DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

Housing Pvt Ltd v. DCIT (supra) wherein it\nwas held that, an action of reassessment which comes to be initiated in\nrelation to a search undertaken on or after 01 April 2021 would have to\nmeet the foundational tests as specified in the first proviso to Section\n149(1) of the Act. The Court held that, a reassessment action would

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

Housing Pvt Ltd v. DCIT (supra) wherein it\nwas held that, an action of reassessment which comes to be initiated in\nrelation to a search undertaken on or after 01 April 2021 would have to\nmeet the foundational tests as specified in the first proviso to Section\n149(1) of the Act. The Court held that, a reassessment action would

SOUTHERN AGRIFURANE INDUSTRIES PVT.. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2), CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

Housing Pvt Ltd v. DCIT (supra) wherein it\nwas held that, an action of reassessment which comes to be initiated in\nrelation to a search undertaken on or after 01 April 2021 would have to\nmeet the foundational tests as specified in the first proviso to Section\n149(1) of the Act. The Court held that, a reassessment action would

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

Housing Pvt Ltd v. DCIT (supra) wherein it\nwas held that, an action of reassessment which comes to be initiated in\nrelation to a search undertaken on or after 01 April 2021 would have to\nmeet the foundational tests as specified in the first proviso to Section\n149(1) of the Act. The Court held that, a reassessment action would

DCIT, CHENNAI vs. M/S. VELS INSTITUTE OF SCIENCE & ADVANCED STUDIES, CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Vice- & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.3547 To 3550/Chny/2018 ("नधा"रणवष" / Assessment Years: 2012-13 To 2015-16) Deputy Commissioner Of Income Tax Vs M/S. Vels Institute Of Science, (Exemptions), Chennai Circle Technology & Advanced Chennai-600 034. Studies, 521/2, Anna Salai, Nandanam, Chennai-600 035. Pan: Aaatv 9804F (अपीलाथ"/Appellant) (""यथ"/Respondent)

E) Interest paid of Rs.2.02 crores on Term Loan availed from ICICI Bank:Disallowance of interest since used for advancing interest free loans to interested parties : To be decided by CIT(A) :A.Y. 2012-13. (F) Corpus Donation received of Rs.4.23 crores : Confirmation from parties : confronted to AO : To be decided by CIT(A) : A.Y. 2012-13 (G) Violation

DCIT, CHENNAI vs. M/S. VELS INSTITUTE OF SCIENCE & ADVANCED STUDIES, CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Vice- & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.3547 To 3550/Chny/2018 ("नधा"रणवष" / Assessment Years: 2012-13 To 2015-16) Deputy Commissioner Of Income Tax Vs M/S. Vels Institute Of Science, (Exemptions), Chennai Circle Technology & Advanced Chennai-600 034. Studies, 521/2, Anna Salai, Nandanam, Chennai-600 035. Pan: Aaatv 9804F (अपीलाथ"/Appellant) (""यथ"/Respondent)

E) Interest paid of Rs.2.02 crores on Term Loan availed from ICICI Bank:Disallowance of interest since used for advancing interest free loans to interested parties : To be decided by CIT(A) :A.Y. 2012-13. (F) Corpus Donation received of Rs.4.23 crores : Confirmation from parties : confronted to AO : To be decided by CIT(A) : A.Y. 2012-13 (G) Violation

DCIT, CHENNAI vs. M/S. VELS INSTITUTE OF SCIENCE & ADVANCED STUDIES, CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Vice- & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.3547 To 3550/Chny/2018 ("नधा"रणवष" / Assessment Years: 2012-13 To 2015-16) Deputy Commissioner Of Income Tax Vs M/S. Vels Institute Of Science, (Exemptions), Chennai Circle Technology & Advanced Chennai-600 034. Studies, 521/2, Anna Salai, Nandanam, Chennai-600 035. Pan: Aaatv 9804F (अपीलाथ"/Appellant) (""यथ"/Respondent)

E) Interest paid of Rs.2.02 crores on Term Loan availed from ICICI Bank:Disallowance of interest since used for advancing interest free loans to interested parties : To be decided by CIT(A) :A.Y. 2012-13. (F) Corpus Donation received of Rs.4.23 crores : Confirmation from parties : confronted to AO : To be decided by CIT(A) : A.Y. 2012-13 (G) Violation

DCIT, CHENNAI vs. M/S. VELS INSTITUTE OF SCIENCE & ADVANCED STUDIES, CHENNAI

In the result, appeals filed by the revenue for assessment

Bench: Shri Mahavir Singh, Vice- & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.3547 To 3550/Chny/2018 ("नधा"रणवष" / Assessment Years: 2012-13 To 2015-16) Deputy Commissioner Of Income Tax Vs M/S. Vels Institute Of Science, (Exemptions), Chennai Circle Technology & Advanced Chennai-600 034. Studies, 521/2, Anna Salai, Nandanam, Chennai-600 035. Pan: Aaatv 9804F (अपीलाथ"/Appellant) (""यथ"/Respondent)

E) Interest paid of Rs.2.02 crores on Term Loan availed from ICICI Bank:Disallowance of interest since used for advancing interest free loans to interested parties : To be decided by CIT(A) :A.Y. 2012-13. (F) Corpus Donation received of Rs.4.23 crores : Confirmation from parties : confronted to AO : To be decided by CIT(A) : A.Y. 2012-13 (G) Violation

DCIT, CENTRAL CIRCLE 1(1), CHENNAI vs. VELLORE INSTITUTE OF TECHNOLOGY, VELLORE

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER These are cross appeals filed by the assessee and Revenue respectively directed against an order dated 19.06.2017 of ld. Commissioner of Income Tax (Appeals)-18, Chennai, for the impugned assessment years. Issues raised in all these appeals mainly involve exemption 2. claimed by the assessee u/s.11 of the Income

DCIT, CENTRAL CIRCLE 1(1), CHENNAI vs. VELLORE INSTITUTE OF TECHNOLOGY, VELLORE

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER These are cross appeals filed by the assessee and Revenue respectively directed against an order dated 19.06.2017 of ld. Commissioner of Income Tax (Appeals)-18, Chennai, for the impugned assessment years. Issues raised in all these appeals mainly involve exemption 2. claimed by the assessee u/s.11 of the Income

VELLORE INSTITUTE OF TECHNOLOGY,VELLORE vs. DCIT, CC IV(1), CHENNAI

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER These are cross appeals filed by the assessee and Revenue respectively directed against an order dated 19.06.2017 of ld. Commissioner of Income Tax (Appeals)-18, Chennai, for the impugned assessment years. Issues raised in all these appeals mainly involve exemption 2. claimed by the assessee u/s.11 of the Income

VELLORE INSTITUTE OF TECHNOLOGY,VELLORE vs. DCIT, CC IV(1), CHENNAI

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER These are cross appeals filed by the assessee and Revenue respectively directed against an order dated 19.06.2017 of ld. Commissioner of Income Tax (Appeals)-18, Chennai, for the impugned assessment years. Issues raised in all these appeals mainly involve exemption 2. claimed by the assessee u/s.11 of the Income

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2 (2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

Housing Pvt Ltd v. DCIT (supra) wherein it\nwas held that, an action of reassessment which comes to be initiated in\nrelation to a search undertaken on or after 01 April 2021 would have to\nmeet the foundational tests as specified in the first proviso to Section\n149(1) of the Act. The Court held that, a reassessment action would

DCIT CORPORATE CIRCLE 5(1), CHENNAI vs. REPCO HOME FINANCE P LTD., CHENNAI

In the result, the appeal of Revenue in ITA no

Bench: Shri George Mathan & Shri Ramit Kochar

e) to Section 36(1)(viii) of the 1961 Act, as a public company formed or registered in India with the main object of carrying on the business of providing long term finance for construction or purchase of houses in India for residential purposes. It can be seen that the deduction u/s 36(1)(viii

M/S. SIVANANDHA MILLS LTD.,COIMBATORE vs. DCIT, COIMBATORE

In the result, ITA No.2106/Mds/13 is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

housing, factory and corporate office thereby virtually preventing all from ingress and egress. In the meantime the secured creditor – Bank of Baroda, which had earlier advanced loan against the security of all the assets, including Stock-in-Trade, had moved petition before DRT (Debts Recovery Tribunal) and also under SARFAESI Act (The 4 - - ITA 1216 & 2106/13 Securitization and Reconstruction

SIVANANDHA MILLS LIMITED,COIMBATORE vs. ACIT, COIMBATORE

In the result, ITA No.2106/Mds/13 is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

housing, factory and corporate office thereby virtually preventing all from ingress and egress. In the meantime the secured creditor – Bank of Baroda, which had earlier advanced loan against the security of all the assets, including Stock-in-Trade, had moved petition before DRT (Debts Recovery Tribunal) and also under SARFAESI Act (The 4 - - ITA 1216 & 2106/13 Securitization and Reconstruction

DCIT, CHENNAI vs. M/S. VELS INSTITUTE OF SCIENCE & ADVANCED STUDIES, CHENNAI

In the result, ITA No.2858/Mds

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER These appeals filed by the Revenue are directed against the common order of the CIT(Appeals) dated 8.7.2016 for the - - 2 ITA 2857 & 2858/16 assessment years 2012-13 and 2013-14. 2. The grounds raised by the Revenue for the assessment year 2012-13 in ITA No.2857/Mds/2016 are as follows

DCIT, CHENNAI vs. M/S. VELS INSTITUTE OF SCIENCE & ADVANCED STUDIES, CHENNAI

In the result, ITA No.2858/Mds

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER These appeals filed by the Revenue are directed against the common order of the CIT(Appeals) dated 8.7.2016 for the - - 2 ITA 2857 & 2858/16 assessment years 2012-13 and 2013-14. 2. The grounds raised by the Revenue for the assessment year 2012-13 in ITA No.2857/Mds/2016 are as follows