ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

section 80HHC, was held to be wrongly allowed in the original assessment. Identically, in the case of Happy Forging Ltd. v. CIT, (2002) 253 ITR 413,416-17 (P & H), where excise duty paid in advance was shown as an asset in the balance sheet and was allowed as a deduction, reassessment notice on the ground that excise duty

N.BALADANDAYUDAM, REP BY POWER HOLDER R.RAVICHANDRAN ,ERODE vs. ITO NON CORPORATE WARD 5(2) , COIMBATORE

In the result, appeals of the assessee for the assessment year 2010-2011 is allowed whereas as those for assessment years

Bench: Shri Abraham P. George]

reassess any other income, which may have escaped assessment but which did not form the subject matter of the notice under section 148. This view was adopted in the judgment of the Punjab and Haryana High Court in Vipan Khanna [2002] 255

N.BALADANDAYUDAM, REP BY POWER HOLDER R.RAVICHANDRAN ,ERODE vs. ITO NON CORPORATE WARD 5(2) , COIMBATORE

In the result, appeals of the assessee for the assessment year 2010-2011 is allowed whereas as those for assessment years

Bench: Shri Abraham P. George]

reassess any other income, which may have escaped assessment but which did not form the subject matter of the notice under section 148. This view was adopted in the judgment of the Punjab and Haryana High Court in Vipan Khanna [2002] 255

DCIT, CHENNAI vs. THE OFFICIAL LIQUIDATOR M/S. MASCON GLOBAL LTD. (IN LIQUIDATION), CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

255 ITR 220, found that Explanation 3 to Section 147 of the Act lifts the embargo, which was inserted by judicial interpretation, on the making of assessment or reassessment

DCIT, CHENNAI vs. THE OFFICIAL LIQUIDATOR M/S. MASCON GLOBAL LTD. (IN LIQUIDATION), CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

255 ITR 220, found that Explanation 3 to Section 147 of the Act lifts the embargo, which was inserted by judicial interpretation, on the making of assessment or reassessment

ACIT, CHENNAI vs. M/S. MASCON GLOBAL LTD., CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

255 ITR 220, found that Explanation 3 to Section 147 of the Act lifts the embargo, which was inserted by judicial interpretation, on the making of assessment or reassessment

DCIT, CHENNAI vs. THE OFFICIAL LIQUIDATOR M/S. MASCON GLOBAL LTD. (IN LIQUIDATION), CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

255 ITR 220, found that Explanation 3 to Section 147 of the Act lifts the embargo, which was inserted by judicial interpretation, on the making of assessment or reassessment

ACIT CENTRAL CIRCLE, SALEM vs. THRIVENI EARTHMOVERS PVT. LTD., SALEM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

reassess any other income, which may have escaped assessment but which did not form the subject matter of the notice under section 148. This view was adopted in the judgment of ITA Nos.2280-83 /2018 :- 19 -: the Punjab and Haryana High Court in Vipan Khanna v. CIT [2002] 255

ACIT CENTRAL CIRCLE, SALEM vs. THRIVENI EARTHMOVERS PVT. LTD., SALEM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

reassess any other income, which may have escaped assessment but which did not form the subject matter of the notice under section 148. This view was adopted in the judgment of ITA Nos.2280-83 /2018 :- 19 -: the Punjab and Haryana High Court in Vipan Khanna v. CIT [2002] 255

ACIT CENTRAL CIRCLE, SALEM vs. THRIVENI EARTHMOVERS PVT. LTD., SALEM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

reassess any other income, which may have escaped assessment but which did not form the subject matter of the notice under section 148. This view was adopted in the judgment of ITA Nos.2280-83 /2018 :- 19 -: the Punjab and Haryana High Court in Vipan Khanna v. CIT [2002] 255

ACIT CENTRAL CIRCLE, SALEM vs. THRIVENI EARTHMOVERS PVT. LTD., SALEM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

reassess any other income, which may have escaped assessment but which did not form the subject matter of the notice under section 148. This view was adopted in the judgment of ITA Nos.2280-83 /2018 :- 19 -: the Punjab and Haryana High Court in Vipan Khanna v. CIT [2002] 255

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

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

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

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

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

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

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

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

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

THANUSHKODI NARAYANAN,CHENNAI vs. DCIT, CENTRAL CIRCLE-3(2), CHENNAI

In the result, the appeals filed by the assessees in ITA Nos

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

reassessment, the assessment order is not sustainable and relied upon the judgment cited as CIT vs. Kabul Chawla - 380 ITR 173 (Del.). 10. Assessee brought on record copy of computation of income along with acknowledgement of return for income, copy of special audit report furnished u/s.142(2A) and reply filed by the assessee to the special audit report, available

M/S RATNA CAFE,CHENNAI vs. ACIT NON CORPORATE CIRCLE 9, CHENNAI

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

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

255, Triplicane High Road, v. Non-Corporate Circle-9, Chennai – 600 005. Chennai. PAN: AAAFR 0842B (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent by : Shri AR.V. Sreenivasan, Addl.CIT सुनवाई क" तार"ख/Date of Hearing : 12.01.2022 घोषणा क" तार"ख/Date of Pronouncement : 21.01.2022 आदेश

INDIAN CO-OP NETWORK FOR WOMEN LTD,CHENNAI vs. PCIT , CHENNAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

255/-. According to PCIT, the AO has not made any verification or these interests on fixed deposit and savings bank account interest is not eligible for claim of deduction u/s.80P(2)(d) of the Act and hence, the reassessment order framed u/s.143(3) r.w.s.147 of the Act dated 31.10.2018 is erroneous and prejudicial to the interest of Revenue. The PCIT