNAI

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

Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. No.173/Chny/2024 िनधा"रण वष"/Assessment Year: 2020-21 Shriram Finance Limited Vs. The Deputy Commissioner Of [Formerly Known As Shriram Transport Income Tax, Finance Company Limited), Corporate Circle 3(1), Sri Towers, Plot No. 14A, South Phase, Chennai. Industrial Estate, Guindy, Chennai 600 017. [Pan: Aaacs7018R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Sivaraman, Advocate ""थ" की ओर से/Respondent By : Shri R.V. Aroon Prasad, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 25.07.2024 घोषणा की तारीख /Date Of Pronouncement : 09.08.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 29.11.2023 Passed By The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi For The Assessment Year 2020-21. 2. Ground No. 1 Is General In Nature & Requires No Adjudication.

disallowance under section 14A of the Act, where the income not forming part of the total income, also making it applicable from 01.04.2022 relevant to the assessment year 2022-23. The Hon’ble High Court of Delhi, while taking into consideration the said amendment in the case of PCIT v. Era Infrastructure (India) (P.) Ltd. (supra), held that

S.P.APPARELS LIMITED,AVANASHI vs. DCIT, TIRUPPUR

In the result, the appeal of the assessee in ITA No

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No. 1510/Mds/2015 "नधा"रण वष" /Assessment Year : 2009-10

Section 35D and decide the same in accordance with law after giving reasonable opportunity to the assessee. 16. Now coming to the revenue’s appeal in ITA No.1699/Mds/2015, the only issue arises for consideration is disallowance of speculation loss of Rs.12,23,87,167/- on account of cancellation of foreign currency forward contract. Shri M.M.Bhusari, the learned department representative submitted

DCIT, THANJAVUR vs. S.P.APPARELS, AVANASHI

In the result, the appeal of the assessee in ITA No

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No. 1510/Mds/2015 "नधा"रण वष" /Assessment Year : 2009-10

Section 35D and decide the same in accordance with law after giving reasonable opportunity to the assessee. 16. Now coming to the revenue’s appeal in ITA No.1699/Mds/2015, the only issue arises for consideration is disallowance of speculation loss of Rs.12,23,87,167/- on account of cancellation of foreign currency forward contract. Shri M.M.Bhusari, the learned department representative submitted

SANTHOME CHARITABLE SOCIETY,CHENNAI vs. THE ITO EXEMPTIONS, WARD-3, CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.613/Chny/2023 िनधा"रण वष"/Assessment Year: 2016-17 Santhome Charitable Society, Vs. The Income Tax Officer, Kalaivanar Nagar, Athipet, Ambattur, Exemptions Ward-3, Tamil Nadu 600 058. Chennai. [Pan:Aabts1184L] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri G. Baskar, Advocate & Shri P.M. Kathir, Advocate ""थ" की ओर से/Respondent By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 01.02.2024 घोषणा की तारीख /Date Of Pronouncement : 21.02.2024 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], Delhi, Dated 17.03.2023 Relevant To The Assessment Year 2016-17. 2. Brief Facts Of The Case Are That The Assessee Society Is Registered Under Section 12Aa Of The Income Tax Act, 1961 [“Act” In Short] & Filed Its Return Of Income For The Assessment Year 2016-17 On 2

section 143(3) of the Act dated 28.12.2018 by assessing total income of the assessee at ₹.1,13,63,423/- after making various additions. 3. The only issue involved in this appeal is with regard confirmation of disallowance on accumulation of ₹.26,89,215

RAJAPALAYAM MILLS LTD.,,VIRUDHUNAGAR vs. DCIT, CORPORATE CIRCLE,, MADURAI

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

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. No.1251/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 Rajapalayam Mills Limited, Vs. The Deputy Commissioner Of Post Box No. 1, Rajapalayam Mills Income Tax, Premises, P.A.C. Ramasamy Raja Corporate Circle, Salai, Rajapalayam, Madurai. Virudhunagar 626 117. [Pan: Aaacr8897F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Muralidhar, F.C.A. ""थ" की ओर से/Respondent By : Shri R. Clement Ramesh Kumar, Cit सुनवाई की तारीख/ Date Of Hearing : 12.08.2024 घोषणा की तारीख /Date Of Pronouncement : 14.08.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal By The Assessee Is Directed Against The Order Dated 30.03.2024 Passed By The Ld. Principal Commissioner Of Income Tax, Madurai Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short] For The Assessment Year 2017-18. 2. The Assessee Raised 9 Grounds Amongst Which The Only Issue Emanates For Our Consideration Is Whether The Ld. Pcit Is Justified In Directing The Assessing Officer For Working Out Disallowance Under Section 2

disallowance under section 14A of the Act. 7. Regarding the insertion of Explanation to section 14A of the Act by way of Finance Act, 2022, we find that while taking into consideration the said amendment, the Hon’ble High Court of Delhi in the case of PCIT v. Era Infrastructure (India) Ltd. (supra), held that it is settled law that

M/S. ARISTON CAPITAL ASSET HOLDINGS PVT. LTD.,,CHENNAI vs. ITO, CORPORATE WARD - 1 (4),, CHENNAI

In the result, the assessee’s appeal is treated as partly allowed for

Bench: Shri V. Durga Rao & Shri S. Jayaramanआयकर अपील सं/.I.T.A. No. 1922/Chny/2019 "नधा"रण वष"/Assessment Year : 2013-14 M/S. Ariston Capital Asset Holdings P Ltd., The Income Tax Officer, No. 12, South Mada Street, Vs. Corporate Ward – 1(4), Srinagar Colony, Chennai. Saidapet, Chennai – 600 015. [Pan: Aagca 8511M]

section 14A r.w.r. 8D and made a further disallowance at Rs. 58,61,215/-. The Ld. CIT(A) failed to appreciate

MILLENNIUM ALCOBEV PVT. LTD.,,BENGALURU vs. ACIT, CO. CIRCLE - IV (3),, CHENNAI

In the result, all the appeals stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

215, 216 & 217/Chny/2020 (िनधा"रणवष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 & 2007-08) Millennium Alcobev Private Limited ACIT (Since merged with United Breweries Ltd.) बनाम/ Company Circle IV(3), UB Tower, Level 4, 24 Vittal Mallya Road, Vs. Chennai 600 034. UB City, Bengaluru – 560 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCM-3674-M (अपीलाथ"/Appellant

MILLENNIUM ALCOBEV PVT. LTD.,,BENGALURU vs. ACIT, CO. CIRCLE - IV (3),, CHENNAI

In the result, all the appeals stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

215, 216 & 217/Chny/2020 (िनधा"रणवष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 & 2007-08) Millennium Alcobev Private Limited ACIT (Since merged with United Breweries Ltd.) बनाम/ Company Circle IV(3), UB Tower, Level 4, 24 Vittal Mallya Road, Vs. Chennai 600 034. UB City, Bengaluru – 560 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCM-3674-M (अपीलाथ"/Appellant

MILLENNIUM ALCOBEV PVT. LTD.,,BENGALURU vs. ACIT, CO. CIRCLE - IV (3),, CHENNAI

In the result, all the appeals stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

215, 216 & 217/Chny/2020 (िनधा"रणवष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 & 2007-08) Millennium Alcobev Private Limited ACIT (Since merged with United Breweries Ltd.) बनाम/ Company Circle IV(3), UB Tower, Level 4, 24 Vittal Mallya Road, Vs. Chennai 600 034. UB City, Bengaluru – 560 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCM-3674-M (अपीलाथ"/Appellant

MILLENNIUM ALCOBEV PVT. LTD.,,BENGALURU vs. ACIT, CO. CIRCLE - IV (3),, CHENNAI

In the result, all the appeals stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

215, 216 & 217/Chny/2020 (िनधा"रणवष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 & 2007-08) Millennium Alcobev Private Limited ACIT (Since merged with United Breweries Ltd.) बनाम/ Company Circle IV(3), UB Tower, Level 4, 24 Vittal Mallya Road, Vs. Chennai 600 034. UB City, Bengaluru – 560 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCM-3674-M (अपीलाथ"/Appellant

MILLENNIUM ALCOBEV PVT. LTD.,,BENGALURU vs. ACIT, CO. CIRCLE - IV (3),, CHENNAI

In the result, all the appeals stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

215, 216 & 217/Chny/2020 (िनधा"रणवष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 & 2007-08) Millennium Alcobev Private Limited ACIT (Since merged with United Breweries Ltd.) बनाम/ Company Circle IV(3), UB Tower, Level 4, 24 Vittal Mallya Road, Vs. Chennai 600 034. UB City, Bengaluru – 560 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCM-3674-M (अपीलाथ"/Appellant