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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

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

Section 32(2) by the Finance Act, 1996 as retrospective in effect so as to preclude the assessee’s claim for adjustment of unaccumulated unabsorbed depreciation allowance brought forward as on 01.04.1997 from earlier years against Income from House Property

TAMIL NADU BRICK INDUSTRIES,CHENNAI vs. ITO, CHENNAI

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.744/Chny/2017 "नधा"रण वष"/Assessment Year:2013-14 M/S. Tamilnadu Brick Industries, The Income Tax Officer, No. 47, Mangali Nagar 1St Street, Vs. Non Corporate Circle 8(1), Arumbakkam, Chennai 600 106. Chennai. [Pan: Aafft3643P] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Shri Vijay Kumar Punna, Jr. Standing Counsel सुनवाई क" तार"ख/ Date Of Hearing : 13.02.2018 घोषणा क" तार"ख /Date Of Pronouncement : 11.05.2018 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 27.02.2017 Relevant To The Assessment Year 2013-14. The Assessee Has Raised The Following Grounds: “1. The Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 27.02.2017 In I.T.A.No.07/Cit(A)-9/2016-17 For The Above Mentioned Assessment Year Is Contrary To Law, Facts & In The Circumstances Of The Case.

housing project. In this regard, clauses 6(c) and 9 of MOA elaborate the nature of developmental works to be carried out by the developer simultaneously on execution of JDA. The relevant clauses are reproduced as under: “6(c) The Second Party after satisfying themselves that the title of the Owners is clear and marketable, shall arrange to clear

ACIT, CC- 6(2),, CHENNAI vs. S.N. DAMANI INFRA PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita No.: 3324/Chny/2019 िनधा"रण वष" / Assessment Year: 2014-15 Assistant Commissioner Of Income S.N. Damani Infra Pvt. Ltd., Tax, V. No. 6, Ground Floor, Corporate Circle 6 (2), Rayala Tower, Chennai. 781-785, Anna Salai, Chennai – 600 002. [Pan: Aaocs 0334C] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenivasan, Addl. Cit ""यथ" क" ओर से/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 30.11.2021 आदेश /O R D E R

32,550 Interest on IT : 78,857 Donations : 11,175 Land expenses : 39,386 Loss on SPM Assets : 99,421 : 96,22,949 Less: Depreciation as per IT Act: 1,52,54,651 : 1,52,54,651 Business Income : 11,10,40,046 Assessable income : 11,10,40,046 Returned income : 8,48,87,075 Difference in income

THE MUSIC ACADEMY MADRAS,CHENNAI vs. DDIT, CHENNAI

Accordingly, the same is dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1098/Mds/2015 "नधा"रण वष" / Assessment Year : 2010-11 The Music Academy Madras, The Deputy Director Of Income Tax No.168 (Old No.306), Ttk Road, V. (Exemptions), Royapettah, Chennai - 600 014. Chennai - 600 034 . Pan : Aaatt 0256 B (अपीलाथ"/Appellant) (""यथ"/Respondent)

property 5 I.T.A. No.1098/Mds/15 under trust under Section 11(4) of the Act. In the case before us, according to the Ld. D.R., the assessee is claiming depreciation on the asset which is used for charitable purpose. In fact, the asset was used as a tool for carrying out object of the trust. Therefore, Section 32

DCIT, CHENNAI vs. M/S. TAMIL NADU CRICKET ASSOCIATION, CHENNAI

In the result, both the appeals of the Revenue as well as the cross-objections of the assessee are dismissed

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singhआयकर अपील सं./Ita Nos.2556 & 2557/Mds/2016 & C.O. Nos.158 & 159/Mds/2016 (In Ita Nos.2556 & 2557/Mds/2016) "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13

houses to afford required facilities for the cricketers, officials such as Managers, Coaches, Umpires, Selectors and others who are directly connected with the game, members to acquire by purchase, lease, hire or Otherwise suitable playgrounds, stadia and any other property, movable and immovable, rights or privileges to the same and to provide all amenities thereon for the promotion

DCIT, CHENNAI vs. M/S. TAMIL NADU CRICKET ASSOCIATION, CHENNAI

In the result, both the appeals of the Revenue as well as the cross-objections of the assessee are dismissed

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singhआयकर अपील सं./Ita Nos.2556 & 2557/Mds/2016 & C.O. Nos.158 & 159/Mds/2016 (In Ita Nos.2556 & 2557/Mds/2016) "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13

houses to afford required facilities for the cricketers, officials such as Managers, Coaches, Umpires, Selectors and others who are directly connected with the game, members to acquire by purchase, lease, hire or Otherwise suitable playgrounds, stadia and any other property, movable and immovable, rights or privileges to the same and to provide all amenities thereon for the promotion

MRS. RAJYASHREE SHYAM,,CHENNAI vs. ACIT, CORPORATE CIRCLE - 18 (1),, CHENNAI

In the result, the appeal filed by the assessee stands

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. No.2114/Chny/2019 "नधा"रण वष" /Assessment Year : 2016-2017. Rajyashree Shyam, Vs. The Assistant Commissioner No.A-1405, Of Income Tax, Radiance Mandarin, Corporate Circle 18(1) No.1, Pallavaram Chennai 600 034. Thioraipakkam Raidal Road, Chennai 600 097. [Pan Agcps 0649F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

property was acquired within the time limits specified under Section 54. 2.4 The Commissioner of Income tax (Appeals) ought to have appreciated that the Assessee is not required under the provisions of section 54 to establish the nexus between the amount of sale consideration and the cost of new asset. :- 3 -: 2.5 The Appellant submits that Section

ITO, CHENNAI vs. S. LAKSHMANAN, CHENNAI

In the result, Department appeal is dismissed

Bench: Shri N.R.S. Ganesan & Shri Chandra Poojariआयकर अपील सं./Ita No.2103/Mds/2013 "नधा"रण वष" / Assessment Year : 2010-11 Shri S. Lakshmanan, The Income Tax Officer, 99-46, C-3, Ashok Amoga Business Ward Iv(1), V. Apartments, 1St Main Road, Gandhi Nagar, Chennai - 600 034. Adyar, Chennai - 600 020. Pan : Aaupl 4308 C (अपीलाथ"/Appellant) (""यथ"/Respondent)

Section 54 / 54F of the Act, brought the long term capital gains to tax. The assessee has complied with the conditions and provisions of Capital Gains Scheme by investing the long term capital gain in purchase of land and construction of residential house, aggregating to `1,08,19,213/- and the builder has handed over the possession of the residential