DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit Assessee By : Mr. N. Arjun Raj, Advocate सुनवाईकीतारीख/Date Of Hearing : 08.10.2025 घोषणाकीतारीख / Date Of Pronouncement : 21.11.2025

property, being land or building or both, shares and securities, loans and advances, deposits in bank account. (1A) Notwithstanding anything contained in sub-section (1), where the income chargeable to tax represented in the form of an asset or expenditure in relation to an event or occasion of the value referred to in clause (b) of sub-section (1

SOUTHERN AGRIFURANE INDUSTRIES PVT.. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2), CHENNAI

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

property, being land or building or both, shares and securities, loans and advances, deposits in bank account. (1A) Notwithstanding anything contained in sub-section (1), where the income chargeable to tax represented in the form of an asset or expenditure in relation to an event or occasion of the value referred to in clause (b) of sub-section (1

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 | The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit Assessee By : Mr. N. Arjun Raj, Advocate सुनवाईकीतारीख/Date Of Hearing : 08.10.2025 घोषणाकीतारीख / Date Of Pronouncement : 21.11.2025

property, being land or building or both, shares and securities, loans and advances, deposits in bank account. (1A) Notwithstanding anything contained in sub-section (1), where the income chargeable to tax represented in the form of an asset or expenditure in relation to an event or occasion of the value referred to in clause (b) of sub-section (1

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] V. The Dcit, Central Circle-2(2), Chennai. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

property, being land or building or both, shares and securities, loans and advances, deposits in bank account. (1A) Notwithstanding anything contained in sub-section (1), where the income chargeable to tax represented in the form of an asset or expenditure in relation to an event or occasion of the value referred to in clause (b) of sub-section (1

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2 (2), CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

property, being land or building or both, shares and securities, loans and advances, deposits in bank account. (1A) Notwithstanding anything contained in sub-section (1), where the income chargeable to tax represented in the form of an asset or expenditure in relation to an event or occasion of the value referred to in clause (b) of sub-section (1

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपीलसं./Ita No. 1163, 1256, 1257 & 1259/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 The Dcit, Central Circle-2(2), Chennai. V. M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. (अपीलार्थी/Appellant) [Pan: Aagcs 9705 F] (प्रत्यर्थी/Respondent) आयकर अपीलसं./Ita No.1231, 1232, 1234 & 1236/Chny/2025 निर्धारणवर्ष/Assessment Years: 2013-14 To 2016-17 M/S. Southern Agrifurane Industries Pvt. Ltd., Mgm Centre No.1, 9Th Cross Street, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. [Pan: Aagcs 9705 F] (अपीलार्थी/Appellant) V. The Dcit, Central Circle-2(2), Chennai. (प्रत्यर्थी/Respondent) Department By Assessee By सुनवाईकीतारीख/Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : Mrs. C. Yamuna, Cit & Mr. Bipin, Cit : Mr. N. Arjun Raj, Advocate : 08.10.2025 : 21.11.2025

property, being land or building or both, shares and securities, loans and advances, deposits in bank account. (1A) Notwithstanding anything contained in sub-section (1), where the income chargeable to tax represented in the form of an asset or expenditure in relation to an event or occasion of the value referred to in clause (b) of sub-section (1

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

4) of section 80-IA ; and (iii) an undertaking referred to in sub-section (10) of section 80- IB; (h) "long-term finance" means any loan or advance where the terms under which moneys are loaned or advanced provide for repayment along with interest thereof during a period of not less than five years;” Thus, as can be seen from

RAJESH MIRAJKER,,CHENNAI vs. DCIT, NCC-10(1),, CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.59/Chny/2020 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Rajesh Mirajker, V. The Dy. Commissioner- 4/1, Abu Castle, 4Th Floor, Of Income Tax, 925, Poonamallee High Road, Non-Corporate Circle-10(1), Chennai. Chennai. [Pan: Aahpm 9213 G] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/ Appellant By : Mr.M.Karunakaran, Adv. ""थ" की ओर से /Respondent By : Mr.G.Johnson, Addl.Cit सुनवाई की तारीख/Date Of Hearing : 11.04.2022 घोषणा की तारीख /Date Of Pronouncement : 25.05.2022

section 54EC after verifying the proof. All other claims including further (construction on the site of Rs.3,00,00,000/-, construction of compound wall for Rs.80,00,000/- and the payment made to architect are not considered. :: 5 :: 4. The Ld.AR for the assessee submitted that the Ld.CIT(A) erred in denying exemption claimed u/s.54

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

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

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

ASFA TECHNOLOGIES & BPO PVT. LTD.,CHENNAI vs. ITO CORPORATE WARD 1(4), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh, Vice- & Shri G. Manjunatha

house property’. 4. The case was selected for scrutiny and during the course of assessment proceedings, the Assessing Officer noticed that the assessee has adopted gross annual value at Nil for the property, as the same was vacant throughout the year, therefore, after considering relevant submissions of the assessee computed annual value of the property as per provisions of section

JESUDASON BIJI ,CHENNAI vs. OFFICE OF INCOME TAX OFFICER INT. TAXN WARD1(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

houses and the total consideration received during F.Y. 2013-14 is Rs.3,46,12,700/-. And the assessee had deposited Rs.50,00,000/- in 54EC bonds on 31.12.2013 and hence was eligible for deduction u/s.54EC. However, in respect of the claim of deduction u/s.54F, AO noted that the investment was made in acquisition of a vacant land and construction

DEPUTY COMMISSIONER OF INCOME TAX, NON-CORPORATE CIRCLE 7(1), CHENNAI vs. VELLORE SUBRAMANIAN SARAVANAN, CHENNAI

In the result, appeal filed by the Re

Bench: Shri Aby T. Varkey & Shri Jagadish

4. The appellant assessee sold a residential house property at No.137, Sundar Nagar, New Delhi on 15.1.2010 in favour of one Smt.Vanadana Manchanda, for Nagar, New Delhi on 15.1.2010 in favour of one Smt.Vanadana Manchanda, for Nagar, New Delhi on 15.1.2010 in favour of one Smt.Vanadana Manchanda, for a total consideration of Rs.12,50,00,000/ consideration of Rs.12

KATHIRAVAN SRINIVASAN ,PERAMBALUR vs. DCIT ,CIRCLE-1, TIRUCHIRAPALLI

In the result, the appeal filed by the assessee in ITA No

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकरअपील सं./Ita Nos.: 170 & 171/Chny/2022 िनधा"रण वष" / Assessment Year: 2010-11 & आयकरअपील सं./Ita No.: 172/Chny/2022 िनधा"रण वष" / Assessment Year: 2011-12 Shri Kathiravan Srinivasan, Vs The Dcit, No.274C, Thuraiyur Road, Circle-1, 2Nd Perambalur – 621 212. Main Building, Floor, New No.44, Old No.4, Williams Road, Cantonment, Pan: Ajspk 6687Q Trichirapalli-620 001. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri Darzakhum Songate, Cit सुनवाई क" तार"ख/Date Of Hearing : 18.10.2022 घोषणा क" तार"ख/Date Of Pronouncement : 23.12.2022 आदेश /O R D E R Per Mahavir Singh, Vp: These Three Appeals By The Assessee Are Arising Out Of Two Different Orders Of The Commissioner Of Income Tax (Appeals)-19, Chennai In Ita Nos.581 & 582/Chny/19-20 Dated 03.03.2022. The Assessments In Ita Nos.170 & 172/Chny/2022 Were Framed By The Jcit, Range 1, Trichy For The Assessment Years 2010-11 & 2011-12 U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) Vide Orders Dated 31.03.2013 & 31.03.2014 Respectively. The Third Appeal In Ita No.171/Chny/2022 Is Against The Assessment Order Framed In Consequence To Revision Order Passed By Pcit U/S.263 Of The Act & Consequent Order Of The Ao For The Assessment Year 2010-11 U/S.143(3) R.W.S. 263 Of The Act Dated 12.03.2015 Passed By The Dcit, Circle-1, Trichy.

house at Trichy viii. Interest income and income from other sources (Brokerage / Commission) The AO noted the fact that the assessee has maintained detailed books of accounts for these lines of his business activities. The AO for assessment year 2010-11 noted that there is sudden increase in cash deposit on various dates during financial year 2009-10 relevant

KATHIRAVAN SRINIVASAN ,PERAMBALUR vs. DCIT,CIRCLE-1, TIRUCHIRAPALLI

In the result, the appeal filed by the assessee in ITA No

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकरअपील सं./Ita Nos.: 170 & 171/Chny/2022 िनधा"रण वष" / Assessment Year: 2010-11 & आयकरअपील सं./Ita No.: 172/Chny/2022 िनधा"रण वष" / Assessment Year: 2011-12 Shri Kathiravan Srinivasan, Vs The Dcit, No.274C, Thuraiyur Road, Circle-1, 2Nd Perambalur – 621 212. Main Building, Floor, New No.44, Old No.4, Williams Road, Cantonment, Pan: Ajspk 6687Q Trichirapalli-620 001. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri Darzakhum Songate, Cit सुनवाई क" तार"ख/Date Of Hearing : 18.10.2022 घोषणा क" तार"ख/Date Of Pronouncement : 23.12.2022 आदेश /O R D E R Per Mahavir Singh, Vp: These Three Appeals By The Assessee Are Arising Out Of Two Different Orders Of The Commissioner Of Income Tax (Appeals)-19, Chennai In Ita Nos.581 & 582/Chny/19-20 Dated 03.03.2022. The Assessments In Ita Nos.170 & 172/Chny/2022 Were Framed By The Jcit, Range 1, Trichy For The Assessment Years 2010-11 & 2011-12 U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) Vide Orders Dated 31.03.2013 & 31.03.2014 Respectively. The Third Appeal In Ita No.171/Chny/2022 Is Against The Assessment Order Framed In Consequence To Revision Order Passed By Pcit U/S.263 Of The Act & Consequent Order Of The Ao For The Assessment Year 2010-11 U/S.143(3) R.W.S. 263 Of The Act Dated 12.03.2015 Passed By The Dcit, Circle-1, Trichy.

house at Trichy viii. Interest income and income from other sources (Brokerage / Commission) The AO noted the fact that the assessee has maintained detailed books of accounts for these lines of his business activities. The AO for assessment year 2010-11 noted that there is sudden increase in cash deposit on various dates during financial year 2009-10 relevant

KATHIRAVAN SRINIVASAN ,PERAMBALUR vs. DCIT,CIRCLE -1, TIRUCHIRAPALLI

In the result, the appeal filed by the assessee in ITA No

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकरअपील सं./Ita Nos.: 170 & 171/Chny/2022 िनधा"रण वष" / Assessment Year: 2010-11 & आयकरअपील सं./Ita No.: 172/Chny/2022 िनधा"रण वष" / Assessment Year: 2011-12 Shri Kathiravan Srinivasan, Vs The Dcit, No.274C, Thuraiyur Road, Circle-1, 2Nd Perambalur – 621 212. Main Building, Floor, New No.44, Old No.4, Williams Road, Cantonment, Pan: Ajspk 6687Q Trichirapalli-620 001. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri Darzakhum Songate, Cit सुनवाई क" तार"ख/Date Of Hearing : 18.10.2022 घोषणा क" तार"ख/Date Of Pronouncement : 23.12.2022 आदेश /O R D E R Per Mahavir Singh, Vp: These Three Appeals By The Assessee Are Arising Out Of Two Different Orders Of The Commissioner Of Income Tax (Appeals)-19, Chennai In Ita Nos.581 & 582/Chny/19-20 Dated 03.03.2022. The Assessments In Ita Nos.170 & 172/Chny/2022 Were Framed By The Jcit, Range 1, Trichy For The Assessment Years 2010-11 & 2011-12 U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) Vide Orders Dated 31.03.2013 & 31.03.2014 Respectively. The Third Appeal In Ita No.171/Chny/2022 Is Against The Assessment Order Framed In Consequence To Revision Order Passed By Pcit U/S.263 Of The Act & Consequent Order Of The Ao For The Assessment Year 2010-11 U/S.143(3) R.W.S. 263 Of The Act Dated 12.03.2015 Passed By The Dcit, Circle-1, Trichy.

house at Trichy viii. Interest income and income from other sources (Brokerage / Commission) The AO noted the fact that the assessee has maintained detailed books of accounts for these lines of his business activities. The AO for assessment year 2010-11 noted that there is sudden increase in cash deposit on various dates during financial year 2009-10 relevant

ACIT, CHENNAI vs. B.DHANASEKARAN, CHENNAI

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddy

property and thereafter it shall be the responsibility of the assessee to develop the said area into more useful infrastructure facility. In the I.T.A.Nos.620/Mds/13 :- 14 -: and 360/Mds/2015 process, every act required (whether mentioned in the agreement or not) in converting the area into more useful one shall be that of the assessee. The assessee has to undertake the responsibility

ACIT, CHENNAI vs. B.DHANASEKARAN, CHENNAI

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddy

property and thereafter it shall be the responsibility of the assessee to develop the said area into more useful infrastructure facility. In the I.T.A.Nos.620/Mds/13 :- 14 -: and 360/Mds/2015 process, every act required (whether mentioned in the agreement or not) in converting the area into more useful one shall be that of the assessee. The assessee has to undertake the responsibility