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167 results for “house property”+ Section 41clear

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Delhi1,089Mumbai1,016Bangalore375Jaipur214Hyderabad209Chennai167Chandigarh159Ahmedabad133Indore81Kolkata77Cochin72Pune71Raipur64Rajkot52SC44Nagpur34Lucknow33Surat31Amritsar28Agra22Guwahati22Patna21Visakhapatnam21Cuttack13Jodhpur5Allahabad5Dehradun4Varanasi3Jabalpur2Ranchi1H.L. DATTU S.A. BOBDE1T.S. THAKUR ROHINTON FALI NARIMAN1

Key Topics

Addition to Income89Section 14886Section 14765Section 143(3)55Section 13246Disallowance45Section 4042Section 271D32Section 153A31

ACIT, CHENNAI vs. M/S. BSR BUILDERS ENGINEERS CONTRACTORS , CHENNAI

In the result, the appeal of the assessee for AYs 2016-17 & 2017-18

ITA 1561/CHNY/2025[2016]Status: DisposedITAT Chennai14 Jan 2026

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1311 & 1312/Chny/2025 िनधा"रणवष"/Assessment Years: 2016-17 & 2017-18 V. Bsr Builders Engineers Contractors, The Dcit, No.28, Bsr Janus, Tank Bund Road, Central Circle-2(3), Nungambakkam, Chennai-600 034. Chennai. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.1274 & 1561/Chny/2025 िनधा"रणवष"/Assessment Years: 2017-18 & 2016-17 V. The Dcit / Acit, Bsr Builders Engineers Central Circle-2(3), Contractors, Chennai. No.28, Bsr Janus, Tank Bund Road, Nungambakkam, Chennai-600 034. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.G. Baskar, Advocate &For Respondent: Mr.Nishanth Rao, JCIT

Housing Finance Ltd. (IIFL-HFC) but no TDS was deducted thereon under the provisions of section 194A of the ITA Nos.1274, 1311, 1312 & 1561/Chny/2025 CO Nos.39 & 47/Chny/2025 (AYs 2016-17 & 2017-18) BSR Builders Engineers Contractors :: 27 :: Act, due to which the AO disallowed 30% of the expenditure i.e. Rs.11,49,997/- u/s 40(a)(ia) of the Act. Aggrieved

DCIT, CHENNAI vs. BSR BUILDERS ENGINEERS CONTRACTORS, CHENNAI

Showing 1–20 of 167 · Page 1 of 9

...
Section 529
Deduction29
Reassessment24

In the result, the appeal of the assessee for AYs 2016-17 & 2017-18

ITA 1274/CHNY/2025[2017]Status: DisposedITAT Chennai14 Jan 2026

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1311 & 1312/Chny/2025 िनधा"रणवष"/Assessment Years: 2016-17 & 2017-18 V. Bsr Builders Engineers Contractors, The Dcit, No.28, Bsr Janus, Tank Bund Road, Central Circle-2(3), Nungambakkam, Chennai-600 034. Chennai. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.1274 & 1561/Chny/2025 िनधा"रणवष"/Assessment Years: 2017-18 & 2016-17 V. The Dcit / Acit, Bsr Builders Engineers Central Circle-2(3), Contractors, Chennai. No.28, Bsr Janus, Tank Bund Road, Nungambakkam, Chennai-600 034. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.G. Baskar, Advocate &For Respondent: Mr.Nishanth Rao, JCIT

Housing Finance Ltd. (IIFL-HFC) but no TDS was deducted thereon under the provisions of section 194A of the ITA Nos.1274, 1311, 1312 & 1561/Chny/2025 CO Nos.39 & 47/Chny/2025 (AYs 2016-17 & 2017-18) BSR Builders Engineers Contractors :: 27 :: Act, due to which the AO disallowed 30% of the expenditure i.e. Rs.11,49,997/- u/s 40(a)(ia) of the Act. Aggrieved

BSR BUILDERS ENGINEERS CONTRACTORS,,CHENNAI vs. DCIT, CENTRAL CIRCLE-2(3), CHENNAI

In the result, the appeal of the assessee for AYs 2016-17 & 2017-18

ITA 1312/CHNY/2025[2017-18]Status: DisposedITAT Chennai14 Jan 2026AY 2017-18

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1311 & 1312/Chny/2025 िनधा"रणवष"/Assessment Years: 2016-17 & 2017-18 V. Bsr Builders Engineers Contractors, The Dcit, No.28, Bsr Janus, Tank Bund Road, Central Circle-2(3), Nungambakkam, Chennai-600 034. Chennai. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.1274 & 1561/Chny/2025 िनधा"रणवष"/Assessment Years: 2017-18 & 2016-17 V. The Dcit / Acit, Bsr Builders Engineers Central Circle-2(3), Contractors, Chennai. No.28, Bsr Janus, Tank Bund Road, Nungambakkam, Chennai-600 034. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.G. Baskar, Advocate &For Respondent: Mr.Nishanth Rao, JCIT

Housing Finance Ltd. (IIFL-HFC) but no TDS was deducted thereon under the provisions of section 194A of the ITA Nos.1274, 1311, 1312 & 1561/Chny/2025 CO Nos.39 & 47/Chny/2025 (AYs 2016-17 & 2017-18) BSR Builders Engineers Contractors :: 27 :: Act, due to which the AO disallowed 30% of the expenditure i.e. Rs.11,49,997/- u/s 40(a)(ia) of the Act. Aggrieved

BSR BUILDERS ENGINEERS CONTRACTORS, ,CHENNAI vs. DCIT, CENT. CIRCLE-2(3), CHENNAI

In the result, the appeal of the assessee for AYs 2016-17 & 2017-18

ITA 1311/CHNY/2025[2016-17]Status: DisposedITAT Chennai14 Jan 2026AY 2016-17

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1311 & 1312/Chny/2025 िनधा"रणवष"/Assessment Years: 2016-17 & 2017-18 V. Bsr Builders Engineers Contractors, The Dcit, No.28, Bsr Janus, Tank Bund Road, Central Circle-2(3), Nungambakkam, Chennai-600 034. Chennai. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.1274 & 1561/Chny/2025 िनधा"रणवष"/Assessment Years: 2017-18 & 2016-17 V. The Dcit / Acit, Bsr Builders Engineers Central Circle-2(3), Contractors, Chennai. No.28, Bsr Janus, Tank Bund Road, Nungambakkam, Chennai-600 034. [Pan: Aagfb 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.G. Baskar, Advocate &For Respondent: Mr.Nishanth Rao, JCIT

Housing Finance Ltd. (IIFL-HFC) but no TDS was deducted thereon under the provisions of section 194A of the ITA Nos.1274, 1311, 1312 & 1561/Chny/2025 CO Nos.39 & 47/Chny/2025 (AYs 2016-17 & 2017-18) BSR Builders Engineers Contractors :: 27 :: Act, due to which the AO disallowed 30% of the expenditure i.e. Rs.11,49,997/- u/s 40(a)(ia) of the Act. Aggrieved

DCIT,CENTRAL CIRCLE 1(2), CHENNAI vs. M/S.GIMPEX LIMITED , CHENNAI

Appeals stands dismissed

ITA 176/CHNY/2022[2012-13]Status: DisposedITAT Chennai09 Aug 2023AY 2012-13

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manomohan Das

For Appellant: Shri D. Anand (Advocate)-Ld. ARFor Respondent: Dr. R. Mohan Reddy,(CIT) –Ld. DR
Section 143Section 43(5)Section 43(5)(a)

house property, I hold that it is liable to be taxed as u/s. 56(2) as the list under section 56(2) is only illustrative. All things considered, I hold that the AO was justified in treating the aforesaid amount of Rs.3,57,41

M/S GIMPEX PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-1(2), CHENNAI

Appeals stands dismissed

ITA 77/CHNY/2022[2012-13]Status: DisposedITAT Chennai09 Aug 2023AY 2012-13

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manomohan Das

For Appellant: Shri D. Anand (Advocate)-Ld. ARFor Respondent: Dr. R. Mohan Reddy,(CIT) –Ld. DR
Section 143Section 43(5)Section 43(5)(a)

house property, I hold that it is liable to be taxed as u/s. 56(2) as the list under section 56(2) is only illustrative. All things considered, I hold that the AO was justified in treating the aforesaid amount of Rs.3,57,41

SMT. P. CHITRA,,CHENNAI vs. ITO, NCW - 13 (2),, CHENNAI

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

ITA 749/CHNY/2020[2013-14]Status: DisposedITAT Chennai28 Oct 2022AY 2013-14

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.: 749/Chny/2020 िनधा"रण वष" / Assessment Year: 2013-14

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 143(3)Section 54F

41,286/- and thus, the period of holding is less than 36 months and :-4-: ITA. No: 749/Chny/2020 accordingly, profit derived from sale of land is assessable under the head short term capital gains. Therefore, rejected arguments of the assessee that she had purchased the property by way of allotment from M/s. Baskar & Co., on 28.12.1984 and consequently, the same

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

In the result, the appeals filed by the assessees in ITA Nos

ITA 2575/CHNY/2025[2015-16]Status: DisposedITAT Chennai09 Mar 2026AY 2015-16

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. G. Tarun, AdvocateFor Respondent: Ms. R. Anitha, Addl. CIT
Section 132Section 142Section 142(1)Section 143(2)Section 153A

41. Thus, these provisions can be invoked only in cases where the Income- tax Department has exercised its extra ordinary powers of conducting search and seizure operations after complying with stringent pre-conditions prescribed in Section 132 of the Act. 42. Further, we find that section 153A of the Act itself creates the fine distinction/differentiation amongst specified six assessment years

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

In the result, the appeals filed by the assessees in ITA Nos

ITA 2574/CHNY/2025[2014-15]Status: DisposedITAT Chennai09 Mar 2026AY 2014-15

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. G. Tarun, AdvocateFor Respondent: Ms. R. Anitha, Addl. CIT
Section 132Section 142Section 142(1)Section 143(2)Section 153A

41. Thus, these provisions can be invoked only in cases where the Income- tax Department has exercised its extra ordinary powers of conducting search and seizure operations after complying with stringent pre-conditions prescribed in Section 132 of the Act. 42. Further, we find that section 153A of the Act itself creates the fine distinction/differentiation amongst specified six assessment years

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

In the result, the appeals filed by the assessees in ITA Nos

ITA 2573/CHNY/2025[2013-14]Status: DisposedITAT Chennai09 Mar 2026AY 2013-14

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. G. Tarun, AdvocateFor Respondent: Ms. R. Anitha, Addl. CIT
Section 132Section 142Section 142(1)Section 143(2)Section 153A

41. Thus, these provisions can be invoked only in cases where the Income- tax Department has exercised its extra ordinary powers of conducting search and seizure operations after complying with stringent pre-conditions prescribed in Section 132 of the Act. 42. Further, we find that section 153A of the Act itself creates the fine distinction/differentiation amongst specified six assessment years

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

In the result, the appeals filed by the assessees in ITA Nos

ITA 2576/CHNY/2025[2016-17]Status: DisposedITAT Chennai09 Mar 2026AY 2016-17

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. G. Tarun, AdvocateFor Respondent: Ms. R. Anitha, Addl. CIT
Section 132Section 142Section 142(1)Section 143(2)Section 153A

41. Thus, these provisions can be invoked only in cases where the Income- tax Department has exercised its extra ordinary powers of conducting search and seizure operations after complying with stringent pre-conditions prescribed in Section 132 of the Act. 42. Further, we find that section 153A of the Act itself creates the fine distinction/differentiation amongst specified six assessment years

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

In the result, the appeals filed by the assessees in ITA Nos

ITA 2571/CHNY/2025[2012-13]Status: DisposedITAT Chennai09 Mar 2026AY 2012-13

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. G. Tarun, AdvocateFor Respondent: Ms. R. Anitha, Addl. CIT
Section 132Section 142Section 142(1)Section 143(2)Section 153A

41. Thus, these provisions can be invoked only in cases where the Income- tax Department has exercised its extra ordinary powers of conducting search and seizure operations after complying with stringent pre-conditions prescribed in Section 132 of the Act. 42. Further, we find that section 153A of the Act itself creates the fine distinction/differentiation amongst specified six assessment years

MRS.JOTHI NARAYANAN ,CHENNAI vs. ACIT , CHENNAI

In the result, the appeals filed by the assessees in ITA

ITA 950/CHNY/2022[2012-2013]Status: DisposedITAT Chennai08 Nov 2023AY 2012-2013

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Respondent: Shri N.B. Som, CIT
Section 132Section 139(4)Section 153CSection 153C(1)

house at Rs.1.20 lakhs and divided among himself and his wife and declared Rs.60,000/- from this property and none of the authorities below have carried out this exercise of computing the correct market value, we feel that on estimate deemed rental income cannot be added u/s.24 of the Act. Hence, we delete the addition and allow this issue

MR. THANUSHKODI NARAYANAN,CHENNAI vs. ADDL. CIT CENTRAL CIRCLE 3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA

ITA 519/CHNY/2023[2017-18]Status: DisposedITAT Chennai08 Nov 2023AY 2017-18

Bench: Shri Mahavir Singh & Shri Manjunatha.G

For Respondent: Shri N.B. Som, CIT
Section 132Section 139(4)Section 153CSection 153C(1)

house at Rs.1.20 lakhs and divided among himself and his wife and declared Rs.60,000/- from this property and none of the authorities below have carried out this exercise of computing the correct market value, we feel that on estimate deemed rental income cannot be added u/s.24 of the Act. Hence, we delete the addition and allow this issue

M/S ALPHA REALITY,CHENNAI vs. ACIT NON CORPORATE CIRCLE 3, CHENNAI

The appeal stands partly allowed in terms of our above order

ITA 1706/CHNY/2018[2014-15]Status: DisposedITAT Chennai01 Nov 2023AY 2014-15

Bench: Hon’Ble Shri V. Durga Rao, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1706/Chny/2018 (िनधा"रण वष" / Assessment Year: 2014-15) M/S. Alpha Reality Acit No.1-A, 4Th Floor, Jhava Plaza, Non-Corporate Circle-3, बनाम/ Vs. Nungambakkam High Road, Chennai Nungambakkam, Chennai-600 034. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aajfa-8210-B (अपीलाथ"/Appellant) : (!"थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri N. Arjunraj (Ca)- Ld.Ar !"थ"कीओरसे/Respondent By : Shri P. Sajit Kumar (Jcit)-Ld. Sr. Dr सुनवाईकीतारीख/Date Of Hearing : 18-10-2023 घोषणाकीतारीख /Date Of Pronouncement : 01-11-2023 आदेश / O R D E R

For Appellant: Shri N. Arjunraj (CA)- Ld.ARFor Respondent: Shri P. Sajit Kumar (JCIT)-Ld. Sr. DR
Section 143(3)Section 68

41 of the impugned order without assigning proper reasons and justification. 8. The CIT (Appeals) failed to appreciate that the presumptions/conclusions of reached on the nature of business activity pursued by the Appellant were incorrect, thereby vitiating the related findings. 9. The CIT (Appeals) erred in enhancing the assessment on two counts without assigning proper reasons and justification and ought

PATCHIRAJAN LAKSHMANAN,MADURAI vs. PCIT, MADURAI

In the result, appeal of the assessee is allowed

ITA 597/CHNY/2020[2015-16]Status: DisposedITAT Chennai28 Jun 2024AY 2015-16

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 597/Chny/2020 िनधा"रणवष" / Assessment Year: 2015-16 The Principal Commissioner Of Patchirajan Lakshmanan, V. Income Tax, No. 102F,/16Z/3, Maduari -1, Dhanasekaran Nagar, Madurai – 625 002. Polepettai (West) – 628 002. [Pan:Aazpl-1396-H] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S. Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 01.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 28.06.2024 आदेश /O R D E R

For Appellant: Shri. S. Sridhar, AdvocateFor Respondent: Shri. V. Nandakumar, CIT
Section 143(1)(a)Section 143(3)Section 263Section 54F

Section 263 of the Act and ought to have appreciated that the judicial trend in this regard would vitiate the related findings in the impugned order. 10. The CIT (Appeals) failed to appreciate that there was no proper opportunity given before passing of the impugned order and any order passed in violation of the principles of natural justice would

SHRI D. SAIVENUGOPAL,,CHENNAI vs. DCIT, CORPORATE CIRCLE - 6 (1),, CHENNAI

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

ITA 2417/CHNY/2019[2011-12]Status: DisposedITAT Chennai24 Mar 2023AY 2011-12

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.107/Chny/2021 & 2417/Chny/2019 िनधा"रण वष"/Assessment Year: 2011-12 Shri D. Saivenugopal, Vs. The Deputy Commissioner Of Old No. 5, New No. 11, Sami Chetty Income Tax, Street, Pudupet, Chennai 600 002. Corporate Circle 6(1), Chennai 34. [Pan:Betps6046G] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sundaram, Ca ""थ" की ओर से/Respondent By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 15.03.2023 घोषणा की तारीख /Date Of Pronouncement : 24.03.2023 आदेश /O R D E R Per V. Durga Rao: Both The Appeals Filed By The Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai Dated 27.06.2022 Relevant To The Assessment Year 2011-12 Passed Against Quantum Additions As Well As Rejection Of Rectification Petition Under Section 154 Of The Income Tax Act, 1961 [“Act” In Short].

For Appellant: Shri S. Sundaram, CAFor Respondent: Shri AR V Sreenivasan, Addl. CIT
Section 143(1)Section 143(3)Section 147Section 148Section 154Section 22

house property is only from buildings or land appurtenant thereto and not from land alone as offered by the assessee. Hence, the 30% notational deduction claimed on the rent received from 3 I.T.A. Nos.107/Chny/21 & 2417/Chny/19 land was not in order and same has escaped assessment. Accordingly, the Assessing Officer issued notice under section 148 of the Act dated

D. SAIVENUGOPAL,CHENNAI vs. DCIT CORPORATE CIRCLE 6(1), CHENNAI

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

ITA 107/CHNY/2021[2011-12]Status: DisposedITAT Chennai24 Mar 2023AY 2011-12

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.107/Chny/2021 & 2417/Chny/2019 िनधा"रण वष"/Assessment Year: 2011-12 Shri D. Saivenugopal, Vs. The Deputy Commissioner Of Old No. 5, New No. 11, Sami Chetty Income Tax, Street, Pudupet, Chennai 600 002. Corporate Circle 6(1), Chennai 34. [Pan:Betps6046G] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sundaram, Ca ""थ" की ओर से/Respondent By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 15.03.2023 घोषणा की तारीख /Date Of Pronouncement : 24.03.2023 आदेश /O R D E R Per V. Durga Rao: Both The Appeals Filed By The Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai Dated 27.06.2022 Relevant To The Assessment Year 2011-12 Passed Against Quantum Additions As Well As Rejection Of Rectification Petition Under Section 154 Of The Income Tax Act, 1961 [“Act” In Short].

For Appellant: Shri S. Sundaram, CAFor Respondent: Shri AR V Sreenivasan, Addl. CIT
Section 143(1)Section 143(3)Section 147Section 148Section 154Section 22

house property is only from buildings or land appurtenant thereto and not from land alone as offered by the assessee. Hence, the 30% notational deduction claimed on the rent received from 3 I.T.A. Nos.107/Chny/21 & 2417/Chny/19 land was not in order and same has escaped assessment. Accordingly, the Assessing Officer issued notice under section 148 of the Act dated

CHANDRA BHAVANI SANKAR,CHENNAI vs. ITO, NON CORP WARD 16(2), CHENNAI

In the result, appeal filed by the assessee is allowed

ITA 101/CHNY/2024[2012-13]Status: DisposedITAT Chennai09 Aug 2024AY 2012-13

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.101/Chny/2024 िनधा"रण वष"/Assessment Year: 2012-13 V. Shri Chandra Bhavani Sankar, The Ito, 1/3A, Vinayakar Koil Street, Ncw-16(2), Thalambur, Chennai. Chennai-600 130. [Pan: Aeypb 1764 J] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Sathyanarayanan, AdvFor Respondent: Shri P. Sajit Kumar, JCIT
Section 54(1)Section 54FSection 68

41,274/- on the investment of Rs.70,53,806/- made in the new constructed house. However, according to the AO, the assessee has extended his old house by constructing first floor to the existing ground floor, which construction was started a year back before the date of transfer; and the AO noted that as per the provisions of Sec.54F

MEERA HUSSAIN,CHENNAI vs. PCIT, CHENNAI

The appeal stands dismissed

ITA 501/CHNY/2022[2015-16]Status: DisposedITAT Chennai19 May 2023AY 2015-16

Bench: Hon’Ble Shri V. Durga Rao, Jmand Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./Ita No.501/Chny/2022 (िनधा1रणवष1 / Assessment Year: 2015-16) Meera Hussain Pr. Cit बनाम/ 19, Thambu Chetty Street, Chennai-8. Vs. Mannady,Chennai-600 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aahpm-9324-J (अपीलाथ"/Appellant) : ("#थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri T.T. Durairaj Kandiar(Ca) – Ld.Ar "#थ"कीओरसे/Respondent By : Shri M. Rajan (Cit) – Ld.Dr सुनवाईकीतारीख/Date Of Hearing : 04-05-2023 घोषणाकीतारीख/Date Of Pronouncement : 19-05-2023 आदेश / O R D E R Manoj Kumar Aggarwal () 1. By Way Of This Appeal, The Assessee Assail The Invocation Of Revisionary Jurisdiction U/S 263 By Ld. Pr. Commissioner Of Income Tax, Chennai-8 (Pr. Cit) Vide Impugned Order Dated 25.03.2021 In The Matter An Assessment Framed By Ld. Ao U/S.143(3) Of The Act On 14-11-2017. The Grounds Taken By The Assessee Are As Under:- “On The Facts & Circumstances Of The Case, The Order Of The Hon'Ble Principal Commissioner Of Income Tax, Chennai-8, Passed U/S.263, With Reference No.: Itba/Rev/F/Rev5/2020-21/ 1031753147(1), Dated 25.03.2021, Is Against The Facts Of The Case Weight Of Evidence On Record & Bad In Law For The Following Reasons:-

For Appellant: Shri T.T. Durairaj Kandiar(CA) – Ld.ARFor Respondent: Shri M. Rajan (CIT) – Ld.DR
Section 142(1)Section 143(3)Section 263

House Property at Rs.44,09,287/-) has to be brought to tax under Income from Other Sources. 5. One of the Sundry Creditors M/s. New Horizon Trade Wings (HK) had not confirmed the credits. As per the Ledger Sundry Creditors, the amount payable to the above sundry Creditors was shown as Rs. 75,29,519/- as Opening Balance and there