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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

ACIT, MADURAI vs. J.K.FENNER (INDIA) LIMITED, 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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. ACIT, 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

House Property and Income from other Sources for AY 1998-98. The Hon’ble Court confirmed the stand of Tribunal and held that the intention of the legislature appearing from the amendment made by the Finance (No. 2) Act, 1996 is that the depreciation unabsorbed or otherwise or current would be set off against the income arising from business

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

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-:

Section 56(2)(vii)(c) 92,95,305 (15.1-15.5) 1,50,000 (14.114.6) 1,50,000 (15.1–15.6) 1,50,000 (15.1–15.6) 1,50,000 (13.1 – 13.6) Foreign Travel Expenses Unexplained investment u/s 69 Unexplained money 2,81,25,000 (16.1-16.5) 3,00,000 (12.1 - 12.5) 158-169 63. We find that the additions made

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,

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

83,101 Loan E Plot Loan 19,35,14,433 19,09,930 19,54,24,363 F Repairs Loan 2,54,18,073 78,800 2,54,96,876 Total 403,06,97,480 264,22,322 405,71,19,802 A + B + C + D + E + F The assessee submitted that out of the above bifurcation of loans granted

AVM CHARITIES,CHENNAI vs. ITO EXEMPTIONS WARD 1, CHENNAI

In the result, the appeals of the assessee for all the 13

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. Nos.277, 278, 279, 280, 281, 282, 283, 284, 285 & 286/Chny/2018 "नधा"रण वष" /Assessment Years : 1997-98, 1998-99, 2006-07, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-2014 & 2014-15. M/S. Avm Charities, Vs. The Income Tax Officer, No.101, Dr. Radhakrishnan Salai, Exemptions Ward 1, Mylapore, Chennai. Chennai 600 004. [Pan Aaata 0512F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

house property. For taking this view, in the earlier round, this Tribunal had relied on a judgment of Jurisdictional High Court in the case of CIT vs. Samyuktha Gowda Saraswatha Sabha, (2000) 245 ITR 242, which was also duly considered by their Lordships when the question was ITA Nos.277 to 286/2018 :- 17 -: remitted back to the ld. Commissioner of Income