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

Bench: Shri Aby T. Varkey & Shri Jagadish

Section 145(3) of the Act. Accordingly, the undersigned in exercise of the powers conferred u/s ingly, the undersigned in exercise of the powers conferred u/s ingly, the undersigned in exercise of the powers conferred u/s 250 and 251 of the Act, is entitled to make such enquiry as he thinks fit 250 and 251 of the Act, is entitled

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

Bench: Shri Aby T. Varkey & Shri Jagadish

Section 145(3) of the Act. Accordingly, the undersigned in exercise of the powers conferred u/s ingly, the undersigned in exercise of the powers conferred u/s ingly, the undersigned in exercise of the powers conferred u/s 250 and 251 of the Act, is entitled to make such enquiry as he thinks fit 250 and 251 of the Act, is entitled

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act from its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act from its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance

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

Bench: Shri Aby T. Varkey & Shri Jagadish

145(3) of the Act. Accordingly, the books of accounts of the A of the Act. Accordingly, the books of accounts of the Appellant ppellant Company for the FY 2013- -14 are hereby rejected. Thus, having rejected the are hereby rejected. Thus, having rejected the books of accounts, the business income of the Appellant books of accounts, the business income

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

Bench: Shri Aby T. Varkey & Shri Jagadish

145(3) of the Act. Accordingly, the books of accounts of the A of the Act. Accordingly, the books of accounts of the Appellant ppellant Company for the FY 2013- -14 are hereby rejected. Thus, having rejected the are hereby rejected. Thus, having rejected the books of accounts, the business income of the Appellant books of accounts, the business income

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

Bench: Shri Aby T. Varkey & Shri Jagadish

145(3) of the Act. Accordingly, the books of accounts of the A of the Act. Accordingly, the books of accounts of the Appellant ppellant Company for the FY 2013- -14 are hereby rejected. Thus, having rejected the are hereby rejected. Thus, having rejected the books of accounts, the business income of the Appellant books of accounts, the business income

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

Bench: Shri Aby T. Varkey & Shri Jagadish

145(3) of the Act. Accordingly, the books of accounts of the A of the Act. Accordingly, the books of accounts of the Appellant ppellant Company for the FY 2013- -14 are hereby rejected. Thus, having rejected the are hereby rejected. Thus, having rejected the books of accounts, the business income of the Appellant books of accounts, the business income

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. BEACH MINERALS SANDS COMPANY, TIRUNELVELI

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

Section 145(3) of the Act. Accordingly, the books of accounts of the Appellant Firm for the FY(s) 2012-13 is hereby rejected. Thus, having rejected the books of accounts, the business income of the Appellant Firm is required to be estimated under the said provisions, consequent to rejection of the books of accounts.” ITA Nos.1473 to 1475/Chny/2023

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. BEACH MINERALS SANDS COMPANY, TIRUNELVELI

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

Section 145(3) of the Act. Accordingly, the books of accounts of the Appellant Firm for the FY(s) 2012-13 is hereby rejected. Thus, having rejected the books of accounts, the business income of the Appellant Firm is required to be estimated under the said provisions, consequent to rejection of the books of accounts.” ITA Nos.1473 to 1475/Chny/2023

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. BEACH MINERALS SANDS COMPANY, TIRUNELVELI

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

Section 145(3) of the Act. Accordingly, the books of accounts of the Appellant Firm for the FY(s) 2012-13 is hereby rejected. Thus, having rejected the books of accounts, the business income of the Appellant Firm is required to be estimated under the said provisions, consequent to rejection of the books of accounts.” ITA Nos.1473 to 1475/Chny/2023

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. BEACH MINERALS SANDS COMPANY, TIRUNELVELI

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

Section 145(3) of the Act. Accordingly, the books of accounts of the Appellant Firm for the FY(s) 2012-13 is hereby rejected. Thus, having rejected the books of accounts, the business income of the Appellant Firm is required to be estimated under the said provisions, consequent to rejection of the books of accounts.” ITA Nos.1473 to 1475/Chny/2023

MOHIT CHANDAK,CHENNAI vs. DCIT CENTRAL CIRCLE 3(3), CHENNAI

The appeals of the assessee are allowed

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon’Ble Amitabh Shuklaआयकर अपील सं./ Ita Nos.191 & 194/Chny/2025 िनधा=रण वष= /Assessment Years: 2017-18 & 2016-17

reassessment and those of the assessees on the other. Those directions, according to Mr. Vohra, were predicated on the Supreme Court seeking to obviate the specter of being deluged with more than 9000 appeals that would have come to be instituted before it assailing judgments and orders rendered by various High Courts. It was in order to avoid the aforesaid

MOHIT CHANDAK,CHENNAI vs. DCIT CENTRAL CIRCLE 3(3), CHENNAI

The appeals of the assessee are allowed

Bench: Hon’Ble Shri Manu Kumar Giri & Shri Hon’Ble Amitabh Shuklaआयकर अपील सं./ Ita Nos.191 & 194/Chny/2025 िनधा=रण वष= /Assessment Years: 2017-18 & 2016-17

reassessment and those of the assessees on the other. Those directions, according to Mr. Vohra, were predicated on the Supreme Court seeking to obviate the specter of being deluged with more than 9000 appeals that would have come to be instituted before it assailing judgments and orders rendered by various High Courts. It was in order to avoid the aforesaid

M/S. ARYAN SHARE AND STOCK BROCKERS LIMITED,CHENNAI vs. ITO, CORP WARD-1,, CHENNAI

In the result, Appeal filed by the assessee is allowed

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकर अपील सं./Ita No. 2115/Chny/2025 "नधा"रण वष"/Assessment Year: 2014-15 M/S Aryan Share & Stock Brokers V. Ito Corp Ward-1, Limited., Itd, M G Road, No. 07, 07Th Cross Street, Nungambakkam, 2Nd Floor, Shreeji Metropolis, Chennai-600034 Aminjikarai, Chennai-600030 Tamil Nadu Tamil Nadu [Pan:Aadca 1233 H] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Assessee By : Mr. Y Sridhar, Ca ""यथ" क" ओर से /Respondent By : Ms. Anitha, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 10.11.2025 घोषणा क" तार"ख /Date Of Pronouncement : 13.01.2026

reassessment deserves to be quashed. 13. Even otherwise, on merits, we find that the addition of Rs.40,48,000/- made under section 69A of the Act is wholly misconceived. Section 69A can be invoked only where the assessee is found to be the owner of money, bullion, jewellery or other valuable articles which are not recorded in the books

M/S BEACH MINERAALS COMPANY,TIRUNELVELI KUTTAM KUTTAM B.O. vs. ACIT CENTRAL CIRCLE-1, , MADURAI

In the result appeal of the assessee is partly allowed

Bench: Shri V. Durga Rao & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 366/Chny/2023 निर्धारण वर्ष / Assessment Year : 2013-14 M/S. Beach Minerals Company 125, Triuchendur Road, Tirunelveli Kuttam, Kuttam B.O. 627 651 Tamil Nadu. Pan : Aajfb3329C .......अपीलार्थी / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central Circle-1, Madurai. ……प्रत्यर्थी / Respondent आयकर अपील सं. / Ita No. 532/Chny/2023 निर्धारण वर्ष / Assessment Year : 2013-14 The Deputy Commissioner Of Income Tax, Central Circle-1, Madurai. .......अपीलार्थी / Appellant बनाम / V/S. M/S. Beach Minerals Company 125, Triuchendur Road

145(3) of the Act had no application to the appellate powers and ought to have appreciated that in the absence of in the satisfaction on the part of the Assessing Officer on the correctness of the books maintained including the absence of any pleading/prayer/suggestion from the office of the JAO, the rejection of the books of accounts for estimating

DCIT, MADURAI vs. M/S BEACH MINERAALS COMPANY, TIRUNELVELI CHENNAI

In the result appeal of the assessee is partly allowed

Bench: Shri V. Durga Rao & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 366/Chny/2023 निर्धारण वर्ष / Assessment Year : 2013-14 M/S. Beach Minerals Company 125, Triuchendur Road, Tirunelveli Kuttam, Kuttam B.O. 627 651 Tamil Nadu. Pan : Aajfb3329C .......अपीलार्थी / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central Circle-1, Madurai. ……प्रत्यर्थी / Respondent आयकर अपील सं. / Ita No. 532/Chny/2023 निर्धारण वर्ष / Assessment Year : 2013-14 The Deputy Commissioner Of Income Tax, Central Circle-1, Madurai. .......अपीलार्थी / Appellant बनाम / V/S. M/S. Beach Minerals Company 125, Triuchendur Road

145(3) of the Act had no application to the appellate powers and ought to have appreciated that in the absence of in the satisfaction on the part of the Assessing Officer on the correctness of the books maintained including the absence of any pleading/prayer/suggestion from the office of the JAO, the rejection of the books of accounts for estimating

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

145(3)\nof the Act. Accordingly, the books of accounts of the Appellant Company\nfor the FY 2013-14 are hereby rejected. Thus, having rejected the\nbooks of accounts, the business income of the Appellant Company is\nrequired to be estimated under the said provisions, consequent to\nrejection of the books of accounts.\"\n8. After holding