ACIT CORPORATE CIRCLE 2, COIMBATORE vs. LATE SHRI NAREN RAJAN, REP.BY L/H SMT. PADMINI V.R, COIMBATORE

In the result, the appeal filed by the assessee for assessment year 2012-13 is partly allowed and appeal filed by the Revenue for assessment year 2012-13 is dismissed

Bench: Shri Mahavir Singh & Shri G. Manjunatha

section 2(22)(e) of the Act does not arise. The CIT(A) without appreciating the facts, has confirmed additions made by the AO. Hence, we set aside the order of the ld.CIT(A) and direct the AO to delete additions made towards deemed dividend u/s.2(22)(e) of the Act towards advance received from M/s Tristar Accommodation Limited

ALBERT & CO. P LTD. ,CHENNAI vs. ITO CORPORATE WARD 6(1) , CHENNAI

Appeal is partly allowed

Bench: Shri G. Manjunatha & Shri Rahul Chaudhary

disallowance under Section 40(a)(ia) of the Act amounting to INR.89,11,904/- and INR.1,84,18,116/- for the Assessment Year 2013-14 and 2014-15, respectively. 22

ALBERT & CO. P. LTD.,CHENNAI vs. ITO CORPORATE WARD 6(1), CHENNAI

Appeal is partly allowed

Bench: Shri G. Manjunatha & Shri Rahul Chaudhary

disallowance under Section 40(a)(ia) of the Act amounting to INR.89,11,904/- and INR.1,84,18,116/- for the Assessment Year 2013-14 and 2014-15, respectively. 22

ALBERT & CO. P. LTD.,CHENNAI vs. ITO CORPORATE WARD 6(1), CHENNAI

Appeal is partly allowed

Bench: Shri G. Manjunatha & Shri Rahul Chaudhary

disallowance under Section 40(a)(ia) of the Act amounting to INR.89,11,904/- and INR.1,84,18,116/- for the Assessment Year 2013-14 and 2014-15, respectively. 22

JCIT (OSD), CC - 1(1),, CHENNAI vs. M/S. ABAN INVESTMENT PVT. LTD.,, 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.380/Chny/2020 िनधा"रण वष"/Assessment Years: 2013-14 The Joint Commissioner Of Vs. M/S. Aban Investments P. Ltd., Income Tax (Osd), 113, Janpriya Crest, Pantheon Road, Corporate Circle 1(1), Chennai 600 008. Chennai 600 034. [Pan: Aaaca2926J] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri G. Johnson, Addl. Cit ""थ" की ओर से/Respondent By : Shri Saroj Kumar Parida, Advocate सुनवाई की तारीख/ Date Of Hearing : 05.04.2022 घोषणा की तारीख /Date Of Pronouncement : 08.06.2022 आदेश /O R D E R Per V. Durga Rao: The Appeal Filed By The Revenue Are Directed Against Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai Dated 16.12.2019 Relevant To The Assessment Year 2013-14. The First Ground Raised In The Appeal Of The Revenue Relates To Restriction Of Disallowance Made Under Section 14A R.W. Rule 8D.

disallowances under section 14A of the Act amounting to ₹.3,40,39,003/- and a sum of ₹.1,19,00,031/- was held as deemed dividend within the meaning of section 2(22

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

22 -: ITA Nos.1417 & 1421/Chny/2016 92CA(4) in which the following disallowances / additions were made in the assessee’s case Disallowance of interest expense under section

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

22 -: ITA Nos.1417 & 1421/Chny/2016 92CA(4) in which the following disallowances / additions were made in the assessee’s case Disallowance of interest expense under section

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

22 -: ITA Nos.1417 & 1421/Chny/2016 92CA(4) in which the following disallowances / additions were made in the assessee’s case Disallowance of interest expense under section

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

22 -: ITA Nos.1417 & 1421/Chny/2016 92CA(4) in which the following disallowances / additions were made in the assessee’s case Disallowance of interest expense under section

ACIT CORPORATE CIRCLE 6(1), CHENNAI vs. RATHINAM THIRUPATHISWAMY, CHENNAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri N.R.S. Ganesan & Shri A.Mohan Alankamonyआयकर अपील सं./I.T.A.No.3136/Chny/2017 (िनधा"रण वष" / Assessment Year: 2014-15) Vs Smt. Rathinam Thirupathiswamy, The Asst. Commissioner Of Income Tax, No.152, Peters Road, Corporate Circle 6(1), Chennai – 600 086. Chennai. Pan: Aadpt7758D (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri V. Nandakumar, Jcit अपीलाथ" क" ओर से/ Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : 14.05.2018 सुनवाई क" तारीख/Date Of Hearing : 12.06.2018 घोषणा क" तारीख /Date Of Pronouncement

disallowance of sales promotion expenses. 4. Addition of Rs.2,77,98,930/- on account of deemed dividend U/s.2(22)(e) of the Act:- During the course of scrutiny assessment proceedings, it was observed by the Ld.AO that the assessee is a substantial shareholder in the company M/s. Samba Publishing Co. Pvt. Ltd., holding 77.5% of the shares. It was also

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 -

22. We, therefore, dispose of the present appeal by answering question of law in favour of the Assessee and against the Revenue and by holding that the disallowance under rule 8D of the IT Rules read with Section

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)

22. We, therefore, dispose of the present appeal by answering question of law in favour of the Assessee and against the Revenue and by holding that the disallowance under rule 8D of the IT Rules read with Section

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)

22. We, therefore, dispose of the present appeal by answering question of law in favour of the Assessee and against the Revenue and by holding that the disallowance under rule 8D of the IT Rules read with Section

M.KIRAN KUMAR,CHENNAI vs. ACIT CENTRAL CIRCLE-1(4), CHENNAI

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

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

section 2(22)(e) are not invocable in the facts and circumstances of the case. 10.The Commissioner of Income Tax (Appeals) has erred in upholding that, the conclusion of the Assessing Officer erred in concluding that the appellant had indirectly borrowed the funds of MIs. Lalithaa Jewellery Mart Pvt. Ltd. through the books of M/s. Infinity Jewellers and MIs. Mariyam

DCIT, CHENNAI vs. ABAN INVESTMENTS P LTD., CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.933, 934 & 935/Chny/2017 िनधा"रण वष"/Assessment Years: 2010-11, 2011-12 & 2012-13 The Deputy Commissioner Of Vs. M/S. Aban Investments P. Ltd., Income Tax, Corporate Circle 1(1), 113, Janpriya Crest, Pantheon Road, Chennai – 600 034. Chennai 600 008. [Pan: Aaaca2926J] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri Clement Ramesh Kumar, Cit & : Shri P. Sajit Kumar, Jcit ""थ" की ओर से/Respondent By Shri R. Vijayaraghavan, Advocate : सुनवाई की तारीख/ Date Of Hearing 03.02.2022 : घोषणा की तारीख /Date Of Pronouncement : 31.03.2022 आदेश /O R D E R Per V. Durga Rao: These Three Appeals Filed By The Revenue Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai, All Dated 30.01.2017 Relevant To The Assessment Years 2010- 11, 2011-12 & 2012-13. 2. The First Common Ground Raised In All The Appeals Of The Revenue Relates To Restriction Of Disallowance Made Under Section 14A R.W.S. Rule 8D.

22,139]. Accordingly, the ld. CIT(A) has rightly directed the Assessing Officer to modify the disallowance under section 14A of the Act. We find

DCIT, CHENNAI vs. ABAN INVESTMENTS P LTD., CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.933, 934 & 935/Chny/2017 िनधा"रण वष"/Assessment Years: 2010-11, 2011-12 & 2012-13 The Deputy Commissioner Of Vs. M/S. Aban Investments P. Ltd., Income Tax, Corporate Circle 1(1), 113, Janpriya Crest, Pantheon Road, Chennai – 600 034. Chennai 600 008. [Pan: Aaaca2926J] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri Clement Ramesh Kumar, Cit & : Shri P. Sajit Kumar, Jcit ""थ" की ओर से/Respondent By Shri R. Vijayaraghavan, Advocate : सुनवाई की तारीख/ Date Of Hearing 03.02.2022 : घोषणा की तारीख /Date Of Pronouncement : 31.03.2022 आदेश /O R D E R Per V. Durga Rao: These Three Appeals Filed By The Revenue Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai, All Dated 30.01.2017 Relevant To The Assessment Years 2010- 11, 2011-12 & 2012-13. 2. The First Common Ground Raised In All The Appeals Of The Revenue Relates To Restriction Of Disallowance Made Under Section 14A R.W.S. Rule 8D.

22,139]. Accordingly, the ld. CIT(A) has rightly directed the Assessing Officer to modify the disallowance under section 14A of the Act. We find

DCIT, CHENNAI vs. ABAN INVESTMENTS P LTD., CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.933, 934 & 935/Chny/2017 िनधा"रण वष"/Assessment Years: 2010-11, 2011-12 & 2012-13 The Deputy Commissioner Of Vs. M/S. Aban Investments P. Ltd., Income Tax, Corporate Circle 1(1), 113, Janpriya Crest, Pantheon Road, Chennai – 600 034. Chennai 600 008. [Pan: Aaaca2926J] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri Clement Ramesh Kumar, Cit & : Shri P. Sajit Kumar, Jcit ""थ" की ओर से/Respondent By Shri R. Vijayaraghavan, Advocate : सुनवाई की तारीख/ Date Of Hearing 03.02.2022 : घोषणा की तारीख /Date Of Pronouncement : 31.03.2022 आदेश /O R D E R Per V. Durga Rao: These Three Appeals Filed By The Revenue Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai, All Dated 30.01.2017 Relevant To The Assessment Years 2010- 11, 2011-12 & 2012-13. 2. The First Common Ground Raised In All The Appeals Of The Revenue Relates To Restriction Of Disallowance Made Under Section 14A R.W.S. Rule 8D.

22,139]. Accordingly, the ld. CIT(A) has rightly directed the Assessing Officer to modify the disallowance under section 14A of the Act. We find

SHRIRAM CAPITAL LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Challa Nagendra Prasadआयकर अपील सं./ I.T.A. Nos.512 &513 /Mds/2015 ("नधा"रण वष" / Assessment Year : 2010-2011 & 2011- 2012)

22,646 + 1047,04,13,303)/2 = 937,21,17,974/- Average investments = (789,89,19,000 + 552,07,42,000)/2 = 670,98,30,500/-. 3.1 According to AO the disallowance of the expenditure to be made according to the provisions of the Rule 8D read with section