KARUR VYSYA BANK LTD.,KARUR vs. DCIT CIRCLE 2(1), TRICHY

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

1)(a) of Act to enhance extends only to those items that were dealt by the AO in the assessment order. He submitted that though the power the Ld. CIT(A) is co-terminus with that of the AO, new issues / additions / sources of income would fall outside the ambit of provisions of section 251 of the Act in regard

DCIT CIRCLE 2(1), TRICHY vs. THE KARUR VYSYA BANK LTD., KARUR

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

1)(a) of Act to enhance extends only to those items that were dealt by the AO in the assessment order. He submitted that though the power the Ld. CIT(A) is co-terminus with that of the AO, new issues / additions / sources of income would fall outside the ambit of provisions of section 251 of the Act in regard

DCIT CIRCLE 2(1), TRICHY vs. THE KARUR VYSYA BANK LTD., KARUR

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

1)(a) of Act to enhance extends only to those items that were dealt by the AO in the assessment order. He submitted that though the power the Ld. CIT(A) is co-terminus with that of the AO, new issues / additions / sources of income would fall outside the ambit of provisions of section 251 of the Act in regard

KARUR VYSYA BANK LTD.,KARUR vs. DCIT CIRCLE 2(1), TRICHY

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

1)(a) of Act to enhance extends only to those items that were dealt by the AO in the assessment order. He submitted that though the power the Ld. CIT(A) is co-terminus with that of the AO, new issues / additions / sources of income would fall outside the ambit of provisions of section 251 of the Act in regard

M/S. KARUR VYSYA BANK,,KARUR vs. DCIT, CIRCLE - 2 (1),, TRICHY

Section\n36(1)(viia). However, sustained additions made towards\ndisallowance of bad debts written off and depreciation on\ninvestments. The Id. CIT(A) had also enhanced the assessment and\ndirected the AO to make additions towards disallowance of excess\nclaim of depreciation on security receipts and disallowance of bad\ndebts written off (prudential write off). Aggrieved by the Id.\nCIT

SHRI. MOOLCHAND KIRAN KUMAR JAIN,CHENNAI vs. DCIT, CENTRAL CIRCLE 1(4), CHENNAI, CHENNAI

In the result, appeal filed by the assessee for assessment years 2020-21 & 2021-22 are partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1417 & 1418/Chny/2023 िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22 Shri. Moolchand Kiran Kumar Deputy Commissioner Of Jain, V. Income-Tax, No. 123, Usman Road, Central Circle 1(4), T. Nagar, Chennai – 600 017. Chennai – 600 034. [Pan: Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. D. Anand, Advocate : Shri. V. Nandakumar, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 26.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

disallowance of bad debt claimed by the appellant. The learned CIT(A) ought to have seen that the appellant has clearly demonstrated that the impugned bad debt has been written off as per the requirement of section 36(1)(vii) and the write off fulfils the requirement of section 36(1 )(vii) read with section

SHRI. MOOLCHAND KIRAN KUMAR JAIN,CHENNAI vs. DCIT, CENTRAL CIRCLE 1(4), CHENNAI

In the result, appeal filed by the assessee for assessment years 2020-21 & 2021-22 are partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1417 & 1418/Chny/2023 िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22 Shri. Moolchand Kiran Kumar Deputy Commissioner Of Jain, V. Income-Tax, No. 123, Usman Road, Central Circle 1(4), T. Nagar, Chennai – 600 017. Chennai – 600 034. [Pan: Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. D. Anand, Advocate : Shri. V. Nandakumar, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 26.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

disallowance of bad debt claimed by the appellant. The learned CIT(A) ought to have seen that the appellant has clearly demonstrated that the impugned bad debt has been written off as per the requirement of section 36(1)(vii) and the write off fulfils the requirement of section 36(1 )(vii) read with section

PARRY INFRASTRUCTURE CO P LTD. ,CHENNAI vs. DCIT CORPORATE CIRCLE 5(1) , CHENNAI

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

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

1) The Assessing Officer may accept the Section 148/147 return of income without making any addition or disallowance; 2) The assessment is framed and the Section 251

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

disallowance of deduction claimed in respect of wealth tax of Rs.11,63,372/ of Rs.11,63,372/-. 4.1 At the outset, the Ld.AR for the assessee didn’t pre At the outset, the Ld.AR for the assessee didn’t pre At the outset, the Ld.AR for the assessee didn’t press this ground since in the assessee’s own case

MENAKURU SUKUMAR REDDY,HYDERABAD vs. DCIT(A), CHENNAI

In the result the appeal of the revenue is dismissed

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunatha

disallowance of expenditure, enhanced the income of the assessee by proposing the addition of total sale consideration received on account of sale of agricultural land. The ld.AR submitted that with respect to enhancement of income, as per section 251(1

MENAKURU SUKUMAR REDDY,HYDERABAD vs. DCIT(A), CHENNAI

In the result the appeal of the revenue is dismissed

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunatha

disallowance of expenditure, enhanced the income of the assessee by proposing the addition of total sale consideration received on account of sale of agricultural land. The ld.AR submitted that with respect to enhancement of income, as per section 251(1

DCIT CORPORATE CIRCLE 1 (2), CHENNAI vs. M/S CAPLIN POINT LABORATORIES LTD, CHENNAI

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

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. No.1716/Chny/2019 िनधा"रण वष"/Assessment Year: 2013-14 The Deputy Commissioner Of Vs. M/S. Caplin Point Laboratories Ltd., Income Tax, No. 3, Narbavi, Lakshmanan Street, Corporate Circle 1(2), T. Nagar, Chennai 600 017. Chennai 600 034. [Pan:Aabcc2667F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri P. Sajit Kumar, Jcit ""थ" की ओर से/Respondent By : Shri R. Vijayaraghavan, Advocate सुनवाई की तारीख/ Date Of Hearing : 17.07.2023 घोषणा की तारीख /Date Of Pronouncement : 26.07.2023 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) 1, Chennai, Dated 07.03.2019 Relevant To The Assessment Year 2013-14. 2. The Appeal Filed By The Revenue Is Delayed By Two Days In Filing The Appeal, For Which, The Revenue Has Filed An Affidavit For Condonation Of The Delay, To Which; The Ld. Counsel For The Assessee Has Not Raised Any Serious Objection. Consequently, Since The Revenue Was Prevented By 2

disallowance of provision for gratuity is in contravention of section 251(1)(a) of the Act. It was further submission

ASSISTANT COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1(1), NUNGAMBAKKAM vs. IDFC LIMITED, TEYNAMPET

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

Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. Nos.818 & 819/Chny/2024 िनधा"रण वष"/Assessment Year: 2016-17 The Assistant Commissioner Of Vs. Idfc Limited, 4Th Floor, Capitale Tower, No. 555, Income Tax, Corporate Circle 1(1), Anna Salai, Thiru Vi Ka Kudiyiruppu, Chennai 600 034. Teynampet, Chennai 600 018. [Pan:Aaaci2663N] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri V. Nandakumar, Cit ""थ" की ओर से/Respondent By : Shri Ketan Ved, C.A. सुनवाई की तारीख/ Date Of Hearing : 29.08.2024 घोषणा की तारीख /Date Of Pronouncement : 04.09.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: Both The Appeals Filed By The Revenue Are Directed Against Separate Orders Dated Both Dated 21.09.2022 Passed By The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi For The Assessment Year 2016-17. 2. Since The Issue Raised In Both The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed To Hear All These Appeals Together & Pass Consolidated Order For The Sake Of Convenience.

1 raised by the appellant-Revenue is general in nature and requires no adjudication. 16. Ground Nos. 2, 3 and 4 raised by the Revenue in deleting the addition made by the Assessing Officer on account of disallowance under section 14A read with Rule 8D. 17. We note that the assessee have shown tax free income

ASSISTANT COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1(1), NUNGAMBAKKAM vs. IDFC LIMITED, TEYNAMPET

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

Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. Nos.818 & 819/Chny/2024 िनधा"रण वष"/Assessment Year: 2016-17 The Assistant Commissioner Of Vs. Idfc Limited, 4Th Floor, Capitale Tower, No. 555, Income Tax, Corporate Circle 1(1), Anna Salai, Thiru Vi Ka Kudiyiruppu, Chennai 600 034. Teynampet, Chennai 600 018. [Pan:Aaaci2663N] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri V. Nandakumar, Cit ""थ" की ओर से/Respondent By : Shri Ketan Ved, C.A. सुनवाई की तारीख/ Date Of Hearing : 29.08.2024 घोषणा की तारीख /Date Of Pronouncement : 04.09.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: Both The Appeals Filed By The Revenue Are Directed Against Separate Orders Dated Both Dated 21.09.2022 Passed By The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi For The Assessment Year 2016-17. 2. Since The Issue Raised In Both The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed To Hear All These Appeals Together & Pass Consolidated Order For The Sake Of Convenience.

1 raised by the appellant-Revenue is general in nature and requires no adjudication. 16. Ground Nos. 2, 3 and 4 raised by the Revenue in deleting the addition made by the Assessing Officer on account of disallowance under section 14A read with Rule 8D. 17. We note that the assessee have shown tax free income

ACIT, CHENNAI vs. MENAKURU SUKUMAR REDDY , CHENNAI

section 251(1)(a) provides the Ild.CIT(A)\ncould enhance such an assessment qua the under-assessed sum i.e. where the\nAO had dealt the issue in the assessment and was the subject matter of appeal.\nIn the present case the AO restricted himself to expenditure disallowance

MENAKURU SUKUMAR REDDY,HYDERABAD vs. DCIT(A), CHENNAI

section 251(1)(a) provides the Ild.CIT(A)\nPAGE-19\n:-19-:\nITA Nos: 991, 992, 993,\n1639 & 1644/Chny/2025\ncould enhance such an assessment qua the under-assessed sum i.e. where the\nAO had dealt the issue in the assessment and was the subject matter of appeal.\nIn the present case the AO restricted himself to expenditure disallowance

M/S. TRIVITRON HEALTHCARE PVT. LTD.,CHENNAI vs. PCIT, , CHENNAI-3

In the result, the appeal filed by the assessee is partly\nallowed

1) of the Income-tax Act,\n1961, especially when the merger in this case is under pooling of\ninterest method. Further, the decision of the Hon'ble \TAT, Bangalore\nin the case of M/s United Breweries would be applicable to the facts\nand circumstances of the case. Further, tor the reasons mentioned in\nparagraphs 20 to 22 above, the assessee

WHEELS INDIA LTD.,CHENNAI vs. DCIT LARGE TAX PAYER UMIT-1, CHENNAI

In the result, appeals filed by the revenue for assessment years 2013-14 & 2014-15 are dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1604 & 1605/Chny/2019 िनधा"रण वष" / Assessment Years: 2013-14 & 2014-15

1. The order of the Commissioner of Income tax (Appeals) is contrary to law, facts and circumstances of the case. 2 The CIT(A) erred in remitting back the disallowance of expenditure u/s.14Ar.w.r 8D of the IT Rules amounting to Rs. 91,52,609/-. 2.1 The CIT(A) ought to have appreciated that during the relevant year, the appellant

WHEELS INDIA LTD.,CHENNAI vs. DCIT LARGE TAX PAYER UMIT-1, CHENNAI

In the result, appeals filed by the revenue for assessment years 2013-14 & 2014-15 are dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1604 & 1605/Chny/2019 िनधा"रण वष" / Assessment Years: 2013-14 & 2014-15

1. The order of the Commissioner of Income tax (Appeals) is contrary to law, facts and circumstances of the case. 2 The CIT(A) erred in remitting back the disallowance of expenditure u/s.14Ar.w.r 8D of the IT Rules amounting to Rs. 91,52,609/-. 2.1 The CIT(A) ought to have appreciated that during the relevant year, the appellant