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

Property Developers. The assessee firm is also involved in the business of money lending which is carried out in the name & style of M/s Jayapriya Financiers. The assessee also operates a guest house and theatre by the name of M/s Jayapriya Guest House and M/s Jayapriya Theatre respectively. A search action u/s 132 of the Act was conducted upon

THAJUNNISSA BEGUM ,CHENNAI vs. ITO,NON CORPORATE WARD -10(4), CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 196/Chny/2022 िनधा"रण वष" / Assessment Year: 2013-14 Mrs. Thajunnissa Begum, Income Tax Officer, No. 3, Prasanna Vinayagar V. Non Corporate Ward -10(4), Kovil St., Chennai. 235, Poonamalle High Road, Chennai – 600 029. [Pan: Adcpt-2186-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Y. Sridhar, Fca ""यथ" क" ओर से/Respondent By : Shri. D. Hema Bhupal, Jcit सुनवाई की तारीख/Date Of Hearing : 16.02.2023 घोषणा की तारीख/Date Of Pronouncement : 28.02.2023

36,734/-. 8. Being aggrieved by the assessment order, the assessee preferred an appeal before the CIT(A). Before the ld CIT(A), the assessee has justified computation of long term capital gains after availing benefit of exemption u/s. 54 of the Act, along with certain judicial precedence and argued that ‘a’ house referred

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

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 14 of the 1961 Act , so that Revenue gets its legitimate share of correct taxes due from tax- payer for every assessment year. Since, we have held that rental income from the said factory land , building constructed thereon and 2 generators installed thereon shall be chargeable to income-tax under the head ‘Income from House Property’ and hence

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 14 of the 1961 Act , so that Revenue gets its legitimate share of correct taxes due from tax- payer for every assessment year. Since, we have held that rental income from the said factory land , building constructed thereon and 2 generators installed thereon shall be chargeable to income-tax under the head ‘Income from House Property’ and hence

M/S. CEEBROS HOTELS PVT. LTD.,,CHENNAI vs. DCIT, CC - 1 (2),, CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao & Shri G. Manjunatha

property at MRC Nagar should be added to cost of the asset, but cannot be claimed as deduction under section 36(1)(iii) of the Act. The Assessing Officer has discussed the issue at length in light of provisions of section 36(1)(iii) of the Act along with Accounting Standard -16 issued by the ICAI and observed that

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

Bench: This Tribunal.

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

DCIT, CORPORATE CIRCLE - 1 (1),, CHENNAI vs. M/S. AMPA HOUSING DEVELOPMENT PVT. LTD.,, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.2202, 2203, 2204 & 2205/Chny/2019 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Ampa Housing Development (P) Income Tax, Corporate Circle 1(1), Limited, No. 19, Raman Street, Chennai 600 034. T. Nagar, Chennai 600 017. [Pan:Aacca7430R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Dr. I.P. Roopa Jcit ""थ" की ओर से/Respondent By : Shri B. Ramakrishnan, Ca सुनवाई की तारीख/ Date Of Hearing : 06.01.2022 घोषणा की तारीख /Date Of Pronouncement : 23.02.2022 आदेश /O R D E R Per V. Durga Rao: These Four Appeals Filed By The Revenue Are Directed Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai Dated 15.03.2019 Relevant To The Assessment Years 2011-12, 2012-13, 2013-14 & 2014-15. The Only Common Effective Ground Raised By The Revenue For All The Assessment Years Relates To Apportioning The Intermingled Common Expenditure With Relation To Business Income & Let Out Property Income In The Ratio Of 50:50 Without Valid Basis.

house property and business. 7.2 After considering the submissions of the assessee the ld. CIT(A) has observed as under: “I have carefully considered the submissions of the appellant. As pointed out by the appellant that the said expenses have to be incurred for carrying out his business, irrespective of the quantum of revenue/turnover involved. If this proportionate method

DCIT, CORPORATE CIRCLE - 1 (1),, CHENNAI vs. M/S. AMPA HOUSING DEVELOPMENT PVT. LTD.,, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.2202, 2203, 2204 & 2205/Chny/2019 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Ampa Housing Development (P) Income Tax, Corporate Circle 1(1), Limited, No. 19, Raman Street, Chennai 600 034. T. Nagar, Chennai 600 017. [Pan:Aacca7430R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Dr. I.P. Roopa Jcit ""थ" की ओर से/Respondent By : Shri B. Ramakrishnan, Ca सुनवाई की तारीख/ Date Of Hearing : 06.01.2022 घोषणा की तारीख /Date Of Pronouncement : 23.02.2022 आदेश /O R D E R Per V. Durga Rao: These Four Appeals Filed By The Revenue Are Directed Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai Dated 15.03.2019 Relevant To The Assessment Years 2011-12, 2012-13, 2013-14 & 2014-15. The Only Common Effective Ground Raised By The Revenue For All The Assessment Years Relates To Apportioning The Intermingled Common Expenditure With Relation To Business Income & Let Out Property Income In The Ratio Of 50:50 Without Valid Basis.

house property and business. 7.2 After considering the submissions of the assessee the ld. CIT(A) has observed as under: “I have carefully considered the submissions of the appellant. As pointed out by the appellant that the said expenses have to be incurred for carrying out his business, irrespective of the quantum of revenue/turnover involved. If this proportionate method

DCIT, CORPORATE CIRCLE - 1 (1),, CHENNAI vs. M/S. AMPA HOUSING DEVELOPMENT PVT. LTD.,, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.2202, 2203, 2204 & 2205/Chny/2019 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Ampa Housing Development (P) Income Tax, Corporate Circle 1(1), Limited, No. 19, Raman Street, Chennai 600 034. T. Nagar, Chennai 600 017. [Pan:Aacca7430R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Dr. I.P. Roopa Jcit ""थ" की ओर से/Respondent By : Shri B. Ramakrishnan, Ca सुनवाई की तारीख/ Date Of Hearing : 06.01.2022 घोषणा की तारीख /Date Of Pronouncement : 23.02.2022 आदेश /O R D E R Per V. Durga Rao: These Four Appeals Filed By The Revenue Are Directed Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai Dated 15.03.2019 Relevant To The Assessment Years 2011-12, 2012-13, 2013-14 & 2014-15. The Only Common Effective Ground Raised By The Revenue For All The Assessment Years Relates To Apportioning The Intermingled Common Expenditure With Relation To Business Income & Let Out Property Income In The Ratio Of 50:50 Without Valid Basis.

house property and business. 7.2 After considering the submissions of the assessee the ld. CIT(A) has observed as under: “I have carefully considered the submissions of the appellant. As pointed out by the appellant that the said expenses have to be incurred for carrying out his business, irrespective of the quantum of revenue/turnover involved. If this proportionate method

DCIT, CORPORATE CIRCLE - 1 (1),, CHENNAI vs. M/S. AMPA HOUSING DEVELOPMENT PVT. LTD.,, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.2202, 2203, 2204 & 2205/Chny/2019 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Ampa Housing Development (P) Income Tax, Corporate Circle 1(1), Limited, No. 19, Raman Street, Chennai 600 034. T. Nagar, Chennai 600 017. [Pan:Aacca7430R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Dr. I.P. Roopa Jcit ""थ" की ओर से/Respondent By : Shri B. Ramakrishnan, Ca सुनवाई की तारीख/ Date Of Hearing : 06.01.2022 घोषणा की तारीख /Date Of Pronouncement : 23.02.2022 आदेश /O R D E R Per V. Durga Rao: These Four Appeals Filed By The Revenue Are Directed Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai Dated 15.03.2019 Relevant To The Assessment Years 2011-12, 2012-13, 2013-14 & 2014-15. The Only Common Effective Ground Raised By The Revenue For All The Assessment Years Relates To Apportioning The Intermingled Common Expenditure With Relation To Business Income & Let Out Property Income In The Ratio Of 50:50 Without Valid Basis.

house property and business. 7.2 After considering the submissions of the assessee the ld. CIT(A) has observed as under: “I have carefully considered the submissions of the appellant. As pointed out by the appellant that the said expenses have to be incurred for carrying out his business, irrespective of the quantum of revenue/turnover involved. If this proportionate method

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-:

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

SHRI SHANTHILAL MOVJI BHAI,CHENNAI vs. ITO, CORPORATE WARD - 6 (4),, CHENNAI

The appeal stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita Nos.2267 To 2270/Chny/2019 (िनधा"रण वष" / Assessment Years: 2011-12, 2014-15 To 2016-17) Shri Shanthilal Movji Bhai Thakker The Income Tax Officer, बनाम/ 88/A, Dr.Allagappa Road, Corporate Ward-6(4), Vs. Purasawalkam, Chennai-600 084. Chennai. थायीलेखासं./जीआइआरसं./Pan/Gir No. Aacpt-9083-C (अपीलाथ-/Appellant) : (01थ- / Respondent) अपीलाथ-कीओरसे/ Appellant By : Shri D.Anand- Advocate 01थ-कीओरसे/Respondent By : Shri G.Johnson – Ld. Addl. Cit सुनवाईकीतारीख/ : 12/10/2021 Date Of Hearing घोषणाकीतारीख / : 03/11/2021 Date Of Pronouncement

Section 269UA, the assessee would be deemed owner of the property. Accordingly, the lease income earned therefrom was to be assessed as ‘Income from House Property’ which would be eligible for statutory deduction of 30%. Finally, the aforesaid income was assessed as ‘Income from House Property’ and Ld. AO also made interest disallowance u/s 36

SHRI SHANTHILAL MOVJI BHAI,CHENNAI vs. ITO, CORPORATE WARD - 6 (4),, CHENNAI

The appeal stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita Nos.2267 To 2270/Chny/2019 (िनधा"रण वष" / Assessment Years: 2011-12, 2014-15 To 2016-17) Shri Shanthilal Movji Bhai Thakker The Income Tax Officer, बनाम/ 88/A, Dr.Allagappa Road, Corporate Ward-6(4), Vs. Purasawalkam, Chennai-600 084. Chennai. थायीलेखासं./जीआइआरसं./Pan/Gir No. Aacpt-9083-C (अपीलाथ-/Appellant) : (01थ- / Respondent) अपीलाथ-कीओरसे/ Appellant By : Shri D.Anand- Advocate 01थ-कीओरसे/Respondent By : Shri G.Johnson – Ld. Addl. Cit सुनवाईकीतारीख/ : 12/10/2021 Date Of Hearing घोषणाकीतारीख / : 03/11/2021 Date Of Pronouncement

Section 269UA, the assessee would be deemed owner of the property. Accordingly, the lease income earned therefrom was to be assessed as ‘Income from House Property’ which would be eligible for statutory deduction of 30%. Finally, the aforesaid income was assessed as ‘Income from House Property’ and Ld. AO also made interest disallowance u/s 36

SHRI SHANTHILAL MOVJI BHAI,CHENNAI vs. ITO, CORPORATE WARD - 6 (4),, CHENNAI

The appeal stand partly allowed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita Nos.2267 To 2270/Chny/2019 (िनधा"रण वष" / Assessment Years: 2011-12, 2014-15 To 2016-17) Shri Shanthilal Movji Bhai Thakker The Income Tax Officer, बनाम/ 88/A, Dr.Allagappa Road, Corporate Ward-6(4), Vs. Purasawalkam, Chennai-600 084. Chennai. थायीलेखासं./जीआइआरसं./Pan/Gir No. Aacpt-9083-C (अपीलाथ-/Appellant) : (01थ- / Respondent) अपीलाथ-कीओरसे/ Appellant By : Shri D.Anand- Advocate 01थ-कीओरसे/Respondent By : Shri G.Johnson – Ld. Addl. Cit सुनवाईकीतारीख/ : 12/10/2021 Date Of Hearing घोषणाकीतारीख / : 03/11/2021 Date Of Pronouncement

Section 269UA, the assessee would be deemed owner of the property. Accordingly, the lease income earned therefrom was to be assessed as ‘Income from House Property’ which would be eligible for statutory deduction of 30%. Finally, the aforesaid income was assessed as ‘Income from House Property’ and Ld. AO also made interest disallowance u/s 36

MADANRAJ HAMIRMAL SHAH,MUMBAI vs. ITO, ERODE

In the result the appeal of the assessee is partly allowed

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकरअपीलसं./Ita Nos.: 1334 & 1335/Chny/2024 िनधा"रणवष" / Assessment Years: 2011-12 & 2012-13 Madanraj Hamirmal Shah Income Tax Officer, C-405, Royal Samrat, Ward -1(2), S.V. Road,Goregoan West, V. Erode. Mumbai – 400 062. [Pan: Adwpm-2343-M] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ"कीओरसे/Appellant By : Shri. P.C. Jain, Advocate & Shri. Mohit Bangani, Advocate ""थ"कीओरसे/Respondent By : Shri. P. Vijaideepan, Jcit सुनवाई की तारीख/Date Of Hearing : 11.02.2025 घोषणा की तारीख/Date Of Pronouncement : 26.03.2025

36,709/- and hence we sustain the addition and direct the AO to recompute the income and tax accordingly. 10. In respect of addition made on account of Term deposit of Rs.20Lakhs, we note that the assessee has furnished the banker’s certificate stating that the assessee has not made any deposit of Rs.20.00 Lakhs in his name and hence

MADANRAJ HAMIRMAL SHAH,MUMBAI vs. ITO, ERODE

In the result the appeal of the assessee is partly allowed

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकरअपीलसं./Ita Nos.: 1334 & 1335/Chny/2024 िनधा"रणवष" / Assessment Years: 2011-12 & 2012-13 Madanraj Hamirmal Shah Income Tax Officer, C-405, Royal Samrat, Ward -1(2), S.V. Road,Goregoan West, V. Erode. Mumbai – 400 062. [Pan: Adwpm-2343-M] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ"कीओरसे/Appellant By : Shri. P.C. Jain, Advocate & Shri. Mohit Bangani, Advocate ""थ"कीओरसे/Respondent By : Shri. P. Vijaideepan, Jcit सुनवाई की तारीख/Date Of Hearing : 11.02.2025 घोषणा की तारीख/Date Of Pronouncement : 26.03.2025

36,709/- and hence we sustain the addition and direct the AO to recompute the income and tax accordingly. 10. In respect of addition made on account of Term deposit of Rs.20Lakhs, we note that the assessee has furnished the banker’s certificate stating that the assessee has not made any deposit of Rs.20.00 Lakhs in his name and hence

DCIT, TRICHY vs. M/S. THE KARUR VYSYA BANK. LTD., KARUR

Accordingly, the claim of the assessee that it had to be allowed on actual payment basis was, in our opinion, rightly allowed by the CIT(Appeals)

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

property. Assessee was always obliged to pay the amount either to the beneficiary or the original drawer. Assessee held the money only as a trustee in fiduciary capacity. Once the money is held as trustee, the question of limitation will not arise at all. In any case, RBI itself has issued a Notification on 24.05.2014 mandating the banks to transfer