CHOLAMANDALAM MS GENERAL INSURANCE CO. LTD.,CHENNAI vs. PCIT-4,, CHENNAI

80M of the Act, in case of\ndomestic companies opting for taxation under these sections with\neffect from 01 April 2020 i.e., AY 2020-21 Onwards (extract of\nMemorandum to Finance Bill is in Page no. 415 and Finance Bill is in\nPage No 418 of the Factual Paperbook). However, in the Finance Act\nthe above amendment was given effect

THE KARUR VYSYA BANK LTD.,KARUR vs. ADDL. CIT, TRICHY

In the result, I.T.A. Nos

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1340 & 1341/Mds/2013 "नधा"रण वष" / Assessment Years : 2003-04 & 2005-06

disallowance of tax-free income under Section 80M of the Act. 51. We have heard Ld.counsel for the assessee and Ld. Departmental

THE KARUR VYSYA BANK LTD.,KARUR vs. ADDL. CIT, TRICHY

In the result, I.T.A. Nos

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1340 & 1341/Mds/2013 "नधा"रण वष" / Assessment Years : 2003-04 & 2005-06

disallowance of tax-free income under Section 80M of the Act. 51. We have heard Ld.counsel for the assessee and Ld. Departmental

ACIT, TRICHY vs. THE KARUR VYSYA BANK LTD., KARUR

In the result, I.T.A. Nos

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1340 & 1341/Mds/2013 "नधा"रण वष" / Assessment Years : 2003-04 & 2005-06

disallowance of tax-free income under Section 80M of the Act. 51. We have heard Ld.counsel for the assessee and Ld. Departmental

ACIT, TRICHY vs. THE KARUR VYSYA BANK LTD., KARUR

In the result, I.T.A. Nos

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1340 & 1341/Mds/2013 "नधा"रण वष" / Assessment Years : 2003-04 & 2005-06

disallowance of tax-free income under Section 80M of the Act. 51. We have heard Ld.counsel for the assessee and Ld. Departmental

INDBANK MERCHANT BANKING SERVICES LIMITED,CHENNAI vs. DCIT CORP CIRCLE 2 (2), CHENNAI

The appeal stands partly allowed in terms of our above order

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

Section 80M (as existed in that year) provide that where gross total income of a domestic company (recipient) includes any income by way of dividends from another domestic company then the recipient shall be allowed a deduction of an amount equal to so much of the amount of income by way of dividends from another domestic company as does

ACIT LTU 2, CHENNAI vs. INDIAN OVERSEAS BANK, CHENNAI

In the result, the appeal of the assessee (ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.775/Chny/2018 (िनधा"रणवष" / Assessment Year: 2010-2011 ) Indian Overseas Bank, Vs. The Deputy Commissioner Of 763, Anna Salai, Income Tax, Chennai 600 002. Large Taxpayer Unit-2, Chennai 600 034. आयकरअपील सं./ Ita No.946/Chny/2018 (िनधा"रणवष" / Assessment Year: 2010-2011. ) The Assistant Commissioner Of Vs. Indian Overseas Bank, Income Tax, 763, Anna Salai, Large Taxpayer Unit-2, Chennai 600 002. Chennai 600 034. [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 : 06.08.2024 घोषणा क" तार"ख /Date Of Pronouncement : 29.08.2024

disallowance under Sec 144. In view of the above, I have reason to believe that income chargeable to tax has escaped assessment and accordingly, the assessment needs to be reopened u/s 147 of the Income tax Act." 9. We may refer relevant portion of the judgment of the Hon’ble Supreme Court of India in the case of Kelvinator

INDIAN OVERSEAS BANK,CHENNAI vs. DCIT LTU-2, CHENNAI

In the result, the appeal of the assessee (ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.775/Chny/2018 (िनधा"रणवष" / Assessment Year: 2010-2011 ) Indian Overseas Bank, Vs. The Deputy Commissioner Of 763, Anna Salai, Income Tax, Chennai 600 002. Large Taxpayer Unit-2, Chennai 600 034. आयकरअपील सं./ Ita No.946/Chny/2018 (िनधा"रणवष" / Assessment Year: 2010-2011. ) The Assistant Commissioner Of Vs. Indian Overseas Bank, Income Tax, 763, Anna Salai, Large Taxpayer Unit-2, Chennai 600 002. Chennai 600 034. [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 : 06.08.2024 घोषणा क" तार"ख /Date Of Pronouncement : 29.08.2024

disallowance under Sec 144. In view of the above, I have reason to believe that income chargeable to tax has escaped assessment and accordingly, the assessment needs to be reopened u/s 147 of the Income tax Act." 9. We may refer relevant portion of the judgment of the Hon’ble Supreme Court of India in the case of Kelvinator

M/S. TAMIL NADU INDUSTRIAL DEVELOPMENT CORPOR,CHENNAI vs. ACIT,, CHENNAI

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

Bench: Mahavir Singh & Shri M. Balaganeshआयकर अपील सं./I.T.A.No.1181/Chny/2008 ("नधा"रण वष" / Assessment Year: 2003-04) M/S. Tamilnadu Industrial Vs The Acit, Development Corporation Limited, Company Circle – Iii(1), 19-A, Rukmini Lakshmipathy Salai, Chennai – 34. Egmore, Chennai – 600 008. Pan: Aaact3409P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri Abani Kanta Nayak, Cit

Section 56(2)(i) of the Act. Accordingly, it had held that assessee would be entitled to set-off of brought forward business loss and unabsorbed depreciation of earlier years against the said dividend income. 7. The Ld.AR also placed his reliance on the decision of this Tribunal in assessee’s own case reported