ARTHI BALIGA,CHENNAI vs. ACIT, NFAC, , DELHI

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

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. No.1559/Chny/2024 िनधा"रण वष"/Assessment Year: 2017-18 Arthi Baliga, Vs. The Principal Commissioner Of No. 15, Flat No. 3-C, Coral Woods Income Tax, Chennai-4, Apartment, Sri Ram Nagar, South Chennai. Street, Alwarpet, Chennai 600 018. [Pan:Bkjpb5416P] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Ravi Kannan, Advocate & Shri Varun Ranganathan, Advocate ""थ" की ओर से/Respondent By : Shri Nilay Baran Som, Cit सुनवाई की तारीख/ Date Of Hearing : 05.12.2024 घोषणा की तारीख /Date Of Pronouncement : 28.02.2025 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 19.03.2024 Passed By The Ld. Principal Commissioner Of Income Tax, Chennai-4, Chennai For The Assessment Year 2017-18 Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

capital gains on account of sale of property at Bengaluru. Therefore, he held the reassessment dated 30.03.2022 in the case

SHRI VINOD BANSAL,CHENNAI vs. ACI-CENT. CIRCLE-3(2), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkery, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 445/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gains. 21. It was contended that the CIT cannot revise the reassessment for the mistakes in the reasons recorded

SMT. BIMALA DEVI AGARWAL,CHENNAI vs. ACIT,CENTRAL CIRCLE3(1), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 422/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gains. 21. It was contended that the CIT cannot revise the reassessment for the mistakes in the reasons recorded

SMT. SHOBA AGARWAL,CHENNAI vs. ACIT CENT CIRCLE 3(2), CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 421/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gains. 21. It was contended that the CIT cannot revise the reassessment for the mistakes in the reasons recorded

SMT.RITA AGARWAL ,CHENAI vs. PCIT , CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 433/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gains. 22. It was contended that the CIT cannot revise the reassessment for the mistakes in the reasons recorded

PANKAJ AGARWAL,CHENNAI vs. PCIT , CHENAI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 434/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13

capital gains. 21. It was contended that the CIT cannot revise the reassessment for the mistakes in the reasons recorded

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

Gains [As per Section 45(2) of the Act] Investment Investment directly inherited Particulars held by on merger Total assessee of ASL to assessee A) Long-term (LT) investment: % share in ownership interest(LT in nature) 1.59% 46.93% 48.52% Cost of acquisition 747.58 22.108.55 22,856.13 Indexed Cost of acquisition [upto

ACIT,, CHENNAI vs. SRI. K.SRIKANTH,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

capital gains on sale of shares instead of an amount of Rs. 15 crores which was total consideration as per agreements entered into with Pentamedia Group of concerns. The aforesaid assessment was framed by AO vide assessment order dated 31.12.2008 passed u/s 143(3) read with Section 147 of the 1961 Act. 5. Aggrieved by an assessment framed

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

capital gains on sale of shares instead of an amount of Rs. 15 crores which was total consideration as per agreements entered into with Pentamedia Group of concerns. The aforesaid assessment was framed by AO vide assessment order dated 31.12.2008 passed u/s 143(3) read with Section 147 of the 1961 Act. 5. Aggrieved by an assessment framed

SRI K.SRIKANTH,,CHENNAI vs. ACIT,, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

capital gains on sale of shares instead of an amount of Rs. 15 crores which was total consideration as per agreements entered into with Pentamedia Group of concerns. The aforesaid assessment was framed by AO vide assessment order dated 31.12.2008 passed u/s 143(3) read with Section 147 of the 1961 Act. 5. Aggrieved by an assessment framed

SHRI K.SRIKANTH,CHENNAI vs. ACIT, CHENNAI

In the result, all the four appeals adjudicated by us in this order are partly allowed

Bench: Shri George Mathan & Shri Ramit Kochar

capital gains on sale of shares instead of an amount of Rs. 15 crores which was total consideration as per agreements entered into with Pentamedia Group of concerns. The aforesaid assessment was framed by AO vide assessment order dated 31.12.2008 passed u/s 143(3) read with Section 147 of the 1961 Act. 5. Aggrieved by an assessment framed

RAMASAMI PALANISAMY,TIRUPUR vs. ITO, WARD-2(1), ERODE

In the result, appeal filed by the assessee is allowed

capital gains\narising from sale of impugned property in question in his hands, was\nabsent/no longer existing and therefore pleaded that the same addition of\nLTCG made in assessee's hands ought to be deleted.\n5. It was also brought to the notice of the Ld. CIT(A) that, pursuant to\nthe impugned assessment proceedings, the AO of the assessee

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

capital gains at Rs.35,72,678/-. In the reassessment the learned assessing officer had assessed the capital gains in respect

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

capital gains at Rs.35,72,678/-. In the reassessment the learned assessing officer had assessed the capital gains in respect

S.SATHYANARAYANAN,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal of the assessee in ITA

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao]

capital gains at Rs.35,72,678/-. In the reassessment the learned assessing officer had assessed the capital gains in respect

RAM KRISHAN KULWANT RAI,CHENNAI vs. ACIT CENTRAL CIRCLE 2(3), CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.1047/Chny/2018 "नधा"रण वष" / Assessment Year : 2009-10

gain tax even if it is construed as transfer of 11 I.T.A. No.1047/Chny/18 capital asset. Therefore, according to the Ld. counsel, the CIT(Appeals) is not justified in confirming the order of the Assessing Officer. 9. On the contrary, Shri S. Bharath, the Ld. Departmental Representative, submitted that admittedly there was a search operation in the case of SBQ Steels

K.R.JAYARAM,CHENNAI vs. ACIT, COIMBATORE

In the result, the appeal of the assessee is partly allowed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

reassessment on any fresh material information but only change of opinion. 3. The Commissioner of Income Tax Appeals erred treating the profit as short term capital gains

ACIT, CHENNAI vs. B.V.REDDY ENTERPRISES PVT. LTD., CHENNAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.3293/Chny/2016 िनधा"रण वष"/Assessment Year: 2008-09 The Assistant Commissioner Of Vs. M/S. B.V. Reddy Enterprises Pvt. Ltd., New No. 21/Old No. 10A, 1St Floor, Income Tax, Corporate Circle 1(2), Umayal Road, Kilpauk, Chennai 600 034. Chennai 600 010. [Pan:Aaccn2252L] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri D. Hema Bhupal, Jcit ""थ" की ओर से/Respondent By : Shri N. Arjunraj, Ca For Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 27.06.2022 घोषणा की तारीख /Date Of Pronouncement 29.07.2022 : आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 1, Chennai, Dated 28.09.2016 Relevant To The Assessment Year 2008-09. 2. Facts Are, In Brief, That The Assessee Filed Its Return Of Income For The Assessment Year 2008-09 On 13.09.2008 Disclosing Total Income Of ₹.1,83,53,540/- After Setting Off Of Carry Forward Loss Of ₹.9,67,40,138/-.

capital gain and it has to be taxed as business income. On the request of the assessee, reasons for reopening were furnished by the Assessing Officer. Further, notice under section 143(2) of the Act dated 24.08.2015 was also duly served on the assessee. In response to the same, the assessee filed its objection to the reopening of the assessment