ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadish

income-tax purposes wherein the expenses tax purposes wherein the expenses debited were higher than the expenses found debited in the books debited were higher than the expenses found debited in the books debited were higher than the expenses found debited in the books maintained in ‘ori’ and therefore made disallowance on account of inflated maintained in ‘ori’ and therefore

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadish

income-tax purposes wherein the expenses tax purposes wherein the expenses debited were higher than the expenses found debited in the books debited were higher than the expenses found debited in the books debited were higher than the expenses found debited in the books maintained in ‘ori’ and therefore made disallowance on account of inflated maintained in ‘ori’ and therefore

ASSISTANT COMMISSIONER OF INCOME TAX, MADURAI vs. BEACH MINERAALS COMPANY, TIRUNELVELI

Bench: Shri Aby T. Varkey & Shri Jagadish

business income ( Net Profit ) of the Appellant @ 2.21% income ( Net Profit ) of the Appellant @ 2.21% of the turnover of the turnover for each assessment year under consideration. for each assessment year under consideration. 7.5.23 Further the AO while determining the taxable income of the Further the AO while determining the taxable income of the Further the AO while determining

ASSISTANT COMMISSIONER OF INCOME TAX, MADURAI vs. BEACH MINERAALS COMPANY, TIRUNELVELI

Bench: Shri Aby T. Varkey & Shri Jagadish

business income ( Net Profit ) of the Appellant @ 2.21% income ( Net Profit ) of the Appellant @ 2.21% of the turnover of the turnover for each assessment year under consideration. for each assessment year under consideration. 7.5.23 Further the AO while determining the taxable income of the Further the AO while determining the taxable income of the Further the AO while determining

ASSISTANT COMMISSIONER OF INCOME TAX, MADURAI vs. BALA MURUGAN COMPANY, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadish

income-tax purposes wherein the expenses debited were higher than the expenses found wherein the expenses debited were higher than the expenses found wherein the expenses debited were higher than the expenses found debited in the books maintain debited in the books maintained in ‘ori’ and therefore made disallowance and therefore made disallowance ITA Nos.1471 & 1472/Chny/2023

ASSISTANT COMMISSIONER OF INCOME TAX, MADURAI vs. BALA MURUGAN COMPANY, CHENNAI

Bench: Shri Aby T. Varkey & Shri Jagadish

income-tax purposes wherein the expenses debited were higher than the expenses found wherein the expenses debited were higher than the expenses found wherein the expenses debited were higher than the expenses found debited in the books maintain debited in the books maintained in ‘ori’ and therefore made disallowance and therefore made disallowance ITA Nos.1471 & 1472/Chny/2023

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

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

reassessment proceedings was initiated with an objective to treat the capital receipts on sale of participating interests as business income

DEPUTY COMMISSIONER OF INCOME TAX, MADURAI vs. SITARAM JEWELLERS, MADURAI

In the result, both the appeals of the revenue are dismissed

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

business income of the appellant for the respective assessment years Considering the same transaction under the nomenclature as unexplained expenditure tantamount to taxing the same transaction(s) twice which is against the basic principles of taxation. Therefore, the undersigned is of the considered view the addition(s) contemplated as unexplained expenditure in respect of unaccounted cash transactions entered into with

DEPUTY COMMISSIONER OF INCOME TAX, MADURAI vs. SITARAM JEWELLERS, MADURAI

In the result, both the appeals of the revenue are dismissed

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

business income of the appellant for the respective assessment years Considering the same transaction under the nomenclature as unexplained expenditure tantamount to taxing the same transaction(s) twice which is against the basic principles of taxation. Therefore, the undersigned is of the considered view the addition(s) contemplated as unexplained expenditure in respect of unaccounted cash transactions entered into with

KAG INDIA PRIVATE LIMITED,CHENNAI vs. PCIT CENTRAL CIRCLE -2, CHENNAI

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.: 1366/Chny/2024 िनधा"रणवष" / Assessment Year: 2020-21 The Pcit (Central), M/S. Kag India Pvt Ltd., V. Chennai -2. No. 264/15-1, Sathiyanathan Complex, Velachery Road, East Tambaram, Chennai – 600 059. [Pan: Aadck-5381-Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. Y. Sridhar, Fca ""यथ"क"ओरसे/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई क" तार"ख/Date Of Hearing : 21.11.2024 घोषणा क" तार"ख/Date Of Pronouncement : 11.12.2024 आदेश /O R D E R

business of :-2-: ITA. No:1366/Chny/2024 manufacturing tiles, sanitary wares, taps and bath fittings. The assessee filed its original return of income (RoI) u/s.139 of the Income Tax Act, 1961 (hereinafter in short ‘the Act’) admitting an income of Rs.9,85,94,880/-. A search u/s.132 of the Act was conducted on 26.02.2021 in the assessee’s group and consequently

M/S. CASTLEWICK FZE,DUBAI vs. ACIT,INTERNATIONAL TAXATION, CIRCLE-1(1), CHENNAI

reassessment proceedings against the assessee has been reversed by the CIT(A). The DRP however, vide its order dated 29.11.2024 reiterated the same view of the AO in the draft assessment order. Pursuant to the DRP's directions dated 29.11.2024, the impugned final assessment order was passed on 06.12.2024. Aggrieved by the final assessment order, assessee filed the present appeal

S.A.BHIMARAJA,CHENNAI vs. ITO, CHENNAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.: 3414/Chny/2016 िनधा"रण वष" / Assessment Year: 2008-09

reassessment was bad in law. 4. For that the Commissioner of Income Tax (Appeals) failed to appreciate that the assessment was not completed as per the directions of the Hon'ble Income Tax Appellate Tribunal. 5. For that the Commissioner of Income Tax (Appeals) erred in upholding the addition of Rs.4,36,59,000/- as business

M.PALANISAMY,COIMBATORE vs. DCIT, COIMBATORE

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

reassessment of total income under the aforesaid provision. Similar position will obtain in a case where undisclosed income or undisclosed property has been found as a consequence of search. In other words, harmonious interpretation will produce the following results: 22 44 Appeals of S/Shri M.Palanisamy, A. Senthilkumar, T.M.Muthukumar, O. Arumugasamy & others a) In so far as pending assessments are concerned

ACIT, COIMBATORE vs. SHRI A.SENTHILKUMAR, COIMBATORE

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

reassessment of total income under the aforesaid provision. Similar position will obtain in a case where undisclosed income or undisclosed property has been found as a consequence of search. In other words, harmonious interpretation will produce the following results: 22 44 Appeals of S/Shri M.Palanisamy, A. Senthilkumar, T.M.Muthukumar, O. Arumugasamy & others a) In so far as pending assessments are concerned

DCIT, COIMBATORE vs. M/S. SENTHIL PAPAIN & FOOD PRODUCTS PVT. LTD., COIMBATORE

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

reassessment of total income under the aforesaid provision. Similar position will obtain in a case where undisclosed income or undisclosed property has been found as a consequence of search. In other words, harmonious interpretation will produce the following results: 22 44 Appeals of S/Shri M.Palanisamy, A. Senthilkumar, T.M.Muthukumar, O. Arumugasamy & others a) In so far as pending assessments are concerned

DCIT, COIMBATORE vs. M/S. SENTHIL PAPAIN & FOOD PRODUCTS PVT. LTD., COIMBATORE

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

reassessment of total income under the aforesaid provision. Similar position will obtain in a case where undisclosed income or undisclosed property has been found as a consequence of search. In other words, harmonious interpretation will produce the following results: 22 44 Appeals of S/Shri M.Palanisamy, A. Senthilkumar, T.M.Muthukumar, O. Arumugasamy & others a) In so far as pending assessments are concerned

DCIT, COIMBATORE vs. SRI M.PALANISAMY, COIMBATORE

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

reassessment of total income under the aforesaid provision. Similar position will obtain in a case where undisclosed income or undisclosed property has been found as a consequence of search. In other words, harmonious interpretation will produce the following results: 22 44 Appeals of S/Shri M.Palanisamy, A. Senthilkumar, T.M.Muthukumar, O. Arumugasamy & others a) In so far as pending assessments are concerned

DCIT, COIMBATORE vs. M/S. SENTHIL PAPAIN & FOOD PRODUCTS PVT. LTD., COIMBATORE

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

reassessment of total income under the aforesaid provision. Similar position will obtain in a case where undisclosed income or undisclosed property has been found as a consequence of search. In other words, harmonious interpretation will produce the following results: 22 44 Appeals of S/Shri M.Palanisamy, A. Senthilkumar, T.M.Muthukumar, O. Arumugasamy & others a) In so far as pending assessments are concerned