CHOLAMANDALAM INVESTMENT AND FIANANCE CO. LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(1), CHENNAI

d) of the Act,\nhence it is considered speculative in nature.\nAs per Section 43(5) of the Act, `speculative transaction' means a\ntransaction in which a contract for the purchase or sale of any\ncommodity, including stocks and shares, is periodically or ultimately\nsettled otherwise than by the actual delivery or transfer of the\ncommodity or scrips.\n5.2

ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI vs. M/S CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED, CHENNAI

In the result, the appeal of the Revenue is partly allowed

d) of the Act,\nhence it is considered speculative in nature.\nAs per Section 43(5) of the Act, `speculative transaction' means a\ntransaction in which a contract for the purchase or sale of any\ncommodity, including stocks and shares, is periodically or ultimately\nsettled otherwise than by the actual delivery or transfer of the\ncommodity or scrips.\n5.2

CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED,CHENNAI, TAMIL NADU vs. DEPUTY COMMISSIONER OF INCOME-TAX (DCIT), CHENNAI-1, CHENNAI, TAMIL NADU

In the result, the appeal of the Revenue is partly allowed

d) of the Act,\nhence it is considered speculative in nature.\nAs per Section 43(5) of the Act, `speculative transaction' means a\ntransaction in which a contract for the purchase or sale of any\ncommodity, including stocks and shares, is periodically or ultimately\nsettled otherwise than by the actual delivery or transfer of the\ncommodity or scrips.\n5.2

M/S. COASTAL ENERGY PRIVATE LIMITED REPRESENTED BY LIQUIDATOR,CHENNAI vs. DCIT, CORPORATE CIRCLE-1 (2), CHENNAI, CHENNAI

In the result, appeal filed by the revenue for the assessment year 2008-09 is dismissed and appeals filed by the assessee for the assessment years 2011-12, 2012-13 & 2013-

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1363/Chny/2023 िनधा"रणवष" / Assessment Year: 2008-09 Assistant Commissioner Of Coastal Energy Private Limited Income Tax, Central Circle -1(1) V. (Under Official Liquidator), No.46, M.G. Road, Old No.22, New No.28, Menod Nungambakkam, Street, Purasawakkam, Chennai – 600 034. Chennai – 600 007. [Pan: Aaacc-4160-A] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1364, 1365 & 1366/Chny/2023 िनधा"रणवष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Coastal Energy Private Limited Deputy Commissioner Of Income (Under Official Liquidator), V. Tax, Old No.22, New No.28, Menod Corporate Circle -1(2), Chennai. Street, Purasawakkam, (Now Assessed By Assistant Chennai – 600 007. Commissioner Of Income, [Pan: Aaacc-4160-A] Central Circle -1(1), Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. B. Ramakrishnan, Fca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 11.09.2024 घोषणा क" तारीख/Date Of Pronouncement : 25.10.2024 आदेश /O R D E R

D E R PER S. R. RAGHUNATHA, ACCOUNTANT MEMBER: These appeals are filed by both revenue and the assessee against the separate order of the Commissioner of Income Tax :-2-: ITA. Nos:1363 to 1366 /Chny/2023 (Appeals)-18, Chennai for all the four assessment years dated 29.09.2023. Since, facts are identical and issues are common in all the appeals

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COASTAL ENERGY PRIVATE LIMITED (UNDER OFFICIAL LIQUIDATOR), CHENNAI

In the result, appeal filed by the revenue for the assessment year 2008-09 is dismissed and appeals filed by the assessee for the assessment years 2011-12, 2012-13 & 2013-

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1363/Chny/2023 िनधा"रणवष" / Assessment Year: 2008-09 Assistant Commissioner Of Coastal Energy Private Limited Income Tax, Central Circle -1(1) V. (Under Official Liquidator), No.46, M.G. Road, Old No.22, New No.28, Menod Nungambakkam, Street, Purasawakkam, Chennai – 600 034. Chennai – 600 007. [Pan: Aaacc-4160-A] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1364, 1365 & 1366/Chny/2023 िनधा"रणवष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Coastal Energy Private Limited Deputy Commissioner Of Income (Under Official Liquidator), V. Tax, Old No.22, New No.28, Menod Corporate Circle -1(2), Chennai. Street, Purasawakkam, (Now Assessed By Assistant Chennai – 600 007. Commissioner Of Income, [Pan: Aaacc-4160-A] Central Circle -1(1), Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. B. Ramakrishnan, Fca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 11.09.2024 घोषणा क" तारीख/Date Of Pronouncement : 25.10.2024 आदेश /O R D E R

D E R PER S. R. RAGHUNATHA, ACCOUNTANT MEMBER: These appeals are filed by both revenue and the assessee against the separate order of the Commissioner of Income Tax :-2-: ITA. Nos:1363 to 1366 /Chny/2023 (Appeals)-18, Chennai for all the four assessment years dated 29.09.2023. Since, facts are identical and issues are common in all the appeals

M/S. COASTAL ENERGY PRIVATE LIMITED REPRESENTED BY LIQUIDATOR,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(2), CHENNAI, CHENNAI

In the result, appeal filed by the revenue for the assessment year 2008-09 is dismissed and appeals filed by the assessee for the assessment years 2011-12, 2012-13 & 2013-

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1363/Chny/2023 िनधा"रणवष" / Assessment Year: 2008-09 Assistant Commissioner Of Coastal Energy Private Limited Income Tax, Central Circle -1(1) V. (Under Official Liquidator), No.46, M.G. Road, Old No.22, New No.28, Menod Nungambakkam, Street, Purasawakkam, Chennai – 600 034. Chennai – 600 007. [Pan: Aaacc-4160-A] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1364, 1365 & 1366/Chny/2023 िनधा"रणवष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Coastal Energy Private Limited Deputy Commissioner Of Income (Under Official Liquidator), V. Tax, Old No.22, New No.28, Menod Corporate Circle -1(2), Chennai. Street, Purasawakkam, (Now Assessed By Assistant Chennai – 600 007. Commissioner Of Income, [Pan: Aaacc-4160-A] Central Circle -1(1), Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. B. Ramakrishnan, Fca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 11.09.2024 घोषणा क" तारीख/Date Of Pronouncement : 25.10.2024 आदेश /O R D E R

D E R PER S. R. RAGHUNATHA, ACCOUNTANT MEMBER: These appeals are filed by both revenue and the assessee against the separate order of the Commissioner of Income Tax :-2-: ITA. Nos:1363 to 1366 /Chny/2023 (Appeals)-18, Chennai for all the four assessment years dated 29.09.2023. Since, facts are identical and issues are common in all the appeals

M/S. COASTAL ENERGY PRIVATE LIMITED REPRESENTED BY LIQUIDATOR,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(2),CHENNAI, CHENNAI

In the result, appeal filed by the revenue for the assessment year 2008-09 is dismissed and appeals filed by the assessee for the assessment years 2011-12, 2012-13 & 2013-

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1363/Chny/2023 िनधा"रणवष" / Assessment Year: 2008-09 Assistant Commissioner Of Coastal Energy Private Limited Income Tax, Central Circle -1(1) V. (Under Official Liquidator), No.46, M.G. Road, Old No.22, New No.28, Menod Nungambakkam, Street, Purasawakkam, Chennai – 600 034. Chennai – 600 007. [Pan: Aaacc-4160-A] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1364, 1365 & 1366/Chny/2023 िनधा"रणवष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Coastal Energy Private Limited Deputy Commissioner Of Income (Under Official Liquidator), V. Tax, Old No.22, New No.28, Menod Corporate Circle -1(2), Chennai. Street, Purasawakkam, (Now Assessed By Assistant Chennai – 600 007. Commissioner Of Income, [Pan: Aaacc-4160-A] Central Circle -1(1), Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. B. Ramakrishnan, Fca Assessee By Department By : Shri. A. Sasikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 11.09.2024 घोषणा क" तारीख/Date Of Pronouncement : 25.10.2024 आदेश /O R D E R

D E R PER S. R. RAGHUNATHA, ACCOUNTANT MEMBER: These appeals are filed by both revenue and the assessee against the separate order of the Commissioner of Income Tax :-2-: ITA. Nos:1363 to 1366 /Chny/2023 (Appeals)-18, Chennai for all the four assessment years dated 29.09.2023. Since, facts are identical and issues are common in all the appeals

ASSISSTANT COMMISSIONER OF INCOME CORPORATE CIRCLE 1-1, CHENNAI vs. FL SMIDTH PRIVATE LIMITED, KANCHIPURAM

D' BENCH, CHENNAI\nश्री मनु कुमार गिरि, न्यायिक सदस्य एवं श्री एस. आर. रघुनाथा, लेखा सदस्य के समक्ष\nBEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND\nSHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER\nआयकर अपील सं./ITA No.: 1682/Chny/2024 &\nCO No.71/Chny/2024 (in ITA No.: 1682/Chny/2024)\nनिर्धारण वर्ष / Assessment Year: 2015-16\nAssistant Commissioner of\nIncome Tax,\nCorporate Circle-1(1)\nChennai

ASSISSTANT COMMISIONER OF INCOME TAX CORPORATE CIRCLE 1 1, CHENNAI vs. FL SMITH PRIVATE LIMITED, KANCHIPURAM

In the result, the appeals of the revenue in ITA

D' BENCH, CHENNAI\nश्री मनु कुमार गिरि, न्यायिक सदस्य एवं श्री एस. आर. रघुनाथा, लेखा सदस्य के समक्ष\nBEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND\nSHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER\nआयकर अपील सं./ITA No.: 1682/Chny/2024 &\nCO No.71/Chny/2024 (in ITA No.: 1682/Chny/2024)\nनिर्धारण वर्ष / Assessment Year: 2015-16\nAssistant Commissioner of\nIncome Tax,\nCorporate Circle-1(1)\nChennai

DCIT,CORPORATE CIRCLE, MADURAI vs. M/S STANDARD MATCH INDUSRIES PRIVATE LIMITED, SIVAKASI

The appeal stand allowed for statistical purposes

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.485/Chny/2023 (िनधा)रण वष) / Assessment Year: 2009-10) Dcit M/S. Standard Match Industries Pvt. Ltd. बनाम/ Corporate Circle 5-2-15C, Sattur Road, Vs. Madurai. Sivakasi-626 123. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaccs-5742-A (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Clement Ramesh Kumar (Cit)- Ld. Dr " थ"कीओरसे/Respondent By : Shri S. Sridhar (Advocate) -Ld. Ar सुनवाईकीतारीख/Date Of Final Hearing : 31-01-2024 घोषणाकीतारीख /Date Of Pronouncement : 22-03-2024 आदेश / O R D E R

d) to Section 43(5) when the pre-conditions laid by the Explanation to the said proviso is not satisfied to constitute it as an eligible transaction? As is evident, the sole issue that fall for our consideration is to determine the nature of losses on forward foreign exchange contracts and foreign exchange derivative contracts

TOTAL SECURITIES LTD,MUMBAI vs. DCIT 4(2), MUMBAI

Appeal stand allowed

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1738/Chny/2019 (िनधा1रण वष1 / Assessment Year: 2009-10) M/S. Total Securities Ltd. Acit बनाम/ Eden Garden, First Floor; Corporate Circle-3(1), Opp.To Mca Club, Near Pizza Hut Chennai. Vs. Kandivali, West Mumbai-400 067. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabct-1302-N (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri R. Thulasiram (Advocate) Ld. Ar " थ"कीओरसे/Respondent By : Shri Ar.V.Sreenivasan (Addl Cit) Ld. Sr. Dr सुनवाईकीतारीख/Date Of Hearing : 16-05-2023 घोषणाकीतारीख/Date Of Pronouncement : 07-06-2023 आदेश / O R D E R

disallowance made by Ld. AO could not be sustained in law. We order so. This ground stand allowed. 3. Treatment of Losses as Speculative Losses 3.1 The assessee credited jobbing income of Rs.1799.10 Lacs which was computed as under: - No Particulars Amount Rs. Amount Rs. 1 Cash market Square up transactions 3,33,59,539 cash market, delivery based transactions

ASSISSTANT COMMISSIONER OF INCOME TAX CORPORATE CIRCLE 1 1, CHENNAI vs. FL SMITH PRIVATE LIMITED, KANCHIPURAM

In the result, the appeals of the revenue in ITA

D' BENCH, CHENNAI\nBEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND\nSHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER\nआयकर अपील सं./ITA No.: 1682/Chny/2024 &\nCO No.71/Chny/2024 (in ITA No.: 1682/Chny/2024)\nनिर्धारण वर्ष / Assessment Year: 2015-16\nAssistant Commissioner of\nIncome Tax,\nCorporate Circle-1(1)\nChennai.\nFLSmidth Private Limited,\nvs. 34th Egatoor, FLSmidth House,\nRajiv Gandhi Salai,\nKelambakkam,\nKanchipuram

SIVAKARTHICK RAMAN,MADURAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION, CIRCLE MADURAI

In the result, the appeal of the assessee is allowed in terms of our above order

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:281/Chny/2025 िनधा"रण वष" / Assessment Year: 2022-23 Sivakarthick Raman, The Assistant Commissioner Of 5/200, 2Nd Street, Alagupillai Nagar, Vs. Income Tax, T.Pudukudi, International Taxation Circle, Achampathu, Madurai. Madurai – 625 019. [Pan: Ajnpr-3214-R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/Appellant By : Ms. Preeti Goel, Advocate ""थ" की ओर से/Respondent By : Ms. Anitha, Addl. C.I.T. सुनवाई की तारीख/Date Of Hearing : 21.04.2025 घोषणा की तारीख/Date Of Pronouncement : 07.07.2025 आदेश /O R D E R Per S. R. Raghunatha, Am:

D decision in own case of the Appellant for AY 2020-21 in the case of Nanthakumar Murugesan and Sivakarthick Raman [2024] 165 taxmann.com 304 (Chennai - Trib.) in decision dated 10 June 2024 in Para 8 enclosed as Annexure A held as follows: “After deliberating upon the paper book which includes China tax return, Copy of passport showing total

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. MRF LIMITED, CHENNAI

In the result, appeals filed by the Revenue are dismissed

Bench: Shri Aby T. Varkey & Shri Jagadish

5 :: Vice President [Materials] in his statement recorded on 22.11.2019 wherein he had purportedly admitted that R & D Lab was mainly for sample testing for various vendors and which was for vendor selection. According to the AO, this statement given goes on to show that the assessee’s R & D Lab was not doing any high-end R & D. Further

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. MRF LIMITED, CHENNAI

In the result, appeals filed by the Revenue are dismissed

Bench: Shri Aby T. Varkey & Shri Jagadish

5 :: Vice President [Materials] in his statement recorded on 22.11.2019 wherein he had purportedly admitted that R & D Lab was mainly for sample testing for various vendors and which was for vendor selection. According to the AO, this statement given goes on to show that the assessee’s R & D Lab was not doing any high-end R & D. Further

JCIT(OSD) CORPORATE CIRCLE-1(1) , CHENNAI vs. M/S CHOLAMANDALAM INVESTMENT AND FIANCE COMPPANY LIMITED, CHENNAI

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

Bench: Shri Mahavir Singhand Shri S.R. Raghunatha

D E R PER MAHAVIR SINGH, VICE PRESIDENT: This appeal by the assessee, in ITA No.847/CHNY/2020 for the assessment year 2012-13 is arising out of the order of the Commissioner of Income Tax (Appeals)-1, Chennai in ITA No.74/CIT(A)-1/2015-16 dated 19.02.2020 and the appeals by the assessee & Revenue in ITA Nos.384/CHNY/2023 & 514/CHNY/2023 for the assessment year

JCIT(OSD) CORPORATE CIRCLE-1(1) , CHENNAI vs. M/S CHOLAMANDALAM INVESTMENT AND FIANCE COMPPANY LIMITED, CHENNAI

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

Bench: Shri Mahavir Singhand Shri S.R. Raghunatha

D E R PER MAHAVIR SINGH, VICE PRESIDENT: This appeal by the assessee, in ITA No.847/CHNY/2020 for the assessment year 2012-13 is arising out of the order of the Commissioner of Income Tax (Appeals)-1, Chennai in ITA No.74/CIT(A)-1/2015-16 dated 19.02.2020 and the appeals by the assessee & Revenue in ITA Nos.384/CHNY/2023 & 514/CHNY/2023 for the assessment year

CHOLAMANDALAM INVESTMENT &FINANCE COMPANY LIMITED,PARRYS, CHENNAI vs. ACIT- CORPORATE CIRCLE -1(2), CHENNAI

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

Bench: Shri Mahavir Singhand Shri S.R. Raghunatha

D E R PER MAHAVIR SINGH, VICE PRESIDENT: This appeal by the assessee, in ITA No.847/CHNY/2020 for the assessment year 2012-13 is arising out of the order of the Commissioner of Income Tax (Appeals)-1, Chennai in ITA No.74/CIT(A)-1/2015-16 dated 19.02.2020 and the appeals by the assessee & Revenue in ITA Nos.384/CHNY/2023 & 514/CHNY/2023 for the assessment year