KALYANASUNDARAM SURESH,CHENNAI vs. ACIT NON CORPORATE CIRCLE 2, CHENNAI

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

Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. No.297/Chny/2019 िनधा"रण वष"/Assessment Year: 2013-14 Shri Kalyanasundaram Suresh, Vs. The Assistant Commissioner Of Old No. 12-A, New No. 24, Income Tax, Swarnamangalam East Road, West Non Corporate Circle 2, Cit Nagar, Nandanam, Chennai. Chennai 600 035. [Pan: Aobps4696F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri K. Ravi Kannan, Advocate & Shri Varun Ranganathan, Advocate ""थ" की ओर से/Respondent By : Shri R.V. Aroon Prasad, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 23.07.2024 घोषणा की तारीख /Date Of Pronouncement : 28.08.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 28.12.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals)-2, Chennai For The Assessment Year 2013-14. 2. The Ld. Ar Shri K. Ravi Kannan, Advocate Drew Our Attention To The Additional Grounds Of Appeal Filed On 10.12.2023 & Submits That The Said 3 Grounds Of Appeal May Be Taken Up First The Ld. Dr Shri R.V.

127 of the Act are not applicable and held the entire assessment proceedings are valid under law. Therefore, since, we held that assessment proceedings are valid under law, again remanding the matter to the file of the ld. CIT(A) on the issue of deciding as to whether the assessment proceedings made under revised return of income is valid

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

In the result the appeal is dismissed

property or not. The requirement to be fulfilled for transaction\namount to purchase is payment/investment of consideration for identified\nproperty. The CIT Appeals and AO have incorrectly applied test of\n'transfer' under Section 2(47) of the Act to 'purchase` and the same\ncannot be applied to Section 54F.\n6.\nThe CIT (Appeals) and AO failed to take note

SMT. LINGAMMAL RAMARAJU SHASTRA PRATHISHTA TRUST,RAJAPALAYAM vs. ACIT (EXEMPTIONS), COIMBATORE

In the result, the appeal stands allowed

housed in the same premises as the music school has a total of\n8,939 books on a variety of subjects and is an adjunct to the music school\nactivity. Shri S Muralidhar thus argued that the music school being run by\nthe assessee was in pursuance of its object of 'education' and it did not\nconstitute a 'general public

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

house loan has been repaid in full and there are no further dues payable under the loan. On perusal of the paper book page 339 & 340 shows that the assessee availed loan from ICICI Bank for subjected property under consideration and repaid the same which supports the contention of the assessee that loan was availed for construction of asset

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

house loan has been repaid in full and there are no further dues payable under the loan. On perusal of the paper book page 339 & 340 shows that the assessee availed loan from ICICI Bank for subjected property under consideration and repaid the same which supports the contention of the assessee that loan was availed for construction of asset

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

house loan has been repaid in full and there are no further dues payable under the loan. On perusal of the paper book page 339 & 340 shows that the assessee availed loan from ICICI Bank for subjected property under consideration and repaid the same which supports the contention of the assessee that loan was availed for construction of asset

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

house loan has been repaid in full and there are no further dues payable under the loan. On perusal of the paper book page 339 & 340 shows that the assessee availed loan from ICICI Bank for subjected property under consideration and repaid the same which supports the contention of the assessee that loan was availed for construction of asset

M/S AVM CHARITIES,CHENNAI vs. ITO,EXEMPTION WARD, CHENNAI

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

127 (SC) up to AY 2014-15, and thus, even if cost of ITA Nos.1632 to 1638/Chny/2023 :: 8 :: asset has been claimed as application of income, depreciation should be allowed for computing income from property held under Trust. 7. The Assessing Officer, after considering relevant submissions of the assessee and also taken note of factual findings noticed during the course

M/S AVM CHARITIES ,CHENNAI vs. ITO,EXEMPTIONS WARD-1, CHENNAI

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

127 (SC) up to AY 2014-15, and thus, even if cost of ITA Nos.1632 to 1638/Chny/2023 :: 8 :: asset has been claimed as application of income, depreciation should be allowed for computing income from property held under Trust. 7. The Assessing Officer, after considering relevant submissions of the assessee and also taken note of factual findings noticed during the course

M/S. A V M CHARITIES,CHENNAI vs. ITO, EXEMPTIONS WARD-1, CHENNAI, CHENNAI

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

127 (SC) up to AY 2014-15, and thus, even if cost of ITA Nos.1632 to 1638/Chny/2023 :: 8 :: asset has been claimed as application of income, depreciation should be allowed for computing income from property held under Trust. 7. The Assessing Officer, after considering relevant submissions of the assessee and also taken note of factual findings noticed during the course

M/S AVM CHARITIES,CHENNAI vs. ITO, EXEMPTIONS WARD-1, CHENNAI

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

127 (SC) up to AY 2014-15, and thus, even if cost of ITA Nos.1632 to 1638/Chny/2023 :: 8 :: asset has been claimed as application of income, depreciation should be allowed for computing income from property held under Trust. 7. The Assessing Officer, after considering relevant submissions of the assessee and also taken note of factual findings noticed during the course

AVM CHARITIES,CHENNAI vs. ITO, EXEMPTION WARD, CHENNAI

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

127 (SC) up to AY 2014-15, and thus, even if cost of ITA Nos.1632 to 1638/Chny/2023 :: 8 :: asset has been claimed as application of income, depreciation should be allowed for computing income from property held under Trust. 7. The Assessing Officer, after considering relevant submissions of the assessee and also taken note of factual findings noticed during the course

AVM CHARITIES,CHENNAI vs. ITO, EXEMPTIONS WARD, CHENNAI

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

127 (SC) up to AY 2014-15, and thus, even if cost of ITA Nos.1632 to 1638/Chny/2023 :: 8 :: asset has been claimed as application of income, depreciation should be allowed for computing income from property held under Trust. 7. The Assessing Officer, after considering relevant submissions of the assessee and also taken note of factual findings noticed during the course

M/S AVM CHARITIES,CHENNAI vs. ITO, EXEMPTION WARD, CHENNAI

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

127 (SC) up to AY 2014-15, and thus, even if cost of ITA Nos.1632 to 1638/Chny/2023 :: 8 :: asset has been claimed as application of income, depreciation should be allowed for computing income from property held under Trust. 7. The Assessing Officer, after considering relevant submissions of the assessee and also taken note of factual findings noticed during the course

M/S SHRIRAM PROPERTIES LIMITED,CHENNAI vs. PCIT-CENTRAL1, CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 431/Chny/2022 िनधा"रण वष" / Assessment Year: 2017-18

Properties & Infrastructure Pvt.Ltd. There is no information as to fair value measurement adopted to these combined financial instruments. As per information in Schedule 15, shares and debenture bonds were pledged with banks to avail certain loan or Credit facilities. As these equity instruments are also linked to debt, they ought to have been fair valued under

DEPUTY COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE-10, CHENNAI vs. ARUNCHALAM VEERAIAH, CHENNAI

In the result, the revenue's appeal is dismissed and allow the cross objection\nof the assessee

Bench: Hon'Ble Shri Manu Kumar Giri & Hon'Ble Shri Jagadish\N\Nआयकर अपील सं./ Ita No.2320/Chny/2024\N& C.O.No.78/Chny/2024\N(In Ita No.2320/Chny/2024)\N(निर्धारणवर्ष / Assessment Year: 2011-2012)\N\Nthe Deputy Commissioner Of\Nincome Tax,\Ncorporate Circle 10,\Nchennai\N(Appellant)\Nvs. Arunchalam Veeraiah,\Nno.34, 14B, Beach Home Avenue,\Nbesant Nagar,\Nchennai 600 090.\N[Pan No.Aaipa 9044Q]\N(Respondent/Cross Objector)\N\Nassessee By\N: Shri S. Sridhar, Advocate\Nrevenue By\N: Shri. P.K. Senthil Kumar, Addl. Cit.\N\Nसुनवाई की तारीख/Date Of Hearing\N: 30.01.2025\Nघोषणा की तारीख / Date Of Pronouncement : 14.02.2025\N\Nआदेश / Order\N\Nmanu Kumar Giri ()\N\Nthe Appeal Of The Revenue & Cross Objection By The Assessee Are Arising\Nout Of The Order Dated 21.06.2024 Of The Commissioner Of Income Tax (Appeals),\Nnfac, Delhi (In Short The `Ld. Cit(A)"). The Assessment Order U/S 144 R.W.S 147 Of\Nthe Income Tax Act, 1961 (Hereinafter The 'Act'), Was Passed Vide Order Dated\N19.12.2019.\N\N2.\Nthe Registry Has Noted Delay Of 14 Days In Filing The Appeal By The Revenue.\Nconsidering Reasons Stated In The Affidavit By The Revenue, We Condone The Delay\Nand Admit The Appeal For Adjudication.\N\N3.\Ngrounds Of Appeal Filed By The Revenue Are As Under:\N\N\"1. The Order Of The Cit (A) Is Contrary To The Facts & Circumstances Of The Case\Nand Provisions Of Income Tax Act 1961.\N2. The Id. Cit (A) Erred To Hold That The Notice U/S 148 Was Sent For The Service\Nafter 10 Months Delay & Holding The Assessment Order Dated 19.12.2019 As Time\Nbarred.\N2.

property at Abhiramapuram in Paragraph 5.1 without assigning proper\nreasons and justification.\n7) The NFAC failed to appreciate that in any event, the entire re-computation of\nLTCG on various facets was wrong, incorrect, invalid and not sustainable both on\nfacts and in law.\n8) The Cross Objector/Assessee craves leave to file additional grounds at the time\nof hearing

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, COIMBATORE vs. M/S. RP INFRA PROJECTS LIMITED, ERODE

In the result, all these four appeals filed by the Revenue are dismissed

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunatha

127 days in filing three appeals for AYs 2012-13, 2013-14, 2017-18. Considering the reasons stated in the affidavits by the Revenue, we condone the delay and treat the reasons as ‘sufficient cause’ and admit these appeals for adjudication. 3. The common grounds raised by Revenue for AY 2012-13, 2013-14 & 2017-18 read as under

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, COIMBATORE vs. M/S RPP INFRA PROJECTS LIMITED, ERODE

In the result, all these four appeals filed by the Revenue are dismissed

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunatha

127 days in filing three appeals for AYs 2012-13, 2013-14, 2017-18. Considering the reasons stated in the affidavits by the Revenue, we condone the delay and treat the reasons as ‘sufficient cause’ and admit these appeals for adjudication. 3. The common grounds raised by Revenue for AY 2012-13, 2013-14 & 2017-18 read as under