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

short “the Act”) in respect of cost of the land of the land purchased ITA & CO No. 18/Chny/2024 CO No. 18/Chny/2024(AY 2015-16) Vellore Subramanian Saravanan Vellore Subramanian Saravanan :: 4 :: on 01.02.2013 (i.e. more than 2 years on 01.02.2013 (i.e. more than 2 years & 1 month before the sale of 1 month before the sale of long term capital

PALANISAMY RANI,ERODE vs. PCIT-1, COIMBATORE, COIMBATORE

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1490/Chny/2023 िनधा"रणवष" / Assessment Year: 2017-18 Principal Commissioner Of Palanisamy Rani, V. Income Tax, 38, Emm Road-2, Chennimalai Coimbatore. Road, Erode – 638 001. [Pan:Biqpr-2991-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. T. Vasudevan, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 09.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 10.07.2024 आदेश /O R D E R

short term capital gains on the footing that the flat might have been used for business purposes even in the assessment years 1996-97 and 1997-98. On further appeal to the Tribunal, it was held that the flat ceased to be a business asset or depreciable asset on and with effect from 01.04.1995 and its character during the accounting

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

short term capital loss against long term capital gains and further exemption claimed u/s.54F of the Income Tax Act, 1961 towards purchase of residential house property

BHARATHAN ANAND,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

house property measuring 3988 sq.ft. at Door No.9, Plot No.52, Senthil Andavar Street, Dhanalakshmi Colony, Vadapalani, Chennai-26, along with his brother Shri B.Kandaswamy and his sister Smt.Veena Ramakrishnan to M/s.Sri Priya Constructions, Chennai-93, for a consideration of Rs.2,39,28,000/- on 24.10.2012. In this transaction, the assessee received a sum of Rs.74,76,000/- towards his share

V.KALPAGAM,CHENNAI vs. ITO NON CORPORATE WARD 10(2), CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 3034/Chny/2018 िनधा"रण वष" / Assessment Year: 2013-14 Smt. V. Kalpagam, The Income Tax Officer, No.2, Door No. 9, Raja V. Non Corporate Ward 10(2), Sadhan, Gajapathy Road, Chennai. Kilpauk, Chennai – 600 010. [Pan: Ahupk-0879-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. S. Sridhar, Advocate अपीलाथ" क" ओर से/Appellant By ""यथ" क" ओर से/Respondent By : Shri. Ar V Sreenivasan, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 10.07.2023 घोषणा क" तारीख/Date Of Pronouncement : 19.07.2023

short term capital gains and long term capital gains and thus render Justice.” 3. The brief facts of the case are that, the assessee has e- filed her return of income for assessment year 2013-14 on :-4-: ITA. No: 3034/Chny/2018 31.07.2014, admitting total income of Rs.7,08,460/-, which comprises of income from salary, income from house property

ACIT, LTU-2,, CHENNAI vs. ASHOK LEYLAND LIMITED, CHENNAI

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

housing and therefore it should be regarded as building used for business purposes. The AO following the orders passed by his predecessors held that, the depreciation rate allowable on residential buildings as per the Income-tax Rules was 5% and not 10% and that this Tribunal in assessee’s own case for AY 2006-07 had also held that

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)

short term capital gains. (3) Rental income from property treated as business income instead of income from house property. 2. The appeal

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

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

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

term capital gains. The Ld. Counsel for the assessee, further referring to purchase of another residential house property submitted that the assessee had purchased a residential plot for construction of house on 18.05.2012 for a consideration of Rs. 38,75,400/-. The assessee had entered into an agreement with M/s. Chintu Constructions and M/s. Raj Constructions for construction of house

K.R.MURALIDHAR,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the assessee is dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1097/Mds/2015 & S.P. No.338/Mds/2015 (In I.T.A. No.1097/Mds/2015) "नधा"रण वष" / Assessment Year : 2009-10 Shri K.R. Muralidhar, Old No.120, New No.246, The Income Tax Officer, Room No.24 & 25, 1St Floor, V. Non-Corporate Circle – 13, Govindappa Naicken Street, Chennai - 600 034. Chennai - 600 001. Pan : Aagpm 9070 N (Appellant & Petitioner) (""यथ"/Respondent)

term capital gain in view of the investment in Rural Electrification Corporation Limited bonds and investment in residential house property. The assessee also claimed short

DR.E.S.KRISHNAMOORTHY,CHENNAI vs. ITO NON CORPORATE WARD 1(4), CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.2529/Chny/2017 िनधा"रण वष" /Assessment Year: 2012-13 Dr.E.S.Krishnamoorthy, V. The Income Tax Officer, No.3, South Mada Street, Non-Corporate Ward-I(4), Srinagar Colony, Saidapet, Chennai. Chennai-600 015. [Pan: Alwpk 0134 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

house(s). The deduction claimed u/s.54 for the assessee's part of 42.5% has to be allowed after deducting the Indexed cost of acquisition for the assessee's share in the old property transferred. The long term capital gain is reworked as under: The cost of the built up area alone as reported by the developer is calculated as under

MUTHU DANIEL RAJAN,CHENNAI vs. CIT CORPORATE CIRCLE 1, CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

housing loan on OMR property, on Besant Nagar property, and additions made under the head ‘short term capital gains’, towards

DCIT NON CORPORATE CIRCLE 1, CHENNAI vs. MUTHU DANIEL RAJAN, CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

housing loan on OMR property, on Besant Nagar property, and additions made under the head ‘short term capital gains’, towards

DCIT NON CORPORATE CIRCLE 1, CHENNAI vs. MUTHU DANIEL RAJAN, CHENNAI

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

housing loan on OMR property, on Besant Nagar property, and additions made under the head ‘short term capital gains’, towards

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

short term capital gains at ₹.18,02,830/- [₹.35,00,000 – ₹.16,97,170]. 47. The ld. CIT(A) confirmed the views of the Assessing Officer for not bringing any new evidence supporting the claim of the assessee. 25 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 48. Before us, the ld. AR submits that the Assessing Officer denied the claim

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

short term capital gains at ₹.18,02,830/- [₹.35,00,000 – ₹.16,97,170]. 47. The ld. CIT(A) confirmed the views of the Assessing Officer for not bringing any new evidence supporting the claim of the assessee. 25 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 48. Before us, the ld. AR submits that the Assessing Officer denied the claim

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

short term capital gains at ₹.18,02,830/- [₹.35,00,000 – ₹.16,97,170]. 47. The ld. CIT(A) confirmed the views of the Assessing Officer for not bringing any new evidence supporting the claim of the assessee. 25 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 48. Before us, the ld. AR submits that the Assessing Officer denied the claim

SAMARJIT SINGH CHABRA,CHENNAI vs. ITO NON CORPORATE WARD 14(1), CHENNAI

In the result, all the appeals filed by the assessee in ITA No

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. Nos.1623, 1624, 1625 & 1646/Chny/2018 िनधा"रण वष"/Assessment Years: 2007-08, 2009-10, 2010-11 & 2008-09 & W.T.A. Nos. 43 & 44/Chny/2018 Assessment Years: 2007-08, 2008-09 Shri Samarijit Singh Chabra, Vs. The Income Tax Officer/ No. K-10, Sangath Apartments, Wealth Tax Officer, Mgr Nagar, Velachery, Non Corporate Ward – 14(1), Chennai 600 042. Chennai. [Pan: Bfops1703Q] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri N. Arjun Raj, Advocate ""थ" की ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 08.05.2024 घोषणा की तारीख /Date Of Pronouncement : 31.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: These Four Income Tax Appeals Filed By The Assessee Are Directed Against Different Orders All Dated 26.02.2018 Passed By The Ld. Commissioner Of Income Tax (Appeals) 14, Chennai For The Assessment Years 2007-08, 2009-10, 2010-11 & 2008-09. 2. Since, Issues Raised In All The Appeals Are Similar Based On The Same Identical Facts, With The Consent Of The Both The Parties, We Proceed

short term capital gains at ₹.18,02,830/- [₹.35,00,000 – ₹.16,97,170]. 47. The ld. CIT(A) confirmed the views of the Assessing Officer for not bringing any new evidence supporting the claim of the assessee. 25 I.T.A. Nos.1623-1625 & 1646 & WTA 43-44/Chny/18 48. Before us, the ld. AR submits that the Assessing Officer denied the claim

DCIT, CHENNAI vs. M/S. INDO INTERNATIONAL LTD., CHENNAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.58/Mds/2011 "नधा"रण वष" / Assessment Year : 2006-07 The Deputy Commissioner Of M/S Indo International Ltd., No.18, 1St Floor, Sunkurama Street, Income Tax, V. Company Circle – Ii(3), Chennai - 600 001. Chennai - 600 034. Pan : Aaaci 2408 R (अपीलाथ"/Appellant) (""यथ"/Respondent)

term capital gain” and rental income under “income from house property”. However, the Assessing Officer rejected the 6 I.T.A. No.58/Mds/11 classification made by the assessee and treated the capital gain as short

MOSBACHER INDIA LLC,CHENNAI vs. ADDL. DIT, CHENNAI

In the result, the appeal is partly allowed in the terms indicated above

property of any kind held by an assessee, whether or not connected with business or profession”, these participation interests are required to be treated as capital assets. Under section 45, “any profits or gains arising from the transfer of a capital asset, effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54 E, 54EA