ACIT CIRCLE 1, TRICHY vs. DALMIA CEMENT BHARAT LTD., DALMIAPURAM

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

72A,72AB and 72AA deal with the exceptions. In respect of carry forward of loss and set off in the cases of amalgamation or demerger etc. Sec.72A is attracted. In this section for the definition ITA Nos. 5416 & 5417/Del/2017 along with other cases Accumulated Loss, the loss under the Profits and Gains of Business or Profession(Not being a loss

ACIT CIRCLE 1, TRICHY vs. DALMIA CEMENT BHARAT LTD., DALMIAPURAM

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

72A,72AB and 72AA deal with the exceptions. In respect of carry forward of loss and set off in the cases of amalgamation or demerger etc. Sec.72A is attracted. In this section for the definition ITA Nos. 5416 & 5417/Del/2017 along with other cases Accumulated Loss, the loss under the Profits and Gains of Business or Profession(Not being a loss

BHARAT TECHNOLOGIES AUTO COMPONENTS LIMITED,CHENNAI vs. ITO, COMPANY WARD 1(1), CHENNAI

In the result, appeals filed by the assessee are allowed for statistical

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos.1841, 1842 & 1843/Chny/2024 िनधा"रण वष"/Assessment Years: 2003-04, 2004-05 & 2006-07 V. M/S. Bharat Technologies Auto – The Ito, Components Ltd., Company Ward-1(1), 177 Raheja Towers, Chennai. 7Th Floor, Unit No.708, Beta Wing, Anna Salai, Chennai-600 002. [Pan: Aabcb 9835 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

disallowance of such validly claimed deduction was wrong, erroneous, incorrect, invalid, unjustified and not sustainable both on facts and in law. 9. The NFAC, Delhi failed to appreciate that provisions of Section 72A(2

BHARAT TECHNOLOGIES AUTO COMPONENTS LIMITED,CHENNAI vs. ITO, COMPANY WARD 1(1), CHENNAI

In the result, appeals filed by the assessee are allowed for statistical

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos.1841, 1842 & 1843/Chny/2024 िनधा"रण वष"/Assessment Years: 2003-04, 2004-05 & 2006-07 V. M/S. Bharat Technologies Auto – The Ito, Components Ltd., Company Ward-1(1), 177 Raheja Towers, Chennai. 7Th Floor, Unit No.708, Beta Wing, Anna Salai, Chennai-600 002. [Pan: Aabcb 9835 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

disallowance of such validly claimed deduction was wrong, erroneous, incorrect, invalid, unjustified and not sustainable both on facts and in law. 9. The NFAC, Delhi failed to appreciate that provisions of Section 72A(2

BHARAT TECHNOLOGIES AUTO COMPONENTS LIMITED,CHENNAI vs. ITO, COMPANY WARD 1(1), CHENNAI

In the result, appeals filed by the assessee are allowed for statistical

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos.1841, 1842 & 1843/Chny/2024 िनधा"रण वष"/Assessment Years: 2003-04, 2004-05 & 2006-07 V. M/S. Bharat Technologies Auto – The Ito, Components Ltd., Company Ward-1(1), 177 Raheja Towers, Chennai. 7Th Floor, Unit No.708, Beta Wing, Anna Salai, Chennai-600 002. [Pan: Aabcb 9835 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

disallowance of such validly claimed deduction was wrong, erroneous, incorrect, invalid, unjustified and not sustainable both on facts and in law. 9. The NFAC, Delhi failed to appreciate that provisions of Section 72A(2

ROCA BATHROOM PRODUCTS P LTD,CHENNAI vs. DCIT,LTU-1, CHENNAI

In the result, the assessee’s appeal is dismissed

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

disallowed the assessee’s claim and completed the assessment . Aggrieved, the assessee filed an appeal before the CIT (A). The Ld. CIT(A) relying the Supreme Court decision in the case of Smt. Tarulata Shyam and others v. CIT, West Bengal (1977) 108 ITR 345 (SC) held that the AO is right in strictly interpreting the provisions

INDIAN OVERSEAS BANK,CHENNAI vs. DCIT,LTU(2), CHENNAI

Accordingly, this ground of Revenue is dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita Nos.661/Chny/2019, 202 & 203/Chny/2023 (िनधा"रणवष" / Assessment Years: 2015-16, 2016-17 & 2017-2018) Indian Overseas Bank, Vs. The Assistant Commissioner Of 763, Anna Salai, Income Tax, Chennai 600 002. Ltu (2) Chennai. आयकरअपील सं./ Ita Nos.914/Chny/2019, 253 & 254/Chny/2023 (िनधा"रणवष" / Assessment Years: 2015-16, 2016-17&2017-2018) The Assistant Commissioner Of Vs. Indian Overseas Bank, Income Tax, 763, Anna Salai, Ltu (2) Chennai 600 002. Chennai. [Pan: Aaaci 1223J] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. C. Naresh, C.A., Department By : Shri. A. Sasikumar, Irs. Cit. सुनवाई क" तार"ख/Date Of Hearing : 14.11.2024 घोषणा क" तार"ख /Date Of Pronouncement : 31.12.2024

disallowed u/s. 43B for the reason that leave provision is a contractual liability and therefore, it cannot be treated at par with tax, duty, cess or fee u/s. 43B. However, in the SLP (Civil) Nos. 22889/2008 dated 08.05.2009 in the case of CIT &ors. Vs M/s. Exide Industries Ltd & ANR, wherein, the Apex Court held that “ pending hearing and final

SRINIVASA FASHIONS PVT LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA Nos 1965, 1966 & 1967 are

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 1965, 1966, 1967, 1968 /Mds/2016 & 2096/Mds/2017 "नधा"रण वष"/Assessment Years : 2008-09, 2008-09, 2010-11, 2011-12& 2009-10 M/S. Srinivasa Fashions Pvt. Ltd., Deputy Commissioner Of Income Tax, 1A, Regency Apartments, Vs. Corporate Circle -6(2), No. 5, 1St Lane, Aayakar Bhavan, New Block, 7Th Floor, 121 M.G. Road, Nungambakkam High Road, Chennai - 600 034. Chennai - 600 034. [Pan: Aaics 9511R]

72A(6) r.w.s 47(xii) is applicable and directed the AO to allow claim of set off of unabsorbed depreciation after verification of conditions as laid down in section 47(xii) from the relevant records. Thus, the CIT(A) allowed the assessee’s grounds of appeal . 5. Aggrieved against the above orders of the CIT(A) i.e., on the original

SRINIVASA FASHIONS PVT LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA Nos 1965, 1966 & 1967 are

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 1965, 1966, 1967, 1968 /Mds/2016 & 2096/Mds/2017 "नधा"रण वष"/Assessment Years : 2008-09, 2008-09, 2010-11, 2011-12& 2009-10 M/S. Srinivasa Fashions Pvt. Ltd., Deputy Commissioner Of Income Tax, 1A, Regency Apartments, Vs. Corporate Circle -6(2), No. 5, 1St Lane, Aayakar Bhavan, New Block, 7Th Floor, 121 M.G. Road, Nungambakkam High Road, Chennai - 600 034. Chennai - 600 034. [Pan: Aaics 9511R]

72A(6) r.w.s 47(xii) is applicable and directed the AO to allow claim of set off of unabsorbed depreciation after verification of conditions as laid down in section 47(xii) from the relevant records. Thus, the CIT(A) allowed the assessee’s grounds of appeal . 5. Aggrieved against the above orders of the CIT(A) i.e., on the original

DCIT, CHENNAI vs. SRINIVASA FASHIONS LTD., CHENNAI

In the result, the assessee’s appeals in ITA Nos 1965, 1966 & 1967 are

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 1965, 1966, 1967, 1968 /Mds/2016 & 2096/Mds/2017 "नधा"रण वष"/Assessment Years : 2008-09, 2008-09, 2010-11, 2011-12& 2009-10 M/S. Srinivasa Fashions Pvt. Ltd., Deputy Commissioner Of Income Tax, 1A, Regency Apartments, Vs. Corporate Circle -6(2), No. 5, 1St Lane, Aayakar Bhavan, New Block, 7Th Floor, 121 M.G. Road, Nungambakkam High Road, Chennai - 600 034. Chennai - 600 034. [Pan: Aaics 9511R]

72A(6) r.w.s 47(xii) is applicable and directed the AO to allow claim of set off of unabsorbed depreciation after verification of conditions as laid down in section 47(xii) from the relevant records. Thus, the CIT(A) allowed the assessee’s grounds of appeal . 5. Aggrieved against the above orders of the CIT(A) i.e., on the original

SRINIVASA FASHIONS PVT. LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-6(2), CHENNAI

In the result, the assessee’s appeals in ITA Nos 1965, 1966 & 1967 are

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 1965, 1966, 1967, 1968 /Mds/2016 & 2096/Mds/2017 "नधा"रण वष"/Assessment Years : 2008-09, 2008-09, 2010-11, 2011-12& 2009-10 M/S. Srinivasa Fashions Pvt. Ltd., Deputy Commissioner Of Income Tax, 1A, Regency Apartments, Vs. Corporate Circle -6(2), No. 5, 1St Lane, Aayakar Bhavan, New Block, 7Th Floor, 121 M.G. Road, Nungambakkam High Road, Chennai - 600 034. Chennai - 600 034. [Pan: Aaics 9511R]

72A(6) r.w.s 47(xii) is applicable and directed the AO to allow claim of set off of unabsorbed depreciation after verification of conditions as laid down in section 47(xii) from the relevant records. Thus, the CIT(A) allowed the assessee’s grounds of appeal . 5. Aggrieved against the above orders of the CIT(A) i.e., on the original

SRINIVASA FASHIONS PVT LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA Nos 1965, 1966 & 1967 are

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 1965, 1966, 1967, 1968 /Mds/2016 & 2096/Mds/2017 "नधा"रण वष"/Assessment Years : 2008-09, 2008-09, 2010-11, 2011-12& 2009-10 M/S. Srinivasa Fashions Pvt. Ltd., Deputy Commissioner Of Income Tax, 1A, Regency Apartments, Vs. Corporate Circle -6(2), No. 5, 1St Lane, Aayakar Bhavan, New Block, 7Th Floor, 121 M.G. Road, Nungambakkam High Road, Chennai - 600 034. Chennai - 600 034. [Pan: Aaics 9511R]

72A(6) r.w.s 47(xii) is applicable and directed the AO to allow claim of set off of unabsorbed depreciation after verification of conditions as laid down in section 47(xii) from the relevant records. Thus, the CIT(A) allowed the assessee’s grounds of appeal . 5. Aggrieved against the above orders of the CIT(A) i.e., on the original

SRINIVASA FASHIONS PVT LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA Nos 1965, 1966 & 1967 are

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 1965, 1966, 1967, 1968 /Mds/2016 & 2096/Mds/2017 "नधा"रण वष"/Assessment Years : 2008-09, 2008-09, 2010-11, 2011-12& 2009-10 M/S. Srinivasa Fashions Pvt. Ltd., Deputy Commissioner Of Income Tax, 1A, Regency Apartments, Vs. Corporate Circle -6(2), No. 5, 1St Lane, Aayakar Bhavan, New Block, 7Th Floor, 121 M.G. Road, Nungambakkam High Road, Chennai - 600 034. Chennai - 600 034. [Pan: Aaics 9511R]

72A(6) r.w.s 47(xii) is applicable and directed the AO to allow claim of set off of unabsorbed depreciation after verification of conditions as laid down in section 47(xii) from the relevant records. Thus, the CIT(A) allowed the assessee’s grounds of appeal . 5. Aggrieved against the above orders of the CIT(A) i.e., on the original

M/S. CHENNAI NOBLE HOSPITALS PVT. LTD.,CHENNAI vs. ITO, CORPORATE WARD-1(3), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shri Jagadish

disallowed the benefit u/s 115BAA for this AY 2023-24. Ld. Counsel for the assessee further referred second proviso to sub-section (5) of section 3 115BAA and submits that once option has been exercised by the assessee for any previous year, it cannot be subsequently withdrawn for the same or any previous year. Ld. Counsel for the assessee further

INDIA PISTONS LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 2(2), CHENNAI

In the result the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.2339 & 2340/Chny/2017 "नधा"रण वष" /Assessment Years :2010-11 & 2011-12. M/S. India Pistons Limited, The Deputy Commissioner Of Vs. Huzur Gardens, Income Tax, Sembium, Corporate Circle 2(2) Chennai 600 011. Chennai.

2.... Explanation 3... Explanation 4... Explanation 5... (iia) in the case of any new machinery or plant (other than ships and aircraft), which has been acquired and installed after the 31st day of March, 2005, by an assessee engaged in the business of manufacture or production of any article or thing or generation or generation and distribution of power

DCIT CORPORATE CIRCLE 2(2), CHENNAI vs. INDIA PISTON LTD., CHENNAI

In the result the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.2339 & 2340/Chny/2017 "नधा"रण वष" /Assessment Years :2010-11 & 2011-12. M/S. India Pistons Limited, The Deputy Commissioner Of Vs. Huzur Gardens, Income Tax, Sembium, Corporate Circle 2(2) Chennai 600 011. Chennai.

2.... Explanation 3... Explanation 4... Explanation 5... (iia) in the case of any new machinery or plant (other than ships and aircraft), which has been acquired and installed after the 31st day of March, 2005, by an assessee engaged in the business of manufacture or production of any article or thing or generation or generation and distribution of power

INDIA PISTONS LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 2(2), CHENNAI

In the result the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.2339 & 2340/Chny/2017 "नधा"रण वष" /Assessment Years :2010-11 & 2011-12. M/S. India Pistons Limited, The Deputy Commissioner Of Vs. Huzur Gardens, Income Tax, Sembium, Corporate Circle 2(2) Chennai 600 011. Chennai.

2.... Explanation 3... Explanation 4... Explanation 5... (iia) in the case of any new machinery or plant (other than ships and aircraft), which has been acquired and installed after the 31st day of March, 2005, by an assessee engaged in the business of manufacture or production of any article or thing or generation or generation and distribution of power

DCIT CORPORATE CIRCLE 2(2), CHENNAI vs. INDIA PISTON LTD., CHENNAI

In the result the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.2339 & 2340/Chny/2017 "नधा"रण वष" /Assessment Years :2010-11 & 2011-12. M/S. India Pistons Limited, The Deputy Commissioner Of Vs. Huzur Gardens, Income Tax, Sembium, Corporate Circle 2(2) Chennai 600 011. Chennai.

2.... Explanation 3... Explanation 4... Explanation 5... (iia) in the case of any new machinery or plant (other than ships and aircraft), which has been acquired and installed after the 31st day of March, 2005, by an assessee engaged in the business of manufacture or production of any article or thing or generation or generation and distribution of power