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)

4. The substantial questions of law raised for consideration were answered against the Revenue in the case of Marg Ltd. v. CIT [2020] 120 taxmann.com 84/275 Taxman 502 (Mad.). The operative portion of the judgment reads as follows: "9. A Co-ordinate Bench of this Court, in the case of CIT v. Tidel Park Ltd. [TCA Nos.732

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)

4. The substantial questions of law raised for consideration were answered against the Revenue in the case of Marg Ltd. v. CIT [2020] 120 taxmann.com 84/275 Taxman 502 (Mad.). The operative portion of the judgment reads as follows: "9. A Co-ordinate Bench of this Court, in the case of CIT v. Tidel Park Ltd. [TCA Nos.732

TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION LIMITED,CHENNAI vs. ACIT, CHENNAI

In the result, the assessee’s appeals in ITA Nos

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

section he has disallowed the expense. 5. The CIT(A) erred in confirming the disallowance of Interest paid on Ways and Means Advance amounting to Rs. 37,80,822/- 5.1 The CIT(A) ought to have appreciated that the interest was payable on Ways and Means Advance of Rs. 50 crores received from the Government of Tamilnadu. The Government

TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION LIMITED,CHENNAI vs. ACIT, CHENNAI

In the result, the assessee’s appeals in ITA Nos

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

section he has disallowed the expense. 5. The CIT(A) erred in confirming the disallowance of Interest paid on Ways and Means Advance amounting to Rs. 37,80,822/- 5.1 The CIT(A) ought to have appreciated that the interest was payable on Ways and Means Advance of Rs. 50 crores received from the Government of Tamilnadu. The Government

ACIT, CHENNAI vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Accordingly, the assessee’s appeals in ITA Nos. 1881, 1882, and 1883/Chny/2025 for A.Ys. 2016-17, 2019-20, and 2022-23 are allowed

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon’Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 िनधा;रण वष; /Assessment Years: 2016-17, 2019-20 & 2022-23

Disallowance u/S 37(1) - 53,25,720 3,89,98,710 4,43,24,430 Bogus purchases Unexplained money u/S Nil 39,22,000 39,22,000 69A and unexplained 42,30,000 42,30,000 expenditure u/S 69C Income on account of 1,97,03,000 Nil 1,97,03,000 Palakol land sale Misc. income on sale

INTEGRATED SERVICE POINT LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(4), CHENNAI

Accordingly, the assessee’s appeals in ITA Nos. 1881, 1882, and 1883/Chny/2025 for A.Ys. 2016-17, 2019-20, and 2022-23 are allowed

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon’Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 िनधा;रण वष; /Assessment Years: 2016-17, 2019-20 & 2022-23

Disallowance u/S 37(1) - 53,25,720 3,89,98,710 4,43,24,430 Bogus purchases Unexplained money u/S Nil 39,22,000 39,22,000 69A and unexplained 42,30,000 42,30,000 expenditure u/S 69C Income on account of 1,97,03,000 Nil 1,97,03,000 Palakol land sale Misc. income on sale

ACIT, NUNAGAMBAKKAM vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon'Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 निर्धारण वर्ष / Assessment Years: 2016-17, 2019-20 & 2022-23 Integrated Service Point Ltd., (Formerly Integrated Service Point Vs. Income Tax, Pvt. Ltd.,) The Dy./Asst. Commissioner Of Central Circle-2(4), 6C, 6Th Floor, Gaiety Palace I/L, Blackers Road, Anna Road H.O., Chennai - 600 002. Pan: Aaaci 9527P Chennai. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./ Ita Nos.1874, 1876 & 1879/Chny/2025 निर्धारण वर्ष / Assessment Years: 2016-17, 2019-20 & 2022-23 The Dy./Asst. Commissioner Of Integrated Service Point Ltd., Income Tax, Central Circle-2(4), Chennai. (Formerly Integrated Service Point Vs. Pvt. Ltd.,) 6C, 6Th Floor, Gaiety Palace I/L, Blackers Road, Anna Road H.O., Chennai - 600 002. Pan: Aaaci 9527P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr. Y. Sridhar, Fca प्रत्यर्थी की ओर से /Revenue By Mr. Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing घोषणा की तारीख / Date Of Pronouncement 13.10.2025 30.12.2025 - : 2 -:

Disallowance u/S 37(1) - Bogus purchases 53,25,720 3,89,98,710 4,43,24,430 Unexplained money u/S 69A and unexplained expenditure u/S 69C Nil 39,22,000 42,30,000 39,22,000 42,30,000 Income on account of Palakol land sale 1,97,03,000 Nil 1,97,03,000 Misc. income on sale

ACIT, NUNGAMBAKKAM vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon'Ble Jagadishआयकर अपील सं./ Ita Nos.1881, 1882 & 1883/Chny/2025 निर्धारण वर्ष / Assessment Years: 2016-17, 2019-20 & 2022-23 Integrated Service Point Ltd., (Formerly Integrated Service Point Vs. Pvt. Ltd.,) The Dy./Asst. Commissioner Of Income Tax, Central Circle-2(4), Chennai. 6C, 6Th Floor, Gaiety Palace I/L, Blackers Road, Anna Road H.O., Chennai - 600 002. Pan: Aaaci 9527P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./ Ita Nos.1874, 1876 & 1879/Chny/2025 निर्धारण वर्ष / Assessment Years: 2016-17, 2019-20 & 2022-23 The Dy./Asst. Commissioner Of Income Tax, Central Circle-2(4), Chennai. Integrated Service Point Ltd., (Formerly Integrated Service Point Vs. Pvt. Ltd.,) 6C, 6Th Floor, Gaiety Palace I/L, Blackers Road, Anna Road H.O., Chennai - 600 002. Pan: Aaaci 9527P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr. Y. Sridhar, Fca प्रत्यर्थी की ओर से /Revenue By : Mr. Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 13.10.2025 घोषण की तारीख / Date Of Pronouncement : 30.12.2025 :- 2 -:

Disallowance u/S 37(1) - Bogus purchases 53,25,720 3,89,98,710 4,43,24,430 Unexplained money u/S 69A and unexplained expenditure u/S 69C Nil 39,22,000 42,30,000 39,22,000 42,30,000 Income on account of Palakol land sale 1,97,03,000 Nil 1,97,03,000 Misc. income on sale

THE INCOME TAX OFFICER, WARD -4, PUDUCHERRY vs. KALAPET PRIMARY AGRICULTURAL CO-OPERATIVE BANK LTD. , PONDICHERRY

In the result, the Revenue’s appeals are allowed for statistical purposes’’

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

disallowed by the AO in assessment on the ground that the assessee-society is a primary cooperative bank, a term defined under the BR Act, as a co-operative- society, other than a primary agricultural credit society, whose primary object or principal business is the transaction of banking business. Further qualifications (for it to be so ITA Nos.2190 to 2193/2017

UNITED INDIA INSURANCE CO LIMITED,CHENNAI vs. PCIT-3, CHENNAI

In the result, the appeals for AY 2014-15, 2016-17 & 2017-18 are partly allowed and appeals for AY 2015-16 & 2017-18 (in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1759/Chny/2019, 182 & 183/Chny/2021, 430/Chny/2022 & 683/Chny/2023 िनधा"रण वष"/Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18 United India Insurance Co. Ltd., Vs. The Principal Commissioner Of O/O The Chief Manager, Cfac Income Tax – 3, Department, Head Office, United India Chennai 600 034. Nalanda, Door No. 19, Ground Floor, 4Th Lane, Utamar Gandhi Salai, Chennai 600 034. [Pan:Aaacu5552C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sundararaman, Ca ""थ" की ओर से/Respondent By : Ms. V. Pushpa, Sr. Standing Counsel (Virtual) सुनवाई की तारीख/ Date Of Hearing : 07.10.2025 घोषणा की तारीख /Date Of Pronouncement : 05.01.2026 आदेश /O R D E R Per S.S. Viswanethra Ravi: The Appeal In Ita No. 1759/Chny/2019 Filed By The Assessee Is Directed Against The Order Dated 29.03.2019 Passed By The Ld. Principal Commissioner Of Income Tax-3, Chennai For The Assessment Year 2014- 15. The Appeals In Ita No. 182 & 183/Chny/2021 Are Filed By The Assessee Against Different Orders Both Dated 28.03.2021 Passed By The Ld. Pcit-3, Chennai For The Assessment 2015-16 & 2016-17. The 2

249 placed at pages 60 to 70 of paper book and the decision of the Hon’ble High Court of Delhi in the case of Escorts reported in 338 ITR 435 placed at pages 71 to 84 of paper book for the proposition that if similar claims have been allowed in the earlier assessment years, revisionary proceedings cannot be initiated

UNITED INDIA INSUANCE CO LIMITED,CHENNAI vs. PCIT 3, CHENNAI

In the result, the appeals for AY 2014-15, 2016-17 & 2017-18 are

249 placed at pages 60 to 70 of paper book and the decision of the Hon'ble High Court of Delhi in the case of Escorts reported in 338 ITR 435 placed at pages 71 to 84 of paper book for the proposition that if similar claims have been allowed in the earlier assessment years, revisionary proceedings cannot be initiated

UNITED INDIA INSURANCE CO.LTD,CHENNAI vs. PCIT-3,, CHENNAI

249 placed at pages 60 to 70 of paper book and the decision of the Hon'ble High Court of Delhi in the case of Escorts reported in 338 ITR 435 placed at pages 71 to 84 of paper book for the proposition that if similar claims have been allowed in the earlier assessment years, revisionary proceedings cannot be initiated

UNITED INDIA INSURANCE CO LTD,CHENNAI vs. PCIT, CHENNAI

249 placed at pages 60 to 70 of paper book and the decision of the Hon'ble High Court of Delhi in the case of Escorts reported in 338 ITR 435 placed at pages 71 to 84 of paper book for the proposition that if similar claims have been allowed in the earlier assessment years, revisionary proceedings cannot be initiated

SAHAI & SONS (I) LTD.,CHENNAI vs. DCIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

Section 68 of the Act, from sales accounted by the assessee. As mentioned by us at para 53 and 54 above, it is an undisputed position that credits in bullion margin money account were generally transferred to sales account. Addition of credit in bullion margin money account has been sustained by us, only to the extent not transferred/accounted

NARESH PRASAD AGARWAL,CHENNAI vs. DCIT, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

Section 68 of the Act, from sales accounted by the assessee. As mentioned by us at para 53 and 54 above, it is an undisputed position that credits in bullion margin money account were generally transferred to sales account. Addition of credit in bullion margin money account has been sustained by us, only to the extent not transferred/accounted

ACIT, CHENNAI vs. NARESH PRASAD AGARWAL, CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

Section 68 of the Act, from sales accounted by the assessee. As mentioned by us at para 53 and 54 above, it is an undisputed position that credits in bullion margin money account were generally transferred to sales account. Addition of credit in bullion margin money account has been sustained by us, only to the extent not transferred/accounted

ACIT CENTRAL CIRCLE 3(1), CHENNAI vs. SHIV SAHAI & SONS (INDIA) LTD., CHENNAI

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

Section 68 of the Act, from sales accounted by the assessee. As mentioned by us at para 53 and 54 above, it is an undisputed position that credits in bullion margin money account were generally transferred to sales account. Addition of credit in bullion margin money account has been sustained by us, only to the extent not transferred/accounted

DCIT, CHENNAI vs. COMSTAR AUTOMOTIVE TECHNOLOGIES P LTD., CHENGALPUT

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 827, 828, 829 & 830/Chny/2017 "नधा"रण वष"/Assessment Years : 2005-06, 2005-06, 2007-08 & 2008-09

249 is exempt u/s 10(35). The assessee has interest outgo of :-10-: ITA Nos: 827, 828, 829, 830 1071, 1072/Chny/2017 Rs.1,08,77,141 and hence he disallowed interest in accordance with Rule 8D at Rs.9,77,156. Before the CIT(A) the assessee had provided the computation and contended that the figures adopted

COMSTAR AUTOMOTIVE TECHNOLOGIES (P) LTD.,CHENNAI vs. DCIT, CHENNAI

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 827, 828, 829 & 830/Chny/2017 "नधा"रण वष"/Assessment Years : 2005-06, 2005-06, 2007-08 & 2008-09

249 is exempt u/s 10(35). The assessee has interest outgo of :-10-: ITA Nos: 827, 828, 829, 830 1071, 1072/Chny/2017 Rs.1,08,77,141 and hence he disallowed interest in accordance with Rule 8D at Rs.9,77,156. Before the CIT(A) the assessee had provided the computation and contended that the figures adopted