VIMALARANI BRITTO,CHENNAI vs. ACIT CENTRAL CIRCLE 2(4), CHENNAI

In the result, appeal filed by the assessee is treated as

Bench: Shri V.Durga Rao & Shri G.Manjunathaआयकरअपीलसं./I.T.A.No.2992/Chny/2019 ("नधा"रणवष" / Assessment Year: 2011-12) Smt. Vimalarani Britto Vs Assistant Commissioner Of 13, Kasturba Nagar, Income Tax, 3Rd Main Road, Adyar, Central Circle-2(4) Chennai-600 020. Chennai. Pan: Aadpv 8816C (अपीलाथ"/Appellant) (""यथ"/Respondent)

set off of loss under the provisions of section 71(2), then the Assessing Officer can adjust loss against gross total income and thus, there is no merit in the arguments of the assessee that loss should be first adjusted against income from house property

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

set aside and the order of the Assessing Officer be restored.” 3. The brief facts of the case are that the assessee is in the business of providing warehouse and supply chain solution, filed its return of income for assessment year 2014-15 on 29.09.2014, declaring total income of Rs. 8,48,87,080/-. The :-3-: ITA. No: 3324/Chny/2019 only

GUNAPALAN MALLINATHAN,RANIPET vs. ITO, WARD-2,, VELLORE

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri George George Kand Shri Amitabh Shuklaआयकर अपील सं./Ita No.: 665/Chny/2025 िनधा"रण वष"/Assessment Year:2020-21 Shri Gunapalan Mallinathan, The Income Tax Officer, No.21, Kaviarasu Kannadasan Vs. Ward 2, Street, Vellore. Sriramnagar, Valasaravakkam, Chennai – 600 087. Pan: Adipm 2621A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri T. Vasudevan, Advocate ""यथ" क" ओर से/Respondent By : Ms. Gowthami Manivasagam, Jcit सुनवाई क" तारीख/Date Of Hearing : 11.08.2025 घोषणा क" तारीख/Date Of Pronouncement : 13.08.2025

house property loss. The case was selected for scrutiny assessment. During the assessment proceedings, the assessee had prayed for ignoring the revised returns filed by the assessee since the same had been filed with wrong guidance of tax advisors and to consider the original return filed on 26.06.2020. However, the AO had rejected the assessee’s plea and framed

DCIT, CHENNAI vs. M/S. TURBO ENERGEY LIMITED, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

house R&D facility belong to the eligible 10B units also. Therefore, we do not find any infirmity in the order of the Ld.CIT(A) and the order of the Ld.CIT(A) is confirmed. The appeal of the Revenue is dismissed. 6.0 Ground No.5 in Revenue’s appeal for the AY 2007-08 is addition of Rs.77.99 lakhs relating

DCIT, CHENNAI vs. M/S. TURBO ENERGEY LIMITED, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

house R&D facility belong to the eligible 10B units also. Therefore, we do not find any infirmity in the order of the Ld.CIT(A) and the order of the Ld.CIT(A) is confirmed. The appeal of the Revenue is dismissed. 6.0 Ground No.5 in Revenue’s appeal for the AY 2007-08 is addition of Rs.77.99 lakhs relating

TURBO ENERGY LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

house R&D facility belong to the eligible 10B units also. Therefore, we do not find any infirmity in the order of the Ld.CIT(A) and the order of the Ld.CIT(A) is confirmed. The appeal of the Revenue is dismissed. 6.0 Ground No.5 in Revenue’s appeal for the AY 2007-08 is addition of Rs.77.99 lakhs relating

TURBO ENERGY LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

house R&D facility belong to the eligible 10B units also. Therefore, we do not find any infirmity in the order of the Ld.CIT(A) and the order of the Ld.CIT(A) is confirmed. The appeal of the Revenue is dismissed. 6.0 Ground No.5 in Revenue’s appeal for the AY 2007-08 is addition of Rs.77.99 lakhs relating

TURBO ENERGY LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

house R&D facility belong to the eligible 10B units also. Therefore, we do not find any infirmity in the order of the Ld.CIT(A) and the order of the Ld.CIT(A) is confirmed. The appeal of the Revenue is dismissed. 6.0 Ground No.5 in Revenue’s appeal for the AY 2007-08 is addition of Rs.77.99 lakhs relating

DCIT, CHENNAI vs. TURBO ENERGY LIMITED, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

house R&D facility belong to the eligible 10B units also. Therefore, we do not find any infirmity in the order of the Ld.CIT(A) and the order of the Ld.CIT(A) is confirmed. The appeal of the Revenue is dismissed. 6.0 Ground No.5 in Revenue’s appeal for the AY 2007-08 is addition of Rs.77.99 lakhs relating

DCIT, CHENNAI vs. M/S. TURBO ENERGEY LIMITED, CHENNAI

In the result, the appeals of the assessee are partly allowed and the

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

house R&D facility belong to the eligible 10B units also. Therefore, we do not find any infirmity in the order of the Ld.CIT(A) and the order of the Ld.CIT(A) is confirmed. The appeal of the Revenue is dismissed. 6.0 Ground No.5 in Revenue’s appeal for the AY 2007-08 is addition of Rs.77.99 lakhs relating

TITAN COMPANY LIMITED,HOSUR vs. ASSISTANT COMMISSIONER OF INCOME TAX - LTU 2 (IC), CHENNAI

In the result the appeal raised by the assessee is partly allowed

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1742/Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Titan Company Limited, Assistant Commissioner Of No.3, Sipcot Industrial Complex, Income Tax, Hosur, Krishnagiri, Ltu-2, Tamil Nadu-635126 Chennai [Pan: Aaact5131A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Abhay Kumar, C.A अपीलार्थी की ओर से/ Assessee By : Ms.Komali Krishna, Cit प्रत्यर्थी की ओर से /Revenue By सुनवाई की तारीख/Date Of Hearing : 10.09.2024 घोषणा की तारीख /Date Of Pronouncement : 04.12.2024

losses incurred by the appellant w.r.t Pantnagar Unit in initial AY 2010-11 should be carry forwarded and set-off against the profit earned by the same unit in subsequent year i.e. AY 2011-12 for computing the quantum of deduction under section 80lC of the Act allowable for the Ay 2011-12. Thus, the decision

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

Bench: This Tribunal.

Loss from 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

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-:

Loss from 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

PADMA VASHI SHEWARAMANI,CHENNAI vs. ADIT, CHENNAI

In the result, the impugned is set aside and the appeal of the

Bench: Shri A. Mohan Alankamony & Shri Vikas Awasthyआयकर अपील सं./Ita No.2281/Mds/2014 "नधा"रण वष" /Assessment Year : 2007-08 Smt. Padma Vashi Shewaramani, The Assistant Director Of No.73, Janki Bhawan, V. Income Tax, Sardar Patel Road, International Taxation, Guindy, Chennai - 600 032. Chennai - 600 034. Pan : Aayps 4687 D (अपीलाथ"/Appellant) (""यथ"/Respondent)

set off of short term capital loss against short term capital gains. (3) Rental income from property treated as business income instead of income from house

GANESAN KALEESWARAN,,CHENNAI vs. ITO, NCW - 23 (4),, CHENNAI

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

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

set aside to the file of the AO. 8. The next issue is as regards to the claim of income from house property u/s.24 of the Act. The facts are that the assessee has two house properties i.e., house property No.2/33 Avia Enclave, Balakrishnan Street, Nanmangalam, Chennai – 117 as his own property and another joint property with his sister

M/S MADRAS RACE CLUB,CHENNAI vs. DCIT, CENRAL CIRCLE-1(2), CHENNAI

In the result the appeal of the assessee stands allowed

Bench: Hon’Bleshri Manu Kumar Giriand Hon’Ble Shri S.R. Raghunathaआयकर अपील सं./Ita No.688/Chny/2024 िनधा"रण वष"/Assessment Year:2007-2008 M/S.Madras Race Club, The Deputy Commissioner Of Race Course Road, Vs. Income Tax, Guindy Industrial Estate S.O., Central Circle 1(2) Guindy, Chennai Chennai 600 032. Pan: Aaacm 7640R (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Vijayaraghavan, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nandakumar, Irs, Cit.

properties. For the AY 2007-08 the Appellant had filed the return of income on 29.10.2007 declaring a loss of Rs.56,73,976/-. After the return was processed u/s.143(1), the case was taken up for scrutiny and assessment order U/s.143(3) was completed on 29.12.2009 by making an addition of difference in lodge and club house expenses of Rs.29

GOMATHI,CHENNAI vs. DCIT, NON CORP. WARD 9(1), CHENNAI

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Aby T Varkey & Shri S. R. Raghunathaआयकर अपील सं./Ita No.: 1504/Chny/2025 धनिाारण वर्ा / Assessment Year:2018-19 Gomathi, Dcit, No. 13/51, Kongu Salai, Vs. Non-Corporate Ward – 9(1). Egmore, Chennai. Chennai –600 008. [Pan:Asmpg-0601-K] (अपीलाथी/Appellant) (प्रत्यथी/Respondent) अपीलाथीकीओरसे/Appellant By : Mr. Pradeep, Ca. प्रत्यथीकीओरसे/Respondent By : Mr. R. Raghupathy, Addl. Cit.

loss of :-3-: ITA. No:1504/Chny/2025 Rs.17,37,347/- against house property income. The case was selected for limited scrutiny and statutory notices were issued to the assessee. The assessee submitted that the interest has been paid to various financial institutions for the loans obtained on property is allowable u/s.24 of the Act. With respect to supporting the assessee filed

SHRI RAMASWAMY SHIVARAMAN,,CHENNAI vs. ACIT, CC - 1 (1),, CHENNAI

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकरअपीलसं./Ita No.571/Chny/2020 िनधा"रणवष"/Assessment Year: 2016-17

set off of capital loss and also exemption claimed u/s.54F of the Income Tax Act, 1961 towards purchase of residential house property