ACIT, CHENNAI vs. GREEN HOUSE PROMOTERS PRIVATE LTD., CHENNAI

In the result, the appeals of the Revenue in ITA Nos

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddyआयकर अपील सं./Ita Nos. 1785, 1796 & 1828/Mds/2015 "नधा"रण वष" /Assessment Years :2010-11, 2011-12 & 2009-2010. The Assistant Commissioner Of Income M/S. Green House Promoters Tax Vs. Pvt. Ltd, Company Circle Ii(1) No.4,Rama Rao Street, Chennai. T. Nagar, Chennai 600 017. [Pan Aaccg 2333B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Housing Private Limited -ITA No.1097(Mad.)/2011 dated 21.03.2103, purchase cost of the lands in a real estate business can be treated as exempted under the Rule 6DD and hence cannot be subjected to the provisions of section 40A(3) of the Act. In view of the decision of the Tribunal in the above case, ld. Commissioner of Income

ACIT, CHENNAI vs. GREEN HOUSE PROMOTERS P. LTD., CHENNAI

In the result, the appeals of the Revenue in ITA Nos

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddyआयकर अपील सं./Ita Nos. 1785, 1796 & 1828/Mds/2015 "नधा"रण वष" /Assessment Years :2010-11, 2011-12 & 2009-2010. The Assistant Commissioner Of Income M/S. Green House Promoters Tax Vs. Pvt. Ltd, Company Circle Ii(1) No.4,Rama Rao Street, Chennai. T. Nagar, Chennai 600 017. [Pan Aaccg 2333B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Housing Private Limited -ITA No.1097(Mad.)/2011 dated 21.03.2103, purchase cost of the lands in a real estate business can be treated as exempted under the Rule 6DD and hence cannot be subjected to the provisions of section 40A(3) of the Act. In view of the decision of the Tribunal in the above case, ld. Commissioner of Income

UPPU KARUNASESH,CHENNAI vs. JCIT, CHENNAI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.978 & 979/Chny/2015 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

3) The provisions of sub-section (2) shall not apply if? (a) the house or part of the house is actually let during the whole or any part of the previous year ; or (b) any other benefit therefrom is derived by the owner. (4) Where the property referred to in sub-section (2) consists of more than one house

UPPU KARUNASESH,CHENNAI vs. JCIT, CHENNAI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.978 & 979/Chny/2015 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

3) The provisions of sub-section (2) shall not apply if? (a) the house or part of the house is actually let during the whole or any part of the previous year ; or (b) any other benefit therefrom is derived by the owner. (4) Where the property referred to in sub-section (2) consists of more than one house

TAMIL NADU BRICK INDUSTRIES,CHENNAI vs. ITO, CHENNAI

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.744/Chny/2017 "नधा"रण वष"/Assessment Year:2013-14 M/S. Tamilnadu Brick Industries, The Income Tax Officer, No. 47, Mangali Nagar 1St Street, Vs. Non Corporate Circle 8(1), Arumbakkam, Chennai 600 106. Chennai. [Pan: Aafft3643P] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Shri Vijay Kumar Punna, Jr. Standing Counsel सुनवाई क" तार"ख/ Date Of Hearing : 13.02.2018 घोषणा क" तार"ख /Date Of Pronouncement : 11.05.2018 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) 9, Chennai, Dated 27.02.2017 Relevant To The Assessment Year 2013-14. The Assessee Has Raised The Following Grounds: “1. The Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 27.02.2017 In I.T.A.No.07/Cit(A)-9/2016-17 For The Above Mentioned Assessment Year Is Contrary To Law, Facts & In The Circumstances Of The Case.

section 2(47)(v) in the year under appeal. 5. Reference to Valuation Cell u/s 50C(2) not made: 5.1 Reference to valuation cell was not made by the AC in spite of the request by the Appellant, as provided in Sec. 50C (2) of the l.T. Act., particularly when the market value of the impugned property was found

DURAISAMY SENTHIL KUMAR,ERODE vs. ITO, ERODE

In the result, appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh, Vice- & Shri Manjunatha.Gआयकरअपीलसं./I.T.A.No.552/Chny/2023 ("नधा"रणवष" / Assessment Year: 2018-19) Shri Duraisamy Senthil Kumar Vs The Income Tax Officer, 16, Muthurangam Street, Erode. Erode-638 001. Pan: Alwps 8708C (अपीलाथ"/Appellant) (""यथ"/Respondent)

3) r.w.s. 143(3A) & 143(3B) of the Income Tax Act, 1961, on 12.04.2021 and determined total income at Rs.5,73,760/-. During the course of assessment proceedings, on the basis of information submitted by the assessee, the Assessing Officer noticed that the assessee has computed loss from ‘income from house property’ and carried forward house property loss of Rs.15

THAJUNNISSA BEGUM ,CHENNAI vs. ITO,NON CORPORATE WARD -10(4), CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 196/Chny/2022 िनधा"रण वष" / Assessment Year: 2013-14 Mrs. Thajunnissa Begum, Income Tax Officer, No. 3, Prasanna Vinayagar V. Non Corporate Ward -10(4), Kovil St., Chennai. 235, Poonamalle High Road, Chennai – 600 029. [Pan: Adcpt-2186-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Y. Sridhar, Fca ""यथ" क" ओर से/Respondent By : Shri. D. Hema Bhupal, Jcit सुनवाई की तारीख/Date Of Hearing : 16.02.2023 घोषणा की तारीख/Date Of Pronouncement : 28.02.2023

10. The Ld. DR, on the other hand supporting the order of the CIT(A) submitted that, the assessee is not entitled for exemption u/s. 54 of the Act, because the original asset sold by the assessee is not a residential house property. Further, the assessee is also not entitled for exemption u/s. 54F of the Act, because new house

DYNACON EQUIPMENTS PVT LTD.,CHENNAI vs. ACIT CORPORATE CIRCLE 1(4), CHENNAI

In the result, the appeal filed by assessee in ITA

Bench: Shri Ramit Kochar & Shri Duvvuru R.L.Reddy

10 -: computing income and permissible deductions which are contained in different provisions of the Act for each of the aforesaid heads, are to be applied. For example, provisions for computing the income from house property are contained in Sections 22 to 27 of the Act and profits and gains of business or profession are to be computed

DYNACON EQUIPMENTS PVT. LTD.,CHENNAI vs. ACIT CORPORATE CIRCLE 1(4), CHENNAI

In the result, the appeal filed by assessee in ITA

Bench: Shri Ramit Kochar & Shri Duvvuru R.L.Reddy

10 -: computing income and permissible deductions which are contained in different provisions of the Act for each of the aforesaid heads, are to be applied. For example, provisions for computing the income from house property are contained in Sections 22 to 27 of the Act and profits and gains of business or profession are to be computed

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

Bench: This Tribunal.

Section 56(2)(vii)(c) 92,95,305 (15.1-15.5) Foreign Travel Expenses Unexplained investment u/s 69 Unexplained money 2,48,407 (11.5) 8,24,774 (13.4) 1,68,000 (12.5) 25,200 (12.6) 3,40,000 (12.7) 1,50,000 (14.1-14.6) 3,96,016 (11.5) 8,25,418 (13.4) 1,68,000 (12.5) 25,200 (12.6) 3

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

Bench: This Tribunal. 2. Since, The Facts Are The Identical Across All The Appeals / For All The Assessment Years, Except For The Nature Of The Additions / Disallowances Varying In Few Of The Assessment Year(S) Before This Tribunal In The Present Batch Of 6 Appeals, The Appeal Arising From The A.Y. 2012-13 Is Being Taken Up As The Lead Case With The Consent Of The Both The Ld. Ar As Well As The Departmental Representatives. 3. The Brief Fact Of The Present Case Is That The Assessee, Shri Thanushkodi Narayanan, Is The Managing Director Of M/S.Annai Builders Real Estates Pvt Ltd. The Assessee Filed His Original Return Of Income For The A.Y. 2012-13 On 27.09.2012 In Declaring A Total Income Of Rs.24,87,430/-. 4. A Search & Seizure Operation Was Carried Out In Terms Of Section 132 Of The Act On 04.10.2017 In The Residential Premises Of The Assessee & Also In The Premises Of M/S.Annai Builders Real Estates Pvt. Ltd. In Which The Assessee Is The Managing Director. 5. Thereafter, A Notice U/S.153A Of The Act For The A.Y.2012-13 Was Issued On 25.09.2018 To The Assessee By The Assessing Officer (In Short “Ao”) & In Response To The Same, The Assessee Had Filed E-Return Of Income For The A.Y. 2012-13 On 17.08.2019 In Declaring Total Income Of Rs.14,53,440/-. :-3-:

House Property by following the procedure laid down under the Act at para 6.4.6., had confirmed the addition of Rs.1,38,70,048/- made as deemed dividend u/s.2(22)(e) of the Act at para 6.5.3 and confirmed the addition of Rs.92,95,305/- made u/s.56(2)(viii)(c) of the Act at para 6.6.5 of the impugned order

ACIT, CC- 6(2),, CHENNAI vs. S.N. DAMANI INFRA PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita No.: 3324/Chny/2019 िनधा"रण वष" / Assessment Year: 2014-15 Assistant Commissioner Of Income S.N. Damani Infra Pvt. Ltd., Tax, V. No. 6, Ground Floor, Corporate Circle 6 (2), Rayala Tower, Chennai. 781-785, Anna Salai, Chennai – 600 002. [Pan: Aaocs 0334C] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenivasan, Addl. Cit ""यथ" क" ओर से/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 30.11.2021 आदेश /O R D E R

section 27 (iiib) - Accordingly, income earned from letting out shops and stalls was taxed under head 'income from house property' - :-10-: ITA. No: 3324/Chny/2019 Tribunal as well as High Court upheld order of Assessing Officer - Whether since assessee had not established that it was engaged in any systematic or organized activity of providing service to occupiers of shops/stalls, mere fact

DCIT NON CORPORATE CIRCLE 1, CHENNAI vs. MUTHU DANIEL RAJAN, CHENNAI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Section 54F, and had denied the benefit of claim of exemption U/s 54F, amounting to a value of Rs 2,60,54,377/-. 3. The appellant had purchased a residential house at Besant Nagar in the Assessment Year of 2012-13; and to meet out the costs of purchase; had sold his lands at Kunnakkadu in this Assessment Year

DCIT NON CORPORATE CIRCLE 1, CHENNAI vs. MUTHU DANIEL RAJAN, CHENNAI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Section 54F, and had denied the benefit of claim of exemption U/s 54F, amounting to a value of Rs 2,60,54,377/-. 3. The appellant had purchased a residential house at Besant Nagar in the Assessment Year of 2012-13; and to meet out the costs of purchase; had sold his lands at Kunnakkadu in this Assessment Year

MUTHU DANIEL RAJAN,CHENNAI vs. CIT CORPORATE CIRCLE 1, CHENNAI

In the result, appeal filed by the Revenue in ITA No

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Section 54F, and had denied the benefit of claim of exemption U/s 54F, amounting to a value of Rs 2,60,54,377/-. 3. The appellant had purchased a residential house at Besant Nagar in the Assessment Year of 2012-13; and to meet out the costs of purchase; had sold his lands at Kunnakkadu in this Assessment Year

ACIT (OSD) CORPORATE CIRCLE 4(2), CHENNAI vs. KKA BUILDTECH PRIVATE LIMITED, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.1159/Chny/2019 िनधा"रण वष" /Assessment Year: 2014-15

section 22 provides that rental income from property, being building or land appurtenant thereto, of which the taxpayer is the owner is charged to tax under, the head "Income from house property". It will not make any difference whether the property held by the owner as stock in trade or otherwise. Thus, in respect of property held as stock

ADHI KUMARA GURU,CHENNAI vs. DCIT, NCC-22(1), CHENNAI

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

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri Amitabh Shuklaमाननीय "ी मनु कुमार िग"र, "ाियक सद" एवं माननीय "ी अिमताभ शु"ा, लेखा सद" के सम"

section 54F of the Act, the claim of exemption u/s.54F of the Act in respect of the the Act, the claim of exemption u/s.54F of the Act in respect of the the Act, the claim of exemption u/s.54F of the Act in respect of the property sold during the financial year 2013 property sold during the financial year

ITO, NON CORPORATE WARD -15(3), CHENNAI vs. SHRI RAMACHANDRA RAMAN, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the Cross Objection filed by the assessee is allowed

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No.124/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 & C.O. No. 58/Chny/2018 [In I.T.A. No.124/Chny/2018] The Income Tax Officer, Vs. Shri Ramachandra Raman, Non Corporate Ward 15(3), 21B, Deccan Parvathy, 2Nd Floor, Room No. 206, Wanaparthy Kannappa Nagar Extension, Block, 121, M.G. Road, Thiruvanmiyur, Chennai 41. Chennai – 600 034. [Pan: Aehpr6467D] (अपीलाथ" /Appellant) (""थ"/Respondent/Cross Objector) Department By : Shri Sajit Kumar, Jcit Assessee By : Shri T. Banusekar, C.A. सुनवाई की तारीख/ Date Of Hearing : 17.05.2022 घोषणा की तारीख /Date Of Pronouncement : 08.06.2022 आदेश /O R D E R Per V. Durga Rao: The Appeal Filed By The Revenue & The Cross Objection Filed By The Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai, Dated 28.09.2017 Relevant To The Assessment Year 2009-10. 2. The Cross Objection Filed By The Assessee Is In Respect Of Reopening Of Assessment Under Section 147 Of The Income Tax Act

house property at Shanti Avenue is the ancestral property of Mr. N. Sivakumar. The deduction claimed under section 54F was duly verified and checked whether all conditions as mentioned in the Act were complied with by the assessee. The claim of deduction under section S4F is restricted to Rs.45,58,932 because of the reason mentioned in Para