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

Section 147 of the Act, even within four year, merely on the basis of change of opinion. 4. The learned CIT(A) erred in law in confirming the income derived by the appellant from letting out its building as Income from Other Sources as against the claim of the appellant under the head income from house property

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

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

Bench: This Tribunal.

147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall- (a) issue notice to such person requiring him to furnish within

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-:

147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall- (a) issue notice to such person requiring him to furnish within

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

147 squarely applied, and the impugned notices were barred by limitation mentioned in the proviso. The revenue relied on section 153(3)(ii ) and submitted that there was no bar of limitation in view of the said provision. There was no merit in such ITA Nos.1632 to 1638/Chny/2023 :: 19 :: a plea. Section 153 relates to passing of an order

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

147 squarely applied, and the impugned notices were barred by limitation mentioned in the proviso. The revenue relied on section 153(3)(ii ) and submitted that there was no bar of limitation in view of the said provision. There was no merit in such ITA Nos.1632 to 1638/Chny/2023 :: 19 :: a plea. Section 153 relates to passing of an order

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

147 squarely applied, and the impugned notices were barred by limitation mentioned in the proviso. The revenue relied on section 153(3)(ii ) and submitted that there was no bar of limitation in view of the said provision. There was no merit in such ITA Nos.1632 to 1638/Chny/2023 :: 19 :: a plea. Section 153 relates to passing of an order

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

147 squarely applied, and the impugned notices were barred by limitation mentioned in the proviso. The revenue relied on section 153(3)(ii ) and submitted that there was no bar of limitation in view of the said provision. There was no merit in such ITA Nos.1632 to 1638/Chny/2023 :: 19 :: a plea. Section 153 relates to passing of an order

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

147 squarely applied, and the impugned notices were barred by limitation mentioned in the proviso. The revenue relied on section 153(3)(ii ) and submitted that there was no bar of limitation in view of the said provision. There was no merit in such ITA Nos.1632 to 1638/Chny/2023 :: 19 :: a plea. Section 153 relates to passing of an order

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

147 squarely applied, and the impugned notices were barred by limitation mentioned in the proviso. The revenue relied on section 153(3)(ii ) and submitted that there was no bar of limitation in view of the said provision. There was no merit in such ITA Nos.1632 to 1638/Chny/2023 :: 19 :: a plea. Section 153 relates to passing of an order

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

147 squarely applied, and the impugned notices were barred by limitation mentioned in the proviso. The revenue relied on section 153(3)(ii ) and submitted that there was no bar of limitation in view of the said provision. There was no merit in such ITA Nos.1632 to 1638/Chny/2023 :: 19 :: a plea. Section 153 relates to passing of an order

DCIT, CHENNAI vs. PVP VENTURES LTD., CHENNAI

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

property for being let out can be said to be only a preparatory stage (analogous to the acquisition of buildings, plant and machinery in a manufacturing business), the subsequent activities certainly constitute activities in the course of the carrying on of the assessee's business. It would not be correct, as rightly pointed out by the High Court, to treat

DCIT, CHENNAI vs. PVP VENTURES LTD., CHENNAI

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

property for being let out can be said to be only a preparatory stage (analogous to the acquisition of buildings, plant and machinery in a manufacturing business), the subsequent activities certainly constitute activities in the course of the carrying on of the assessee's business. It would not be correct, as rightly pointed out by the High Court, to treat

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Section 147 of the 1961 Act was erroneous so far as prejudicial to the interest of Revenue, which led to issuance of notice dated 13.10.2009 issued by learned CIT u/s 263 of the 1961 Act. The assessee in response to notice dated 13.10.2019 issued by learned CIT u/s 263 of the 1961 Act submitted in its reply vide letter dated

SHRI K.SRIKANTH,CHENNAI vs. ACIT, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Section 147 of the 1961 Act was erroneous so far as prejudicial to the interest of Revenue, which led to issuance of notice dated 13.10.2009 issued by learned CIT u/s 263 of the 1961 Act. The assessee in response to notice dated 13.10.2019 issued by learned CIT u/s 263 of the 1961 Act submitted in its reply vide letter dated

ACIT,, CHENNAI vs. SRI. K.SRIKANTH,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Section 147 of the 1961 Act was erroneous so far as prejudicial to the interest of Revenue, which led to issuance of notice dated 13.10.2009 issued by learned CIT u/s 263 of the 1961 Act. The assessee in response to notice dated 13.10.2019 issued by learned CIT u/s 263 of the 1961 Act submitted in its reply vide letter dated

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

Section 147 of the 1961 Act was erroneous so far as prejudicial to the interest of Revenue, which led to issuance of notice dated 13.10.2009 issued by learned CIT u/s 263 of the 1961 Act. The assessee in response to notice dated 13.10.2019 issued by learned CIT u/s 263 of the 1961 Act submitted in its reply vide letter dated

ACIT, CHENNAI vs. S & P FOUNDATIONS PVT LTD., CHENNAI

In the result, Cross-objection of the assessee No

Bench: Shri Chandra Poojari & Shri Challa Nagendra Prasadआयकर अपील सं./ I.T.A. No. 1883/Mds/2014 & C.O.No.93/Mds/2014 (In Ita No.1883/Mds/2014) ("नधा"रण वष" / Assessment Year : 2005-2006)

House, 2nd floor, Income Tax, Vs Central Circle –IV(2), No.3, Cenotaph Road, Chennai. Teynampet, Chennai 600 018. [PAN: AAICS 0224K] (अपीलाथ"/Appellant) (""यथ"/Respondent/Cross Objector) अपीलाथ" क" ओर से / Appellant by : Shri. G.T. Venkateswara Rao, CIT ""यथ" क" ओर से / Respondent by : Shri. G. Baskar, Advocate सुनवाई क" तार"ख/Date of hearing : 19.03.2015 घोषणा क" तार"ख /Date