DCIT, CORPORATE CIRCLE - 1 (1),, CHENNAI vs. M/S. ACCEL LTD.,, CHENNAI
In the result, all the appeals filed by the Revenue and the CO filed by the assessee are dismissed
ITA 2169/CHNY/2019[2014-15]Status: DisposedITAT Chennai07 Aug 2024AY 2014-15
Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1910, 2167, 2168 & 2169/Chny/2019 िनधा"रण वष"/Assessment Years: 2007-08, 2012-13, 2013-14 & 2014-15 & C.O. No. 4/Chny/2020 [In Ita No. 2167/Chny/2019 The Deputy Commissioner Of Vs. M/S. Accel Limited, Income Tax, Corporate Circle 1(1), No. 75, Nelson Manickam Road, Chennai 600 034. Aminjikarai, Chennai 600 029. [Pan: Aaaca3042P] (अपीलाथ"/Appellant) (""थ"/Respondent/Cross Objector) Department By : Shri G. Suresh, Jcit Assessee By : None सुनवाई की तारीख/ Date Of Hearing : 04.07.2024 घोषणा की तारीख /Date Of Pronouncement : 07.08.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Appeals Filed By The Department Are Directed Against Two Different Orders Both Dated 29.03.2019 Passed By The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai For The Assessment Years 2007-08, 2012-13, 2013-14 & 2014-15. 2. None Appeared On Behalf Of The Assessee Nor Filed Any Application Seeking Adjournment. Thus, The Assessee Called Absent & Treated Exparte.
For Appellant: NoneFor Respondent: Shri G. Suresh, JCIT
Section 143(2)
house property is accepted as business income, the interest paid on borrowed loans should be allowed as deduction. Thus, the ground No. 2 raised by the Revenue is dismissed.
10. Ground Nos. 3 & 4 raised by the Revenue in challenging the action of the ld. CIT(A) in treating long term capital loss on transfer of shares to subsidiary company
