HOTEL SARAVANA BHAVAN,CHENNAI vs. ACIT CENTRAL CIRCLE 1(3), CHENNAI

In the result, the appeal of the assessee is partly allowed

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.474/Chny/2019 ("नधा"रण वष" / Assessment Year: 2014-15) Vs The Acit, M/S. Hotel Saravana Bhavan, C/O. Shri.T.N. Seetharaman, Central Circle 1(3), Advocate, Chennai – 34. #384, (Old No.196), Lloyds Road, Chennai – 600 086. Pan: Aabfh 3049M (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T.N. Seetharaman, Advocate ""यथ" क" ओर से/Respondent By : Shri S. Bharath,Cit सुनवाई क" तार"ख/Date Of Hearing : 26.08.2019 घोषणा क" तार"ख /Date Of Pronouncement : 22.11.2019 आदेश / O R D E R

house property before the due date of filing the return. The Hon’ble High Court held that “Sub-Section (4) of section 139

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

properties , fresh sanction plans issued by local municipal authorities etc. to substantiate that the loans were granted/utilised for the purposes of construction of additional floors etc to the borrowers. The matter is remitted back to AO and the assessee is directed to produce all details before the AO. The AO shall in remand proceedings after considering the submissions

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

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

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

KALPANA SUNDAR,CHENNAI vs. ITO, NON CORPORATE WARD-8(1), CHENNAI

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.2153/Mds/2017 "नधा"रण वष"/Assessment Year:2013-14 Smt. Kalpana Sundar, The Income Tax Officer, No. 4/3, Sri Janakas, 2Nd Cross Vs. Non-Corporate Ward 8(1), Street, East Kamakodi Nagar, Chennai. Valasaravakkam, Chennai 600 087. [Pan:Cnvps4092J] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Shri Ar. V. Sreenivasan, Jcit सुनवाई क" तार"ख/ Date Of Hearing : 22.01.2018 घोषणा क" तार"ख /Date Of Pronouncement : 31.01.2018 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 28.07.2017 Relevant To The Assessment Year 2013-14. The Only Effective Ground Raised In The Appeal Of The Assessee Is That The Ld. Cit(A) Erred In Confirming The Disallowance Of The Claim Of Tax Exemption Under Section 54 Of The Income Tax Act, 1961 [“Act” In Short].

property in notified scheme upto the expiry of time limit for filing return under section 139(4) of the Act. Further, the Hon’ble Karnataka High Court in the case of Fathima Bai v. ITO (2009) 32 DTR (Kar) 243 has considered similar issue and held that the assessee, having utilized the entire capital gains by purchasing house

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

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

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, THIRUVANNAMALAI

Housing v. CIT [2013] 357 ITR 698/38\ntaxmann.com 203 held that where after a search was conducted, the\nassessee filed the return of his income and the Department had accepted\nsuch return, then levy of penalty under Section 271(1)(c) was not justified.\nFrom the above cases it would be clear that when an assessee has filed\nrevised returns

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI

Housing v. CIT [2013] 357 ITR 698/38\ntaxmann.com 203 held that where after a search was conducted, the\nassessee filed the return of his income and the Department had accepted\nsuch return, then levy of penalty under Section 271(1)(c) was not justified.\nFrom the above cases it would be clear that when an assessee has filed\nrevised returns

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, CHENNAI

In the result, all the six appeals of the Revenue are\ndismissed

Housing v. CIT [2013] 357 ITR 698/38\ntaxmann.com 203 held that where after a search was conducted, the\nassessee filed the return of his income and the Department had accepted\nsuch return, then levy of penalty under Section 271(1)(c) was not justified.\nFrom the above cases it would be clear that when an assessee has filed\nrevised returns

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI

In the result, all the six appeals of the Revenue are\ndismissed

Housing v. CIT [2013] 357 ITR 698/38\ntaxmann.com 203 held that where after a search was conducted, the\nassessee filed the return of his income and the Department had accepted\nsuch return, then levy of penalty under Section 271(1)(c) was not justified.\nFrom the above cases it would be clear that when an assessee has filed\nrevised returns

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, THIRUVANNAMALAI

In the result, all the six appeals of the Revenue are\ndismissed

Housing v. CIT [2013] 357 ITR 698/38\ntaxmann.com 203 held that where after a search was conducted, the\nassessee filed the return of his income and the Department had accepted\nsuch return, then levy of penalty under Section 271(1)(c) was not justified.\nFrom the above cases it would be clear that when an assessee has filed\nrevised returns

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. ETHIRAJULU VAJRAVEL KUMARAN, TIRUVANNAMALAI,

Housing v. CIT [2013] 357 ITR 698/38\ntaxmann.com 203 held that where after a search was conducted, the\nassessee filed the return of his income and the Department had accepted\nsuch return, then levy of penalty under Section 271(1)(c) was not justified.\nFrom the above cases it would be clear that when an assessee has filed\nrevised returns

N RAMASWAMY,CHENNAI vs. ITO, NON CORP WARD 2(3), CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.925/Chny/2019 "नधा"रण वष" / Assessment Year : 2014-15

property”, other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such new asset as provided in clause (a), or, as the case may be, clause (b), of sub-section (1), shall be deemed to be income chargeable under

ITO, CORPORATE WARD - 2 (2),, CHENNAI vs. SMT. REKHA SHETTY, CHENNAI

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

Bench: Shri Duvvuru Rl Reddy & Shri S.Jayaraman & C.O. No.106/Chny/2019 Assessment Year : 2016-17

property ,sold on 19.10.2015. In her return of income filed for assessment year 2016-17, she claimed deduction, inter alia, at ₹.4,33,00,000/- under section 54, being the amount utilized towards a new house purchased on 26.08.2016. During the assessment proceedings, the A.O. found that the due date for filing the return under Section 139

JAGDISH RAJESH,CHENNAI vs. ITO, NCW-20(3), CHENNAI

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

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunatha

Section 54F of the Act, but if such consideration is used for purchase / construction of new asset on or before due date 4 I.T.A. No.3258/Chny/2018 u/s.139(4) or 139(5) of the Act, then deduction cannot be denied. In this regard, relied upon the decision of Hon’ble Punjab & Haryana High Court in the case of CIT vs. Jagriti Aggarwal

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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