ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE 1 CHENNAI, CHENNAI vs. E I D PARRY INDIA LIMITED, CHENNAI

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes and the appeal filed by the Revenue is dismissed

Bench: Shri George George Kand Shri S.R. Raghunathait(Tp)A. Nos.:105, 106, 107/Chny/2024 & Ita No.3113/Chny/2024 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. E.I.D. Parry India Ltd., The Deputy Commissioner Of No. 234, Dare House, Nsc Vs. Income Tax, Bose Road, Parrys Corner, Large Taxpayer Unit -1, Chennai 600 001. Chennai. [Pan: Aaace-0702-C] (अपीलाथ"/Appellant) (""यथ"/Respondent)

disallowance and the ld. CIT(A) to confirm the same. 40. The Bangalore Benches of the Tribunal in the case of M/s. Mahindra Electric Mobility Ltd. v. ACIT in ITA No.641/Bang/2017 vide order dated 14.09.2018 had held that prior to 01.07.2016 Form No.3CL has no legal sanctity and it is only w.e.f. 01.07.2016 with the amendment to Rule

M/S. EID PARRY INDIA LTD.,CHENNAI vs. DCIT, LTU-1,, CHENNAI

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes and the appeal filed by the Revenue is dismissed

Bench: Shri George George Kand Shri S.R. Raghunathait(Tp)A. Nos.:105, 106, 107/Chny/2024 & Ita No.3113/Chny/2024 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. E.I.D. Parry India Ltd., The Deputy Commissioner Of No. 234, Dare House, Nsc Vs. Income Tax, Bose Road, Parrys Corner, Large Taxpayer Unit -1, Chennai 600 001. Chennai. [Pan: Aaace-0702-C] (अपीलाथ"/Appellant) (""यथ"/Respondent)

disallowance and the ld. CIT(A) to confirm the same. 40. The Bangalore Benches of the Tribunal in the case of M/s. Mahindra Electric Mobility Ltd. v. ACIT in ITA No.641/Bang/2017 vide order dated 14.09.2018 had held that prior to 01.07.2016 Form No.3CL has no legal sanctity and it is only w.e.f. 01.07.2016 with the amendment to Rule

M/S T vs. MOTOR COMPANY LIMITED,CHENNAIVS.ACIT CORPORATE CIRCLE 3 (1), CHENNAI

In the result, the appeal of the Revenue and the assessee are\ndecided as under:-\n\n| ITA Nos\n| Assessment\nYear\nResult\n| IT(TP)A No

Section 14A read with Rule 8D(2)(iii) accordingly. This ground is therefore partly allowed...\"\n\n15.0 We have noted that the facts of the present case are identical to those as available in AY-2012-13 supra and no distinguishment could be pointed out by the Revenue's counsel. Accordingly, respectfully following the cited judicial precedence we deem

CARBORUNDUM UNIVERSAL LIMITED,CHENNAI vs. ACIT LTU-1, CHENNAI

In the result, appeals filed by the assessee are partly allowed\nfor statistical purposes

disallowance and the Id. CIT(A) to\nconfirm the same.\n10.9 The Bangalore Benches of the Tribunal in the case of M/s. Mahindra\nElectric Mobility Ltd. v. ACIT in ITA No.641/Bang/2017 vide order dated\n14.09.2018 had held that prior to 01.07.2016 Form No.3CL has no legal\nsanctity and it is only w.e.f. 01.07.2016 with the amendment to Rule

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/- towards puja expenses. 3. With regard to the disallowance

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/- towards puja expenses. 3. With regard to the disallowance

JCIT (OSD) CIRCLE-2, TRICHY vs. THE KARUR VYSYA BANK LTD., KARUR

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

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita No.: 620/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of Income M/S. Karur Vysya Bank, V. Tax, Finance &Control Dept., Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 635/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. Karur Vysya Bank, The Joint Commissioner Of V. Finance &Control Dept., Income Tax, Erode Road, Circle -2, Karur – 639 002. No.44, Williams Road, [Pan: Aaact-3373-J] Contanment, Trichy – 620 001. (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Ananthan, Ca & Smt. R. Lalitha, Ca Department By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 05.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 20.09.2024 आदेश /O R D E R Per S. R. Raghunatha:

disallowance to Rs.191,40,05,877/- by holding that the technical write – off of Rs.103,67,40,537/- is not allowable as the same was not debited to the Profit & Loss account and the non – rural write off should be adjusted against the provision account under Section 36(1)(viia). 10.2 The Ld. Counsel for the assessee, at the outset

M/S BUILDHR MANAGEMENT CONSULTANTS PRIVATE LIMITED,CHENNAI vs. ADIT CPC , BANGALORE

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 609/Chny/2022 िनधा"रण वष" / Assessment Year: 2020-21 M/S. Buildhr Management The Joint Commissioner Of Consultants Private Limited V. Income Tax, 3A/8, Thangal Ulvail Street, (Osd), Virugambakkam, Corporate Circle -1(1), Chennai – 600 092. Chennai. [Pan: Aaecb-6784-F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Y. Sridhar, Fca ""यथ" क" ओर से/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 15.09.2023 घोषणा क" तारीख/Date Of Pronouncement : 15.09.2023

270/- made towards disallowance of delayed remittance of PF/ESI. 6. We find that in a recent judgement of the Hon’ble Supreme Court in the case of M/s. Checkmate Services P. Ltd. v. CIT (supra), has considered the issue of disallowance of belated remittances of employee’s contribution to PF & ESI under section

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: Rs.3,02,02,100/- b. Alleged bogus purchases: Rs.4,43,24,430/- c. Unexplained money under section 69A: Rs.39,22,000/- on account of amounts received from Shri B.S. Prasad d. Unexplained expenditure under section 69C: Rs.42,30,000/- being interest paid to Shri B.S. Prasad e. Addition on account of sale proceeds of land at Palakol: Rs.1

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: Rs.3,02,02,100/- b. Alleged bogus purchases: Rs.4,43,24,430/- c. Unexplained money under section 69A: Rs.39,22,000/- on account of amounts received from Shri B.S. Prasad d. Unexplained expenditure under section 69C: Rs.42,30,000/- being interest paid to Shri B.S. Prasad e. Addition on account of sale proceeds of land at Palakol: Rs.1

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

disallowed Rs.73,48,83,942/- by holding that the non\nrural debts should also be adjusted against the provision account\nunder Section 36(1)(viia) on account of the Explanation 2 to Section\n36(1)(vii). In the appellate proceedings, the CIT(A) enhanced the\ndisallowance to Rs.191,40,05,877/- by holding that the technical\nwrite off of Rs.103

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

270 ITR 314) holding that no separate disallowance u/s. 40A(3) is required when income is estimated by adopting Net Profit Rate. Similar ratio was laid down by Hon’ble Punjab & Haryana High Court in the case of CIT (Central) v. Gobind Ram (229 Taxman 491) as well as by Hon’ble Rajasthan High Court in PCIT v. Jadau Jewellers

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

270 ITR 314) holding that no separate disallowance u/s. 40A(3) is required when income is estimated by adopting Net Profit Rate. Similar ratio was laid down by Hon’ble Punjab & Haryana High Court in the case of CIT (Central) v. Gobind Ram (229 Taxman 491) as well as by Hon’ble Rajasthan High Court in PCIT v. Jadau Jewellers

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

270 ITR 314) holding that no separate disallowance u/s. 40A(3) is required when income is estimated by adopting Net Profit Rate. Similar ratio was laid down by Hon’ble Punjab & Haryana High Court in the case of CIT (Central) v. Gobind Ram (229 Taxman 491) as well as by Hon’ble Rajasthan High Court in PCIT v. Jadau Jewellers

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

270 ITR 314) holding that no separate disallowance u/s. 40A(3) is required when income is estimated by adopting Net Profit Rate. Similar ratio was laid down by Hon’ble Punjab & Haryana High Court in the case of CIT (Central) v. Gobind Ram (229 Taxman 491) as well as by Hon’ble Rajasthan High Court in PCIT v. Jadau Jewellers

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, TRICHY vs. SEBCO PROPERTY PRIVATE LIMITED, TRICHY

In the result, all the appeals stand dismissed

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

270 ITR 314) holding that no separate disallowance u/s. 40A(3) is required when income is estimated by adopting Net Profit Rate. Similar ratio was laid down by Hon’ble Punjab & Haryana High Court in the case of CIT (Central) v. Gobind Ram (229 Taxman 491) as well as by Hon’ble Rajasthan High Court in PCIT v. Jadau Jewellers

SEBCO PROPERTY PRIVATE LIMITED,TRICHY vs. DCIT CENTRAL CIRCLE 2, TRICHY

In the result, all the appeals stand dismissed

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

270 ITR 314) holding that no separate disallowance u/s. 40A(3) is required when income is estimated by adopting Net Profit Rate. Similar ratio was laid down by Hon’ble Punjab & Haryana High Court in the case of CIT (Central) v. Gobind Ram (229 Taxman 491) as well as by Hon’ble Rajasthan High Court in PCIT v. Jadau Jewellers

SEBCO PROPERTY PRIVATE LIMITED,TRICHY vs. DCIT CENTRAL CIRCLE 2, TRICHY

In the result, all the appeals stand dismissed

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.1428/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.1429/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) & 3. आयकरअपील सं./ Ita No.1430/Chny/2024 (िनधा'रणवष' / Assessment Year: 2019-20) & 4. आयकरअपील सं./ Ita No.1431/Chny/2024 (िनधा'रणवष' / Assessment Year: 2020-21) & 5. आयकरअपील सं./ Ita No.1432/Chny/2024 (िनधा'रणवष' / Assessment Year: 2021-22) Dcit M/S Sebco Property Private Limited बनाम/ Central Circle-2, 24D, Mahalakshmi Nagar, Vs. Trichy. K.K. Nagar, Trichy-620 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-0810-R (अपीलाथ"/Appellant) : (" थ" / Respondent) & 6. आयकरअपील सं./ Ita No.1467/Chny/2024 (िनधा'रणवष' / Assessment Year: 2017-18) & 7. आयकरअपील सं./ Ita No.1468/Chny/2024 (िनधा'रणवष' / Assessment Year: 2018-19) &

270 ITR 314) holding that no separate disallowance u/s. 40A(3) is required when income is estimated by adopting Net Profit Rate. Similar ratio was laid down by Hon’ble Punjab & Haryana High Court in the case of CIT (Central) v. Gobind Ram (229 Taxman 491) as well as by Hon’ble Rajasthan High Court in PCIT v. Jadau Jewellers