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

10 :: 12. It is further noted that the Tribunal has dealt with the disallowance made due to capitalization of assets in advance in the Thiruvottiyur R&D Unit by holding as under: 12.7 Issue No.4: Disallowance due to capitalisation of assets in advance in the Thiruvottiyur R&D unit: Contention of AO/DRP: The AO has examined, a sample

CAVINKARE PRIVATE LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, appeal of the assessee is allowed

Bench: Shri Mahavir Singh, Vice- & Shri Manoj Kumar Aggarwalआयकरअपीलसं./I.T.A.No.1603/Chny/2016 ("नधा"रणवष" / Assessment Year: 2011-12) M/S. Cavinkare Private Ltd. Vs The Deputy Commissioner Of 12, Cavin Ville, Income Tax, Cenotaph Road, Teynampet Company Circle-I(3) Chennai-600 018. Chennai-600 034. Pan:Aaacb 3754B (अपीलाथ"/Appellant) (""यथ"/Respondent)

house scientific research and he stated that the assessee is not engaged in manufacture of any of the items specified in Schedule-Xl of the IT Act. In accordance with the provisions of section 35(2AB) of the Act, a company engaged in manufacturing or production of any article or thing specified in the list contained in the Eleventh Schedule

RAMAKRISHNAN PRABHU JYOTHI,,COIMBATORE vs. ACOT, NCC-5, , COIMBATORE

In the result the appeal is dismissed

10 -:\nITA No.690/Chny/2020\nJeypore Sugar Mills Ltd fraudulently sold the lend and that there was no\nsale deed executed in favour of assesse has been held wrongly against\nthe assesse by CIT Appeals and AO which is baseless to conclude that\nthe assesse did not purchase the residential property when assesse has\npaid the entire purchase consideration and the assesse

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

In the result, the appeals filed by the assessees in ITA Nos

10 real estate projects involving sale of both layouts and constructed flats. However, you have not maintained project wise Balance sheet and Profit & loss account.\n\n3.There is no clarity as to how the closing stock is valued.\n\n4. Advances received from customers are not grouped under “Liabilities” as such but grouped deceptively under Current Assets and Sundry Debtors

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

10 real estate projects involving sale of both layouts and constructed flats. However, you have not maintained project wise Balance sheet and Profit & loss account.\n3.There is no clarity as to how the closing stock is valued.\n4. Advances received from customers are not grouped under “Liabilities” as such but grouped deceptively under Current Assets and Sundry Debtors.\n5. There

SENTHIL KUMAR (HUF),TUTICORIN CHENNAI vs. ITO, WARD 4, , TUTICORIN CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 653/Chny/2023 िनधा"रण वष" / Assessment Year: 2015-16 Senthil Kumar (Huf) Ito, 34B/4, Briyant Nagar, V. Ward-4, 4Th Street Middle, Tuticorin. Bryant Nagar, Tuticorin – 628 008 . [Pan: Abahs-1591-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. N. Arjun Raj, Ca ""यथ" क" ओर से/Respondent By : Shri. D. Hema Bhupal, Jcit सुनवाई क" तारीख/Date Of Hearing : 03.08.2023 घोषणा क" तारीख/Date Of Pronouncement : 11.08.2023

section 54F of the Act, in order to get deduction towards capital gain, the assessee needs to invest sale consideration received from transfer of property for purchase/construction of new house property. In case the assessee has invested part of sale consideration, then proportionate deduction is allowed. In the present case, the Assessing Officer after considering relevant facts has rightly recomputed

M/S. CHENNAI BUSINESS TOWER PVT. LTD.,KANCHIPURAM vs. PCIT-4, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकर अपील सं./Ita Nos.: 1570/Chny/2025, धनिाारण वर्ा / Assessment Years: 2010-11 M/S. Chennai Business Tower Pcit-4, Private Limited (Formerly Known Vs Chennai. As Rmz Infinity (Chennai) Pvt. . Ltd), 110, Mount Poonamallee Road, Porur, Porur S.O. Kanchipuram – 600 116. [Pan:Aaacd-2287-R] (अपीलाथी/Appellant) (प्रत्यथी/Respondent) अपीलाथी की ओर से/Appellant By : Shri. B. Ramakrishnan, Fca. प्रत्यथी की ओर से/Respondent By : Shri. R. Raghupathy, Addl. Cit. सुनवाई की तारीख/Date Of Hearing : 06.08.2025 घोर्णा की तारीख/Date Of Pronouncement : 12.09.2025 आदेश /O R D E R Per S. R. Raghunatha, Am:

35,97,940/- and a tax demand of Rs.18,47,940/-. Subsequently, the assessee filed a rectification petition u/s.154 dated 07.03.2022 to rectify the following mistakes in the intimation u/s.143(1) of the Act: Income from House property inadvertently not reduced from “business income” and not disclosed under the head “income from house property” :-5-: ITA. Nos:1570/Chny/2025

ITO, NON-COPORATE WARD-19(6), CHENNAI vs. SHRI.GOMATHINAYAGAM RATHINASABAPATHY, EKKADUTHANGAL CHENNAI

In the result the appeal of the revenue is dismissed

35,55,580/-. The assessee paid capital gains tax on some\nportion, purchased bonds for an amount of Rs.50,00,000/-\nu/s.50EC of the Act and claimed exemption u/s.54F of the Act\nfor Rs.3,10,00,000/- by depositing the said amount in capital\ngain deposit account with Indian Overseas Bank. As per section\n54F, amount which was kept

MRS.JOTHI NARAYANAN ,CHENNAI vs. ACIT , CHENNAI

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

house at Rs.1.20 lakhs and divided among himself and his wife and declared Rs.60,000/- from this property and none of the authorities below have carried out this exercise of computing the correct market value, we feel that on estimate deemed rental income cannot be added u/s.24 of the Act. Hence, we delete the addition and allow this issue

MR. THANUSHKODI NARAYANAN,CHENNAI vs. ADDL. CIT CENTRAL CIRCLE 3(2), CHENNAI

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

Bench: Shri Mahavir Singh & Shri Manjunatha.G

house at Rs.1.20 lakhs and divided among himself and his wife and declared Rs.60,000/- from this property and none of the authorities below have carried out this exercise of computing the correct market value, we feel that on estimate deemed rental income cannot be added u/s.24 of the Act. Hence, we delete the addition and allow this issue

DCIT, CEN CIR 2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

In the result, both the appeals of the Revenue are dismissed and

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Property Developers. The assessee firm is also involved in the business of money lending which is carried out in the name & style of M/s Jayapriya Financiers. The assessee also operates a guest house and theatre by the name of M/s Jayapriya Guest House and M/s Jayapriya Theatre respectively. A search action u/s 132 of the Act was conducted upon

DCIT, CC2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

In the result, both the appeals of the Revenue are dismissed and

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Property Developers. The assessee firm is also involved in the business of money lending which is carried out in the name & style of M/s Jayapriya Financiers. The assessee also operates a guest house and theatre by the name of M/s Jayapriya Guest House and M/s Jayapriya Theatre respectively. A search action u/s 132 of the Act was conducted upon

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

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.

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

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

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.

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

DCIT, CHENNAI vs. ACCEL LIMITED, CHENNAI

In the result, all the appeals filed by the Revenue and the CO filed by the assessee are dismissed

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.

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

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

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.

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

DCIT, CHENNAI vs. BSR BUILDERS ENGINEERS CONTRACTORS, CHENNAI

In the result, the appeal of the assessee for AYs 2016-17 & 2017-18

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1311 & 1312/Chny/2025 िनधा"रणवष"/Assessment Years: 2016-17 & 2017-18 V. Bsr Builders Engineers Contractors, The Dcit, No.28, Bsr Janus, Tank Bund Road, Central Circle-2(3), Nungambakkam, Chennai-600 034. Chennai. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.1274 & 1561/Chny/2025 िनधा"रणवष"/Assessment Years: 2017-18 & 2016-17 V. The Dcit / Acit, Bsr Builders Engineers Central Circle-2(3), Contractors, Chennai. No.28, Bsr Janus, Tank Bund Road, Nungambakkam, Chennai-600 034. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Housing Finance Ltd. (IIFL-HFC) but no TDS was deducted thereon under the provisions of section 194A of the ITA Nos.1274, 1311, 1312 & 1561/Chny/2025 CO Nos.39 & 47/Chny/2025 (AYs 2016-17 & 2017-18) BSR Builders Engineers Contractors :: 27 :: Act, due to which the AO disallowed 30% of the expenditure i.e. Rs.11,49,997/- u/s 40(a)(ia) of the Act. Aggrieved

BSR BUILDERS ENGINEERS CONTRACTORS,,CHENNAI vs. DCIT, CENTRAL CIRCLE-2(3), CHENNAI

In the result, the appeal of the assessee for AYs 2016-17 & 2017-18

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1311 & 1312/Chny/2025 िनधा"रणवष"/Assessment Years: 2016-17 & 2017-18 V. Bsr Builders Engineers Contractors, The Dcit, No.28, Bsr Janus, Tank Bund Road, Central Circle-2(3), Nungambakkam, Chennai-600 034. Chennai. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.1274 & 1561/Chny/2025 िनधा"रणवष"/Assessment Years: 2017-18 & 2016-17 V. The Dcit / Acit, Bsr Builders Engineers Central Circle-2(3), Contractors, Chennai. No.28, Bsr Janus, Tank Bund Road, Nungambakkam, Chennai-600 034. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Housing Finance Ltd. (IIFL-HFC) but no TDS was deducted thereon under the provisions of section 194A of the ITA Nos.1274, 1311, 1312 & 1561/Chny/2025 CO Nos.39 & 47/Chny/2025 (AYs 2016-17 & 2017-18) BSR Builders Engineers Contractors :: 27 :: Act, due to which the AO disallowed 30% of the expenditure i.e. Rs.11,49,997/- u/s 40(a)(ia) of the Act. Aggrieved