UPPU KARUNASESH,CHENNAI vs. JCIT, CHENNAI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.978 & 979/Chny/2015 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

40,000/-. As per the rental agreement, the assessee was allowed to sub-lease the property. Accordingly, the assessee sub-let the property. Therefore, according to the Ld. counsel, the lease rent payable to the original owner, namely, M/s Sandesh & Sankalp Sundicates has to be reduced while computing income from house property under Section

UPPU KARUNASESH,CHENNAI vs. JCIT, CHENNAI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.978 & 979/Chny/2015 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

40,000/-. As per the rental agreement, the assessee was allowed to sub-lease the property. Accordingly, the assessee sub-let the property. Therefore, according to the Ld. counsel, the lease rent payable to the original owner, namely, M/s Sandesh & Sankalp Sundicates has to be reduced while computing income from house property under Section

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.

40% of total constructed area Hence, the Assessing Officer requested the assessee to explain the applicability of section 2(47(v) of the Act as per the JDA entered in the previous year 2012-13 relevant to the assessment year 2013-14. In turn, the AR of the assessee contended before the Assessing Officer that the provisions of section

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

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

40,046 Returned income : 8,48,87,075 Difference in income : 2,61,41,796 “ 4. Being aggrieved by the assessment order, the assessee preferred an appeal before the CIT(A). Before the Ld. CIT(A), the assessee has reiterated its submissions made before the :-7-: ITA. No: 3324/Chny/2019 AO and argued that rental income derived from

S.SAROJA,CHENNAI vs. ACIT, NON CORPORAE CIRCLE-19(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 418/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 S. Saroja, Deputy Commissioner Of Door No. 47, Pandian Street, V. Income Tax, Sankaran Avenue, Velachery, Non Corporate Circle – 19(1), Chennai – 600 042. Chennai. [Pan: Baeps-1299-G] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. B. Sakthivel, Advocate ""यथ" क" ओर से/Respondent By : Shri. D. Hema Bhupal, Jcit सुनवाई क" तारीख/Date Of Hearing : 31.05.2023 घोषणा क" तारीख/Date Of Pronouncement : 31.05.2023

40,000/-. In respect of interest income, the assessee on bonafide belief declared interest income under the head income from business. However, when the AO noticed above mistakes, he has fairly agreed and paid taxes on annual value of the house property and also accepted assessment of interest income under the head other sources. Therefore, it cannot be said that

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

Bench: This Tribunal.

Section 56(2)(vii)(c) 92,95,305 (15.1-15.5) Foreign Travel Expenses Unexplained investment u/s 69 Unexplained money 2,48,407 (11.5) 8,24,774 (13.4) 1,68,000 (12.5) 25,200 (12.6) 3,40,000 (12.7) 1,50,000 (14.1-14.6) 3,96,016 (11.5) 8,25,418 (13.4) 1,68,000 (12.5) 25,200 (12.6) 3,40

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 Rs. (35,27,428/-) as returned Add: Interest on borrowed capital Rs. 8,14,484/- disallowed (as in para 13.4) Add: Addition to deemed rental income Rs. 1,68,000/- (as in para 12.5) Add: Disallowance of deduction u/s 24(a) Rs. 25,200/- (as in para 12.6) Add: Further estimated addition in respect Rs. Of Nanganallur

B.SUNDARARAJAN,CHENNAI vs. DCIT, NON CORPORATE CIRCLE, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and appeal of the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. No. 431/Chny/2018 िनधा"रण वष"/Assessment Year:2008-09 The Assistant Commissioner Of Vs. Shri B. Sundararajan, Income Tax, No. 34, Umapathy Street, Non Corporate Circle 18(1), West Mambalam, Chennai 600 033. Chennai 600 034. [Pan:Aasps3969C] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No. 95/Chny/2018 िनधा"रण वष"/Assessment Year:2008-09 Shri B. Sundararajan, The Deputy Commissioner Of No. 34, Umapathy Street, Vs. Income Tax, West Mambalam, Chennai 600 033. Non Corporate Circle 18(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Department By : Mrs. V.S. Sreelekha, Cit Assessee By Shri N. Arjunraj, Ca For : Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 08.09.2021 घोषणा की तारीख /Date Of Pronouncement : 16.09.2021 आदेश /O R D E R Per Duvvuru Rl Reddy: Both The Cross Appeals Filed By The Revenue As Well As Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai, Dated 31.10.2017 Relevant To The Assessment Year 2008-09. 2

property at bearing New Door No.4, Vasan Street, T. Nagar Chennai from Mr. P. Mahaveer Chand Jain & Mrs. Santosh Kumari for a consideration of ₹. 11,00,00,000/- and after including stamp duty and registration fees, the total cost for purchase of both the houses comes to ₹.18,49,40,160/- and claimed deduction under section

ASSISTANT COMMISSIONER OF INCOME TAX NON CORPORATE CIRCLE 18(1), CHENNAI vs. SHRI. B SUNDARAJAN, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and appeal of the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. No. 431/Chny/2018 िनधा"रण वष"/Assessment Year:2008-09 The Assistant Commissioner Of Vs. Shri B. Sundararajan, Income Tax, No. 34, Umapathy Street, Non Corporate Circle 18(1), West Mambalam, Chennai 600 033. Chennai 600 034. [Pan:Aasps3969C] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No. 95/Chny/2018 िनधा"रण वष"/Assessment Year:2008-09 Shri B. Sundararajan, The Deputy Commissioner Of No. 34, Umapathy Street, Vs. Income Tax, West Mambalam, Chennai 600 033. Non Corporate Circle 18(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Department By : Mrs. V.S. Sreelekha, Cit Assessee By Shri N. Arjunraj, Ca For : Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 08.09.2021 घोषणा की तारीख /Date Of Pronouncement : 16.09.2021 आदेश /O R D E R Per Duvvuru Rl Reddy: Both The Cross Appeals Filed By The Revenue As Well As Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai, Dated 31.10.2017 Relevant To The Assessment Year 2008-09. 2

property at bearing New Door No.4, Vasan Street, T. Nagar Chennai from Mr. P. Mahaveer Chand Jain & Mrs. Santosh Kumari for a consideration of ₹. 11,00,00,000/- and after including stamp duty and registration fees, the total cost for purchase of both the houses comes to ₹.18,49,40,160/- and claimed deduction under section

ITO NON CORP WARD 14 (4), CHENNAI vs. SMT. B VATHSALA, CHENNAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Ramit Kochar & Shri Duvvuru R.L. Reddyआयकर अपील सं./I.T.A. No. 1112/Chny/2018 िनधा"रण वष"/Assessment Year: 2008-09 The Income Tax Officer, Smt. B. Vathsala, Non-Corporate Ward-14(4), Vs. No.34/30, Umapathy Street, Chennai. West Mambalam, Chennai – 600 033. [Pan: Actpb 9534H] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Srinivasa Rao Vana, Jcit ""थ" की ओर से/Respondent By : Shri N. Arjun Raj, C.A For Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 19.11.2019 घोषणा की तारीख /Date Of Pronouncement : 27.12.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-14, Chennai Dated 15.12.2017 Relevant To The Assessment Year 2008-09. The Only Effective Ground In This Appeal Raised By The Revenue Is That The Ld. Cit(A) Has Erred In Directing The Assessing Officer To Allow The Assessee’S Claim Of Deduction Under Section 54F Of The Income Tax Act, 1961 (In Short “The Act”).

property at bearing New Door No.4, Vasan Street, T. Nagar Chennai from Mr. P. Mahaveer Chand Jain & Mrs. Santosh Kumari for a consideration of ₹. 11,00,00,000/- and after including stamp duty and registration fees, the total cost for purchase of both the houses comes to ₹.18,49,40,160/- and claimed deduction under section

P.R.EASWAR KUMAR ,CHENNAI vs. ACIT NON CORPORATE CIRCLE 16 , CHENNAI

In the result the appeal of the assessee is allowed for statistical purposes as indicated herein above

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

40,000 (iii) Further the assessee had repaid the housing loan obtained from LIC to the extent of Rs.1,38,70,790/- on 19.03.2013 and thereafter the loan account was closed on 04.04.2013. (iv) Thus the assessee had utilized the sale proceeds towards the construction of the new residential house property within the due date of filing the return which

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

WALLACE SPORTS AND RESEARCH FOUNDATION,CHENNAI vs. ACIT, CHENNAI

In the result, appeal of the assessee is partly allowed for statistical purpose

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

house will give interest free loan to third party without any quit-pro-quo. Therefore there is an implied inference that the assessee’s expectation is to participate in the gain arising out of the purchase and sale of the immovable property. From the facts of the case it also appears that the job of purchasing the property was vested

C.R.PARTHIBAN,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the Assessee it is dismissed

Bench: Shri Mahavir Singhand Dr. M.L. Meenaआयकर अपील सं./Ita No.:1023/Chny/2017 िनधा"रण वष"/Assessment Year: 2012 - 2013

Section 54 of the Act allows re- investment claim only when a residential house is purchased one year before the date of sale of the original asset. In such circumstances, the principal CIT observed that the allowance of the claim u/s.54 of the Act of an amount of Rs.65,40,000/- in the assessment order is not in order. Thus