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11 results for “penalty u/s 271”+ Section 227clear

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Key Topics

Section 271(1)(c)12Section 143(3)8Section 1325Penalty5Section 132(4)4Exemption4Section 32Section 2(34)2Section 71(1)2

DCIT, CHENNAI vs. JAGATHRAKSKAN SRINISHA, CHENNAI

In the result, the appeals filed by the Revenue in I

ITA 1253/CHNY/2025[2017-18]Status: DisposedITAT Chennai18 Nov 2025AY 2017-18

Bench: Shri Aby T Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.: 1253, 1264 & 1271/Chny/2025 निर्धारण वर्ष / Assessment Year: 2017-18 Dcit, Central Circle -2(3), Chennai. (अपीलार्थी/Appellant) Vs. Jagathrakshakan Srinisha, 1St Main Road, Adyar, Besant Nagar, Chennai - 600 020. Tamil Nadu. [Pan: Abfps-1422-E] (प्रत्यर्थी/Respondent) निर्धारिती की ओर से/Assessee By : Shri. B. Ramakrishnan, Fca & Shri. Shrenik Chordia, Ca. राजस्व की ओर से / Revenue By : Shri. C.N. Bipin, C.I.T. सुनवाई की तारीख /Date Of Hearing : 07.11.2025 घोषणा की तारीख/Date Of Pronouncement : 18.11.2025 आदेश /Order Per S.R.Raghunatha, Am: The Present Appeal Is Preferred By The Revenue Against The Order Dated 06.02.2025 Passed By The Commissioner Of Income Tax (Appeals)-19 (Hereinafter Referred To As Ld.Cit(A), Chennai, In Respect Of The Assessment Order Dated 01.03.2019 Passed By The Deputy Commissioner Of Income Tax, Central Circle -2(3) (Hereinafter Referred To As Ao) For The Assessment Year 2017-18 (Hereinafter Referred To As The Impugned Assessment Year) U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The Act). :-2-:

For Appellant: Shri. B. Ramakrishnan, FCA &For Respondent: Shri. C.N. Bipin, C.I.T
Section 131Section 132Section 143(3)Section 154
Condonation of Delay2
Section 270A

227 CTR 313 (SC)[19- 11-2009], the Hon'ble Supreme Court held as under: "The judgment of Sahney Steel & Press Works Ltd.'s case (supra) was based on a detailed examination of the Subsidy Scheme formulated by the Government of Andhra Pradesh. It stated that incentives would not be available unless and until production had commenced. In that case

NAGARJUNA OIL CORPORATION LTD.,CHENNAI vs. ACIT CORPORATE CIRCLE 4(2), CHENNAI

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

ITA 2604/CHNY/2017[2011-12]Status: DisposedITAT Chennai21 Nov 2022AY 2011-12

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: NoneFor Respondent: Shri R. Mohan Reddy, CIT
Section 143(3)Section 271(1)(c)

227 ITR 172)(SC). In the case of Autokast Ltd., it was observed that interest on money borrowed for purchase of Plant & Machinery and placed in Short Term Deposit with bank till payment was made and used in bill discounting was taxable as income from other sources. In the case of Tuticorin Alkali Chemicals & Fertilizers Ltd., the Hon. Supreme Court

DCIT CORPORATE CIRCLE 4(2), CHENNAI vs. NAGARJUNA OIL CORPORATION LTD., CHENNAI

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

ITA 2703/CHNY/2017[2012-13]Status: DisposedITAT Chennai21 Nov 2022AY 2012-13

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: NoneFor Respondent: Shri R. Mohan Reddy, CIT
Section 143(3)Section 271(1)(c)

227 ITR 172)(SC). In the case of Autokast Ltd., it was observed that interest on money borrowed for purchase of Plant & Machinery and placed in Short Term Deposit with bank till payment was made and used in bill discounting was taxable as income from other sources. In the case of Tuticorin Alkali Chemicals & Fertilizers Ltd., the Hon. Supreme Court

NAGARJUNA OIL CORPORATION LTD.,CHENNAI vs. ACIT CORPORATE CIRCLE 4(2), CHENNAI

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

ITA 2605/CHNY/2017[2012-13]Status: DisposedITAT Chennai21 Nov 2022AY 2012-13

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: NoneFor Respondent: Shri R. Mohan Reddy, CIT
Section 143(3)Section 271(1)(c)

227 ITR 172)(SC). In the case of Autokast Ltd., it was observed that interest on money borrowed for purchase of Plant & Machinery and placed in Short Term Deposit with bank till payment was made and used in bill discounting was taxable as income from other sources. In the case of Tuticorin Alkali Chemicals & Fertilizers Ltd., the Hon. Supreme Court

DCIT CORPORATE CIRCLE 4(2), CHENNAI vs. NAGARJUNA OIL CORPORATION LTD., CHENNAI

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

ITA 2704/CHNY/2017[2011-12]Status: DisposedITAT Chennai21 Nov 2022AY 2011-12

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: NoneFor Respondent: Shri R. Mohan Reddy, CIT
Section 143(3)Section 271(1)(c)

227 ITR 172)(SC). In the case of Autokast Ltd., it was observed that interest on money borrowed for purchase of Plant & Machinery and placed in Short Term Deposit with bank till payment was made and used in bill discounting was taxable as income from other sources. In the case of Tuticorin Alkali Chemicals & Fertilizers Ltd., the Hon. Supreme Court

RBL HOTELS PVT LTD(FORMERLY KNOWN YS LEBARA HOTELS PVT LTD,CHENNAI vs. ACIT, CORP CIR-4(1), CHENNAI

The appeal stands allowed

ITA 3429/CHNY/2018[2013-14]Status: DisposedITAT Chennai08 Jun 2022AY 2013-14

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri S. Aravindan & Shri. PawanFor Respondent: Shri Sajit Kumar (JCIT) –Ld. DR
Section 143(3)Section 2(34)Section 3Section 71(1)

u/s 143(3) for AY 2013-14. 2. The Registry has noted delay of 327 days in both the appeals, the condonation of which has been sought by the assessee on the strength of condonation petition as accompanied by affidavit of the authorized signatory of the assessee company. It has been submitted that Lebara group went through restructuring

RBL HOTELS PVT LTD(FORMERLY KNOWN YS LEBARA HOTELS PVT LTD,CHENNAI vs. ACIT, CORP CIR-4(1), CHENNAI

The appeal stands allowed

ITA 3428/CHNY/2018[2012-13]Status: DisposedITAT Chennai08 Jun 2022AY 2012-13

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri S. Aravindan & Shri. PawanFor Respondent: Shri Sajit Kumar (JCIT) –Ld. DR
Section 143(3)Section 2(34)Section 3Section 71(1)

u/s 143(3) for AY 2013-14. 2. The Registry has noted delay of 327 days in both the appeals, the condonation of which has been sought by the assessee on the strength of condonation petition as accompanied by affidavit of the authorized signatory of the assessee company. It has been submitted that Lebara group went through restructuring

DCIT , CENTRAL CIRCLE - 3, COIMBATORE vs. SMT.VANITHA MOHAN, COIMBATRE

In the result, the appeal by the assessee in ITA No

ITA 498/CHNY/2022[2013-14]Status: DisposedITAT Chennai03 Jul 2024AY 2013-14

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./ Ita No.267/Chny/2022 िनधा"रण वष"/Assessment Year: 2013-14 V. Shri D. Vijay Mohan, The Dcit, No.232, Tea Estates, Central Circle-3, Race Course Road, Coimbatore. Coimbatore-641 018. [Pan: Aatpm 1202 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./ Ita No.268/Chny/2022 िनधा"रण वष"/Assessment Year: 2013-14

For Appellant: Shri T. Banusekar, AdvocateFor Respondent: Shri V. Nandakumar, CIT
Section 132Section 132(4)

227 (Rajasthan); and several other decisions of this Tribunal, the Ld. CIT-DR thus contended that such retraction was not admissible. According to him, the AO had given elaborate reasoning as to why the additional income offered by way of loan & interest income from Shri Yousuf could not be adjusted/set-off against the admitted unaccounted investment of Rs.5.42 crores and thus

VANITHA MOHAN,COIMBATORE vs. DCIT CENTRAL CIRCLE-3, COIMBATORE

In the result, the appeal by the assessee in ITA No

ITA 268/CHNY/2022[2013-14]Status: DisposedITAT Chennai03 Jul 2024AY 2013-14

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./ Ita No.267/Chny/2022 िनधा"रण वष"/Assessment Year: 2013-14 V. Shri D. Vijay Mohan, The Dcit, No.232, Tea Estates, Central Circle-3, Race Course Road, Coimbatore. Coimbatore-641 018. [Pan: Aatpm 1202 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./ Ita No.268/Chny/2022 िनधा"रण वष"/Assessment Year: 2013-14

For Appellant: Shri T. Banusekar, AdvocateFor Respondent: Shri V. Nandakumar, CIT
Section 132Section 132(4)

227 (Rajasthan); and several other decisions of this Tribunal, the Ld. CIT-DR thus contended that such retraction was not admissible. According to him, the AO had given elaborate reasoning as to why the additional income offered by way of loan & interest income from Shri Yousuf could not be adjusted/set-off against the admitted unaccounted investment of Rs.5.42 crores and thus

VIJAY MOHAN,COIMBAORE vs. DCIT, CENTRAL CIRCLE-(3)(I/C), COIMBATORE

In the result, the appeal by the assessee in ITA No

ITA 267/CHNY/2022[2013-14]Status: DisposedITAT Chennai03 Jul 2024AY 2013-14

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./ Ita No.267/Chny/2022 िनधा"रण वष"/Assessment Year: 2013-14 V. Shri D. Vijay Mohan, The Dcit, No.232, Tea Estates, Central Circle-3, Race Course Road, Coimbatore. Coimbatore-641 018. [Pan: Aatpm 1202 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./ Ita No.268/Chny/2022 िनधा"रण वष"/Assessment Year: 2013-14

For Appellant: Shri T. Banusekar, AdvocateFor Respondent: Shri V. Nandakumar, CIT
Section 132Section 132(4)

227 (Rajasthan); and several other decisions of this Tribunal, the Ld. CIT-DR thus contended that such retraction was not admissible. According to him, the AO had given elaborate reasoning as to why the additional income offered by way of loan & interest income from Shri Yousuf could not be adjusted/set-off against the admitted unaccounted investment of Rs.5.42 crores and thus

DCIT , CENTRAL CIRCLE - 3, COIMBATORE vs. SHRI D VIJAY MOHAN, COIMBATORE

In the result, the appeal by the assessee in ITA No

ITA 497/CHNY/2022[2013-14]Status: DisposedITAT Chennai03 Jul 2024AY 2013-14

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./ Ita No.267/Chny/2022 िनधा"रण वष"/Assessment Year: 2013-14 V. Shri D. Vijay Mohan, The Dcit, No.232, Tea Estates, Central Circle-3, Race Course Road, Coimbatore. Coimbatore-641 018. [Pan: Aatpm 1202 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./ Ita No.268/Chny/2022 िनधा"रण वष"/Assessment Year: 2013-14

For Appellant: Shri T. Banusekar, AdvocateFor Respondent: Shri V. Nandakumar, CIT
Section 132Section 132(4)

227 (Rajasthan); and several other decisions of this Tribunal, the Ld. CIT-DR thus contended that such retraction was not admissible. According to him, the AO had given elaborate reasoning as to why the additional income offered by way of loan & interest income from Shri Yousuf could not be adjusted/set-off against the admitted unaccounted investment of Rs.5.42 crores and thus