ACIT, CHENNAI vs. M/S. S & P FOUNDATION P. LTD., CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.2084/Chny/2013 िनधा"रण वष"/Assessment Years: 2006-07 The Assistant Commissioner Of M/S. S & P Foundation P. Ltd., Income Tax, Central Circle Iv(2), Vs. Old No. 27, New No. 38, Madley Road, 46, Nungambakkam High Road, T. Nagar, Chennai 600 017. Chennai. [Pan: Aaics0224K] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri G. Johnson, Addl. Cit : ""थ" की ओर से/Respondent By Shri G. Baskar, Advocate & : Shri I Dinesh, Advocate सुनवाई की तारीख/ Date Of Hearing 02.12.2021 : घोषणा की तारीख /Date Of Pronouncement : 16.12.2021 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) Ii, Chennai, Dated 05.12.2012 Relevant To The Assessment Year 2006-07 In Pursuance To The Order Of The Assessing Officer In Levying Penalty Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

section 271(1)(c) is vague because, the Assessing Officer had not specific whether the penalty is on account of concealment of income or furnishing inaccurate particulars of income. It was further replied that the addition is only of ₹.13,000/- disallowed

PRESIDENCY KID LEATHER PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

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

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. No. 765/Chny/2017 िनधा"रण वष"/Assessment Year:2013-14 Presidency Kid Leather Pvt. Ltd., The Deputy Commissioner Of 21, Spartan Nagar, 1St Floor, Vs. Income Tax, Mogappair East, Chennai 600 037. Corporate Circle 5(2), [Pan:Aaacp1952D] Chennai 34. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri D. Anand, Advocate ""थ" की ओर से/Respondent By : Shri Abani Kanta Nayak, Cit सुनवाई की तारीख/ Date Of Hearing : 16.03.2021 घोषणा की तारीख /Date Of Pronouncement : 19.04.2021 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 3, Chennai, Dated 31.01.2017 Relevant To The Assessment Year 2013-14 Challenging The Appellate Order Of Confirming The Levy Of Penalty Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

section 271(1)(c) of the Act towards disallowance of interest expenditure under section 43B of the Act as well

ACIT, CHENNAI vs. M/S. S & P FOUNDATION P. LTD., CHENNAI

In the result, the appeal filed by the assessee is partly allowed and the appeal filed by the Revenue stands allowed

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A. No. 382/Chny/2013 िनधा"रण वष"/Assessment Year: 2007-08 M/S. S&P Foundations Pvt. Ltd., The Assistant Commissioner Of Madley Road, T. Nagar, Vs. Income Tax, Chennai 600 017. Central Circle Iv(2), [Pan:Aaics0224K] Chennai - 34. (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No. 2085/Chny/2013 िनधा"रण वष"/Assessment Year: 2007-08 The Assistant Commissioner Of M/S. S&P Foundations Pvt. Ltd., Income Tax, Central Circle Iv(2), Madley Road, T. Nagar, Vs. Chennai - 34. Chennai 600 017. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Shri G. Baskar, Advocate Shri J. Pavithran Kumar, Jcit Department By : सुनवाई की तारीख/ Date Of Hearing : 15.10.2019 घोषणा की तारीख /Date Of Pronouncement : 28.11.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: These Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) Ii, Chennai, Dated 05.12.2012 Relevant To The Assessment Year 2007-08 Passed Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

disallowance, the Assessing Officer initiated penalty proceedings under section 271(1)(c) of the Act. On appeal, the ld. CIT(A) held

S & P FOUNDATIONS PVT. LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal filed by the assessee is partly allowed and the appeal filed by the Revenue stands allowed

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A. No. 382/Chny/2013 िनधा"रण वष"/Assessment Year: 2007-08 M/S. S&P Foundations Pvt. Ltd., The Assistant Commissioner Of Madley Road, T. Nagar, Vs. Income Tax, Chennai 600 017. Central Circle Iv(2), [Pan:Aaics0224K] Chennai - 34. (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No. 2085/Chny/2013 िनधा"रण वष"/Assessment Year: 2007-08 The Assistant Commissioner Of M/S. S&P Foundations Pvt. Ltd., Income Tax, Central Circle Iv(2), Madley Road, T. Nagar, Vs. Chennai - 34. Chennai 600 017. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Shri G. Baskar, Advocate Shri J. Pavithran Kumar, Jcit Department By : सुनवाई की तारीख/ Date Of Hearing : 15.10.2019 घोषणा की तारीख /Date Of Pronouncement : 28.11.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: These Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) Ii, Chennai, Dated 05.12.2012 Relevant To The Assessment Year 2007-08 Passed Under Section 271(1)(C) Of The Income Tax Act, 1961 [“Act” In Short].

disallowance, the Assessing Officer initiated penalty proceedings under section 271(1)(c) of the Act. On appeal, the ld. CIT(A) held

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 -

disallowance under section 40(a)(i) results in enhancement of business income and the same shall be eligible for enhanced deduction under section 10A/ 10AA of the Act. Others 19. The learned AO has erred in law and facts, by initiating penalty proceedings under section 274 read with section 271

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

Disallowance of escrow fee paid to bank under section 37 at : INR 201,663 and Transfer Pricing adjustments of at INR 1,48,48,492 & INR 40,96,82,652 and penalty proceedings under section 271

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

Disallowance of escrow fee paid to bank under section 37 at : INR 201,663 and Transfer Pricing adjustments of at INR 1,48,48,492 & INR 40,96,82,652 and penalty proceedings under section 271

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

Disallowance of escrow fee paid to bank under section 37 at : INR 201,663 and Transfer Pricing adjustments of at INR 1,48,48,492 & INR 40,96,82,652 and penalty proceedings under section 271

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

Disallowance of escrow fee paid to bank under section 37 at : INR 201,663 and Transfer Pricing adjustments of at INR 1,48,48,492 & INR 40,96,82,652 and penalty proceedings under section 271

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

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

section 271(1)(c) solely on the basis that additions made in assessment order stands confirmed. The learned 1st appellate authority failed to see that the penalty proceedings are independent of assessment proceedings and therefore penalty is not leviable merely on the ground that the additions made in the assessment proceedings are sustained. 5. The leaned Commissioner ought to have

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

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

section 271(1)(c) solely on the basis that additions made in assessment order stands confirmed. The learned 1st appellate authority failed to see that the penalty proceedings are independent of assessment proceedings and therefore penalty is not leviable merely on the ground that the additions made in the assessment proceedings are sustained. 5. The leaned Commissioner ought to have

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT CC4(2), CHENNAI

The appeals stand allowed on similar lines

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

section 271(1)(c) solely on the basis that additions made in assessment order stands confirmed. The learned 1st appellate authority failed to see that the penalty proceedings are independent of assessment proceedings and therefore penalty is not leviable merely on the ground that the additions made in the assessment proceedings are sustained. 5. The leaned Commissioner ought to have

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

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

section 271(1)(c) solely on the basis that additions made in assessment order stands confirmed. The learned 1st appellate authority failed to see that the penalty proceedings are independent of assessment proceedings and therefore penalty is not leviable merely on the ground that the additions made in the assessment proceedings are sustained. 5. The leaned Commissioner ought to have

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

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

section 271(1)(c) solely on the basis that additions made in assessment order stands confirmed. The learned 1st appellate authority failed to see that the penalty proceedings are independent of assessment proceedings and therefore penalty is not leviable merely on the ground that the additions made in the assessment proceedings are sustained. 5. The leaned Commissioner ought to have

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

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

section 271(1)(c) solely on the basis that additions made in assessment order stands confirmed. The learned 1st appellate authority failed to see that the penalty proceedings are independent of assessment proceedings and therefore penalty is not leviable merely on the ground that the additions made in the assessment proceedings are sustained. 5. The leaned Commissioner ought to have

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

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

section 271(1)(c) solely on the basis that additions made in assessment order stands confirmed. The learned 1st appellate authority failed to see that the penalty proceedings are independent of assessment proceedings and therefore penalty is not leviable merely on the ground that the additions made in the assessment proceedings are sustained. 5. The leaned Commissioner ought to have

SHRI MAHAVEERCHAND JAIN,CHENNAI vs. DCIT,CC4(2), CHENNAI

The appeals stand allowed on similar lines

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

section 271(1)(c) solely on the basis that additions made in assessment order stands confirmed. The learned 1st appellate authority failed to see that the penalty proceedings are independent of assessment proceedings and therefore penalty is not leviable merely on the ground that the additions made in the assessment proceedings are sustained. 5. The leaned Commissioner ought to have

GAYATHRI DEVI VYAS, D.SRINIVAS VYAS MANOHAR VYAS VIJAY SHRI LEGAL HEIRS OF LATE SHRI DURGA DAS VYAS,CHENNAI vs. ITO NON CORPORATE WARD 12(5), CHENNAI

In the result, all the appeals filed by both the assessees are dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2691 & 2692/Chny/2018 िनधा"रण वष"/Assessment Years:2001-02 & 2002-03 Shri D. Srinivas Vyas, Vs. The Income Tax Officer, No. 1, D Block, Eashwaran Koil Non Corporate Ward 12(5), Street, West Mambalam, Chennai. Chennai 600 033. [Pan:Abvpv4760G] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos. 2693, 2694, 2695, 2696, 2697 & 2698/Chny/2018 िनधा"रण वष"/Assessment Years:1998-99, 99-2000, 2000-01, 2001-02, 2002-03 & 2003-04 Gayathri Devi Vyas, D. Srinivas Vyas, Vs. The Income Tax Officer, Manohar Vyas, Vijay Shri, Legal Heirs Non Corporate Ward 12(5), Of Late Shri Durga Das Vyas, No. 1, D Chennai. Block, Eashwaran Koil Street, West Mambalam, Chennai 600 033. [Pan:Adapv2591C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N.V. Balaji, Advocate & Ms. N.V. Lakshmi, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 23.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: These Appeals Filed By The Two Different Assessees Are Directed Against The Respective Orders Of The Ld. Commissioner Of Income Tax

disallowing the expenditure of 6 I.T.A. No.2691 & 2692/Chny/18 & 2693 to 2698/Chny/18 ₹.49,34,520/-. Penalty proceedings under section 271(1)© of the Act was also