DCIT, CHENNAI vs. JAGATHRAKSHAKAN SRINISHA, CHENNAI

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

292C\nof IT Act provides for a presumption that (i)that such books of account, other\ndocuments, money, bullion, jewellery or other valuable article or thing\nbelong or belongs to such person & the onus is on the assessee to furnish\nevidence or explanations to rebut the same.\n3. The Ld.CIT(A) failed to appreciate that the onus

M/S. LALITHA JEWELLERY MART LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

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

Bench: Shri Aby T. Varkey & Shrimanoj Kumar Aggarwal

u/s 131 of the Act, in our view, the same cannot be used against the , in our view, the same cannot be used against the , in our view, the same cannot be used against the assessee. As rightly pointed out by ointed out by Ld. AR, in our view, the assessee is R, in our view, the assessee is being

M/S. LALITHA JEWELLERY MART LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

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

Bench: Shri Aby T. Varkey & Shrimanoj Kumar Aggarwal

u/s 131 of the Act, in our view, the same cannot be used against the , in our view, the same cannot be used against the , in our view, the same cannot be used against the assessee. As rightly pointed out by ointed out by Ld. AR, in our view, the assessee is R, in our view, the assessee is being

M/S. LALITHA JEWELLERY MART LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-1(4), CHENNAI

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

Bench: Shri Aby T. Varkey & Shrimanoj Kumar Aggarwal

u/s 131 of the Act, in our view, the same cannot be used against the , in our view, the same cannot be used against the , in our view, the same cannot be used against the assessee. As rightly pointed out by ointed out by Ld. AR, in our view, the assessee is R, in our view, the assessee is being

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. CHITRAVEL VETRIMARAN, CHENNAI

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

penalty u/s 271D/271E of the Income -tax Act, 1961. Further,\nsource of repayment of cash loan along with interest needed verification.\nAccordingly, a common satisfaction note was recorded by the Assessing\nOfficer in this regard that the above seized material pertains to the\nassessee, other than the person referred to in section 153A of the Act in the\ngroup case

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. CHITRAVEL VETRIMARAN, CHENNAI

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

penalty u/s 271D/271E of the Income -tax Act, 1961. Further,\nsource of repayment of cash loan along with interest needed verification.\nAccordingly, a common satisfaction note was recorded by the Assessing\nOfficer in this regard that the above seized material pertains to the\nassessee, other than the person referred to in section 153A of the Act in the\ngroup case

DCIT CENTRAL CIRCLE2(4), CHENNAI vs. SHRI O. PANNEERSELVAM, CHENNAI

In the result, the cross-objections stands dismissed

Bench: Hon’Ble Shri V. Durga Rao, Jmand Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.581/Chny/2023 (िनधा"रण वष" / Assessment Year: 2016-17) & 2. आयकरअपील सं./ Ita No.582/Chny/2023 (िनधा"रण वष" / Assessment Year: 2017-18) Dcit Shri O. Panneerselvam बनाम Central Circle-2(4), No.70, South Agraharam, / Vs. Chennai. Tenkarai, Periakulam-625 601. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Amapp-6689-A (अपीलाथ"/Appellant) : (!"थ" / Respondent) & 3. Cross Objection No.5/Chny/2024 (In Ita No.581/Chny/2023) (िनधा"रण वष" / Assessment Year: 2016-17) & 4. Cross Objection No.6/Chny/2024 (In Ita No.582/Chny/2023) (िनधा"रण वष" / Assessment Year: 2017-18) Shri O. Panneerselvam Dcit बनाम No.70, South Agraharam, Central Circle-2(4), / Vs. Tenkarai, Periakulam-625 601. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Amapp-6689-A (अपीलाथ"/Appellant/Cross Objector) : (!"थ" / Respondent) अपीलाथ"कीओरसे/ Revenue By : Shri V. Nanda Kumar (Cit) - Ld. Dr !"थ"कीओरसे/Assessee By : Shri G. Baskar (Advocate)- Ld.Ar सुनवाईकीतारीख/Date Of Hearing : 18-01-2024 घोषणाकीतारीख /Date Of Pronouncement : 05-04-2024

292C of the Act in respect of the materials seized during the course of search, which was further strengthened by sworn statement recorded from Shri.Srinivasulu. 2.7 The Ld.CIT(A) erred in failing to appreciate that there is no such restrictive interpretation in the Section 132(4A) and Sec.292C that the presumption of correctness are applicable only in respect

DCIT CENTRAL CIRCLE2(4), CHENNAI vs. SHRI O. PANNEERSELVAM, CHENNAI

In the result, the cross-objections stands dismissed

Bench: Hon’Ble Shri V. Durga Rao, Jmand Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.581/Chny/2023 (िनधा"रण वष" / Assessment Year: 2016-17) & 2. आयकरअपील सं./ Ita No.582/Chny/2023 (िनधा"रण वष" / Assessment Year: 2017-18) Dcit Shri O. Panneerselvam बनाम Central Circle-2(4), No.70, South Agraharam, / Vs. Chennai. Tenkarai, Periakulam-625 601. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Amapp-6689-A (अपीलाथ"/Appellant) : (!"थ" / Respondent) & 3. Cross Objection No.5/Chny/2024 (In Ita No.581/Chny/2023) (िनधा"रण वष" / Assessment Year: 2016-17) & 4. Cross Objection No.6/Chny/2024 (In Ita No.582/Chny/2023) (िनधा"रण वष" / Assessment Year: 2017-18) Shri O. Panneerselvam Dcit बनाम No.70, South Agraharam, Central Circle-2(4), / Vs. Tenkarai, Periakulam-625 601. Chennai. "थायीलेखासं./जीआइआरसं./Pan/Gir No.Amapp-6689-A (अपीलाथ"/Appellant/Cross Objector) : (!"थ" / Respondent) अपीलाथ"कीओरसे/ Revenue By : Shri V. Nanda Kumar (Cit) - Ld. Dr !"थ"कीओरसे/Assessee By : Shri G. Baskar (Advocate)- Ld.Ar सुनवाईकीतारीख/Date Of Hearing : 18-01-2024 घोषणाकीतारीख /Date Of Pronouncement : 05-04-2024

292C of the Act in respect of the materials seized during the course of search, which was further strengthened by sworn statement recorded from Shri.Srinivasulu. 2.7 The Ld.CIT(A) erred in failing to appreciate that there is no such restrictive interpretation in the Section 132(4A) and Sec.292C that the presumption of correctness are applicable only in respect

DCIT CENTRAL CIRCLE 2(4), CHENNAI, CHENNAI vs. SHRI VAITHILINGAM, CHENNAI

In the result, the appeals of the revenue as well as the cross-objections of the assessee, for all the three years, stands dismissed

Bench: Hon’Ble Shri V. Durga Rao, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.604/Chny/2023 (िनधा"रण वष" / Assessment Year: 2015-16) & 2. आयकरअपील सं./ Ita No.605/Chny/2023 (िनधा"रण वष" / Assessment Year: 2016-17) & 3. आयकरअपील सं./ Ita No.606/Chny/2023 (िनधा"रण वष" / Assessment Year: 2017-18) Dcit Shri Vaithilingam बनाम Central Circle-2(4) No.3/335, South Street, Chennai. Telungankudikadu, Orathanad, / Vs. Thanjavur-614 625. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aeapv-5323-H (अपीलाथ"/Appellant) : (!"थ" / Respondent) & 4. Cross Objection No.51/Chny/2023 (In Ita No.604/Chny/2023) (िनधा"रण वष" / Assessment Year: 2015-16) & 5. Cross Objection No.52/Chny/2023 (In Ita No.605/Chny/2023) (िनधा"रण वष" / Assessment Year: 2016-17) & 6. Cross Objection No.53/Chny/2023 (In Ita No.606/Chny/2023) (िनधा"रण वष" / Assessment Year: 2017-18)

292C of the Act in respect of the materials seized during the course of search, which was further strengthened by sworn statement recorded from Shri. Srinivasulu. 2.7 The Ld.CIT(A) erred in failing to appreciate that there is no such restrictive interpretation in the Section 132(4A) and Sec.292C that the presumption of correctness are applicable only in respect

DCIT CENTRAL CIRCLE 2(4), CHENNAI, CHENNAI vs. SHRI VAITHILINGAM, CHENNAI

In the result, the appeals of the revenue as well as the cross-objections of the assessee, for all the three years, stands dismissed

Bench: Hon’Ble Shri V. Durga Rao, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.604/Chny/2023 (िनधा"रण वष" / Assessment Year: 2015-16) & 2. आयकरअपील सं./ Ita No.605/Chny/2023 (िनधा"रण वष" / Assessment Year: 2016-17) & 3. आयकरअपील सं./ Ita No.606/Chny/2023 (िनधा"रण वष" / Assessment Year: 2017-18) Dcit Shri Vaithilingam बनाम Central Circle-2(4) No.3/335, South Street, Chennai. Telungankudikadu, Orathanad, / Vs. Thanjavur-614 625. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aeapv-5323-H (अपीलाथ"/Appellant) : (!"थ" / Respondent) & 4. Cross Objection No.51/Chny/2023 (In Ita No.604/Chny/2023) (िनधा"रण वष" / Assessment Year: 2015-16) & 5. Cross Objection No.52/Chny/2023 (In Ita No.605/Chny/2023) (िनधा"रण वष" / Assessment Year: 2016-17) & 6. Cross Objection No.53/Chny/2023 (In Ita No.606/Chny/2023) (िनधा"रण वष" / Assessment Year: 2017-18)

292C of the Act in respect of the materials seized during the course of search, which was further strengthened by sworn statement recorded from Shri. Srinivasulu. 2.7 The Ld.CIT(A) erred in failing to appreciate that there is no such restrictive interpretation in the Section 132(4A) and Sec.292C that the presumption of correctness are applicable only in respect

DCIT CENTRAL CIRCLE 2(4), CHENNAI, CHENNAI vs. SHRI VAITHILINGAM, CHENNAI

In the result, the appeals of the revenue as well as the cross-objections of the assessee, for all the three years, stands dismissed

Bench: Hon’Ble Shri V. Durga Rao, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.604/Chny/2023 (िनधा"रण वष" / Assessment Year: 2015-16) & 2. आयकरअपील सं./ Ita No.605/Chny/2023 (िनधा"रण वष" / Assessment Year: 2016-17) & 3. आयकरअपील सं./ Ita No.606/Chny/2023 (िनधा"रण वष" / Assessment Year: 2017-18) Dcit Shri Vaithilingam बनाम Central Circle-2(4) No.3/335, South Street, Chennai. Telungankudikadu, Orathanad, / Vs. Thanjavur-614 625. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aeapv-5323-H (अपीलाथ"/Appellant) : (!"थ" / Respondent) & 4. Cross Objection No.51/Chny/2023 (In Ita No.604/Chny/2023) (िनधा"रण वष" / Assessment Year: 2015-16) & 5. Cross Objection No.52/Chny/2023 (In Ita No.605/Chny/2023) (िनधा"रण वष" / Assessment Year: 2016-17) & 6. Cross Objection No.53/Chny/2023 (In Ita No.606/Chny/2023) (िनधा"रण वष" / Assessment Year: 2017-18)

292C of the Act in respect of the materials seized during the course of search, which was further strengthened by sworn statement recorded from Shri. Srinivasulu. 2.7 The Ld.CIT(A) erred in failing to appreciate that there is no such restrictive interpretation in the Section 132(4A) and Sec.292C that the presumption of correctness are applicable only in respect

P. PALANISAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

penalty ought to be levied. From the language of the object "that instead of allowing people to find illegal ways of converting their black money into black again", it is evident that the government is intended to impose the same for future transactions. Especially the use of word "again" in the object would clearly indicate it is for future transactions

P. PALANISAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

penalty ought to be levied. From the language of the object "that instead of allowing people to find illegal ways of converting their black money into black again", it is evident that the government is intended to impose the same for future transactions. Especially the use of word "again" in the object would clearly indicate it is for future transactions

P KUPPUCHAMY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

penalty ought to be levied. From the language of the object \"that instead of allowing people to find illegal ways of converting their black money into black again\", it is evident that the government is intended to impose the same for future transactions. Especially the use of word \"again\" in the object would clearly indicate it is for future transactions

M/S. P.P. FINANCIERS,KARUR vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

penalty ought to be levied. From the language of the object "that instead of allowing people to find illegal ways of converting their black money into black again", it is evident that the government is intended to impose the same for future transactions. Especially the use of word "again" in the object would clearly indicate it is for future transactions

P.P. ENTERPRISES,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

penalty ought to be levied. From the language of the object "that instead of allowing people to find illegal ways of converting their black money into black again", it is evident that the government is intended to impose the same for future transactions. Especially the use of word "again" in the object would clearly indicate it is for future transactions

SELLAMUTHU KABILAN,BENGALURU vs. ACIT, CENTRAL CRICLE 3, COIMBATORE, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

penalty ought to be levied. From the language of the object "that instead of allowing people to find illegal ways of converting their black money into black again", it is evident that the government is intended to impose the same for future transactions. Especially the use of word "again" in the object would clearly indicate it is for future transactions

PALANISAMY RAGHUPATHY,BENGALURU vs. ACIT, CENTRAL CIRCLE-3,, COIMBATORE

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita Nos.1119, 1120 & 1121/Chny/2025 "नधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 & आयकर अपील सं./Ita Nos.209 To 213 & 214/Chny/2025 "नधा"रण वष"/Assessment Years: 2010-11 To 2014-15 & 2016-17

penalty ought to be levied. From the language of the object "that instead of allowing people to find illegal ways of converting their black money into black again", it is evident that the government is intended to impose the same for future transactions. Especially the use of word "again" in the object would clearly indicate it is for future transactions