J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

ACIT CORPORATE CIRCLE 1, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

ACIT, MADURAI vs. J.K.FENNER (INDIA) LIMITED, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. ACIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

J.K.FENNER (INDIA) LIMITED,MADURAI vs. ACIT CORPORATE CIRCLE 1, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act‘) 2. Since the issues involved in both these appeals are common, they were heard together. Both the parties also argued them together raising similar arguments on these issues. Accordingly, for the sake of convenience and brevity, we dispose both these appeals by this consolidated order

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

250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act‘) 2. Since the issues involved in both these appeals are common, they were heard together. Both the parties also argued them together raising similar arguments on these issues. Accordingly, for the sake of convenience and brevity, we dispose both these appeals by this consolidated order

MOSBACHER INDIA LLC,CHENNAI vs. ADDL. DIT, CHENNAI

In the result, the appeal is partly allowed in the terms indicated above

property of any kind held by an assessee, whether or not connected with business or profession”, these participation interests are required to be treated as capital assets. Under section 45, “any profits or gains arising from the transfer of a capital asset, effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54 E, 54EA

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. SPL SHELTERS PRIVATE LIMITED, CHENNAI

Bench: Shri George George K & Ms Padmavathy S, Am

2 ITA 1172-1273-1173-1283/Chny/2025 SPL Shelters Pvt. Ltd. and Sriprop Properties Pvt. Ltd. Sadashivanagr, Bangalore-560080 PAN: AAWCS7390C Appellant) : Respondent) I.T.A. No. 1283/Chny/2025 (Assessment Year: 2018-19) DCIT, CC-1(4), Sriprop Properties Pvt. Ltd. No. 31, 2nd Main Road, Shriram No. 46, Investigation Building, Income Tax Office, Nungambakkam, Vs. House, T Chowdaiah Road, Chennai-600034. Sadashivanagr

DEPUTY COMMISSIONER OF INCOME TAX, CHENNAI vs. SHRIPROP PROPERTIES PRIVATE LIMITED, BANGALORE

Bench: Shri George George K & Ms Padmavathy S, Am

2 ITA 1172-1273-1173-1283/Chny/2025 SPL Shelters Pvt. Ltd. and Sriprop Properties Pvt. Ltd. Sadashivanagr, Bangalore-560080 PAN: AAWCS7390C Appellant) : Respondent) I.T.A. No. 1283/Chny/2025 (Assessment Year: 2018-19) DCIT, CC-1(4), Sriprop Properties Pvt. Ltd. No. 31, 2nd Main Road, Shriram No. 46, Investigation Building, Income Tax Office, Nungambakkam, Vs. House, T Chowdaiah Road, Chennai-600034. Sadashivanagr

SPL SHELTERS PVT. LTD.,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

Bench: Shri George George K & Ms Padmavathy S, Am

2 ITA 1172-1273-1173-1283/Chny/2025 SPL Shelters Pvt. Ltd. and Sriprop Properties Pvt. Ltd. Sadashivanagr, Bangalore-560080 PAN: AAWCS7390C Appellant) : Respondent) I.T.A. No. 1283/Chny/2025 (Assessment Year: 2018-19) DCIT, CC-1(4), Sriprop Properties Pvt. Ltd. No. 31, 2nd Main Road, Shriram No. 46, Investigation Building, Income Tax Office, Nungambakkam, Vs. House, T Chowdaiah Road, Chennai-600034. Sadashivanagr